Common use of Meetings of PD Debt Instrument Holders Clause in Contracts

Meetings of PD Debt Instrument Holders. The Agency Agreement contains provisions for convening meetings of the PD Debt Instrument Holders to consider any matter affecting their interests, including the modification by Extraordinary Resolution of any of these Conditions or any of the provisions of the Agency Agreement. The quorum at any meeting for passing an Extraordinary Resolution will be two or more persons present holding or representing in the aggregate at least 51% in principal amount of the PD Debt Instruments for the time being outstanding except that at any meeting the business of which includes the modification of certain of these Conditions the necessary quorum for passing an Extraordinary Resolution will be two or more persons present holding or representing in the aggregate at least 75% in principal amount of the PD Debt Instruments for the time being outstanding, or at any adjourned meeting two or more persons present whatever the principal amount of the PD Debt Instruments held or represented by them, except that at any adjourned meeting, the business of which includes the modification of certain of these Conditions, the necessary quorum for passing an Extraordinary Resolution will be two or more persons present holding or representing in the aggregate not less than 51% of the principal amount of the PD Debt Instruments for the time being outstanding. An Extraordinary Resolution passed at any meeting of the PD Debt Instrument Holders will be binding on all PD Debt Instrument Holders, whether or not they are present at the meeting, and on all Couponholders.