2.4.11.3 Amendments Requiring the Consent of Each Affected Debt Holder

2.4.11.3 Amendments Requiring the Consent of Each Affected Debt Holder

Amendments that change the essential terms of the debt require the consent of each affected debt holder. Examples of such amendments include:

• Change in the interest rate on a bond
  
  
• Extending the maturity of a bond
  
  
• Adding a right to redeem a bond that is not callable
  
  
• Fundamental changes to the security for a bond (e.g., releasing security in a way that turns secured debt into unsecured debt)