Common use of Meetings of Holders of Preferred Securities Clause in Contracts

Meetings of Holders of Preferred Securities. (a) No annual meeting of Securityholders is required to be held. The Administrative Trustees, however, shall call a meeting of Securityholders to vote on any matter upon the written request of the Holders of at least 25% of the aggregate Liquidation Amount of the Outstanding Preferred Securities and may, at any time in their discretion, call a meeting of Holders of Preferred Securities to vote on any matters as to which the Holders of Preferred Securities are entitled to vote.

Appears in 3 contracts

Samples: Trust Agreement (Atlantic City Electric Co), Trust Agreement (Atlantic Capital Ii), Trust Agreement (Delmarva Power & Light Co /De/)

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Meetings of Holders of Preferred Securities. (a) No annual meeting of the Securityholders is required to be held. The Administrative Trustees, however, shall call a meeting of the Securityholders to vote on any matter in respect of which the Holders of Preferred Securities are entitled to vote upon the written request of the Holders of at least not less than twenty-five percent (25% of the aggregate %) in Liquidation Amount of the all Outstanding Preferred Securities Securities, and the Administrative Trustees or the Property Trustee may, at any time in their discretion, call a meeting of the Holders of Preferred Securities to vote on any matters as to which the such Holders of Preferred Securities are entitled to vote.

Appears in 2 contracts

Samples: Trust Agreement (Abc Bancorp Capital Trust I), Trust Agreement (Abc Bancorp Capital Trust I)

Meetings of Holders of Preferred Securities. (a) No annual meeting of Securityholders is required to be held. The Administrative Trustees, however, shall call a meeting of Securityholders to vote on any matter upon the written request of the Holders of at least not less than 25% of the aggregate Liquidation Amount of the Outstanding Preferred Securities (based upon their aggregate Liquidation Amount), and the Administrative Trustees or the Property Trustee may, at any time in their discretion, call a meeting of Holders of Preferred Securities to vote on any matters as to which the such Holders of Preferred Securities are entitled to vote.

Appears in 1 contract

Samples: Trust Agreement (Nextel Communications Inc)

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Meetings of Holders of Preferred Securities. (a) No annual meeting of Securityholders is required to be held. The Administrative Trustees, however, shall call a meeting of Securityholders to vote on any matter in respect of which Holders of Preferred Securities are entitled to vote upon the written request of the Holders of at least not less than 25% of the aggregate Liquidation Amount of the Outstanding Preferred Securities (based upon their aggregate Liquidation Amount) and the Administrative Trustees or the Property Trustee may, at any time in their discretion, call a meeting of Holders of Preferred Securities to vote on any matters as to which the Holders of Preferred Securities such Securityholders are entitled to vote.

Appears in 1 contract

Samples: Trust Agreement (Greater Atlantic Financial Corp)

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