Common use of Amendment Procedure Clause in Contracts

Amendment Procedure. (a) Except as provided in subsection (c) of this Section 11.2, the Trustees may, without Shareholder vote, amend or otherwise supplement this Declaration. Shareholders shall have the right to vote: (i) on any amendment which would eliminate their right to vote granted in this Declaration, (ii) on any amendment to this Section 11.2(a), (iii) on any amendment that would adversely affect the powers, preferences or special rights of the Shares as determined by the Trustees in good faith and (iv) on any amendment submitted to them by the Trustees. (b) An amendment duly adopted by the requisite vote of the Board of Trustees and, if required, the Shareholders as aforesaid, shall become effective at the time of such adoption or at such other time as may be designated by the Board of Trustees or Shareholders, as the case may be. A certification in recordable form signed by a majority of the Trustees setting forth an amendment and reciting that it was duly adopted by the Trustees and, if required, the Shareholders as aforesaid, or a copy of the Declaration, as amended, in recordable form, and executed by a majority of the Trustees, shall be conclusive evidence of such amendment when lodged among the records of the Trust or at such other time designated by the Board. (c) Any amendment to this Declaration that adversely affects the Delaware Trustee shall require its consent, which consent shall not be unreasonably withheld.

Amendment Procedure. (a) Except as provided Subject to Section 8.3(b), this Declaration may be amended in subsection (c) any respect by the affirmative vote of this Section 11.2, two-thirds of the Trustees may, and without Shareholder vote, amend or otherwise supplement this Declaration. Shareholders shall have the right to vote: (i) on any amendment which would eliminate their right to vote granted in this Declaration, (ii) on any amendment to this Section 11.2(a), (iii) on any amendment that would adversely affect the powers, preferences or special rights of the Shares Shareholders of the Trust or any Series or Class except as determined may be required by the Trustees in good faith and (iv) on any amendment submitted to them by the Trustees1940 Act. (b) Nothing contained in this Declaration shall permit the amendment of this Declaration to impair the exemption from personal liability of the Shareholders, Trustees, officers, employees and agents of the Trust or to permit assessments upon Shareholders. Expenses of the Trust charged directly to Shareholders pursuant to Section 3.8 hereof or fees or sales charges payable upon or in connection with redemptions of Shares pursuant to Section 7.1 hereof shall not constitute "assessments" for purposes of this Section 8.3(b). (c) An amendment duly adopted by the requisite vote of the Board of Trustees and, if required, the Shareholders as aforesaid, shall become effective at the time of such adoption or at such other time as may be designated by the Board of Trustees or Shareholders, as the case may be. A certification in recordable form signed by a majority of the Trustees setting forth an amendment and reciting that it was duly adopted by the Trustees and, if required, the Shareholders as aforesaid, or a copy of the Declaration, as amended, in recordable form, and executed by a majority of the Trustees, shall be conclusive evidence of such amendment when lodged among the records of the Trust or at such other time designated by the Board. (c) Any amendment to . Notwithstanding any other provision hereof, until such time as Shares are issued and outstanding, this Declaration that adversely affects may be terminated or amended in any respect by the Delaware Trustee shall require its consent, which consent shall not be unreasonably withheldaffirmative vote of a majority of the Trustees or by an instrument signed by a majority of the Trustees.

Amendment Procedure. (a) Except as provided Subject to Section 8.3(b), this Declaration may be amended in subsection (c) any respect by the affirmative vote or approval in writing of this Section 11.2, two-thirds of the Trustees may, and without Shareholder vote, amend or otherwise supplement this Declaration. Shareholders shall have the right to vote: (i) on any amendment which would eliminate their right to vote granted in this Declaration, (ii) on any amendment to this Section 11.2(a), (iii) on any amendment that would adversely affect the powers, preferences or special rights of the Shares Shareholders of the Trust or any Series or Class, except as determined may be required by the Trustees in good faith and (iv) on any amendment submitted to them by the Trustees1940 Act. (b) Nothing contained in this Declaration shall permit the amendment of this Declaration to impair the exemption from personal liability of the Shareholders, Trustees, officers, employees and agents of the Trust or to permit assessments upon Shareholders. Expenses of the Trust charged directly to Shareholders pursuant to Section 3.8 hereof or fees or sales charges payable upon or in connection with redemptions of Shares pursuant to Section 7.1 hereof shall not constitute “assessments” for purposes of this Section 8.3(b). (c) An amendment duly adopted by the requisite vote approval of the Board of Trustees and, if required, the Shareholders as aforesaid, shall become effective at the time of such adoption or at such other time as may be designated by the Board of Trustees or Shareholders, as the case may be. A certification in recordable form signed by a majority of the Trustees setting forth an amendment and reciting that it was duly adopted by the Trustees and, if required, the Shareholders as aforesaid, or a copy of the Declaration, as amended, in recordable form, and executed by a majority of the Trustees, shall be conclusive evidence of such amendment when lodged among the records of the Trust or at such other time designated by the Board. (c) Any amendment to . Notwithstanding any other provision hereof, until such time as Shares are issued and outstanding, this Declaration that adversely affects may be terminated or amended in any respect by the Delaware Trustee shall require its consent, which consent shall not be unreasonably withheldaffirmative vote of a majority of the Trustees or by an instrument signed by a majority of the Trustees.

Amendment Procedure. (a) Except as provided in subsection (c) of this Section 11.212.2, the Trustees may, without Shareholder vote, amend or otherwise supplement this Declaration. Shareholders shall have the right to vote: (i) on any amendment which would eliminate their right to vote granted in this Declaration, (ii) on any amendment to this Section 11.2(a12.2(a), (iii) on any amendment that would adversely affect the powers, preferences or special rights of the Shares as determined by the Trustees in good faith and (iv) on any amendment submitted to them by the Trustees. (b) In connection with an Exchange Listing, the Trustees may without the approval or vote of the Shareholders, amend or supplement this Declaration in any manner, including, without limitation to classify the Board of Trustees, to permit annual meetings of Shareholders, to impose advance notice provisions for the bringing of Shareholder nominations or proposals, to impose super-majority approval for certain types of transactions and to otherwise add provisions that may be deemed to adverse to Shareholders. (c) An amendment duly adopted by the requisite vote of the Board of Trustees and, if required, the Shareholders as aforesaid, shall become effective at the time of such adoption or at such other time as may be designated by the Board of Trustees or Shareholders, as the case may be. A certification in recordable form signed by a majority of the Trustees setting forth an amendment and reciting that it was duly adopted by the Trustees and, if required, the Shareholders as aforesaid, or a copy of the Declaration, as amended, in recordable form, and executed by a majority of the Trustees, shall be conclusive evidence of such amendment when lodged among the records of the Trust or at such other time designated by the Board. (cd) Any amendment to this Declaration that adversely affects the Delaware Trustee shall require its consent, which consent shall not be unreasonably withheld.

Amendment Procedure. (a) Except as provided in subsection (c) of this Section 11.2, the The Trustees may, without any Shareholder vote, amend or otherwise supplement this Declaration. Declaration by making an amendment, a Declaration of Trust supplemental hereto or an amended and restated trust instrument; provided, that Shareholders shall have the right to votevote on any amendment: (i) on any amendment which would eliminate their right to vote affect the voting rights of Shareholders granted in this DeclarationSection 2.1, (ii) on any amendment to this Section 2.2, Section 2.3, Section 3.9, Section 5.1, Section 5.2, Section 11.2(a), (ii) to this Section 11.4, or Section 11.5, (iii) on any amendment that would adversely affect the powers, preferences required to be approved by Shareholders by law or special rights of the Shares as determined by the Trustees in good faith Trust’s registration statement(s) filed with the Commission, and (iv) on any amendment submitted to them by the Trustees in their discretion. Any amendment submitted to Shareholders which the Trustees determine would affect the Shareholders of any Series shall be authorized by vote of the Shareholders of such Series and no vote shall be required of Shareholders of a Series not affected. Notwithstanding anything else herein, any amendment to Article V which would have the effect of reducing the indemnification and other rights provided thereby to Trustees, officers, employees, and agents of the Trust or to Shareholders or former Shareholders, and any repeal or amendment of this sentence shall each require the affirmative vote of the holders of two-thirds of the Outstanding Shares of the Trust entitled to vote thereon and no such amendment shall affect the right to indemnification of any person who is no longer a Trustee, Officer or employee or agent at the time of such amendment. (b) An amendment duly adopted by the requisite vote of the Board of Trustees and, if required, the Shareholders as aforesaid, shall become effective at the time of such adoption or at such other time as may be designated by the Board of Trustees or Shareholders, as the case may be. A certification in recordable form signed by a majority of the Trustees setting forth an amendment and reciting that it was duly adopted by the Trustees and, if required, the Shareholders as aforesaid, or a copy of the Declaration, as amended, in recordable form, and executed by a majority of the Trustees, shall be conclusive evidence of such amendment when lodged among the records of the Trust or at such other time designated by the Board. (c) Any amendment Board of Trustees. Notwithstanding any other provision hereof, until such time as any Series of the Trust commences operations pursuant to a Registration Statement, this Declaration that adversely affects may be terminated or amended in any respect by the Delaware Trustee shall require its consent, which consent shall not be unreasonably withheldaffirmative vote of a majority of the Trustees or by an instrument signed by a majority of the Trustees.

Amendment Procedure. (a) Except as provided Subject to Section 8.3(b), this Declaration may be amended in subsection (c) any respect by the affirmative vote or approval in writing of this Section 11.2, two-thirds of the Trustees may, and without Shareholder vote, amend or otherwise supplement this Declaration. Shareholders shall have the right to vote: (i) on any amendment which would eliminate their right to vote granted in this Declaration, (ii) on any amendment to this Section 11.2(a), (iii) on any amendment that would adversely affect the powers, preferences or special rights of the Shares Shareholders of the Trust or any Series or Class except as determined may be required by the Trustees in good faith and (iv) on any amendment submitted to them by the Trustees1940 Act. (b) Nothing contained in this Declaration shall permit the amendment of this Declaration to impair the exemption from personal liability of the Shareholders, Trustees, officers, employees and agents of the Trust or to permit assessments upon Shareholders. Expenses of the Trust charged directly to Share holders pursuant to Section 3.8 hereof or fees or sales charges payable upon or in connection with redemptions of Shares pursuant to Section 7.1 hereof shall not constitute "assessments" for purposes of this Section 8.3(b). (c) An amendment duly adopted by the requisite vote approval of the Board of Trustees and, if required, the Shareholders as aforesaid, shall become effective at the time of such adoption or at such other time as may be designated by the Board of Trustees or Shareholders, as the case may be. A certification in recordable form signed by a majority of the Trustees setting forth an amendment and reciting that it was duly adopted by the Trustees and, if required, the Shareholders as aforesaid, or a copy of the Declaration, as amended, in recordable form, and executed by a majority of the Trustees, shall be conclusive evidence of such amendment when lodged among the records of the Trust or at such other time designated by the Board. (c) Any amendment to . Notwithstanding any other provision hereof, until such time as Shares are issued and outstanding, this Declaration that adversely affects may be terminated or amended in any respect by the Delaware Trustee shall require its consent, which consent shall not be unreasonably withheldaffirmative vote of a majority of the Trustees or by an instrument signed by a majority of the Trustees.

