Common use of Effect of Death, Resignation, Etc. of a Director Clause in Contracts

Effect of Death, Resignation, Etc. of a Director. The death, declination to serve, resignation, retirement, removal, or incapacity of one or more Directors, or all of them, shall not operate to annul the Company or to revoke any existing agency created pursuant to the terms of this Agreement. Whenever there shall be fewer than the designated number of Directors, until additional Directors are elected or appointed as provided herein to bring the total number of Directors equal to the designated number, the Directors in office, regardless of their number, shall have all the powers granted to the Directors and shall discharge all the duties imposed upon the Directors by this Agreement. As conclusive evidence of such vacancy, a written instrument certifying the existence of such vacancy may be executed by an officer of the Company or by a majority of the Directors. In the event of the death, declination, resignation, retirement, removal, or incapacity of all the then Directors within a short period of time and without the opportunity for at least one Director being able to appoint additional Directors to replace those no longer serving, the Investment Manager is empowered to appoint new Directors subject to the provisions of Section 16(a) of the Investment Company Act.

Effect of Death, Resignation, Etc. of a Director. The death, declination to serve, resignation, retirement, removal, or incapacity of one or more Directors, or all of them, shall not operate to annul dissolve or terminate the Company or to revoke any existing agency created pursuant to the terms of this AgreementCompany. Whenever there shall be fewer than the designated number of Directors, until additional Directors are elected or appointed as provided herein to bring the total number of Directors equal to the designated number, the Directors in office, regardless of their number, shall have all the powers granted to the Directors and shall discharge all the duties imposed upon the Directors by this Agreement. As conclusive evidence of such vacancy, a written instrument certifying the existence of such vacancy may be executed by an officer of the Company or by a majority of the Directors. In the event of the death, declination, resignation, retirement, removal, or incapacity of all the then Directors within a short period of time and without the opportunity for at least one Director being able to appoint additional Directors to replace those no longer serving, the Company’s Investment Manager is Adviser(s) are empowered to appoint new Directors subject to the provisions of Section 16(a) of the Investment Company 1940 Act.

Effect of Death, Resignation, Etc. of a Director. The death, declination to serve, resignation, retirement, removal, removal or incapacity of one or more Directors, or all of them, shall not operate to annul the Company or to revoke any existing agency created pursuant to the terms of this Agreement. Whenever there shall be fewer than the designated number of Directors, until additional Directors are elected or appointed as provided herein to bring the total number of Directors equal to the designated number, the Directors in office, regardless of their number, shall have all the powers granted to the Directors and shall discharge all the duties imposed upon the Directors by this Agreement. As conclusive evidence of such vacancy, a written instrument certifying the existence of such vacancy may be executed by an officer of the Company or by a majority of the Directors. In the event of the death, declination, resignation, retirement, removal, removal or incapacity of all the then Directors within a short period of time and without the opportunity for at least one Director being able to appoint additional Directors to replace those no longer serving, the Investment Manager is empowered to appoint new Directors subject to the provisions of Section 16(a) of the Investment Company Act.