Art. 1170 a. In the case of only one community of creditors

¹ A majority of at least two-thirds of the bond capital in circulation is required to pass a valid resolution in connection with the following measures:

1.: moratorium on interest for up to five years, with the option of extending the moratorium twice for up to five years each time;
2.: waiver of up to five years’ worth of interest within a seven-year period;
3.: decrease of the interest rate by up to one-half of the rate envisaged in the bond issue conditions or conversion of a fixed interest rate into a rate dependent on the business results, both measures to last for up to ten years, with the option of an extension for up to five years;
4.: extension of the redemption time limit by up to ten years by means of a reduction in the annual payment or an increase in the number of the redemption shares or temporary suspension of such payments, with the option of an extension for up to five years;
5.: suspension of a bond issue now due or maturing within five years or of portions thereof for up to ten years, with the option of an extension for up to five years;
6.: authorisation of an early redemption of the bond capital;
7.: granting of a priority lien for new capital raised for the issuing company and changes to the collateral provided for a bond issue or full or partial waiver of such collateral;
8.: consent to an amendment of the provisions governing restrictions on issues of bonds in relation to the share capital;
9.: consent to a full or partial conversion of bonds into shares.

² These measures may be combined.

Art. 1167 1. Droit de vote

¹ Le droit de vote appartient au propriétaire d’une obligation ou à son représentant; si l’obligation est grevée d’usufruit, il appartient toutefois à l’usufruitier ou à son représentant. L’usufruitier est cependant responsable envers le propriétaire si, en exerçant le droit de vote, il ne prend pas ses intérêts en considération dans une mesure équitable.

² Les obligations dont le débiteur est propriétaire ou usufruitier ne confèrent pas le droit de vote. Toutefois, lorsque des obligations appartenant au débiteur sont mises en gage, le créancier gagiste conserve le droit de vote.

³ Le propriétaire des obligations grevées d’un droit de gage ou de rétention en faveur du débiteur a le droit de vote.

This document is not an official publication. Only the publication of the Federal Chancellery is legally binding.
Ceci n’est pas une publication officielle. Seule la publication opérée par la Chancellerie fédérale fait foi. Ordonnance sur les publications officielles, OPubl.