Common use of Amendment of Notes Clause in Contracts

Amendment of Notes. The Community College Districts and the Trustee will not amend or permit the amendment of the Notes without (a) (1) a determination that such amendment does not materially adversely affect the interests of the Owners of the Note Participations or (2) the written consents of the Owners of a majority in aggregate principal amount of the Note Participations then Outstanding, and (b) an Opinion of Counsel to the effect that such amendment will not cause interest on such Notes to be included in gross income for federal income tax purposes; provided that no such amendment shall reduce the rate of interest or amount of principal, extend the time of payment thereof with respect to any Note, or permit any lien or other encumbrance that is not subordinate to the interests of the Trustee, on behalf of the Owners.

Amendment of Notes. The Community College Districts Local Educational Agencies and the Trustee will not amend or permit the amendment of the Notes any Note without (a) (1) a determination that such amendment does not materially adversely affect the interests interest of the Owners of the Note Participations Participations, or (2) the written consents of the Owners of a majority in aggregate principal amount of the Note Participations then Outstanding, and (b) an Opinion of Counsel to the effect that such amendment will not cause interest on such the Notes to be included in gross income for federal income tax purposes; provided that no such amendment shall reduce the rate of interest or amount of principal, principal or extend the time of payment thereof with respect to any Note, or permit any lien or other encumbrance that is not subordinate to the interests of the Trustee, on behalf of the Owners.

Amendment of Notes. The Community College Districts Local Agencies and the Trustee will not amend or permit the amendment of the Notes without (a) (1) a determination that such amendment does not materially adversely affect the interests of the Owners of the Note Participations or (2) the written consents of the Owners of a majority in aggregate principal amount of the Note Participations then Outstanding, and (b) an Opinion of Counsel to the effect that such amendment will not cause interest on such Notes to be included in gross income for federal income tax purposes; provided that no such amendment shall reduce the rate of interest or amount of principal, extend the time of payment thereof with respect to any Note, or permit any lien or other encumbrance that is not subordinate to the interests of the Trustee, on behalf of the Owners.