Ordinance No. 19551 - Laserfiche WebLink

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~d~ may file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of such Trustee and of the Owners of the Bonds allowed in any judicial proceedings relative to the City or~the Bonds; and ~e7 may, and upon the written request of the Owners of twenty-five percent ~25a} in aggregate principal amount of the Sonds then Outstanding shall, proceed to protect and enforce all rights of the Bondowners and the Trustee under this Ordinance, by such means or appropriate judicial proceedings as shall be suitable or deemed by it mast effective in the premises, including any action at law or in equity or in bankruptcy or otherwise, whether for the specific enforcement of any covenant or agreement contained in this Ordinance ar in aid of the exercise of any power granted in this Ordinance or to enforce any other legal or equitable right vested in the Owners of the Bands or the Trustee by this Ordinance. All rights of action including the right to file proof of claims under this Ordinance or under any of the Bands may be enforced by the Trustee without the possession of any of the Bonds or the production thereof in any trial or other proceedings relating thereto and any such suit or proceeding instituted by the Trustee shall be brought in its name and as trustee of any express trust without the necessity of joining as plaintiffs ar defendants any Owners of the Bonds, and any recovery of judgment shall be for the equal benefit of the Owners of the Outstanding Bonds. 9.3.2. Rights of majority of Owners. The Owners of nat less than a majority in principal amount of the Bonds at the time Outstanding shall be authorized and empowered: ~a~ to direct the time, method, and place of conducting any proceeding for any remedy available to the Trustee or to the Owners of the Bonds, or exercising any trust or power conferred upon the Trustee hereunder; or ~b~ on behalf of the Owners of the Bonds then Outstanding, to consent to the waiver of any Event of Default or its consequences, and the Trustee shall waive any Event of Default and its consequences upon the written request of the Owners of such majority. No waiver shall extend to any subsequent Event of Default, or impair any right consequent thereon. 9.3.3. Proceedings by owners. Notwithstanding any other provision of the Ordinance the right of any owner of any Bond to receive payment of the principal of and interest on such Bond, on or after the respective due dates expressed in such Page 57 ~- Ordinance