Common use of One Vote Per Share of Preferred Shares Clause in Contracts

One Vote Per Share of Preferred Shares. Except as otherwise provided herein or in the Declaration of Trust or as otherwise required by law, (i) each Holder of Preferred Shares shall be entitled to one vote for each Preferred Share held by such Holder on each matter submitted to a vote of shareholders of the Trust, and (ii) the holders of outstanding preferred shares of beneficial interest of the Trust, including the Preferred Shares, and of Common Shares shall vote together as a single class; provided, however, that, subject to the division of the Trustees into classes with respect to their respective terms of office, as provided in the Declaration of Trust, at any meeting of the shareholders of the Trust held for the election of Trustees, the holders of outstanding preferred shares of beneficial interest of the Trust, including the Preferred Shares, represented in person or by proxy at said meeting shall be entitled, as a class, to the exclusion of the holders of all other securities and classes of shares of beneficial interest of the Trust, to elect two Trustees of the Trust, each Preferred Share entitling the holder thereof to one vote. Subject to paragraph 4(b) of this Part I, the holders of outstanding Common Shares and preferred shares of beneficial interest, including the Preferred Shares, voting together as a single class, shall elect the balance of the Trustees.

One Vote Per Share of Preferred Shares. Except as otherwise provided herein or in the Declaration of Trust Operating Agreement or as otherwise required by law, (i) each Holder of Preferred Shares shall be entitled to one vote for each share of Preferred Share Shares held by such Holder on each matter affecting such Preferred Shares submitted to a vote of shareholders the members of the TrustFund, and (ii) the holders of outstanding preferred shares of beneficial interest of the Trustshares, including each outstanding share of the Preferred Shares, and of the Common Shares shall vote together as a single class; provided, however, that, subject to the division of the Trustees into classes with respect to their respective terms of office, as provided in the Declaration of Trust, at any meeting of the shareholders members of the Trust Fund held for the election of Trusteesdirectors, the holders of outstanding preferred shares of beneficial interest of the Trustshares, including the Preferred Shares, represented in person or by proxy at said meeting meeting, shall be entitled, as a class, to the exclusion of the holders of all other securities and classes of shares of beneficial membership interest of in the TrustFund, to elect two Trustees directors of the TrustFund, each of the Preferred Share Shares entitling the holder thereof to one vote. Subject to paragraph 4(bSection 3(b) of Part I of this Part IStatement, the holders of outstanding Common Shares and preferred shares of beneficial interest, including the Preferred Shares, voting together as a single class, shall elect the balance of the Trusteesdirectors. If, however, the Credit Enhancer makes a payment under the Preferred Shares Insurance Policy, the Credit Enhancer will be entitled to voting rights in respect of the Preferred Shares, which the Credit Enhancer will vote in its own interests even if contrary to the interests of the holders of the Preferred Shares; provided, however, that the Credit Enhancer may not vote in a manner that would adversely affect the right of the Holders of the Preferred Shares to receive any payments such Holders of Preferred Shares are entitled to.

One Vote Per Share of Preferred Shares. Except as otherwise provided herein or in the Declaration of Trust or as otherwise required by law, (i) each Holder of Preferred Shares shall be entitled to one vote for each share of Preferred Share Shares held by such Holder on each matter submitted to a vote of shareholders of the Trust, and (ii) the holders of outstanding preferred shares of beneficial interest of the Trustshares, including each share of the Preferred Shares, and of Common Shares shall vote together as a single class; provided, however, that, subject to the division of the Trustees into classes with respect to their respective terms of office, as provided in the Declaration of Trust, at any meeting of the shareholders of the Trust held for the election of Trusteestrustees, the holders of outstanding preferred shares of beneficial interest of the Trustshares, including the Preferred Shares, represented in person or by proxy at said meeting meeting, shall be entitled, as a class, to the exclusion of the holders of all other securities and classes of shares of beneficial interest of the Trust, to elect two Trustees trustees of the Trust, each Preferred Share entitling the holder thereof to one vote. Subject to paragraph 4(b5(b) of this Part I, the holders of outstanding Common Shares and preferred shares of beneficial interest, including the Preferred Shares, voting together as a single class, shall elect the balance of the Trusteestrustees.