Adjusted Voting Rights Clause Samples
Adjusted Voting Rights notwithstanding the foregoing, if “Adjusted Voting Rights” is specified as applicable, on any matter in respect of which the Issuer, under the terms of the relevant Initial Assets is (1) entitled to vote or otherwise grant any consent, exercise any discretion or take any action, including acting with respect to the Secured Property, and (2) receives notification of such rights or powers and appropriate voting and/or other documentation, the Issuer shall use its reasonable endeavours to notify the Transaction Counterparties and the Directing Party of such fact and request the Directing Party to provide instructions as to the relevant matter. Where:
Adjusted Voting Rights notwithstanding the foregoing, if “Adjusted Voting Rights” is specified as applicable, on any matter in respect of which the Issuer, under the terms of the relevant Initial Assets is (1) entitled to vote or otherwise grant any consent, exercise any discretion or take any action, including acting with respect to the Secured Property, and (2) receives notification of such rights or powers and appropriate voting and/or other documentation, the Issuer shall use its reasonable endeavours to notify the Transaction Counterparties and the Directing Party of such fact and request the Directing Party to provide instructions as to the relevant matter. Where:
(i) the Directing Party is “Swap Counterparty”, instructions are provided in the manner specified in any such notice by the Swap Counterparty by the close of business on the day that is 2 Business Days prior to the last day on which the relevant rights or powers are capable of being exercised in accordance with the terms of Initial Assets or as otherwise notified to the Directing Party, the Issuer shall, subject at all times to applicable law and the terms and conditions of such Initial Assets, use its reasonable endeavours to procure that such rights or powers are exercised with respect to the Initial Assets in accordance with the instructions given by such Directing Party, or
(ii) where the Directing Party is “Swap Counterparty and Noteholders” or “Noteholders”, instructions are provided in the manner specified in any such notice by any Noteholder by the close of business on the day that is 2 Business Days prior to the last day on which the relevant rights or powers are capable of being exercised in accordance with the terms of Initial Assets or as otherwise notified to the Directing Party, the Issuer shall, subject at all times to applicable law and the terms and conditions of such Initial Assets, use its reasonable endeavours to procure that such rights or powers are exercised with respect to a portion of the Initial Assets equal to the portion of the outstanding Notes represented by the Notes held by each relevant Noteholder that has provided such instructions in accordance with the instructions so provided. In the event of opposing instructions from the Swap Counterparty and the Noteholders, the Issuer shall follow the instructions of the Noteholders in the manner specified above. If instructions are not provided in the manner specified above or in any such notice, as the case may be, or the Issuer determin...