Common use of EFFECTIVE PERIOD AND TERMINATION OF THIS CONTRACT Clause in Contracts

EFFECTIVE PERIOD AND TERMINATION OF THIS CONTRACT. This Contract shall take effect upon the date first above written and shall remain in full force and effect continuously (unless terminated automatically as set forth in Section 11) until terminated as follows: (a) Either by the Fund or Xxxxxx by not more than sixty (60) days' nor less than ten (10) days' written notice delivered or mailed by registered mail, postage prepaid, to the other party; or (b) If the continuance of this Contract is not specifically approved at least annually by the Trustees of the Fund or the shareholders of the Fund by the affirmative vote of a majority of the outstanding shares of the Fund, and by a majority of the Trustees of the Fund who are not interested persons of the Fund or of Xxxxxx by vote cast in person at a meeting called for the purpose of voting on such approval, then this Contract shall automatically terminate at the close of business on the second anniversary of its execution, or upon the expiration of one year from the effective date of the last such continuance, whichever is later. Action by the Fund under (a) above may be taken either (i) by vote of its Trustees or (ii) by the affirmative vote of a majority of the outstanding shares of the Fund. The requirement under (b) above that continuance of this Contract be "specifically approved at least annually" shall be construed in a manner consistent with the Investment Company Act of 1940, as amended, and the Rules and Regulations thereunder. Termination of this Contract pursuant to this Section 12 shall be without the payment of any penalty.

Appears in 25 contracts

Samples: Distributor's Contract (Putnam American Government Income Fund), Distributor's Contract (Putnam High Yield Advantage Fund), Distributor's Contract (Putnam Utilities Growth & Income Fund)

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EFFECTIVE PERIOD AND TERMINATION OF THIS CONTRACT. This Contract shall take effect upon the date first above written and shall remain in full force and effect continuously (unless terminated automatically as set forth in Section 11) until terminated with respect to a particular Fund as follows: (a) Either by the Fund Trust or Xxxxxx by not more than sixty (60) days' nor less than ten (10) days' written notice delivered or mailed by registered mail, postage prepaid, to the other party; or (b) If the continuance of this Contract is not specifically approved at least annually by the Trustees of the Fund Trust or the shareholders of the relevant Fund by the affirmative vote of a majority of the outstanding shares of the such Fund, and by a majority of the Trustees of the Fund Trust who are not interested persons of the Fund Trust or of Xxxxxx by vote cast in person at a meeting called for the purpose of voting on such approval, then this Contract shall automatically terminate at the close of business on the second anniversary of its execution, or upon the expiration of one year from the effective date of the last such continuance, whichever is later. Action by the Fund Trust under (a) above may be taken either (i) by vote of its Trustees or (ii) by the affirmative vote of a majority of the outstanding shares of the relevant Fund. The requirement under (b) above that continuance of this Contract be "specifically approved at least annually" shall be construed in a manner consistent with the Investment Company Act of 1940, as amended, and the Rules and Regulations thereunder. Termination of this Contract pursuant to this Section 12 shall be without the payment of any penalty.

Appears in 7 contracts

Samples: Distributor's Contract (Putnam Tax Smart Funds Trust), Distributor's Contract (Putnam Variable Trust), Distributor's Contract (Putnam Asset Allocation Funds)

EFFECTIVE PERIOD AND TERMINATION OF THIS CONTRACT. This Contract shall take effect upon the date first above written and shall remain in full force and effect continuously (unless terminated automatically as set forth in Section 11) until terminated as follows: (a) Either by the Fund or Xxxxxx Pxxxxx by not more than sixty (60) days' nor less than ten (10) days' written notice delivered or mailed by registered mail, postage prepaid, to the other party; or (b) If the continuance of this Contract is not specifically approved at least annually by the Trustees of the Fund or the shareholders of the Fund by the affirmative vote of a majority of the outstanding shares of the Fund, and by a majority of the Trustees of the Fund who are not interested persons of the Fund or of Xxxxxx Pxxxxx by vote cast in person at a meeting called for the purpose of voting on such approval, then this Contract shall automatically terminate at the close of business on the second anniversary of its execution, or upon the expiration of one year from the effective date of the last such continuance, whichever is later. Action by the Fund under (a) above may be taken either (i) by vote of its Trustees or (ii) by the affirmative vote of a majority of the outstanding shares of the Fund. The requirement under (b) above that continuance of this Contract be "specifically approved at least annually" shall be construed in a manner consistent with the Investment Company Act of 1940, as amended, and the Rules and Regulations thereunder. Termination of this Contract pursuant to this Section 12 shall be without the payment of any penalty.

Appears in 5 contracts

Samples: Distributor's Contract (Putnam Health Sciences Trust), Distributor's Contract (Putnam International Equity Fund /Ma/), Distributor's Contract (Putnam Capital Appreciation Fund)

EFFECTIVE PERIOD AND TERMINATION OF THIS CONTRACT. This Contract shall take effect upon the date first above written and shall remain in full force and effect continuously (unless terminated automatically as set forth in Section 11) until terminated as follows: (a) Either by the Fund or Xxxxxx by not more than sixty (60) days' nor less than ten (10) days' written notice delivered or mailed by registered mail, postage prepaid, to the other party; or or (b) If the continuance of this Contract is not specifically approved at least annually by the Trustees of the Fund or the shareholders of the Fund by the affirmative vote of a majority of the outstanding shares of the Fund, and by a majority of the Trustees of the Fund who are not interested persons of the Fund or of Xxxxxx by vote cast in person at a meeting called for the purpose of voting on such approval, then this Contract shall automatically terminate at the close of business on the second anniversary of its execution, or upon the expiration of one year from the effective date of the last such continuance, whichever is later. Action by the Fund under (a) above may be taken either (i) by vote of its Trustees or (ii) by the affirmative vote of a majority of the outstanding shares of the Fund. The requirement under (b) above that continuance of this Contract be "specifically approved at least annually" shall be construed in a manner consistent with the Investment Company Act of 1940, as amended, and the Rules and Regulations thereunder. Termination of this Contract pursuant to this Section 12 shall be without the payment of any penalty.

