Meetings of Securityholders of the Trust Preferred Securities. No annual meeting of Securityholders is required to be held. The Administrative Trustees, however, shall call a meeting of the Securityholders of the Trust Preferred Securities of a Series to vote on any matter upon the written request of the Securityholders of at least 25% in aggregate Liquidation Amount of the Outstanding Trust Preferred Securities of such Series; the Administrative Trustees shall call a meeting of the Securityholders of the Trust Preferred Securities of all Series to vote on any matter upon the written request of the Securityholders of at least 25% in aggregate Liquidation Amount of the Outstanding Trust Preferred Securities of all Series, considered together; and the Administrative Trustees or the Property Trustee may, at any time in their discretion, call a meeting of the Holders of the Trust Preferred Securities of any Series to vote on any matters as to which such Holders are entitled to vote. The Holders of record of 50% of the Trust Preferred Securities of the Applicable Series entitled to attend a meeting, present in person or by proxy, shall constitute a quorum at any meeting of the Securityholders of the Trust Preferred Securities. If a quorum is present at a meeting, an affirmative vote by the Securityholders present, in person or by proxy, holding Trust Preferred Securities representing at least a Majority in Liquidation Amount of the Trust Preferred Securities of the Applicable Series entitled to attend such meeting held by the Holders present, either in person or by proxy, at such meeting shall constitute the action of the Holders of the Trust Preferred Securities of the Applicable Series invited to attend such meeting, unless this Trust Agreement requires a greater number of affirmative votes.
Appears in 6 contracts
Samples: Trust Agreement (National City Preferred Capital Trust I), Trust Agreement (National City Corp), Trust Agreement (National City Corp)
Meetings of Securityholders of the Trust Preferred Securities. No annual meeting of Securityholders is required to be held. The Administrative Trustees, however, shall call a meeting of the Securityholders of the Trust Preferred Securities of a Series to vote on any matter upon the written request of the Securityholders of at least 25% in aggregate Liquidation Amount of the Outstanding Trust Preferred Securities of such Series; the Administrative Trustees shall call a meeting of the Securityholders of the Trust Preferred Securities of all Series to vote on any matter upon the written request of the Securityholders of at least 25% in aggregate Liquidation Amount of the Outstanding Trust Preferred Securities of all Series, considered together; and the Administrative Trustees or the Property Trustee may, at any time in their discretion, call a meeting of the Holders of the Trust Preferred Securities of any Series to vote on any matters as to which such Holders are entitled to vote. The Holders of record of 50% of the Trust Preferred Securities of the Applicable Affected Series entitled to attend a meeting, present in person or by proxy, shall constitute a quorum at any meeting of the Securityholders of the Trust Preferred Securities. If a quorum is present at a meeting, an affirmative vote by the Securityholders present, in person or by proxy, holding Trust Preferred Securities representing at least a Majority in Liquidation Amount of the Trust Preferred Securities of the Applicable Affected Series entitled to attend such meeting held by the Holders present, either in person or by proxy, at such meeting shall constitute the action of the Holders of the Trust Preferred Securities of the Applicable Affected Series invited to attend such meeting, unless this Trust Agreement requires a greater number of affirmative votes.
Appears in 3 contracts
Samples: Trust Agreement (Wells Fargo Capital XVIII), Trust Agreement (Wells Fargo & Co/Mn), Trust Agreement (Wells Fargo & Co/Mn)
Meetings of Securityholders of the Trust Preferred Securities. No annual meeting of Securityholders is required to be held. The Administrative Trustees, however, shall call a meeting of the Securityholders of the Trust Preferred Securities of a Series to vote TRUST AGREEMENT on any matter upon the written request of the Securityholders of at least 25% in aggregate Liquidation Amount of the Outstanding Trust Preferred Securities of such Series; the Administrative Trustees shall call a meeting of the Securityholders of the Trust Preferred Securities of all Series to vote on any matter upon the written request of the Securityholders of at least 25% in aggregate Liquidation Amount of the Outstanding Trust Preferred Securities of all Series, considered together; and the Administrative Trustees or the Property Trustee may, at any time in their discretion, call a meeting of the Holders of the Trust Preferred Securities of any Series to vote on any matters as to which such Holders are entitled to vote. The Holders of record of 50% of the Trust Preferred Securities of the Applicable Series entitled to attend a meeting, present in person or by proxy, shall constitute a quorum at any meeting of the Securityholders of the Trust Preferred Securities. If a quorum is present at a meeting, an affirmative vote by the Securityholders present, in person or by proxy, holding Trust Preferred Securities representing at least a Majority in Liquidation Amount of the Trust Preferred Securities of the Applicable Series entitled to attend such meeting held by the Holders present, either in person or by proxy, at such meeting shall constitute the action of the Holders of the Trust Preferred Securities of the Applicable Series invited to attend such meeting, unless this Trust Agreement requires a greater number of affirmative votes.
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