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. (b) Upon receipt of notice of any meeting at which the Holders of Preferred Securities are entitled to vote, the Trustee shall, as soon as practicable thereafter, mail to the Holders of Receipts a notice, which shall be provided by the General Partner and which shall contain (i) such information as is contained in such notice of meeting, (ii) a statement that the Holders of Receipts at the close of business on a specified record date fixed pursuant to Section 4.04 will be entitled, subject to any applicable provision of law or of the Partnership Agreement, to instruct the Trustee as to the exercise of the voting rights pertaining to the amount of Preferred Securities represented by their respective Receipts, and (iii) a brief statement as to the manner in which such instructions may be given. Upon the written request of a Holder of a Receipt on such record date, the Trustee shall vote or cause to be voted the number of Preferred Securities represented by the Receipts evidenced by such Receipt in accordance with the instructions set forth in such request. The Grantor hereby agrees to take all reasonable action that may be deemed necessary by the Trustee in order to enable the Trustee to vote such Preferred Securities or cause such Preferred Securities to be voted. In the absence of specific instructions from the Holder of a Receipt, the Trustee will abstain from voting to the extent of the Preferred Securities represented by such Receipt.
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Samples: Trust Agreement (Peco Energy Co), Trust Agreement (Peco Energy Co), Trust Agreement (Peco Energy Capital Trust Ii)
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.
(b) Upon receipt of notice of any meeting at which the Holders of Preferred Securities are entitled to vote, the Trustee shall, as soon as practicable thereafter, mail to the Holders of Receipts Capital Securities a notice, which shall be provided by the General Partner and which shall contain (i) such information as is contained in such notice of meeting, (ii) a statement that the Holders of Receipts Capital Securities at the close of business on a specified record date fixed pursuant to Section 4.04 will be entitled, subject to any applicable provision of law or of the Partnership Agreement, to instruct the Trustee as to the exercise of the voting rights pertaining to the amount of Preferred Securities represented by their respective ReceiptsCapital Securities, and (iii) a brief statement as to the manner in which such instructions may be given. Upon the written request of a Holder of a Receipt Capital Security on such record date, the Trustee shall vote or cause to be voted the number of Preferred Securities represented by the Receipts Capital Securities evidenced by such Receipt Capital Security in accordance with the instructions set forth in such request. The Grantor hereby agrees to take all reasonable action that may be deemed necessary by the Trustee in order to enable the Trustee to vote such Preferred Securities or cause such Preferred Securities to be voted. In the absence of specific instructions from the Holder of a ReceiptCapital Security, the Trustee will abstain from voting to the extent of the Preferred Securities represented by such ReceiptCapital Security.
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), 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) ), shall convene such meeting.
(b) Upon receipt of notice of any meeting at which the Holders of Preferred Securities are entitled to vote, the Property Trustee shall, as soon as practicable thereafter, mail to the Holders of Receipts Trust Securities a notice, which shall be provided by the General Partner and which shall contain (i) such information as is contained in such notice of meeting, (ii) a statement that the Holders of Receipts Trust Securities at the close of business on a specified record date fixed pursuant to Section 4.04 6.4 will be entitled, subject to any applicable provision of law or of the Partnership Agreement, to instruct the Property Trustee as to the exercise of the voting rights pertaining to the amount of Preferred Securities represented by their respective ReceiptsTrust Securities, and (iii) a brief statement as to the manner in which such instructions may be given. Upon the written request of a Holder of a Receipt Trust Security on such record date, the Property Trustee shall vote or cause to be voted the number of Preferred Securities represented by the Receipts evidenced by such Receipt Trust Security in accordance with the instructions set forth in such request. The Grantor hereby agrees to take all reasonable action that may be deemed necessary by the Property Trustee in order to enable the Property Trustee to vote such Preferred Securities or cause such Preferred Securities to be voted. In the absence of specific instructions from the Holder of a ReceiptTrust Security, the Property Trustee will abstain from voting to the extent of the Preferred Securities represented by such ReceiptTrust Security.
