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. . . , I - 1206. Limitations on Rights of Bondholders. (A) . No Holder of any Bond shall have any right to institute any suit, action or other proceeding hereunder, or for the protection or enforcement of any right herein granted or any right granted under law unless such Holder shall have given to the Trustee written notice of the Event of Default or breach of duty on account of which such suit, action or proceeding is to be taken, and unless the Holders of not less than twenty-five percent (25%) in principal amount of the Bonds then Outstanding shall have made written request to the Trustee after the right to exercise such powers or right of action, as the case may be, shall have accrued, and shall have afforded the Trustee a reasonable opportunity either to proceed to exercise the powers herein granted or granted under law or to institute such action, suit or proceeding in its name and unless, also, there shall have been offered to the Trustee reasonable security and indemnity against the costs, expenses and liabilities to be incurred therein or thereby, and the Trustee shall have refused or neglected to comply with such request within a reasonable time; and such notification, request and offer of indemnity are hereby declared in every such case, at the option of the Trustee, to be conditions precedent to the execution of the powers under this Resolution or for any other remedy hereunder or under law. It is understood and intended that no one or more Holders of the Bonds hereby secured shall have any right in any manner whatever by his or their action to affect, disturb or prejudice the security of this Resolution, or to enforce any right hereunder or under law with respect to the Bonds or this Resolution, except in the manner herein provided, and that all proceedings shall be instituted" had and maintained in the manner herein provided and for the benefit of all Holders of Outstanding Bonds and coupons. (B) Anything to the contrary notwithstanding contained in this Section 1206, or any other provision of this Resolution, each Holder of any Bond by h is acceptance thereof shall be deemed to have agreed that any court in its discretion may require, in any suit for the enforcement of any right or remedy under this Resolution or any Supplemental Resolution, or in any suit against the Trustee for any action taken or omitted by it as Trustee, the filing by any party litigant in such suit of an undertaking to pay the reasonable costs of such suit, and that such court may in its discretion assess reasonable costs, including reasonable attorneys' fees, against any party litigant in any such suit, having due regard to the merits and good faith of the claims or defenses made by such litigant; but the provisions of this subsection B shall not apply to any suit instituted by the Trustee, to any suit instituted by any Bondholder, or group of 80ndho1ders, holding at least twenty-five percent (25%) in principal amount of the 80nds Outstanding, or to any suit instituted by any 80ndholder for the enforcement of the payment of the Principal Installment or Redemption Price of or interest on any Bond on or after the respective due date thereof expressed in such Bond. 1207. Possession of Bond by Trustee Not Required. All rights of action under this Resolution or under any of the 80nds, enforceable by the Trustee, 64