Common use of Modifications and Amendments; Waiver Clause in Contracts

Modifications and Amendments; Waiver. Modifications and amendments to these Terms and Conditions may be made without the consent of the holders of the Preferred Securities, to: (1) evidence succession of another corporation or association to the Bank and the assumption by such a party of the obligations of the Bank under this Note in the event in the event of a merger, consolidation or sale of assets in accordance with the terms hereof; (2) add further covenants, restrictions or conditions for the protection of holders of this Note; (3) reduce or increase the principal amount hereof solely with respect to the portion of this Note relating to the Common Securities of the Trust; or (4) cure ambiguities or correct this Note in case of defects or inconsistencies in the provisions hereof or supplement this Note with other provisions, so long as any such cure, correction or supplement does not adversely affect the interest of the holder of this Note in any material respect. The Bank and the Property Trustee may, with the consent of the holders of not less than a majority in principal amount of the outstanding Preferred Securities, enter into written modifications to this Note; provided, that no such amendment may, without the consent of the all holders of all Preferred Securities, (1) reduce the amount of Preferred Securities the holders of which must consent to any amendment, supplement or waiver of this Note, (2) extend the final maturity of this Note, or reduce the rate or extend the time of payment of interest hereon, or reduce the principal amount hereof (except as provided in the previous sentence), (3) alter the method of calculation of the amount paid at final maturity hereof or (4) make the principal hereof or interest hereon payable in any coin or currency other than that provided in this Note. Any modifications or amendments to these Terms and Conditions as provided in the clauses above will be conclusive and binding on the holder of this Note, whether or not its has given consent. No provision of this Note shall alter or impair the obligation of the Bank, which is absolute and unconditional, to pay the principal of and interest on this Note at the places, at the respective times, at the rate and in the coin or currency herein prescribed.

Modifications and Amendments; Waiver. Modifications and amendments to these Terms and Conditions may be made without the consent of the holders of the Preferred Securitiesmade, to: (1) evidence succession of another corporation or association to the Bank and the assumption by such a party of the obligations of the Bank under this the Note in the event in the event of a merger, consolidation or sale of assets in accordance with the terms hereof; (2) add further covenants, restrictions or conditions for the protection of holders of this the Note; (3) reduce or increase the principal amount hereof solely with respect to the portion of this Note relating to the Common Securities of the Trust; or (43) cure ambiguities or correct this the Note in case of defects or inconsistencies in the provisions hereof thereof or supplement this the Note with other provisions, so long as any such cure, correction or supplement does not adversely affect the interest of the holder of this the Note in any material respect. The Bank and In no event may the Property Trustee may, with the consent of the holders of not less than a majority in principal amount of the outstanding Preferred Securities, enter into written modifications to this Note; provided, that no such amendment mayBank, without the consent of the all holders of all Preferred SecuritiesCompany, (1) reduce the amount of Preferred Securities the holders of which must consent to any amendment, supplement or waiver of this Note, (2) extend the final maturity of this the Note, or reduce the rate or extend the time of payment of interest hereonthereon, or reduce the principal amount hereof (except as provided in the previous sentence)thereof, (3) alter the method of calculation of the amount paid at final maturity hereof or (4) make the principal hereof thereof or interest hereon thereon payable in any coin or currency other than that provided in this the Note. Any modifications or amendments to these Terms and Conditions as provided in the clauses (1), (2) or (3) above will be conclusive and binding on the holder of this the Note, whether or not its has given consent. Notwithstanding anything set forth herein to the contrary, any of the acts which the Bank is required to do or is prohibited from doing, as set forth herein, may be omitted or done by the Bank, if there is obtained the prior written consent thereto of the holder of the Note. No provision of this Note shall alter or impair the obligation of the Bank, which is absolute and unconditional, to pay the principal of and interest on this Note at the places, at the respective times, at the rate and in the coin or currency herein prescribed.

Modifications and Amendments; Waiver. Modifications and amendments to these Terms and Conditions may be made without the consent of the holders of the Preferred Securities, to: (1) evidence succession of another corporation or association to the Bank and the assumption by such a party of the obligations of the Bank under this Note in the event in the event of a merger, consolidation or sale of assets in accordance with the terms hereof; (2) add further covenants, restrictions or conditions for the protection of holders of this Note; (3) reduce or increase the principal amount hereof solely with respect to the portion of this Note relating to the Common Securities of the TrustCompany; or (4) cure ambiguities or correct this Note in case of defects or inconsistencies in the provisions hereof or supplement this Note with other provisions, so long as any such cure, correction or supplement does not adversely affect the interest of the holder of this Note in any material respect. The Bank and the Property Trustee Company may, with the consent of the holders of not less than a majority in principal amount of the outstanding Preferred Securities, enter into written modifications to this Note; provided, that no such amendment may, without the consent of the all holders of all Preferred Securities, (1) reduce the amount of Preferred Securities the holders of which must consent to any amendment, supplement or waiver of this Note, (2) extend the final maturity of this Note, or reduce the rate or extend the time of payment of interest hereon, or reduce the principal amount hereof (except as provided in the previous sentence), (3) alter the method of calculation of the amount paid at final maturity hereof or (4) make the principal hereof or interest hereon payable in any coin or currency other than that provided in this Note. Any modifications or amendments to these Terms and Conditions as provided in the clauses above will be conclusive and binding on the holder of this Note, whether or not its has given consent. No provision of this Note shall alter or impair the obligation of the Bank, which is absolute and unconditional, to pay the principal of and interest on this Note at the places, at the respective times, at the rate and in the coin or currency herein prescribed.

Modifications and Amendments; Waiver. Modifications and amendments to these Terms and Conditions may be made without the consent of the holders of the Preferred Securities, to: (1) evidence succession of another corporation or association to the Bank and the assumption by such a party of the obligations of the Bank under this Note in the event in the event of a merger, consolidation or sale of assets in accordance with the terms hereof; (2) add further covenants, restrictions or conditions for the protection of holders of this Note; (3) reduce or increase the principal amount hereof solely with respect to the portion of this Note relating to the Common Securities of the Trust; or (4) cure ambiguities or correct this Note in case of defects or inconsistencies in the provisions hereof or supplement this Note with other provisions, so long as any such cure, correction or supplement does not adversely 7 7 affect the interest of the holder of this Note in any material respect. The Bank and the Property Trustee may, with the consent of the holders of not less than a majority in principal amount of the outstanding Preferred Securities, enter into written modifications to this Note; provided, that no such amendment may, without the consent of the all holders of all Preferred Securities, (1) reduce the amount of Preferred Securities the holders of which must consent to any amendment, supplement or waiver of this Note, (2) extend the final maturity of this Note, or reduce the rate or extend the time of payment of interest hereon, Note or reduce the principal amount hereof (except as provided in the previous sentence), (3) alter the method of calculation of the amount paid at final maturity hereof or (4) make the principal hereof or interest hereon payable in any coin or currency other than that provided in this Note. Any modifications or amendments to these Terms and Conditions as provided in the clauses above will be conclusive and binding on the holder of this Note, whether or not its has given consent. No provision of this Note shall alter or impair the obligation of the Bank, which is absolute and unconditional, to pay the principal of and interest on this Note at the places, at the respective times, at the rate times and in the coin or currency herein prescribed.