Common use of Actions Binding on Future Securityholders Clause in Contracts

Actions Binding on Future Securityholders. At any time prior to (but not after) the evidencing to the Trustee, as provided in Section 8.01, of the taking of any action by the holders of a majority or specified percentage in aggregate principal amount of the Debt Securities of a particular series in connection with such action, any holder of a Debt Security of that series that is shown by the evidence to be included in the Debt Securities the holders of which have consented to such action may, by filing written notice with the Trustee, and upon proof of holding as provided in Section 8.02, revoke such action so far as concerns such Debt Security. Except as aforesaid, any such action taken by the holder of any Debt Security shall be conclusive and binding upon such holder and upon all future holders and owners of such Debt Security, and of any Debt Security issued in exchange therefor, on registration of transfer thereof or in place thereof, irrespective of whether or not any notation in regard thereto is made upon such Debt Security. Any action taken by the holders of a majority or specified percentage in aggregate principal amount of the Debt Securities of a particular series in connection with such action shall be conclusively binding upon the Company, the Trustee and the holders of all the Debt Securities of that series.

Appears in 9 contracts

Samples: Indenture (Stanley Works), Telephone and Data (Telephone & Data Systems Inc), Indenture (Exelon Corp)

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Actions Binding on Future Securityholders. At any time prior to (but not after) the evidencing to the Trustee, as provided in Section 8.0110.01, of the taking of any action by the holders Holders of a the majority or specified percentage in aggregate principal amount of the Debt Securities of a particular series Junior Subordinated Debentures specified in this Indenture in connection with such action, any holder of a Debt Security of that series that Holder who is shown by the evidence to be included in the Debt Securities the holders of which have consented to such action may, by filing written notice with the Trustee, and upon proof of holding as provided in Section 8.0210.02, revoke such action so far as concerns such Debt SecurityHolder's Junior Subordinated Debentures. Except as aforesaid, aforesaid any such action taken by the holder of any Debt Security Holder shall be conclusive and binding upon such holder Holder and upon all future holders Holders and owners of such Debt SecurityHolder's Junior Subordinated Debentures, and of any Debt Security Junior Subordinated Debentures issued in exchange therefor, on registration of transfer thereof or in place thereof, irrespective of whether or not any notation in regard thereto is made upon such Debt SecurityJunior Subordinated Debentures. Any action taken by the holders Holders of a the majority or specified percentage in aggregate principal amount of the Debt Securities of a particular series Junior Subordinated Debentures specified in this Indenture in connection with such action shall be conclusively binding upon the Company, the Trustee and the holders Holders of all the Debt Securities of that seriesJunior Subordinated Debentures.

Appears in 6 contracts

Samples: Subordinated Indenture (Flagstar Trust), Union Bankshares Capital Trust I, BVBC Capital Trust I

Actions Binding on Future Securityholders. At any time prior to (but not after) the evidencing to the Trustee, as provided in Section 8.0110.1, of the taking of any action by the holders Holders of a the majority or specified percentage in aggregate principal amount of the Debt Securities of a particular series Junior Subordinated Debentures specified in this Indenture in connection with such action, any holder of a Debt Security of that series that Holder who is shown by the evidence to be included in the Debt Securities the holders of which have consented to such action may, by filing written notice with the Trustee, and upon proof of holding as provided in Section 8.0210.2, revoke such action so far as concerns such Debt SecurityHolder's Junior Subordinated Debentures. Except as aforesaid, aforesaid any such action taken by the holder of any Debt Security Holder shall be conclusive and binding upon such holder Holder and upon all future holders Holders and owners of such Debt SecurityHolder's Junior Subordinated Debentures, and of any Debt Security Junior Subordinated Debentures issued in exchange therefor, on registration of transfer thereof or in place thereof, irrespective of whether or not any notation in regard thereto is made upon such Debt SecurityJunior Subordinated Debentures. Any action taken by the holders Holders of a the majority or specified percentage in aggregate principal amount of the Debt Securities of a particular series Junior Subordinated Debentures specified in this Indenture in connection with such action shall be conclusively binding upon the Company, the Trustee and the holders Holders of all the Debt Securities of that seriesJunior Subordinated Debentures.

