Browse
Search
Agenda - 03-02-2006-8bTA
OrangeCountyNC
>
Board of County Commissioners
>
BOCC Agendas
>
2000's
>
2006
>
Agenda - 03-02-2006
>
Agenda - 03-02-2006-8bTA
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
9/2/2008 1:38:17 AM
Creation date
8/29/2008 9:13:06 AM
Metadata
Fields
Template:
BOCC
Date
3/2/2006
Document Type
Agenda
Agenda Item
8bTA
Document Relationships
Minutes - 20060302
(Linked To)
Path:
\Board of County Commissioners\Minutes - Approved\2000's\2006
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
52
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
the payment thereof ratably, according to the amounts of principal due on such <br />date to the persons entitled thereto, lvithout any discrimination or preference. <br />(b) If the principal with respect to all Certificates has become or been <br />declared due and payable, all such money will be applied (i} first to pay the <br />Trustee's fees and expenses, and then (ii) to the payment of principal and interest <br />then due with respect to the Certificates, without preference or priority of principal <br />or interest, or of any installment of interest over any other installment of interest, <br />or of any Certificate o~Ter any other Certificate, ratably according to the amounts <br />due respectively for principal and interest, to the persons entitled thereto without <br />any discrimination ar privilege. <br />(c) If the principal with respect to all Certificates has been declared due and <br />payable and if such declaration thereafter has been rescinded and aruzulled under <br />the provisions of Section 8.02, then, subject to the provisions of subsection (b} <br />above, if the principal with respect to all Certificates later becomes due and <br />payable or is declared due and payable, the money then remaining in and thereafter <br />accruing to the Payment Fund will be applied in accordance with the provisions of <br />subsection (a) above. <br />The Trustee may fix a payment date for any payment to the Owners under <br />this Section. <br />Section 8.12. Undertaking for Costs. In anSj suit for the enforcement of any <br />right or remedy under this Trust Agreement or in any suit against the Trustee for <br />anyT action taken or omitted by it as Trustee, a court in its discretion may require <br />the filing by any party litigant in the suit of an undertaking to pay the costs of the <br />suit, and the court in its discretion may assess reasonable costs, including <br />reasonable attorneys' fees, against any party litigant in the suit, having due regard <br />to the merits and good faith of the claims or defenses made by the party litigant. <br />Tlus Section does not apply to a suit by the Trustee or any authorized suit byj any <br />Owner or O~~jners. <br />ARTICLE IX <br />THE TRUSTEE <br />Section 9.01. Rights and Duties. <br />(a) If an Event of Default has occurred and is continuing, the Trustee <br />must exercise its rights and powers and use the same degree of care and skill in <br />their exercise as a prudent person would exercise or use under the circumstances in <br />the conduct of such person's o~vn affairs. <br />J3862v2 ~~ <br />
The URL can be used to link to this page
Your browser does not support the video tag.