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appear on the registration books. Such notice shall briefly set forth the nature of the proposed <br /> Supplemental Resolution and shall state that copies thereof are on file at the offices of the Clerk <br /> and the Registrar for inspection by all Bondholders. The Issuer shall not,however,be subject to <br /> any liability to any Bondholder by reason of its failure to cause the notice required by this <br /> Section 7.02 to be mailed and any such failure shall not affect the validity of such Supplemental <br /> Resolution when consented to and approved as provided in this Section 7.02. <br /> Whenever the Issuer shall deliver to the Clerk an instrument or instruments in writing <br /> purporting to be executed by the Holders of not less than a majority in aggregate principal <br /> amount of the Bonds then Outstanding, which instrument or instruments shall refer to the <br /> proposed Supplemental Resolution described in such notice and shall specifically consent to <br /> and approve the adoption thereof in substantially the form of the copy thereof referred to in <br /> such notice, thereupon, but not otherwise, the Issuer may adopt such Supplemental Resolution <br /> in substantially such form, without liability or responsibility to any Holder of any Bond, <br /> whether or not such Holder shall have consented thereto. <br /> If the Holders of not less than a majority in aggregate principal amount of the Bonds <br /> Outstanding at the time of the adoption of such Supplemental Resolution shall have consented <br /> to and approved the adoption thereof as herein provided,no Holder of any Bond shall have any <br /> right to object to the adoption of such Supplemental Resolution, or to object to any of the terms <br /> and provisions contained therein or the operation thereof, or in any manner to question the <br /> propriety of the adoption thereof, or to enjoin or restrain the Issuer from adopting the same or <br /> from taking any action pursuant to the provisions thereof. <br /> Upon the adoption of any Supplemental Resolution pursuant to the provisions of this <br /> Section 7.02, this Resolution shall be deemed to be modified and amended in accordance <br /> therewith, and the respective rights, duties and obligations under this Resolution of the Issuer <br /> and all Holders of Bonds then Outstanding shall thereafter be determined, exercised and <br /> enforced in all respects under the provisions of this Resolution as so modified and amended. <br /> SECTION 7.03 Supplemental Resolutions with Insurer's Consent in lieu of <br /> Bondholders' Consent. Notwithstanding any provisions of Section 7.02 above to the contrary, <br /> if the Insurer of a particular Series of Bonds is not then in default in the performance of any of <br /> its obligations under its Insurance Policy, the approvals, consents and notifications required by <br /> Section 7.02 above to be given by or to the Holders of the Bonds, as the case may be, subject to <br /> such Insurance Policy shall be given solely by or to the Insurer, as the case may be, and the <br /> instrument contemplated by Section 7.02 above shall be executed solely by the Insurer and the <br /> Holders of the Bonds subject to such Insurance Policy shall have no right to receive such <br /> notification or give such approvals and consents or to execute such certificate except that the <br /> adoption of Supplemental Resolutions that would have any of the effects described in (A) <br /> through(E) in Section 7.02 above shall require the approval and consent of all Holders of Bonds <br /> then Outstanding and the Insurer. <br /> ARTICLE VIII <br /> MISCELLANEOUS <br /> SECTION 8.01 Defeasance. If the Issuer shall pay or cause to be paid, or there <br /> shall otherwise be paid to the Holders of all Bonds, the principal or Redemption Price, if <br /> applicable, and interest due or to become due thereon, at the times and in the manner stipulated <br /> therein and in this Resolution, then the pledge of the Pledged Funds, and all covenants, <br /> agreements and other obligations of the Issuer to the Bondholders, shall thereupon cease, <br /> terminate and become void and be discharged and satisfied. In such event, the Paying Agents <br /> shall pay over or deliver to the Issuer all money or securities held by them pursuant to this <br /> Resolution which are not required for the payment or redemption of Bonds not theretofore <br /> surrendered for such payment or redemption. <br /> Any Bonds or interest installments appertaining thereto, whether at or prior to the <br /> maturity or redemption date of such Bonds, shall be deemed to have been paid within the <br /> meaning of this Section 8.01 if (A) in case any such Bonds are to be redeemed prior to the <br /> 27 <br />