Establishment and Designation Clause Samples

Establishment and Designation. The Trustees shall have exclusive power without the requirement of Shareholder approval to establish and designate separate and distinct Series and Classes of Shares and to fix such preferences, voting powers, rights and privileges of such Series or Class as the Trustees may from time to time determine, to divide or combine Shares of any Series or Class into a greater or lesser number without thereby materially changing the proportionate beneficial interest of Shares of such Series or Class in the assets held with respect to that Series, to classify or reclassify any issued Shares or any Series or Class thereof into one or more Series or Classes, and to take such other action with respect to Shares as the Trustees may deem desirable. The establishment and designation of any Series or Class (in addition to those established and designated in this Section below) shall be effective upon the execution by a majority of the Trustees of an instrument setting forth such establishment and designation and the relative rights and preferences of Shares of such Series or Class, or as otherwise provided in such instrument. Each such instrument shall have the status of an amendment to this Declaration of Trust.
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Establishment and Designation. The Trustees shall have exclusive power without the requirement of Shareholder approval to establish and designate separate and distinct Series and Classes of Shares and to fix such preferences, voting powers, rights and privileges of such Series or Class as the Trustees may from time to time determine, to divide or combine the Shares or any Series or Class into a greater or lesser number without thereby materially changing the proportionate beneficial interest of the Shares of such Series or Class in the assets held with respect to that Series, to classify or reclassify any issued Shares or any Series or Class thereof into one or more Series or Classes, and to take such other action with respect to the Shares as the Trustees may deem desirable. The establishment and designation of any Series or Class (in addition to those established and designated in this Section below) shall be effective upon the execution by a majority of the Trustees of an instrument setting forth such establishment and designation and the relative rights and preferences of the Shares of such Series or Class, or as otherwise provided in such instrument. Each such instrument shall have the status of an amendment to this Declaration of Trust. Without limiting the authority of the Trustees to establish and designate any further Series or Class, the Trustees hereby establish and designate the following five (5) initial Series: Claymore/Sabrient Insider ETF Claymore/Sabrient Stealth ETF Claymore/Zacks Yield Hog ETF Claymore/Zacks Sector Rotation ETF Claymore/BNY BRIC ETF
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Establishment and Designation. 7 4.3 Separate and Distinct Nature.................................8
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Establishment and Designation. The Trustees shall have exclusive power without the requirement of Shareholder approval to establish and designate separate and distinct Series and Classes of Shares and to fix such preferences, voting powers, rights and privileges of such Series or Class as the Trustees may from time to time determine, to divide or combine the Shares or any Series or Class into a greater or lesser number without thereby materially changing the proportionate beneficial interest of the Shares of such Series or Class in the assets held with respect to that Series, to classify or reclassify any issued Shares or any Series or Class thereof into one or more Series or Classes, and to take such other action with respect to the Shares as the Trustees may deem desirable. The establishment of any Series or Class (other than the Initial Series, as defined below) shall be effective upon the adoption by the Trustees of a resolution that sets forth the designation of, or otherwise identifies, such Series or Class, whether directly in such resolution or by reference to, or approval of, another document that sets forth the designation of, or otherwise identifies, such Series or Class including any registration statement of the Trust, any amendment and/or restatement of this Declaration and/or Schedule A or as otherwise provided in such resolution. Without limiting the authority of the Trustees to establish and designate any further Series or Class, the Trustees hereby establish and designate the Series listed on Schedule A attached hereto and made a part hereof, which Schedule A may be amended and revised from time to time by resolution of the Trustees in order to add or remove Series. The Series indicated on Schedule A as of the date hereof hereby are referred to as the “Initial Series.” The Trust is authorized to issue an unlimited number of Shares of each Initial Series and upon the establishment of any additional Series or Class as provided herein, the Trust shall be authorized to issue an unlimited number of Shares of each such Series and Class, unless otherwise determined, and subject to any conditions set forth by the Trustees. Upon the establishment of any Series or Class of Shares or the termination of any existing Series or Class of Shares, Schedule A shall be amended to reflect the addition or termination of such Series of Class and any officer of the Trust is hereby authorized to make such amendment; provided that the amendment of Schedule A shall not be a condition precedent ...
