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A Majority of Holders shall have the right, from time to time, to consent to and <br /> approve the execution of indenture or indentures supplemental to the Indenture:PROVIDED, <br /> HOWEVER,that nothing shall permit or be construed as permitting,without the consent of <br /> the Holders of all outstanding Bonds, (a) an extension of the maturity of any Bond issued <br /> under the Indenture,or(b)a reduction in the principal amount of any Bond or the redemption <br /> premium or the rate of interest thereon, or (c) the creation of a lien upon or a pledge of <br /> revenues ranking prior to or on a parity with the lien or pledge created by the Indenture and <br /> the Mortgage (except as provided in the Indenture), or (d) a preference or priority of any <br /> Bond or Bonds over any others, or(e)a reduction in the aggregate principal amount of the <br /> Bonds required to consent to supplemental indentures,amendments to the Loan Agreement <br /> or amendments to the Mortgage,or(f)a reduction in the aggregate principal amount of the <br /> Bonds required to waive an Event of Default: PROVIDED FURTHER, that nothing in the <br /> Indenture contained shall permit or be construed as permitting, without the consent of the <br /> holders or creditors of all outstanding Subordinated Debt,the elimination of any consent of <br /> a holder or creditor of Subordinated Debt to any modification to the Indenture, the Loan <br /> Agreement or the Subordinate Mortgage. <br /> Whenever there shall be delivered to the Trustee a resolution of Bondholders adopted <br /> at a Bondholders' meeting approved by, or an instrument or instruments purporting to be <br /> executed by Majority of Holders,which resolution or instrument or instruments shall refer <br /> to the proposed supplemental indenture and shall specifically consent to and approve the <br /> execution thereof, thereupon, the City and the Trustee may execute such supplemental <br /> indenture without liability or responsibility to any Holder of any Bond,whether or not such <br /> Holder shall have consented thereto. <br /> If a Majority of Holders at the time of the execution of such supplemental indenture <br /> shall have consented to and approved the execution thereof as provided in the Indenture,no <br /> Holder of any Bond shall have any right to object to the execution of such supplemental <br /> indenture,or to object to any of the terms and provisions contained therein or the operation <br /> thereof, or in any manner to question the propriety of the execution thereof, or to enjoin or <br /> restrain the Trustee or the City from executing the same or from taking any action pursuant <br /> to the provisions thereof. <br /> Anything in the Indenture to the contrary notwithstanding,a supplemental indenture <br /> under Article XI of the Indenture which adversely affects the rights of the Borrower under <br /> the Loan Agreement, the Mortgage, the Subordinate Mortgage or the Indenture, so long as <br /> the Loan Agreement, the Mortgage and the Subordinate Mortgage are in effect, shall not <br /> become effective unless and until the Borrower shall have consented to the execution and <br /> delivery of such supplemental indenture. <br /> Notwithstanding any other provisions of the Indenture, no Supplemental Indenture <br /> shall be executed until the Trustee has received an opinion of Bond Counsel to the effect that <br /> such execution will not cause interest on any Tax-Exempt Bonds to be included in gross <br /> income for federal income tax purposes <br />