Equal Representation on Board. Deadlock – In the event of a deadlock, a neutral party agreed to by a majority of the Trustees shall be appointed to consider the matter and vote to break the deadlock. A neutral party may be appointed in advance of any deadlock.
Appears in 7 contracts
Sources: Agreement and Declaration of Trust, Agreement and Declaration of Trust, Agreement and Declaration of Trust
Equal Representation on Board. Deadlock – -- In any decision, the Board shall act only on a vote of a majority of the Trustees. In the event of a deadlock, a neutral party agreed to by a majority of the Trustees shall be appointed to consider the matter and vote to break the deadlock. A neutral party may be appointed in advance of any deadlock.
Appears in 1 contract
Sources: Trust Agreement