Elimination of Series Sample Clauses
The Elimination of Series clause defines the process by which a particular series within a multi-series entity, such as a series LLC, can be formally dissolved or terminated. Typically, this clause outlines the conditions under which a series may be eliminated, the necessary approvals or procedures required, and the distribution of assets or settlement of liabilities specific to that series. By providing a clear mechanism for winding down a series, this clause ensures orderly management and legal clarity, preventing disputes and confusion when a series is no longer needed or viable.
Elimination of Series. At any time that there are no Shares outstanding of a Series (or class), the Trustees may abolish such Series (or class).
Elimination of Series. At any time that there are no Shares outstanding of any particular Series or class previously established and designated, the Board of Trustees may by resolution of a majority of the then Board of Trustees abolish that Series or class and rescind the establishment and designation thereof.
Elimination of Series. At any time that there are no Shares outstanding of any particular Series previously established and designated, the Trustees may amend this Declaration of Trust to abolish that Series and to rescind the establishment and designation thereof, such amendment to be effected in the manner provided in Section 5 of this Article III.
Elimination of Series. At any time that there are no Shares outstanding of any particular Series (or class) previously established and designated or such other time and such manner not prohibited by the Investment Company Act or other applicable law, the Trustees may by resolution of a majority of the then Trustees abolish that Series (or class) and rescind the establishment and designation thereof.
Elimination of Series. At any time that there are no Shares outstanding of a Series (or class), the Trustees may abolish such Series (or class). If a class of a Series has outstanding Shares, the Trustees may, in their sole discretion and without Shareholder approval, abolish any such class; provided that, prior to abolishing such class without Shareholder approval, the Board of Trustees shall make a determination that the manner of abolishing such class (i) is consistent with the fair and equitable treatment of all Shareholders; (ii) shall not adversely affect to a material degree the rights and preferences of the Shares of any Series (or class) or increase or decrease the par value of the Shares of any Series (or class); and (iii) shall not require Shareholder approval under the 1940 Act or other applicable law.
Elimination of Series. The Trustees shall have the authority, without the approval of the Shareholders of any Series (or Class) unless otherwise required by the 1940 Act, to abolish that Series (or Class) and rescind the establishment and designation thereof.
Elimination of Series. At any time that there are no Shares outstanding of any particular Series (or Class) previously established and designated, the Directors may by resolution of a majority of the then Directors abolish that Series (or Class) and rescind the establishment and designation thereof.
Elimination of Series. At any time, the Trustees may determine to abolish one or more Series (or class(es)) of the Trust.
Elimination of Series. Section 7.
Elimination of Series. The Trustees may by resolution of a majority of the then Trustees abolish any Series or Class and rescind the establishment and designation thereof consistent with Article VII, Section 1(a).