HomeMy WebLinkAboutDenton Project First Supplement 2001FIRST SUPPLEMENT
TO
TRUSTINDENTURE
Dated as of July 15, 2003
BETWEEN
TEXAS STUDENT HOUSING CORPORATION — DENTON PROJECT
Emil
THE BANK OF NEW YORK, AS TRUSTEE
Dated as of July 1, 2001
Texas Student Housing Corporation — Denton Project
Student Housing Revenue Bonds
(University of North Texas Project)
Series 2001A and Subordinate Series 2001B
THIS FIRST SUPPLEMENT TO TRUST INDENTURE (the "First Supplemental
Indenture ") dated as of September 1, 2003 between Texas Student: Housing Corporation —
Denton Project, a nonprofit corporation duly incorporated under the laws of the State of Texas
(the "Issuer "), and The Baal{ of New York, a New Work banking corporation, as trustee (the
"Trustee ").
WHEREAS, the Issuer has previously issued its Student Housing Revenue Bonds
(University of North Texas Project) Series 2001A (the "Series 2001A Bonds ") and Subordinate
Series 2001B (the "Series 2001E Bonds "), in the aggregate principal amount of $34,355,000
(collectively, the "Series 2001 Bonds "), and used. the proceeds of the Series 2001 Bonds for the
purpose of financing the acquisition and equipping of a student housing facility located at 2700
Colorado Blvd., Denton, Texas, near the campus of the University of North Texas in Denton,
Texas (the "Project "), funding certain reserves and paying certain costs of issuance of the Series
2001 Bonds, pursuant to a Trust Indenture dated as of July 1, 2001 by and between the Issuer and
The Bank of New York, as Trustee (the "Indenture "); and
WHEREAS, Section 12.02 of the Indenture provides a means for the Issuer and the
Trustee to amend the Indenture with the consent and approval of the Requisite Number of
Bondholders (as defined in the Indenture) of the Series 2001 Bonds, the Issuer is hereby
requesting such an amendment and the Requisite Number of Bondholders have consented to and
approved such amendment; and
WHEREAS, all capitalized terms not defined herein shall have the meaning assigned to
them in the Indenture.
NOW, THEREFORE, for and in consideration of the promises and the mutual covenants
hereinafter contained, the parties hereto agree as follows:
Section 1. Subsection (iii) of Section 5.01 of the Indenture is amended to read as follows:
(iii) There shall be deposited to the Operating Fund the amount necessary to cause the
amount on deposit in the Operating Fund to equal the amount budgeted in the Annual Budget for
operating expenses of the Project for the next succeeding month (excluding any management fee
and Supplemental Program Administration Payments).
Section 2. Subsection (vi) of Section 5.01 of the Indenture is amended to read as follows:
(vi) There shall be transferred to the Repair and Replacement Fund, an amount equal
to the Repair and Replacement Payments required to made for such month; provided, however,
that if any required Repair and Replacement Fund Payments shall not have been made during the
prior 12 months (or replenished in accordance with the terms of this Section 5.01(vi)), there shall
also be transferred to the Repair and Replacement Fund an amount equal to the aggregate
amount of required Repair and Replacement Fund Payments not made during the prior 12
months;
Section 3. Indenture to Remain in Effect. Except as specifically amended hereby,
the Indenture shall continue in full force and effect, and from and after the date hereof, the
Indenture and this First Supplemental Indenture shall constitute one instrument.
Remainder of Page Intentionally Left Blank
IN WITNESS WHERE-OF, the Issuer and the Trustee have caused this first
Supplemental Indenture to be executed in their respective naules as of the date first above
written.
(SEAL)
Attest:
By:
01 6
(SEAL)
Attest:
TRA 1811166v1
TEXAS STUDENT HOUSING CORPORATION —
DENTON PROJECT
THE BANK OF NEW YORK,
as Trustee
Mal
Authorized Officer