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<br /> ))PAAI <br /> ARTICLE XIV <br /> AMENDMENTS OF ORDINANCE; <br /> NOTICES TO HOLDERS; WAIVER <br /> Section 14.01. Amendment of Ordinance. <br /> The holders of Parity Bonds aggregating in principal amount <br /> 51% of the aggregate principal amount of then outstanding Parity <br /> Bonds shall have the right from time to time to approve Any <br /> amendment to this Ordinance which may be deemed necessary or <br /> desirable by the City, provided, howeve r, that without the consent <br /> of the holders of all of the Parity Bonds at the time outstanding, <br /> nothing herein contained shall permit or be construed to permit the <br /> amendment of the terms and conditions in this Ordinance or so as to: <br /> (1) Make any change in the maturity of the <br /> outstanding Parity Bonds; <br /> (2) Reduce the rate of interest borne by any of the <br /> outstanding Parity Bonds; <br /> (3) Reduce the amount of the principal payable on <br /> the outstanding Parity Bonds; .. <br /> (4) Modify the terms of payment of principal of or <br /> interest on the outstanding Parity Bonds, or impose any conditions <br /> with respect to such payment; <br /> (5) Affect the rights of the holders of less than <br /> all of the Parity Bonds then outstanding; <br /> (6) Change the minimum percentage of the principal <br /> amount of Parity Bonds necessary for consent to such amendment. <br /> (b) If at any time the City shall desire to amend the <br /> Ordinance under this Section, the City shall cause notice of the <br /> proposed amendment to be published in a financial newspsper or <br /> journal published in the City of New York, New York, once during <br /> each calendar week for at least two successive calendar weeks. Such <br /> notice shall briefly set forth the nature of the proposed amendment <br /> and shall state that a copy thereof is on" file at the principal <br /> office of the Paying Agent/Registrar for inspection by all Holders <br /> of Parity Bonds. Such publication is not required, however, if <br /> notice in writing is given to each Holder of Parity Bonds. <br /> (c) Whenever at any time not less than thirty days, and <br /> within one year, from the date of the first publication of said <br /> notice or other service of written notice the City shall receive an <br /> instrument or instruments executed by the Holders of at least 51% in <br /> aggregate principal amount of all Parity Bonds then outstanding, <br /> 4588f <br /> -36- <br />