Majorities. Any reference herein to a majority of Holders shall be deemed to refer to a majority of the relevant aggregate principal amount of the outstanding Registrable Securities; provided that whenever the consent or approval of Holders is required hereunder, any Registrable Securities owned directly or indirectly by the Company or any of its affiliates shall not be counted in determining whether such consent or approval was given by the required majority.
Majorities. Any reference herein to a majority of Holders or Electing Holders shall be deemed to refer to a majority of the relevant aggregate principal amount of the outstanding Registrable Securities and any reference herein to a majority of Electing Holders shall be deemed to refer to a majority of the relevant aggregate principal amount of the outstanding Registrable Securities the Holder of which is an Electing Holder with respect to such Registrable Securities; provided that whenever the consent or approval of Holders or Electing Holders is required hereunder, any Registrable Securities owned directly or indirectly by the Company or any of its affiliates shall not be counted in determining whether such consent or approval was given by the required majority.
Majorities. Decisions shall be taken by a majority of two-thirds (2/3) of the votes.
Majorities. The majorities required to approve a Resolution at any meeting convened in accordance with these rules shall be:
4.2.1 if in respect of a Resolution not regarding a Reserved Matter, the majority of the votes cast at the relevant meeting of holders of Covered Bonds; or
4.2.2 if in respect of a Resolution regarding a Reserved Matter, at least 50 per cent. of the Principal Amount Outstanding of the Covered Bonds at such time or, at any adjourned meeting, 2/3 of the votes cast at the relevant meeting of holders of Covered Bonds.
Majorities. Any reference herein to a majority of Holders shall be deemed to refer to a majority of the relevant aggregate principal amount of the outstanding Transfer Restricted Securities; provided that whenever the consent or approval of Holders is required hereunder, any Transfer Restricted Securities owned directly or indirectly by the Company or any of its affiliates shall not be counted in determining whether such consent or approval was given by the required majority.
Majorities. Any determination of the Executive Committee in favour of treating a Nominated Site as a Trading Site shall require a simple majority of the votes cast by Committee Members at the relevant meeting provided that in the case of a Trading Site Application which falls to be considered under paragraph 5 the necessary majority shall be 75 per cent. of all the votes cast by Committee Members.
Majorities. The partners will, represented by the majority, govern the operations of the Company. All partners, including the dissidents and the absent, will remain subject to the agreement of the Board, bearing in mind the right of partnership separation which will remain valid whenever applicable. Majority will occur when a number of partners representing 55% of the capital stock vote in favor of the agreement, with the exception of the events mentioned in the following paragraph and the applicable legislation. Notwithstanding the above, in order to increase or decrease the capital stock of the Company, extend, merge, transform, break-up or liquidate the Company, waive the first refusal right for cases of increase in the capital stock, partner exclusion, waiver of non-compete prohibitions for the administrators, by-laws' modifications and in any other instances as required by law, a vote representing at least 80% of the capital stock will be required. A majority of valid votes representing at least a third of the capital stock of the Company will suffice to determine the enforcement of a responsibility action against the administrators of the Company.
Majorities. The majorities required to approve a Resolution at any meeting convened in accordance with these rules shall be:
(a) if in respect of a Resolution not regarding a Reserved Matter, the majority of the votes cast at the relevant meeting of holders of Covered Bonds; or
(b) if in respect of a Resolution regarding a Reserved Matter, at least 50 per cent, of the Principal Amount Outstanding of the Covered Bonds at such time or, at any adjourned meeting, 2/3 of the votes cast at the relevant meeting of holders of Covered Bonds.
(c) if in respect of a Resolution involving the increase of the charges imposed on the holders of the Covered Bonds or the adoption of measures which set out an unequal treatment of the holders of the Covered Bonds, all the Principal Amount Outstanding of the Covered Bonds at such time.
Majorities. All matters of the Company within the authority of the ---------- Board or of the shareholders meeting shall be decided by the favorable vote of a number of directors representing more than fifty per cent (50%) of the directors then holding office, whether directors or alternate directors replacing directors, in the case of the Board, or by a majority of more than fifty percent (50%) of the Shares, in the case of the shareholders meetings, subject to the following special rules:
(i) The favorable vote of at least one director proposed by each Partner then holding a share in the capital stock of the Company of not less than ten per cent (10%), and/or the attendance and favorable vote of shareholders owning more than 90% of the Shares of the Company, as the case may be, shall be required in order to approve any of the following resolutions:
(A) make loans to third parties (excluding loans to Controlled Companies or Related Companies) or to any of the Partners, and grant of guaranties for third parties'
(B) disposition or encumbrance of all or a substantial part of the assets of the Company; (C) grant of powers of attorney and/or delegation of powers for any of the acts listed in the foregoing subparagraphs; (D) limitation or suspension of the preemptive right for the subscription of new Shares; (E) transformation, extension of term or resumption of the Company (as such terms are understood under Argentine law);
Majorities. The decisions of the regular meeting shall be made by the affirmative vote of the absolute majority of the original face value represented thereat, while the decisions of the special meeting shall be made by the affirmative vote of two thirds (2/3) of the original face value of not canceled Securities represented thereat.
