7. The Committee may exercise as to all of such bonds, debentures, preferred stock, claims and rights, all rights incidental to the ownership thereof, and any and all rights and powers appertaining to the legal holders of said securities. The Committee is hereby authorized and empowered at any time and from time to time (1) to foreclose or otherwise enforce any and all mortgages or other liens upon the property or any part thereof of the Company; (2) to consent to the issuance and delivery to................, of..............Bonds of the
Company equal in amount to the unsecured open indebtedness of the Company to the said................pro rata to the present issue of said bonds, but if the total amount of such bonds is not sufficient for this purpose, then to make pro rata contributions of deposited bonds, if necessary, to accomplish the desired result; (3) to subordinate any mortgage or lien to any other mortgage or lien upon all or any part of the property of the Company, to compound, pay, or otherwise satisfy any such mortgage or other lien, and to receive in consideration therefor the stock, bonds, or other securities, of any corporation or corporations; (4) to consent that any mortgage or other lien upon part of the property of the Company may be made a lien upon property of the Company not now subject to such lien, should such consent be necessary to procure loans for the Company; (5) to sell from time to time all or any part of the property of the Company whether real or personal at such times and in such manner whether at public or private sale as in the discretion of the Committee shall seem just and proper, and itself at any such sale to buy in the property on behalf of the Depositors; (6) to exchange from time to time all or any part of said property, taking in return therefor other property either real or personal, including stocks, bonds and other securities; (7) to organize a new corporation to purchase all or any part of the property of the Company; (8) to operate all or any part of the property as a manufacturing or as a real estate proposition or otherwise, and to lease the same, to improve all or any part of the real estate, construct, alter or repair buildings, repair, add to, alter or discontinue the power plant; (9) to take all necessary or proper steps from time to time to elect or cause to be elected directors of the Company, appoint or cause to be appointed officers thereof, and to hire and discharge or cause to be hired or discharged all employees of the Company of whatever rank and to determine their compensation; (10) to become parties to a new voting trust agreement relating to either the preferred or common stock of the Company, to consent to amendments of the present voting trust agreement under which the common stock of the Company has been deposited and from time to time to appoint new trustees under any such trust agreements; (11) to consent on behalf of the Depositors to any of the acts and things hereinbefore mentioned, and to take such steps and execute such papers as may be either necessary or proper to carry out any of the foregoing powers.
8. In addition to the foregoing powers the Committee at any time and from time to time may purchase or otherwise acquire or enter into agreements for the purchase or acquisition of any of said securities or of any of the obligations or of any of the property of the Company or of any other company or corporation now or hereafter organized, as the Committee in its uncontrolled discretion may deem necessary for the protection or advancement of the interests of the Depositors; and may sell or exchange or enter into agreements for the sale or exchange of any of the said securities deposited hereunder or of any shares of stock, bonds, obligations, or other securities or other property purchased or acquired by the Committee for such considerations and upon such terms and conditions as the Committee in its uncontrolled discretion may deem advanta-geous and for the interests of the Depositors. Any such sale or exchange may provide for the sale or exchange of the deposited securities for cash or property or in consideration for shares of stock, bonds, obligations, or other securities of the Company and/or of any other company or corporation now or hereafter organized, or partly for cash and partly for any such shares of stock, bonds, obligations or other securities or property, upon such terms and conditions as the Committee may in its uncontrolled discretion determine, and any such sale or exchange made by the Committee in good faith shall be final and conclusive upon the Depositors. The net proceeds of any such sale shall be distributed among the depositors subject to the provisions of this agreement and in accordance with the provisions and terms of a plan of reorganization or for the management and disposal of the properties of the Company which shall be adopted by the Committee and by those Depositors who do not withdraw their securities upon the conditions hereinafter set forth.
9. The Committee is fully authorized and empowered, in the name of the Committee as owner and holder of said securities or otherwise, at any time and from time to time, to take or institute or cause to be taken or instituted all such suits, actions or proceedings, whether legal, equitable, in bankruptcy or otherwise, for the recovery of the principal of and/or interest upon any class or classes of said securities, or for any other purpose which might affect the said Company or any of its property or any of the said securities, to intervene in or become a party to, or exercise control over any suits, actions or proceedings, to procure the appointment of Receivers or Trustees in Bankruptcy, to give such directions, to execute such papers, including powers of attorney, releases, waivers, acquittances in full or in part of any claims, and to do, execute and perform any and all such acts and things as to it shall seem necessary or proper for the purpose of perfecting its title to any security endorsed or assigned to it or its nominee, or deposited with the Depositary, or of protecting or enforcing the interests and rights of the depositors or otherwise for the purposes of this agreement. It may demand, collect and receive any and all amounts of cash, securities or other property that at any time may be payable or receivable upon or in respect of the deposited securities, either as principal or interest, and whether upon any reorganization or readjustment of the Company, or disposition of its properties or otherwise, and may distribute the same among the depositors subject to the provisions of this agreement and in accordance with the provisions and terms of a plan either of reorganization or for the management and disposal of the properties of the Company, which shall be adopted or approved by the Committee; it may make all requests and demands which the Committee may deem proper and may exercise in its uncontrolled discretion in respect to the deposited securities all rights and powers vested in or conferred upon the owners and holders of such securities, by the term of any of said securities or of any instruments or writings creating or representing said securities, or by the Laws of the State of New York, or otherwise.