Dissolution of Trust or Series. The Trust and each Series shall have perpetual existence, except that the Trust (or a particular Series) shall be dissolved: (a) With respect to the Trust, (i) upon the vote of the holders of not less than a majority of the Shares of the Trust cast, or (ii) at the discretion of the Board either (A) at any time there are no Shares outstanding of the Trust, or (B) upon prior written notice to the Shareholders of the Trust; or (b) With respect to a particular Series, (i) upon the vote of the holders of not less than a majority of the Shares of such Series cast, or (ii) at the discretion of the Board either (A) at any time there are no Shares outstanding of such Series, or (B) upon prior written notice to the Shareholders of such Series; or (c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 2) or the DSTA; or (d) With respect to any Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular Series, as the case may be), the Board shall (in accordance with Section 3808 of the DSTA) pay, or make reasonable provision to pay, all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including all contingent, conditional or unmatured claims and obligations known to the Trust, and all claims and obligations which are known to the Trust, but for which the identity of the claimant is unknown. If there are sufficient assets of the Trust and/or associated with the applicable Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of the Trust and/or associated with the applicable Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Any remaining assets (including, without limitation, cash, securities or any combination thereof) of the Trust and/or associated with the applicable Series of the Trust (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series of the Trust (or the particular Series, as the case may be) ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) held of record by the several Shareholders on the date for such dissolution distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes thereof, any remaining assets (including, without limitation, cash, securities or any combination thereof) of the Trust or associated with such Series, as applicable, shall be distributed to each Class of the Trust or such Series according to the net asset value computed for such Class and within such particular Class, shall be distributed ratably to the Shareholders of such Class according to the number of Shares of such Class held of record by the several Shareholders on the date for such dissolution distribution. Upon the completion of the winding up of the Trust, in accordance with Section 3808 of the DSTA, and the Trust’s termination, any one (1) Trustee shall execute, and cause to be filed, a certificate of cancellation, with the office of the Secretary of State of the State of Delaware in accordance with the provisions of Section 3810 of the DSTA.
Appears in 5 contracts
Sources: Trust Agreement (Bennett Group Master Funds), Agreement and Declaration of Trust (Bennett Global Funds), Agreement and Declaration of Trust (Nationwide Variable Insurance Trust)
Dissolution of Trust or Series. The Trust and each Series shall have perpetual existence, except that the Trust (or a particular Series) shall be dissolved:
(a) With respect to the Trust, (i) upon the vote of the holders of not less than a majority of the Shares of the Trust cast, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of the Trust, or (B) upon prior written notice to the Shareholders of the Trust; Trust; or
(b) With respect to a particular Series, (i) upon the vote of the holders of not less than a majority of the Shares of such Series cast, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of such Series, or (B) upon prior written notice to the Shareholders of such Series; Series; or
(c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 2) or the DSTA; DSTA; or
(d) With respect to any Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular Series, as the case may be), the Board of Trustees shall (in accordance with Section 3808 of the DSTA) pay, pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including including, without limitation, all contingent, conditional or unmatured claims and obligations known to the Trust, and all claims and obligations which are known to the Trust, but for which the identity of the claimant is unknown. If there are sufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series of the Trust (or the particular Series, as the case may be) ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) held of record by the several Shareholders on the date for such dissolution distribution; distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes thereof, any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust or associated with such Series, as applicable, shall be distributed to each Class of the Trust or such Series according to the net asset value computed for such Class and within such particular Class, shall be distributed ratably to the Shareholders of such Class according to the number of Shares of such Class held of record by the several Shareholders on the date for such dissolution distribution. Upon the completion of the winding up of the Trust, Trust in accordance with Section 3808 of the DSTA, DSTA and the Trust’s its termination, any one (1) Trustee shall execute, and cause to be filed, a certificate of cancellation, with the office of the Secretary of State of the State of Delaware in accordance with the provisions of Section 3810 of the DSTA. In connection with the dissolution and liquidation of the Trust or the termination of any Series or any Class, the Trustees may provide for the establishment and utilization of a liquidating trust or similar vehicle.
Appears in 4 contracts
Sources: Agreement and Declaration of Trust (Palmer Square Funds Trust), Agreement and Declaration of Trust (Palmer Square Funds Trust), Agreement and Declaration of Trust (Palmer Square Funds Trust)
Dissolution of Trust or Series. The Trust and each Series shall have perpetual existence, except that the Trust (or a particular Series) shall be dissolved:
(a) With respect to the Trust, (i) upon the vote of the holders of not less than a majority of the Shares of the Trust cast, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of the Trust, or (B) upon prior written notice to the Shareholders of the Trust; or
(b) With respect to a particular Series, (i) upon the vote of the holders of not less than a majority of the Shares of such Series cast, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of such Series, or (B) upon prior written notice to the Shareholders of such Series; or
(c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 2) or the DSTA; or
(d) With respect to any Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular Series, as the case may be), the Board of Trustees shall (in accordance with Section 3808 of the DSTA) pay, pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including including, without limitation, all contingent, conditional or unmatured claims and obligations known to the Trust, and all claims and obligations which are known to the Trust, but for which the identity of the claimant is unknown. If there are sufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of the Trust and/or associated with the applicable Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Any remaining assets (including, without limitation, cash, securities or any combination thereof) of the Trust and/or associated with the applicable Series of the Trust (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series of the Trust (or the particular Series, as the case may be) ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) held of record by the several Shareholders on the date for such dissolution distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes thereof, any remaining assets (including, without limitation, cash, securities or any combination thereof) of the Trust or associated with such Series, as applicable, shall be distributed to each Class of the Trust or such Series according to the net asset value computed for such Class and within such particular Class, shall be distributed ratably to the Shareholders of such Class according to the number of Shares of such Class held of record by the several Shareholders on the date for such dissolution distribution. Upon the completion of the winding up of the Trust, in accordance with Section 3808 of the DSTA, and the Trust’s termination, any one (1) Trustee shall execute, and cause to be filed, a certificate of cancellation, with the office of the Secretary of State of the State of Delaware in accordance with the provisions of Section 3810 of the DSTA.in
Appears in 4 contracts
Sources: Trust Agreement (Emerge ETF Trust), Agreement and Declaration of Trust (Franklin Investors Securities Trust), Agreement and Declaration of Trust (Franklin Fund Allocator Series)
Dissolution of Trust or Series. The Trust and each Series shall have perpetual existence, except that the Trust (or a particular Series) shall be dissolved:
(a) With respect to the Trust, (i) upon the vote of the holders of not less than a majority of the Shares of the Trust cast, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of the Trust, or (B) upon prior written notice to the Shareholders of the Trust; or
(b) With respect to a particular Series, (i) upon the vote of the holders of not less than a majority of the Shares of such Series cast, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of such Series, or (B) upon prior written notice to the Shareholders of such Series; or
(c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 2) or the DSTA; or
(d) With respect to any Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular Series, as the case may be), the Board shall of Trustees (in accordance with Section 3808 of the DSTA) pay, shall pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including all contingent, conditional conditional, or unmatured claims and obligations known to the Trust, and all claims and obligations which that are known to the Trust, Trust but for which the identity of the claimant is unknown. If there are sufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Any remaining assets (including, without limitation, cash, securities securities, or any combination thereof) of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series of the Trust (or the particular Series, as the case may be) ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) held of record by the several Shareholders on the date for such dissolution distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes thereof, any remaining assets (including, without limitation, cash, securities securities, or any combination thereof) of held with respect to the Trust or associated with such Series, as applicable, shall be distributed to each Class of the Trust or such Series according to the net asset value computed for such Class Class, and within such particular Class, shall be distributed ratably to the Shareholders of such Class according to the number of Shares of such Class held of record by the several Shareholders on the date for such dissolution distribution. Upon the completion of the winding up of the Trust, Trust in accordance with Section 3808 of the DSTA, and the Trust’s termination, any one (1) Trustee shall execute, execute and cause to be filed, filed a certificate of cancellation, cancellation with the office Office of the Secretary of State of the State of Delaware Delaware, in accordance with the provisions of Section 3810 of the DSTA.
Appears in 4 contracts
Sources: Agreement and Declaration of Trust (Dfa Investment Trust Co), Agreement and Declaration of Trust (Dimensional Emerging Markets Value Fund), Agreement and Declaration of Trust (Dfa Investment Trust Co)
Dissolution of Trust or Series. The Trust and each Series shall have perpetual existence, except that the Trust (or a particular Series) shall be dissolved:
(a) With respect to the Trust, (i) upon the vote of the holders of not less than a majority of the Shares of the Trust castentitled to vote, or (ii) at the discretion of the Board of Trustees, either (A) at any time there are no Shares outstanding of the Trust, or (B) upon at least thirty (30) days' prior written notice to the Shareholders of the Trust; or
(b) With respect to a particular Series, (i) upon the vote of the holders of not less than a majority of the Shares of such Series castentitled to vote, or (ii) at the discretion of the Board of Trustees, either (A) at any time there are no Shares outstanding of such Series, or (B) upon at least thirty (30) days' prior written notice to the Shareholders of such Series; or
(c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, VIII Section 2) or the DSTA; or
(d) With respect to any Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular Series, as the case may be), the Board of Trustees shall (in accordance with Section 3808 of the DSTA) pay, pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including all contingent, conditional or unmatured claims and obligations known to the Trust, and all claims and obligations which that are known to the Trust, but for which the identity of the claimant is unknown. If there are sufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series of the Trust (or the particular Series, as the case may be) ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) held of record by the several Shareholders Shareholders, on the date for such dissolution distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes thereof, any remaining assets (including, without limitation, cash, securities or any combination thereof) of the Trust or associated held with respect to such Series, as applicable, Series shall be distributed to each Class of the Trust or such Series according to the net asset value computed for such Class and within such particular Class, shall be distributed ratably to the Shareholders of such Class according to the number of Shares of such Class held of record by the several Shareholders on the date for such dissolution distribution. Upon the completion of the winding up of the Trust, Trust in accordance with Section 3808 of the DSTA, DSTA and the Trust’s its termination, any one (1) Trustee shall execute, and cause to be filed, a certificate of cancellation, with the office of the Secretary of State of the State of Delaware in accordance with the provisions of Section 3810 Sections 3810, 3811 and 3812 of the DSTA.
Appears in 4 contracts
Sources: Agreement and Declaration of Trust (MGI Funds), Agreement and Declaration of Trust (MGI Funds), Agreement and Declaration of Trust (Nakoma Mutual Funds)
Dissolution of Trust or Series. The Trust and each Series shall have perpetual existence, except that the Trust (or a particular Series) shall be dissolved:
(a) With respect to the Trust, (i) upon the vote of the holders of not less than a majority of the Shares of the Trust castentitled to vote, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of the Trust, or (B) upon at least 30 days prior written notice to the Shareholders of the Trust; or
(b) With respect to a particular Series, (i) upon the vote of the holders of not less than a majority of the Shares of such Series castentitled to vote, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of such Series, or (B) upon at least 30 days prior written notice to the Shareholders of such Series; or
(c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 2) or the DSTA; or
(d) With respect to any Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular Series, as the case may be), the Board of Trustees shall (in accordance with Section 3808 of the DSTA) pay, pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including all contingent, conditional or unmatured claims and obligations known to the Trust, and all claims and DT1 931951v4 08/11/11 obligations which are known to the Trust, but for which the identity of the claimant is unknown. If there are sufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series of the Trust (or the particular Series, as the case may be) ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) held of record by the several Shareholders on the date for such dissolution distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes thereof, any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust or associated with such Series, as applicable, shall be distributed to each Class of the Trust or such Series according to the net asset value computed for such Class and within such particular Class, shall be distributed ratably to the Shareholders of such Class according to the number of Shares of such Class held of record by the several Shareholders on the date for such dissolution distribution. Upon the completion of the winding up of the Trust, Trust in accordance with Section 3808 of the DSTA, DSTA and the Trust’s its termination, any one (1) Trustee shall execute, and cause to be filed, a certificate of cancellation, with the office of the Secretary of State of the State of Delaware in accordance with the provisions of Section 3810 of the DSTA.
Appears in 3 contracts
Sources: Trust Agreement (Manor Investment Funds Inc), Trust Agreement (Manor Investment Funds Inc), Trust Agreement (Manor Investment Funds Inc)
Dissolution of Trust or Series. The Trust and each Series shall have perpetual existence, except that the Trust (or a particular Series) shall be dissolved:
(a) With respect to the Trust, (i) upon the vote of the holders of not less than a majority of the Shares of the Trust castentitled to vote, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of the Trust, or (B) upon at least thirty (30) days' prior written notice to the Shareholders of the Trust; or
(b) With respect to a particular Series, (i) upon the vote of the holders of not less than a majority of the Shares of such Series castentitled to vote, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of such Series, or (B) upon at least thirty (30) days' prior written notice to the Shareholders of such Series; or
(c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 2) or the DSTA; or
(d) With respect to any each of the Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular Series, as the case may be), the Board of Trustees shall (in accordance with Section 3808 of the DSTA) pay, pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including all contingent, conditional or unmatured claims and obligations known to the Trust, and all claims and obligations which are known to the Trust, but for which the identity of the claimant is unknown. If there are sufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series of the Trust (or the particular Series, as the case may be) ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) held of record by the several Shareholders on the date for such dissolution distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes thereof, any remaining assets (including, without limitation, cash, securities or any combination thereof) of the Trust or associated held with respect to such Series, as applicable, Series shall be distributed to each Class of the Trust or such Series according to the net asset value computed for such Class and within such particular Class, shall be distributed ratably to the Shareholders of such Class according to the number of Shares of such Class held of record by the several Shareholders on the date for such dissolution distribution. Upon the completion of the winding up of the Trust, Trust in accordance with Section 3808 of the DSTA, DSTA and the Trust’s its termination, any one (1) Trustee shall execute, and cause to be filed, a certificate of cancellation, with the office of the Secretary of State of the State of Delaware in accordance with the provisions of Section 3810 of the DSTA.
Appears in 3 contracts
Sources: Agreement and Declaration of Trust (Gartmore Mutual Funds), Agreement and Declaration of Trust (Gartmore Variable Insurance Trust), Trust Agreement (California Investment Trust)
Dissolution of Trust or Series. The Trust and each Series shall have perpetual existence, except that the Trust (or a particular Series) shall be dissolved:
(a) With respect to the TrustTrust or a particular Series, (i) upon the vote of the holders Board of not less than a majority of the Shares of the Trust cast, or (ii) at the discretion of the Board either (A) at any time there are no Shares outstanding of the Trust, or (B) upon prior written notice to Trustees and the Shareholders of the TrustTrust or the particular Series, as applicable, as set forth in Section 1 of this Article VIII; or
(b) With respect to a particular Series, (i) upon the vote of the holders of not less than a majority of the Shares of such Series cast, or (ii) at the discretion of the Board either (A) at any time there are no Shares outstanding of such Series, or (B) upon prior written notice to the Shareholders of such Series; or
(c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 2) or the DSTA; or
(dc) With respect to any Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular Series, as the case may be), the Board Trustees shall (in accordance with Section 3808 of the DSTA) pay, pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including all contingent, conditional or unmatured claims and obligations known to the Trust, and all claims and obligations which are known to the Trust, but for which the identity of the claimant is unknown. If there are sufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series of the Trust (or the particular Series, as the case may be) ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) held of record by the several Shareholders on the date for such dissolution distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes thereof, any remaining assets (including, without limitation, cash, securities or any combination thereof) of the Trust or associated held with respect to such Series, as applicable, Series shall be distributed to each Class of the Trust or such Series according to the net asset value computed for such Class and within such particular Class, shall be distributed ratably to the Shareholders of such Class according to the number of Shares of such Class held of record by the several Shareholders on the date for such dissolution distribution. Upon the completion of the winding up of the Trust, Trust in accordance with Section 3808 of the DSTA, DSTA and the Trust’s its termination, any one (1) Trustee shall execute, and cause to be filed, a certificate of cancellation, with the office of the Secretary of State of the State of Delaware in accordance with the provisions of Section 3810 of the DSTA.
