Common use of Programme Resolution Clause in Contracts

Programme Resolution. Notwithstanding the provisions of CONDITION 11.1, any Extraordinary Resolution of the Noteholders of any Class to direct the Note Trustee to give a Note Acceleration Notice pursuant to CONDITION 9 or take any enforcement action or instruct the Master Issuer Security Trustee to enforce the Master Issuer Security pursuant to and CONDITION 10 (a PROGRAMME RESOLUTION) shall only be capable of being passed at a single meeting of the Noteholders of all Series of such Class of Notes. The quorum at any such meeting for passing a Programme Resolution shall be one or more persons holding or representing not less than 50% of the aggregate Principal Amount Outstanding of the Notes of such Class or, at any adjourned and reconvened meeting, one or more persons being or representing Noteholders of such Class of Notes, whatever the aggregate Principal Amount Outstanding of such Class of Notes so held or represented by them.