Common use of Modification with Consent of Holders Clause in Contracts

Modification with Consent of Holders. With the consent of Holders of a majority of the Outstanding Principal Balance of the Notes on the date of any vote of such Holders (voting as a single class), the Issuer, when authorized by a Board Resolution, may amend or modify this Indenture or the Notes; provided that, without the consent of Holders of one hundred percent (100%) of the Outstanding Principal Balance of the class of Notes affected thereby, no such amendment may reduce the percentage of Holders of any such class of Notes required to take or approve any action hereunder; change the amount or the time of payment of any amount owing or payable with respect to any such class of Notes or change the rate or manner of calculation of interest payable with respect to any such class of Notes; alter or modify the provisions with respect to the Collateral for the Notes or the manner of payment or the order of priorities in which payments or distributions hereunder will be made as between the Holders of such Notes and the Issuer; or consent to any assignment of the Issuer’s rights to a party other than the Trustee for the benefit of the Noteholders (each, a “Basic Terms Modification”); provided further, that the Holders of a majority of the Outstanding Principal Balance of the Senior Class of Notes, by written notice to the Trustee, may waive any Default or Event of Default pursuant to Section 4.05 hereof. It shall not be necessary for the consent of the Holders under this Section 9.01 to approve the particular form of any proposed amendment or waiver, but it shall be sufficient if such consent approves the substance thereof. Any such modification approved by the required Holders of any class of Notes will be binding on the Holders of the relevant class of Notes and each party to the Indenture. After an amendment under this Section 9.01 becomes effective, the Issuer shall mail to the Holders a notice briefly describing such amendment. Any failure of the Issuer to mail such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such amendment. After an amendment under this Section 9.01 becomes effective, it shall bind every Holder, whether or not notation thereof is made on any Note held by such Holder.

Modification with Consent of Holders. With the consent of Holders of a majority of the Outstanding Principal Balance of the Notes on the date of any vote of such Holders (voting as a single class), the Issuer, when authorized by a Board Resolution, may amend or modify this Indenture or the Notes; provided that, without the consent of Holders of one hundred percent (100%) of the Outstanding Principal Balance of the class of Notes affected thereby, no such amendment may reduce the percentage of Holders of any such class of Notes required to take or approve any action hereunder; change the amount or the time of payment of any amount owing or payable with respect to any such class of Notes or change the rate or manner of calculation of interest payable with respect to any such class of Notes; alter or modify the provisions with respect to the Collateral for the Notes or the manner of payment or the order of priorities in which payments or distributions hereunder will be made as between the Holders of such Notes and the Issuer; or consent to any assignment of the Issuer’s 's rights to a party other than the Trustee for the benefit of the Noteholders (each, a “"Basic Terms Modification”"); provided further, that the Holders of a majority of the Outstanding Principal Balance of the Senior Class of Notes, by written notice to the Trustee, may waive any Default or Event of Default pursuant to Section 4.05 hereof. It shall not be necessary for the consent of the Holders under this Section 9.01 to approve the particular form of any proposed amendment or waiver, but it shall be sufficient if such consent approves the substance thereof. Any such modification approved by the required Holders of any class of Notes will be binding on the Holders of the relevant class of Notes and each party to the Indenture. After an amendment under this Section 9.01 becomes effective, the Issuer shall mail to the Holders a notice briefly describing such amendment. Any failure of the Issuer to mail such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such amendment. After an amendment under this Section 9.01 becomes effective, it shall bind every Holder, whether or not notation thereof is made on any Note held by such Holder.