Appears in 3 contracts
Sources: Agreement and Declaration of Trust (Franklin Mutual Recovery Fund), Agreement and Declaration of Trust (Franklin Global Trust), Agreement and Declaration of Trust (Franklin Mutual Recovery Fund)
Dissolution of Trust or Series. The Unless dissolved as provided herein, the Trust and each Series shall have perpetual existence, except that the . The Trust (or a particular Series) shall may be dissolved:
(a) With respect to the Trust, (i) upon the dissolved at any time by vote of the holders of not less than a majority of the Shares of the Trust cast, entitled to vote or (ii) at the discretion of by the Board either (A) of Trustees by written notice to the Shareholders. Any Series may be dissolved at any time there are no Shares outstanding by vote of a majority of the Trust, Shares of that Series or (B) upon prior by the Board of Trustees by written notice to the Shareholders of the Trust; or
(b) With respect to a particular that Series, (i) upon the vote of the holders of not less than a majority of the Shares of such Series cast, or (ii) at the discretion of the Board either (A) at any time there are no Shares outstanding of such Series, or (B) upon prior written notice to the Shareholders of such Series; or
(c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 2) or the DSTA; or
(d) With respect to any Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular Series, as the case may be)Trust, the Board Trustees shall (in accordance with Section ss. 3808 of the DSTADBTA) pay, pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including all contingent, conditional or unmatured claims and obligations known to the Trust, and all claims and obligations which are known to the Trust, Trust but for which the identity of the claimant is unknown. If there are sufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be)Trust, such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be)Trust, such claims and obligations shall be paid or provided for in accordance with Article III, Section 6, according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Any remaining assets (including, including without limitation, cash, securities or any combination thereof) of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each such Series of the Trust (or the particular Seriesin accordance with Article III, as the case may be) Section 6, and ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) held of record by the several Shareholders on the record date for such dissolution distribution; provided. Upon dissolution of a particular Series, however, that if the Shares Trustees shall (in accordance with ss. 3808 of the DBTA) pay or make reasonable provision to pay all claims and obligations of the particular Series, including all contingent, conditional or unmatured claims and obligations known to the Trust, and all claims and obligations which are known to the Trust but for which the identity of the claimant is unknown. If there are sufficient assets held with respect to the particular Series, such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets held with respect to the particular Series, such claims and obligations shall be paid or a Series are divided into Classes thereofprovided for in accordance with Article III, any Section 6, according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Any remaining assets (including, including without limitation, cash, securities or any combination thereof) of held with respect to the Trust or associated with such Series, as applicable, particular Series shall be distributed to each Class of the Trust or such Series according to the net asset value computed for such Class and within such particular Class, shall be distributed ratably to the Shareholders of such Class the particular Series in accordance with Article III, Section 6, and ratably according to the number of Shares of such Class the particular Series held of record by the several Shareholders on the record date for such dissolution distribution. Upon the completion of the winding up of the Trust, in accordance with Section 3808 of the DSTA, and the Trust’s termination, any one (1) Trustee shall execute, and cause to be filed, a certificate of cancellation, with the office of the Secretary of State of the State of Delaware in accordance with the provisions of Section 3810 of the DSTA.
Appears in 2 contracts
Sources: Trust Agreement (Igam Group Funds), Trust Agreement (Fort Pitt Capital Funds)
Dissolution of Trust or Series. The Trust and each Series shall have perpetual existence, except that the Trust (or a particular Series) shall be dissolved:
(a) With respect to the Trust, (i) upon the vote of the holders of not less than a majority of the Shares of the Trust cast, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of the Trust, or (B) upon prior written notice to the Shareholders of the Trust; or
(b) With respect to a particular Series, (i) upon the vote of the holders of not less than a majority of the Shares of such Series cast, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of such Series, or (B) upon prior written notice to the Shareholders of such Series; or
(c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 2) or the DSTA; or
(d) With respect to any Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular Series, as the case may be), the Board shall of Trustees (in accordance with Section 3808 of the DSTA) pay, shall pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including all contingent, conditional conditional, or unmatured claims and obligations known to the Trust, and all claims and obligations which that are known to the Trust, Trust but for which the identity of the claimant is unknown. If there are sufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Any remaining assets (including, without limitation, cash, securities securities, or any combination thereof) of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series of the Trust (or the particular Series, as the case may be) ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) held of record by the several Shareholders on the date for such dissolution distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes thereof, any remaining assets (including, without limitation, cash, securities securities, or any combination thereof) of held with respect to the Trust or associated with such Series, as applicable, shall be distributed to each Class of the Trust or such Series according to the net asset value computed for such Class Class, and within such particular Class, shall be distributed ratably to the Shareholders of such Class according to the number of Shares of such Class held of record by the several Shareholders on the date for such dissolution distribution. Upon the completion of the winding up of the Trust, Trust in accordance with Section 3808 of the DSTA, DSTA and the Trust’s its termination, any one (1) Trustee shall execute, execute and cause to be filed, filed a certificate of cancellation, cancellation with the office of the Secretary of State of the State of Delaware Delaware, in accordance with the provisions of Section 3810 of the DSTA.
Appears in 2 contracts
Sources: Agreement and Declaration of Trust (AssetMark Funds II), Agreement and Declaration of Trust (Genworth Variable Insurance Trust)
Dissolution of Trust or Series. The Unless dissolved as provided herein, the Trust and each Series shall have perpetual existence, except that the . The Trust (or a particular Series) shall Series may be dissolved:
(a) With with respect to the Trust, (i) upon the at any time by vote of the holders of not less than a majority of the Shares of the Trust castentitled to vote, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of the Trust, or (B) upon prior written notice to the Shareholders Shareholder of the Trust; or;
(b) With with respect to a particular any Series, (i) upon the at any time by vote of the holders of not less than a majority of the Shares of such the Series castentitled to vote, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of such the Series, or (B) upon prior written notice to the Shareholders Shareholder of such the Series; or;
(c) With with respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 23) or the DSTA; or
(d) With with respect to any Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular Series, as the case may be), the Board Trustees shall (in accordance with Section 3808 withss.3808 of the DSTA) pay, pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including all contingent, conditional or unmatured claims and obligations known to the Trust, and all claims and obligations which are known to the Trust, Trust but for which the identity of the claimant is unknown. If there are sufficient assets of the Trust and/or associated held with the applicable respect to each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of the Trust and/or associated held with the applicable respect to each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Any remaining assets (including, including without limitation, cash, securities or any combination thereof) of the Trust and/or associated held with the applicable respect to each Series of the Trust (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series of the Trust (or the particular such Series, as the case may be) ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) held of record by the several Shareholders on the record date for such dissolution distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes classes thereof, any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust or associated with such Series, as applicable, shall be distributed to each Class class of the Trust or such Series according to the net asset value computed for such Class class and within such particular Classclass, shall be distributed ratably to the Shareholders of such Class class according to the number of Shares of such Class class held of record by the several Shareholders on the date for such dissolution distribution. Upon the completion of the winding up of the Trust, Trust in accordance with Section 3808 of the DSTA, DSTA and the Trust’s its termination, any one (1) Trustee shall execute, and cause to be filed, a certificate of cancellation, with the office of the Secretary of State of the State of Delaware in accordance with the provisions of Section 3810 of the DSTA.
Appears in 2 contracts
Sources: Agreement and Declaration of Trust (Aberdeen Funds), Agreement and Declaration of Trust (Aberdeen Funds)
Dissolution of Trust or Series. The Trust and each Series shall have perpetual existence, except that the Trust (or a particular Series) shall be dissolved:
(a) With respect to the TrustTrust or a particular Series, (i) only upon the vote of the holders of not less than a majority eighty percent (80%) of the Shares of the Trust cast, or (ii) at the discretion of the Board either (A) at any time there are no Shares outstanding of the Trust, or (B) upon prior written notice to the Shareholders of the Trust; orTrustees;
(b) With respect to a particular Series, (i) upon the vote of the holders of not less than a majority of the Shares of such Series cast, or (ii) at the discretion of the Board either (A) at any time there are no Shares outstanding of such Series, or (B) upon prior written notice to the Shareholders of such Series; or
(c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 2) or the DSTA; or
(dc) With respect to any Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular Series, as the case may be), the Board Trustees shall (in accordance with Section 3808 of the DSTA) payhave the power to fulfill or discharge the contracts of the Trust, collect its assets, sell, convey, assign, exchange, merge where the Trust is not the survivor, transfer or otherwise dispose of all or any part of the remaining Trust Property to one or more Persons at public or private sale for consideration which may consist in whole or in part in cash, securities or other property of any kind, pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including all contingent, conditional or unmatured claims and obligations known to the Trust, and all claims and obligations which are known to the Trust, but for which the identity of the claimant is unknown; provided, however, that any sale, conveyance, assignment, exchange, merger in which the Trust is not the survivor, transfer or other disposition of all or substantially all of the Trust Property of the Trust shall require approval of the principal terms of the transaction and the nature and amount of the consideration by both the Board of Trustees and by Shareholders with not less than seventy-five percent (75%) of the Shares, unless eighty percent (80%) of the Trustees approved such principal terms and consideration, in which case a vote of a majority of the outstanding voting securities shall be required. If there are sufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series of the Trust (or the particular Series, as the case may be) ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) held of record by the several Shareholders on the date for such dissolution distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes thereof, any remaining assets (including, without limitation, cash, securities or any combination thereof) of the Trust or associated held with respect to such Series, as applicable, Series shall be distributed to each Class of the Trust or such Series according to the net asset value computed for such Class and within such particular Class, shall be distributed ratably to the Shareholders of such Class according to the number of Shares of such Class held of record by the several Shareholders on the date for such dissolution distribution. Upon the completion of the winding up of the Trust, Trust in accordance with Section 3808 of the DSTA, DSTA and the Trust’s its termination, any one (1) Trustee shall execute, and cause to be filed, a certificate of cancellation, with the office of the Secretary of State of the State of Delaware in accordance with the provisions of Section 3810 of the DSTA.
Appears in 2 contracts
Sources: Agreement and Declaration of Trust (Delaware Enhanced Global Dividend & Income Fund), Agreement and Declaration of Trust (Delaware Investments Enhanced Global Dividend & Income Fund)
Dissolution of Trust or Series. The Trust and each Series shall have perpetual existence, except that the Trust (or a particular Series) shall be dissolveddissolved upon:
(a) With respect to the Trust, (i) upon the vote of the holders of not less than a majority of the Shares of the Trust cast, entitled to vote or (ii) at the discretion of by the Board either (A) at any time there are no Shares outstanding of the Trust, or (B) upon prior Trustees by written notice to the Shareholders of the TrustShareholders; or
(b) With respect to a particular Series, (i) upon the vote of the holders of not less than a majority of the Shares of such that Series cast, entitled to vote or (ii) at the discretion of by the Board either (A) at any time there are no Shares outstanding of such Series, or (B) upon prior Trustees by written notice to the Shareholders of such that Series; or
(c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 2) or the DSTADBTA; or
(d) With respect to any Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular Series, as the case may be), the Board Trustees shall (in accordance with Section 3808 of the DSTADBTA) pay, pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including all contingent, conditional or unmatured claims and obligations known to the Trust, and all claims and obligations which are known to the Trust, Trust but for which the identity of the claimant is unknown. If there are sufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Any remaining assets (including, including without limitation, cash, securities or any combination thereof) of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series of the Trust (or the particular Series, as the case may be) ), ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) ), held of record by the several Shareholders on the record date for such dissolution distribution; provided, provided however, that if the Shares of the Trust or a Series are divided into Classes classes thereof, any remaining assets (including, including without limitation, cash, securities or any combination thereof) of the Trust or associated held with respect to such Series, as applicable, Series shall be distributed to each Class class of the Trust or such Series according to the net asset value computed for such Class class and within such particular Classclass, shall be distributed ratably to the Shareholders of such Class class according to the number of Shares of such Class class held of record by the several Shareholders on the record date for such dissolution distribution. Upon the completion of the winding up of the Trust, Trust in accordance with Section 3808 of the DSTA, DBTA and the Trust’s its termination, any one (1) Trustee all of the Trustees shall execute, and cause to be filed, a certificate of cancellation, with the office Office of the Secretary of State of the State of Delaware in accordance with the provisions of Section 3810 of the DSTADBTA.
Appears in 2 contracts
Sources: Trust Agreement (Assetmark Funds), Trust Agreement (Assetmark Funds)
Dissolution of Trust or Series. The Unless dissolved as provided herein, the Trust and each Series shall have perpetual existence, except that the . The Trust (or a particular Series) shall Series may be dissolved:
(a) With with respect to the Trust, (i) upon the at any time by vote of the holders of not less than a majority of the Shares of the Trust castentitled to vote, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of the Trust, or (B) upon prior written notice to the Shareholders Shareholder of the Trust; or;
(b) With with respect to a particular any Series, (i) upon the at any time by vote of the holders of not less than a majority of the Shares of such the Series castentitled to vote, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of such the Series, or (B) upon prior written notice to the Shareholders Shareholder of such the Series; or;
(c) With with respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 23) or the DSTA; or
(d) With with respect to any Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular Series, as the case may be), the Board Trustees shall (in accordance with Section § 3808 of the DSTA) pay, pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including all contingent, conditional or unmatured claims and obligations known to the Trust, and all claims and obligations which are known to the Trust, Trust but for which the identity of the claimant is unknown. If there are sufficient assets of the Trust and/or associated held with the applicable respect to each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of the Trust and/or associated held with the applicable respect to each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Any remaining assets (including, including without limitation, cash, securities or any combination thereof) of the Trust and/or associated held with the applicable respect to each Series of the Trust (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series of the Trust (or the particular such Series, as the case may be) ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) held of record by the several Shareholders on the record date for such dissolution distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes classes thereof, any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust or associated with such Series, as applicable, shall be distributed to each Class class of the Trust or such Series according to the net asset value computed for such Class class and within such particular Classclass, shall be distributed ratably to the Shareholders of such Class class according to the number of Shares of such Class class held of record by the several Shareholders on the date for such dissolution distribution. Upon the completion of the winding up of the Trust, Trust in accordance with Section 3808 of the DSTA, DSTA and the Trust’s its termination, any one (1) Trustee shall execute, and cause to be filed, a certificate of cancellation, with the office of the Secretary of State of the State of Delaware in accordance with the provisions of Section 3810 of the DSTA.
