Common use of Amendments Permitted Clause in Contracts

Amendments Permitted. This Indenture and the rights and obligations of the Authority, the Trustee and the Holders of the Bonds may be modified or amended from time to time and at any time for any lawful purpose, by an indenture or indentures supplemental hereto, which the Authority and the Trustee may enter into without the consent of any Bondholders but with the prior written consent of the Bank (as long as the Bank is not in default under the Letter of Credit). The foregoing to the contrary notwithstanding, no such modification or amendment shall, without the consent of the Holders of all Bonds then Outstanding, (i) extend the maturity date of any Bond, (ii) reduce the amount of principal thereof, (iii) extend the time of payment or change the method of computing the rate of interest thereon, without the consent of the Holder of each Bond so affected, or eliminate the Holders’ rights to tender the Bonds, (iv) extend the due date for the purchase of Bonds tendered by the Holders thereof, or (v) reduce the purchase price of such Bonds. It shall not be necessary for the consent of the Bondholders to approve the particular form of any Supplemental Indenture, but it shall be sufficient if such consent shall approve the substance thereof. Promptly after the execution by the Authority and the Trustee of any Supplemental Indenture pursuant to this Section 10.01, the Trustee shall mail a notice, setting forth in general terms the substance of such Supplemental Indenture, to each rating agency then rating the Bonds and the Holders of the Bonds at the address shown on the registration books of the Trustee. Any failure to give such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such Supplemental Indenture.

Amendments Permitted. This Indenture Trust Agreement and the rights and obligations of the Authority, Authority and of the Trustee and the Holders Owners of the Bonds may be modified or amended from time to time and at any time for any lawful purpose, by an indenture a supplement or indentures supplemental hereto, amendment hereto which shall become effective when the Authority and the Trustee may enter into without the consent of any Bondholders but with the prior written consent consents of the Bank (as long as the Bank is not Owners of at a majority in default under the Letter of Credit). The foregoing to the contrary notwithstanding, no such modification or amendment shall, without the consent aggregate principal amount of the Holders of all Bonds then Outstanding, exclusive of Bonds disqualified as provided in Section 9.02, shall have been filed with the Trustee. No such supplement or amendment shall (i1) extend the fixed maturity date of any BondBonds or reduce the interest rate thereon or extend the time of payment of interest, (ii) or reduce the amount of principal thereof or reduce any premium payable upon the redemption thereof, (iii) extend the time of payment or change the method of computing the rate of interest thereon, without the express consent of the Holder Owner of each Bond so affected, or eliminate the Holders’ rights to tender the Bonds, (iv) extend the due date for the purchase of Bonds tendered by the Holders thereofsuch Bond, or (v2) reduce the purchase price percentage of such Bonds. It Bonds required for the affirmative vote or written consent to an amendment or modification of this Trust Agreement, or (3) modify any of the rights or obligations of the Trustee without the written assent thereto by the Trustee. (a) to add to the covenants and agreements of the Authority in this Trust Agreement contained, other covenants and agreements thereafter to be observed, or to surrender any right or power herein reserved to or conferred upon the Authority which in either case shall not be necessary for adversely affect the consent interests of the Bondholders Owners of the Bonds; (b) to approve the particular form of cure, correct or supplement any Supplemental Indentureambiguous or defective provision contained in this Trust Agreement or in regard to questions arising under this Trust Agreement, but it shall be sufficient if such consent shall approve the substance thereof. Promptly after the execution by as the Authority may deem necessary or desirable and not inconsistent with this Trust Agreement, and which shall not adversely affect the Trustee of any Supplemental Indenture pursuant to this Section 10.01, the Trustee shall mail a notice, setting forth in general terms the substance of such Supplemental Indenture, to each rating agency then rating the Bonds and the Holders interests of the Bonds at the address shown on the registration books Owners of the Trustee. Any failure Bonds; (c) to give modify, amend or supplement this Trust Agreement in such noticemanner as to permit the qualification hereof under the Trust Trust Agreement Act of 1939, as amended, or any defect thereinsimilar federal statute hereafter in effect, and to add such other terms, conditions and provisions as may be permitted by said Act or similar federal statute, and which shall not, however, not materially adversely affect the interests of the Owners of the Bonds; (d) to maintain the exclusion of interest on the Bonds from gross income for federal income tax purposes; (e) to obtain a rating on the Bonds; or (f) to modify any of the provisions of this Trust Agreement in any way impair or affect other respect, provided that such modifications shall not have a material adverse effect on the validity interests of any such Supplemental Indenturethe Owners of the Bonds.

