Independent Trustees. After completion of the Trust's initial public offering of Shares, a majority of the Trustees holding office shall at all times be Trustees who are not "interested persons" of the Trust (as defined in the Investment Company Act of 1940, as amended), except for the fact of their being Trustees; and, provided, however, that less than a majority of the Trustees may be such independent Trustees on a temporary basis by reason of the death, resignation, removal or other vacancy in the office of one or more Trustees.
Independent Trustees. Compensation and expenses of the Trustees who are not “interested persons” (as defined in the 1940 Act) of the Trust (the “Independent Trustees”) and fees and expenses of counsel to the Independent Trustees;
Independent Trustees. In accordance with Section 3801(h) of the Delaware Act, a Trustee is an independent Trustee if the Trustee is not an Interested Person of the Trust; provided that the receipt of compensation for service as an independent Trustee of the Trust and also for service as an independent Trustee of one or more other investment companies managed by a single investment adviser (or an affiliated person, as defined in Section 2(a)(3) of the 1940 Act, of such investment adviser) shall not affect the status of the Trustee as an independent Trustee under the Delaware Act. An independent Trustee shall be deemed to be independent and disinterested for all purposes.
Independent Trustees. Dollar Aggregate Name, Address,2 Age, Range of Dollar Range of Position(s) Held with Principal Occupation(s) During Past 5 Years / Other Shares Shares Owned in Fund and Length of Trusteeships/Directorships Held by Trustee / Number of Owned in any of the Service3 Portfolios in Fund Complex Overseen by Trustee the Fund Board III Funds ----------------------- ----------------------------------------------------------------- ------------ ----------------- ----------------------- ----------------------------------------------------------------- ------------ ----------------- Xxxxxx X. Xxxxxxxx, Principal of Xxxxxxxx Associates, Inc. (venture capital firm); None $10,001 - Chairman of the Board former General Partner of Trivest Venture Fund (private venture of Trustees, Trustee capital fund); former President of Investment Counseling since 1996 Federated Investors, Inc.; Trustee of Cash Assets Trust, a Age: 68 money market fund; Director of OCC Cash Reserves, Inc. and Trustee of OCC Accumulation Trust, both of which are open-end $50,000 investment companies; Trustee of four funds for Pacific Capital and Tax Free Trust of Arizona. Oversees 10 portfolios in the OppenheimerFunds complex. ----------------------- ----------------------------------------------------------------- ------------ ----------------- ----------------------- ----------------------------------------------------------------- ------------ ----------------- Xxxx Xxxxxx, Trustee, Director, Xxxxxxxxx Xxxxxx Income Managers Trust, Neuberger & since 1992 Xxxxxx Income Funds and Xxxxxxxxx Xxxxxx Trust, (1995 - Age: 72. present); Xxxxxxxxx Xxxxxx Equity Funds (November 2000 - present); Trustee, Xxxxxxxxx Xxxxxx Mutual Funds (October 1994 - present); formerly Chairman and Treasurer, CDC Associates, a $10,001 - registered investment adviser (December 1993 - February 1996); None $50,000 Independent Consultant; Chief Investment Officer, CDC Associates (1996 - June 2000); Consultant and director, CDC Associates (December 1993 - February 1999). Oversees three portfolios in the OppenheimerFunds complex. ----------------------- ----------------------------------------------------------------- ------------ ----------------- ----------------------- ----------------------------------------------------------------- ------------ ----------------- Xxxx X. Xxxxxxx, Principal of Clinton Management Associates, a financial and Trustee, since 1996 venture capital consulting firm; Trustee of Capital Cash Age: 70. Management...
Independent Trustees. The liability of any Independent Trustee under this Agreement is limited to the trust property available to meet that liability. However, this limitation does not apply if the relevant Independent Trustee loses its right to be indemnified out of the trust property, or diminishes the value of the trust property through its fraud or wilful breach of trust (in which case we can claim against that Independent Trustee personally to the extent we are unable to recover amounts due to us from the trust property).
Independent Trustees. From the Effective Time, as defined in the Agreement and Plan of Merger among Xxxxxx Asset Management, Ltd., Xxxxxx Asset Management, L.P., Liberty Financial Companies, Inc. and WAM Acquisition L.P. dated as of June 9, 2000, through and including the third anniversary of the Effective Time, the Trust may not at any time have a board more than 25% of the members of which are persons who are "interested persons" of the Trust's investment adviser or of Xxxxxx Asset Management, L.P., as the term "interested persons" is defined by the Investment Company Act of 1940. [added 9/20/00]
Independent Trustees. The liability of any independent trustee under the Agreement is not an unlimited or personal liability and instead is limited to the funds from time to time belonging to the trust on behalf of which they have entered into the Agreement, in the proper course of the administration of that trust. In this clause, an independent trustee is any party who has signed the Agreement in their capacity as the trustee of a trust and who is not a beneficiary of the trust nor has any right to, or interest in, any of the assets of the trust except in their capacity as trustee of that trust.
Independent Trustees. Independent Trustees" shall mean the Trustees who (i) are not affiliated, directly or indirectly, with the Advisor, a Sponsor or their Affiliates, whether by ownership of, ownership interest in, employment by, any material business or professional relationship with, or service as an officer or director of the Advisor, a Sponsor or their Affiliates, (ii) do not serve as a director or trustee for more than three other REITs organized by a Sponsor, or advised by the Advisor and (iii) perform no other services for the Trust except as trustees. For this purpose, an indirect relationship shall include circumstances in which a member of the immediate family of a Trustee has one of the foregoing relationships with the Advisor, a Sponsor or the Trust.
Independent Trustees. Where a person or entity is identified in the Commercial Terms as an independent trustee, that independent trustee will have no personal liability to us under this Agreement except in respect of any loss or cost that we incur as a result of: a that independent trustee being unable to recover (in whole or in part) from the trust assets because that independent trustee has acted without power or improperly in relation to the trust; b any statement made by that independent trustee in a trustee’s certificate (or any similar certificate, promise or statement) being misleading or untrue in a material respect when made; or c fraud, negligence or wilful default on the part of that independent trustee (including, for the avoidance of doubt, any fraud, negligence or wilful default on the part of that independent trustee that results in a breach of any promise in clause 14.1), and in each such case, that independent trustee will have unlimited personal liability.
Independent Trustees. Aggregate Dollar Name, Address,1 Age, Range of Shares Position(s) Held with Principal Occupation(s) During Past 5 Years / Other Dollar Range of Owned in any of Fund and Length of Time Trusteeships Held by Trustee / Number of Portfolios Shares Owned in the Board IV Served2 in Fund Complex Overseen by Trustee the Fund Funds3 -------------------------- ------------------------------------------------------ ----------------- ------------------ -------------------------- ------------------------------------------------------ ----------------- ------------------ Xxxxxx X. Xxxxx, Trustee President, Xxxxx Corporation (operator of $0 $0 since February 2002, restaurants): Trustee, Xxxxx G&R Trust and Xxxxx Co. Age70. (owners and operators of restaurant properties); Partner, Xxxxx Partnership, Xxxxx Auburn Associates and Xxxxx Hazard Associates (owners and operators of restaurant properties); Chairman, Western Mass Development Corp; Chairman, American International College; Trustee (since 1993) of MML Series Investment Fund and Trustee (since 1994) of MassMutual Institutional Funds (open-end investment companies). Trustee/manager of three investment companies in the OppenheimerFunds complex. -------------------------- ------------------------------------------------------ ----------------- ------------------ -------------------------- ------------------------------------------------------ ----------------- ------------------