Amendment Procedure. (a) Except as provided Subject to Section 11.3(b), this Declaration may be amended in subsection (c) any respect by the affirmative vote or approval in writing of this Section 11.2, two-thirds of the Trustees may, and without Shareholder vote, amend or otherwise supplement this Declaration. Shareholders shall have the right to vote: (i) on any amendment which would eliminate their right to vote granted in this Declaration, (ii) on any amendment to this Section 11.2(a), (iii) on any amendment that would adversely affect the powers, preferences or special rights of the Shares Shareholders of the Trust or any Series or Class except as determined may be required by the Trustees in good faith and (iv) on any amendment submitted to them by the Trustees1940 Act. (b) Nothing contained in this Declaration shall permit the amendment of this Declaration to impair the exemption from personal liability of the Shareholders, Trustees, officers, employees and agents of the Trust or to permit assessments upon Shareholders. Expenses of the Trust charged directly to Shareholders pursuant to Section 3.8 hereof or fees or sales charges payable upon or in connection with redemptions of Shares pursuant to Section 8.1 hereof shall not constitute “assessments” for purposes of this Section 11.3(b). (c) An amendment duly adopted by the requisite vote approval of the Board of Trustees and, if required, the Shareholders as aforesaid, shall become effective at the time of such adoption or at such other time as may be designated by the Board of Trustees or Shareholders, as the case may be. A certification in recordable form signed by a majority of the Trustees setting forth an amendment and reciting that it was duly adopted by the Trustees and, if required, the Shareholders as aforesaid, or a copy of the Declaration, as amended, in recordable form, and executed by a majority of the Trustees, shall be conclusive evidence of such amendment when lodged among the records of the Trust or at such other time designated by the Board. (c) Any amendment to . Notwithstanding any other provision hereof, until such time as Shares are issued and outstanding, this Declaration that adversely affects may be terminated or amended in any respect by the Delaware Trustee shall require its consent, which consent shall not be unreasonably withheldaffirmative vote of a majority of the Trustees or by an instrument signed by a majority of the Trustees.

Amendment Procedure. (a) Except as provided Subject to Section 8.3(b), this Declaration may be amended in subsection (c) any respect by the affirmative vote or approval in writing of this Section 11.2, two-thirds of the Trustees may, and without Shareholder vote, amend or otherwise supplement this Declaration. Shareholders shall have the right to vote: (i) on any amendment which would eliminate their right to vote granted in this Declaration, (ii) on any amendment to this Section 11.2(a), (iii) on any amendment that would adversely affect the powers, preferences or special rights of the Shares Shareholders of the Trust or any Series or Class except as determined may be required by the Trustees in good faith and (iv) on any amendment submitted to them by the Trustees1940 Act. (b) Nothing contained in this Declaration shall permit the amendment of this Declaration to impair the exemption from personal liability of the Shareholders, Trustees, officers, employees and agents of the Trust or to permit assessments upon Shareholders. Expenses of the Trust charged directly to Shareholders pursuant to Section 3.8 hereof or fees or sales charges payable upon or in connection with redemptions of Shares pursuant to Section 7.1 hereof shall not constitute "assessments" for purposes of this Section 8.3(b). (c) An amendment duly adopted by the requisite vote approval of the Board of Trustees and, if required, the Shareholders as aforesaid, shall become effective at the time of such adoption or at such other time as may be designated by the Board of Trustees or Shareholders, as the case may be. A certification in recordable form signed by a majority of the Trustees setting forth an amendment and reciting that it was duly adopted by the Trustees and, if required, the Shareholders as aforesaid, or a copy of the Declaration, as amended, in recordable form, and executed by a majority of the Trustees, shall be conclusive evidence of such amendment when lodged among the records of the Trust or at such other time designated by the Board. (c) Any amendment to . Notwithstanding any other provision hereof, until such time as Shares are issued and outstanding, this Declaration that adversely affects may be terminated or amended in any respect by the Delaware Trustee shall require its consent, which consent shall not be unreasonably withheldaffirmative vote of a majority of the Trustees or by an instrument signed by a majority of the Trustees.

