Action upon Termination of Custodian Agreement. Upon ---------------------------------------------- termination of any custodian agreement with respect to any Series or inability of any custodian to continue to serve, the Trustees shall promptly appoint a successor custodian, but in the event that no successor custodian can be found who has the required qualifications and is willing to serve, the Trustees shall call as promptly as possible a special Shareholders' meeting to determine whether such Series shall function without a custodian or shall be liquidated. If so directed by vote of the holders of a majority of the Shares of such Series outstanding and entitled to vote, the custodian shall deliver and pay over all Trust Property held by it as specified in such vote.
Appears in 2 contracts
Samples: Agreement and Declaration of Trust (Pacific Select Fund), Agreement and Declaration of Trust (Pacific Select Fund)
Action upon Termination of Custodian Agreement. Upon ---------------------------------------------- termination of any custodian agreement with respect to any Series Portfolio or inability of any custodian to continue to serve, the Trustees shall promptly appoint a successor custodian, but in the event that no successor custodian can be found who has the required qualifications and is willing to serve, the Trustees shall call as promptly as possible a special Shareholders' meeting to determine whether such Series Portfolios shall function without a custodian or shall be liquidated. If so directed by vote of the holders of a majority of the Shares of such Series Portfolios outstanding and entitled to vote, the custodian shall deliver and pay over all Trust Property held by it as specified in such vote.
Appears in 1 contract
Samples: Trust Agreement (Palladian Trust)
Action upon Termination of Custodian Agreement. Upon ---------------------------------------------- termination of any custodian agreement with respect to any Series or inability of any custodian to continue to serve, the Trustees shall promptly appoint a successor custodian, but in the event that no successor custodian can be found who has the required qualifications and is willing to serve, the Trustees shall call as promptly as possible a special Shareholders' meeting to determine whether such Series shall function without a custodian or shall be liquidated. If so directed by vote of the holders of a majority of the Shares of such Series outstanding and entitled to vote, the custodian shall deliver and pay over all Trust Property held by it as specified in such vote.
Appears in 1 contract
