Common use of Amendments without the Consent of Unit Holders Clause in Contracts

Amendments without the Consent of Unit Holders. This Indenture may be amended from time to time by the parties hereto or their respective successors, without the consent of any of the Unit Holders (a) to cure any ambiguity or to correct or supplement any provisions contained herein which may be defective or inconsistent with any other provisions contained herein; (b) to change any provision hereof as may be required by the Securities and Exchange Commission or any successor governmental agency exercising similar authority; or (c) to make such other provision in regard to matters or questions arising hereunder as shall not adversely affect the interest of the Unit Holders; provided, that the Indenture may also be amended from time to time by the parties hereto (or the performance of any of the provisions of this Indenture may be waived) with the consent of Unit Holders evidencing 51% of the Units at the time outstanding under the Indenture for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of modifying in any manner the rights of the Unit Holders; provided, further, however, that this Indenture (including any Reference Trust Agreement) may not be amended (nor may any provision thereof be waived) so as to (1) increase the number of Units issuable in respect of the Trust above the aggregate number specified in Part II of the Reference Trust Agreement or such lesser amount as may be outstanding at any time during the term of this Indenture, except as the result of the deposit of Additional Securities, as herein provided, or as otherwise provided herein, or reduce the relative interest in the Trust of any Unit Holder without his consent, (2) permit the deposit or acquisition hereunder of securities or other property either in addition to or in substitution for any of the Securities except in the manner permitted by the Trust Indenture as in effect on the date of the first deposit of Securities under a particular Indenture or permit the Trustee to engage in business or investment activities not specifically authorized in this Indenture as originally executed or (3) adversely affect the characterization of the Trust as a grantor trust for federal income tax purposes.

Appears in 4 contracts

Samples: Distribution Agency Agreement (National Equity Trust Otc Growth Trust Series 5), Trust Indenture and Agreement (National Equity Trust Low Five Portfolio Series 31), Indenture and Agreement (National Equity Tr Short Term Low 5 Cover Write Opt Tr Ser 1)

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