Common use of AMENDMENT AND APPROVAL Clause in Contracts

AMENDMENT AND APPROVAL. 11.1 The rights, privileges, restrictions and conditions attaching to the Class B Preferred Shares may be added to, changed or removed but, except as hereinafter provided, only with the approval of the Required Holders of the Class B Preferred Shares given as hereinafter specified. 11.2 Any approval given by the holders of the Class B Preferred Shares to add to, change or remove any right, privilege, restriction or condition attaching to the Class B Preferred Shares or any other matter requiring the approval or consent of the holders of the Class B Preferred Shares under applicable law shall be deemed to have been sufficiently given if it shall have been given in accordance with applicable law subject to a minimum requirement that such approval be evidenced by a resolution passed by the Required Holders by instrument in writing or by Persons represented in person or by proxy at a meeting of holders of Class B Preferred Shares (excluding Class B Preferred Shares beneficially owned by Putco, Pubco, IPF or any of their respective Subsidiaries) duly called and held at which the holders of at least 75% of the outstanding Class B Preferred Shares at that time are present or represented by proxy.

AMENDMENT AND APPROVAL. 11.1 The rights, privileges, restrictions and conditions attaching to the Class B A Preferred Shares may be added to, changed or removed but, except as hereinafter provided, only with the approval of the Required Holders of the Class B A Preferred Shares given as hereinafter specified. 11.2 Any approval given by the holders of the Class B A Preferred Shares to add to, change or remove any right, privilege, restriction or condition attaching to the Class B A Preferred Shares or any other matter requiring the approval or consent of the holders of the Class B A Preferred Shares under applicable law shall be deemed to have been sufficiently given if it shall have been given in accordance with applicable law subject to a minimum requirement that such approval be evidenced by a resolution passed by the Required Holders by instrument in writing or by Persons represented in person or by proxy at a meeting of holders of Class B A Preferred Shares (excluding Class B A Preferred Shares beneficially owned by Putco, Pubco, IPF or any of their respective Subsidiaries) duly called and held at which the holders of at least 75% of the outstanding Class B A Preferred Shares at that time are present or represented by proxy.