Appears in 2 contracts
Sources: Agreement and Declaration of Trust (Abrdn Funds), Agreement and Declaration of Trust (Abrdn Funds)
Dissolution of Trust or Series. The Trust and each Series shall have perpetual existence, except that the Trust (or a particular Series) shall be dissolved:
(a) With respect to the Trust, (i) upon the vote of the holders of not less than a majority of the Shares of the Trust cast, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of the Trust, or (B) upon prior written notice to the Shareholders of the Trust; or
(b) With respect to a particular Series, (i) upon the vote of the holders of not less than a majority of the Shares of such Series cast, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of such Series, or (B) upon prior written notice to the Shareholders of such Series; or
(c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 2) or the DSTA; or
(d) With respect to any Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular Series, as the case may be), the Board shall of Trustees (in accordance with Section 3808 of the DSTA) pay, shall pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including all contingent, conditional conditional, or unmatured claims and obligations known to the TrustTrust and/or each Series (or the particular Series, as the case may be), and all claims and obligations which that are known to the TrustTrust and/or each Series (or the particular Series, as the case may be) but for which the identity of the claimant is unknown. If there are sufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Any remaining assets (including, without limitation, cash, securities securities, or any combination thereof) of held with respect to the Trust and/or associated with the applicable Series of the Trust each (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series of the Trust (or the particular Series, as the case may be) ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) held of record by the several Shareholders on the date for such dissolution distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes thereof, any remaining assets (including, without limitation, cash, securities securities, or any combination thereof) of held with respect to the Trust or associated with such Series, as applicable, shall be distributed to each Class of the Trust or such Series according to the net asset value computed for such Class Class, and within such particular Class, shall be distributed ratably to the Shareholders of such Class according to the number of Shares of such Class held of record by the several Shareholders on the date for such dissolution distribution. Upon the completion of the winding up of the Trust, Trust in accordance with Section 3808 of the DSTA, and the Trust’s termination, any one (1) Trustee shall execute, execute and cause to be filed, filed a certificate of cancellation, cancellation with the office Office of the Secretary of State of the State of Delaware Delaware, in accordance with the provisions of Section 3810 of the DSTA.
Appears in 2 contracts
Sources: Agreement and Declaration of Trust (Allegiant Advantage Funds), Trust Agreement (Allegiant Funds)
Dissolution of Trust or Series. The Trust and each Series shall have perpetual existence, except that the Trust (or a particular Series) shall be dissolved:
(a) With respect to the Trust, (i) upon the vote of the holders of not less than a majority of the Shares of the Trust cast, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of the Trust, or (B) upon prior written notice to the Shareholders of the Trust; or
(b) With respect to a particular Series, (i) upon the vote of the holders of not less than a majority of the Shares of such Series cast, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of such Series, or (B) upon prior written notice to the Shareholders of such Series; or
(c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 2) or the DSTA; or
(d) With respect to any Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular Series, as the case may be), the Board of Trustees shall (in accordance with Section 3808 of the DSTA) pay, pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including including, without limitation, all contingent, conditional or unmatured claims and obligations known to the Trust, and all claims and obligations which are known to the Trust, but for which the identity of the claimant is unknown. If there are sufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series of the Trust (or the particular Series, as the case may be) ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) held of record by the several Shareholders on the date for such dissolution distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes thereof, any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust or associated with such Series, as applicable, shall be distributed to each Class of the Trust or such Series according to the net asset value computed for such Class and within such particular Class, shall be distributed ratably to the Shareholders of such Class according to the number of Shares of such Class held of record by the several Shareholders on the date for such dissolution distribution. Upon the completion of the winding up of the Trust, Trust in accordance with Section 3808 of the DSTA, DSTA and the Trust’s its termination, any one (1) Trustee shall execute, and cause to be filed, a certificate of cancellation, with the office of the Secretary of State of the State of Delaware in accordance with the provisions of Section 3810 of the DSTA.. In connection with the dissolution and liquidation of the Trust or the termination of any Series or any Class, the Trustees may provide for the establishment and utilization of a liquidating trust or similar vehicle. 31 # 3254758 v. 1
Appears in 1 contract
Sources: Agreement and Declaration of Trust (Franklin Templeton Money Fund Trust)
Dissolution of Trust or Series. The Trust and each Series shall have perpetual existence, except that the Trust (or a particular Series) shall be dissolved:
(a) With respect to the Trust, (i) upon the vote of the holders of not less than a majority of the Shares of the Trust cast, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of the Trust, or (B) upon prior written notice to the Shareholders of the Trust; or
(b) With respect to a particular Series, (i) upon the vote of the holders of not less than a majority of the Shares of such Series cast, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of such Series, or (B) upon prior written notice to the Shareholders of such Series; or
(c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 2) or the DSTA; or
(d) With respect to any Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular Series, as the case may be), the Board of Trustees shall (in accordance with Section 3808 of the DSTA) pay, pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including including, without limitation, all contingent, conditional or unmatured claims and obligations known to the Trust, and all claims and obligations which are known to the Trust, but for which the identity of the claimant is unknown. If there are sufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series of the Trust (or the particular Series, as the case may be) ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) held of record by the several Shareholders on the date for such dissolution distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes thereof, any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust or associated with such Series, as applicable, shall be distributed to each Class of the Trust or such Series according to the net asset value computed for such Class and within such particular Class, shall be distributed ratably to the Shareholders of such Class according to the number of Shares of such Class held of record by the several Shareholders on the date for such dissolution distribution. Upon the completion of the winding up of the Trust, Trust in accordance with Section 3808 of the DSTA, DSTA and the Trust’s its termination, any one (1) Trustee shall execute, and cause to be filed, a certificate of cancellation, with the office of the Secretary of State of the State of Delaware in accordance with the provisions of Section 3810 of the DSTA.. In connection with the dissolution and liquidation of the Trust or the termination of any Series or any Class, the Trustees may provide for the establishment and utilization of a liquidating trust or similar vehicle. 31 # 3254524 v. 1
Appears in 1 contract
Sources: Agreement and Declaration of Trust (Franklin Gold & Precious Metals Fund)
Dissolution of Trust or Series. The Trust and each Series shall have perpetual existence, except that the Trust (or a particular Series) shall be dissolved:
(a) With respect to the Trust, (i) upon the vote of the holders of not less than approval by a majority of votes cast at a meeting of the Shares Shareholders of the Trust, provided a quorum of Shareholders of the Trust castis present, or by action of the Shareholders of the Trust by written consent without a meeting pursuant to Article V, Section 3, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of the Trust, or (B) upon prior written notice to the Shareholders of the Trust; or
(b) With respect to a particular Series, (i) upon the vote of the holders of not less than approval by a majority of votes cast at a meeting of the Shares Shareholders of such Series, provided a quorum of Shareholders of such Series castis present, or by action of the Shareholders of such Series by written consent without a meeting pursuant to Article V, Section 3, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of such Series, or (B) upon prior written notice to the Shareholders of such Series; or
(c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 2) or the DSTA; oror the Trust.
(d) With respect to any Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular Series, as the case may be), the Board of Trustees shall (in accordance with Section 3808 of the DSTA) pay, pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including all contingent, conditional or unmatured claims and obligations known to the Trust, and all claims and obligations which are known to the Trust, but for which the identity of the claimant is unknown. If there are sufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If 32 there are insufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series of the Trust (or the particular Series, as the case may be) ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) held of record by the several Shareholders on the date for such dissolution distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes thereof, any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust or associated with such Series, as applicable, shall be distributed to each Class of the Trust or such Series according to the net asset value computed for such Class and within such particular Class, shall be distributed ratably to the Shareholders of such Class according to the number of Shares of such Class held of record by the several Shareholders on the date for such dissolution distribution. Upon the completion of the winding up of the Trust, Trust in accordance with Section 3808 of the DSTA, DSTA and the Trust’s its termination, any one (1) Trustee shall execute, and cause to be filed, a certificate of cancellation, with the office of the Secretary of State of the State of Delaware in accordance with the provisions of Section 3810 of the DSTA. In connection with the dissolution and liquidation of the Trust or any Series, and in connection with the termination of any Class of Shares, the Board of Trustees may provide for the establishment of a liquidating trust or similar vehicle.
Appears in 1 contract
Dissolution of Trust or Series. The Trust and each Series shall have perpetual existence, except that the Trust (or a particular Series) shall be dissolved:
(a) With respect to the Trust, (i) upon the vote of the holders of not less than a majority of the Shares of the Trust cast, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of the Trust, or (B) upon prior written notice to the Shareholders of the Trust; or
(b) With respect to a particular Series, (i) upon the vote of the holders of not less than a majority of the Shares of such Series cast, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of such Series, or (B) upon prior written notice to the Shareholders of such Series; or
(c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 2) or the DSTA; or
(d) With respect to any Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular Series, as the case may be), the Board shall of Trustees (in accordance with Section 3808 of the DSTA) pay, shall pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including all contingent, conditional conditional, or unmatured claims and obligations known to the Trust, and all claims and obligations which that are known to the Trust, Trust but for which the identity of the claimant is unknown. If there are sufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Any remaining assets (including, without limitation, cash, securities securities, or any combination thereof) of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series of the Trust (or the particular Series, as the case may be) ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) held of record by the several Shareholders on the date for such dissolution distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes thereof, any remaining assets (including, without limitation, cash, securities securities, or any combination thereof) of held with respect to the Trust or associated with such Series, as applicable, shall be distributed to each Class of the Trust or such Series according to the net asset value computed for such Class Class, and within such particular Class, shall be distributed ratably to the Shareholders of such Class according to the number of Shares of such Class held of record by the several Shareholders on the date for such dissolution distribution. Upon the completion of the winding up of the Trust, Trust in accordance with Section 3808 of the DSTA, DSTA and the Trust’s its termination, any one (1) Trustee shall execute, execute and cause to be filed, filed a certificate of cancellation, cancellation with the office Office of the Secretary of State of the State of Delaware Delaware, in accordance with the provisions of Section 3810 of the DSTA.
Appears in 1 contract
Sources: Agreement and Declaration of Trust (Genworth Variable Insurance Trust)
Dissolution of Trust or Series. The Trust and each Series shall have perpetual existence, except that the Trust (or a particular Series) shall be dissolved:
(a) With respect to the Trust, (i) upon the vote of the holders of not less than a majority of the Shares of the Trust cast, entitled to vote or (ii) at the discretion of the Board either (A) of Trustees at any time there are no Shares outstanding of the Trust, or (B) upon prior written notice to the Shareholders of the Trust; or
(b) With respect to a particular Series, (i) upon the vote of the holders of not less than a majority of the Shares of such that Series cast, entitled to vote or (ii) at the discretion of the Board either (A) of Trustees at any time there are no Shares outstanding of such Series, or (B) upon prior written notice to the Shareholders of such that Series; or
(c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 2) or the DSTADBTA; or
(d) With respect to any Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular Series, as the case may be), the Board of Trustees shall (in accordance with Section 3808 of the DSTADBTA) pay, pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including all contingent, conditional or unmatured claims and obligations known to the Trust, and all claims and obligations which are known to the Trust, but for which the identity of the claimant is unknown. If there are sufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefortherefore. Any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series of the Trust (or the particular Series, as the case may be) ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) held of record by the several Shareholders on the date for such dissolution distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes classes thereof, any remaining assets (including, without limitation, cash, securities or any combination thereof) of the Trust or associated held with respect to such Series, as applicable, Series shall be distributed to each Class class of the Trust or such Series according to the net asset value computed for such Class class and within such particular Classclass, shall be distributed ratably to the Shareholders of such Class class according to the number of Shares of such Class class held of record by the several Shareholders on the date for such dissolution distribution. Upon the completion of the winding up of the Trust, Trust in accordance with Section 3808 of the DSTA, DBTA and the Trust’s its termination, any one (1) Trustee shall execute, and cause to be filed, a certificate of cancellation, with the office of the Secretary of State of the State of Delaware in accordance with the provisions of Section 3810 of the DSTADBTA.
Appears in 1 contract
Sources: Trust Agreement (Templeton Developing Markets Trust)
Dissolution of Trust or Series. The Trust and each Series shall have perpetual existence, except that the Trust (or a particular Series) shall be dissolved:
(a) With respect to the Trust, (i) upon the vote of the holders of not less than a majority of the Shares of the Trust cast, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of the Trust, or (B) upon prior written notice to the Shareholders of the Trust; or
(b) With respect to a particular Series, (i) upon the vote of the holders of not less than a majority of the Shares of such Series cast, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of such Series, or (B) upon prior written notice to the Shareholders of such Series; or
(c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 2) or the DSTA; or
(d) With respect to any Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular Series, as the case may be), the Board of Trustees shall (in accordance with Section 3808 of the DSTA) pay, pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including including, without limitation, all contingent, conditional or unmatured claims and obligations known to the Trust, and all claims and obligations which are known to the Trust, but for which the identity of the claimant is unknown. If there are sufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series of the Trust (or the particular Series, as the case may be) ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) held of record by the several Shareholders on the date for such dissolution distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes thereof, any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust or associated with such Series, as applicable, shall be distributed to each Class of the Trust or such Series according to the net asset value computed for such Class and within such particular Class, shall be distributed ratably to the Shareholders of such Class according to the number of Shares of such Class held of record by the several Shareholders on the date for such dissolution distribution. Upon the completion of the winding up of the Trust, Trust in accordance with Section 3808 of the DSTA, DSTA and the Trust’s its termination, any one (1) Trustee shall execute, and cause to be filed, a certificate of cancellation, with the office of the Secretary of State of the State of Delaware in accordance with the provisions of Section 3810 of the DSTA.. In connection with the dissolution and liquidation of the Trust or the termination of any Series or any Class, the Trustees may provide for the establishment and utilization of a liquidating trust or similar vehicle. 31 # 3254380 v. 1
Appears in 1 contract
Sources: Agreement and Declaration of Trust (Franklin Federal Tax Free Income Fund)
Dissolution of Trust or Series. The Trust and each Series shall have perpetual existence, except that the Trust (or a particular Series) shall be dissolved:
(a) With respect to the Trust, (i) upon the vote of the holders of not less than a majority of the Shares of the Trust castentitled to vote, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of the Trust, or (B) upon at least 30 days prior written notice to the Shareholders of the Trust; or
(b) With respect to a particular Series, (i) upon the vote of the holders of not less than a majority of the Shares of such Series castentitled to vote, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of such Series, or (B) upon at least 30 days prior written notice to the Shareholders of such Series; or
(c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 2) or the DSTA; or
(d) With respect to any Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular Series, as the case may be), the Board of Trustees shall (in accordance with Section 3808 of the DSTA) pay, pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including all contingent, conditional or unmatured claims and obligations known to the Trust, and all claims and obligations which are known to the Trust, but for which the identity of the claimant is unknown. If there are sufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series of the Trust (or the particular Series, as the case may be) ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) held of record by the several Shareholders on the date for such dissolution distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes thereof, any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust or associated with such Series, as applicable, shall be distributed to each Class of the Trust or such Series according to the net asset value computed for such Class and within such particular Class, shall be distributed ratably to the Shareholders of such Class according to the number of Shares of such Class held of record by the several Shareholders on the date for such dissolution distribution. Upon the completion of the winding up of the Trust, Trust in accordance with Section 3808 of the DSTA, DSTA and the Trust’s its termination, any one (1) Trustee shall execute, and cause to be filed, a certificate of cancellation, with the office of the Secretary of State of the State of Delaware in accordance with the provisions of Section 3810 of the DSTA.
