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payable pursuant to scheduled payment dates or upon call for <br /> prepayment; or <br /> (b) if payment of any installment of interest on any <br /> Certificate is not made when it becomes due and payable; or <br /> (c) if an "Event of Default" as defined in the Lease <br /> occurs, each of which Events of Default are incorporated herein by <br /> this reference. <br /> Section 5. 02 . Remedies. If any Event of Default occurs and <br /> is continuing, the Trustee, before, after or without declaring the <br /> principal of the Certificates immediately due and payable, may <br /> enforce each and every right granted to the Lessor under the Lease <br /> or any supplements or amendments thereto. In exercising such <br /> rights and the rights given the Trustee under this Article V, the <br /> Trustee shall take such action, as in the judgment of the Trustee, <br /> applying the standard described in Section 6. 05 hereof, would best <br /> serve the interests of the Owners. <br /> Section 5. 03 . Legal Proceedings by Trustee. If any Event <br /> of Default has occurred and is continuing, the Trustee in its <br /> discretion may, and upon the written request of the Owners of <br /> Outstanding Certificates then representing at least a majority in <br /> principal amount of the Lease Payments and receipt of indemnity to <br /> its satisfaction, shall, in its own name: <br /> (a) by mandamus, or other suit, action or proceeding at <br /> law or in equity, enforce all rights of the Owners, including the <br /> right as lessor under the Lease to collect the amounts payable <br /> under the Lease or to enforce any and all provisions of said <br /> agreements for the benefit of the Owners; <br /> (b) bring suit upon the Certificates; <br /> (c) take such actions as are allowed by law or in equity <br /> to realize upon the Trust Estate; <br /> (d) by action or suit in equity enjoin any acts or <br /> things which may be unlawful or in violation of the rights of the <br /> Owners. <br /> Section 5. 04. Discontinuance of Proceedings by Trustee. If <br /> any proceeding taken by the Trustee on account of any Event of <br /> Default is discontinued or is determined adversely to the Trustee, <br /> the City, the Trustee and the Owners shall be restored to their <br /> former positions and rights hereunder as though no such proceeding <br /> had been taken, but subject to the limitations of any such adverse <br /> determination. <br /> C-16 KR173 92/01/27 <br />