Common use of Amendments Permitted Clause in Contracts

Amendments Permitted. This Agreement and the rights and obligations of the District and of the Owners of the Bonds and Additional Bonds may be modified or amended at any time by a Supplemental Agreement pursuant to the affirmative vote, at a meeting of Owners, or with the written consent without a meeting, of the Owners of at least sixty percent (60%) in aggregate principal amount of the Bonds and Additional Bonds then Outstanding, exclusive of (a) to add to the covenants and agreements of the District in this Agreement contained, other covenants and agreements thereafter to be observed, or to limit or surrender any right or power herein reserved to or conferred upon the District; (b) to make modifications not adversely affecting any Outstanding Bonds and Additional Bonds of the District in any material respect; (c) to make such provisions for the purpose of curing any ambiguity, inconsistency or omission of curing, correcting or supplementing any defective provision contained in this Agreement, or in regard to questions arising under this Agreement, as the District and the Fiscal Agent may deem necessary or desirable and not inconsistent with this Agreement, and which shall not adversely affect the rights of the Owners of the Bonds and Additional Bonds in any material respect; (d) to make such additions, deletions or modifications as may be necessary or desirable to assure the exclusion from gross income for federal income tax purposes of interest on the Authority Bonds, as applicable; or (e) to provide for the issuance of Additional Bonds in accordance with the provisions of this Agreement.

Amendments Permitted. This Agreement and the rights and obligations of the District County and of the Owners of the Bonds and Additional Bonds may be modified or amended at any time by a Supplemental Agreement pursuant to the affirmative vote, vote at a meeting of Owners, or with the written consent without a meeting, of the Owners of at least sixty percent (60%) in aggregate principal amount of the Bonds and Additional Bonds then Outstanding, exclusive of Bonds disqualified as provided in Section 8.04. No such modification or amendment shall (i) extend the maturity of any Bond or reduce the interest rate thereon, or otherwise alter or impair the obligation of the County to pay the principal of, and the interest and any premium on, any Bond, without the express consent of the Owner of such Bond, or (ii) permit the creation by the County of any pledge or lien upon the Special Taxes superior to or on a parity with the pledge and lien created for the benefit of the Bonds (except as otherwise permitted by the Act, the laws of the State of California or this Agreement), or reduce the percentage of Bonds required for the amendment hereof. Any such amendment may not modify any of the rights or obligations of the Fiscal Agent without its written consent. (aA) to add to the covenants and agreements of the District County in this Agreement contained, other covenants and agreements thereafter to be observed, or to limit or surrender any right or power herein reserved to or conferred upon the DistrictCounty; (bB) to make modifications not adversely affecting any Outstanding Bonds and Additional outstanding series of Bonds of the District County in any material respect; (cC) to make such provisions for the purpose of curing any ambiguity, inconsistency or omission of curing, correcting or supplementing any defective provision contained in this Agreement, or in regard to questions arising under this Agreement, as the District and the Fiscal Agent County may deem necessary or desirable and not inconsistent with this Agreement, and which shall not adversely affect the rights of the Owners of the Bonds and Additional Bonds in any material respectBonds; (dD) to make such additions, deletions or modifications as may be necessary or desirable to assure the exclusion from gross income income, for purposes of federal income tax purposes taxation, of interest on the Authority 2013 Bonds, as applicable; orand (eE) to provide for in connection with the issuance of Additional Parity Bonds under and pursuant to Section 2.14. The Fiscal Agent may in accordance its discretion, but shall not be obligated to, enter into any such Supplemental Agreement authorized by this Section which materially adversely affects the Fiscal Agent’s own rights, duties or immunities under this Fiscal Agent Agreement or otherwise with respect to the provisions of this AgreementBonds or any agreements related thereto.

Amendments Permitted. This Agreement and the rights and obligations of the District Town and of the Owners of the Bonds and Additional Reassessment Bonds may be modified or amended at any time by a Supplemental Agreement pursuant to the affirmative vote, vote at a meeting of Owners, or with the written consent without a meeting, of the Owners of at least sixty percent (60%) in aggregate principal amount of the Bonds and Additional Reassessment Bonds then Outstanding, exclusive of Reassessment Bonds disqualified as provided in Section 8.04. No such modification or amendment, except as provided in Section 8.03, shall (i) extend the maturity of any Reassessment Bond or reduce the interest rate thereon, or otherwise alter or impair the obligation of the Town to pay the principal of, and the interest and any premium on, any Bond, without the express consent of the Owner of such Bond, or (ii) permit the creation by the Town of any pledge or lien upon the Reassessments superior to or on a parity with the pledge and lien created for the benefit of the Reassessment Bonds (except as otherwise permitted by the Act, the Resolution of Issuance, the laws of the United States of America or and this Agreement), or reduce the percentage of Reassessment Bonds required for the amendment hereof. No such amendment may modify any of the rights or increase any of the obligations of the Fiscal Agent (other than pursuant to Section 8.01(D))without its written consent. This Agreement and the rights and obligations of the Town and of the Owners may also be modified or amended at any time by a Supplemental Agreement, without the consent of any Owners, only to the extent permitted by law and only for any one or more of the following purposes: (a) to add to the covenants and agreements of the District Town in this Agreement contained, other covenants and agreements thereafter to be observed, or to limit or surrender any right or power herein reserved to or conferred upon the DistrictTown; (b) to make modifications not adversely affecting any Outstanding Bonds and Additional outstanding series of Reassessment Bonds of the District Town in any material respect; (c) to make such provisions for the purpose of curing any ambiguity, inconsistency or omission of curing, correcting or supplementing any defective provision contained in this Agreement, or in regard to questions arising under this Agreement, as the District and the Fiscal Agent Town may deem necessary or desirable and not inconsistent with this Agreement, and which shall not adversely affect the rights of the Owners of the Bonds and Additional Bonds in any material respect;Reassessment Bonds; or (d) to make such additions, deletions or modifications as may be necessary or desirable to assure the exclusion exemption from gross income for federal income tax purposes taxation of interest on the Authority Bonds, as applicable; or (e) to provide for the issuance of Additional Bonds in accordance with the provisions of this Agreement.