Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by the Trustees; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "annual meeting") shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classified, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "second annual meeting"); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist of at least one Trustee. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution Trustees to each of the three Classes. The Trustees also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution of the Trustees. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 of this Article IV, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 12 contracts
Samples: RMR Hospitality And (RMR Hospitality & Real Estate Fund), RMR Preferred (RMR Preferred Dividend Fund II), RMR Securities Reit (RMR Securities REIT)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by a written instrument signed by a majority of the Trustees; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The Trustees who are signatories to this Declaration on the date hereof and such other persons as the Trustee or Trustees then in office shall appoint (to fill a vacancy or otherwise) prior to any sale of Shares pursuant to a public offering, shall each serve until the first meeting of Shareholders at which Trustees are elected (or, if later, until the first meeting of Shareholders at which Trustees of the Class to which such Trustee has been assigned are elected) and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen fifteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "annual meeting") shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "second annual meeting"); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Fund) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IVArticle, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 7 contracts
Samples: Agreement and Declaration of Trust (Pimco Corporate Opportunity Fund), Agreement and Declaration of Trust (Pimco New York Municipal Income Fund Ii), Agreement and Declaration of Trust (Pimco New York Municipal Income Fund Iii)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by the Trusteesvote of a majority of the Trustees then in office; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall appoint (to fill a vacancy or otherwise) prior to any sale of Shares pursuant to a public offering, shall each serve until the first meeting of Shareholders at which Trustees are elected (or, if later, until the first meeting of Shareholders at which Trustees of the Class to which such Trustee has been assigned are elected) and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen twenty-four months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "“annual meeting"”) shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each each, a "“Class"”): Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "“second annual meeting"”); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Trust) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IV, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 3 contracts
Samples: Agreement and Declaration of Trust (AllianzGI Artificial Intelligence & Technology Opportunities Fund), Agreement and Declaration of Trust (PIMCO Energy & Tactical Credit Opportunities Fund), Agreement and Declaration of Trust (PIMCO Energy & Tactical Credit Opportunities Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series ---------- of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by a written instrument signed by a majority of the Trustees; provided, however, that the number of Trustees shall -------- ------- in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. An The Trustees who are signatories to this Declaration on the date hereof and such other persons as the Trustee or Trustees then in office shall appoint (to fill a vacancy or otherwise) prior to any sale of Shares pursuant to a public offering, shall each serve until the date of the initial annual meeting of Shareholders or special meeting in lieu thereof (hereinafter referred to as an "annual meeting"), which annual meeting shall be called to be held not more than eighteen fifteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "annual meeting") shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classified, Beginning with respect to the time for which they severally hold office, into the following three classes (each a "Class"): Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (of Shareholders, the "second annual meeting"); Board of Trustees shall be divided into three classes, designated as Class I, Class II and Class III, whose term expires at . The number of Trustees in each class shall be determined by resolution of the next succeeding annual meeting after the second annual meetingBoard of Trustees. Each Class class shall consist consist, as nearly as may be possible, of at least one Trustee. At each annual meeting beginning with the initial annual meeting, the successors one-third of the Class total number of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at constituting the annual meeting held in the third year following the year entire Board of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeTrustees. The Board of Trustees shall assign by resolution Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class class that shall be elected by Shareholders of a particular class of Shares (e.g., by a class of preferred Shares issued by the Fund). At the initial annual meeting of Shareholders, Class I Trustees shall be elected for a one-year term, Class II Trustees shall be elected for a two-year term and Class III Trustees shall be elected for a three-year term. At each annual meeting of Shareholders (if required to be held) beginning with the annual meeting of Shareholders next succeeding the initial annual meeting, successors to the class of Trustees whose term expires at that annual meeting shall be elected for a three-year term. A Trustee elected at an annual meeting shall hold office until the annual meeting for the year in which his term expires and until his successor shall be elected and shall qualify, subject, however, to prior death, resignation, retirement, disqualification or series of Sharesremoval from office. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IVArticle, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 3 contracts
Samples: Agreement and Declaration (Pimco California Municipal Income Fund), Agreement and Declaration (Pimco Municipal Income Fund), Agreement and Declaration (Pimco New York Municipal Income Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. SECTION 1 Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by a majority of the Trustees; providedPROVIDED, howeverHOWEVER, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a an initial registered public offering. The Trustee or Trustees who are signatories to this Declaration as of the date hereof and such other persons as the Trustee or Trustees then in office shall appoint (to fill a vacancy or otherwise) prior to any sale of Shares pursuant to an initial registered public offering shall each serve until the first meeting of Shareholders at which Trustees are elected (or, if later, until the first meeting of Shareholders at which Trustees of the Class to which such Trustee has been assigned are elected) and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires or is disqualified or removed from office, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen fifteen months after Shares are first sold pursuant to a an initial registered public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "annual meeting") shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a an initial registered public offering, the Trustees shall be classifiedclassify themselves by resolution, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "second annual meeting"); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (E.G., by a class of preferred Shares issued by the Trust) prior to the initial registered public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible, with the result that, to the extent a Trustee is assigned to a new Class, his or her term as Trustee shall coincide with that of his or her newly assigned Class. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IVArticle, after the initial registered public offering of the Shares, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 3 contracts
Samples: Agreement and Declaration of Trust (Old Mutual/Claymore Long-Short Fund (f.k.a. Analytic Covered Call Plus Fund)), Agreement and Declaration of Trust (Old Mutual/Claymore Global Long-Short Fund), Agreement and Declaration of Trust (Old Mutual/Claymore Long-Short Fund (f.k.a. Analytic Covered Call Plus Fund))
