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 pursuant to the terms set forth in the Trust’s or applicable Series’ then current Registration Statement, this Section 4 and 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 pursuant to the terms set forth in the Trust’s or applicable Series’ then current Registration Statement, this 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.