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Bill No. 20-22 Amending Bond Ordinance_City of South Bend, Indiana Variable Rate Economic Development Revenue Bonds, Series 2007 (PEI_Genesis Project)
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Bill No. 20-22 Amending Bond Ordinance_City of South Bend, Indiana Variable Rate Economic Development Revenue Bonds, Series 2007 (PEI_Genesis Project)
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5/5/2022 3:20:12 PM
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5/4/2022 5:05:05 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
5/9/2022
Bill Number
20-22
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<br />94 <br /> <br />period when a Confirming Letter of Credit is in effect, and the Holders of all of the then <br />outstanding Bonds affected by such amendment, change or modification; or <br />(b) any other amendment, change or modification of the Agreement, a Note, <br />the Letter of Credit or the Confirming Letter of Credit, if any, without the giving of notice <br />as provided in this Section of the proposed amendment, change or modification and receipt <br />of the written consent thereto of the Bank, and the written consent of the Confirming Bank <br />during any period when a Confirming Letter of Credit is in effect, and the Holders of at <br />least a majority in aggregate principal amount of Bonds then outstanding affected by such <br />amendment, change or modification. <br />The consent of such Holders shall be obtained as provided in Section 8.03 hereof with <br />respect to Supplemental Indentures. <br />If the Issuer and the Borrower shall request at any time the consent of the Trustee to any <br />proposed amendment, change or modification of the Agreement, a Note, the Letter of Credit or the <br />Confirming Letter of Credit, if any, contemplated in subparagraph (a) or (b), upon receipt of the <br />written consent of the Bank and the written consent of the Confirming Bank during any perio d <br />when a Confirming Letter of Credit is in effect, thereto and upon being indemnified satisfactorily <br />by the Borrower with respect to expenses, the Trustee shall cause notice of the proposed <br />amendment, change or modification to be provided in the manner which is required by Section <br />8.03 hereof with respect to notice of Supplemental Indentures. This notice shall set forth briefly <br />the nature of the proposed amendment, change or modification and shall state that copies of the <br />instrument or document embodying it are on file at the principal corporate trust office of the <br />Trustee for inspection by all Holders. <br />END OF ARTICLE XI <br /> <br /> <br />ARTICLE XII <br />MEETINGS OF HOLDERS <br />Section 12.01. Purposes of Meetings.A meeting of the Holders of Bonds may be called at <br />any time and from time to time pursuant to the provisions of this Article XII, to the extent relevant <br />to the Holders of all of the Bonds or of Bonds of that series, as the case may be, to take any action <br />(a) authorized to be taken by or on behalf of the Holders of any specified aggregate principal <br />amount of the Bonds or of that series, (b) under any provision of this Indenture or (c) authorized <br />or permitted by law. <br /> <br />Section 12.02. Call of Meetings.The Trustee may call at any time a meeting of Holders <br />pursuant to Section 12.01 hereof to be held at any reasonable time and place the Trustee shall <br />determine. Notice of such meeting, setting forth the time, place and generally the subject thereof, <br />shall be mailed by first-class mail, postage prepaid, not fewer than fifteen (15) nor more than ninety <br />(90) days prior to the date of the meeting to the Holders at their addresses as they appear on the <br />Register on the fifteenth day preceding such mailing, which fifteenth day preceding the mailing <br />shall be the record date for the meeting <br />.
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