Voting rules. (a) Each VPS Noteholder (or person acting for a VPS Noteholder under a power of attorney) may cast one vote for each Voting VPS Note owned on the Relevant Record Date, ref. Clause 3.3 (VPS Noteholders’ rights). The Chairman may, in its sole discretion, decide on accepted evidence of ownership of Voting VPS Notes.
(b) Issuer's VPS Notes shall not carry any voting rights. The Chairman shall determine any question concerning whether any VPS Notes will be considered Issuer's VPS Notes.
(c) For the purposes of this Clause 4 (VPS Noteholders’ decisions), the holder of a VPS Note will be the person evidenced as such by a book entry in the records of the VPS. Where a nominee is so evidenced, it shall be deemed to be the owner of the relevant VPS Notes, unless the beneficial owner of the VPS Notes has proven its ownership of the VPS Notes in accordance with Clause 3.3 (VPS Noteholders’ rights). If such VPS Noteholder has proven its ownership in accordance with Clause 3.3 (VPS Noteholders’ rights) and voted directly for any of its nominee registered VPS Notes, the VPS Noteholder’s votes shall take precedence over any votes submitted by the nominee for the same VPS Notes.
(d) Any of the Issuer, the VPS Trustee and any VPS Noteholder has the right to demand a vote by ballot. In case of parity of votes, the Chairman will have the deciding vote.
Voting rules. (a) Each Bondholder (or person acting for a Bondholder under a power of attorney) may cast one (1) vote for each Voting Bond owned on the Relevant Record Date, ref. Clause
Voting rules. Each member of the Project Co-ordination Committee shall have one (1) vote and decisions shall be taken upon a simple majority of members present or represented. All of the members of the Project Co-ordination Committee shall have a deputy in case they cannot attend the meetings of the PCC.
Voting rules. 3.1 Unless otherwise specified in this Agreement, each Member casts vote in accordance with the Participating interest of his Party.
3.2 Unless otherwise specified in this Agreement, a decision by the management committee is adopted when at least y of the Members representing at least x % of the Participating interests have voted in favour of a proposal, [provided, however, that {one or more individualized company(ies)/public entity(ies)} do not constitute a quorum.] [The Manager shall not be party to information nor exercise any voting rights on decisions regarding sources of procurement to the activities. When calculating the individual Party's proportional voting right when voting over sources of procurement, the Manager's voting right shall be distributed among the other Parties in proportion to their Participating interests so that the total voting rights in such cases are distributed as follows: X ……..% Y ……..% Z ……..% In such cases, a decision is adopted by the management committee when at least y' of these Parties representing at least x' % of the Participating interest have voted in favour of the proposal.] The management committee shall make no decision which could render an unreasonable advantage to certain Parties or others to the detriment of other Parties or the joint venture.
3.3 [The State or the Manager may oppose a decision by the management committee which would not respect the conditions and requirements, specified in this Production Licence, regarding the State's depletion policies or the State's financial interests. If the Manager's Member in the management committee declares that an adopted decision is of a nature as described in paragraph one, such decision cannot be executed. If the matter is not brought before the Ministry of Petroleum and Energy (“the Ministry”) within 4 weeks after the day of adoption, the decision may nevertheless be executed.]
3.4 Matters concerning the relinquishment of acreage within the licence area or surrender of the Production Licence require a unanimous decision by the management committee.
3.5 In case of changes in the joint venture, be it a change in the number of participants or of the Participating interests, the joint venture shall propose new voting rules. The voting rules are subject to the Ministry's approval. If the joint venture does not submit any proposal, the Ministry may determine new voting rules for the joint venture. The new voting rules shall be formulated so as to influence each Party...
Voting rules. A decision is adopted by a two-thirds (2/3) majority. The Steering Committee has a quorum when two-thirds (2/3) of the members are present at the meeting or take part in an electronic vote, either personally or represented by a proxy. In matters which substantially alter the individual Participant’s rights and obligations under the Project, the decision must be adopted unanimously. Such decisions require all members of the Steering Committee to take part in the vote. Amendment of the Collaboration Agreement and the adoption of annual budgets require the unanimous approval of the Participants. The members of the Steering Committee have one vote each. A Participant is not entitled to vote on a matter regarding its own breach of the Collaboration Agreement and the consequences thereof.
Voting rules. 12.9.1. The rules below set forth the principle voting rules for adopting decisions of the MCSC and the HLM. These voting rules are further detailed and supplemented by Exhibit 10 (Rules of Internal Order) and Exhibit 20 (Statistical data to be used for the calculation of the voting share). OPSCOM, Incident Committee and any other body created by the MCSC pursuant to Article 12.3 entitled to take decisions, shall always decide by unanimity without applying Articles 12.9.2. to 12.9.5.
