Common use of Modification of the Trust Deed Clause in Contracts

Modification of the Trust Deed. 21.1 The Trustee and the Bank may by mutual agreement agree to modify These Presents, provided such modifications are of a routine nature. Provided however that any modification to These Presents which are detrimental to the Debenture Holders shall only be made with the consent of the Debenture Holders of at least three fourth (3/4) of the face value of the Debentures for the time being outstanding. 21.2 Upon a modification being duly made, the Bank shall within seven (7) days of the modification being made inform the Debenture Holders of such modification.

Modification of the Trust Deed. 21.1 The Trustee and the Bank Company may by mutual agreement agree to modify These Presents, provided such modifications are of a routine nature. Provided however that any modification to These Presents which are detrimental to the Debenture Holders shall only be made with the consent of the Debenture Holders of at least three fourth (3/4) 3/4ths of the face value of the Debentures for the time being outstanding. 21.2 Upon a modification being duly made, the Bank Company shall within seven (7) days of the modification being made inform the Debenture Holders of such modification.