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04-14-2021 Council Packet
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04-14-2021 Council Packet
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13068670v2 <br /> <br /> <br />57 <br /> <br />ARTICLE XII <br /> <br />AMENDMENTS TO THE LOAN AGREEMENT, <br />THE MORTGAGE AND THE GUARANTY <br />Section 12.01 Amendments to the Loan Agreement, the Mortgage, and the Guaranty Not <br />Requiring Consent of Bondholders. The Issuer, the Corporation and the Trustee shall without the <br />consent of or notice to the Bondholders consent to any amendment, change or modification of the <br />Loan Agreement, the Mortgage or the Guaranty as may be required (i) by the provisions of the <br />Loan Agreement, the Mortgage, the Guaranty or this Indenture, (ii) for the purpose of curing any <br />ambiguity or formal defect or omission, or (iii) in connection with any other change therein which <br />is not to the prejudice the Holders of the Bonds, or in the judgment of the Trustee, is not to the <br />prejudice of the Trustee. <br />Section 12.02 Amendments to the Loan Agreement, the Mortgage, and the Guaranty <br />Requiring Consent of Bondholders. Except for the amendments, changes or modifications as <br />provided in Section 12.01 hereof, neither the Issuer nor the Trustee shall consent to any other <br />amendment, change or modification of the Loan Agreement, the Mortgage, or the Guaranty <br />without the written approval or consent of the Holders of not less than a majority in aggregate <br />principal amount of the Bonds at the time outstanding given and procured as in this Section <br />provided; provided, however, that no such amendment, change or modification shall ever affect <br />the unconditional obligation of the Corporation to make Loan Repayments as they become due <br />and payable. If the Holders of not less than a majority in aggregate principal amount of the Bonds <br />outstanding hereunder at the time of the execution of any such amendment, change or modification <br />shall have consented to and approved the execution thereof as herein provided, no Holder of any <br />Bond shall have any right to object to any of the terms and provisions contained therein, or in the <br />operation thereof, or in any manner to question the propriety of the execution thereof, or to enjoin <br />or restrain the Trustee, the Issuer or the Corporation from executing the same or from taking any <br />action pursuant to the provisions thereof. <br />Section 12.03 No Amendment May Reduce Loan Repayments. Under no circumstances <br />shall any amendment to the Loan Agreement, the Guaranty, or the Mortgage reduce the Loan <br />Repayments without the consent of the Holders of all the Bonds outstanding. <br />Section 12.04 Rights of Issuer. Neither the Issuer nor the Trustee has any duty or <br />obligation to consent to any proposed amendment to the Loan Agreement, the Mortgage, or the <br />Guaranty and, at the expense of the Corporation, upon the Trustee shall be provided with an <br />opinion of such counsel as the Issuer or the Trustee may select in connection with any matter <br />relating to a proposed amendment. <br /> <br />[The balance of this page is intentionally left blank.] <br />
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