Common use of Combination of Series Clause in Contracts

Combination of Series. The Board of Directors shall have the authority, without the approval of the Investors of any Series unless otherwise required by applicable law, to combine the assets and liabilities held with respect to any two or more Series into assets and liabilities held with respect to a single Series; provided that upon completion of such combination of Series, the proportionate interest of each Investor of each Series that is combined, in the assets and liabilities held with respect to the combined Series shall equal the proportionate interest that each such Investor held in the assets and liabilities held with respect to the particular Series that was combined.

Combination of Series. The Board of Directors Trustees shall have the authority, --------------------- without the approval of the Investors Shareholders of any Series unless otherwise required by applicable law, to combine the assets and liabilities held with respect to any two or more Series into assets and liabilities held with respect to a single Series; provided that upon completion of such combination of Series, the proportionate interest of each Investor of each Series that is combinedShareholder, in the assets and liabilities held with respect to the combined Series shall equal the proportionate interest that of each such Investor held Shareholder in the assets and liabilities held with respect to the particular each Series that was combined.

Combination of Series. The Board of Directors shall have the authority, without the approval of the Investors of any Series unless otherwise required by applicable law, to combine the assets and liabilities held with respect to any two or more Series into assets and liabilities held with respect to a single Series; provided that upon completion of such combination of Series, the proportionate interest of each Investor of each Series that is combined, in the assets and liabilities held with respect to the combined Series shall equal the proportionate interest that each such Investor held in the assets and liabilities held with respect to the particular Series that was is combined.