Agmt15 Raymond James and Assoc. Port of RWC sale of refunding bonds

Browse Search

A waiver of any default or breach of duty or contract by any Owner shall not affcct any subsequent defauit or brcach of duty or contract, or impair any rishts or remedies on any such subsequent default or breach,and no delay or omission by any Owner to exercise any right or power accruing upon any default shal) impair any such right or power or shal) be construed t� be a waiver of any such default or an acquiescence therein� and every power and remedy conferred upon the Owners by this Article Vl( may be enforced and exercised from time to time and as often as shall be deemed expedient by the Owners. Ifany suit,aclion or proceedin�to enforce any right or exercise any remedy is abandoned or determined adversely to the Owners,the Trustee, the Port and the Owners shall be restored to their former positions, rights and remedies as if such suit, action or proceeding had not been brought or taken. 5ection 7.4. �ctions bv 1�rustee as Attornev-in-Fact. Any suit,action or proceeding which any Owner sha11 have the right to bring to enforce any right or remedy hereunder may be brought by the Trustee far the equal benefit and protection of all Owners,and the Trustee is hereby appointed(and the successive respective Owners of the Bonds issued Rereunder,by taking and holdins the same,shall be conclusively deemed so to have appointed it)the true and lawful attorney-in-factof the Owners fbr the purpose of brinsing any such suit,action or proceeding and to do and perform any and all acts and things for and on behalf of the Owners as a class or classes,as may be necessary or advisable in the opinion of the Trustee as such attorney-in-fact;pruvided, that the Trustee shall have no duty or obligaiion to enforce any right or remedy unless it has been indemnified by the Owners from any liability or expense including without limitation fees and expenses of its attorneys(both in-house and outside); and prnvide�l jurther, that notwithstanding any other provision contained hertin, in determining whether the�ights ofthe Owners wilt be adversely affected by any action taken pursuant hereto, the Trustee shatl consider the affect on the Owners as if there were no Municipal Bond Insurance Policies on any of the Bonds. , Section 7.5. ,(temedies Not Exclusive. No rernedy herein conferred upon or reseived to the Owners is intended to be exclusive of any other remedy,and every such remedy shall be cumulative and shall be in addition to every other remedy given hereunder or now or hereafter existing,at Iaw or in equity or by statute or otherwise,and may be exercised without exhausting and without regard to any other remedy conferred by law. ARTICLE VIII DEFEASANCE Section 8.1. Discharge of Bonds. lf the Port shell pay or cause to be paid, or there shall otherwise be paid,to the Owners of all or a portion of the Outstanding Bonds the interest thereon and principal thereof and redemption premiums, if any, thereon at the times and in the manner stipulated ' therein and herein, then the Owners of such Bonds shali cease to be entitled to the pledge of Net Revenues as provided herein,and all agreements,covenants and other obligations of the Port to the Owners of such Bonds hereunder shall thereupon cease,terminate and become void and be discharged �nd satisfied;provi�fed,that notwithstandinganything contained herein to the contrary,in the event that the interest on or principal of any Bonds shall be paid by a Bond lnsurer pursuant to a Municipal$ond �zo9a.m�zv3 i.000s 43