Tabreed 06 Prospectus - London Stock Exchange

13.2 The Trustee shall not be bound in any circumstances to take any action to enforce or to realise
the Trust Assets or take any action against Tabreed under any Transaction Document to which
Tabreed is a party or to sell any Trust Assets to another party other than Tabreed unless
directed or requested to do so (a) by an Extraordinary Resolution or (b) in writing by the
holders of at least 25 per cent. in aggregate face amount of the Certificates then outstanding
and, in each case, it is indemnified to its satisfaction.
13.3 No Certificateholder shall be entitled to proceed directly against the Issuer or Tabreed unless (i)
the Trustee, having become bound so to proceed, fails to do so within 30 days of becoming so
bound and such failure is continuing and (ii) the relevant Certificateholder (or such
Certificateholder together with the other Certificateholders who propose to proceed directly
against Tabreed) holds at least 25 per cent. of the aggregate face amount of the Certificates then
outstanding. Under no circumstances shall the Trustee or any Certificateholder have any right to
cause the sale or other disposition of any of the Trust Assets except pursuant to the Purchase
Undertaking or Condition 9.2 (Summary of Dissolution), and the sole right of the Trustee and
the Certificateholders against Tabreed shall be to enforce the obligation of Tabreed to pay the
Exercise Price under the Purchase Undertaking or the shortfall between the proceeds of sale of
Assets to third parties pursuant to Condition 9.2 (Summary of Dissolution) and the Exercise
Price.
13.4 Conditions 13.1, 13.2 and 13.3 are subject to this Condition 13.4. After distributing the net
proceeds of the Trust Assets in accordance with Condition 4.2 (Application of Proceeds from
Trust Assets), the obligations of the Trustee in respect of the Certificates shall be satisfied and
no holder of the Certificates may take any further steps against the Trustee to recover any
further sums in respect of the Certificates and the right to receive any such sums unpaid shall be
extinguished. In particular, no holder of the Certificates shall be entitled in respect thereof to
petition or to take any other steps for the winding-up of the Trustee nor shall any of them have
any claim in respect of the trust assets of any other trust established by the Trustee.
14 Replacement of Certificates
Should any Certificate be lost, stolen, mutilated, defaced or destroyed it may be replaced at the
specified offices of the Replacement Agents upon payment by the claimant of the expenses incurred in
connection with the replacement and on such terms as to evidence and indemnity as the Trustee may
reasonably require. Mutilated or defaced Certificates must be surrendered before replacements will be
issued.
15 Notices
15.1 All notices to the Certificateholders will be valid if:
15.1.1 published in a daily newspaper (which will be in a leading English language
15.1.2
newspaper having general circulation) in the Gulf region and a daily newspaper
having general circulation in London (which is expected to be the Financial Times)
approved by the Trustee; or
mailed to them by first class pre-paid registered mail (or its equivalent) or (if posted
to an overseas address) by air mail at their respective addresses in the Register, and,
in addition, for so long as the Certificates are listed on a stock exchange and the
rules of that stock exchange so require, such notice will be published in a daily
newspaper in the place or places required by those rules.
The Issuer shall also ensure that notices are duly given or published in a manner which complies with
the rules and regulations of any stock exchange on which the Certificates are for the time being
listed. Any notice shall be deemed to have been given on the seventh day after being so mailed or on
the date of publication or, if so published more than once or on different dates, on the date of the
first publication.
16 Meetings of Certificateholders, Modification, Waiver, Authorisation and Determination
16.1 The Declaration of Trust contains provisions for convening meetings of Certificateholders to
consider any matter affecting their interests, including the modification or abrogation by
Extraordinary Resolution of these Conditions or the provisions of the Declaration of Trust. The
quorum at any meeting for passing an Extraordinary Resolution will be two or more persons
present holding or representing more than two-thirds in aggregate face amount of the
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