Appears in 1 contract
Sources: Trust Agreement (Philadelphia Investment Partners New Generation Fund)
Dissolution of Trust or Series. The Unless dissolved as provided herein, the Trust and each Series shall have perpetual existence, except that the . The Trust (or a particular Series) shall may be dissolved:
(a) With respect to the Trust, (i) upon the dissolved at any time by vote of the holders of not less than a majority of the outstanding Shares of the Trust cast, entitled to vote or (ii) at the discretion of by the Board either (A) at any time there are no Shares outstanding of the Trust, or (B) upon prior Trustees by written notice to the Shareholders of the Trust; or
(b) With respect to a particular Series, (i) upon the Holders. Any Series may be dissolved at any time by vote of the holders of not less than a majority of the outstanding Shares of such the Series cast, or (ii) at the discretion of by the Board either (A) at any time there are no Shares outstanding of such Series, or (B) upon prior Trustees by written notice to the Shareholders of such Series; or
(c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 2) or the DSTA; or
(d) With respect to any Series, upon any event that causes the dissolution Holders of the TrustSeries. Upon dissolution of the Trust (or a particular Series, as the case may be)Trust, the Board Trustees shall (in accordance with Section ss. 3808 of the DSTAAct) pay, pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including all contingent, conditional or unmatured claims and obligations known to the Trust, and all claims and obligations which are known to the Trust, Trust but for which the identity of the claimant is unknown. If there are sufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be)Trust, such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be)Trust, such claims and obligations shall be paid or provided for in accordance with Article III, Section 3.06, according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Any remaining assets (including, including without limitation, cash, securities or any combination thereof) of the Trust and/or associated held with the applicable Series of the Trust (or the particular Series, as the case may be) shall be distributed respect to the Shareholders of the Trust and/or each Series of the Trust (or shall be distributed to the particular SeriesHolders of the Trust and/or such Series in accordance with Article III, as the case may be) Section 3.06, and ratably according to the number of outstanding Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) held of record by the several Shareholders Holders on the record date for such dissolution distribution; provided. Upon dissolution of a particular Series, however, that if the Shares Trustees shall (in accordance with ss. 3808 of the Act) pay or make reasonable provision to pay all claims and obligations of the particular Series, including all contingent, conditional or unmatured claims and obligations known to the Trust, and all claims and obligations which are known to the Trust but for which the identity of the claimant is unknown. If there are sufficient assets held with respect to the particular Series, such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets held with respect to the particular Series, such claims and obligations shall be paid or a Series are divided into Classes thereofprovided for in accordance with Article III, any Section 3.06, according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Any remaining assets (including, including without limitation, cash, securities or any combination thereof) of held with respect to the Trust or associated with such Series, as applicable, particular Series shall be distributed to each Class the Holders of the Trust or such particular Series according to the net asset value computed for such Class in accordance with Article III, Section 3.06, and within such particular Class, shall be distributed ratably to the Shareholders of such Class according to the number of outstanding Shares of such Class the particular Series held of record by the several Shareholders Holders on the record date for such dissolution distribution. Upon the completion of the winding up of the Trust, in accordance with Section 3808 of the DSTA, and the Trust’s termination, any one (1) Trustee shall execute, and cause to be filed, a certificate of cancellation, with the office of the Secretary of State of the State of Delaware in accordance with the provisions of Section 3810 of the DSTA.
Appears in 1 contract
Sources: Trust Agreement (Franklin Floating Rate Master Trust)
Dissolution of Trust or Series. The Trust and each Series shall have perpetual existence, except that the Trust (or a particular Series) shall be dissolved:
(a) With respect to the Trust, (i) upon the vote of the holders of not less than a majority of the Shares of the Trust cast, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of the Trust, or (B) upon prior written notice to the Shareholders of the Trust; or
(b) With respect to a particular Series, (i) upon the vote of the holders of not less than a majority of the Shares of such Series cast, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of such Series, or (B) upon prior written notice to the Shareholders of such Series; or
(c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 2) or the DSTA; or
(d) With respect to any Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular Series, as the case may be), the Board of Trustees shall (in accordance with Section 3808 of the DSTA) pay, pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including including, without limitation, all contingent, conditional or unmatured claims and obligations known to the Trust, and all claims and obligations which are known to the Trust, but for which the identity of the claimant is unknown. If there are sufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series of the Trust (or the particular Series, as the case may be) ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) held of record by the several Shareholders on the date for such dissolution distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes thereof, any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust or associated with such Series, as applicable, shall be distributed to each Class of the Trust or such Series according to the net asset value computed for such Class and within such particular Class, shall be distributed ratably to the Shareholders of such Class according to the number of Shares of such Class held of record by the several Shareholders on the date for such dissolution distribution. Upon the completion of the winding up of the Trust, Trust in accordance with Section 3808 of the DSTA, DSTA and the Trust’s its termination, any one (1) Trustee shall execute, and cause to be filed, a certificate of cancellation, with the office of the Secretary of State of the State of Delaware in accordance with the provisions of Section 3810 of the DSTA.. In connection with the dissolution and liquidation of the Trust or the termination of any Series or any Class, the Trustees may provide for the establishment and utilization of a liquidating trust or similar vehicle. 31 # 3255169 v. 1
Appears in 1 contract
Sources: Agreement and Declaration of Trust (Templeton Global Smaller Companies Fund)
Dissolution of Trust or Series. The Trust and each Series shall have perpetual existence, except that the Trust (or a particular Series) shall be dissolved:
(a) With respect to the Trust, (i) upon the vote of the holders of not less than a majority of the Shares of the Trust castentitled to vote, or (ii) at the discretion of the Board of Trustees, either (A) at any time there are no Shares outstanding of the Trust, or (B) upon at least thirty (30) days’ prior written notice to the Shareholders of the Trust; or
(b) With respect to a particular Series, (i) upon the vote of the holders of not less than a majority of the Shares of such Series castentitled to vote, or (ii) at the discretion of the Board of Trustees, either (A) at any time there are no Shares outstanding of such Series, or (B) upon at least thirty (30) days’ prior written notice to the Shareholders of such Series; or
(c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, VIII Section 2) or the DSTA; or
(d) With respect to any Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular Series, as the case may be), the Board of Trustees shall (in accordance with Section 3808 of the DSTA) pay, pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including all contingent, conditional or unmatured claims and obligations known to the Trust, and all claims and obligations which that are known to the Trust, but for which the identity of the claimant is unknown. If there are sufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series of the Trust (or the particular Series, as the case may be) ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) held of record by the several Shareholders Shareholders, on the date for such dissolution distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes thereof, any remaining assets (including, without limitation, cash, securities or any combination thereof) of the Trust or associated held with respect to such Series, as applicable, Series shall be distributed to each Class of the Trust or such Series according to the net asset value computed for such Class and within such particular Class, shall be distributed ratably to the Shareholders of such Class according to the number of Shares of such Class held of record by the several Shareholders on the date for such dissolution distribution. Upon the completion of the winding up of the Trust, Trust in accordance with Section 3808 of the DSTA, DSTA and the Trust’s its termination, any one (1) Trustee shall execute, and cause to be filed, a certificate of cancellation, with the office of the Secretary of State of the State of Delaware in accordance with the provisions of Section 3810 Sections 3810, 3811 and 3812 of the DSTA.
Appears in 1 contract
Sources: Agreement and Declaration of Trust (Keystone Mutual Funds)
Dissolution of Trust or Series. The Trust and each Series shall have perpetual existence, except that the Trust (or a particular Series) shall be dissolveddissolved upon:
(a) With respect to the Trust, (i) upon the vote of the holders of not less than a majority of the Shares of the Trust cast, entitled to vote or (ii) at the discretion of by the Board either (A) at any time there are no Shares outstanding of the Trust, or (B) upon prior Trustees by written notice to the Shareholders of the TrustShareholders; or
(b) With respect to a particular Series, (i) upon the vote of the holders of not less than a majority of the Shares of such that Series cast, entitled to vote or (ii) at the discretion of by the Board either (A) at any time there are no Shares outstanding of such Series, or (B) upon prior Trustees by written notice to the Shareholders of such that Series; or
(c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 2) or the DSTADBTA; or
(d) With respect to any Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular Series, as the case may be), the Board Trustees shall (in accordance with Section 3808 of the DSTADBTA) pay, pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including all contingent, conditional or unmatured claims and obligations known to the Trust, and all claims and obligations which are known to the Trust, Trust but for which the identity of the claimant is unknown. If there are sufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Any remaining assets (including, including without limitation, cash, securities or any combination thereof) of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series of the Trust (or the particular Series, as the case may be) ), ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) ), held of record by the several Shareholders on the record date for such dissolution distribution; provided, provided however, that if the Shares of the Trust or a Series are divided into Classes classes thereof, any remaining assets (including, including without limitation, cash, securities or any combination thereof) of the Trust or associated held with respect to such Series, as applicable, Series shall be distributed to each Class class of the Trust or such Series according to the net asset value computed for such Class class and within such particular Classclass, shall be distributed ratably to the Shareholders of such Class class according to the number of Shares of such Class class held of record by the several Shareholders on the record date for such dissolution distribution. Upon the completion of the winding up of the Trust, Trust in accordance with Section 3808 of the DSTA, DBTA and the Trust’s its termination, any one (1) Trustee not less than a majority of the Trustees shall execute, and cause to be filed, a certificate of cancellation, with the office Office of the Secretary of State of the State of Delaware in accordance with the provisions of Section 3810 of the DSTADBTA.
Appears in 1 contract
Sources: Trust Agreement (Templeton Capital Accumulator Fund Inc)
Dissolution of Trust or Series. The Unless dissolved as provided herein, the Trust and each Series shall have perpetual existence, except that the . The Trust (or a particular Series) shall Series may be dissolved:
(a) With with respect to the Trust, (i) upon the at any time by vote of the holders of not less than a majority of the Shares of the Trust castentitled to vote, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of the Trust, or (B) upon prior written notice to the Shareholders Shareholder of the Trust; or;
(b) With with respect to a particular any Series, (i) upon the at any time by vote of the holders of not less than a majority of the Shares of such the Series castentitled to vote, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of such the Series, or (B) upon prior written notice to the Shareholders Shareholder of such the Series; or;
(c) With with respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 23) or the DSTA; or
(d) With with respect to any Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular Series, as the case may be), the Board Trustees shall (in accordance with Section § 3808 of the DSTA) pay, pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including all contingent, conditional or unmatured claims and obligations known to the Trust, and all claims and obligations which are known to the Trust, Trust but for which the identity of the claimant is unknown. If there are sufficient assets of the Trust and/or associated held with the applicable respect to each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of the Trust and/or associated held with the applicable respect to each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Any remaining assets (including, including without limitation, cash, securities or any combination thereof) of the Trust and/or associated held with the applicable respect to each Series of the Trust (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series of the Trust (or the particular such Series, as the case may be) ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) held of record by the several Shareholders on the record date for such dissolution distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes classes thereof, any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust or associated with such Series, as applicable, shall be distributed to each Class class of the Trust or such Series according to the net asset value computed for such Class class and within such particular Classclass, shall be distributed ratably to the Shareholders of such Class class according to the number of Shares of such Class class held of record by the several Shareholders on the date for such dissolution distribution. Upon the completion of the winding up of the Trust, Trust in accordance with Section 3808 of the DSTA, DSTA and the Trust’s its termination, any one (1) Trustee shall execute, and cause to be filed, a certificate of cancellation, with the office of the Secretary of State of the State of Delaware in accordance with the provisions of Section 3810 of the DSTA.
Appears in 1 contract
Sources: Agreement and Declaration of Trust (Aberdeen Funds)
Dissolution of Trust or Series. The Trust and each Series shall have perpetual existence, except that the Trust (or a particular Series) shall be dissolved:
(a) With respect to the Trust, (i) upon the vote of the holders of not less than a majority of the Shares of the Trust cast, entitled to vote or (ii) at the discretion of the Board either (A) of Trustees at any time there are no Shares outstanding of the Trust, or (B) upon prior written notice to the Shareholders of the Trust; or
(b) With respect to a particular Series, (i) upon the vote of the holders of not less than a majority of the Shares of such that Series cast, entitled to vote or (ii) at the discretion of the Board either (A) of Trustees at any time there are no Shares outstanding of such Series, or (B) upon prior written notice to the Shareholders of such that Series; or
(c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 2) or the DSTA; or
(d) With respect to any Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular Series, as the case may be), the Board of Trustees shall (in accordance with Section 3808 of the DSTA) pay, pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including all contingent, conditional or unmatured claims and obligations known to the Trust, and all claims and obligations which are known to the Trust, but for which the identity of the claimant is unknown. If there are sufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefortherefore. Any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series of the Trust (or the particular Series, as the case may be) ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) held of record by the several Shareholders on the date for such dissolution distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes classes thereof, any remaining assets (including, without limitation, cash, securities or any combination thereof) of the Trust or associated held with respect to such Series, as applicable, Series shall be distributed to each Class class of the Trust or such Series according to the net asset value computed for such Class class and within such particular Classclass, shall be distributed ratably to the Shareholders of such Class class according to the number of Shares of such Class class held of record by the several Shareholders on the date for such dissolution distribution. Upon the completion of the winding up of the Trust, Trust in accordance with Section 3808 of the DSTA, DSTA and the Trust’s its termination, any one (1) Trustee shall execute, -------------------------------------------------------------------------------- and cause to be filed, a certificate of cancellation, with the office of the Secretary of State of the State of Delaware in accordance with the provisions of Section 3810 of the DSTA.