Modification with Consent of Holders. With the consent of Holders of a majority of the Outstanding Principal Balance of the Notes on the date of any vote of such Holders (voting as a single class), the Issuer, when authorized by a Board Resolutionresolution of the Board, may amend or modify this Indenture or the Notes; provided that, without the consent of Holders each Swap Provider and each Holder of one hundred percent (100%) of the Outstanding Principal Balance of the class of any Notes affected thereby, no such amendment may modify the provisions of this Indenture or the Notes setting forth the frequency or the currency of payment of, the maturity of, or the method of calculation of the amount of, any interest, principal and Premium, if any, payable in respect of any subclass of 108 Notes, or reduce the percentage of Holders the aggregate Outstanding Principal Balance of any such class subclass of Notes required to take or approve any action hereunder; change amendment or waiver of this Section 9.01 or alter the amount manner or the time priority of payment of any amount owing or payable with respect to any such class subclass of Notes or change the rate or manner of calculation of interest payable with respect to any such class of Notes; alter or modify the provisions with respect to the Collateral for the Notes or the manner of payment or the order of priorities in which payments or distributions hereunder will be made as between the Holders of such Notes and the Issuer; or consent to any assignment of the Issuer’s rights to a party other than the Trustee for the benefit of the Noteholders (each, a “"Basic Terms Modification”"); provided further, that the Holders of a majority of the Outstanding Principal Balance of the Senior Class of Notes, by written notice to the Trustee, may waive any Default or Event of Default pursuant to Section 4.05 hereof. It shall not be necessary for the consent of the Holders under this Section 9.01 to approve the particular form of any proposed amendment or waiver, but it shall be sufficient if such consent approves the substance thereof. Any such modification approved by the required Holders of any class or subclass of Notes will be binding on the Holders of the relevant class or subclass of Notes and each party to the Indenture. After The Issuer shall give each Rating Agency prior notice of any amendment under this Section 9.01 and any amendments of the constitutive documents by the Issuer or any Issuer Subsidiaries, and, after an amendment under this Section 9.01 becomes effective, the Issuer shall mail to the Holders and the Rating Agencies a notice briefly describing such amendment. Any failure of the Issuer to mail such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such amendment. After an amendment under this Section 9.01 becomes effective, it shall bind every Holder, whether or not notation thereof is made on any Note held by such Holder.

Modification with Consent of Holders. With the consent of Holders of a majority of the Outstanding Principal Balance of the Notes on the date of any vote of such Holders (voting as a single class), the Issuer, when authorized by a Board Resolutionresolution of the Board, may amend or modify this Indenture or the Notes; provided that, without the consent of Holders each Swap Provider and each Holder of one hundred percent (100%) of the Outstanding Principal Balance of the class of any Notes affected thereby, no such amendment may modify the provisions of this Indenture or the Notes setting forth the frequency or the currency of payment of, the maturity of, or the method of calculation of the 107 amount of, any interest, principal and Premium, if any, payable in respect of any subclass of Notes, or reduce the percentage of Holders the aggregate Outstanding Principal Balance of any such class subclass of Notes required to take or approve any action hereunder; change amendment or waiver of this Section 9.01 or alter the amount manner or the time priority of payment of any amount owing or payable with respect to any such class subclass of Notes or change the rate or manner of calculation of interest payable with respect to any such class of Notes; alter or modify the provisions with respect to the Collateral for the Notes or the manner of payment or the order of priorities in which payments or distributions hereunder will be made as between the Holders of such Notes and the Issuer; or consent to any assignment of the Issuer’s rights to a party other than the Trustee for the benefit of the Noteholders (each, a “"Basic Terms Modification”"); provided further, that the Holders of a majority of the Outstanding Principal Balance of the Senior Class of Notes, by written notice to the Trustee, may waive any Default or Event of Default pursuant to Section 4.05 hereof. It shall not be necessary for the consent of the Holders under this Section 9.01 to approve the particular form of any proposed amendment or waiver, but it shall be sufficient if such consent approves the substance thereof. Any such modification approved by the required Holders of any class or subclass of Notes will be binding on the Holders of the relevant class or subclass of Notes and each party to the Indenture. After The Issuer shall give each Rating Agency prior notice of any amendment under this Section 9.01 and any amendments of its constitutive documents by the Issuer or any Issuer Subsidiaries, and, after an amendment under this Section 9.01 becomes effective, the Issuer shall mail to the Holders and the Rating Agencies a notice briefly describing such amendment. Any failure of the Issuer to mail such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such amendment. After an amendment under this Section 9.01 becomes effective, it shall bind every Holder, whether or not notation thereof is made on any Note held by such Holder.