Common use of Meeting of Beneficiaries Clause in Contracts

Meeting of Beneficiaries. Meetings of the Beneficiaries may be called at any time and from time to time for the purpose of taking any action which Beneficiaries are permitted to take under the terms of this Trust Agreement or under applicable law. The Trustee may at any time call a meeting of the Beneficiaries to be held at such time and at such place as the Trustee shall determine. Notice of any meeting of the Beneficiaries shall be given by the Trustee. Such notice shall set forth the time and place of the meeting and in general terms the action to be proposed at the meeting and shall be mailed not more than 60 nor less than 10 days before the meeting is to be held to all of the Beneficiaries as of a record date not more than 60 days before the date of the meeting. Each Beneficiary as of the record date shall be entitled to vote at a meeting of the Beneficiaries, either in person or by his, her or its proxy duly authorized in writing. At any meeting of Beneficiaries, the presence of a majority-in-interest of the Beneficiaries shall constitute a quorum. The signature of the Beneficiary on such written authorization need not be witnessed or notarized. The Trustee may establish such rules and regulations as it deems advisable for the conduct of any meeting of Beneficiaries.