Instruments Executed by Holders Bind Future Holders Sample Clauses
This clause establishes that any agreements, consents, or instruments executed by current holders of a security or interest are binding not only on those holders but also on all future holders of the same security or interest. In practice, if a majority of current bondholders agree to amend certain terms, those amendments will automatically apply to anyone who later acquires those bonds. The core function of this clause is to ensure continuity and enforceability of collective decisions, preventing future holders from challenging or opting out of obligations or changes agreed upon by their predecessors.
Instruments Executed by Holders Bind Future Holders. At any time prior to (but not after) the evidencing to the Trustee, as provided in Section 8.01, of the taking of any action by the Holders of the percentage in aggregate principal amount of the Debt Securities of any series specified in this Indenture in connection with such action and subject to the following paragraph, any Holder of a Debt Security which is shown by the evidence to be included in the Debt Securities the Holders of which have consented to such action may, by filing written notice with the Trustee at its corporate trust office and upon proof of holding as provided in Section 8.02, revoke such action so far as concerns such Debt Security. Except as aforesaid any such action taken by the Holder of any Debt Security shall be conclusive and binding upon such Holder and upon all future Holders and owners of such Debt Security and of any Debt Security issued upon transfer thereof or in exchange or substitution therefor, irrespective of whether or not any notation in regard thereto is made upon such Debt Security or such other Debt Securities. Any action taken by the Holders of the percentage in aggregate principal amount of the Debt Securities of any series specified in this Indenture in connection with such action shall be conclusively binding upon the Issuers, the Subsidiary Guarantors, the Trustee and the Holders of all the Debt Securities of such series. The Issuers may, but shall not be obligated to, fix a record date for the purpose of determining the Holders of Debt Securities entitled to give their consent or take any other action required or permitted to be taken pursuant to this Indenture. If a record date is fixed, then notwithstanding the immediately preceding paragraph, those Persons who were Holders of Debt Securities at such record date (or their duly designated proxies), and only those Persons, shall be entitled to give such consent or to revoke any consent previously given or to take any such action, whether or not such Persons continue to be Holders of Debt Securities after such record date. No such consent shall be valid or effective for more than 120 days after such record date unless the consent of the Holders of the percentage in aggregate principal amount of the Debt Securities of such series specified in this Indenture shall have been received within such 120-day period.
Instruments Executed by Holders Bind Future Holders. At any time prior to (but not after) the evidencing to the Trustee, as provided in Section 8.01, of the taking of any action by the Holders of the percentage in aggregate principal amount of the Securities of any series then Outstanding specified in this Indenture in connection with such action, any Holder of a Security of such series which is shown by the evidence to be included in the Securities of the particular series the Holders of which have consented to such action may, by filing written notice with the Trustee at its Corporate Trust Office and upon proof of holding as provided in Section 8.02, revoke such action so far as concerns such Security. Except as aforesaid, any such action taken by the Holder of any Security shall be conclusive and binding upon such Holder and upon all future Holders and owners of such Security, and of any Security issued upon registration of transfer thereof or in exchange or substitution therefor, irrespective of whether or not any notation in regard thereto is made upon such Security or such other Security. Any action taken by the Holders of the percentage in aggregate principal amount of the Securities of any series specified in this Indenture in connection with such action shall be conclusively binding upon the Company, the Trustee and the Holders of all such Securities. ARTICLE NINE HOLDERS' MEETINGS AND CONSENTS
Instruments Executed by Holders Bind Future Holders. At any time prior to (but not after) the Trustee receiving evidence, as provided in Section 8.01, of any action taken by the Holders of the percentage in aggregate principal amount of the Debt Securities of any series specified in this Indenture and subject to the following paragraph, any Holder of a Debt Security which is shown by the evidence to have consented to such action may, by filing written notice with the Trustee at its corporate trust office and upon proof of holding as provided in
Instruments Executed by Holders Bind Future Holders. At any time prior to (but not after) the evidencing to the Trustee, as provided in Section 8.01, of the taking of any action by the Holders of the percentage in aggregate principal amount at Stated Maturity of the Securities of any series specified in this indenture in connection with such action, any Holder of a Security of such series which is shown by the evidence to be included in the Securities of the particular series the Holders of which have consented to such action may, by filing written notice with the Trustee at its Corporate Trust Office and upon proof of holding as provided in Section 8.02, revoke such action so far as concerns such Security. Except as aforesaid, any such
Instruments Executed by Holders Bind Future Holders. At any time prior to (but not after) the evidencing to the Company, as provided in Section 10.01, of the taking of any action by the Holders of the percentage in aggregate principal amount of the Notes specified in this Agreement in connection with the action, any Holder of a Note shown by the evidence to be included in the Notes the Holders of which have consented to the action may, by filing written notice with the Company at its principal office and upon proof of holding as provided in Section 10.02, revoke the action so far as it concerns that Note. Except as aforesaid, any such action taken by the Holder and any direction, demand, request, waiver, consent, vote or other action of the Holder that by any provisions of this Agreement is required or permitted to be given shall be conclusive and binding upon the Holder and upon all future Holders and owners of the Note, and of any Note issued in lieu thereof, irrespective of whether any notation in regard thereto is made upon the Note. Any action taken by the Holders of the percentage in aggregate principal amount of the Notes specified in this Agreement in connection with the action shall be conclusively binding upon the Holders of all the Notes.
Instruments Executed by Holders Bind Future Holders. At any time prior to (but not after) the evidencing to the Trustee, as provided in Section 8.01, of the taking of any action by the Holders of the percentage in aggregate principal