Common use of Effectiveness, Continuation, Termination and Amendment Clause in Contracts

Effectiveness, Continuation, Termination and Amendment. This Amended and Restated Plan has been approved by a vote of the Board and its Independent Trustees cast in person at a meeting called on June 22, 1995, for the purpose of voting on this Plan, and shall take effect after approval by Class B shareholders of the Fund, at which time it shall replace the Fund's Amended and Restated Distribution Plan adopted as of December 23, 1994 and the Amended and Restated Distribution Agreement for the Shares dated December 23, 1994. Unless terminated as hereinafter provided, it shall continue in effect from year to year thereafter or as the Board may otherwise determine only so long as such continuance is specifically approved at least annually by a vote of the Board and its Independent Trustees cast in person at a meeting called for the purpose of voting on such continuance. This Plan may not be amended to increase materially the amount of payments to be made without approval of the Class B Shareholders, in the manner described above, and all material amendments must be approved by a vote of the Board and of the Independent Trustees. This Plan may be terminated at any time by vote of a majority of the Independent Trustees or by the vote of the holders of a "majority" (as defined in the 0000 Xxx) of the Fund's outstanding voting securities of the Class. In the event of such termination, the Board and its Independent Trustees shall determine whether the Distributor shall be entitled to payment from the Fund of all or a portion of the Service Fee and/or the Asset-Based Sales Charge in respect of Shares sold prior to the effective date of such termination.

Appears in 4 contracts

Samples: Distribution and Service Plan and Agreement (Quest for Value Family of Funds), Distribution and Service Plan and Agreement (Oppenheimer Quest for Value Funds), Distribution and Service Plan and Agreement (Quest for Value Family of Funds)

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Effectiveness, Continuation, Termination and Amendment. This Amended and Restated Plan has been approved by a vote of the Board and its Independent Trustees cast in person at a meeting called on June 22, 1995, for the purpose of voting on this Plan, and shall take effect after approval by Class B shareholders of the Fund, at which time it shall replace the Fund's Amended and Restated Distribution Plan adopted as of December 23, 1994 and the Amended and Restated Distribution Agreement for the Shares dated December 23, 1994. Unless terminated as hereinafter provided, it shall continue in effect from year to year thereafter or as the Board may otherwise determine only so long as such continuance is specifically approved at least annually by a vote of the Board and its Independent Trustees cast in person at a meeting called for the purpose of voting on such continuance. This Plan may not be amended to increase materially the amount of payments to be made without approval of the Class B Shareholders, in the manner described above, and all material amendments must be approved by a vote of the Board and of the Independent Trustees. This Plan may be terminated at any time by vote of a majority of the Independent Trustees or by the vote of the holders of a "majority" (as defined in the 0000 Xxx1940 Act) of the Fund's outstanding voting securities of the xx xxx Class. In the event of such termination, the Board and its Independent Trustees shall determine whether the Distributor shall be entitled to payment from the Fund of all or a portion of the Service Fee and/or the Asset-Based Sales Charge in respect of Shares sold prior to the effective date of such termination.

Appears in 2 contracts

Samples: Distribution and Service Plan and Agreement (Oppenheimer Quest for Value Funds), Distribution and Service Plan and Agreement (Oppenheimer Quest for Value Funds)

Effectiveness, Continuation, Termination and Amendment. This Amended and Restated Plan has been approved by a vote of the Board and its Independent Trustees cast in person at a meeting called on June 22, 1995, 1995 for the purpose of voting on this Plan, and shall take effect after approval by Class B A shareholders of the Fund, at which time it shall replace the Fund's Amended Plan and Restated Agreement of Distribution Plan adopted for the Shares made as of April 28, 1988 as amended as of December 30, 1988, August 14, 1990, October 18, 1990, August 23, 1994 1991 and the Amended and Restated Distribution Agreement for the Shares dated December 23September 1, 19941993. Unless terminated as hereinafter provided, it shall continue in effect from year to year thereafter from the date first set forth above or as the Board may otherwise determine only so long as such continuance is specifically approved at least annually by a vote of the Board and its Independent Trustees cast in person at a meeting called for the purpose of voting on such continuance. This Plan may not be amended to increase materially the amount of payments to be made without approval of the Class B A Shareholders, in the manner described above, and all material amendments must be approved by a vote of the Board and of the Independent Trustees. This Plan may be terminated at any time by vote of a majority of the Independent Trustees or by the vote of the holders of a "majority" (as defined in the 0000 Xxx1940 Act) of the Fund's outstanding voting securities of the Classxx xxx Xlass. In the event of such termination, the Board and its Independent Trustees shall determine whether the Distributor shall be is entitled to payment from the Fund of all or a portion of the Service Fee and/or the Asset-Based Sales Charge in respect of Shares sold prior to the effective date of such termination.

