VARIATION OF CLASS RIGHTS. Without prejudice to Bye-Law 8 (c) the rights, privileges, limitations or restrictions attached to the Sterling Preference Stock (or any class thereof) may be varied, altered or abrogated, either whilst the Bank is a going concern or during or in contemplation of a winding up, with the written consent of the holders of not less than 75% in nominal value of such class of stock or with the sanction of a resolution passed at a class meeting of holders of such classes of stock provided that the holders of not less than 75% in nominal value of such class of stock in attendance and voting vote in favour of such resolution.
VARIATION OF CLASS RIGHTS. (a) Subject to clause 16.19(d), any proposed variation of the rights attaching to the Units in a Class of Units, which in the Trustee’s reasonable opinion (taking into account any submissions received by it under clause 16.19(e)) is adverse to the holders of those Units, is subject to approval by Unanimous Resolution of the holders of Units in that Class.
(b) Subject to clause 16.19(d), if the proposed variation of rights attaching to Units in a Class in the reasonable opinion of the Trustee (taking into account any submissions received by it under clause 16.19(e)) adversely affects the rights of holders of Units in another Class, the variation is also subject to approval by Unanimous Resolution of the holders of Units in that other Class.
(c) Any proposed resolution which affects the rights of Unit Holders generally and does not specifically affect the rights attaching to the Units of a particular Class requires only a Unanimous Resolution of Unit Holders without the need for a Unanimous Resolution of each Class.
(d) While the Unit Holders Deed is in force:
(i) any proposed variation of the rights attaching to the Preference Units (other than under clause 21.2) is subject to approval by Unanimous Resolution of the Preference Unit Holders; and
(ii) any proposed variation of the rights attaching to Units in any Class (other than under clause 21.2) which may in any way affect the rights or interests of Preference Unit Holders is subject to approval by Unanimous Resolution of the Preference Unit Holders.
(e) The Trustee must not vary the rights attaching to the Units in a Class of Units without the prior approval of the relevant holders of Units pursuant to clauses 16.19(a) or 16.19(b) unless the Trustee has previously notified all Unit Holders of the proposed variation and invited submissions as to whether the variation adversely affects the rights of holders of Units in any particular Class.
VARIATION OF CLASS RIGHTS. (a) The rights attached to any class of shares may, unless their terms of issue state otherwise, be varied by a special resolution passed at a separate meeting of the holders of shares of the class.
(b) The provisions of these articles relating to general meetings apply, with necessary changes, to separate class meetings as if they were general meetings.
(c) The rights conferred on the holders of any class of shares are to be taken as not having been varied by the creation or issue of further shares ranking ahead, after or pari passu with them, unless the terms of issue provide otherwise.
(d) The rights conferred upon the holders of ordinary shares are to be taken as not having been varied by the creation, issue, redemption or conversion of any preferred shares.
VARIATION OF CLASS RIGHTS. If at any time the number of shares which the Company is authorised to issue is divided into different classes of shares, the rights attached to any class (unless otherwise provided by the terms of issue of the shares of that class) shall whether or not the Company is being wound up, be varied by way of resolution or with the consent in writing of the holders of not less than 51% of the issued shares of that class and of the holders of not less than 30% of the issued shares of any other class of shares which may be affected by such variation.
VARIATION OF CLASS RIGHTS. Without prejudice to Bye-Law 8(a) the rights, privileges, limitations or restrictions attached to the 2005 Preference Stock (or any class thereof) may be varied, altered or abrogated, either whilst the Bank is a going concern or during or in contemplation of a winding up, with the written consent of holders of not less than 75% in nominal value of such class of stock or with the sanction of a resolution passed at a class meeting of holders of such class of stock provided that holders of not less than 75% in nominal value of such class of stock in attendance and voting vote in favour of such resolution.