Appears in 1 contract
Sources: Agreement and Declaration of Trust (Gartmore Mutual Funds Iii)
Dissolution of Trust or Series. The Trust and each Series shall have perpetual existence, except that the Trust (or a particular Series) shall be dissolved:
(a) With respect to the Trust, (i) upon the vote of the holders of not less than a majority of the Shares of the Trust cast, entitled to vote or (ii) at the discretion of the Board either (A) of Trustees at any time there are no Shares outstanding of the Trust, or (B) upon prior written notice to the Shareholders of the Trust; or
(b) With respect to a particular Series, (i) upon the vote of the holders of not less than a majority of the Shares of such that Series cast, entitled to vote or (ii) at the discretion of the Board either (A) of Trustees at any time there are no Shares outstanding of such Series, or (B) upon prior written notice to the Shareholders of such that Series; or
(c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 2) or the DSTA; or
(d) With respect to any Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular Series, as the case may be), the Board of Trustees shall (in accordance with Section 3808 of the DSTA) pay, pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including all contingent, conditional or unmatured claims and obligations known to the Trust, and all claims and obligations which are known to the Trust, but for which the identity of the claimant is unknown. If there are sufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefortherefore. Any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series of the Trust (or the particular Series, as the case may be) ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) held of record by the several Shareholders on the date for such dissolution distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes classes thereof, any remaining assets (including, without limitation, cash, securities or any combination thereof) of the Trust or associated held with respect to such Series, as applicable, Series shall be distributed to each Class class of the Trust or such Series according to the net asset value computed for such Class class and within such particular Classclass, shall be distributed ratably to the Shareholders of such Class class according to the number of Shares of such Class class held of record by the several Shareholders on the date for such dissolution distribution. Upon the completion of the winding up of the Trust, Trust in accordance with -------------------------------------------------------------------------------- Section 3808 of the DSTA, DSTA and the Trust’s its termination, any one (1) Trustee shall execute, and cause to be filed, a certificate of cancellation, with the office of the Secretary of State of the State of Delaware in accordance with the provisions of Section 3810 of the DSTA.
Appears in 1 contract
Sources: Agreement and Declaration of Trust (Gartmore Variable Insurance Trust Iii)
Dissolution of Trust or Series. The Trust and each Series shall have perpetual existence, except that the Trust (or a particular Series) shall be dissolved:
(a) With respect to the Trust, (i) upon the vote of the holders of not less than a majority of the Shares of the Trust cast, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of the Trust, or (B) upon prior written notice to the Shareholders of the Trust; or
(b) With respect to a particular Series, (i) upon the vote of the holders of not less than a majority of the Shares of such Series cast, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of such Series, or (B) upon prior written notice to the Shareholders of such Series; or
(c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 2) or the DSTA; or
(d) With respect to any Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular Series, as the case may be), the Board of Trustees shall (in accordance with Section 3808 of the DSTA) pay, pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including including, without limitation, all contingent, conditional or unmatured claims and obligations known to the Trust, and all claims and obligations which are known to the Trust, but for which the identity of the claimant is unknown. If there are sufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series of the Trust (or the particular Series, as the case may be) ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) held of record by the several Shareholders on the date for such dissolution distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes thereof, any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust or associated with such Series, as applicable, shall be distributed to each Class of the Trust or such Series according to the net asset value computed for such Class and within such particular Class, shall be distributed ratably to the Shareholders of such Class according to the number of Shares of such Class held of record by the several Shareholders on the date for such dissolution distribution. Upon the completion of the winding up of the Trust, Trust in accordance with Section 3808 of the DSTA, DSTA and the Trust’s its termination, any one (1) Trustee shall execute, and cause to be filed, a certificate of cancellation, with the office of the Secretary of State of the State of Delaware in accordance with the provisions of Section 3810 of the DSTA.. In connection with the dissolution and liquidation of the Trust or the termination of any Series or any Class, the Trustees may provide for the establishment and utilization of a liquidating trust or similar vehicle. 31 # 3254528 v. 1
Appears in 1 contract
Sources: Agreement and Declaration of Trust (Franklin High Income Trust)
Dissolution of Trust or Series. The Trust and each Series shall have perpetual existence, except that the Trust (or a particular Series) shall be dissolved:
(a) With respect to the Trust, (i) upon the vote of the holders of not less than a majority of the Shares of the Trust cast, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of the Trust, or (B) upon prior written notice to the Shareholders of the Trust; or
(b) With respect to a particular Series, (i) upon the vote of the holders of not less than a majority of the Shares of such Series cast, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of such Series, or (B) upon prior written notice to the Shareholders of such Series; or
(c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 2) or the DSTA; oror the Trust.
(d) With respect to any Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular Series, as the case may be), the Board of Trustees shall (in accordance with Section 3808 of the DSTA) pay, pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including including, without limitation, all contingent, conditional or unmatured claims and obligations known to the Trust, and all claims and obligations which are known to the Trust, but for which the identity of the claimant is unknown. If there are sufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of the Trust and/or associated with the applicable Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Any remaining assets (including, without limitation, cash, securities or any combination thereof) of the Trust and/or associated with the applicable Series of the Trust (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series of the Trust (or the particular Series, as the case may be) ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) held of record by the several Shareholders on the date for such dissolution distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes thereof, any remaining assets (including, without limitation, cash, securities or any combination thereof) of the Trust or associated with such Series, as applicable, shall be distributed to each Class of the Trust or such Series according to the net asset value computed for such Class and within such particular Class, shall be distributed ratably to the Shareholders of such Class according to the number of Shares of such Class held of record by the several Shareholders on the date for such dissolution distribution. Upon the completion of the winding up of the Trust, in accordance with Section 3808 of the DSTA, and the Trust’s termination, any one (1) Trustee shall execute, and cause to be filed, a certificate of cancellation, with the office of the Secretary of State of the State of Delaware in accordance with the provisions of Section 3810 of the DSTA.in
Appears in 1 contract
Sources: Amended and Restated Agreement and Declaration of Trust (Templeton Institutional Funds)
Dissolution of Trust or Series. The Trust and each Series shall have perpetual existence, except that the Trust (or a particular Series) shall be dissolved:
(a) With respect to the Trust, (i) upon the vote of the holders of not less than a majority of the Shares of the Trust cast, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of the Trust, or (B) upon prior written notice to the Shareholders of the Trust; : or
(b) With respect to a particular Series, (i) upon the vote of the holders of not less than a majority of the Shares of such Series cast, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of such Series, or (B) upon prior written notice to the Shareholders of such Series; : or
(c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 2) or the DSTA; or: or the Trust.
(d) With respect to any Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular Series, as the case may be), the Board of Trustees shall (in accordance with Section 3808 of the DSTA) pay, pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including including, without limitation, all contingent, conditional or unmatured claims and obligations known to the Trust, and all claims and obligations which are known to the Trust, but for which the identity of the claimant is unknown. If there are sufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of the Trust and/or associated with the applicable Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Any remaining assets (including, without limitation, cash, securities or any combination thereof) of the Trust and/or associated with the applicable Series of the Trust (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series of the Trust (or the particular Series, as the case may be) ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) held of record by the several Shareholders on the date for such dissolution distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes thereof, any remaining assets (including, without limitation, cash, securities or any combination thereof) of the Trust or associated with such Series, as applicable, shall be distributed to each Class of the Trust or such Series according to the net asset value computed for such Class and within such particular Class, shall be distributed ratably to the Shareholders of such Class according to the number of Shares of such Class held of record by the several Shareholders on the date for such dissolution distribution. Upon the completion of the winding up of the Trust, in accordance with Section 3808 of the DSTA, and the Trust’s termination, any one (1) Trustee shall execute, and cause to be filed, a certificate of cancellation, with the office of the Secretary of State of the State of Delaware in accordance with the provisions of Section 3810 of the DSTA.in
Appears in 1 contract
Sources: Amended and Restated Agreement and Declaration of Trust (Franklin Templeton Global Trust)
Dissolution of Trust or Series. The Trust and each Series shall have perpetual existence, except that the Trust (or a particular Series) shall be dissolved:
(a) With respect to the Trust, (i) upon the vote of the holders of not less than a majority of the Shares of the Trust castentitled to vote, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of the Trust, or (B) upon prior at least thirty (30) days after written notice is mailed or otherwise given to the Shareholders of the Trust; or
(b) With respect to a particular Series, (i) upon the vote of the holders of not less than a majority of the Shares of such Series castentitled to vote, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of such Series, or (B) upon prior at least thirty (30) days after written notice is mailed or otherwise given to the Shareholders of such Series; or
(c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 2) or the DSTA; or
(d) With respect to any each of the Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular Series, as the case may be), the Board of Trustees shall (in accordance with Section 3808 of the DSTA) pay, pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including all contingent, conditional or unmatured claims and obligations known to the Trust, and all claims and obligations which are known to the Trust, but for which the identity of the claimant is unknown. If there are sufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series of the Trust (or the particular Series, as the case may be) ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) held of record by the several Shareholders on the date for such dissolution distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes thereof, any remaining assets (including, without limitation, cash, securities or any combination thereof) of the Trust or associated held with respect to such Series, as applicable, Series shall be distributed to each Class of the Trust or such Series according to the net asset value computed for such Class and within such particular Class, shall be distributed ratably to the Shareholders of such Class according to the number of Shares of such Class held of record by the several Shareholders on the date for such dissolution distribution. Upon the completion of the winding up of the Trust, Trust in accordance with Section 3808 of the DSTA, DSTA and the Trust’s its termination, any one (1) Trustee shall execute, and cause to be filed, a certificate of cancellation, with the office of the Secretary of State of the State of Delaware in accordance with the provisions of Section 3810 of the DSTA.
Appears in 1 contract
Dissolution of Trust or Series. The Trust and each Series shall have perpetual existence, except that the Trust (or a particular Series) shall be dissolved:
(a) With respect to the Trust, (i) upon the vote of the holders of not less than a majority of the Shares of the Trust cast, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of the Trust, or (B) upon prior written notice to the Shareholders of the Trust; or
(b) With respect to a particular Series, (i) upon the vote of the holders of not less than a majority of the Shares of such Series cast, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of such Series, or (B) upon prior written notice to the Shareholders of such Series; or
(c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 2) or the DSTA; or
(d) With respect to any Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular Series, as the case may be), the Board of Trustees shall (in accordance with Section 3808 of the DSTA) pay, pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including including, without limitation, all contingent, conditional or unmatured claims and obligations known to the Trust, and all claims and obligations which are known to the Trust, but for which the identity of the claimant is unknown. If there are sufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series of the Trust (or the particular Series, as the case may be) ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) held of record by the several Shareholders on the date for such dissolution distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes thereof, any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust or associated with such Series, as applicable, shall be distributed to each Class of the Trust or such Series according to the net asset value computed for such Class and within such particular Class, shall be distributed ratably to the Shareholders of such Class according to the number of Shares of such Class held of record by the several Shareholders on the date for such dissolution distribution. Upon the completion of the winding up of the Trust, Trust in accordance with Section 3808 of the DSTA, DSTA and the Trust’s its termination, any one (1) Trustee shall execute, and cause to be filed, a certificate of cancellation, with the office of the Secretary of State of the State of Delaware in accordance with the provisions of Section 3810 of the DSTA.. In connection with the dissolution and liquidation of the Trust or the termination of any Series or any Class, the Trustees may provide for the establishment and utilization of a liquidating trust or similar vehicle. # 3254952 v. 1
Appears in 1 contract
Sources: Agreement and Declaration of Trust (Franklin Templeton Variable Insurance Products Trust)
Dissolution of Trust or Series. The Unless dissolved as provided herein, the Trust and each Series shall have perpetual existence, except that the . The Trust (or a particular Series) shall may be dissolved:
(a) With respect to the Trust, (i) upon the dissolved at any time by vote of the holders of not less than a majority of the Shares of the Trust casteach Series entitled to vote, or (ii) at the discretion voting separately by Series, subject to approval of a majority of the Board either (A) Trustees or by approval of a majority of the Trustees by written notice to the Shareholders. Any Series of Shares or Class thereof may be dissolved at any time there are no Shares outstanding by vote of a majority of the TrustShares of that Series or Class entitled to vote, subject to approval by a majority of the Trustees or (B) upon prior by approval of a majority of the Trustees by written notice to the Shareholders of the Trust; or
(b) With respect to a particular Series, (i) upon the vote that Series of the holders of not less than a majority of the Shares of such Series cast, or (ii) at the discretion of the Board either (A) at any time there are no Shares outstanding of such Series, or (B) upon prior written notice to the Shareholders of such Series; or
(c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 2) or the DSTA; or
(d) With respect to any Series, upon any event that causes the dissolution of the TrustClass thereof. Upon dissolution of the Trust (or a particular SeriesSeries or Class, as the case may be), the Board Trustees shall (in accordance with Section § 3808 of the DSTA) pay, pay or make reasonable provision to paypay all claims, all claims charges, taxes, expenses, distributions and obligations of the Trust and/or each Series (or the particular SeriesSeries or Class, as the case may be), including all contingent, conditional or unmatured claims claims, charges, taxes, expenses, liabilities, and obligations known to the Trust, and all claims and obligations which are known to the Trust, Trust but for which the identity of the claimant is unknown. If there are sufficient assets of the Trust and/or associated held with the applicable respect to each Series of the Trust (or the particular SeriesSeries or Class, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of the Trust and/or associated held with the applicable respect to each Series of the Trust (or the particular SeriesSeries or Class, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefortherefore. Any The Trust shall in accordance with such procedures as the Trustees may consider appropriate reduce the remaining assets of the Trust or if the affected Series or Class distributable in the form of cash or shares (includingif any Series remain) or other securities, without limitation, cash, securities or in any combination thereof) of the Trust and/or associated with the applicable Series of the Trust (or the particular Series, as the case may be) shall be distributed and distributable proceeds to the Shareholders of the Trust and/or each such Series of the Trust (or the particular SeriesClass involved , as the case may be) ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) Class held of record by the several Shareholders on the date for such dissolution distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes thereof, any remaining assets (including, without limitation, cash, securities or any combination thereof) of the Trust or associated with such Series, as applicable, shall be distributed to each Class of the Trust or such Series according to the net asset value computed for such Class and within such particular Class, shall be distributed ratably to the Shareholders of such Series or Class according to the number of Shares of such Class held of record by the several Shareholders on the date for such dissolution of distribution. Thereupon, the Trust in any affected Series or Class shall terminate and the Trustees and the Trust shall be discharged of any and all further liabilities and duties relating thereto or arising therefrom, and the right, title, and interest of all parties with respect to the Trust in such Series or Class shall be cancelled and discharged. Upon the completion of the winding up termination of the Trust, in accordance with Section 3808 following completion of winding up of its business, the DSTA, and Trustees shall cause a certificate of cancellation of the Trust’s termination, any one (1) Trustee shall execute, and cause Certificate of Trust to be filed, a certificate of cancellation, with the office of the Secretary of State of the State of Delaware filed in accordance with the provisions DSTA, which certificate of Section 3810 of the DSTAcancellation may be signed by any one Trustee.
Appears in 1 contract
Dissolution of Trust or Series. The Unless dissolved as provided herein, the Trust and each Series shall have perpetual existence, except that the . The Trust (or a particular Series) shall Series may be dissolved:
(a) With with respect to the Trust, (i) upon the at any time by vote of the holders of not less than a majority of the Shares of the Trust castentitled to vote, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of the Trust, or (B) upon prior written notice to the Shareholders Shareholder of the Trust; or;
(b) With with respect to a particular any Series, (i) upon the at any time by vote of the holders of not less than a majority of the Shares of such the Series castentitled to vote, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of such the Series, or (B) upon prior written notice to the Shareholders Shareholder of such the Series; or;
(c) With with respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 23) or the DSTA; or
(d) With with respect to any Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular Series, as the case may be), the Board Trustees shall (in accordance with Section 3808 withss.3808 of the DSTA) pay, pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including all contingent, conditional or unmatured claims and obligations known to the Trust, and all claims and obligations which are known to the Trust, Trust but for which the identity of the claimant is unknown. If there are sufficient assets of the Trust and/or associated held with the applicable respect to each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of the Trust and/or associated held with the applicable respect to each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Any remaining assets (including, including without limitation, cash, securities or any combination thereof) of the Trust and/or associated held with the applicable respect to each Series of the Trust (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series of the Trust (or the particular such Series, as the case may be) ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) held of record by the several Shareholders on the record date for such dissolution distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes thereof, any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust or associated with such Series, as applicable, shall be distributed to each Class of the Trust or such Series according to the net asset value computed for such Class and within such particular Class, shall be distributed ratably to the Shareholders of such Class according to the number of Shares of such Class held of record by the several Shareholders on the date for such dissolution distribution. Upon the completion of the winding up of the Trust, Trust in accordance with Section 3808 of the DSTA, DSTA and the Trust’s its termination, any one (1) Trustee shall execute, and cause to be filed, a certificate of cancellation, with the office of the Secretary of State of the State of Delaware in accordance with the provisions of Section 3810 of the DSTA.
