Common use of Special Representative and Voting Rights Clause in Contracts

Special Representative and Voting Rights. (a) If the holders of the Preferred Partner Interests (as defined in the Partnership Agreement), acting as a single class, are entitled to appoint and authorize a Special Representative pursuant to Section 13.02(d) of the Partnership Agreement, the Trustee shall notify the Holders of the Receipts of such right, request direction of each Holder of a Receipt as to the appointment of a Special Representative and vote the Preferred Securities represented by such Receipt in accordance with such direction. If the General Partner fails to convene a general meeting of the Partnership as required in Section 13.02(d) of the Partnership Agreement, the Trustee shall notify the Holders of the Receipts and, if so directed by the Holders of Receipts representing Preferred Securities constituting at least 10% of the aggregate stated liquidation preference of the outstanding Preferred Partner Interests (as defined in the Partnership Agreement) shall convene such meeting.

Appears in 3 contracts

Samples: Trust Agreement (Peco Energy Capital Trust Ii), Trust Agreement (Peco Energy Co), Trust Agreement (Peco Energy Co)

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Special Representative and Voting Rights. (a) If the holders of the Preferred Partner Interests (as defined in the Partnership Agreement), acting as a single class, are entitled to appoint and authorize a Special Representative pursuant to Section 13.02(d) of the Partnership Agreement, the Trustee shall notify the Holders of the Receipts Capital Securities of such right, request direction of each Holder of a Receipt Capital Security as to the appointment of a Special Representative and vote the Preferred Securities represented by such Receipt Capital Security in accordance with such direction. If the General Partner fails to convene a general meeting of the Partnership as required in Section 13.02(d) of the Partnership Agreement, the Trustee shall notify the Holders of the Receipts Capital Securities and, if so directed by the Holders of Receipts Capital Securities representing Preferred Securities constituting at least 10% of the aggregate stated liquidation preference of the outstanding Preferred Partner Interests (as defined in the Partnership Agreement) shall convene such meeting.

Appears in 2 contracts

Samples: Trust Agreement (Peco Energy Capital Trust Iii), Trust Agreement (Peco Energy Co)

Special Representative and Voting Rights. (a) If the holders of the Preferred Partner Interests (as defined in the Partnership Agreement)Securities, acting as a single class, are entitled to appoint and authorize a Special Representative pursuant to Section 13.02(d) of the Partnership Agreement, upon written notice from the Partnership, the Property Trustee shall notify the Holders of the Receipts Trust Securities of such right, request direction of each Holder of a Receipt Trust Security as to the appointment of a Special Representative and vote the Preferred Securities represented by such Receipt Trust Security in accordance with such direction. If the General Partner fails to convene a general meeting of the Partnership as required in Section 13.02(d) of the Partnership Agreement, upon written notice of the Partnership, the Property Trustee shall notify the Holders of the Receipts Trust Securities and, if so directed by the Holders of Receipts Trust Securities representing Preferred Securities constituting at least 10% of the aggregate stated liquidation preference of the outstanding Preferred Partner Interests (as defined in the Partnership Agreement) Securities, shall convene such meeting.

Appears in 2 contracts

Samples: Trust Agreement (Metropolitan Edison Co), Trust Agreement (Pennsylvania Electric Co)

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Special Representative and Voting Rights. (a) If the holders of the Preferred Partner Interests (as defined in the Partnership Agreement), acting as a single class, are entitled to appoint and authorize a Special Representative pursuant to Section 13.02(d) of the Partnership Agreement, the Trustee shall notify the Holders of the Receipts of such right, request direction of each Holder of a Receipt as to the appointment of a Special Representative and vote the Preferred Securities represented by such Receipt in accordance with such direction. If the General Partner fails to convene a general meeting of the Partnership as required in Section 13.02(d) of the Partnership Agreement, the Trustee shall notify the Holders of the Receipts and, if so directed by the Holders of Receipts representing Preferred Securities constituting at least 10% of the aggregate aggregated stated liquidation preference of the outstanding Preferred Partner Interests (as defined in the Partnership Agreement) shall convene such meeting.

Appears in 2 contracts

Samples: Trust Agreement (Peco Energy Capital Trust I), Trust Agreement (Peco Energy Co)

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