Appears in 2 contracts
Samples: Trust Agreement (Met Ed Capital Trust), Trust Agreement (Penelec Capital Trust)
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.
(b) Upon receipt of notice of any meeting at which the Holders holders of Preferred Securities are entitled to vote, the Property Trustee shall, as soon as practicable thereafter, mail to the Holders of Receipts Trust Securities a notice, which shall be provided by the General Partner and which shall contain (i) such information as is contained in such notice of meeting, (ii) a statement that the Holders of Receipts Trust Securities at the close of business on a specified record date fixed pursuant to Section 4.04 6.4 30 will be entitled, subject to any applicable provision of law or of the Partnership Agreement, to instruct the Property Trustee as to the exercise of the voting rights pertaining to the amount of Preferred Securities represented by their respective ReceiptsTrust Securities, and (iii) a brief statement as to the manner in which such instructions may be given. Upon the written request of a Holder of a Receipt Trust Security on such record date, the Property Trustee shall vote or cause to be voted the number of Preferred Securities represented by the Receipts evidenced by such Receipt Trust Securities in accordance with the instructions set forth in such request. The Grantor hereby agrees to take all reasonable action that may be deemed necessary by the Property Trustee in order to enable the Property Trustee to vote such Preferred Securities or cause such Preferred Securities to be voted. In the absence of specific instructions from the Holder of a ReceiptTrust Security, the Property Trustee will abstain from voting to the extent of the Preferred Securities represented by such ReceiptTrust Security.
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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.
(b) Upon receipt of notice of any meeting at which the Holders of Preferred Securities are entitled to vote, the Trustee shall, as soon as practicable thereafter, mail to the Holders of Receipts a notice, which shall be provided by the General Partner and which shall contain (i) such information as is contained in such notice of meeting, (ii) a statement that the Holders of Receipts at the close of business on a specified record date fixed pursuant to Section 4.04 will be entitled, subject to any applicable provision of law or of the Partnership Agreement, to instruct the Trustee as to the exercise of the voting rights pertaining to the amount of Preferred Securities represented by their respective Receipts, and (iii) a brief statement as to the manner in which such instructions may be given. Upon the written request of a Holder of a Receipt on such record date, the Trustee shall vote or cause to be voted the number of Preferred Securities represented by the Receipts evidenced by such Receipt in accordance with the instructions set forth in such request. The Grantor hereby agrees to take all reasonable action that may be deemed necessary by the Trustee in order to enable the Trustee to vote such Preferred Securities or cause such Preferred Securities to be voted. In the absence of specific instructions from the Holder of a Receipt, the Trustee will abstain from voting to the extent of the Preferred Securities represented by such Receipt.
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Samples: 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.
(b) Upon receipt of notice of any meeting at which the Holders holders of Preferred Securities are entitled to vote, the Property Trustee shall, as soon as practicable thereafter, mail to the Holders of Receipts Trust Securities a notice, which shall be provided by the General Partner and which shall contain (i) such information as is contained in such notice of meeting, (ii) a statement that the Holders of Receipts Trust Securities at the close of business on a specified record date fixed pursuant to Section 4.04 6.4 will be entitled, subject to any applicable provision of law or of the Partnership Agreement, to instruct the Property Trustee as to the exercise of the voting rights pertaining to the amount of Preferred Securities represented by their respective ReceiptsTrust Securities, and (iii) a brief statement as to the manner in which such instructions may be given. Upon the written request of a Holder of a Receipt Trust Security on such record date, the Property Trustee shall vote or cause to be voted the number of Preferred Securities represented by the Receipts evidenced by such Receipt Trust Securities in accordance with the instructions set forth in such request. The Grantor hereby agrees to take all reasonable action that may be deemed necessary by the Property Trustee in order to enable the Property Trustee to vote such Preferred Securities or cause such Preferred Securities to be voted. In the absence of specific instructions from the Holder of a ReceiptTrust Security, the Property Trustee will abstain from voting to the extent of the Preferred Securities represented by such ReceiptTrust Security.
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