Examples of Written Procedure in a sentence
Subject to Clause21.4(f), each of the Agent and the Security Agent may resign by giving notice to the Issuer and the Bondholders, in which case the Bondholders shall appoint a successor Agent and/or the Security Agent at a Bondholders’ Meeting convened by the retiring Agent or by way of Written Procedure initiated by the retiring Agent.
The Agent may refrain from convening a Bondholders’ Meeting or instigating a Written Procedure if (i) the suggested decision must be approved by any Person in addition to the Bondholders and such Person has informed the Agent that an approval will not be given, or (ii) the suggested decision is not in accordance with applicable regulations.
No quorum requirement will apply to such second Written Procedure.
Nonetheless, Bondholders are strongly encouraged to give notice to the Agent with the requested information as soon as possible after the Written Procedure has been finalised.
An amendment to the Finance Documents shall take effect on the date determined by the Bondholders Meeting, in the Written Procedure or by the Agent, as the case may be.