Pari Passu Securities. (a) Notwithstanding any terms of the relevant Securities to the contrary, any Pari Passu Securities will rank pari passu with one another as if they constituted one class of Security in proportion to their par value.
Pari Passu Securities. Notwithstanding any terms of the relevant Securities to the contrary, any Pari Passu Securities will rank pari passu with one another as if they constituted one class of Security in proportion to their par value. The Parties shall procure that decision making in respect of any Pari Passu Securities is effected by holders of the Pari Passu Securities as if the Pari Passu Securities constituted one class of Security. Decision making for the purposes of this Clause 26 shall be the making of any decision reserved under the relevant Security as a matter requiring the consent or approval of the holders of that Security (the “Specific Class”). The effect of this Clause 26 shall be that, for the purpose of decision making in respect of any Pari Passu Security(s), the Specific Class is extended to include all holders of Pari Passu Securities (the “Pari Passu Class”) and a decision or matter requiring the consent or approval of, or in respect of the Specific Class, may only be effected if it is approved by the Pari Passu Class (the relevant quorum and thresholds of the Specific Class for the purpose of such decision making being extended to the Pari Passu Class accordingly). If any amendment, variation, waiver or abrogation is made or granted in accordance with the terms of any Pari Passu Security where the requisite majority of holders of such Pari Passu Security have approved such amendment, variation, waiver or abrogation, it shall be deemed to have been made or granted (as the case may be) in respect of each other Pari Passu Security at the same time.
