Vorarlberger Landes- und Hypothekenbank Aktiengesellschaft
Vorarlberger Landes- und Hypothekenbank Aktiengesellschaft
Vorarlberger Landes- und Hypothekenbank Aktiengesellschaft
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which no quorum will be required, provided that where a resolution may only be adopted by a qualified<br />
majority, a quorum requires the presence of at least 25%. of the aggregate principal amount of outstanding<br />
Notes.<br />
All resolutions adopted must be properly published. In the case of Notes represented by one or more<br />
Global Notes, resolutions which amend or supplement the Terms and Conditions have to be implemented<br />
by supplementing or amending the relevant Global Note(s).<br />
In insolvency proceedings instituted in the Federal Republic of Germany against an Issuer, a Holders'<br />
Representative, if appointed, is obliged and exclusively entitled to assert the Holders' rights <strong>und</strong>er the<br />
Notes. Any resolutions passed by the Holders are subject to the provisions of the Insolvency Code<br />
(Insolvenzordnung).<br />
If a resolution constitutes a breach of the statute or the Terms and Conditions, Holders may bring an<br />
action to set aside such resolution. Such action must be filed with the competent court within one month<br />
following the publication of the resolution.
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