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-42- <br />ARTICLE VII <br />MODIFICATION OR AMENDMENT OF THIS INDENTURE <br />Section 7.01. Amendment With And Without Consent of Owners. This Indenture and the <br />rights and obligations of the Successor Agencyand of the Owners may be modified or amended <br />at any time by a Supplemental Indenture which shall become binding upon adoption andwithout <br />the consent of any Owners, to the extent permitted by law and only for any one or more of the <br />following purposes- <br />(a)to add to the covenants and agreements of the Successor Agencyin this <br />Indenture contained, other covenants and agreements thereafter to be observed, or to <br />limit or surrender any rights or powers herein reserved to or conferred upon the <br />Successor Agency; or <br />(b)to make such provisions for the purpose of curing any ambiguity, or of <br />curing, correcting or supplementing any defective provision contained in this Indenture, <br />or in any other respect whatsoever as the Successor Agencymay deem necessary or <br />desirable, provided under any circumstances that such modifications or amendments <br />shall not, in the reasonable determination of the Successor Agency, materially adversely <br />affect the interests of the Owners; or <br />(c)to amend any provision hereof relating to the requirements of or <br />compliance with the Code, to any extent whatsoever but only if and to the extent such <br />amendment will not adversely affect the exemption from federal income taxation of <br />interest on any of the Bonds, in the opinion of Bond Counsel; or <br />(d)to amend the Recognized Obligation Debt Service Payment Schedule set <br />forth in Exhibit B to take into account the redemption ofany Bond prior to its maturity; or <br />(e)to provide for the issuance of Parity Debt pursuant to a Supplemental <br />Indenture, as such issuance is authorized by Section 5.02. <br />Except as set forth in the preceding paragraph, this Indenture and the rights and <br />obligations of the Successor Agencyand of the Owners may be modified or amended at any <br />time by a Supplemental Indenture which shall become binding with the consent of the Owners <br />of a majority in aggregate principal amount of the Bonds then Outstanding are filed with the <br />Trustee. No such modification or amendment shall (a) extend the maturity of or reduce the <br />interest rate on any Bond or otherwise alter or impair the obligation of the Successor Agencyto <br />pay the principal, interest or redemption premium, (if any) at the time and place and at the rate <br />and in the currency provided therein of any Bond without the express written consent of the <br />Owner of such Bond, or (b) reduce the percentage of Bonds required for the written consent to <br />any such amendment or modification. In no event shall any SupplementalIndenture modify any <br />of the rights or obligations of the Trustee without its prior written consent. In addition, the <br />Trustee shall be entitled to an opinion of counsel concerning the Supplemental Indenture’s lack <br />of any material adverse effect on the Owners. <br />Section 7.02. Effect of Supplemental Indenture. From and after the time any <br />Supplemental Indenture becomes effective pursuant to this Article VII, this Indenture shall be <br />deemed to be modified and amended in accordance therewith, the respective rights, duties and