12.9.2. When deciding by unanimity, all Voting Members from NEMOs shall collectively have one (1) vote (the “NEMO Vote”), and all Voting Members from TSOs shall collectively have one (1) vote (the “TSO Vote”), as further detailed in article II.3 of Exhibit 10 (Rules of Internal Order).
12.9.3. Operational Decisions will be adopted with unanimity of NEMO Vote and TSO Vote, in accordance with the provisions of Exhibit 10 (Rules of Internal Order.
12.9.4. Governance and Development Decisions are also subject to unanimity of NEMO Vote and TSO Vote, in accordance with the provisions of Exhibit 10 (Rules of Internal Order). If i) unanimity of NEMO Vote and TSO Vote cannot be achieved, ii) the point is discussed in the meeting and iii) a new proposal of decision is made following such discussion, then such new proposal of decision shall be again subject to unanimity of NEMO Vote and TSO Vote.
i) if the following thresholds, calculated applying Exhibit 20 (Statistical data to be used for the calculation of the voting share), are cumulatively met:
a) TSOs and XXXXx representing together at least 55% of all EU Member States falling under CACM, Norway and Northern Ireland (hereinafter referred to as “Member States”) approve the proposed decision; and
b) TSOs and XXXXx representing together Member States comprising at least 65% of the population of the Member States approve the proposed decision;
ii) if the QMV thresholds under i) are not met, the QMV shall nevertheless be deemed attained if there is no blocking minority pursuant to article II.3.5.2.2 of Exhibit 10 (Rules of Internal Order). For the avoidance of any doubt, it is understood that :
4 i) have been achieved the decision is considered taken (even if there is a blocking minority);
4 i) have not been achieved and there is a blocking minority, the proposed decision is considered rejected; • If the QMV thresholds set under 12.9.4 i) have not been achieved and there is no blocking minority, the proposed decision is considered taken...
Voting rules. 6.3.1. Each Bondholder (or person acting for a Bondholder under a power of attorney) may cast one vote for each Voting Bond owned on the Relevant Record Date, ref. Clause 5.3 (Bondholders’ rights). The Chairperson may, in its sole discretion, decide on accepted evidence of ownership of Voting Bonds.
6.3.2. Issuer’s Bonds shall not carry any voting rights, unless 100% of the Outstanding Bonds are held by companies in the Banco Santander Group. The Chairperson shall determine any question concerning whether any Bonds will be considered Issuer’s Bonds.
6.3.3. For the purposes of this Clause 6, a Bondholder that has a Bond registered in the name of a nominee will, in accordance with Clause 5.3 (Bondholders’ rights), be deemed to be the owner of the Bond rather than the nominee. No vote may be cast by any nominee if the Bondholder has presented relevant evidence to the Bond Trustee pursuant to Clause 5.3 (Bondholders’ rights) stating that it is the owner of the Bonds voted for. If the Bondholder has voted directly for any of its nominee registered Bonds, the Bondholder’s votes shall take precedence over votes submitted by the nominee for the same Bonds.
6.3.4. Any of the Issuer, the Bond Trustee and any Bondholder has the right to demand a vote by ballot. In case of parity of votes, the Chairperson will have the deciding vote.
Voting rules. Decisions are adopted on a simple majority of its members present or represented.
Voting rules. Decisions are adopted on a unanimous basis of its members present or represented.
Voting rules. Each Consortium Body shall not deliberate and decide validly unless two-thirds (2/3) of its Members are present or represented (quorum). Each member of a Consortium Body present or represented in the meeting shall have one vote. Defaulting Parties may not vote. Decisions shall be taken by a majority of two-thirds (2/3) of the votes. A Party which can show that its own work, time for performance, costs, liabilities, intellectual property rights or other legitimate interests would be severely affected by a decision of a Consortium Body may exercise a veto with respect to the corresponding decision or relevant part of the decision. When the decision is foreseen on the original agenda, a Member may veto such a decision during the meeting only. When a decision has been taken on a new item added to the agenda before or during the meeting, a Member may veto such decision during the meeting and within 15 days after the draft minutes of the meeting are sent. When a decision has been taken on a new item added to the agenda before or during the meeting, a Member may veto such decision during the meeting and within 15 days after the draft minutes of the meeting are sent. In case of exercise of veto, the Members of the related Consortium Body shall make every effort to resolve the matter which occasioned the veto to the general satisfaction of all its Members. A Party may not veto decisions relating to its identification as a Defaulting Party. The Defaulting Party may not veto decisions relating to its participation and termination in the Consortium or the consequences of them. A Party requesting to leave the Consortium may not veto decisions relating thereto.
