Common use of Determination of Voting Rights Clause in Contracts

Determination of Voting Rights. Conduct and Adjournment of ---------------------------------------------------------- Meetings. Notwithstanding any other provisions of this Indenture, the Trustee -------- may make such reasonable regulations as it may deem advisable for any meeting of Securityholders of a series, in regard to the proof of the holding of Securities of such series and of the appointment of proxies, and in regard to the appointment and duties of inspectors of votes, the submission and examination of proxies, certificates and other evidence of the right to vote, and such other matters concerning the conduct of the meeting as it shall deem appropriate. Except as otherwise permitted or required by any such regulations, the holding of Securities of a series and the appointment of any proxy shall be proved in the manner specified in Article 9; provided, however, that such regulations may provide that written instruments appointing proxies, regular on their face, may be presumed valid and genuine without the proof specified in Article 9. The Trustee shall, by an instrument in writing, appoint a temporary chairman of the meeting, unless the meeting shall have been called by the Company or by Securityholders of a series as provided in Section 9.3, in which case the Company or the Securityholders of that series calling the meeting, as the case may be, shall in like manner appoint a temporary chairman. A permanent chairman and a secretary of the meeting shall be elected by vote of the holders of a majority in principal the Outstanding Securities of that series represented at the meeting and entitled to vote. Subject to the provisions of Section 9.9, at any meeting each Securityholder of that series or proxy shall be entitled to one vote for each $1,000 (or equivalent thereof) principal amount of Outstanding Securities of such series held or represented by him; provided, however, that no vote shall be cast or counted at any meeting in respect of any Security of that series challenged as not Outstanding and ruled by the chairman of the meeting to be not Outstanding. The chairman of the meeting shall have no right to vote other than by virtue of Securities of such series held by him or instruments in writing as aforesaid duly designating him as the person to vote on behalf of other Securityholders of that series. Any meeting of Securityholders of a series duly called pursuant to the provisions of Section 9.2 or 9.3 may be adjourned from time to time, and the meeting may be held as so adjourned without further notice. Any meeting of Holders of Securities of any series duly called pursuant to Section 9.2 or 9.3 at which a quorum is present may be adjourned from time to time by Persons entitled to vote a majority in principal amount of the Outstanding Securities of such series represented at the meeting; and the meeting may be held as so adjourned without further notice.

Appears in 3 contracts

Samples: Usx Capital Trust I, Usx Corp, Usx Capital Trust I

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Determination of Voting Rights. Conduct and Adjournment of ---------------------------------------------------------- Meetings. Notwithstanding any other provisions of this Indenture, the Trustee -------- may make such reasonable regulations as it may deem advisable for any meeting of Securityholders of a series, in regard to the proof of the holding of Securities of such series and of the appointment of proxies, and in regard to the appointment and duties of inspectors of votes, the submission and examination of proxies, certificates and other evidence of the right to vote, and such other matters concerning the conduct of the meeting as it shall deem appropriate. Except as otherwise permitted or required by any such regulations, the holding of Securities of a series and the appointment of any proxy shall be proved in the manner specified in Article 9; provided, however, that such regulations may provide that written instruments appointing proxies, regular on their face, may be presumed valid and genuine without the proof specified in Article 9. The Trustee shall, by an instrument in writing, appoint a temporary chairman of the meeting, unless the meeting shall have been called by the Company or by Securityholders of a series as provided in Section 9.3, in which case the Company or the Securityholders of that series calling the meeting, as the case may be, shall in like manner appoint a temporary chairman. A permanent chairman and a secretary of the meeting shall be elected by vote of the holders of a majority in principal the Outstanding Securities of that series represented at the meeting and entitled to vote. Subject to the provisions of Section 9.9, at any meeting each Securityholder of that series or proxy shall be entitled to one vote for each $1,000 (or equivalent thereof) principal amount of Outstanding Securities of such series held or represented by him; provided, however, that no vote shall be cast or counted at any meeting in respect of any Security of that series challenged as not Outstanding and ruled by the chairman of the meeting to be not Outstanding. The chairman of the meeting shall have no right to vote other than by virtue of Securities of such series held by him or instruments in writing as aforesaid duly designating him as the person to vote on behalf of other Securityholders of that series. Any meeting of Securityholders of a series duly called pursuant to the provisions of Section 9.2 or 9.3 may be adjourned from time to time, and the meeting may be held as so adjourned without further notice. Any meeting of Holders of Securities of any series duly called pursuant to Section 9.2 or 9.3 at which a quorum is present may be adjourned from time to time by Persons entitled to vote a majority in principal amount of the Outstanding Securities of such series represented at the meeting; and the meeting may be held as so adjourned without further notice.

Appears in 1 contract

Samples: Gt Capital Trust Iv

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