Amendments Permitted. This Indenture Trust Agreement and the rights and obligations of the AuthorityOwners of the Certificates, the Trustee Installment Sale Agreement and the Holders rights and obligations of the Bonds parties thereto, and the Assignment Agreement and the rights and obligations of the parties thereto, may be modified or amended from time to time and at any time for any lawful purpose, by an indenture or indentures a supplemental hereto, agreement which shall become effective when the Authority and the Trustee may enter into without the consent of any Bondholders but with the prior written consent of the Bank Owners of at least sixty percent (60%) in aggregate principal amount of the Certificates then Outstanding, exclusive of Certificates disqualified as long as provided in Section 9.03 hereof, shall have been filed with the Bank is not in default under the Letter of Credit)Trustee. The foregoing to the contrary notwithstanding, no No such modification or amendment shall, without the consent of the Holders of all Bonds then Outstanding, shall (i1) extend or have the effect of extending the fixed maturity date of any BondCertificate or reducing the interest rate with respect thereto or extending the time of payment of interest, (ii) reduce or reducing the amount of principal thereof, without the express consent of the Owner of such Certificate; or (iii2) extend reduce or have the effect of reducing the percentage of Certificates required for the affirmative vote or written consent to an amendment or modification of a Installment Sale Agreement; or (3) modify any of the rights or obligations of the Trustee without its written assent thereto. Any such supplemental agreement shall become effective as provided in Section 9.02 hereof. This Trust Agreement and the rights and obligations of the Owners of the Certificates and the Installment Sale Agreement and the rights and obligations of the respective parties thereto, may be modified or amended at any time of payment or change the method of computing the rate of interest thereonby a supplemental agreement, without the consent of any such Owners, but only to the Holder extent permitted by law and only (1) to add to the covenants and agreements of each Bond so affectedthe Corporation or the District; (2) to cure, correct or eliminate supplement any ambiguous or defective provision contained herein or therein and which shall not, in the Holders’ opinion of nationally recognized bond counsel, materially adversely affect the interests of the Owners of the Certificates; (3) in regard to questions arising hereunder or thereunder, as the parties hereto or thereto may deem necessary or desirable and which shall not, in the opinion of nationally recognized bond counsel, materially adversely affect the interests of the Owners of the Certificates; (4) to make such additions, deletions or modifications as may be necessary or appropriate in the opinion of bond counsel to assure the exclusion from gross income for federal income tax purposes of the interest component of Installment Payments and the interest payable with respect to the Certificates; (5) to add to the rights of the Trustee; or (6) to tender maintain the Bonds, (iv) extend rating or ratings assigned to the due date for the purchase of Bonds tendered Certificates. Any such supplemental agreement shall become effective upon execution and delivery by the Holders thereofparties hereto or thereto, or (v) reduce as the purchase price of such Bondscase may be. It shall This Trust Agreement and the Installment Sale Agreement may not be necessary for the consent modified or amended at any time by a supplemental agreement which would modify any of the Bondholders to approve rights and obligations of the particular form Trustee without its written assent thereto. The Trustee may request an opinion of Independent Counsel that any Supplemental Indenture, but it shall be sufficient if such consent shall approve amendment entered into hereunder complies with the substance thereof. Promptly after the execution by the Authority provisions of this Article IX and the Trustee of any Supplemental Indenture pursuant to this Section 10.01, the Trustee shall mail a notice, setting forth in general terms the substance of may rely conclusively on such Supplemental Indenture, to each rating agency then rating the Bonds and the Holders of the Bonds at the address shown on the registration books of the Trustee. Any failure to give such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such Supplemental Indentureopinion.

Amendments Permitted. This Indenture Agreement and the rights and obligations of the Authority, the Trustee Town and the Holders of the Owners of the Reassessment Bonds may be modified or amended from time to time and at any time for any lawful purposeby a Supplemental Agreement pursuant to the affirmative vote at a meeting of Owners, by an indenture or indentures supplemental hereto, which the Authority and the Trustee may enter into without the consent of any Bondholders but with the prior written consent without a meeting, of the Bank Owners of at least sixty percent (as long as the Bank is not 60%) in default under the Letter of Credit). The foregoing to the contrary notwithstanding, no such modification or amendment shall, without the consent aggregate principal amount of the Holders of all Reassessment Bonds then Outstanding, exclusive of Reassessment Bonds disqualified as provided in Section 8.04. No such modification or amendment, except as provided in Section 8.03, shall (i) extend the maturity date of any Reassessment Bond or reduce the interest rate thereon, or otherwise alter or impair the obligation of the Town to pay the principal of, and the interest and any premium on, any Bond, without the express consent of the Owner of such Bond, or (ii) permit the creation by the Town of any pledge or lien upon the Reassessments superior to or on a parity with the pledge and lien created for the benefit of the Reassessment Bonds (except as otherwise permitted by the Act, the Resolution of Issuance, the laws of the United States of America or and this Agreement), or reduce the amount percentage of principal thereof, Reassessment Bonds required for the amendment hereof. No such amendment may modify any of the rights or increase any of the obligations of the Fiscal Agent (iii) extend other than pursuant to Section 8.01(D))without its written consent. This Agreement and the rights and obligations of the Town and of the Owners may also be modified or amended at any time of payment or change the method of computing the rate of interest thereonby a Supplemental Agreement, without the consent of any Owners, only to the Holder extent permitted by law and only for any one or more of each Bond so affectedthe following purposes: (a) to add to the covenants and agreements of the Town in this Agreement contained, other covenants and agreements thereafter to be observed, or eliminate to limit or surrender any right or power herein reserved to or conferred upon the Holders’ rights Town; (b) to tender make modifications not adversely affecting any outstanding series of Reassessment Bonds of the Bonds, Town in any material respect; (ivc) extend the due date to make such provisions for the purchase purpose of Bonds tendered by the Holders thereofcuring any ambiguity, or (v) reduce of curing, correcting or supplementing any defective provision contained in this Agreement, or in regard to questions arising under this Agreement, as the purchase price of such Bonds. It Town may deem necessary or desirable and not inconsistent with this Agreement, and which shall not adversely affect the rights of the Owners of the Reassessment Bonds; or (d) to make such additions, deletions or modifications as may be necessary for the consent or desirable to assure exemption from federal income taxation of the Bondholders to approve the particular form of any Supplemental Indenture, but it shall be sufficient if such consent shall approve the substance thereof. Promptly after the execution by interest on the Authority and the Trustee of any Supplemental Indenture pursuant to this Section 10.01, the Trustee shall mail a notice, setting forth in general terms the substance of such Supplemental Indenture, to each rating agency then rating the Bonds and the Holders of the Bonds at the address shown on the registration books of the Trustee. Any failure to give such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such Supplemental IndentureBonds.