Common use of Modification with Consent of Bondholders Clause in Contracts

Modification with Consent of Bondholders. With the consent of the holders of not less than sixty-six and two-thirds percent (66 2/3%) in aggregate principal amount of the Bonds at the time Outstanding, evidenced as provided in Section XI.11.6 hereof, and the Credit Provider, if any, (i) the County and the Trustee may from time to time and at any time enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of any supplemental indenture; or (ii) the Trustee may consent to any Amendment to any Document and any other matters for which its consent is required pursuant to Section VI.6.4 hereof; provided, however, that no such supplement or Amendment will have the effect of extending the time for payment or reducing any amount due and payable by the Borrower pursuant to the Agreement without the consent of all the holders of the Bonds; and that no such supplemental indenture shall (1) extend the fixed maturity of any Bond or reduce the rate of interest thereon or extend the time of payment of interest, or reduce the amount of the principal thereof, or reduce any premium payable on the redemption thereof, without the consent of the holder of each Bond so affected, or (2) reduce the aforesaid percentage of holders of Bonds whose consent is required for the execution of such supplemental indentures, or permit the creation of any lien on the Revenues prior to or on a parity with the lien of this Indenture, except as permitted herein, or permit the creation of any preference of any Bondholder over any other Bondholder, except as permitted herein, or deprive the holders of the Bonds of the lien created by this Indenture upon the Revenues, without the consent of the holders of all the Bonds then Outstanding. Nothing in this paragraph shall be construed as making necessary the approval of any Bondholder of any supplemental indenture or Amendment permitted by the provisions of Section IX.9.1. Upon receipt by the Trustee of a Certified Resolution authorizing the execution of any such supplemental indenture or Amendment, and upon the filing with the Trustee of evidence of the consent of the Bondholders and the Credit Provider, if any, as aforesaid, the Trustee shall join with the County in the execution of such supplemental indenture or shall consent to such Amendment; provided, however, that (i) the Trustee shall not be obligated to enter into any such supplemental indenture which affects the Trustee's own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may in its sole discretion, but shall not be obligated to, enter into such supplemental indenture; and (ii) the Trustee shall not enter into such supplemental indenture or Amendment without first obtaining the Borrower's written consent thereto. It shall not be necessary for the consent of the Bondholders under this Section to approve the particular form of any proposed supplemental indenture or Amendment, but it shall be sufficient if such consent shall approve the substance thereof.

Modification with Consent of Bondholders. With the consent of the holders Holders of not less than sixty-six and two-thirds percent (66 2/3%) a majority in aggregate principal amount of the Bonds at the time Outstanding), evidenced as provided in Section XI.11.6 hereof, and the Credit Provider, if any, (i) the County Authority and the Trustee may from time to time and at any time time, with an Opinion of Bond Counsel to the effect that such amendment or modification will not, in and of itself, cause the interest on the Tax Exempt Bonds to be included as gross income for federal income tax purposes, enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of any supplemental indenture; or (ii) the Trustee may consent to any Amendment to any Document and any other matters for which its consent is required pursuant to Section VI.6.4 hereof; provided, however, that no such supplement or Amendment will have the effect of extending the time for payment or reducing any amount due and payable by the Borrower pursuant to the Agreement without the consent of all the holders of the Bonds; and that no such supplemental indenture shall (1) extend the fixed maturity of any Bond Bonds or reduce the rate of interest thereon or extend the time of payment of interest, or reduce the amount of the principal thereof, or reduce any premium payable on the redemption thereof, without the consent of the holder of each Bond so affected, thereof or (2) reduce the aforesaid percentage of holders Holders of Bonds whose consent is required for the execution of such supplemental indentures, indentures or extend the time of payment or permit the creation of any lien on the Revenues Payments or the assets pledged herein prior to or on a parity with the lien of this Indenture, except as permitted herein, or permit the creation of any preference of any Bondholder over any other Bondholder, except as permitted herein, Indenture or deprive the holders Holders of the Bonds of the lien created by this Indenture upon the RevenuesPayments or the assets pledged herein, without the consent of the holders Holders of all of the Bonds then Outstanding. Nothing in this paragraph shall be construed as making necessary the approval of any Bondholder of any supplemental indenture or Amendment permitted by the provisions of Section IX.9.1. Upon receipt by the Trustee of a Certified Resolution authorizing the execution of any such supplemental indenture or Amendment, and upon the filing with the Trustee of evidence of the consent of the Bondholders and the Credit Provider, if anyBondholders, as