Establishment of Classes of Shares. Subject to the provisions of this Section 3.6, the Trust may issue Classes of Shares which the Trustees shall by resolution establish. The establishment of any 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 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 Class including any Registration Statement, any amendment and/or restatement of this Declaration of Trust or as otherwise provided in such resolution. Upon the establishment of any Class of Shares or the termination of any existing Class of Shares, the books and records of the Trust shall be updated to reflect the addition or termination of such Class; provided that any such update shall not be a condition precedent to the establishment or termination of any Class in accordance with this Declaration of Trust. The relative rights and preferences of each Class shall be as set forth herein and as set forth in any Registration Statement relating thereto, unless otherwise provided in the resolution establishing such Class. Any action that may be taken by the Trustees with respect to any Class, including any addition, modification, division, combination, classification, reclassification, change of name or termination may be made in the same manner as the establishment of such Class. Unless otherwise provided in any Registration Statement relating thereto, Shares of each Class established pursuant to this Article III (unless otherwise provided in the resolution establishing such additional Class), shall have the following relative rights and preferences:
Appears in 3 contracts
Sources: Agreement and Declaration of Trust (Fairway Private Markets Fund), Trust Agreement (Fairway Private Equity & Venture Capital Opportunities Fund), Trust Agreement (Fairway Private Equity Venture Capital Fund)