Establishment and Designation of Series. Unless the Board of Trustees shall specify another time, the establishment and designation of any Series or class of Shares shall be effective upon the adoption of a resolution by a majority of the then Board of Trustees, which sets forth such establishment and designation and the relative rights and preferences of such Series or class, whether directly in such resolution or by reference to, or approval of, another document or as otherwise provided in such resolution. Each Series shall be separate and distinct from any other Series and records shall be maintained on the books of the Trust in a manner permitted by Section 3804 of the Delaware Act, and the assets and liabilities belonging to any such Series shall be held and accounted for in a manner permitted by Section 3804 of the Delaware Act separately from the assets and liabilities of the Trust or any other Series. Shares of each Series or class established pursuant to this Section 6, unless otherwise provided in the resolution establishing such Series, shall have the following relative rights and preferences:
Appears in 10 contracts
Samples: Agreement and Declaration of Trust (Pop Venture Fund), Agreement and Declaration of Trust (Pop Venture Fund), Agreement and Declaration of Trust (Axxes Private Markets Fund)
Establishment and Designation of Series. Unless the Board of Trustees shall specify another time, the establishment and designation of any Series or class of Shares shall be effective upon the adoption of a resolution by a majority of the then Board of Trustees, which sets forth such establishment and designation and the relative rights and preferences of such Series or class, whether directly in such resolution or by reference to, or approval of, another document or as otherwise provided in such resolution. Each Series shall be separate and distinct from any other Series and shall maintain records shall be maintained on the books of the Trust in a manner permitted by Section 3804 of the Delaware Act, and the assets and liabilities belonging to any such Series shall be held and accounted for in a manner permitted by Section 3804 of the Delaware Act separately from the assets and liabilities of the Trust or any other Series. Shares of each Series or class established pursuant to this Section 6, unless otherwise provided in the resolution establishing such Series, shall have the following relative rights and preferences:
Appears in 10 contracts
Samples: Trust Agreement (Nexpoint Event-Driven Fund), Trust Agreement (Nexpoint Latin American Opportunities Fund), Agreement and Declaration of Trust (Nexpoint Opportunistic Credit Fund)
Establishment and Designation of Series. Unless the Board of Trustees shall specify another time, the establishment and designation of any Series or class of Shares shall be effective upon the adoption of a resolution by a majority of the then Board of Trustees, which sets forth such establishment and designation and the relative rights and preferences of such Series or class, whether directly in such resolution or by reference to, or approval of, another document or as otherwise provided in such resolution. Each Series shall be separate and distinct from any other Series and shall maintain records shall be maintained on the books of the Trust in a manner permitted by Section 3804 of the Delaware Act, and the assets and liabilities belonging to any such Series shall be held and accounted for in a manner permitted by Section 3804 of the Delaware Act separately from the assets and liabilities of the Trust or any other Series. Shares of each Series or class established pursuant to this Section 6, unless otherwise provided in the resolution establishing such Series, shall have the following relative rights and preferences:
Appears in 1 contract
Samples: Agreement and Declaration of Trust (Arca U.S. Treasury Fund)
