Securityholder Action by Written Consent Clause Samples
The Securityholder Action by Written Consent clause allows securityholders to take formal actions or make decisions without holding a physical meeting, provided that the required number of securityholders sign a written consent. In practice, this means that resolutions such as approving mergers, electing directors, or amending agreements can be executed efficiently by collecting signatures from the necessary parties, often via electronic or paper documents. This clause streamlines corporate governance by enabling prompt decision-making and reducing the logistical burdens of convening meetings, thereby ensuring that important actions can be taken quickly and with minimal administrative overhead.
Securityholder Action by Written Consent. Any action which may be taken by Securityholders at a meeting may be taken without a meeting if Securityholders holding more than a majority of all Outstanding Trust Securities (based upon their Liquidation Amount) entitled to vote in respect of such action (or such larger proportion thereof as shall be required by any express provision of this Trust Agreement) shall consent to the action in writing.
Securityholder Action by Written Consent. Any action which may be taken by Securityholders at a meeting may be taken without a meeting if Securityholders holding at least a majority in aggregate Liquidation Amount of all Outstanding Trust Securities entitled to vote in respect of such action (or such larger proportion thereof as shall be required by any express provision of this Trust Agreement) shall consent to the action in writing. The Administrative Trustees shall cause a notice of any matter upon which action by written consent of the Securityholders is to be taken, to be given to each Holder of record of the Outstanding Capital Securities in the same manner as that set forth in Section 6.02 for notice of meetings.
Securityholder Action by Written Consent. Any action which may be taken by Securityholders at a meeting may be taken without a meeting if Securityholders holding more than a majority of all Outstanding Trust Securities (based upon their aggregate Liquidation Amount)