Appears in 4 contracts

Samples: Community First Bankshares Inc, CFB Capital Iv, Community First Bankshares Inc

Actions Binding on Future Securityholders. At any time prior to (but not after) the evidencing to the Trustee, as provided in Section 8.018.1, of the taking of any action by the holders of a majority or specified percentage in aggregate principal amount of the Debt Securities of a particular series in connection with such action, any holder of a Debt Security of that series that is shown by the evidence to be included in the Debt Securities the holders of which have consented to such action may, by filing written notice with the Trustee, and upon proof of holding as provided in Section 8.028.2, revoke such action so far as concerns such Debt Security. Except as aforesaid, any such action taken by the holder of any Debt Security shall be conclusive and binding upon such holder and upon all future holders and owners of such Debt Security, and of any Debt Security issued in exchange therefor, on registration of transfer thereof or in place thereof, irrespective of whether or not any notation in regard thereto is made upon such Debt Security. Any action taken by the holders of a majority or specified percentage in aggregate principal amount of the Debt Securities of a particular series in connection with such action shall be conclusively binding upon the Company, the Trustee and the holders of all the Debt Securities of that series.

Appears in 4 contracts

Samples: Arvin Capital I, WPSR Capital Trust I, WPSR Capital Trust I

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Actions Binding on Future Securityholders. At any time prior to (but not after) the evidencing to the Trustee, as provided in Section 8.0110.01, of the taking of any action by the holders Holders of a majority or specified the percentage in aggregate principal amount of the Debt Securities of a particular series Subordinated Debentures specified in this Indenture in connection with such action, any holder of a Debt Security of that series that Holder who is shown by the evidence to be included in the Debt Securities the holders of which have consented to such action may, by filing written notice with the Trustee, and upon proof of holding as provided in Section 8.0210.02, revoke such action so far as concerns such Debt SecurityHolder's Subordinated Debentures. Except as aforesaid, aforesaid any such action taken by the holder of any Debt Security Holder shall be conclusive and binding upon such holder Holder and upon all future holders Holders and owners of such Debt SecurityHolder's Subordinated Debentures, and of any Debt Security Subordinated Debentures issued in exchange therefor, on registration of transfer thereof or in place thereof, irrespective of whether or not any notation in regard thereto is made upon such Debt SecuritySubordinated Debentures. Any action taken by the holders Holders of a majority or specified the percentage in aggregate principal amount of the Debt Securities of a particular series Subordinated Debentures specified in this Indenture in connection with such action shall be conclusively binding upon the Company, the Trustee and the holders Holders of all the Debt Securities of that seriesSubordinated Debentures.

Appears in 2 contracts

Samples: Bank of the Ozarks Inc, Ozark Capital Trust

Actions Binding on Future Securityholders. At any time prior to (but not after) the evidencing to the Trustee, as provided in Section 8.0110.1, of the taking of any action by the holders Holders of a the majority or specified percentage in aggregate principal amount of the Debt Securities of a particular series Junior Subordinated Debentures specified in this Indenture in connection with such action, any holder of a Debt Security of that series that Holder who is shown by the evidence to be included in the Debt Securities the holders of which have consented to such action may, by filing written notice with the Trustee, and upon proof of holding as provided in Section 8.0210.2, revoke such action so far as concerns such Debt SecurityXxxxxx's Junior Subordinated Debentures. Except as aforesaid, aforesaid any such action taken by the holder of any Debt Security Holder shall be conclusive and binding upon such holder Holder and upon all future holders Holders and owners of such Debt SecurityHolder's Junior Subordinated Debentures, and of any Debt Security Junior Subordinated Debentures issued in exchange therefor, on registration of transfer thereof or in place thereof, irrespective of whether or not any notation in regard thereto is made upon such Debt SecurityJunior Subordinated Debentures. Any action taken by the holders Holders of a the majority or specified percentage in aggregate principal amount of the Debt Securities of a particular series Junior Subordinated Debentures specified in this Indenture in connection with such action shall be conclusively binding upon the Company, the Trustee and the holders Holders of all the Debt Securities of that seriesJunior Subordinated Debentures.

Appears in 1 contract

Samples: United Community Bancshares Inc

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