Appears in 2 contracts

Samples: Distribution and Service Plan and Agreement (Oppenheimer Quest for Value Funds), Distribution and Service Plan and Agreement (Oppenheimer Quest for Value Funds)

Effectiveness, Continuation, Termination and Amendment. This Amended and Restated Plan has been approved by a vote of the Board and its Independent Trustees cast in person at a meeting called on June 22, 1995, 1995 for the purpose of voting on this Plan, and shall take effect after approval by Class B A shareholders of the Fund, at which time it shall replace the Fund's Amended Plan and Restated Agreement of Distribution Plan adopted for the Shares made as of April 28, 1988 as amended as of December 30, 1988, August 14, 1990, October 18, 1990, August 23, 1994 1991 and the Amended and Restated Distribution Agreement for the Shares dated December 23September 1, 19941993. Unless terminated as hereinafter provided, it shall continue in effect from year to year thereafter from the date first set forth above or as the Board may otherwise determine only so long as such continuance is specifically approved at least annually by a vote of the Board and its Independent Trustees cast in person at a meeting called for the purpose of voting on such continuance. This Plan may not be amended to increase materially the amount of payments to be made without approval of the Class B A Shareholders, in the manner described above, and all material amendments must be approved by a vote of the Board and of the Independent Trustees. This Plan may be terminated at any time by vote of a majority of the Independent Trustees or by the vote of the holders of a "majority" (as defined in the 0000 Xxx1940 Act) of the Fund's outstanding voting securities of the xx xxx Class. In the event of such termination, the Board and its Independent Trustees shall determine whether the Distributor shall be is entitled to payment from the Fund of all or a portion of the Service Fee and/or the Asset-Based Sales Charge in respect of Shares sold prior to the effective date of such termination.

Appears in 2 contracts

Samples: Distribution and Service Plan and Agreement (Oppenheimer Quest for Value Funds), Distribution and Service Plan and Agreement (Oppenheimer Quest for Value Funds)

Effectiveness, Continuation, Termination and Amendment. This Amended and Restated Plan has been approved by a vote of the Board and its Independent Trustees cast in person at a meeting called on June 22, 1995, for the purpose of voting on this Plan, and shall take effect after approval by Class B shareholders of the Fund, at which time it shall replace the Fund's Amended and Restated Distribution Plan adopted as of December 23, 1994 and the Amended and Restated Distribution Agreement for the Shares dated December 23, 1994. Unless terminated as hereinafter provided, it shall continue in effect from year to year thereafter or as the Board may otherwise determine only so long as such continuance is specifically approved at least annually by a vote of the Board and its Independent Trustees cast in person at a meeting called for the purpose of voting on such continuance. This Plan may not be amended to increase materially the amount of payments to be made without approval of the Class B Shareholders, in the manner described above, and all material amendments must be approved by a vote of the Board and of the Independent Trustees. This Plan may be terminated at any time by vote of a majority of the Independent Trustees or by the vote of the holders of a "majority" (as defined in the 0000 Xxx) of the Fund's outstanding voting securities of the Class. In the event of such termination, the Board and its Independent Trustees shall determine whether the Distributor shall be entitled to payment from the Fund of all or a portion of the Service Fee and/or the Asset-Based Sales Charge in respect of Shares sold prior to the effective date of such termination.