aforesaid, the Trustee shall join with the County Authority in the execution of such supplemental indenture or shall consent to such Amendment; provided, however, that (i) the Trustee shall not be obligated to enter into any unless such supplemental indenture which affects the Trustee's ’s own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may in its sole discretion, but shall not be obligated to, enter into such supplemental indenture; and (ii) the Trustee shall not enter into such supplemental indenture or Amendment without first obtaining the Borrower's written consent thereto. It shall not be necessary for the consent of the Bondholders under this Section 9.02 to approve the particular form of any proposed supplemental indenture or Amendmentindenture, 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 the provisions of this Section, the Authority shall mail a notice to the Trustee setting forth in general terms the substance of such supplemental indenture, and the Trustee, upon receipt of such notice, shall mail such notice to the Corporation and the Bondholders at the addresses shown on the Bond registration books maintained by the Trustee, at the expense of the Corporation. Any failure of the Authority or the Trustee to give such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such supplemental indenture. The Trustee shall mail an executed copy of such supplemental indenture and any amendment of the Loan Agreement permitted under Section 6.06 hereof to the Corporation, each Rating Agency then rating the Bonds promptly after execution by the Authority, the Trustee, and in the case of the Loan Agreement, the Corporation. The Authority shall mail drafts of any such documents to such parties prior to execution thereof.

Modification with Consent of Bondholders. With the consent of the Credit Bank (during the term of the Letter of Credit) and the holders of not less than sixty-six and two-thirds percent (66 66-2/3%) in aggregate principal amount of the Bonds at the time Outstandingthen Outstanding Bonds, evidenced as provided in Section XI.11.6 hereof11.7, and the Credit Provider, if any, (i) the County Issuer and the Trustee may from time to time and at any time enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of any supplemental indenture; or (ii) the Trustee may consent to any Amendment to any Document and any other matters for which its consent is required pursuant to Section VI.6.4 hereofSupplemental Indenture; provided, however, that no such supplement or Amendment will have the effect of extending the time for payment or reducing any amount due and payable by the Borrower pursuant to the Agreement without the consent of all the holders of the Bonds; and that no such supplemental indenture Supplemental Indenture shall (1i) extend the fixed maturity of any Bond or reduce the rate of interest thereon or extend the time of payment of interest, or reduce the amount of the principal thereof, or reduce any premium payable on the redemption thereof, without the consent of the holder of each Bond so affected, or (2ii) reduce the aforesaid percentage of holders of Bonds whose consent is required for the execution of such supplemental indenturesSupplemental Indentures, or extend the time of payment or reduce the amount of any sinking fund payment, or permit the creation of any lien on the Revenues prior to or on a parity with the lien of this Indenture, except as permitted herein, or permit the creation of any preference of any Bondholder over any other Bondholder, except as permitted herein, Bondholder or deprive the holders of the Bonds of the lien created by this Indenture upon the Revenues, without the consent of the holders of all the Bonds then Outstanding. Nothing in this paragraph shall be construed as making necessary the approval of any Bondholder of any supplemental indenture or Amendment permitted by the provisions of Section IX.9.1. Upon receipt by the Trustee 101 of a Certified Resolution authorizing the execution of any such supplemental indenture or AmendmentSupplemental Indenture, and upon the filing with the Trustee of evidence of the consent of the Bondholders Company, the Credit Bank and the Credit Provider, if anyBondholders, as aforesaid, the Trustee shall join with the County Issuer in the execution of such supplemental indenture or shall consent to Supplemental Indenture, unless such Amendment; provided, however, that (i) the Trustee shall not be obligated to enter into any such supplemental indenture which Supplemental Indenture affects the Trustee's own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may in its sole discretion, but shall not be obligated to, enter into such supplemental indenture; and (ii) the Trustee shall not enter into such supplemental indenture or Amendment without first obtaining the Borrower's written consent theretoSupplemental Indenture. It shall not be necessary for the consent of the Bondholders under this Section to approve the particular form of any proposed supplemental indenture or AmendmentSupplemental Indenture, but it shall be sufficient if such consent shall approve the substance thereof. Promptly after the execution by the Issuer and the Trustee of any Supplemental Indenture pursuant to the provisions of this Section, the Trustee shall give Notice by Mail, setting forth in general terms the substance of such Supplemental Indenture, to each bondholder at the address contained in the bond register maintained by the Trustee. Any failure of the Trustee to give such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such Supplemental Indenture.