(a) Whenever the capital of the Bank is divided into different classes of stock, the special rights attached to any class may, subject to the provisions of these Bye-Laws, be varied or abrogated, either whilst the Bank is a going concern or during or in contemplation of a winding up, with the sanction of a resolution passed at a class meeting of the holders of the stock of the class but not otherwise. Save as provided in Bye-Law 3(e), to every such class meeting, save as provided in Bye-Laws 4, 5 and 6, all the provisions of these Bye-Laws relating to General Courts of the Bank and to the proceedings thereat shall apply, mutatis mutandis, except that in respect of class meetings of the holders of Dollar Preference Stock, Sterling Preference Stock and euro Preference Stock (i) the necessary quorum shall be two persons holding or representing by proxy at least one third in nominal amount of the issued stock of the class and if at any adjourned meeting of such holders a quorum as above defined is not present, any member of such class who is present in person or by proxy shall be a quorum; (ii) on a poll each holder of Dollar Preference Stock shall, whether present in person or by proxy, have one vote in respect of each US$1 of Dollar Preference Stock held by him, each holder of Sterling Preference Stock shall, whether present in person or by proxy, have one vote in respect of each unit of Sterling Preference Stock held by him and each holder of euro Preference Stock shall, whether present in person or by proxy, have one vote in respect of each unit of euro Preference Stock held by him. Any holder of stock in the class in question present in person or by proxy at such meeting may demand a poll.
(b) Whenever the rights, privileges, limitations or restrictions attached to any particular Dollar Preference Stock in issue differ from the rights, privileges, limitatio...
VARIATION OF CLASS RIGHTS. If at any time the authorised capital is divided into different classes or series of shares, the rights attached to any class or series (unless otherwise provided by the terms of issue of the shares of that class or series) may, whether or not the Company is being wound up, be varied with the consent in writing of the holders of not less than a majority of the issued shares of that class or series and of the holders of not less than a majority of the issued shares of any other class or series of shares which may be affected by such variation.
VARIATION OF CLASS RIGHTS. Without prejudice to the authority conferred on the Directors pursuant to Article 23 to issue Preferred Shares in the capital of the Company, where the shares in the Company are divided into different classes, the rights attaching to a class of shares may only be varied or abrogated if (a) the holders of 75% in nominal value of the issued shares of that class consent in writing to the variation, or (b) a special resolution, passed at a separate general meeting of the holders of that class, sanctions the variation. The quorum at any such separate general meeting, other than an Adjourned Meeting, shall be two persons holding or representing by proxy at least one-third in nominal value of the issued shares of the class in question and the quorum at an Adjourned Meeting shall be one person holding or representing by proxy shares of the class in question or that person’s proxy. The rights conferred upon the holders of any class of shares issued with preferred or other rights shall not, unless otherwise expressly provided by the terms of issue of the shares of that class, be deemed to be varied by a purchase or redemption by the Company of its own shares or by the creation or issue of further shares ranking pari passu therewith or subordinate thereto.
VARIATION OF CLASS RIGHTS. Subject to the provisions of the Act and the other provisions of these Articles and without prejudice to the provisions of Articles 4.3 and 5.2, if at any time the share capital is divided into different classes of shares, the rights attached to any class of shares may, whether or not the Company is being wound up, be varied or abrogated:
VARIATION OF CLASS RIGHTS. 11.1 Whenever the share capital of the Company is divided into different classes of Shares, the special rights attached to any such class may only be varied or abrogated (either whilst the Company is a going concern or during or in contemplation of a winding up) with the consent in writing of the holders of at least two-thirds of the issued Shares of that class, save that the special rights attached to the Preferred Shares may only be varied or abrogated with Investor Consent.
VARIATION OF CLASS RIGHTS. 4.1 Whenever the share capital of the company is divided into different classes of shares, the special rights attached to any class may, subject to the provisions of the Statutes, be varied or abrogated in such manner (if any) as may be provided by such rights or, in the absence of any such provision, either with the consent in writing of the holders of three-fourths in nominal value of the issued shares of the class, or with the sanction of an extraordinary resolution passed at a separate general meeting of such holders (but not otherwise), and may be so varied or abrogated either whilst the company is a going concern or during or in contemplation of a winding-up.
4.2 Article 4.1 shall apply to the variation or abrogation of the special rights attached to some only of the shares of any class as if each group of shares of the class differently treated formed a separate class the special rights whereof are to be varied.
