Resolution No. 4624 - Laserfiche WebLink

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9.4 Remedies. If an Event of Default occurs, any Owner may exercise any remedy available at law or in equity. However, the Bonds shall not be subject to acceleration or mandatory redemption on the occurrence of an Event of Default. 9.5 Books of City Open to Inspection. (A) The City covenants that if an Event of Default has occurred and has not been remedied, the books of record and account of the City and all other records relating to the Airport (except any documents protected by attorney-client privilege) shall at all reasonable times be subject to the inspection and use of any persons holding at least ten percent (10%) of the principal amount of Outstanding Bonds and their respective agents and attorneys. (B) The City covenants that if the Event of Default has occurred and has not been remedied, the City will continue to account, as a trustee of an express trust, for all Net Revenues and other moneys, securities and funds pledged under the Master Resolution. 9.6 Waivers of Event of Default. (A) No delay or omission of any Owner to exercise any right or power arising upon the happening of an Event of Default shall impair any right or power or shall be construed to be a waiver of any such Event of Default or to be an acquiescence therein; and every power and remedy given by this Section 9 to the Owners may be exercised from time to time and as often as may be deemed expedient by the Owners. (B) The Owners of not less than fifty percent (50%) in principal amount of the affected Bonds and are at the time Outstanding, or their attorneys-in-fact duly authorized, may, on behalf of the Owners of all of affected Bonds, waive any past default under this Master Resolution with respect to such Bonds and its consequences, except a default in the payment of the principal of, premium, if any, or interest on any of the Bonds. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon. 9.7 Remedies Granted in Master Resolution Not Exclusive. No remedy by the terms of the Master Resolution conferred upon or reserved to the Owners is intended to be exclusive of any other remedy, but each and every such remedy shall be cumulative and shall be in addition to every other remedy given under the Master Resolution or existing at law or in equity or by statute on or after the date of adoption of the Master Resolution. Section 10. Amendment of Master Resolution 10.1 Amendment without Owner Consent. This Master Resolution may be amended by Supplemental Resolution without the consent of any Owners for anyone or more of the following purposes: (A) To cure any ambiguity or formal defect or omission in this Master Resolution; Page 17 - Resolution March 23, 2000