Modification with Consent of Bondholders. With the consent of the holders of not less than sixty-six and two-thirds percent (66 2/3662/3%) in aggregate principal amount of the Bonds at the time Outstanding, evidenced as provided in Section XI.11.6 hereof, and the Credit Provider11.06, if any, (i) the County Authority and the Trustee may from time to time and at any time enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of any supplemental indenture; or (ii) the Trustee may consent to any Amendment to any Document the Agreement and any other matters for which its consent is required pursuant to Section VI.6.4 6.04 hereof; provided, however, that no such supplement or Amendment will have the effect of extending the time for payment or reducing any amount due and payable by the Borrower pursuant to the Agreement without the consent of all the holders of the Bonds; and that no such supplemental indenture shall (1) extend the fixed maturity of any Bond or reduce the rate of interest thereon or extend the time of payment of interest, or reduce the amount of the principal thereof, or reduce any premium payable on the redemption thereof, without the consent of the holder of each Bond so affected, or (2) reduce the aforesaid percentage of holders of Bonds whose consent is required for the execution of such supplemental indentures, or permit the creation of any lien on the Revenues prior to or on a parity with the lien of this Indenture, except as permitted herein, or permit the creation of any preference of any Bondholder over any other Bondholder, except as permitted herein, or deprive the holders of the Bonds of the lien created by this Indenture upon the Revenues, without the consent of the holders of all the Bonds then Outstanding. Nothing in this paragraph shall be construed as making necessary the approval of any Bondholder of any supplemental indenture or Amendment permitted by the provisions of Section IX.9.19.01. Upon receipt by the Trustee of a Certified Resolution authorizing the execution of any such supplemental indenture or Amendment, and upon the filing with the Trustee of evidence of the consent of the Bondholders and the Credit ProviderBondholders, if any, as aforesaid, the Trustee shall join with the County Authority in the execution of such supplemental indenture or shall consent to such Amendment; provided, however, that (i) the Trustee shall not be obligated to enter into any such supplemental indenture which affects the Trustee's own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may in its sole discretion, but shall not be obligated to, enter into such supplemental indenture; and (ii) the Trustee shall not enter into such supplemental indenture or Amendment without first obtaining the Borrower's written consent thereto. It shall not be necessary for the consent of the Bondholders under this Section to approve the particular form of any proposed supplemental indenture or Amendment, but it shall be sufficient if such consent shall approve the substance thereof. Promptly after the execution by the parties thereto of any supplemental indenture or Amendment as provided in this Section, the Trustee shall mail a notice (prepared by the Borrower) setting forth in general terms the substance of such supplemental indenture or such Amendment to each Bondholder at the address contained in the bond register maintained by the Registrar. Any failure of the Trustee to give such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such supplemental indenture or such Amendment.