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.. . bankruptcy laws or any other applicable law of the United States of America, or if a court of competent jurisdiction shall approve a petition, filed with or without the consent of the Agency, seeking reorganization under the federal bankruptcy laws or any other applicable law of the United States of America, or if, under the provisions of any other law for the relief or aid of debtors, any court of competent jurisdiction shall assume custody or control of the Agency or of the whole or any substantial part of its property; In each event of default described in (1) or (2) above the Fiscal Agent shall, and in each case of default described in (3) or (4) above, the Fiscal Agent shall if requested by the holders of not less than a majority of the aggregate principal amount of the Bonds at the time outstanding (such request to be in writing to the Fiscal Agent and to the Agency), declare the principal of all of the Bonds then outstanding and the interest accrued thereon, to be due and payable immediately. Upon any such declaration the Bonds shall become and shall be immediately due and payable, anything in this Resolution or in the Bonds to the contrary notwithstanding. . The declaration may be rescinded by the owners of not less than a majority of the Bonds then outstanding provided the Agency cures the default or defaults and deposits with the Fiscal Agent of a sum sufficient to pay all principal on the Bonds matured prior to the declaration and all matured installments of interest (if any) upon all the Bonds, with interest at the rate of twelve percent (12%) per annum on the overdue installments of principal and, to the extent the payment of interest on interest is lawful at that time, on such overdue installments of interest, so that the Agency is currently in compliance with all payment, deposit and transfer provisions of this Resolution, and any expenses incurred by the Fiscal Agent in connection with the default. B. Certain Remedies of Bondholders. Any Bondholder shall have the right, for the equal benefit and protection of all Bondholders similarly situated-- . (1) by mandamus, suit, action or proceeding, to compel the Agency and its members, officers, agents or employees to perform each and every term, provision and convenant contained in this Resolution and in the Bonds, and to require the carrying out of any or all covenants and agreements of the Agency and the fulfillment of all duties imposed upon it by the Law; (2) by suit, action or proceeding in equity, to enjoin any acts or things which are unlawful, or the. violation of any of the Bondholders' rights; or 03-30-83 4439P/2306/00 -29- 3A