Appears in 1 contract

Samples: Distributor's Contract (Putnam LTD Duration Government Income Fund)

EFFECTIVE PERIOD AND TERMINATION OF THIS CONTRACT. This amended and restated Contract shall take effect upon the date first above written and shall remain in full force and effect continuously as to a Fund (unless terminated automatically as set forth in Section 1118 hereof) until terminated as followsterminated: (a) Either by the such Fund or Xxxxxx the Distributor by not more than sixty (60) days' nor less than ten thirty (1030) days' written notice delivered or mailed by registered mail, postage prepaid, to the other party; or (b) If Automatically as to PIMCO 1-3 Year U.S. Treasury Index Fund at the close of business two years from April 24, 2009, and as to any other Fund at the close of business two years from the date hereof, or upon the expiration of one year from the effective date of the last continuance of this Contract, whichever is later, if the continuance of this Contract is not specifically approved at least annually by the Trustees of the Fund Trust or the shareholders of the such Fund by the affirmative vote of a majority of the outstanding shares of the such Fund, ; and by a majority of the Trustees of the Fund Trust who are not interested persons of the Fund Trust and who have no direct or indirect financial interest in the operation of Xxxxxx the Plan or this Contract by vote cast in person at a meeting called for the purpose of voting on such approval, then this Contract shall automatically terminate at the close of business on the second anniversary of its execution, or upon the expiration of one year from the effective date of the last such continuance, whichever is later. Action by the a Fund under (a) above may be taken either (i) by vote of its the Trustees of the Trust, or (ii) by the affirmative vote of a majority of the outstanding shares of the such Fund. The requirement under (b) above that the continuance of this Contract be "specifically approved at least annually" shall be construed in a manner consistent with the Investment Company Act of 1940, as amended, and the Rules and Regulations thereunder1940 Act. Termination of this Contract pursuant to this Section 12 19 shall be without the payment of any penalty. If this Contract is terminated or not renewed with respect to one or more Funds, it may continue in effect with respect to any Fund, as to which it has not been terminated (or has been renewed).

Appears in 1 contract

Samples: Distribution Agreement (PIMCO ETF Trust)

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EFFECTIVE PERIOD AND TERMINATION OF THIS CONTRACT. This Contract shall take effect upon the date first above written and shall remain in full force and effect continuously (unless terminated automatically as set forth in Section 1116 hereof) until terminated as followsterminated: (a) Either by the Fund or Xxxxxx the Distributor by not more than sixty (60) days' nor less than ten thirty (1030) days' written notice delivered or mailed by registered mail, postage prepaid, to the other party; or (b) If Automatically at the close of business two years from the date hereof, or upon the expiration of one year from the effective date of the last continuance of this Contract, whichever is later, if the continuance of this Contract is not specifically approved at least annually by the Trustees of the Fund Trust or the shareholders of the Fund by the affirmative vote of a majority of the outstanding shares of the Fund, and by a majority of the Trustees of the Fund Trust who are not interested persons of the Fund Trust and who have no direct or of Xxxxxx indirect financial interest in this Contract by vote cast in person at a meeting called for the purpose of voting on such approval, then this Contract shall automatically terminate at the close of business on the second anniversary of its execution, or upon the expiration of one year from the effective date of the last such continuance, whichever is later. Action by the Fund under (a) above may be taken either (i) by vote of its the Trustees of the Trust, or (ii) by the affirmative vote of a majority of the outstanding shares of the Fund. The requirement under (b) above that the continuance of this Contract be "specifically approved at least annually" shall be construed in a manner consistent with the Investment Company Act of 1940, as amended, and the Rules and Regulations thereunder1940 Act. Termination of this Contract pursuant to this Section 12 17 shall be without the payment of any penalty.

Appears in 1 contract

Samples: Distribution Agreement (Fixed Income Shares)

EFFECTIVE PERIOD AND TERMINATION OF THIS CONTRACT. This Contract shall take effect upon the date first above written and shall remain in full force and effect continuously (unless terminated automatically as set forth in Section 11) until terminated as follows: (a) Either by the Fund or Xxxxxx by not more than sixty (60) days' nor less than ten (10) days' written notice delivered or mailed by registered mail, postage prepaid, to the other party; or (b) If the continuance of this Contract is not specifically approved at least annually by the Trustees of the Fund or the shareholders of the Fund by the affirmative vote of a majority of the outstanding shares of the Fund, and by a majority of the Trustees of the Fund who are not interested persons of the Fund or of Xxxxxx by vote cast in person at a meeting called for the purpose of 4 voting on such approval, then this Contract shall automatically terminate at the close of business on the second anniversary of its execution, or upon the expiration of one year from the effective date of the last such continuance, whichever is later. Action by the Fund under (a) above may be taken either (i) by vote of its Trustees or (ii) by the affirmative vote of a majority of the outstanding shares of the Fund. The requirement under (b) above that continuance of this Contract be "specifically approved at least annually" shall be construed in a manner consistent with the Investment Company Act of 1940, as amended, and the Rules and Regulations thereunder. Termination of this Contract pursuant to this Section 12 shall be without the payment of any penalty.

Appears in 1 contract

Samples: Distributor's Contract (Putnam Diversified Income Trust)

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