Common use of Supplemental Indenture With Consent of a Majority of Bondholders Clause in Contracts

Supplemental Indenture With Consent of a Majority of Bondholders. (a) Subject to the terms and provisions contained in this section, and not otherwise, and the registered owners of not less than a majority in aggregate principal amount of the Bonds then outstanding shall have the right from time to time, anything contained in this Indenture to the contrary notwithstanding, to consent to and approve the execution by the Authority, the Registrar, the Paying Agent and the Trustee of such indenture or indentures supplemental hereto as shall be deemed necessary or desirable by the Authority for the purpose of modifying, altering, amending, adding to or rescinding, in any particular, any of the terms or provisions contained in this Indenture or in any supplemental indenture; provided, however, that nothing herein contained shall permit or be construed as permitting: (1) an extension of the maturity of the principal or interest on any Bond issued hereunder; or (2) a reduction in the principal amount of any Bond or the rate of interest thereon; or (3) the creation of a lien upon the Trust Estate ranking prior to or on a parity with the lien created by this Indenture; or (4) a preference or priority of any Bond or Bonds over any other Bond or Bonds; or (5) a reduction in the aggregate principal amount of the Bonds required for consent to such supplemental indenture. Nothing herein contained, however, shall be construed as making necessary the approval by the registered owners of the execution of any supplemental indenture or indentures as authorized in Section 11.01 hereof. (b) If at any time the Authority requests the Trustee, the Registrar and the Paying Agent to enter into any supplemental indenture for any of the purposes of this Section, the Trustee, the Registrar and the Paying Agent shall, at the expense of the Authority, give notice by mail, postage prepaid, to all registered owners of Bonds. Such notice shall briefly set forth the nature of the proposed supplemental indenture and shall state that a copy thereof is on file at the office of the Trustee for inspection by all registered owners of any Bonds. The Trustee, the Registrar and the Paying Agent shall not, however, be subject to any liability to any registered owner of any Bonds by reason of its failure to mail the notice required by this Section 11.02(b), and any such failure shall not affect the validity of such supplemental indenture when consented to and approved as provided in this Section 11.02. (c) Whenever, at any time within one (1) year after mailing of such notice, the Authority delivers to the Trustee an instrument or instruments purporting to be executed by the registered owners of not less than a majority in aggregate principal amount of the Bonds then outstanding, which instrument or instruments refers to the proposed supplemental indenture described in such notice and specifically consents to and approves the execution thereof in substantially the form of the copy thereof referred to in such notice as on file with the Trustee, thereupon, but not otherwise, the Trustee, the Registrar and the Paying Agent may execute such supplemental indenture in substantially such form, without liability or responsibility to any registered owner of any Bond, whether or not such registered owner has consented thereto. (d) If the registered owners of not less than a majority in aggregate principal amount of the Bonds outstanding at the time of the execution of such supplemental indenture have consented to and approved the execution thereof as herein provided, no registered owner of any Bond shall have any right to object to the execution of such supplemental indenture or to object to any of the terms and provisions contained therein or the operation thereof, or in any manner to question the propriety of the execution thereof, or to enjoin or restrain the Trustee, the Registrar and the Paying Agent or the Authority from executing the same, or from taking any action pursuant to the provisions thereof. (e) Upon the execution of any supplemental indenture pursuant to the provisions of this Section 11.02, the Indenture shall be, and shall be deemed, modified and amended in accordance therewith, and the respective rights, duties and obligations under this Indenture of the Authority, the Trustee, the Registrar, the Paying Agent and all registered owners of Bonds then outstanding shall thereafter be determined, exercised and enforced hereunder, subject in all respects to such modifications and amendments.

