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<br />-41- <br />ARTICLE VII <br /> <br />MODIFICATION OR AMENDMENT OF THIS INDENTURE <br /> <br />Section 7.01. Amendment With And Without Consent of Owners. This Indenture and the <br />rights and obligations of the Successor Agency and of the Owners may be modified or amended <br />at any time by a Supplemental Indenture which shall become binding upon adoption and without <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 /> <br />(a) to add to the covenants and agreements of the Successor Agency in 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 Successor <br />Agency; or <br /> <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, or <br />in any other respect whatsoever as the Successor Agency may deem necessary or <br />desirable, provided under any circumstances that such modifications or amendments shall <br />not, in the reasonable determination of the Successor Agency, materially adversely affect <br />the interests of the Owners; or <br /> <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 interest <br />on any of the Bonds, in the opinion of Bond Counsel; or <br /> <br />(d) to amend the Recognized Obligation Debt Service Payment Schedule set <br />forth in Exhibit B to take into account the redemption of any Bond prior to its maturity; or <br /> <br />(e) to provide for the issuance of Parity Debt pursuant to a Supplemental <br />Indenture in accordance with Section 3.05. <br /> <br />Except as set forth in the preceding paragraph, this Indenture and the rights and <br />obligations of the Successor Agency and of the Owners may be modified or amended at any time <br />by a Supplemental Indenture which shall become binding with the consent of the Owners of a <br />majority in aggregate principal amount of the Bonds then Outstanding are filed with the Trustee. <br />No such modification or amendment shall (a) extend the maturity of or reduce the interest rate on <br />any Bond or otherwise alter or impair the obligation of the Successor Agency to pay the principal, <br />interest or redemption premium, (if any) at the time and place and at the rate and in the currency <br />provided therein of any Bond without the express written consent of the Owner of such Bond, or <br />(b) reduce the percentage of Bonds required for the written consent to any such amendment or <br />modification. In no event shall any Supplemental Indenture modify any of the rights or obligations <br />of the Trustee without its prior written consent. In addition, the Trustee shall be entitled to an <br />opinion of counsel concerning the Supplemental Indenture’s lack of any material adverse effect <br />on the Owners. <br /> <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 <br />obligations of the parties hereto or thereto and all Owners, as the case may be, shall thereafter <br />467