2.4.11 Amendments

2.4.11 Amendments

Amendment provisions establish the prerequisites for amendments to bond documents and related debt security documents. Amendments fall into three broad categories:

1. Amendments not requiring the consent of debt holders
   
   
2. Amendments requiring the consent of the holders of a percentage of the aggregate principal amount of the debt
   
   
3. Amendments requiring the consent of each affected debt holder

If the debt is credit enhanced, most amendments also require the consent of the credit enhancement provider. Bond documents also often require an opinion of bond counsel to the effect that the proposed amendments are permitted by the bond documents and will not adversely affect the tax exemption of interest on the debt.