Common use of Binding Nature of Amendments, Notices, Notations, etc Clause in Contracts

Binding Nature of Amendments, Notices, Notations, etc. (a) It shall not be necessary for the vote or consent of the Bondholders to approve the particular form of any proposed modification, amendment, supplement, request, demand, authorization, direction, notice, consent, waiver or other action, but it shall be sufficient if such vote or consent shall approve the substance thereof. (b) Any modifications, amendments or waivers effected pursuant to this Article 11 and Paragraph 6 of the Terms shall be conclusive and binding upon all Bondholders, whether or not they have given such consent or were present at any meeting, and on all future Bondholders, whether or not notation of such modifications, amendments or waivers is made upon the Bonds.