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1206. Bondholders' Direction of Proceedings. Anything in this Res.olution to "the contrary notwithstanding, the H.olders of the majority in principal amount of the Bonds then Outstanding shall have the right, by an instrument or concurrent instruments in writing executed and delivered to the Trustee, to direct the method of conducting all remedial proceedings to be taken by the Trustee hereunder; provided that such direction shall n.ot be otherwise than in accordance with law or the provisi.ons of this Resolution, and that the Trustee shall have the right to decline to foll.ow any such direction which in the opinion of the Trustee would be unjustly prejudicial to Bondholders not parties to such direction. 1207. Limitation.on Rights of B.ondholders. N.o Holder .of any Bond shall have any right t.o institute any suit, action or other proceeding hereunder, or f.or the protection or enforcement of any right under this Resolution or any right 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 pr.oceeding is t.o be taken, and unless the H.olders of not less than twenty-five percent (25%) in principal am.ount of the Bonds then Outstand i ng shall have made wr i tten request of the Trustee after the ri ght 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 notificati.on, request and offer of indemnity are hereby declared in every such case, at the option of the Trustee, to be c.onditions 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 IOOre Holders .of the B.onds hereby secured shall have any right in any manner whatever by his or their. action to affect, disturb or prejudice the security of this Res.olution, 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 the Outstanding Bonds and coupons. Anything to the contrary notwithstanding contained in this Section 1207, or any other provision of this Resolution, each Holder of any Bond by his 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 the Res.olution 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 paragraph shall n.ot apply to any suit instituted by the Trustee, to any suit instituted by any 59 . . . . .