Laserfiche WebLink
(c) The Trustee shall not be liable with respect to any action taken or omitted <br />to be taken by it in good faith in accordance with the direction of the Owners of not less than <br />25% in aggregate principal amount of the Bonds at the time Outstanding relating to the time, <br />method and place of conducting any proceeding for any remedy available to the Trustee, or <br />exercising any trust or power conferred upon the Trustee under this Indenture. <br />(d) The Trustee shall not be liable for any action taken by it in good faith and <br />believed by it to be authorized or within the discretion or rights or powers conferred upon it by <br />this Indenture, except for actions arising from the negligence or intentional misconduct of the <br />Trustee. The permissive right of the Trustee to do things enumerated hereunder shall not be <br />construed as a mandatory duty. <br />(e) The Trustee shall not be deemed to have knowledge of any Event of <br />Default hereunder unless and until it shall have actual knowledge thereof, or shall have received <br />written notice thereof at the Corporate Trust Office of the Trustee. Except as otherwise expressly <br />provided herein, and subject to Section 8.02, the Trustee shall not be bound to ascertain or <br />inquire as to the performance or observance of any of the terms, conditions, covenants or <br />agreements herein or of any of the documents executed in connection with the Bonds, or as to the <br />existence of an Event of Default hereunder or thereunder. The Trustee shall not be responsible <br />for the validity or effectiveness of any collateral given to or held by it. Without limiting the <br />generality of the foregoing, the Trustee shall not be responsible for reviewing the contents of any <br />financial statements furnished to the Trustee pursuant to Section 7.04 and may rely conclusively <br />on the certificates provided hereunder to establish compliance with its duties. <br />(f) The Trustee shall not be considered in breach or in default of its <br />obligations hereunder or progress in respect thereto in the event of enforced delay ( "unavoidable <br />delay ") in the performance of such obligations due to unforeseeable causes beyond its control <br />and without its fault or negligence, including, but not limited to, Acts of God or of the public <br />enemy or terrorists, acts of a government, acts of the other party, fires, floods, epidemics, <br />quarantine restrictions, strikes, freight embargoes, earthquakes, explosion, mob violence, riot, <br />inability to procure or general sabotage or rationing of labor, equipment, facilities, sources of <br />energy, material or supplies in the open market, litigation or arbitration involving a party or <br />others relating to zoning or other governmental action or inaction pertaining to the project, <br />malicious mischief, condemnation and unusually severe weather or delays of suppliers or <br />subcontractors due to such causes or any similar event and or occurrence beyond the control of <br />the Trustee; provided, however, that the Trustee shall provide notice of any such unavoidable <br />delay to the Authority. <br />SECTION 8.06. Right to Rely on Documents. The Trustee shall be protected in <br />acting upon any notice, resolution, request, requisition, consent, order, certificate, report, <br />opinion, bond, facsimile transmission, electronic mail or other paper or document believed by it <br />to be genuine and to have been signed or presented by the proper party or parties. The Trustee <br />may consult with counsel, who may be counsel but need not be counsel of or to the Authority, <br />with regard to legal questions, and the opinion of such counsel shall be full and complete <br />authorization and protection in respect of any action taken or suffered by it hereunder in good <br />faith and in accordance therewith. <br />80A34103 <br />55394.00011 \8754149.4 <br />