Common use of Class M Notes Clause in Contracts

Class M Notes. In respect of the Class M Notes, the Issuer Trust Deed provides that, subject to Condition 11(A)(6): (i) a resolution which, in the sole opinion of the Note Trustee, affects the interests of the holders of the Class M Notes of one Series only shall be deemed to have been duly passed if passed at a meeting of the holders of the Class M Notes of that Series; (ii) a resolution which, in the sole opinion of the Note Trustee, affects the interests of the holders of the Class M Notes of any two or more Series but does not give rise to a conflict of interest between the holders of such two or more Series of Class M Notes, shall be deemed to have been duly passed if passed at a single meeting of the holders of such two or more series of Class M Notes; and (iii) a resolution which, in the sole opinion of the Note Trustee, affects the interests of the holders of the Class M Notes of any two or more Series and gives or may give rise to a conflict of interest between the holders of such two or more Series of Class M Notes, shall be deemed to have been duly passed only if, in lieu of being passed at a single meeting of the holders of such two or more Series of Class M Notes, it shall be passed at separate meetings of the holders of such two or more Series of Class M Notes.

Class M Notes. In respect of the Class M Notes, the Master Issuer Trust Deed provides that, subject to Condition 11(A)(6):CONDITION 11.2: (i) a resolution which, in the sole opinion of the Note Trustee, affects the interests of the holders Holders of one class only of the Class M Notes of one Series only shall be deemed to have been duly passed if passed at a meeting of the holders Holders of that class of the Class M Notes of that SeriesNotes; (ii) a resolution which, in the sole opinion of the Note Trustee, affects the interests of the holders Holders of any two or more classes of the Class M Notes of any two or more Series but does not give rise to a conflict of interest between the holders Holders of any such two or more Series Classes of Class M Notes, shall be deemed to have been duly passed if passed at a single meeting of the holders Holders of such two or more series Classes of Class M Notes; and (iii) a resolution which, in the sole opinion of the Note Trustee, affects the interests of the holders Holders of any two or more classes of the Class M Notes of any two or more Series and gives or may give rise to a conflict of interest between the holders Holders of any such two or more Series Classes of Class M Notes, shall be deemed to have been duly passed only if, in lieu of being passed at a single meeting of the holders Holders of such two or more Series Classes of Class M Notes, it shall be passed at separate meetings of the holders Holders of each of such two or more Series Classes of Class M Notes.

Class M Notes. In respect of the Class M Notes, the Issuer Trust Deed provides that, Notes subject to Condition 11(A)(6sub-paragraph (vi): (ia) a resolution which, in the sole opinion of the Note Trustee, affects the interests of the holders of the Class M Notes of one Series only shall be deemed to have been duly passed if passed at a meeting of the holders of the Class M Notes of that Series; (iib) a resolution which, in the sole opinion of the Note Trustee, affects the interests of the holders of the Class M Notes of any two or more Series but does not give rise to a conflict of interest between the holders of such two or more Series of Class M Notes, shall be deemed to have been duly passed if passed at a single meeting of the holders of such two or more series of Class M Notes; and (iiic) a resolution which, in the sole opinion of the Note Trustee, affects the interests of the holders of the Class M Notes of any two or more Series and gives or may give rise to a conflict of interest between the holders of such two or more Series of Class M Notes, shall be deemed to have been duly passed only if, in lieu of being passed at a single meeting of the holders of such two or more Series of Class M Notes, it shall be passed at separate meetings of the holders of such two or more Series of Class M Notes.