Amendment Procedure. (a) Except as provided in subsection (c) of this Section 11.2, the Trustees may, without Shareholder vote, amend or otherwise supplement this Declaration. Shareholders shall have the right to vote: (i) on any amendment which would eliminate their right to vote granted in this Declaration, (ii) on any amendment to this Section 11.2(a), (iii) on any amendment that would adversely affect the powers, preferences or special rights of the Shares as determined by the Trustees in good faith and (iv) on any amendment submitted to them by the Trustees. (b) An amendment duly adopted by the requisite vote of the Board of Trustees and, if required, the Shareholders as aforesaid, shall become effective at the time of such adoption or at such other time as may be designated by the Board of Trustees or Shareholders, as the case may be. A certification in recordable form signed by a majority of the Trustees setting forth an amendment and reciting that it was duly adopted by the Trustees and, if required, the Shareholders as aforesaid, or a copy of the Declaration, as amended, in recordable form, and executed by a majority of the Trustees, shall be conclusive evidence of such amendment when lodged among the records of the Trust or at such other time designated by the Board. (c) Any amendment to this Declaration that adversely affects the Delaware Trustee shall require its consent, which consent shall not be unreasonably withheld.

Amendment Procedure. (a) Except as provided in subsection (c) of this Section 11.2, the Trustees may, without Shareholder vote, amend or otherwise supplement this Declaration. Shareholders shall have the right to vote: (i) on any amendment which would eliminate their right to vote granted in this Declaration, (ii) on any amendment to this Section 11.2(a), (iii) on any amendment that would adversely affect the powers, preferences or special rights of the Shares as determined by the Trustees in good faith and (iv) on any amendment submitted to them by the Trustees. Any such action contemplated in this Section 11.2(a)(i)-(iv) shall require at least a majority of the votes cast by such shareholders at a meeting of shareholders duly called and at which a quorum is present. (b) In connection with an Exchange Listing or a Liquidity Event, the Trustees may without the approval or vote of the Shareholders, amend or supplement this Declaration in any manner, including, without limitation to classify the Board of Trustees, to permit annual meetings of Shareholders, to impose advance notice provisions for the bringing of Shareholder nominations or proposals, to impose super-majority approval for certain types of transactions and to otherwise add provisions that may be deemed to adverse to Shareholders. (c) An amendment duly adopted by the requisite vote of the Board of Trustees and, if required, the Shareholders as aforesaid, shall become effective at the time of such adoption or at such other time as may be designated by the Board of Trustees or Shareholders, as the case may be. A certification in recordable form signed by a majority of the Trustees setting forth an amendment and reciting that it was duly adopted by the Trustees and, if required, the Shareholders as aforesaid, or a copy of the Declaration, as amended, in recordable form, and executed by a majority of the Trustees, shall be conclusive evidence of such amendment when lodged among the records of the Trust or at such other time designated by the Board. (cd) Any amendment to this Declaration that adversely affects the Delaware Trustee shall require its consent, which consent shall not be unreasonably withheldin the Delaware Trustee’s sole and absolute discretion.

Amendment Procedure. (a) Except as provided in subsection (c) of this Section 11.2, the The Trustees may, without Shareholder vote, amend or otherwise supplement this Declaration. Shareholders shall only have the right to vote: (i) on any amendment which would eliminate their right to vote granted in this DeclarationSection 12.2(a), (ii) on any amendment to this Section 11.2(a), (iii) on any amendment that would adversely affect the powers, preferences or special rights of the Shares as determined by the Trustees in good faith and (iviii) on any amendment submitted to them by the Trustees. (b) Notwithstanding anything to the contrary in this Declaration, in connection with an Exchange Listing, the Trustees may, without the approval or vote of the Shareholders, amend or supplement this Declaration in any manner, including, without limitation to classify the Board of Trustees, to permit annual meetings of Shareholders, to impose advance notice provisions for the bringing of Shareholder nominations or proposals, to impose super-majority approval for certain types of transactions, to impose “control share” type provisions and to otherwise add provisions that may be deemed adverse to Shareholders. (c) An amendment duly adopted by the requisite vote of the Board of Trustees and, if required, the Shareholders as aforesaid, shall become effective at the time of such adoption or at such other time as may be designated by the Board of Trustees or Shareholders, as the case may be. A certification in recordable form signed by a majority of the Trustees setting forth an amendment and reciting that it was duly adopted by the Trustees and, if required, the Shareholders as aforesaid, or a copy of the Declaration, as amended, in recordable form, and executed by a majority of the Trustees, shall be conclusive evidence of such amendment when lodged among the records of the Trust or at such other time designated by the Board. (cd) Any amendment to this Declaration that adversely affects the Delaware Trustee shall require its consent, which consent shall not be unreasonably withheld.

Amendment Procedure. (a) Except as provided in subsection (c) of this Section 11.2, the The Trustees may, without Shareholder vote, amend or otherwise modify or supplement this Declaration. Shareholders shall only have the right to vote: (i) on any amendment which would eliminate their right to vote granted in this DeclarationSection 12.2, (ii) on any amendment to this Section 11.2(a), (iii) on any amendment that would materially adversely affect the powers, preferences or special rights of the Shares as determined by the Trustees in good faith and (iviii) on any amendment submitted to them by the Trustees. (b) ; provided, that, notwithstanding anything to the contrary in this Declaration, in connection with an Exchange Listing, the Trustees may, without the approval or vote of the Shareholders, amend or supplement this Declaration in any manner, including, without limitation to classify the Board of Trustees, to permit annual meetings of Shareholders, to impose advance notice provisions for the bringing of Shareholder nominations or proposals, to impose super-majority approval for certain types of transactions, to impose “control share” type provisions and to otherwise add provisions that may be deemed adverse to Shareholders. An amendment duly adopted by the requisite vote of the Board of Trustees and, if required, the Shareholders as aforesaid, shall become effective at the time of such adoption or at such other time as may be designated by the Board of Trustees or Shareholders, as the case may be. A certification in recordable form signed by a majority of the Trustees setting forth an amendment and reciting that it was duly adopted by the Trustees and, if required, the Shareholders as aforesaid, or a copy of the Declaration, as amended, in recordable form, and executed by a majority of the Trustees, No Shareholder shall be conclusive evidence of such amendment when lodged among the records of the Trust or at such other time designated by the Board. (c) Any required to execute any amendment to this Declaration that adversely affects the Delaware Trustee shall require its consent, which consent shall not in order for such amendment to be unreasonably withheldbinding on such Shareholder.

