Eligible Tender Offer Sample Clauses
Eligible Tender Offer. Notwithstanding any other provision in this Declaration or the By-Laws, if the Trust completes an Eligible Tender Offer (as defined below), this Section 3 of Article VIII may be amended by the affirmative vote of a majority of the Trustees or by an instrument signed by a majority of the Trustees, without a vote of the Shareholders of the Trust, to eliminate the Termination Date and, if applicable, the Extended Termination Date, and cause the Trust to have a perpetual existence. As used in this Section 3 of Article VIII, an “Eligible Tender Offer” is defined as a tender offer by the Trust to purchase up to 100% of the then outstanding Shares of the Trust at a price equal to the net asset value per Share on the expiration date of the tender offer, which expiration date shall be as of a date within twelve months preceding the Termination Date or, in the event that the term of the Trust has been or will be extended pursuant Section 3(c) of this Article VIII, the Extended Termination Date. Notwithstanding any other provision in this Declaration of Trust to the contrary, the Trust may conduct an Eligible Tender Offer upon the affirmative vote of a majority of the Trustees or by an instrument signed by a majority of the Trustees, without a vote of the Shareholders of the Trust.
Eligible Tender Offer. Notwithstanding any other provision in this Declaration or the By-Laws, if the Trust completes an Eligible Tender Offer pursuant to the terms set forth in the Trust’s or applicable Series’ then current Registration Statement, Section 4 and this Section 5 of this Article IX may be amended by the affirmative vote of a majority of the Trustees or by an instrument signed by a majority of the Trustees, without a vote of the shareholders of the Trust, unless such approval is required by the 1940 Act, eliminate the Dissolution Date or revoke dissolution of the Trust or any Series and cause the Trust to have a perpetual existence. As used in this Section 5 of Article VIII, an “Eligible Tender Offer” is defined as a tender offer by the Trust to purchase 100% of the then Outstanding Shares of the Trust at a price equal to the net asset value per Share on the expiration date of the tender offer, which shall be as of a date within twelve months preceding the Dissolution Date. Notwithstanding any other provision in this Declaration to the contrary, the Trust may conduct an Eligible Tender Offer upon the affirmative vote of a majority of the Trustees or by an instrument signed by a majority of the Trustees, without a vote of the Shareholders of the Trust.
Eligible Tender Offer. Notwithstanding any other provision in this Declaration or the By-Laws, if the Trust completes an Eligible Tender Offer (as defined below), this Section 3 of Article VIII may be amended by the affirmative vote of a majority of the Trustees or by an instrument signed by a majority of the Trustees, without a vote of the shareholders of the Trust, to: (i) eliminate the Termination Date and cause the Trust to have a perpetual existence as a closed-end fund; or (ii) implement a new termination date which will replace December 31, 2036 as the “Termination Date” as such term is defined in Section 3(a) of this Article VIII. As used in this Section 3(d) of Article VIII, an “Eligible Tender Offer” is defined as a tender offer by the Trust to purchase 100% of the then outstanding Shares of the Trust at a price equal to the net asset value per Share calculated in accordance with the Trust’s valuation procedures as of the date specified in the tender offer, with the expiration date of the tender offer being as of a date within twelve months preceding the Termination Date. If the payment for properly tendered shares would result in the Trust’s net assets totaling less than $200 million (the “Termination Threshold”), the Eligible Tender Offer shall be canceled, no Shares will be repurchased pursuant to the Eligible Tender Offer, and the Trust will dissolve as scheduled in accordance with Section 3(b) of this Article VIII. If an Eligible Tender Offer is conducted and the payment for properly tendered Shares would result in the Trust’s net assets totaling greater than or equal to the Termination Threshold, all Shares properly tendered and not withdrawn will be purchased by the Trust pursuant to the terms of the Eligible Tender Offer. Notwithstanding any other provision in this Declaration of Trust to the contrary, the Trust may conduct an Eligible Tender Offer upon the affirmative vote of a majority of the Trustees or by an instrument signed by a majority of the Trustees, without a vote of the shareholders of the Trust.
Eligible Tender Offer. Notwithstanding any other provision in this Declaration or the By-Laws, if the Trust completes an Eligible Tender Offer (as defined below), this Section 8.3 of Article VIII may be amended by the affirmative vote of a majority of the Trustees or by an instrument signed by a majority of the Trustees, without a vote of the shareholders of the Trust, to eliminate the Termination Date and cause the Trust to have a perpetual existence as a closed-end fund.