Common use of Electronic Consent Clause in Contracts

Electronic Consent. where the terms of the resolution proposed by the issuer have been notified to the Bondholders through the relevant clearing system(s) as provided in sub-paragraphs (i) and/or (ii) below, the Issuer shall be entitled to rely upon approval of such resolution given by way of electronic consents communicated through the electronic communications systems of the relevant clearing system(s) to the Fiscal Agent or another specified agent in accordance with their operating rules and procedures by or on behalf of the holders of not less than 75 per cent. in nominal amount of the Bonds outstanding (the “Required Proportion”) by close of business on the Relevant Date (“Electronic Consent”). Any resolution passed in such manner shall be binding on all Bondholders and Couponholders, even if the relevant consent or instruction proves to be defective. The Issuer shall not be liable or responsible to anyone for such reliance.

Appears in 2 contracts

Samples: Fiscal Agency Agreement, Fiscal Agency Agreement

AutoNDA by SimpleDocs

Electronic Consent. where the terms of the resolution proposed by the issuer Issuer have been notified to the Bondholders Noteholders through the relevant clearing system(s) ), as provided in sub-sub- paragraphs (i) and/or (ii) below, the Issuer shall be entitled to rely upon approval of such resolution given by way of electronic consents communicated through the electronic communications systems of the relevant clearing system(s) to the Fiscal Agent or another specified agent in accordance with their operating rules and procedures by or on behalf of the holders of not less than 75 per cent. in nominal amount of the Bonds Notes outstanding (the “Required Proportion”) (“Electronic Consent”) by close of business on the Relevant Date (“Electronic Consent”)Date. Any resolution passed in such manner shall be binding on all Bondholders Noteholders and Couponholders, even if the relevant consent or instruction proves to be defective. The Issuer shall not be liable or responsible to anyone for such reliance.;

Appears in 1 contract

Samples: Agency Agreement

Electronic Consent. where the terms of the resolution proposed by the issuer Issuer have been notified to the Bondholders Noteholders through the relevant clearing system(s) ), as provided in sub-sub- paragraphs (i) and/or (ii) below, the Issuer shall be entitled to rely upon approval of such resolution given by way of electronic consents communicated through the electronic communications systems of the relevant clearing system(s) to the Fiscal Paying Agent or another specified agent in accordance with their operating rules and procedures by or on behalf of the holders of not less than 75 per cent. in nominal principal amount of the Bonds Notes outstanding (the “Required Proportion”) (“Electronic Consent”) by close of business on the Relevant Date (“Electronic Consent”)Date. Any resolution passed in such manner shall be binding on all Bondholders Noteholders and Couponholders, even if the relevant consent or instruction proves to be defective. The Issuer shall not be liable or responsible to anyone for such reliance.;

Appears in 1 contract

Samples: Agency Agreement

AutoNDA by SimpleDocs

Electronic Consent. where the terms of the resolution proposed by the issuer Issuer have been notified to the Bondholders Noteholders through the relevant clearing system(s) ), as provided in sub-sub- paragraphs (i) and/or and (ii) below, the Issuer shall be entitled to rely upon approval of such resolution proposed by the Issuer given by way of electronic consents communicated through the electronic communications systems of the relevant clearing system(s) to the Fiscal Agent or another specified agent in accordance with their operating rules and procedures by or on behalf of the holders of not less than 75 per cent. in nominal amount of the Bonds Notes outstanding (the “Required Proportion”) (“Electronic Consent”) by close of business on the Relevant Date (“Electronic Consent”)Date. Any resolution passed in such manner shall be binding on all Bondholders Noteholders and Couponholders, even if the relevant consent or instruction proves to be defective. The Issuer shall not be liable or responsible to anyone for such reliance.:

Appears in 1 contract

Samples: Agency Agreement

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!