Common use of Chair of the Trustees Clause in Contracts

Chair of the Trustees. There may be an office of the Chair of the Trustees, which shall serve on behalf of the Trustees, but shall not be an officer of the Trust. The office of the Chair of the Trustees may be held by more than one person. Any Chair of the Trustees shall be elected by a majority of the Trustees, as well as a majority of the Independent Trustees if required by the 1940 Act. If required by the 1940 Act, any Chair of the Trustees shall be an Independent Trustee and may, but need not, be a shareholder. The powers and the duties of the Chair of the Trustees shall include any and all such powers and duties relating to the operations of the Trustees as, from time to time, may be conferred upon or assigned to such office by the Trustees or as may be required by law, provided that the Chair of the Trustees shall have no individual authority to act for the Trust as an officer of the Trust. In carrying out the responsibilities and duties of the office, the Chair of the Trustees may seek assistance and input from other Trustees or Committees of the Trustees, officers of the Trust and the Trust’s investment adviser(s) and other service providers, as deemed necessary or appropriate. The Trustees, including a majority of the Independent Trustees if required by the 1940 Act, may appoint one or more persons to perform the duties of the Chair of the Trustees, in the event of his or her absence at any meeting or in the event of his or her disability.