Appears in 1 contract

Samples: Distribution and Service Plan and Agreement (Quest for Value Family of Funds)

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Effectiveness, Continuation, Termination and Amendment. This Amended and Restated Plan has been approved by a vote of the ----------------------------------------------------------- Board and its Independent Trustees cast in person at a meeting called on June 22February 29, 19952000, for the purpose of voting on this Plan and further approved by a majority vote of the Class B Shareholders of the Fund at a special meeting held on October 31, 2000 for the purpose of voting to approve this Plan, and shall take effect after approval by Class B shareholders as of the Fund, at which time it shall replace the Fund's Amended and Restated Distribution Plan adopted as of December 23, 1994 and the Amended and Restated Distribution Agreement for the Shares dated December 23, 1994date first set forth above. Unless terminated as hereinafter provided, it shall continue in effect until renewed by the Board in accordance with the Rule and thereafter from year to year thereafter or as the Board may otherwise determine but only so long as such continuance is specifically approved at least annually by a vote of the Board and its Independent Trustees cast in person at a meeting called for the purpose of voting on such continuance. This Plan may not be amended to increase materially the amount of payments to be made under this Plan, without approval of the Class B Shareholders, in the manner described aboveShareholders at a meeting called for that purpose, and all material amendments must be approved by a vote of the Board and of the Independent Trustees. This Plan may be terminated at any time by vote of a majority of the Independent Trustees or by the vote of the holders of a "majority" (as defined in the 0000 Xxx1940 Act) of the Fund's outstanding Xxxxx B voting securities of the Classshares. In the event of such termination, the Board and its Independent Trustees shall determine whether the Distributor shall be entitled to payment from the Fund of all or a portion of the Service Fee and/or the Asset-Based Sales Charge in respect of Shares sold prior to the effective date of such termination.

Appears in 1 contract

Samples: Distribution and Service Plan and Agreement (Oppenheimer High Yield Fund Inc)

Effectiveness, Continuation, Termination and Amendment. This Amended and Restated Plan has been approved by a vote of the Board and its Independent Trustees cast in person at a meeting called on June 22, 1995, for the purpose of voting on this Plan, and shall take effect after approval by Class B shareholders of the Fund, at which time it shall replace the Fund's Amended and Restated Distribution Plan adopted as of December 23, 1994 and the Amended and Restated Distribution Agreement for the Shares dated December 23, 1994. Unless terminated as hereinafter provided, it shall continue in effect from year to year thereafter or as the Board may otherwise determine only so long as such continuance is specifically approved at least annually by a vote of the Board and its Independent Trustees cast in person at a meeting called for the purpose of voting on such continuance. This Plan may not be amended to increase materially the amount of payments to be made without approval of the Class B Shareholders, in the manner described above, and all material amendments must be approved by a vote of the Board and of the Independent Trustees. This Plan may be terminated at any time by vote of a majority of the Independent Trustees or by the vote of the holders of a "majority" (as defined in the 0000 Xxx1940 Act) of the Fund's outstanding voting securities of the Classxxx Xxxss. In the event of such termination, the Board and its Independent Trustees shall determine whether the Distributor shall be entitled to payment from the Fund of all or a portion of the Service Fee and/or the Asset-Based Sales Charge in respect of Shares sold prior to the effective date of such termination.

Appears in 1 contract

Samples: Distribution and Service Plan and Agreement (Oppenheimer Quest for Value Funds)

Effectiveness, Continuation, Termination and Amendment. This Amended and Restated Plan has been approved by a vote of the Board and its Independent Trustees cast in person at a meeting called on June 22, 1995, for the purpose of voting on this Plan, and shall take effect after approval by Class B shareholders of the Fund, at which time it shall replace the Fund's Amended and Restated Distribution Plan adopted as of December 23, 1994 and the Amended and Restated Distribution Agreement for the Shares dated December 23, 1994. Unless terminated as hereinafter provided, it shall continue in effect from year to year thereafter or as the Board may otherwise determine only so long as such continuance is specifically approved at least annually by a vote of the Board and its Independent Trustees cast in person at a meeting called for the purpose of voting on such continuance. This Plan may not be amended to increase materially the amount of payments to be made without approval of the Class B Shareholders, in the manner described above, and all material amendments must be approved by a vote of the Board and of the Independent Trustees. This Plan may be terminated at any time by vote of a majority of the Independent Trustees or by the vote of the holders of a "majority" (as defined in the 0000 Xxx1940 Act) of the Fund's outstanding voting securities of the Classxxx Xxxss. In the event of such termination, the Board and its Independent Trustees shall determine whether the Distributor shall be entitled to payment from the Fund of all or a portion of the Service Fee and/or the Asset-Based Sales Charge in respect of Shares sold prior to the effective date of such termination.

Appears in 1 contract

Samples: Distribution and Service Plan and Agreement (Oppenheimer Quest for Value Funds)

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