Derivative Suits. No action may be brought by a Shareholder on behalf of the Trust or a Series unless (i) the Shareholders have requested the Trustees to take such action and the Trustees have failed or refused to do so for a period of 60 days and (ii) Shareholders owning not less than fifty percent (50%) of the then outstanding Shares of the Trust or such Series join in the bringing of such action.
Appears in 2 contracts
Samples: Declaration and Agreement of Trust (Lord Abbett Delta Fund), Trust Agreement (Lord Abbett Blend Trust)
Derivative Suits. No action may be brought by a Shareholder on behalf of the Trust or a Series unless (i) the Shareholders have requested the Trustees to take such action and the Trustees have failed or refused to do so for a period of 60 days and (ii) Shareholders owning not less than fifty percent (50%) of the then outstanding Shares of the Trust or such Series join in the bringing of such action.
Appears in 1 contract
Samples: Declaration and Agreement of Trust (Lord Abbett Investment Trust)
Derivative Suits. No action may be brought by a Shareholder on behalf of the Trust or a Series unless (i) the Shareholders have requested the Trustees to take such action and the Trustees have failed or refused to do so for a period of 60 days and (ii) Shareholders owning not less than fifty percent (50%) of the then outstanding Shares of the Trust or such Series join in the bringing of such action.
Appears in 1 contract
Samples: Declaration and Agreement of Trust (Lord Abbett Tax Free Income Trust)
