Guam § 7 - Trustee to Represent Bondholders.

§ 7. Trustee to Represent Bondholders.

The Trustee is hereby appointed (and the successive

respective Holders of the Bands, by taking and holding the same,

shall be conclusively deemed to have so appointed the Trustee) as

trustee and true and lawful attorney-in-fact of the Holders of the

Bonds for the purpose of exercising and prosecuting on their

behalf such rights and remedies as may be available to such

Holders under the provisions of the Bonds and this Indenture, as

well as under the Act and applicable provisions of any other law.

Upon the occurrence and continuance of an Event of Default or

other occasion giving rise to a right in the Trustee to represent the

Bondholders, the Trustee in its discretion may, and upon the

written request of the Holders of not less than twenty-five percent

(25%) in aggregate principal amount of the Bonds then

Outstanding, and upon being indemnified to its satisfaction

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therefor, shall, proceed to protect or enforce its rights or the rights

of such Holders by such appropriate suit, action, mandamus or

other proceedings as it shall deem most effectual to protect and

enforce any such right, at law or in equity, either for the specific

performance of any covenant or agreement contained herein, or in

aid of the execution of any power herein granted, or for the

enforcement of any other appropriate legal or equitable right or

remedy vested in the Trustee or in such Holders under this

Indenture, the Act or any other law; and upon instituting such

proceeding, the Trustee shall be entitled, as a matter of right to the

appointment of a receiver of the Revenues and other assets

pledged under this Indenture, pending such proceedings. All rights

of action under this Indenture or the Bonds or otherwise may be

prosecuted and enforced by the Trustee without the possession of

any of the Bonds or the production thereof in any proceeding;

relating thereto, and any such suit, action or proceeding instituted

by the Trustee shall be brought in the name of the Trustee for the

benefit and protection of all the Holders of such Bonds, subject to

the provisions of this Indenture.