Indenture Group Approval Sample Clauses

Indenture Group Approval. 8.4.1 The approval or authorization of any action, transaction, program or procedure relating to Bonds or an Indenture by the Indenture Group A Participants shall be given at a meeting of the representatives to the Participant Committee of the Indenture Group A Participants. A quorum for the Indenture Group A representatives to the Participant Committee taking any action shall consist of either: (i) the representatives of a majority of the Non-Defaulting Indenture Group A Participants; or (ii) the representatives of Non-Defaulting Indenture Group A Participants holding a GES of not less than a majority of the aggregate GES of all Non-Defaulting Indenture Group A Participants. One of the representatives to the Participant Committee of the Indenture Group A Participants shall be appointed Secretary for the meeting and shall prepare written minutes of the meeting. The approval or authorization of any action, transaction, program or procedure relating to Bonds or an Indenture by the Indenture Group A Participants shall be given by the approving vote for a resolution, motion, minute order or other appropriate act noted in the meeting minutes to that effect of a majority of the quorum of the meeting; provided, however, that if the representative of any Non-Defaulting Indenture Group A Participant requests, at any time prior to, at or within 10 days after the Indenture Group A Participant Committee representatives meeting, that such action, transaction, program or procedure be approved by a GES vote, then the approval or authorization of such action, transaction, program or procedure by the Indenture Group A Participant Committee representatives shall be given by the approving vote for a resolution, motion, minute order or other appropriate act noted in the meeting minutes to that effect by the representatives of Non- Defaulting Indenture Group A Participants then holding a GES of not less than 65% of the GES of all then Non-Defaulting Indenture Group A Participants; except that, for the purposes of this Section 8.4.1 only, the GES of any Non- Defaulting Indenture Group A Participant in excess of 35% shall be reduced to 35% so the representative of a single Non-Defaulting Indenture Group A Participant shall not be able to prevent the approval or authorization of any action, transaction, program or procedure by the Indenture Group A Participant Committee representatives pursuant to this Section 8.4.1. 8.4.2 Approval by the Indenture Group A Participants in accorda...