Common use of Eligible Tender Offer Clause in Contracts

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 (as defined below), this Section 3 2 of Article VIII 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, 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 2 of Article VIIIIX, 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(c2(c) of this Article VIIIIX, 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.