Appears in 1 contract
Sources: Agreement and Declaration of Trust (Aberdeen Funds)
Dissolution of Trust or Series. The Trust and each Series shall have perpetual existence, except that the Trust (or a particular Series) shall be dissolved:
(a) With respect to the Trust, (i) upon the vote of the holders of not less than a majority of the Shares of the Trust cast, entitled to vote or (ii) at the discretion of the Board either (A) of Trustees at any time there are no Shares outstanding of the Trust, or (B) upon prior written notice to the Shareholders of the Trust; or
(b) With respect to a particular Series, (i) upon the vote of the holders of not less than a majority of the Shares of such that Series cast, entitled to vote or (ii) at the discretion of the Board either (A) of Trustees at any time there are no Shares outstanding of such Series, or (B) upon prior written notice to the Shareholders of such that Series; or
(c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 2) or the DSTA; or
(d) With respect to any Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular Series, as the case may be), the Board of Trustees shall (in accordance with Section 3808 of the DSTA) pay, pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including all contingent, conditional or unmatured claims and obligations known to the Trust, and all claims and obligations which are known to the Trust, but for which the identity of the claimant is unknown. If there are sufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series of the Trust (or the particular Series, as the case may be) ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) held of record by the several Shareholders on the date for such dissolution distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes classes thereof, any remaining assets (including, without limitation, cash, securities or any combination thereof) of the Trust or associated held with respect to such Series, as applicable, Series shall be distributed to each Class class of the Trust or such Series according to the net asset value computed for such Class class and within such particular Classclass, shall be distributed ratably to the Shareholders of such Class class according to the number of Shares of such Class class held of record by the several Shareholders on the date for such dissolution distribution. Upon the completion of the winding up of the Trust, Trust in accordance with Section 3808 of the DSTA, DSTA and the Trust’s its termination, any one (1) Trustee shall execute, and cause to be filed, a certificate of cancellation, with the office of the Secretary of State of the State of Delaware in accordance with the provisions of Section 3810 of the DSTA.
Appears in 1 contract
Sources: Trust Agreement (Templeton Global Smaller Companies Fund Inc)
Dissolution of Trust or Series. The Trust and each Series shall have perpetual existence, except that the Trust (or a particular Series) shall be dissolved:
(a) With respect to the Trust, (i) upon the vote of the holders of not less than a majority of the Shares of the Trust cast, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of the Trust, or (B) upon prior written notice to the Shareholders of the Trust; or
(b) With respect to a particular Series, (i) upon the vote of the holders of not less than a majority of the Shares of such Series cast, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of such Series, or (B) upon prior written notice to the Shareholders of such Series; or
(c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 2) or the DSTA; or
(d) With respect to any Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular Series, as the case may be), the Board of Trustees shall (in accordance with Section 3808 of the DSTA) pay, pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including including, without limitation, all contingent, conditional or unmatured claims and obligations known to the Trust, and all claims and obligations which are known to the Trust, but for which the identity of the claimant is unknown. If there are sufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series of the Trust (or the particular Series, as the case may be) ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) held of record by the several Shareholders on the date for such dissolution distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes thereof, any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust or associated with such Series, as applicable, shall be distributed to each Class of the Trust or such Series according to the net asset value computed for such Class and within such particular Class, shall be distributed ratably to the Shareholders of such Class according to the number of Shares of such Class held of record by the several Shareholders on the date for such dissolution distribution. Upon the completion of the winding up of the Trust, Trust in accordance with Section 3808 of the DSTA, DSTA and the Trust’s its termination, any one (1) Trustee shall execute, and cause to be filed, a certificate of cancellation, with the office of the Secretary of State of the State of Delaware in accordance with the provisions of Section 3810 of the DSTA.. In connection with the dissolution and liquidation of the Trust or the termination of any Series or any Class, the Trustees may provide for the establishment and utilization of a liquidating trust or similar vehicle. 31 # 3254362 v. 1
Appears in 1 contract
Sources: Agreement and Declaration of Trust (Franklin Value Investors Trust)
Dissolution of Trust or Series. The Trust and each Series shall have perpetual existence, except that the Trust (or a particular Series) shall be dissolved:
(a) With respect to the Trust, (i) upon the vote of the holders of not less than a majority of the Shares of the Trust cast, entitled to vote or (ii) at the discretion of the Board either (A) of Trustees, by resolution of a majority of the Board of Trustees, at any time there are no Shares outstanding of the Trust, or (B) upon prior written notice to the Shareholders of the Trust; or
(b) With respect to a particular Series, (i) upon the vote of the holders of not less than a majority of the Shares of such that Series cast, entitled to vote or (ii) at the discretion of the Board either (A) of Trustees, by resolution of a majority of the Board of Trustees, at any time there are no Shares outstanding of such Series, or (B) upon prior written notice to the Shareholders of such that Series; or
(c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 2) or the DSTADBTA; or
(d) With respect to any Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular SeriesSeries or class, as the case may be), the Board of Trustees shall (in accordance with Section 3808 of the DSTADBTA) pay, pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series and class (or the particular SeriesSeries or class, as the case may be), including all contingent, conditional or unmatured claims and obligations known to the Trust, and all claims and obligations which are known to the Trust, but for which the identity of the claimant is unknown. If there are sufficient assets of held with respect to the Trust and/or associated with the applicable each Series and class of the Trust (or the particular SeriesSeries or class, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of held with respect to the Trust and/or associated with the applicable each Series and class of the Trust (or the particular SeriesSeries or class, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefortherefore. Any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust and/or associated with the applicable each Series and class of the Trust (or the particular SeriesSeries or class, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series and class of the Trust (or the particular SeriesSeries or class, as the case may be) ratably according to the number of Shares of the Trust and/or such Series and class thereof (or the particular SeriesSeries or class, as the case may be) held of record by the several Shareholders on the date for such dissolution distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes thereof, any remaining assets (including, without limitation, cash, securities or any combination thereof) of the Trust or associated with such Series, as applicable, shall be distributed to each Class of the Trust or such Series according to the net asset value computed for such Class and within such particular Class, shall be distributed ratably to the Shareholders of such Class according to the number of Shares of such Class held of record by the several Shareholders on the date for such dissolution distribution. Upon the completion of the winding up of the Trust, Trust in accordance with Section 3808 of the DSTA, DBTA and the Trust’s its termination, any one (1) Trustee shall execute, and cause to be filed, a certificate of cancellation, with the office of the Secretary of State of the State of Delaware in accordance with the provisions of Section 3810 of the DSTADBTA.
Appears in 1 contract
Sources: Agreement and Declaration of Trust (Franklin Floating Rate Master Trust)
Dissolution of Trust or Series. The Trust and each Series shall have perpetual existence, except that the Trust (or a particular Series) shall be dissolved:
(a) With respect to the Trust, (i) upon the vote of the holders of not less than a majority of the Shares of the Trust cast, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of the Trust, or (B) upon prior written notice to the Shareholders of the Trust; or
(b) With respect to a particular Series, (i) upon the vote of the holders of not less than a majority of the Shares of such Series cast, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of such Series, or (B) upon prior written notice to the Shareholders of such Series; or
(c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 2) or the DSTA; or
(d) With respect to any Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular Series, as the case may be), the Board of Trustees shall (in accordance with Section 3808 of the DSTA) pay, pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including all contingent, conditional or unmatured claims and obligations known to the Trust, and all claims and obligations which are known to the Trust, but for which the identity of the claimant is unknown. If there are sufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series of the Trust (or the particular Series, as the case may be) ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) held of record by the several Shareholders on the date for such dissolution distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes thereof, any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust or associated with such Series, as applicable, shall be distributed to each Class of the Trust or such Series according to the net asset value computed for such Class and within such particular Class, shall be distributed ratably to the Shareholders of such Class according to the number of Shares of such Class held of record by the several Shareholders on the date for such dissolution distribution. Upon the completion of the winding up of the Trust, Trust in accordance with Section 3808 of the DSTA, DSTA and the Trust’s its termination, any one (1) Trustee shall execute, and cause to be filed, a certificate of cancellation, with the office of the Secretary of State of the State of Delaware in accordance with the provisions of Section 3810 of the DSTA.. # 1339629 v. 2
Appears in 1 contract
Dissolution of Trust or Series. The Trust and each Series shall have perpetual existence, except that the Trust (or a particular Series) shall be dissolved:
(a) With respect to the Trust, (i) upon the vote of the holders of not less than a majority of the Shares of the Trust cast, or (ii) at the discretion of the Board either of Trustees either
(A) at any time there are no Shares outstanding of the Trust, or (B) upon prior written notice to the Shareholders of the Trust; or
(b) With respect to a particular Series, (i) upon the vote of the holders of not less than a majority of the Shares of such Series cast, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of such Series, or (B) upon prior written notice to the Shareholders of such Series; or
(c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 2) or the DSTA; or
(d) With respect to any Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular Series, as the case may be), the Board of Trustees shall (in accordance with Section 3808 of the DSTA) pay, pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including all contingent, conditional or unmatured claims and obligations known to the Trust, and all claims and obligations which are known to the Trust, but for which the identity of the claimant is unknown. If there are sufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series of the Trust (or the particular Series, as the case may be) ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) held of record by the several Shareholders on the date for such dissolution distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes thereof, any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust or associated with such Series, as applicable, shall be distributed to each Class of the Trust or such Series according to the net asset value computed for such Class and within such particular Class, shall be distributed ratably to the Shareholders of such Class according to the number of Shares of such Class held of record by the several Shareholders on the date for such dissolution distribution. Upon the completion of the winding up of the Trust, Trust in accordance with Section 3808 of the DSTA, DSTA and the Trust’s its termination, any one (1) Trustee shall execute, and cause to be filed, a certificate of cancellation, with the office of the Secretary of State of the State of Delaware in accordance with the provisions of Section 3810 of the DSTA.
Appears in 1 contract
Sources: Agreement and Declaration of Trust (PFM Multi-Manager Series Trust)
Dissolution of Trust or Series. The Trust and each Series shall have perpetual existence, except that the Trust (or a particular Series) shall be dissolved:
(a) With respect to the Trust, (i) upon the vote of the holders of not less than a majority of the Shares of the Trust cast, or (ii) at the discretion of the Board either of Trustees either
(A) at any time there are no Shares outstanding of the Trust, or (B) upon prior written notice to the Shareholders of the Trust; or
(b) With respect to a particular Series, (i) upon the vote of the holders of not less than a majority of the Shares of such Series cast, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of such Series, or (B) upon prior written notice to the Shareholders of such Series; or
(c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 2) or the DSTA; or
(d) With respect to any Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular Series, as the case may be), the Board shall of Trustees (in accordance with Section 3808 of the DSTA) pay, shall pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including all contingent, conditional conditional, or unmatured claims and obligations known to the Trust, and all claims and obligations which that are known to the Trust, Trust but for which the identity of the claimant is unknown. If there are sufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Any remaining assets (including, without limitation, cash, securities securities, or any combination thereof) of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series of the Trust (or the particular Series, as the case may be) ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) held of record by the several Shareholders on the date for such dissolution distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes thereof, any remaining assets (including, without limitation, cash, securities securities, or any combination thereof) of held with respect to the Trust or associated with such Series, as applicable, shall be distributed to each Class of the Trust or such Series according to the net asset value computed for such Class Class, and within such particular Class, shall be distributed ratably to the Shareholders of such Class according to the number of Shares of such Class held of record by the several Shareholders on the date for such dissolution distribution. Upon the completion of the winding up of the Trust, Trust in accordance with Section 3808 of the DSTA, DSTA and the Trust’s its termination, any one (1) Trustee shall execute, execute and cause to be filed, filed a certificate of cancellation, cancellation with the office of the Secretary of State of the State of Delaware Delaware, in accordance with the provisions of Section 3810 of the DSTA.
Appears in 1 contract
Sources: Trust Agreement (AssetMark Funds II)
Dissolution of Trust or Series. The Trust and each Series shall have perpetual existence, except that the Trust (or a particular Series) shall be dissolved:
(a) With respect to the Trust, (i) upon the vote of the holders of not less than a majority of the Shares of the Trust cast, or (ii) at the discretion of the Board either (A) may be dissolved at any time there are no Shares outstanding by the Board of the Trust, or (B) upon prior Trustees by written notice to the Shareholders of the Trust; or
(b) With respect to a particular any Series, (i) upon the vote of the holders of not less than a majority of the Shares of such Series cast, or (ii) at the discretion of the Board either (A) may be dissolved and/or liquidated at any time there are no Shares outstanding by the Board of such Series, or (B) upon prior Trustees by written notice to the Shareholders of such Series; or
(c) With respect to any Class of Shares, a Class may be terminated and/or liquidated at any time by the Trust (or a particular Series), upon by the occurrence Board of a dissolution or termination event pursuant Trustees by written notice to any other provision the Shareholders of this Declaration of Trust (including Article VIII, Section 2) or the DSTAsuch Class; or
(d) With respect to any Series or Class, any action to dissolve the Trust shall be deemed to also be an action to dissolve and/or liquidate each Series, upon any event that causes the dissolution of the Trust. and to terminate and/or liquidate each Class.
(e) Upon dissolution of the Trust (or a particular Series, as the case may be), the Board of Trustees shall (in accordance with Section 3808 of the DSTA) pay, pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including including, without limitation, all contingent, conditional or unmatured claims and obligations known to the Trust, and all claims and obligations which are known to the Trust, but for which the identity of the claimant is unknown. If there are sufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series of the Trust (or the particular Series, as the case may be) ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) held of record by the several Shareholders on the date for such dissolution distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes thereof, any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust or associated with such Series, as applicable, shall be distributed to each Class of the Trust or such Series according to the net asset value computed for such Class and within such particular Class, shall be distributed ratably to the Shareholders of such Class according to the number of Shares of such Class held of record by the several Shareholders on the date for such dissolution distribution. Upon the completion of the winding up of the Trust, Trust in accordance with Section 3808 of the DSTA, DSTA and the Trust’s its termination, any one (1) Trustee shall execute, and cause to be filed, filed a certificate of cancellation, cancellation of the Certificate of Trust with the office of the Secretary of State of the State of Delaware in accordance with the provisions of Section 3810 of the DSTA. In connection with the dissolution and liquidation of the Trust or the termination of any Series or any Class, the Trustees may provide for the establishment and utilization of a liquidating trust or similar vehicle.
