Common use of Ratification of Trustee action Clause in Contracts

Ratification of Trustee action. (a) Despite any other provision of this Deed, but subject to clause 13.10(b), the Unit Holders can by: (i) Ordinary Resolution of Unit Holders holding Ordinary Units; and (ii) where there are Preference Units on issue, Ordinary Resolution of Unit Holders holding Preference Units, ratify any action taken by the Trustee and, once ratified, the Trustee shall have no liability to Unit Holders in respect of that action. (b) While the Unit Holders Deed is in force, any action of the Trustee which requires the approval, consent or direction of a particular majority of the Unit Holders pursuant to, and in accordance with, the relevant provisions of the Unit Holders Deed, can only be ratified by that same majority.