Agenda - Council - 07/12/2022 - Laserfiche WebLink

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ARTICLE XI AMENDMENT OF SECURITY DOCUMENTS SECTION 11.1. Amendments to Security Documents Not Requiring Consent of Bondholders. Without the consent of or notice to the Bondholders, the Issuer, the Company, the Charter School, and the Trustee may amend, change or modify and consent to any amendment, change or modification of the Issuer Documents,the Company Documents,the School Documents and the Security Documents as may be required (a) by the provisions of the Agreement or this Indenture, (b) for the purpose of curing any ambiguity, inconsistency or defect or omission in the Loan Documents, (c) in connection with an amendment or to effect any purpose for which there could be an amendment of this Indenture pursuant to Section 10.1, (d) in connection with implementing the issuance of Additional Bonds, or(e)in connection with any other change therein which is not to the material prejudice of the Trustee or the Bondholders. Additionally,without the consent of the Bondholders, the Company and the Charter School shall have the right to amend the Lease by providing a statement of the specific rent due in any year; provided that no amendment shall reduce the rent in any year to an amount less than the Schedule of Minimum Base Rent (as defined in the Lease) for such year. The Issuer and the Trustee shall without the consent of the Bondholders, but with ten(10) days' prior written notice to the Bondholders, amend, change or modify or consent to any amendment, change or modification of the Security Documents as may be required (a) so as to more precisely identify the Project, the School Facilities, or the Mortgaged Property(as defined in the Mortgage) or to substitute or add additional improvements, equipment or furnishings to the School Facilities or additional rights or interests in property acquired in accordance with the provisions of the Security Documents; (b)to enter into an indenture or indentures supplemental hereto as provided in Section 10.2 of this Indenture; (c) to assign rights and obligations under the Security Documents; or (d) to effectuate the sale of unimproved real property as described in the Mortgage and allowed under Section 8.5 of the Loan Agreement in compliance with the requirements of Section 3.5 of the Tax Certificate. SECTION 11.2. Amendments to Security Documents Requiring Consent of Bondholders. Except for the amendments, changes or modifications as provided in Section 11.1 hereof, neither the Issuer nor the Trustee shall amend, change or modify or consent to any other amendment, change or modification of the Security Documents without mailing of notice to the Bondholders and the written approval or consent of the Majority Bondholder(s),provided that the consent of the Bondholders of not less than [2/31 [seventy-five percent (75%)] in aggregate principal amount of the Outstanding Bonds is required for any amendment, change or modification of the Security Documents that would permit the termination or cancellation of the Security Documents or a reduction in or postponement of the payments under the Security Documents or any change in the provisions relating to the payment thereunder. If at any time the Issuer and the Company shall request the consent of the Trustee to any such proposed amendment, change or modification of the Security Documents pursuant to this Section, the Trustee shall, upon being satisfactorily indemnified with respect to expenses, cause notice of such proposed amendment, change or modification to be given in the same manner as provided by Section 10.2 of this Indenture with respect to supplemental indentures. Such notice shall be prepared by the Issuer or the Company, shall briefly set forth the nature of such proposed amendment, change or 74 735810810