Common use of VARIATION OF CLASS RIGHTS Clause in Contracts

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) 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.16.19

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.pursuant