Common use of Convening of meeting by the Common Representative Clause in Contracts

Convening of meeting by the Common Representative. The Common Representative may convene a meeting of holders of Covered Bonds at any time and the Common Representative shall be obliged to do so, subject to (to the extent permitted by law) it being indemnified and/or secured and/or funded to its satisfaction, upon the request in writing of holders of Covered Bonds representing not less than 5 per cent. of the aggregate principal amount of the Covered Bonds of a Series then outstanding. Every meeting of holders of Covered Bonds shall be held on the date, and at the time and place, approved by the Common Representative in the notice for such meeting of holders of Covered Bonds.

Convening of meeting by the Common Representative. The Common Representative may convene a meeting of holders of Covered Bonds at any time and the Common Representative shall be obliged to do so, subject to (to the extent permitted by law) it being indemnified and/or secured and/or funded to its satisfaction, upon the request in writing of holders of Covered Bonds representing not less than 5 five per cent. of the aggregate principal amount of the Covered Bonds of a Series series then outstanding. Every meeting of holders of Covered Bonds shall be held on the date, and at the time and place, approved by the Common Representative in the notice for such meeting of holders of Covered Bonds.

Convening of meeting by the Common Representative. The Common Representative may convene a meeting of holders of Covered Bonds at any time and the Common Representative shall be obliged to do so, subject to (to the extent permitted by law) it being indemnified and/or secured and/or funded to its satisfaction, upon the request in writing of holders of Covered Bonds representing not less than 5 per cent. , of the aggregate principal amount of the Covered Bonds of a Series then outstanding. Every meeting of holders of Covered Bonds shall be held on the date, and at the time and place, approved by the Common Representative in the notice for such meeting of holders of Covered Bonds.