Appears in 1 contract
Dissolution of Trust or Series. The Trust and each Series shall have perpetual existence, except that the Trust (or a particular Series) shall be dissolved:
(a) With respect to the Trust, (i) upon the vote of the holders of not less than a majority of the Shares of the Trust cast, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of the Trust, or (B) upon prior written notice to the Shareholders of the Trust; or
(b) With respect to a particular Series, (i) upon the vote of the holders of not less than a majority of the Shares of such Series cast, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of such Series, or (B) upon prior written notice to the Shareholders of such Series; or
(c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 2) or the DSTA; or
(d) With respect to any Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular Series, as the case may be), the Board of Trustees shall (in accordance with Section 3808 of the DSTA) pay, pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including including, without limitation, all contingent, conditional or unmatured claims and obligations known to the Trust, and all claims and obligations which are known to the Trust, but for which the identity of the claimant is unknown. If there are sufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series of the Trust (or the particular Series, as the case may be) ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) held of record by the several Shareholders on the date for such dissolution distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes thereof, any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust or associated with such Series, as applicable, shall be distributed to each Class of the Trust or such Series according to the net asset value computed for such Class and within such particular Class, shall be distributed ratably to the Shareholders of such Class according to the number of Shares of such Class held of record by the several Shareholders on the date for such dissolution distribution. Upon the completion of the winding up of the Trust, Trust in accordance with Section 3808 of the DSTA, DSTA and the Trust’s its termination, any one (1) Trustee shall execute, and cause to be filed, a certificate of cancellation, with the office of the Secretary of State of the State of Delaware in accordance with the provisions of Section 3810 of the DSTA.. In connection with the dissolution and liquidation of the Trust or the termination of any Series or any Class, the Trustees may provide for the establishment and utilization of a liquidating trust or similar vehicle. # 3254740 v. 1
Appears in 1 contract
Sources: Agreement and Declaration of Trust (Franklin Real Estate Securities Trust)
Dissolution of Trust or Series. The Unless dissolved as provided herein, the Trust and each Series shall have perpetual existence, except that the . The Trust (or a particular Series) shall may be dissolved:
(a) With respect to the Trust, (i) upon the vote of the holders of not less than a majority of the Shares of the Trust cast, or (ii) dissolved at the discretion any time by approval of the Board either (A) of Trustees by written notice to the Shareholders. Any Series of Shares or Class thereof may be dissolved at any time there are no Shares outstanding by approval of the Trust, or (B) upon prior Board of Trustees by written notice to the Shareholders of the Trust; or
(b) With respect to a particular Series, (i) upon the vote that Series of the holders of not less than a majority of the Shares of such Series cast, or (ii) at the discretion of the Board either (A) at any time there are no Shares outstanding of such Series, or (B) upon prior written notice to the Shareholders of such Series; or
(c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 2) or the DSTA; or
(d) With respect to any Series, upon any event that causes the dissolution of the TrustClass thereof. Upon dissolution of the Trust (or a particular SeriesSeries or Class, as the case may be), the Board Trustees shall (in accordance with Section (S) 3808 of the DSTA) pay, pay or make reasonable provision to paypay all claims, all claims charges, taxes, expenses, distributions and obligations of the Trust and/or each Series (or the particular SeriesSeries or Class, as the case may be), including all contingent, conditional or unmatured claims claims, charges, taxes, expenses, liabilities, and obligations known to the Trust, and all claims and obligations which are known to the Trust, Trust but for which the identity of the claimant is unknown. If there are sufficient assets of the Trust and/or associated held with the applicable respect to each Series of the Trust (or the particular SeriesSeries or Class, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of the Trust and/or associated held with the applicable respect to each Series of the Trust (or the particular SeriesSeries or Class, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefortherefore. Any The Trust shall in accordance with such procedures as the Trustees may consider appropriate reduce the remaining assets of the Trust or if the affected Series or Class distributable in the form of cash or shares (includingif any Series remain) or other securities, without limitation, cash, securities or in any combination thereof) of the Trust and/or associated with the applicable Series of the Trust (or the particular Series, as the case may be) shall be distributed and distributable proceeds to the Shareholders of the Trust and/or each such Series of the Trust (or the particular SeriesClass involved, as the case may be) ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) Class held of record by the several Shareholders on the date for such dissolution distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes thereof, any remaining assets (including, without limitation, cash, securities or any combination thereof) of the Trust or associated with such Series, as applicable, shall be distributed to each Class of the Trust or such Series according to the net asset value computed for such Class and within such particular Class, shall be distributed ratably to the Shareholders of such Series or Class according to the number of Shares of such Class held of record by the several Shareholders on the date for such dissolution of distribution. Thereupon, the Trust in any affected Series or Class shall terminate and the Trustees and the Trust shall be discharged of any and all further liabilities and duties relating thereto or arising therefrom, and the right, title, and interest of all parties with respect to the Trust in such Series or Class shall be cancelled and discharged. Upon the completion of the winding up termination of the Trust, in accordance with Section 3808 following completion of winding up of its business, the DSTA, and the Trust’s termination, any one (1) Trustee Trustees shall execute, and cause to be filed, a certificate of cancellation, with the office cancellation of the Secretary Trust's Certificate of State of the State of Delaware Trust to be filed in accordance with the provisions DSTA, which certificate of Section 3810 of the DSTAcancellation may be signed by any one Trustee.
Appears in 1 contract
Dissolution of Trust or Series. The Unless dissolved as provided herein, the Trust and each Series shall have perpetual existence, except that the . The Trust (or a particular Series) shall may be dissolved:
(a) With respect to the Trust, (i) upon the dissolved at any time by vote of the holders of not less than a majority of the Shares of the Trust casteach Series entitled to vote, or (ii) at the discretion voting separately by Series, subject to approval of a majority of the Board either (A) Trustees or by approval of a majority of the Trustees by written notice to the Shareholders. Any Series of Shares or Class thereof may be dissolved at any time there are no Shares outstanding by vote of a majority of the TrustShares of that Series or Class entitled to vote, subject to approval by a majority of the Trustees or (B) upon prior by approval of a majority of the Trustees by written notice to the Shareholders of the Trust; or
(b) With respect to a particular Series, (i) upon the vote that Series of the holders of not less than a majority of the Shares of such Series cast, or (ii) at the discretion of the Board either (A) at any time there are no Shares outstanding of such Series, or (B) upon prior written notice to the Shareholders of such Series; or
(c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 2) or the DSTA; or
(d) With respect to any Series, upon any event that causes the dissolution of the TrustClass thereof. Upon dissolution of the Trust (or a particular SeriesSeries or Class, as the case may be), the Board Trustees shall (in accordance with Section 3808 of the DSTADBTA) pay, pay or make reasonable provision to paypay all claims, all claims charges, taxes, expenses, distributions and obligations of the Trust and/or each Series (or the particular SeriesSeries or Class, as the case may be), including all contingent, conditional or unmatured claims claims, charges, taxes, expenses, liabialities, and obligations known to the Trust, and all claims and obligations which are known to the Trust, Trust but for which the identity of the claimant is unknown. If there are sufficient assets of the Trust and/or associated held with the applicable respect to each Series of the Trust (or the particular SeriesSeries or Class, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of the Trust and/or associated held with the applicable respect to each Series of the Trust (or the particular SeriesSeries or Class, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefortherefore. Any The Trust shall in accordance with such procedures as the Trustees may consider appropriate reduce the remaining assets of the Trust or if the affected Series or Class distributable in the form of cash or shares (includingif any Series remain) or other securities, without limitation, cash, securities or in any combination thereof) of the Trust and/or associated with the applicable Series of the Trust (or the particular Series, as the case may be) shall be distributed and distributable proceeds to the Shareholders of the Trust and/or each such Series of the Trust (or the particular SeriesClass involved , as the case may be) ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) Class held of record by the several Shareholders on the date for such dissolution distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes thereof, any remaining assets (including, without limitation, cash, securities or any combination thereof) of the Trust or associated with such Series, as applicable, shall be distributed to each Class of the Trust or such Series according to the net asset value computed for such Class and within such particular Class, shall be distributed ratably to the Shareholders of such Series or Class according to the number of Shares of such Class held of record by the several Shareholders on the date for such dissolution of distribution. Thereupon, the Trust in any affected Series or Class shall terminate and the Trustees and the Trust shall be discharged of any and all further liabilities and duties relating thereto or arising therefrom, and the right, title, and interest of all parties with respect to the Trust in such Series or Class shall be cancelled and discharged. Upon the completion of the winding up termination of the Trust, in accordance with Section 3808 following completion of winding up of its business, the DSTA, and the Trust’s termination, any one (1) Trustee Trustees shall execute, and cause to be filed, a certificate of cancellation, with the office cancellation of the Secretary Trust's Certificate of State of the State of Delaware Trust to be filed in accordance with the provisions DBTA, which certificate of Section 3810 of the DSTAcancellation may be signed by any one Trustee.
Appears in 1 contract
Sources: Declaration of Trust (Lincoln National Aggressive Growth Fund Inc)
Dissolution of Trust or Series. The Trust and each Series shall have perpetual existence, except that the Trust (or a particular Series) shall be dissolved:
(a) With respect to the Trust, (i) upon the vote of the holders of not less than a majority of the Shares of the Trust cast, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of the Trust, or (B) upon prior written notice to the Shareholders of the Trust; or
(b) With respect to a particular Series, (i) upon the vote of the holders of not less than a majority of the Shares of such Series cast, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of such Series, or (B) upon prior written notice to the Shareholders of such Series; or
(c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 2) or the DSTA; or
or (d) With respect to any Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular Series, as the case may be), the Board of Trustees shall (in accordance with Section 3808 of the DSTA) pay, pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including all contingent, conditional or unmatured claims and obligations known to the Trust, and all claims and obligations which are known to the Trust, but for which the identity of the claimant is unknown. If there are sufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series of the Trust (or the particular Series, as the case may be) ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) held of record by the several Shareholders on the date for such dissolution distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes thereof, any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust or associated with such Series, as applicable, shall be distributed to each Class of the Trust or such Series according to the net asset value computed for such Class and within such particular Class, shall be distributed ratably to the Shareholders of such Class according to the number of Shares of such Class held of record by the several Shareholders on the date for such dissolution distribution. Upon the completion of the winding up of the Trust, Trust in accordance with Section 3808 of the DSTA, DSTA and the Trust’s its termination, any one (1) Trustee shall execute, and cause to be filed, a certificate of cancellation, with the office of the Secretary of State of the State of Delaware in accordance with the provisions of Section 3810 of the DSTA.
Appears in 1 contract
Sources: Agreement and Declaration of Trust (EGA Emerging Global Shares Trust)
Dissolution of Trust or Series. The Trust and each Series shall have perpetual existence, except that the Trust (or a particular Series) shall be dissolved:
(a) With respect to the Trust, (i) upon the vote of the holders of not less than a majority of the Shares of the Trust cast, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of the Trust, or (B) upon prior written notice to the Shareholders of the Trust; or
(b) With respect to a particular Series, (i) upon the vote of the holders of not less than a majority of the Shares of such Series cast, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of such Series, or (B) upon prior written notice to the Shareholders of such Series; or
(c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 2) or the DSTA; oror the Trust.
(d) With respect to any Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular Series, as the case may be), the Board of Trustees shall (in accordance with Section 3808 of the DSTA) pay, pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including including, without limitation, all contingent, conditional or unmatured claims and obligations known to the Trust, and all claims and obligations which are known to the Trust, but for which the identity of the claimant is unknown. If there are sufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series of the Trust (or the particular Series, as the case may be) ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) held of record by the several Shareholders on the date for such dissolution distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes thereof, any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust or associated with such Series, as applicable, shall be distributed to each Class of the Trust or such Series according to the net asset value computed for such Class and within such particular Class, shall be distributed ratably to the Shareholders of such Class according to the number of Shares of such Class held of record by the several Shareholders on the date for such dissolution distribution. Upon the completion of the winding up of the Trust, Trust in accordance with Section 3808 of the DSTA, DSTA and the Trust’s its termination, any one (1) Trustee shall execute, and cause to be filed, a certificate of cancellation, with the office of the Secretary of State of the State of Delaware in accordance with the provisions of Section 3810 of the DSTA. In connection with the dissolution and liquidation of the Trust or the termination of any Series or any Class, the Trustees may provide for the establishment and utilization of a liquidating trust or similar vehicle.
