Programme Resolution definition

Programme Resolution has the meaning given to it in Condition 13 (Meetings of Covered Bondholders, Modification, Waiver and Substitution);

Programme Resolution means either:

Programme Resolution means an Extraordinary Resolution passed at a single meeting of the Covered Bondholders of all Series, duly convened and held in accordance with the provisions contained in these Rules (ii) to direct the Representative of the Covered Bondholders to take action pursuant to Condition 12(b)(ii)(c) (Effect of an Issuer Default Notice – Covered Bond Guarantee), Condition 12(c)(iii) (Guarantor Event of Default – Breach of other obligation) or Condition 12(d)(iv) (Guarantor Event of Default – Enforcement) or to appoint or remove the Representative of the Covered Bondholders pursuant to Article 26 (Appointment, Removal and Remuneration); or (ii) to direct the Representative of the Covered Bondholders to take other action stipulated in the Conditions or the Transaction Documents as requiring a Programme Resolution.

Examples of Programme Resolution in a sentence

The quorum at any such meeting for passing a Programme Resolution is one or more persons holding or representing at least a clear majority of the aggregate Principal Amount Outstanding of the Covered Bonds of all Series for the time being outstanding or at any adjourned such meeting one or more persons holding or representing Covered Bonds whatever the nominal amount of the Covered Bonds of any Series so held or represented.
Any such meeting to consider a Programme Resolution may be convened by the Issuer, the Guarantor or the Bond Trustee or by holders of the Covered Bonds of any Series.
A Programme Resolution passed at any meeting of the holders of the Covered Bonds of all Series shall be binding on all holders of the Covered Bonds of all Series, whether or not they are present at the meeting, and on all related Receiptholders and Couponholders in respect of such Series of Covered Bonds.
Any such meeting to consider a Programme Resolution may be convened by the Issuer, the CBC or the Security Trustee or by Covered Bondholders of any Series.
A Programme Resolution passed at any meeting of the Covered Bondholders of all Series shall be binding on all Covered Bondholders of all Series, whether or not they are present at the meeting, and on all related Receiptholders and Couponholders in respect of such Covered Bonds.

Programme Resolution. ’ means any Resolution directing the Common Representative to accelerate the Covered Bonds pursuant to Condition 9 (Insolvency Event and Enforcement) or directing the Common Representative to take any enforcement action and which shall only be capable of being passed at a single meeting of the holders of Covered Bonds of all Series then outstanding.

Programme Resolution means either: a written resolution of the holders of not less than fifty (50) per cent. of the Principal Amount Outstanding of the Covered Bonds then outstanding as if they were a single Series; or an Extraordinary Resolution (with the Covered Bonds of all Series taken together as a single Series);

Programme Resolution means an extraordinary resolution passed at a single meeting of the Bondholders of all Series, held in accordance with the provisions contained in Rules.

Programme Resolution has the meaning ascribed to it in Schedule 1 to the Trust Deed.