Repository: UIHistories Project: Board of Trustees Minutes - 1936 [PAGE 845]

EXTRACTED TEXT FROM PAGE:

842

BOARD OF TRUSTEES

[June 29

as provided in this Indenture or otherwise, the Foundation shall well and truly pay or cause to be paid the whole amount of the principal and the interest and the premium, if any, so due and payable upon all of the Bonds and coupons then outstanding or shall provide for the payment thereof by depositing in trust with the Trustee the entire amount so due and payable thereon for principal and interest and premium, if any, and shall also pay or cause to be paid all other sums payable hereunder by the Foundation; then and in that case the Trustee, on demand of the Foundation, shall release this Indenture and shall execute such documents to evidence such release as may be reasonably required by the Foundation; otherwise this Indenture shall be, continue and remain in full force and effect.

ARTICLE X I I I

GENERAL PROVISIONS

Section 13.01. Unless an event of default as defined in Section 9.01 hereof shall have occurred and be continuing, the Foundation shall be suffered and permitted to retain actual possession and control of the T r u s t Property and the Pledged Estate (except that an original counterpart of the attached lease and of any other leases or contracts entered into by the Foundation demising or otherwise relating to the T r u s t Property, the operation thereof or the revenues therefrom, shall be and remain on file with the Trustee) and, subject to the provisions of this Indenture, to manage, operate, control and use the same and every part thereof, with the rights and privileges thereunto appertaining. Section 13.02. Any notice, request, direction or other instrument provided in this Indenture to be signed or executed by bondholders may be in any number of concurrent writings of similar tenor and may be signed or executed by such bondholders in person or by agent appointed in writing. As a condition to acting thereupon the Trustee may, but shall not be required to, demand proof of the execution of any such instrument and of the fact that any person claiming to be the holder of any Bond is such holder and may further require the actual deposit of such Bond with the Trustee. Proof of the execution of any such notice, direction or other instrument, or of the writing appointing such agent, or of the holding or ownership of any such Bond, if made in any manner hereinafter set forth, shall be sufficient for any of the purposes of this Indenture and shall be conclusive in favor of the Trustee and the Foundation with regard to any action taken by it upon such request or other instrument, namely: ( a ) The fact and date of the execution by any person of any such writing may be proved by the certificate of any officer of any jurisdiction who by law has power to take acknowledgments of deeds (within the jurisdiction in which such acknowledgment is taken) that the person signing such writing acknowledged before him the execution thereof, or by an affidavit of a witness of such execution. ( b ) T h e fact of the holding of any Bond or coupon transferable by delivery and the number thereof and the date of holding the same may be proved either by producing and exhibiting said Bond or coupon to the Trustee or by a statement executed by any trust company, bank, banker, or other depository wherever situated, if such statement shall be deemed by the Trustee to be satisfactory, showing that at the date therein mentioned such person had on deposit with or exhibited to such trust company, bank, banker or other depository the Bond or coupon described in such statement; provided, however, that the Government may make such proof by means of a written statement signed in its name by any official or agent of the Government. ( c ) The ownership of registered Bonds shall be proved by the Bond Register herein provided for. Any action taken or permitted by the Trustee at the request or with the consent or acquiescence of any person who is at the time the holder of any Bond or coupon shall be conclusive and binding upon all future holders thereof or of any Bond or coupon which may be issued in exchange therefor.