Appears in 1 contract
Sources: Amended and Restated Agreement and Declaration of Trust (Templeton Income Trust)
Dissolution of Trust or Series. The Trust and each Series shall have perpetual existence, except that the Trust (or a particular Series) shall be dissolved:
(a) With respect to the Trust, (i) upon the vote of the holders of not less than a majority of the Shares of the Trust cast, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of the Trust, or (B) upon prior written notice to the Shareholders of the Trust; or
(b) With respect to a particular Series, (i) upon the vote of the holders of not less than a majority of the Shares of such Series cast, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of such Series, or (B) upon prior written notice to the Shareholders of such Series; or
(c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 2) or the DSTA; or
(d) With respect to any Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular Series, as the case may be), the Board of Trustees shall (in accordance with Section 3808 of the DSTA) pay, pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including including, without limitation, all contingent, conditional or unmatured claims and obligations known to the Trust, and all claims and obligations which are known to the Trust, but for which the identity of the claimant is unknown. If there are sufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series of the Trust (or the particular Series, as the case may be) ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) held of record by the several Shareholders on the date for such dissolution distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes thereof, any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust or associated with such Series, as applicable, shall be distributed to each Class of the Trust or such Series according to the net asset value computed for such Class and within such particular Class, shall be distributed ratably to the Shareholders of such Class according to the number of Shares of such Class held of record by the several Shareholders on the date for such dissolution distribution. Upon the completion of the winding up of the Trust, Trust in accordance with Section 3808 of the DSTA, DSTA and the Trust’s its termination, any one (1) Trustee shall execute, and cause to be filed, a certificate of cancellation, with the office of the Secretary of State of the State of Delaware in accordance with the provisions of Section 3810 of the DSTA.. In connection with the dissolution and liquidation of the Trust or the termination of any Series or any Class, the Trustees may provide for the establishment and utilization of a liquidating trust or similar vehicle. # 3254368 v. 1
Appears in 1 contract
Sources: Agreement and Declaration of Trust (Franklin Mutual Series Funds)
Dissolution of Trust or Series. The Trust and each Series shall have perpetual existence, except that the Trust (or a particular Series) shall be dissolved:
(a) With respect to the Trust, (i) upon the vote of the holders of not less than a majority of the Shares of the Trust cast, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of the Trust, or (B) upon prior written notice to the Shareholders of the Trust; or
(b) With respect to a particular Series, (i) upon the vote of the holders of not less than a majority of the Shares of such Series cast, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of such Series, or (B) upon prior written notice to the Shareholders of such Series; or
(c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 2) or the DSTA; or
(d) With respect to any Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular Series, as the case may be), the Board of Trustees shall (in accordance with Section 3808 of the DSTA) pay, pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including including, without limitation, all contingent, conditional or unmatured claims and obligations known to the Trust, and all claims and obligations which are known to the Trust, but for which the identity of the claimant is unknown. If there are sufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series of the Trust (or the particular Series, as the case may be) ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) held of record by the several Shareholders on the date for such dissolution distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes thereof, any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust or associated with such Series, as applicable, shall be distributed to each Class of the Trust or such Series according to the net asset value computed for such Class and within such particular Class, shall be distributed ratably to the Shareholders of such Class according to the number of Shares of such Class held of record by the several Shareholders on the date for such dissolution distribution. Upon the completion of the winding up of the Trust, Trust in accordance with Section 3808 of the DSTA, DSTA and the Trust’s its termination, any one (1) Trustee shall execute, and cause to be filed, a certificate of cancellation, with the office of the Secretary of State of the State of Delaware in accordance with the provisions of Section 3810 of the DSTA.. In connection with the dissolution and liquidation of the Trust or the termination of any Series or any Class, the Trustees may provide for the establishment and utilization of a liquidating trust or similar vehicle. <BCLPAGE>2</BCLPAGE> # 3251013 v. 1
Appears in 1 contract
Sources: Agreement and Declaration of Trust (Franklin Alternative Strategies Funds)
Dissolution of Trust or Series. The Trust and each Series shall have perpetual existence, except that the Trust (or a particular Series) shall be dissolved:
(a) With respect to the Trust, (i) upon the vote of the holders of not less than approval by a majority of votes cast at a meeting of the Shares Shareholders of the Trust, provided a quorum of Shareholders of the Trust castis present, or by action of the Shareholders of the Trust by written consent without a meeting pursuant to Article V, Section 3, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of the Trust, or (B) upon prior written notice to the Shareholders of the Trust; or
(b) With respect to a particular Series, (i) upon the vote of the holders of not less than approval by a majority of votes cast at a meeting of the Shares Shareholders of such Series, provided a quorum of Shareholders of such Series castis present, or by action of the Shareholders of such Series by written consent without a meeting pursuant to Article V, Section 3, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of such Series, or (B) upon prior written notice to the Shareholders of such Series; or
(c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 2) or the DSTA; or
(d) With respect to any Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular Series, as the case may be), the Board of Trustees shall (in accordance with Section 3808 of the DSTA) pay, pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including all contingent, conditional or unmatured claims and obligations known to the Trust, and all claims and obligations which are known to the Trust, but for which the identity of the claimant is unknown. If there are sufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series of the Trust (or the particular Series, as the case may be) ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) held of record by the several Shareholders on the date for such dissolution distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes thereof, any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust or associated with such Series, as applicable, shall be distributed to each Class of the Trust or such Series according to the net asset value computed for such Class and within such particular Class, shall be distributed ratably to the Shareholders of such Class according to the number of Shares of such Class held of record by the several Shareholders on the date for such dissolution distribution. Upon the completion of the winding up of the Trust, Trust in accordance with Section 3808 of the DSTA, DSTA and the Trust’s its termination, any one (1) Trustee shall execute, and cause to be filed, a certificate of cancellation, with the office of the Secretary of State of the State of Delaware in accordance with the provisions of Section 3810 of the DSTA. In connection with the dissolution and liquidation of the Trust or any Series, and in connection with the termination of any Class of Shares, the Board of Trustees may provide for the establishment of a liquidating trust or similar vehicle.
Appears in 1 contract
Dissolution of Trust or Series. The Trust and each Series shall have ------------------------------ perpetual existence, except that the Trust (or a particular Series) shall be dissolveddissolved upon:
(a) With respect to the Trust, (i) upon the vote of the holders of not less than a majority of the Shares of the Trust cast, entitled to vote or (ii) at the discretion of by the Board either (A) at any time there are no Shares outstanding of the Trust, or (B) upon prior Trustees by written notice to the Shareholders of the TrustShareholders; or
(b) With respect to a particular Series, (i) upon the vote of the holders of not less than a majority of the Shares of such that Series cast, entitled to vote or (ii) at the discretion of by the Board either (A) at any time there are no Shares outstanding of such Series, or (B) upon prior Trustees by written notice to the Shareholders of such that Series; or
(c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 2) or the DSTADBTA; or
(d) With respect to any Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular Series, as the case may be), the Board Trustees shall (in accordance with Section 3808 of the DSTADBTA) pay, pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including all contingent, conditional or unmatured claims and obligations known to the Trust, and all claims and obligations which are known to the Trust, Trust but for which the identity of the claimant is unknown. If there are sufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Any remaining assets (including, including without limitation, cash, securities or any combination thereof) of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series of the Trust (or the particular Series, as the case may be) ), ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) ), held of record by the several Shareholders on the record date for such dissolution distribution; provided, provided however, that if the Shares of the Trust or a Series are divided into Classes classes thereof, any remaining assets (including, including without limitation, cash, securities or any combination thereof) of the Trust or associated held with respect to such Series, as applicable, Series shall be distributed to each Class class of the Trust or such Series according to the net asset value computed for such Class class and within such particular Classclass, shall be distributed ratably to the Shareholders of such Class class according to the number of Shares of such Class class held of record by the several Shareholders on the record date for such dissolution distribution. Upon the completion of the winding up of the Trust, Trust in accordance with Section 3808 of the DSTA, DBTA and the Trust’s its termination, any one (1) Trustee all of the Trustees shall execute, and cause to be filed, a certificate of cancellation, with the office Office of the Secretary of State of the State of Delaware in accordance with the provisions of Section 3810 of the DSTADBTA.
Appears in 1 contract
Sources: Declaration of Trust (Wallace Funds)
Dissolution of Trust or Series. The Trust and each Series shall have perpetual existence, except that the Trust (or a particular Series) shall be dissolved:
(a) With respect to the Trust, (i) upon the vote of the holders of not less than a majority of the Shares of the Trust cast, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of the Trust, or (B) upon prior written notice to the Shareholders of the Trust; or
(b) With respect to a particular Series, (i) upon the vote of the holders of not less than a majority of the Shares of such Series cast, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of such Series, or (B) upon prior written notice to the Shareholders of such Series; or
(c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 2) or the DSTA; or
(d) With respect to any Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular Series, as the case may be), the Board of Trustees shall (in accordance with Section 3808 of the DSTA) pay, pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including including, without limitation, all contingent, conditional or unmatured claims and obligations known to the Trust, and all claims and obligations which are known to the Trust, but for which the identity of the claimant is unknown. If there are sufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series of the Trust (or the particular Series, as the case may be) ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) held of record by the several Shareholders on the date for such dissolution distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes thereof, any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust or associated with such Series, as applicable, shall be distributed to each Class of the Trust or such Series according to the net asset value computed for such Class and within such particular Class, shall be distributed ratably to the Shareholders of such Class according to the number of Shares of such Class held of record by the several Shareholders on the date for such dissolution distribution. Upon the completion of the winding up of the Trust, Trust in accordance with Section 3808 of the DSTA, DSTA and the Trust’s its termination, any one (1) Trustee shall execute, and cause to be filed, a certificate of cancellation, with the office of the Secretary of State of the State of Delaware in accordance with the provisions of Section 3810 of the DSTA.. In connection with the dissolution and liquidation of the Trust or the termination of any Series or any Class, the Trustees may provide for the establishment and utilization of a liquidating trust or similar vehicle. # 3251742 v. 1
Appears in 1 contract
Sources: Agreement and Declaration of Trust (Templeton Institutional Funds)
Dissolution of Trust or Series. The Trust and each Series shall have perpetual existence, except that the Trust (or a particular Series) shall be dissolved:
(a) With respect to the Trust, (i) upon the vote of the holders of not less than a majority of the Shares of the Trust cast, entitled to vote or (ii) at the discretion of the Board either (A) of Trustees at any time there are no Shares outstanding of the Trust, or (B) upon prior written notice to the Shareholders of the Trust; or
(b) With respect to a particular Series, (i) upon the vote of the holders of not less than a majority of the Shares of such that Series cast, entitled to vote or (ii) at the discretion of the Board either (A) of Trustees at any time there are no Shares outstanding of such Series, or (B) upon prior written notice to the Shareholders of such that Series; or
(c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 2) or the DSTA; or
(d) With respect to any Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular Series, as the case may be), the Board of Trustees shall (in accordance with Section 3808 of the DSTA) pay, pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including all contingent, conditional or unmatured claims and obligations known to the Trust, and all claims and obligations which are known to the Trust, but for which the identity of the claimant is unknown. If there are sufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefortherefore. Any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series of the Trust (or the particular Series, as the case may be) ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) held of record by the several Shareholders on the date for such dissolution distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes classes thereof, any remaining assets (including, without limitation, cash, securities or any combination thereof) of the Trust or associated held with respect to such Series, as applicable, Series shall be distributed to each Class class of the Trust or such Series according to the net asset value computed for such Class class and within such particular Classclass, shall be distributed ratably to the Shareholders of such Class class according to the number of Shares of such Class class held of record by the several Shareholders on the date for such dissolution distribution. Upon the completion of the winding up of the Trust, Trust in accordance with Section 3808 of the DSTA, DSTA and the Trust’s its termination, any one (1) Trustee shall execute, and cause to be filed, a certificate of cancellation, with the office of the Secretary of State of the State of Delaware in accordance with the provisions of Section 3810 of the DSTA.
Appears in 1 contract
Dissolution of Trust or Series. The Trust and each Series shall have perpetual existence, except that the Trust (or a particular Series) shall be dissolved:
(a) With respect to the Trust, (i) upon the vote of the holders of not less than a majority of the Shares of the Trust castTrust, or (ii) at the discretion of the Board either (A) at any time of Trustees; provided, however, that if there are no any Shares outstanding of outstanding, the Trust, or (B) upon prior written Trustees shall provide notice to the Shareholders within a reasonable time after the dissolution of the TrustTrust which notice will be deemed given if reflected in any registration statement or supplement thereto; or
(b) With respect to a particular Series, (i) upon the vote of the holders of not less than a majority of the Shares of such Series castSeries, or (ii) at the discretion of the Board either (A) at any time of Trustees; provided, however, that if there are no any Shares outstanding of such Seriesoutstanding, or (B) upon prior written the Trustees shall provide notice to the affected Shareholders within a reasonable time after the dissolution of such Seriesthe Series which notice will be deemed given if reflected in any registration statement or supplement thereto; or
(c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 2) or the DSTA; or
(d) With respect to any Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular Series, as the case may be), the Board of Trustees shall (in accordance with Section 3808 of the DSTA) pay, pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including including, without limitation, all contingent, conditional or unmatured claims and obligations known to the Trust, and all claims and obligations which are known to the Trust, but for which the identity of the claimant is unknown. If there are sufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series of the Trust (or the particular Series, as the case may be) ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) held of record by the several Shareholders on the date for such dissolution distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes thereof, any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust or associated with such Series, as applicable, shall be distributed to each Class of the Trust or such Series according to the net asset value computed for such Class and within such particular Class, shall be distributed ratably to the Shareholders of such Class according to the number of Shares of such Class held of record by the several Shareholders on the date for such dissolution distribution. Upon the completion of the winding up of the Trust, Trust in accordance with Section 3808 of the DSTA, DSTA and the Trust’s its termination, any one (1) Trustee shall execute, and cause to be filed, a certificate of cancellation, with the office of the Secretary of State of the State of Delaware in accordance with the provisions of Section 3810 of the DSTA. In connection with the dissolution and liquidation of the Trust or the termination of any Series or any Class, the Trustees may provide for the establishment and utilization of a liquidating trust or similar vehicle. Notwithstanding any other provision in this Declaration of Trust, if following termination of a Series or Class, the Trust or any Series or Class comes into possession of any property, or such property otherwise arises, that would be property of, or otherwise attributable or related to, such terminated Series or Class, the Trustees are authorized to allocate and dispose of such property in such manner as they determine in their sole discretion, including by allocating such property to the Trust or any other Series or Class(es), making a charitable contribution of such property or taking any other action the Trustees deem necessary or advisable with respect to such property, and no Person who was a Shareholder of any such terminated Series or Class shall have any right, title or interest in such property or be entitled to make any claim with respect to such property or its allocation or disposition.
Appears in 1 contract
Sources: Agreement and Declaration of Trust (Crossmark ETF Trust)
Dissolution of Trust or Series. The Trust and each Series shall have perpetual existence, except that the Trust (or a particular Series) shall be dissolved:
(a) With respect to the Trust, (i) upon the vote of the holders of not less than a majority of the Shares of the Trust cast, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of the Trust, or (B) upon prior written notice to the Shareholders of the Trust; or
(b) With respect to a particular Series, (i) upon the vote of the holders of not less than a majority of the Shares of such Series cast, or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of such Series, or (B) upon prior written notice to the Shareholders of such Series; or
(c) With respect to the Trust (or a particular Series), upon the occurrence of a dissolution or termination event pursuant to any other provision of this Declaration of Trust (including Article VIII, Section 2) or the DSTA; or
(d) With respect to any Series, upon any event that causes the dissolution of the Trust. Upon dissolution of the Trust (or a particular Series, as the case may be), the Board of Trustees shall (in accordance with Section 3808 of the DSTA) pay, pay or make reasonable provision to pay, pay all claims and obligations of the Trust and/or each Series (or the particular Series, as the case may be), including including, without limitation, all contingent, conditional or unmatured claims and obligations known to the Trust, and all claims and obligations which are known to the Trust, but for which the identity of the claimant is unknown. If there are sufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid in full and any such provisions for payment shall be made in full. If there are insufficient assets of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be), such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust and/or associated with the applicable each Series of the Trust (or the particular Series, as the case may be) shall be distributed to the Shareholders of the Trust and/or each Series of the Trust (or the particular Series, as the case may be) ratably according to the number of Shares of the Trust and/or such Series thereof (or the particular Series, as the case may be) held of record by the several Shareholders on the date for such dissolution distribution; provided, however, that if the Shares of the Trust or a Series are divided into Classes thereof, any remaining assets (including, without limitation, cash, securities or any combination thereof) of held with respect to the Trust or associated with such Series, as applicable, shall be distributed to each Class of the Trust or such Series according to the net asset value computed for such Class and within such particular Class, shall be distributed ratably to the Shareholders of such Class according to the number of Shares of such Class held of record by the several Shareholders on the date for such dissolution distribution. Upon the completion of the winding up of the Trust, Trust in accordance with Section 3808 of the DSTA, DSTA and the Trust’s its termination, any one (1) Trustee shall execute, and cause to be filed, a certificate of cancellation, with the office of the Secretary of State of the State of Delaware in accordance with the provisions of Section 3810 of the DSTA.. In connection with the dissolution and liquidation of the Trust or the termination of any Series or any Class, the Trustees may provide for the establishment and utilization of a liquidating trust or similar vehicle. <BCLPAGE>2</BCLPAGE> # 3254956 v. 1
Appears in 1 contract
Sources: Agreement and Declaration of Trust (Franklin U.S. Government Money Fund)