Common use of Implementation of Resolutions Clause in Contracts

Implementation of Resolutions. (1) Resolutions passed by the Holders' Meeting which amend or supplement the contents of the Terms and Conditions shall be implemented by supplementing or amending the relevant Global Note. If the Global Note is held with a securities depositary, the chairman of the meeting shall to this end transmit the resolution passed and recorded in the minutes to the securities depositary requesting it to attach the documents submitted to the existing documents in an appropriate manner. The chairman shall confirm to the securities depositary that the resolution may be implemented. (2) The Holders' Representative may not exercise any powers or authorisations granted to it by resolution for as long as the underlying resolution may not be implemented. (1) 1 to 12 of Part A shall apply mutatis mutandis to the taking of votes without a meeting, unless otherwise provided in the following paragraphs. (2) The voting shall be conducted by the person presiding over the taking of votes. Such person shall be a notary appointed by the Issuer, or the Holders' Representative if the latter has called for the taking of votes, or a person appointed by the court. § 1 (2) sentence 2 of Part A shall apply mutatis mutandis. (3) The call for the taking of votes shall specify the period within which votes may be cast. Such period shall not be less than 72 hours. During such period, the Holders may cast their votes in text form (Textform) to the person presiding over the taking of votes. The Convening Notice may provide for other forms of casting votes. The call for the taking of votes shall give details as to the prerequisites which must be met for the votes to qualify for being counted. (4) The person presiding over the taking of votes shall determine the entitlement to vote on the basis of proof presented and shall prepare a roster of the Holders entitled to vote. If a quorum does not exist, the person presiding over the taking of votes may convene a Holders' Meeting. Such meeting shall be deemed to be a second meeting within the meaning of § 7(3) sentence 3 of Part A. Minutes shall be taken of each resolution passed. § 8

Implementation of Resolutions. (1) Resolutions passed by the Holders' Meeting which amend or supplement the contents of the Terms and Conditions shall be implemented by supplementing or amending the relevant Global Note. If the Global Note is held with a securities depositary, the chairman of the meeting shall to this end transmit the resolution passed and recorded in the minutes to the securities depositary requesting it to attach the documents submitted to the existing documents in an appropriate manner. The chairman shall confirm to the securities depositary that the resolution may be implemented. (2) The Holders' Representative may not exercise any powers or authorisations granted to it by resolution for as long as the underlying resolution may not be implemented. (1) 1 to 12 of Part A shall apply mutatis mutandis to the taking of votes without a meeting, unless otherwise provided in the following paragraphs. (2) The voting shall be conducted by the person presiding over the taking of votes. Such person shall be a notary appointed by the Issuer, or the Holders' Representative if the latter has called for the taking of votes, or a person appointed by the court. § 1 (2) sentence 2 of Part A shall apply mutatis mutandis. (3) The call for the taking of votes shall specify the period within which votes may be cast. Such period shall not be less than 72 hours. During such period, the Holders may cast their votes in text form (Textform) to the person presiding over the taking of votes. The Convening Notice may provide for other forms of casting votes. The call for the taking of votes shall give details as to the prerequisites which must be met for the votes to qualify for being counted. (4) The person presiding over the taking of votes shall determine the entitlement to vote on the basis of proof presented and shall prepare a roster of the Holders entitled to vote. If a quorum does not exist, the person presiding over the taking of votes may convene a Holders' Meeting. Such meeting shall be deemed to be a second meeting within the meaning of § 7(3) sentence 3 of Part A. Minutes shall be taken of each resolution passed. § 8.