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

Effectiveness, Continuation, Termination and Amendment. This Plan has been approved by a vote of the Independent Trustees cast in person at a meeting called on October 28, 2005 for the purpose of voting on this Plan and replaces the prior Amended and Restated Distribution and Service Plan and Agreement for the Fund's Service Shares. Unless terminated as hereinafter provided, it shall continue in effect until renewed by the Board in accordance with Rule 12b-1 under the 1940 Act and 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 the Board and its Independent Trustees by a vote cast in person at a meeting called for the purpose of voting on such continuance. 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 1940 Act) of the Fund's outstanding voting Service shaxxx. Xx 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 in respect of Shares sold prior to the effective date of such termination. This Plan may not be amended to increase materially the amount of payments to be made without approval of the Service Shareholders, in the manner described above, and all material amendments must be approved by a vote of the Board and of the Independent Trustees.

Appears in 6 contracts

Samples: Distribution And (Oppenheimer Variable Account Funds), Distribution And (Oppenheimer Variable Account Funds), Service Plan and Agreement (Oppenheimer Variable Account Funds)

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Effectiveness, Continuation, Termination and Amendment. This Plan has been approved by a vote of the Independent Trustees cast in person at a meeting called on October 28, 2005 for the purpose of voting on this Plan and replaces the prior Amended and Restated Distribution and Service Plan and Agreement for the Fund's Service Shares. Unless terminated as hereinafter provided, it shall continue in effect until renewed by the Board in accordance with Rule 12b-1 under the 1940 Act and 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 the Board and its Independent Trustees by a vote cast in person at a meeting called for the purpose of voting on such continuance. 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 1940 Act) of the Fund's outstanding voting Service shaxxxshxxxx. Xx 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 in respect of Shares sold prior to the effective date of such termination. This Plan may not be amended to increase materially the amount of payments to be made without approval of the Service Shareholders, in the manner described above, and all material amendments must be approved by a vote of the Board and of the Independent Trustees.

Appears in 2 contracts

Samples: Distribution And (Oppenheimer Variable Account Funds), Distribution And (Oppenheimer Variable Account Funds)

Effectiveness, Continuation, Termination and Amendment. This Plan has been approved by a vote of the Independent Trustees cast in person at a meeting called on October 28, 2005 for the purpose of voting on this Plan and replaces the prior Amended and Restated Distribution and Service Plan and Agreement for the Fund's Service Shares. Unless terminated as hereinafter provided, it shall continue in effect until renewed by the Board in accordance with Rule 12b-1 under the 1940 Act and 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 the Board and its Independent Trustees by a vote cast in person at a meeting called for the purpose of voting on such continuance. 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 1940 Act) of the Fund's outstanding voting Service shaxxxsxxxxx. Xx Xn 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 in respect of Shares sold prior to the effective date of such termination. This Plan may not be amended to increase materially the amount of payments to be made without approval of the Service Shareholders, in the manner described above, and all material amendments must be approved by a vote of the Board and of the Independent Trustees.

Appears in 1 contract

Samples: Distribution And (Oppenheimer Variable Account Funds)

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Effectiveness, Continuation, Termination and Amendment. This Plan has been approved by a vote of the Independent Trustees cast in person at a meeting called on October 28, 2005 for the purpose of voting on this Plan and replaces the prior Amended and Restated Distribution and Service Plan and Agreement for the Fund's Service Shares. Unless terminated as hereinafter provided, it shall continue in effect until renewed by the Board in accordance with Rule 12b-1 under the 1940 Act and 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 the Board and its Independent Trustees by a vote cast in person at a meeting called for the purpose of voting on such continuance. 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 1940 Act) of the Fund's outstanding voting Service shaxxxsharxx. Xx the xhe 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 in respect of Shares sold prior to the effective date of such termination. This Plan may not be amended to increase materially the amount of payments to be made without approval of the Service Shareholders, in the manner described above, and all material amendments must be approved by a vote of the Board and of the Independent Trustees.

Appears in 1 contract

Samples: Distribution And (Oppenheimer Variable Account Funds)

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