Supplemental Indenture With Consent of a Majority of Bondholders. (a) Subject to the terms and provisions contained in this section, and not otherwise, and the registered owners of not less than a majority in aggregate principal amount of the Bonds then outstanding shall have the right from time to time, anything contained in this Indenture to the contrary notwithstanding, to consent to and approve the execution by the Authority, the Registrar, the Paying Agent and the Trustee of such indenture or indentures supplemental hereto as shall be deemed necessary or desirable by the Authority for the purpose of modifying, altering, amending, adding to or rescinding, in any particular, any of the terms or provisions contained in this Indenture or in any supplemental indenture; provided, however, that nothing herein contained shall permit or be construed as permitting: (1) an extension of the maturity of the principal or interest on any Bond issued hereunder; or (2) a reduction in the principal amount of any Bond or the rate of interest thereon; or (3) the creation of a lien upon the Trust Estate ranking prior to or on a parity with the lien created by this Indenture; or (4) a preference or priority of any Bond or Bonds over any other Bond or Bonds; or (5) a reduction in the aggregate principal amount of the Bonds required for consent to such supplemental indenture. Nothing herein contained, however, shall be construed as making necessary the approval by the registered owners of the execution of any supplemental indenture or indentures as authorized in Section 11.01 hereof. (b) If at any time the Authority requests the Trustee, the Registrar and the Paying Agent to enter into any supplemental indenture for any of the purposes of this Section, the Trustee, the Registrar and the Paying Agent shall, at the expense of the Authority, give notice by mail, postage prepaid, to all registered owners of Bonds. Such notice shall briefly set forth the nature of the proposed supplemental indenture and shall state that a copy thereof is on file at the office of the Trustee for inspection by all registered owners of any Bonds. The Trustee, the Registrar and the Paying Agent shall not, however, be subject to any liability to any registered owner of any Bonds by reason of its failure to mail the notice required by this Section 11.02(b), and any such failure shall not affect the validity of such supplemental indenture when consented to and approved as provided in this Section 11.02. (c) Whenever, at any time within one (1) year after mailing of such notice, the Authority delivers to the Trustee an instrument or instruments purporting to be executed by the registered owners of not less than a majority in aggregate principal amount of the Bonds then outstanding, which instrument or instruments refers to the proposed supplemental indenture described in such notice and specifically consents to and approves the execution thereof in substantially the form of the copy thereof referred to in such notice as on file with the Trustee, thereupon, but not otherwise, the Trustee, the Registrar and the Paying Agent may execute such supplemental indenture in substantially such form, without liability or responsibility to any registered owner of any Bond, whether or not such registered owner has consented thereto. (d) If the registered owners of not less than a majority in aggregate principal amount of the Bonds outstanding at the time of the execution of such supplemental indenture have consented to and approved the execution thereof as herein provided, no registered owner of any Bond shall have any right to object to the execution of such supplemental indenture or to object to any of the terms and provisions contained therein or the operation thereof, or in any manner to question the propriety of the execution thereof, or to enjoin or restrain the Trustee, the Registrar and the Paying Agent or the Authority from executing the same, or from taking any action pursuant to the provisions thereof. (e) Upon the execution of any supplemental indenture pursuant to the provisions of this Section 11.02, the Indenture shall be, and shall be deemed, modified and amended in accordance therewith, and the respective rights, duties and obligations under this Indenture of the Authority, the Trustee, the Registrar, the Paying Agent and all registered owners of Bonds then outstanding shall thereafter be determined, exercised and enforced hereunder, subject in all respects to such modifications and amendments.

Supplemental Indenture With Consent of a Majority of Bondholders. (a) Subject to the terms and provisions contained in this section, and not otherwise, and upon receipt of the written consent of registered owners of not less than a majority in aggregate principal amount of the 2023 Bonds then outstanding shall have the right from time to time, anything contained in this Indenture to the contrary notwithstanding, to consent to and approve the execution by the Authority, the Registrar, the Paying Agent and the Trustee of such indenture or indentures supplemental hereto as shall be deemed necessary or desirable by the Authority for the purpose of modifying, altering, amending, adding to or rescinding, in any particular, any of the terms or provisions contained in this Indenture or in any supplemental indenture; provided, however, that nothing herein contained shall permit or be construed as permitting: (1) an extension of the maturity of the principal or interest on any 2023 Bond issued hereunder; or (2) a reduction in the principal amount of any 2023 Bond or the rate of interest thereon; or (3) the creation of a lien upon the Trust Estate ranking prior to or on a parity with the lien created by this Indenture; or (4) a preference or priority of any 2023 Bond or 2023 Bonds over any other 2023 Bond or 2023 Bonds; or (5) a reduction in the aggregate principal amount of the 2023 Bonds required for consent to such supplemental indenture. Nothing herein contained, however, shall be construed as making necessary the approval by the registered owners of the execution of any supplemental indenture or indentures as authorized in Section 11.01 hereof. (b) If at any time the Authority requests the Trustee, the Registrar and the Paying Agent to enter into any supplemental indenture for any of the purposes of this Section, the Trustee, the Registrar and the Paying Agent shall, at the expense of the Authority, give notice by mail, postage prepaid, to all registered owners of 2023 Bonds. Such notice shall briefly set forth the nature of the proposed supplemental indenture and shall state that a copy thereof is on file at the office of the Trustee for inspection by all registered owners of any 2023 Bonds. The Trustee, the Registrar and the Paying Agent shall not, however, be subject to any liability to any registered owner of any 2023 Bonds by reason of its failure to mail the notice required by this Section 11.02(b), and any such failure shall not affect the validity of such supplemental indenture when consented to and approved as provided in this Section 11.02. (c) Whenever, at any time within one (1) year after mailing of such notice, the Authority delivers to the Trustee an instrument or instruments purporting to be executed by the registered owners of not less than a majority in aggregate principal amount of the 2023 Bonds then outstanding, which instrument or instruments refers to the proposed supplemental indenture described in such notice and specifically consents to and approves the execution thereof in substantially the form of the copy thereof referred to in such notice as on file with the Trustee, thereupon, but not otherwise, the Trustee, the Registrar and the Paying Agent may execute such supplemental indenture in substantially such form, without liability or responsibility to any registered owner of any 2023 Bond, whether or not such registered owner has consented thereto. (d) If the registered owners of not less than a majority in aggregate principal amount of the 2023 Bonds outstanding at the time of the execution of such supplemental indenture have consented to and approved the execution thereof as herein provided, no registered owner of any 2023 Bond shall have any right to object to the execution of such supplemental indenture or to object to any of the terms and provisions contained therein or the operation thereof, or in any manner to question the propriety of the execution thereof, or to enjoin or restrain the Trustee, the Registrar and the Paying Agent or the Authority from executing the same, or from taking any action pursuant to the provisions thereof. (e) Upon the execution of any supplemental indenture pursuant to the provisions of this Section 11.02, the Indenture shall be, and shall be deemed, modified and amended in accordance therewith, and the respective rights, duties and obligations under this Indenture of the Authority, the Trustee, the Registrar, the Paying Agent and all registered owners of 2023 Bonds then outstanding shall thereafter be determined, exercised and enforced hereunder, subject in all respects to such modifications and amendments.

