Common use of Series and Classes Clause in Contracts

Series and Classes. The Board of Trustees may authorize the division of Shares into separate classes of Shares and into separate and distinct series of Shares and the division of any series into separate classes of Shares. The establishment and designation of any series or class thereof shall be effective, without the requirement of Shareholder approval, upon the adoption of a resolution by not less than a majority of the then Board of Trustees, which resolution shall set forth such establishment and designation and may provide, to the extent permitted by the DSTA, for rights, powers and duties of such series or class thereof otherwise than as provided herein. Each such resolution shall be incorporated herein by reference upon adoption.

Series and Classes. The Board of Trustees may authorize the division of Shares into separate classes of Shares and into separate and distinct series of Shares and the division of any series into separate classes of Shares. The establishment and designation of any series or class thereof shall be effective, without the requirement of Shareholder approval, upon the adoption of a resolution by not less than a majority of the then Board of Trustees, which resolution shall set forth such establishment and designation and may provide, to the extent permitted by the DSTADBTA, for rights, powers and duties of such series or class thereof otherwise than as provided herein. Each such resolution shall be incorporated herein by reference upon adoption.