Common use of Voting rules Clause in Contracts

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.