Common use of Duration, Termination and Amendments Clause in Contracts

Duration, Termination and Amendments. This Agreement shall become effective as of the date first written above and shall continue in effect for two years. Thereafter, this Agreement shall continue in effect from year to year for so long as its continuance is specifically approved, at least annually, by (i) a majority of the Board of Trustees or the vote of the holders of a majority of the Portfolio's outstanding voting securities; and

Duration, Termination and Amendments. This Agreement shall become effective as of the date first written above and shall continue in effect for two years. Thereafter, this Agreement shall continue in effect from year to year for so long as its continuance is specifically approved, approved at least annually, annually by (i) a majority of the Board of Trustees or the vote of the holders of a majority of the PortfolioTrust's outstanding voting securities; andand (ii) the affirmative vote, cast in person at a meeting called for the purpose of voting on such approval, of a majority of those members of the Board ("Independent Trustees") who are not "interested persons" of the Trust.