Amendment Procedure. (a) Except as provided in subsection (c) of this Section 11.2, the Trustees may, without Shareholder vote, amend or otherwise supplement this Declaration. Shareholders shall have the right to vote: (i) on any amendment which would eliminate their right to vote granted in this Declaration, (ii) on any amendment to this Section 11.2(a), (iii) on any amendment that would adversely affect the powers, preferences or special rights of the Shares as determined by the Trustees in good faith and (iv) on any amendment submitted to them by the Trustees. (b) In connection with an Exchange Listing, the Trustees may without the approval or vote of the Shareholders, amend or supplement this Declaration in any manner, including, without limitation to classify the Board of Trustees, to permit annual meetings of Shareholders, to impose advance notice provisions for the bringing of Shareholder nominations or proposals, to impose super-majority approval for certain types of transactions and to otherwise add provisions that may be deemed to adverse to Shareholders. (c) An amendment duly adopted by the requisite vote of the Board of Trustees and, if required, the Shareholders as aforesaid, shall become effective at the time of such adoption or at such other time as may be designated by the Board of Trustees or Shareholders, as the case may be. A certification in recordable form signed by a majority of the Trustees setting forth an amendment and reciting that it was duly adopted by the Trustees and, if required, the Shareholders as aforesaid, or a copy of the Declaration, as amended, in recordable form, and executed by a majority of the Trustees, shall be conclusive evidence of such amendment when lodged among the records of the Trust or at such other time designated by the Board. (cd) Any amendment to this Declaration that adversely affects the Delaware Trustee shall require its consent, which consent shall not be unreasonably withheldin the Delaware Trustee’s sole and absolute discretion.

Amendment Procedure. (a) Except as provided in subsection (c) of this Section 11.2, the Trustees may, without Shareholder vote, amend or otherwise supplement this Declaration. Shareholders shall have the right to vote: (i) on any amendment which would eliminate their right to vote granted in this Declaration, (ii) on any amendment to this Section 11.2(a), (iii) on any amendment that would adversely affect the powers, preferences or special rights of the Shares as determined by the Trustees in good faith and (iv) on any amendment submitted to them by the Trustees. (b) In connection with an Exchange Listing, the Trustees may without the approval or vote of the Shareholders, amend or supplement this Declaration in any manner, including, without limitation to classify the Board of Trustees, to permit annual meetings of Shareholders, to impose advance notice provisions for the bringing of Shareholder nominations or proposals, to impose super-majority approval for certain types of transactions and to otherwise add provisions that may be deemed to adverse to Shareholders. (c) An amendment duly adopted by the requisite vote of the Board of Trustees and, if required, the Shareholders as aforesaid, shall become effective at the time of such adoption or at such other time as may be designated by the Board of Trustees or Shareholders, as the case may be. A certification in recordable form signed by a majority of the Trustees setting forth an amendment and reciting that it was duly adopted by the Trustees and, if required, the Shareholders as aforesaid, or a copy of the Declaration, as amended, in recordable form, and executed by a majority of the Trustees, shall be conclusive evidence of such amendment when lodged among the records of the Trust or at such other time designated by the Board. (cd) Any amendment to this Declaration that adversely affects the Delaware Trustee shall require its consent, which consent shall not be unreasonably withheld.

Amendment Procedure. This Declaration may be amended (aexcept that the provision governing the personal liability of the Shareholders, Trustees and of the officers, employees and agents of the Trust and the prohibition of assessments upon Shareholders may not be amended in any respect that could increase the personal liability of such Shareholders, Trustees or officers, employees and agents of the Trust) Except as provided in subsection at a meeting of Shareholders by holders of Shares representing ninety-five percent (c95%) of this Section 11.2the total number of votes authorized to be cast in respect of Shares then outstanding and entitled to vote thereon. Notwithstanding the foregoing, if all or all but one of the Continuing Trustees vote in favor of any proposed amendment, the Trustees may, without Shareholder vote, amend or otherwise supplement this Declaration. Shareholders shall have the right to vote: (i) on any amendment which would eliminate their right to vote granted in this Declaration, (ii) on any amendment to this Section 11.2(a), (iii) on any amendment that would adversely affect the powers, preferences or special rights of the Shares as determined by the Trustees in good faith and (iv) on any amendment submitted to them by the Trustees. (b) An amendment duly adopted by the requisite affirmative vote of the Board holders of Trustees and, if required, the Shareholders as aforesaid, shall become effective at the time of such adoption or at such other time as may be designated by the Board of Trustees or Shareholders, as the case may be. A certification in recordable form signed by Shares representing a majority of the total number of votes authorized to be cast in respect of Shares then outstanding and entitled to vote thereon, will be required to amend this Declaration. Two-thirds (2/3) of the Continuing Trustees setting forth an amendment and reciting that may, after fifteen (15) days written notice to the Shareholders, also amend this Declaration without the vote or consent of Shareholders if in good faith they deem it was duly adopted necessary to conform this Declaration to the requirements of REIT Provisions of the Internal Revenue Code, but the Continuing Trustees shall not be liable for failing to do so. Actions by the Trustees and, if required, the Shareholders as aforesaid, pursuant to Section 3.1 or a copy of the Declaration, as amended, pursuant to Section 6.6(a) that result in recordable form, and executed by a majority of the Trustees, shall be conclusive evidence of such amendment when lodged among the records of the Trust or at such other time designated by the Board. (c) Any an amendment to this Declaration that adversely affects the Delaware Trustee shall require its consent, which be effected without vote or consent shall not be unreasonably withheldof Shareholders.