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Establishment and Designation. Sub-Trusts. Without limiting the authority of the Trustee set forth in Section 4.1 to establish and designate any further Sub-Trusts, the Trustees hereby establish and designate seventeen Sub-Trusts and classes thereof: the Payd▇▇ & ▇ygel Global Fixed Income Fund, which shall consist of two classes of shares designated as "Class A" and "Class B" shares; the Payd▇▇ & ▇ygel Tax-Exempt Bond Fund, which shall consist of two classes of shares designated as "Class A" and "Class B" shares; the Payd▇▇ & ▇ygel Limited Maturity Fund, which shall consist of two classes of shares designated as "Class A" and "Class B" shares; the Payd▇▇ & ▇ygel Short Bond Fund, which shall consist of two classes of shares designated as "Class A" and "Class B" shares; the Payd▇▇ & Rygel Intermediate Bond Fund, which shall consist of two classes of shares designated as "Class A" and "Class B" shares; the Payd▇▇ & ▇ygel Investment Quality Bond Fund, which shall consist of two classes of shares designated as "Class A" and "Class B" shares; the Payd▇▇ & ▇ygel Short Duration Tax Exempt Fund, which shall consist of two classes of shares designated as "Class A" and Class B" shares; the Payd▇▇ & ▇ygel U.S. Treasury Fund, which shall consist of two classes of shares designated as "Class A" and "Class B" shares; the Payd▇▇ & ▇ygel International Bond Fund, which shall consist of two classes of shares designated as "Class A" and "Class B" shares; the Payd▇▇ & ▇ygel Market Return Fund, which shall consist of two classes of shares designated as "Class A" and "Class B" shares; the Payd▇▇ & ▇ygel Growth & Income Fund, which shall consist of two classes of shares designated as "Class A" and "Class B" shares; the Payd▇▇ & ▇ygel Global Short Bond Fund, which shall consist of two classes of shares designated as "Class A" and "Class B" shares; the Payd▇▇ & ▇ygel Total Return Fund, which shall consist of two classes of shares designated as "Class A" and "Class B" shares; the Payd▇▇ & ▇ygel International Equity Fund, which shall consist of two classes of shares designated as "Class A" and "Class B" shares; the Payd▇▇ & ▇ygel Global Balanced Fund, which shall consist of two classes of shares designated as "Class A" and "Class B" shares; the Payd▇▇ & ▇ygel European Growth & The undersigned hereby certify that the Amendment set forth above has been duly adopted in accordance with the provisions of the Master Trust Agreement.
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Establishment and Designation of Series The establishment and designation of any Series of Shares shall be effective upon resolution by a majority of the then Trustees, setting forth such establishment and designation and the relative rights and preferences of such Series, or as otherwise provided in such resolution. Such establishment and designation shall be set forth in an amendment to this Declaration of Trust by execution of a new Schedule A to this Declaration of Trust. Shares of each Series established pursuant to this Section 6, unless otherwise provided in the resolution establishing such Series or as modified by the Multiple Class Plan, shall have the following rights and preferences:
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Establishment and Designation of the Aggressive Growth Portfolio and of the Shares Thereof; General Provisions for All Portfolios. Without limiting the authority of the Trustees set forth in Section 6.1(a) hereof to establish and designate further Portfolios, there are hereby established and designated the Aggressive Growth Portfolio and the Shares thereof, which shall be known as the Aggressive Growth Series; an unlimited number of Shares of such Series may be issued. Subject to the power of the Trustees to classify or reclassify any unissued Shares of a Series pursuant to Section 6.1(a) above, such Portfolio, and any further Portfolios that may from time to time be established and designated by the Trustees, and the Shares representing the beneficial interests therein, shall (unless the Trustees otherwise determine with respect to some further Portfolio at the time of establishing and designating the same) have the following relative rights and preferences:
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Related to Establishment and Designation

  • Establishment and Designation of Shares The Series and classes of Shares existing as of the date of this Declaration of Trust are those Series and classes that have been established under the Prior Declaration of Trust and not heretofore terminated which are indicated on Schedule A attached hereto and made a part hereof ("Schedule A"). The establishment of any additional Series (or class) of Shares shall be effective upon the adoption by the Trustees of a resolution that sets forth the designation of, or otherwise identifies, such Series (or class), whether directly in such resolution or by reference to, or approval of, another document that sets forth the designation of, or otherwise identifies, such Series (or class) including any registration statement of the Trust or such Series (or class), any amendment and/or restatement of this Declaration of Trust and/or Schedule A or as otherwise provided in such resolution. Upon the establishment of any additional Series (or class) of Shares or the termination of any existing Series (or class) of Shares, Schedule A shall be amended to reflect the addition or termination of such Series (or class) and any officer of the Trust is hereby authorized to make such amendment; provided that amendment of Schedule A shall not be a condition precedent to the establishment or termination of any Series (or class) in accordance with this Declaration of Trust. The relative rights and preferences of the Shares of the Trust and each Series and each class thereof shall be as set forth herein and as set forth in any registration statement relating thereto, unless otherwise provided in the resolution establishing such Series or class. Shares of each Series (or class) established pursuant to this Section 6, unless otherwise provided in the resolution establishing such Series (or class) or in any registration statement relating thereto, shall have the following relative rights and preferences: