Common use of Voting Rights with Respect to Underlying Securities Clause in Contracts

Voting Rights with Respect to Underlying Securities. (a) Within three Business Days after receipt of notice of any meeting of, or other occasion for the exercise of voting rights or the giving of consents by, owners of any of the Underlying Securities, the Trustee shall give notice to the Unitholders, setting forth (i) such information as is contained in such notice to owners of Underlying Securities, (ii) a statement that the Unitholders will be entitled, subject to any applicable provision of law, any applicable terms of such Underlying Securities and any applicable provisions of the Trust Agreement (and to the extent of the voting rights allocated to the Unitholders), to instruct the Trustee as to the exercise of voting rights, if any, pertaining to such Underlying Securities and (iii) a statement as to the manner in which instructions may be given to the Trustee to give a discretionary proxy to a person designated in the notice received by the Trustee. Such notice shall be given by the Trustee to the Unitholders of record on such record date.

Appears in 6 contracts

Samples: Structured Asset Trust (MS Structured Asset Corp), Structured Asset Trust (MS Structured Asset Corp), Trust Agreement (MS Structured Asset Corp)

AutoNDA by SimpleDocs

Voting Rights with Respect to Underlying Securities. (a) Within three five Business Days after receipt of notice of any meeting of, or other occasion for the exercise of voting rights or the giving of consents by, owners of any of the Underlying Securities, the Trustee shall give notice to the UnitholdersHolders, setting forth (i) such information as is contained in such notice to owners of Underlying Securities, (ii) a statement that the Unitholders Holders will be entitled, subject to any applicable provision of law, law and any applicable terms of such Underlying Securities and any applicable provisions of the Trust Agreement (and to the extent of the voting rights allocated to the UnitholdersHolders), to instruct the Trustee as to the exercise of voting rights, if any, pertaining to such Underlying Securities and (iii) a statement as to the manner in which instructions may be given to the Trustee to give a discretionary proxy to a person designated in the notice received by the Trustee. Such notice shall be given by the Trustee to the Unitholders Holders of record on such record date.

Appears in 3 contracts

Samples: Trust Agreement (Comcertz Abs Corp), Trust Agreement (Comcertz Abs Corp), Comcertz Abs Corp

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.