Amendment Procedure. (a) Except as provided in subsection (cb) of this Section 11.2, the Trustees may, without Shareholder vote, amend or otherwise supplement this Declaration. Shareholders shall have the right to vote: (i) on any amendment which would eliminate their right to vote granted in this Declaration, (ii) on any amendment to this Section 11.2(a), (iii) on any amendment that would adversely affect the powers, preferences or special rights of the Shares as determined by the Trustees in good faith and (iv) on any amendment submitted to them by the Trustees. (b) An amendment duly adopted by the requisite vote of the Board of Trustees and, if required, the Shareholders as aforesaid, shall become effective at the time of such adoption or at such other time as may be designated by the Board of Trustees or Shareholders, as the case may be. A certification in recordable form signed by a majority of the Trustees setting forth an amendment and reciting that it was duly adopted by the Trustees and, if required, the Shareholders as aforesaid, or a copy of the Declaration, as amended, in recordable form, and executed by a majority of the Trustees, shall be conclusive evidence of such amendment when lodged among the records of the Trust or at such other time designated by the Board. (c) Any amendment to this Declaration that adversely affects the Delaware Trustee shall require its consent, which consent shall not be unreasonably withheldin the Delaware Trustee’s sole and absolute discretion.

Amendment Procedure. (a1) Except Subject to Section 8.3(b), this Declaration may be amended in any respect by the affirmative vote of two-thirds of the Trustees and without any vote of the Shareholders of the Trust or any Series or Class except as provided may be required by the 1940 Act. (2) Nothing contained in subsection (c) this Declaration shall permit the amendment of this Declaration to impair the exemption from personal liability of the Shareholders, Trustees, officers, employees and agents of the Trust or to permit assessments upon Shareholders. Expenses of the Trust charged directly to Shareholders pursuant to Section 3.8 hereof or fees or sales charges payable upon or in connection with redemptions of Shares pursuant to Section 7.1 hereof shall not constitute "assessments" for purposes of this Section 11.2, the Trustees may, without Shareholder vote, amend or otherwise supplement this Declaration. Shareholders shall have the right to vote: (i) on any amendment which would eliminate their right to vote granted in this Declaration, (ii) on any amendment to this Section 11.2(a8.3(b), (iii) on any amendment that would adversely affect the powers, preferences or special rights of the Shares as determined by the Trustees in good faith and (iv) on any amendment submitted to them by the Trustees. (b3) An amendment duly adopted by the requisite vote of the Board of Trustees and, if required, the Shareholders as aforesaid, shall become effective at the time of such adoption or at such other time as may be designated by the Board of Trustees or Shareholders, as the case may be. A certification in recordable form signed by a majority of the Trustees setting forth an amendment and reciting that it was duly adopted by the Trustees and, if required, the Shareholders as aforesaid, or a copy of the Declaration, as amended, in recordable form, and executed by a majority of the Trustees, shall be conclusive evidence of such amendment when lodged among the records of the Trust or at such other time designated by the Board. (c) Any amendment to . Notwithstanding any other provision hereof, until such time as Shares are issued and outstanding, this Declaration that adversely affects may be terminated or amended in any respect by the Delaware Trustee shall require its consent, which consent shall not be unreasonably withheldaffirmative vote of a majority of the Trustees or by an instrument signed by a majority of the Trustees.

