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materially and adversely affect the right of Owners of Outstanding Obligations issued prior to any such Supplement. ARTICLE VII PREPAYMENT OF INSTALLMENT PAYMENTS SECTION 7.01. Prepayment of Installment Payments. Provisions may be made in any Supplement for the prepayment of Installment Payments, in whole or in part, in such multiples and in such order of maturity and from funds of any source, and with such prepayment premiums and other teens as are specified in the Supplement. Said Supplement shall also provide for any notices to be given relating to such prepayment. ARTICLE VIII EVENTS OF DEFAULT AND REMEDIES OF THE AUTHORITY SECTION 8.01. Events of Default and Acceleration of Maturities. If one or more of the following Events of Default shall happen, that is to say -- (1) if default shall be made in the due and punctual payment of or on account of any Parity Obligation (other than a Qualified Swap Agreement) as the same shall become due and payable; (2) if default shall be made by the City in the performance of any of the agreements or covenants required herein to be performed by it (other than as specified in (1) above and other than any such agreements or covenants, if any, arising in connection with any Qualified Swap Agreement), and such default shall have continued for a period of sixty (60) days after the City shall have been given notice in writing of such default by the Authority; (3) if any Event of Default specified in any Supplement or Issuing Instrument shall have occurred and be continuing; or (4) if the City shall file a petition or answer seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if a court of competent jurisdiction shall approve a petition filed with or without the consent of the City seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, 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 City or of the whole or any substantial part of its property; then and in each and every such case during the continuance of such Event of Default the Authority shall upon the written request of the Owners of twenty -five percent (25 %) or more of the aggregate principal amount of all Series of Parity Installment Obligations Outstanding, voting collectively as a single class, by notice in writing to the City, declare the entire unpaid principal amount thereof and the accrued interest thereon to be due and payable immediately, 55394.00011 \8819608.3 24