HomeMy WebLinkAbout01776holders of thirty per cent (30%) of the principal amount of the
Bonds then outstanding the Trustee shall proceed, to protect and
enforce the rights of the Trustee and/or the Bondholders by a
suit, action or special proceeding in equity or at law either
for the specific performance of any covenant or agreement or
for the execution of any power or for the enforcement of any
proper legal or equitable remedy as shall be deemed most ef-
fectual to protect and enforce the rights aforesaid.
Section 17-a. The Trustee may give its consent to
any modification of the Lease or to any new lease or any modi-
fication thereof as long as such modification of the Lease or
the new lease or modification thereof does not in any way reduce
the rentals to be paid by the lessee to the city to amounts less
than the amounts necessary to pay the principal of and interest
on the Bonds outstanding upon receiving the consent to and approval
of such new lease or modifications from the holders of at least
two-thirds in principal amount of the Bonds then outstanding.
The Trustee shall not give its consent to any modification of
the Lease or to any new lease or modification thereof which would
in any way reduce the amount of rentals to be paid to an amount
less than that necessary to pay the principal of and interest
on the Bonds then outstanding unless consent to and approval of
such new lease or modification is given by one hundred per cent
of the holders of the Bonds then outstanding,
24-a.