Amendment Procedure. (a) Except as provided Subject to Section 11.3(b), this Declaration may be amended in subsection (c) any respect by the affirmative vote or approval in writing of this Section 11.2, two-thirds of the Trustees may, and without Shareholder vote, amend or otherwise supplement this Declaration. Shareholders shall have the right to vote: (i) on any amendment which would eliminate their right to vote granted in this Declaration, (ii) on any amendment to this Section 11.2(a), (iii) on any amendment that would adversely affect the powers, preferences or special rights of the Shares Shareholders of the Trust or any Series or Class except as determined may be required by the Trustees in good faith and (iv) on any amendment submitted to them by the Trustees1940 Act. (b) Nothing contained in this Declaration shall permit the amendment of this Declaration to impair the exemption from personal liability of the Shareholders, Trustees, officers, employees and agents of the Trust or to permit assessments upon Shareholders. Expenses of the Trust charged directly to Shareholders pursuant to Section 3.8 hereof or fees or sales charges payable upon or in connection with redemptions of Shares pursuant to Section 8.1 hereof shall not constitute "assessments" for purposes of this Section 11.3(b). (c) An amendment duly adopted by the requisite vote approval of the Board of Trustees and, if required, the Shareholders as aforesaid, shall become effective at the time of such adoption or at such other time as may be designated by the Board of Trustees or Shareholders, as the case may be. A certification in recordable form signed by a majority of the Trustees setting forth an amendment and reciting that it was duly adopted by the Trustees and, if required, the Shareholders as aforesaid, or a copy of the Declaration, as amended, in recordable form, and executed by a majority of the Trustees, shall be conclusive evidence of such amendment when lodged among the records of the Trust or at such other time designated by the Board. (c) Any amendment to . Notwithstanding any other provision hereof, until such time as Shares are issued and outstanding, this Declaration that adversely affects may be terminated or amended in any respect by the Delaware Trustee shall require its consent, which consent shall not be unreasonably withheldaffirmative vote of a majority of the Trustees or by an instrument signed by a majority of the Trustees.

Amendment Procedure. (a) Except as provided Subject to Section 8.3(b), this Declaration may be amended in subsection (c) any respect by the affirmative vote or approval in writing of this Section 11.2, two-thirds of the Trustees may, and without Shareholder vote, amend or otherwise supplement this Declaration. Shareholders shall have the right to vote: (i) on any amendment which would eliminate their right to vote granted in this Declaration, (ii) on any amendment to this Section 11.2(a), (iii) on any amendment that would adversely affect the powers, preferences or special rights of the Shares Shareholders of the Trust or any Series or Class except as determined may be required by the Trustees in good faith and (iv) on any amendment submitted to them by the Trustees1940 Act. (b) Nothing contained in this Declaration shall permit the amendment of this Declaration to impair the exemption from personal liability of the Shareholders, Trustees, officers, employees and agents of the Trust or to permit assessments upon Shareholders. Expenses of the Trust charged directly to Shareholders pursuant to Section 3.8 hereof or fees or sales charges payable upon or in connection with redemptions of Shares pursuant to Section 7.1 hereof shall not constitute “assessments” for purposes of this Section 8.3(b). (c) An amendment duly adopted by the requisite vote approval of the Board of Trustees and, if required, the Shareholders as aforesaid, shall become effective at the time of such adoption or at such other time as may be designated by the Board of Trustees or Shareholders, as the case may be. A certification in recordable form signed by a majority of the Trustees setting forth an amendment and reciting that it was duly adopted by the Trustees and, if required, the Shareholders as aforesaid, or a copy of the Declaration, as amended, in recordable form, and executed by a majority of the Trustees, shall be conclusive evidence of such amendment when lodged among the records of the Trust or at such other time designated by the Board. (c) Any amendment to . Notwithstanding any other provision hereof, until such time as Shares are issued and outstanding, this Declaration that adversely affects may be terminated or amended in any respect by the Delaware Trustee shall require its consent, which consent shall not be unreasonably withheldaffirmative vote of a majority of the Trustees or by an instrument signed by a majority of the Trustees.

Amendment Procedure. (a) Except as provided in subsection (c) of this Section 11.2, the Trustees may, without Shareholder vote, amend or otherwise supplement this Declaration. Shareholders shall have the right to vote: (i) on any amendment which would eliminate their right to vote granted in this Declaration, (ii) on any amendment to this Section 11.2(a), (iii) on any amendment that would adversely affect the powers, preferences or special rights of the Shares as determined by the Trustees in good faith and (iv) on any amendment submitted to them by the Trustees. (b) In connection with an Exchange Listing, the Trustees may without the approval or vote of the Shareholders, amend or supplement this Declaration in any manner, including, without limitation to classify the Board of Trustees, to permit annual meetings of Shareholders, to impose advance notice provisions for the bringing of Shareholder nominations or proposals, to impose super-majority approval for certain types of transactions and to otherwise add provisions that may be deemed to adverse to Shareholders. (c) An amendment duly adopted by the requisite vote of the Board of Trustees and, if required, the Shareholders as aforesaid, shall become effective at the time of such adoption or at such other time as may be designated by the Board of Trustees or Shareholders, as the case may be. A certification in recordable form signed by a majority of the Trustees setting forth an amendment and reciting that it was duly adopted by the Trustees and, if required, the Shareholders as aforesaid, or a copy of the Declaration, as amended, in recordable form, and executed by a majority of the Trustees, shall be conclusive evidence of such amendment when lodged among the records of the Trust or at such other time designated by the Board. (c) Any amendment to this Declaration that adversely affects the Delaware Trustee shall require its consent, which consent shall not be unreasonably withheld.

