Template:OSLA 1995 4(b)(vi): Difference between revisions
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{{oslaprov|4(B)(vi)}} Each {{oslaprov|Party}} undertakes that where it holds {{oslaprov|Securities}} of the same description as any {{oslaprov|Securities}} borrowed by it or transferred to it by way of {{oslaprov|Collateral}} at a time when a right to vote arises in respect of such {{oslaprov|Securities}}, it will use its best endeavours to arrange for the voting rights attached to such {{oslaprov|Securities}} to be exercised in accordance with the instructions of the {{oslaprov|Lender}} or {{oslaprov|Borrower}} (as the case may be) PROVIDED ALWAYS THAT each {{oslaprov|Party}} shall use its best endeavours to notify the other of its instructions in writing no later than seven {{oslaprov|Business Day}}s prior to the date upon which such votes are exercisable or as otherwise agreed between the {{oslaprov|Parties}} and that the {{oslaprov|Party}} concerned shall not be obliged so to exercise the votes in respect of a number of {{oslaprov|Securities}} greater than the number so lent or transferred to it. [[For the avoidance of doubt]] the {{oslaprov|Parties}} agree that subject as hereinbefore provided any voting rights attaching to the relevant {{oslaprov|Securities}}, {{oslaprov|Equivalent Securities}}, {{oslaprov|Collateral}} [[and/or]] {{oslaprov|Equivalent Collateral}} shall be exercisable by the persons in whose name they are registered or in the case of {{oslaprov|Securities}}, {{oslaprov|Equivalent Securities}}, {{oslaprov|Collateral}} [[and/or]] {{oslaprov|Equivalent Collateral}} in bearer form, the persons by or on behalf of whom they are held, and not necessarily by the {{oslaprov|Borrower}} or the {{oslaprov|Lender}} ([[as the case may be]]). | {{oslaprov|4(B)(vi)}} Each {{oslaprov|Party}} undertakes that where it holds {{oslaprov|Securities}} of the same description as any {{oslaprov|Securities}} borrowed by it or transferred to it by way of {{oslaprov|Collateral}} at a time when a right to vote arises in respect of such {{oslaprov|Securities}}, it will use its best endeavours to arrange for the voting rights attached to such {{oslaprov|Securities}} to be exercised in accordance with the instructions of the {{oslaprov|Lender}} or {{oslaprov|Borrower}} (as the case may be) '''PROVIDED ALWAYS THAT''' each {{oslaprov|Party}} shall use its best endeavours to notify the other of its instructions in writing no later than seven {{oslaprov|Business Day}}s prior to the date upon which such votes are exercisable or as otherwise agreed between the {{oslaprov|Parties}} and that the {{oslaprov|Party}} concerned shall not be obliged so to exercise the votes in respect of a number of {{oslaprov|Securities}} greater than the number so lent or transferred to it. [[For the avoidance of doubt]] the {{oslaprov|Parties}} agree that subject as hereinbefore provided any {{oslaprov|voting rights}} attaching to the relevant {{oslaprov|Securities}}, {{oslaprov|Equivalent Securities}}, {{oslaprov|Collateral}} [[and/or]] {{oslaprov|Equivalent Collateral}} shall be exercisable by the persons in whose name they are registered or in the case of {{oslaprov|Securities}}, {{oslaprov|Equivalent Securities}}, {{oslaprov|Collateral}} [[and/or]] {{oslaprov|Equivalent Collateral}} in [[bearer security|bearer]] form, the persons by or on behalf of whom they are held, and not necessarily by the {{oslaprov|Borrower}} or the {{oslaprov|Lender}} ([[as the case may be]]). | ||
Latest revision as of 14:22, 27 November 2019
4(B)(vi) Each Party undertakes that where it holds Securities of the same description as any Securities borrowed by it or transferred to it by way of Collateral at a time when a right to vote arises in respect of such Securities, it will use its best endeavours to arrange for the voting rights attached to such Securities to be exercised in accordance with the instructions of the Lender or Borrower (as the case may be) PROVIDED ALWAYS THAT each Party shall use its best endeavours to notify the other of its instructions in writing no later than seven Business Days prior to the date upon which such votes are exercisable or as otherwise agreed between the Parties and that the Party concerned shall not be obliged so to exercise the votes in respect of a number of Securities greater than the number so lent or transferred to it. For the avoidance of doubt the Parties agree that subject as hereinbefore provided any voting rights attaching to the relevant Securities, Equivalent Securities, Collateral and/or Equivalent Collateral shall be exercisable by the persons in whose name they are registered or in the case of Securities, Equivalent Securities, Collateral and/or Equivalent Collateral in bearer form, the persons by or on behalf of whom they are held, and not necessarily by the Borrower or the Lender (as the case may be).