Serial Meetings. (a) If any business to be transacted at a meeting of Debt Security holders, or any action to be taken or power to be exercised by instrument in writing under Section 9.14, especially affects the rights of the holders of Debt Securities of one or more series in a manner or to an extent substantially differing from that in which it affects the rights of the holders of Debt Securities of any other series (as to which an opinion of Counsel delivered to the Trustee shall be binding on all Debt Security holders, the Trustee and the Corporation for the purposes hereof), then:
(i) reference to such fact, indicating each series so especially affected, shall be made in the notice of such meeting and the meeting shall be and is herein called a "serial meeting";
(ii) the holders of Debt Securities of a series so especially affected shall not be bound by any action taken at a serial meeting unless in addition to compliance with the other provisions of this Article:
(A) there are present in person or by proxy at the said meeting holders of at least 25% (or, for the purpose of passing any extraordinary resolution, a majority) in principal amount of the outstanding Debt Securities of such series, subject to the provisions of this Article as to adjourned meetings;
(B) the resolution is passed by the favourable votes of the holders of at least a majority (or, in the case of an extraordinary resolution, not less than 66 2/3%) of the principal amount of Debt Securities of such series voted on the resolution; and
(iii) the holders of Debt Securities of a series so especially affected shall not be bound by any action taken or power exercised by instrument in writing under Section 9.14 unless such instrument is signed in one or more counterparts by the holders of 66 2/3% of the principal amount of outstanding Debt Securities of such series.
(b) If in the opinion of Counsel delivered to the Trustee any business to be transacted at any meeting or any action to be taken or power to be exercised by instrument in writing under Section 9.14 does not adversely affect the rights of the holders of Debt Securities of one or more particular series, the provisions of this Article 9 shall apply as if the Debt Securities of such series were not outstanding and no notice of any such meeting need be given to the holders of the Debt Security of such series.
Serial Meetings. If any business to be transacted at a meeting of debenture holders, or any action to be taken or power to be exercised by instrument in writing under Section 9.15, especially affects the rights of the holders of Debentures of one or more series in a manner or to an extent substantially differing from the manner in which or the extent to which it affects the rights of the holders of Debentures of any other series (as determined by Counsel, which determination shall be binding on the debenture holders and the Trustee) then:
(a) reference to such fact, indicating each series so especially affected, shall be made in the notice of such meeting and the meeting shall be and is herein called a “serial meeting”;
(b) the holders of Debentures of a series so especially affected shall not be bound by any action taken at a serial meeting unless in addition to compliance with the other provisions of this Article:
(i) there are present in person or by proxy at the said meeting holders of at least 10% in principal amount of the outstanding Debentures of such series, subject to the provisions of this Article as to quorum at adjourned meetings;
(ii) the resolution is passed by the favourable votes of the holders of at least a majority (or, in the case of an extraordinary resolution, not less than 66 2/3%) of the principal amount of Debentures of such series voted on the resolution; and
(c) the holders of Debentures of a series so especially affected shall not be bound by any action taken or power exercised by instrument in writing under Section 9.15 unless such instrument is signed in one or more counterparts by the holders of not less than 66 2/3% , in the case of an extraordinary resolution, or more than 50%, in the case of an ordinary resolution, of the principal amount of outstanding Debentures of such series. If in the opinion of Counsel any business to be transacted at any meeting or any action to be taken or power to be exercised by instrument in writing under Section 9.15 does not adversely affect the rights of the holders of Debentures of one or more particular series or issue, the provisions of this Article IX shall apply as if the Debentures of such series or issue were not outstanding and no notice of any such meeting need be given to the holders of the Debenture of such series or issue.
Serial Meetings. If the business to be transacted at any meeting by resolution, extraordinary or otherwise, especially affects the rights of the Holders of any Series or part of a Series of Notes in a manner or to an extent substantially differing from that in or to which the rights of the Holders of any other Series or part thereof are affected, then reference to such fact indicating each Series or part of a Series so especially affected shall be made in the notice of the meeting and the meeting shall be and be deemed to be and is herein referred to as a serial meeting.
Serial Meetings. If any business to be transacted at a meeting of Debentureholders, or any action to be taken or power to be exercised by instrument in writing under Section 9.15, especially affects the rights of the holders of Debentures of one or more series or maturities in a manner or to an extent substantially differing from that in or to which it affects the rights of the holders of Debentures of any other series or maturity (as to which an opinion of counsel shall be binding on all Debentureholders, the Trustee and the Corporation for all purposes hereof) then:
Serial Meetings. SUPPLEMENTAL INDENTURES 10.1 Provisions for Supplemental Indentures for Certain Purposes...........53
Serial Meetings. (1) If any business to be transacted at a meeting of Debentureholders, or any action to be taken or power to be exercised by instrument in writing under Section 11.15, especially affects the rights of the holders of Debentures of one or more series or maturities (and for the purposes of this Section 11.17, "series" shall be deemed, unless the context otherwise requires, to mean any series or maturity and also any part of a series or maturity) in a manner or to an extent substantially differing from that in or to which it affects the rights of the holders of Debentures of any other series (as to which an opinion of counsel, at the expense of the Bank, shall be binding on all Debentureholders, the Trustee and the Bank for all purposes hereof) then:
(a) reference to such fact, indicating each series so especially affected, shall be made in the notice of such meeting and the meeting shall be and be deemed to be and is herein called a "serial meeting"; and
(b) the holders of Debentures of such series so especially affected shall not be bound by any action taken at a serial meeting or by instruments in writing under Section 11.15 unless in addition to compliance with the other provisions of this Article:
(i) in the case of a serial meeting, reference to the fact that the business to be transacted at the meeting of Debentureholders especially affects the rights of the Debentureholders of the particular series is made in the notice of such meeting;
(ii) at such serial meeting:
(A) there are present in person or by proxy holders of at least 25% in principal amount of the outstanding Debentures of such series, subject to the provisions of this Article as to adjourned meetings; and
(B) the resolution is passed by the favourable votes of the holders of more than 50% (or in the case of an Extraordinary Resolution not less than 66 2/3%) in principal amount of Debentures of such series voted on the resolution; or
Serial Meetings. 52 Section 9.17 Binding Effect of Resolutions...............................53 Section 9.18 Regulations.................................................54
Serial Meetings. 53 ARTICLE 12
Serial Meetings. 54 ARTICLE FOURTEEN Supplemental Indentures 14.01 Execution of Supplemental Indentures ............................... 56 ARTICLE FIFTEEN Concerning the Trustee
