4. Contents of a Trust Deed
4.1 Pursuant to Article (164) of the Commercial Companies Law, where a corporation or any other entity makes an offer or invitation in respect of Debt Securities for subscription, the Debt Securities or the relevant trust deed shall contain a limitation on the amount that the borrowing corporation may, pursuant to those Debt Securities or that deed, borrow and shall contain covenants by the borrowing corporation, or if the Debt Securities do not or the trust deed does not expressly contain those covenants, they or it shall be deemed to contain covenants by the borrowing corporation, to the following effect:
(a) that the borrowing corporation will use its best endeavours to carry on and conduct its business in a proper and efficient manner.
(b) That, to the same extent as if the trustee for the holders of the Debt Securities or any approved issuer's auditor appointed by the trustee were a director of the borrowing corporation or such person of the borrowing corporation as the Agency may approve in writing, the borrowing corporation shall:—
(i) make available for its or his inspection the whole of the accounting or other records of the borrowing corporation; and
(ii) give to it or him such information as it or he requires with respect to all matters relating to the accounting or other records of the borrowing corporation; and
(c) Subject to Article (163) of the Commercial Companies Law, that the borrowing corporation will, on the application of persons holding at least 10% in nominal value of the issued Debt Securities to which the covenant relates delivered to its registered office, by giving notice:—
(i) to each of the holders of those Debt Securities at his address as specified in the register of Debt Securities; and
(ii) by an advertisement in at least 2 local daily newspapers, one each published in the Arabic and English languages addressed to all holders of those Debt Securities.
Summon a meeting of the holders of those Debt Securities to consider the accounts and balance sheet which were last submitted to the trustee for the holders of the Debt Securities by the borrowing corporation and to give to the trustee directions in relation to the exercise of the trustee's powers, such meeting to be held at a time and place specified in the notice and advertisement under the chairmanship of a person nominated by the trustee or such other person as is appointed in that behalf by the holders of those Debt Securities present at the meeting.