Common use of Future Certificates Clause in Contracts

Future Certificates. The Corporation shall have the right to issue additional Certificates hereunder and to authorize additional series of certificates of indebtedness provided the Corporation is not in default under any provision of this Indenture. Such additional Certificates and/or series of certificates of indebtedness shall be issued pursuant to resolution duly adopted by the governing body of the Corporation; provided, however, that the additional Certificates and series of indebtedness are issued pursuant to a supplement to this Indenture. An executed copy of said supplemental Indenture, signed by the Corporation and the Trustee shall serve as a modification of this Indenture. Such additional Certificates shall be of equal standing and priority with all other series of Certificates issued hereunder.