Common use of Duration, Termination and Amendments of this Agreement Clause in Contracts

Duration, Termination and Amendments of this Agreement. This Agreement shall become effective on the date of its execution and shall govern the relations between the parties hereto thereafter, and shall remain in force until November 1, 1996, and each year thereafter but only so long as its continuance is specifically approved at least annually (i) by the vote of a majority of the Trustees of the Trust who are not interested persons of the Trust or of the Adviser at a meeting specifically called for the purpose of voting on such approval, and (ii) by the Trustees of the Trust, or by vote of a majority of the outstanding voting securities of the Fund. This Agreement may be terminated at any time without the payment of any penalty by the Trustees of the Trust or by vote of a majority of the outstanding voting securities of the Fund, or by the Adviser, on not more than sixty days' nor less that thirty days' written notice to the other party. This Agreement shall automatically terminate in the event of its assignment. This Agreement may be amended only if such amendment is approved by vote of a majority of the outstanding voting securities of the Fund.