Debentureholder Approval Clause Samples

Debentureholder Approval. 18.1. The powers set out in Paragraph 17 hereof shall be exercisable by a unanimous approval of all the Debentureholders at a meeting of the Debentureholders duly convened, other than as set out in Paragraph 8 above. 18.2. Notwithstanding anything herein contained, it shall be competent for the Debentureholders who are entitled to exercise their voting rights, to exercise such rights by way of letter(s) signed by or on behalf of such Debentureholders, without requiring the convening of a meeting of the Debentureholders. Such letter or letters shall be deemed to constitute a resolution validly passed at a meeting of the Debentureholders duly convened and held as aforesaid and shall have effect accordingly. The purpose of these Guidelines is to clarify the meaning of the terms "Corrupt Practice", "Fraudulent Practice", "Coercive Practice", "Collusive Practice" and "Obstructive Practice" in the context of IFC operations.