Supplemental Indenture With Consent of a Majority of Bondholders. ‌ (a) Subject to the terms and provisions contained in this section, and not otherwise, and the registered owners of not less than a majority in aggregate principal amount of the Bonds then outstanding shall have the right from time to time, anything contained in this Indenture to the contrary notwithstanding, to consent to and approve the execution by the Authority, the Registrar, the Paying Agent and the Trustee of such indenture or indentures supplemental hereto as shall be deemed necessary or desirable by the Authority for the purpose of modifying, altering, amending, adding to or rescinding, in any particular, any of the terms or provisions contained in this Indenture or in any supplemental indenture; provided, however, that nothing herein contained shall permit or be construed as permitting: (1) an extension of the maturity of the principal or interest on any Bond issued hereunder; or (2) a reduction in the principal amount of any Bond or the rate of interest thereon; or (3) the creation of a lien upon the Trust Estate ranking prior to or on a parity with the lien created by this Indenture; or (4) a preference or priority of any Bond or Bonds over any other Bond or Bonds; or (5) a reduction in the aggregate principal amount of the Bonds required for consent to such supplemental indenture. Nothing herein contained, however, shall be construed as making necessary the approval by the registered owners of the execution of any supplemental indenture or indentures as authorized in Section 11.01 hereof. (b) If at any time the Authority requests the Trustee, the Registrar and the Paying Agent to enter into any supplemental indenture for any of the purposes of this Section, the Trustee, the Registrar and the Paying Agent shall, at the expense of the Authority, give notice by mail, postage prepaid, to all registered owners of Bonds. Such notice shall briefly set forth the nature of the proposed supplemental indenture and shall state that a copy thereof is on file at the office of the Trustee for inspection by all registered owners of any Bonds. The Trustee, the Registrar and the Paying Agent shall not, however, be subject to any liability to any registered owner of any Bonds by reason of its failure to mail the notice required by this Section 11.02(b), and any such failure shall not affect the validity of such supplemental indenture when consented to and approved as provided in this Section 11.02. (c) Whenever, at any time within one (1) year after mailing of such notice, the Authority delivers to the Trustee an instrument or instruments purporting to be executed by the registered owners of not less than a majority in aggregate principal amount of the Bonds then outstanding, which instrument or instruments refers to the proposed supplemental indenture described in such notice and specifically consents to and approves the execution thereof in substantially the form of the copy thereof referred to in such notice as on file with the Trustee, thereupon, but not otherwise, the Trustee, the Registrar and the Paying Agent may execute such supplemental indenture in substantially such form, without liability or responsibility to any registered owner of any Bond, whether or not such registered owner has consented thereto. (d) If the registered owners of not less than a majority in aggregate principal amount of the Bonds outstanding at the time of the execution of such supplemental indenture have consented to and approved the execution thereof as herein provided, no registered owner of any Bond shall have any right to object to the execution of such supplemental indenture or to object to any of the terms and provisions contained therein or the operation thereof, or in any manner to question the propriety of the execution thereof, or to enjoin or restrain the Trustee, the Registrar and the Paying Agent or the Authority from executing the same, or from taking any action pursuant to the provisions thereof. (e) Upon the execution of any supplemental indenture pursuant to the provisions of this Section 11.02, the Indenture shall be, and shall be deemed, modified and amended in accordance therewith, and the respective rights, duties and obligations under this Indenture of the Authority, the Trustee, the Registrar, the Paying Agent and all registered owners of Bonds then outstanding shall thereafter be determined, exercised and enforced hereunder, subject in all respects to such modifications and amendments.