Combination of Series. The Board of Trustees shall have the authority, without the approval of the Shareholders of any Series unless otherwise required by applicable law, to combine the assets and liabilities held with respect to any two or more Series into assets and liabilities held with respect to a single Series; PROVIDED that upon completion of such combination of Series, the proportionate interest of each Shareholder, in the assets and liabilities held with respect to the combined Series shall equal the proportionate interest of each such Shareholder in the assets and liabilities held with respect to each Series that was combined.
Appears in 8 contracts
Samples: Agreement and Declaration (Templeton Capital Accumulator Fund Inc), Agreement and Declaration (Assetmark Funds), Agreement and Declaration (Franklin Floating Rate Master Trust)
Combination of Series. The Board of Trustees shall have the authority, without the approval of the Shareholders of any Series or Class unless otherwise required by applicable law, to combine the assets and liabilities held with respect to any two or more Series or Class into assets and liabilities held with respect to a single Series; PROVIDED that upon completion of such combination of Series, the proportionate interest of each Shareholder, in the assets and liabilities held with respect to the combined Series shall equal the proportionate interest of each such Shareholder in the assets and liabilities held with respect to each Series that was combinedor Class.
Appears in 3 contracts
Samples: Agreement and Declaration (Lincoln Funds Trust), Agreement and Declaration (Lincoln Advisors Trust), Agreement and Declaration of Trust (Lincoln National Aggressive Growth Fund Inc)
Combination of Series. The Board of Trustees shall have the authority, without the approval of the Shareholders of any Series unless otherwise required by applicable law, to combine the assets and liabilities held with respect to any two or more Series into assets and liabilities held with respect to a single Series; PROVIDED that upon completion of such combination of Series, the proportionate interest of each Shareholder, in the combined assets and liabilities held with respect to the combined Series shall equal the proportionate interest of each such Shareholder in the aggregate of the assets and liabilities held with respect to each the Series that was were combined.
Appears in 3 contracts
Samples: Agreement and Declaration (Templeton Global Investment Trust), Agreement and Declaration (Templeton Global Opportunities Trust), Agreement and Declaration (Templeton Global Opportunities Trust)
