| Commentary

14.9 Power to modify

| Commentary

14.9 Power to modify

It is wise to include within the debenture1 a clause allowing debenture holders to modify any provisions of the debenture. It is normal to provide that changes may be made with the debenture holders’ consent, given by means of a resolution, adopting a procedure very similar to that applying to a special resolution of debenture holders agreeing a compromise or arrangement within the Companies Act 20062. In these circumstances, debenture holders accept their security subject to the chance that their strict rights may be modified in an appropriate case in line with the provisions of the

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