Amendment Procedure. (a) Except as provided in subsection (c) of this Section 11.211.05, the Trustees may, without Shareholder vote, amend or otherwise supplement this Declaration, including but not limited to, to classify the Board of Trustees, to impose advance notice provisions for Trustee nominations or for shareholder proposals, and to require super-majority approval of transactions with significant shareholders or other provisions that may be characterized as anti-takeover in nature. Shareholders shall have the right to votevote only on the following matters: (i) on any amendment which would eliminate their right to vote granted in this Declaration, (ii) on any amendment to this Section 11.2(a), 11.05(a) and (iii) on any amendment that would adversely affect the powers, preferences or special rights of the Shares as determined by the Trustees in good faith and (iv) on any amendment submitted to them by the Trustees. (b) An amendment duly adopted by the requisite vote of the Board of Trustees and, if required, the Shareholders as aforesaid, shall become effective at the time of such adoption or at such other time as may be designated by the Board of Trustees or Shareholders, as the case may be. A certification in recordable form signed by a majority of the Trustees setting forth an amendment and reciting that it was duly adopted by the Trustees and, if required, the Shareholders as aforesaid, or a copy of the Declaration, as amended, in recordable form, and executed by a majority of the Trustees, shall be conclusive evidence of such amendment when lodged among the records of the Trust or at such other time designated by the Board. (c) Any amendment to The Trustees may, without Shareholder vote, amend or otherwise supplement this Declaration that adversely affects the Delaware Trustee shall require its consent, which consent shall not be unreasonably withheldfor purposes of complying or conforming this Declaration as necessary to satisfy any North American Securities Administrators Association guidelines.

Amendment Procedure. (a) Except as provided in subsection (c) of this Section 11.2, the The Trustees may, without Shareholder vote, amend or otherwise supplement this Declaration. Shareholders shall only have the right to vote: (i) on any amendment which would eliminate their right to vote granted in this DeclarationSection 15.2(a), (ii) on any amendment to this Section 11.2(a), (iii) on any amendment that would adversely affect the powers, preferences or special rights of the Shares as determined by the Trustees in good faith and (iviii) on any amendment submitted to them by the Trustees. (b) Notwithstanding anything to the contrary in this Declaration, in connection with an Exchange Listing (if any) or otherwise deemed appropriate by the Trustees, the Trustees may, without the approval or vote of the Shareholders, amend or supplement this Declaration or Bylaws, as applicable, in any manner, including, without limitation to classify the Board of Trustees, to permit annual meetings of Shareholders, to impose advance notice provisions or requirements for the bringing of Shareholder nominations or proposals, to impose super-majority approval for certain types of transactions, to impose “control share” type provisions and to otherwise add provisions that may be deemed adverse to Shareholders. (c) An amendment duly adopted by the requisite vote of the Board of Trustees and, if required, the Shareholders as aforesaid, shall become effective at the time of such adoption or at such other time as may be designated by the Board of Trustees or Shareholders, as the case may be. A certification in recordable form signed by a majority of the Trustees setting forth an amendment and reciting that it was duly adopted by the Trustees and, if required, the Shareholders as aforesaid, or a copy of the Declaration, as amended, in recordable form, and executed by a majority of the Trustees, shall be conclusive evidence of No such amendment when lodged among shall affect the records rights, protections, immunities, indemnities, duties or obligations of the Trust or at such other time designated by the Board. (c) Any amendment to this Declaration that adversely affects the Delaware Trustee shall require its consent, which hereunder without the written consent shall not be unreasonably withheld.of the Delaware Trustee

Amendment Procedure. This Declaration may be amended (aexcept as to the limitation of personal liability of the Shareholders, Trustees, officers, employees and agents of the Trust and the prohibition of assessments upon Shareholders) Except as provided at a meeting of Shareholders by holders of Shares representing a majority of the total number of votes authorized to be cast by Shares then outstanding and entitled to vote thereon. Approval in subsection (c) accordance with the final paragraph of this Section 11.2, the 2.6 shall also be required for any such amendment. The Trustees may, with the approval of the committee consisting solely of at least one Unaffiliated Trustee and two Affiliated Trustees, and without Shareholder voteapproval, amend change the investment policies of the Trust from time to time, by amendment of Section 5.1 herein or otherwise supplement any other provision of this Declaration. The Trustees may also amend this Declaration without the vote or consent of Shareholders shall have if they deem it necessary to conform this Declaration to the right to vote: requirements of (i) on any amendment which would eliminate their right to vote granted in this Declarationthe REIT Provisions of the Internal Revenue Code, (ii) on any amendment to this Section 11.2(a), other applicable Federal laws or regulations or (iii) on any amendment that would adversely affect state securities or "blue sky" laws or requirements of administrative agencies thereunder in connection with the powersinitial public offering of Shares, preferences or special rights of but the Shares as determined Trustees shall not be liable for failing so to do. Actions by the Trustees pursuant to the second paragraph of Section 1.1 or pursuant to Section 9.6(a) that result in good faith and (iv) on amending this Declaration shall be effected without vote or consent of Shareholders. Any amendment pursuant to any amendment submitted to them by the Trustees. (b) An amendment duly adopted by the requisite vote Section of the Board this Declaration of Trustees and, if required, the Shareholders as aforesaid, Trust shall not become effective at the time of such adoption or at such other time as may be designated by the Board of Trustees or Shareholders, as the case may be. A until a certification in recordable form signed by a majority of the Trustees setting forth an amendment and reciting that it was duly adopted by the Trustees and, if required, the Shareholders as aforesaid, aforesaid or a copy of the this Declaration, as amended, in recordable form, and executed by a majority of the Trustees, shall be conclusive evidence of such amendment when lodged among is filed with the records Secretary of the Trust or at such other time designated by the BoardCommonwealth of Massachusetts. (c) Any amendment to this Declaration that adversely affects the Delaware Trustee shall require its consent, which consent shall not be unreasonably withheld.