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or ---------- series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by a written instrument signed by a majority of the Trustees; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The initial Trustees, each of whom shall serve until the first meeting of Shareholders at which Trustees are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, shall be Matthew Shea and such other persons as the Trustee or Trustees then in xxxxxx xxxxx, prior to any sale of Shares pursuant to a public offering, elect, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen fifteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "annual meeting") shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classified, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "second annual meeting"); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of SharesShares (e.g., by a class of preferred Shares issued by the Fund). If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IVArticle, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 3 contracts
Samples: Agreement and Declaration of Trust (Pimco Municipal Income Fund Ii), Agreement and Declaration of Trust (Pimco New York Municipal Income Fund Ii), Agreement and Declaration of Trust (Pimco California Municipal Income Fund Ii)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by a written instrument signed by a majority of the Trustees; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The initial Trustees, each of whom shall serve until the first meeting of Shareholders at which Trustees are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, shall be Xxxxx X. Xxxxx and such other persons as the Trustee or Trustees then in office shall, prior to any sale of Shares pursuant to a public offering, elect, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen fifteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "“annual meeting"”) shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "“second annual meeting"”); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Fund) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IVArticle, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 3 contracts
Samples: Agreement and Declaration of Trust (PEA/RCM Micro-Cap & Premium Strategy Fund), Agreement and Declaration of Trust (PAFM NACM International & Premium Strategy Fund), Agreement and Declaration of Trust (PIMCO Global StocksPLUS Income Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by the Trusteesvote of a majority of the Trustees then in office; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall appoint (to fill a vacancy or otherwise) prior to any sale of Shares pursuant to a public offering, shall each serve until the first meeting of Shareholders at which Trustees are elected (or, if later, until the first meeting of Shareholders at which Trustees of the Class to which such Trustee has been assigned are elected) and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen twenty-four months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "“annual meeting"”) shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "“second annual meeting"”); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Fund) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IV, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 3 contracts
Samples: Agreement and Declaration of Trust (AllianzGI Convertible & Income 2024 Target Term Fund), Agreement and Declaration of Trust (AllianzGI Diversified Income & Convertible Fund), Agreement and Declaration (PIMCO Dynamic Income Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSECTION 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by a majority of the Trustees; providedPROVIDED, howeverHOWEVER, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a an initial registered public offering. The Trustee or Trustees who are signatories to this Declaration as of the date hereof and such other persons as the Trustee or Trustees then in office shall appoint (to fill a vacancy or otherwise) prior to any sale of Shares pursuant to an initial registered public offering shall each serve until the first meeting of Shareholders at which Trustees are elected (or, if later, until the first meeting of Shareholders at which Trustees of the Class to which such Trustee has been assigned are elected) and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires or is disqualified or removed from office, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen fifteen months after Shares are first sold pursuant to a an initial registered public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "annual meeting") shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a an initial registered public offering, the Trustees shall be classifiedclassify themselves by resolution, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "second annual meeting"); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (E.G., by a class of preferred Shares issued by the Trust) prior to the initial registered public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible, with the result that, to the extent a Trustee is assigned to a new Class, his or her term as Trustee shall coincide with that of his or her newly assigned Class. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IVArticle, after the initial registered public offering of the Shares, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 3 contracts
Samples: Agreement and Declaration of Trust (Western Asset/Claymore Inflation-Protected Securities Fund), Agreement and Declaration of Trust (Western Asset Claymore Us Treasury Inflation Pro Sec Fund 2), Agreement and Declaration of Trust (Western Asset/Claymore Inflation-Protected Securities Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by the Trusteesvote of a majority of the Trustees then in office; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall appoint (to fill a vacancy or otherwise) prior to any sale of Shares pursuant to a public offering, shall each serve until the first meeting of Shareholders at which Trustees of the class to which the Trustee has been classified are elected (or, if later, until the first meeting of Shareholders at which Trustees of the Class to which such Trustee has been assigned are elected), or until the effective date of the first such election of Trustees pursuant to a written consent of Shareholders in lieu of a meeting, if sooner and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "“annual meeting"”) shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each each, a "“Class"”): Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "“second annual meeting"”); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, retires or is disqualified or removed from office. The Trustees shall assign and/or reassign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Fund) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IV, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 2 contracts
Samples: Agreement and Declaration of Trust (DoubleLine Yield Opportunities Fund), Agreement and Declaration of Trust (DoubleLine Yield Opportunities Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by a written instrument signed by a majority of the Trustees; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The initial Trustees, each of whom shall serve until the first meeting of Shareholders at which Trustees are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, shall be Xxxxx X. Xxxxxx and such other persons as the Trustee or Trustees then in office shall, prior to any sale of Shares pursuant to a public offering, elect, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen fifteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "annual meeting") shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "second annual meeting"); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trustee. At each annual meeting beginning with the initial annual meeting, the successors one-third of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution Trustees to each of the three Classes. The Trustees also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares. If the total number of Trustees is changed, any increase or decrease shall be apportioned among constituting the Classes by resolution of the Trustees. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 of this Article IV, Trustees shall be elected only at an annual meeting of Shareholders.entire
Appears in 2 contracts
Samples: Agreement and Declaration of Trust (Pafm/NFJ Dividend & Equity Income Fund), Agreement and Declaration of Trust (NFJ Dividend, Interest & Premium Strategy Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by a written instrument signed by a majority of the Trustees; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The Trustees, who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall appoint (to fill a vacancy or otherwise) prior to any sale of Shares pursuant to a public offering, shall each serve until the first meeting of Shareholders at which Trustees are elected (or, if later, until the first meeting of Shareholders at which Trustees of the Class to which such Trustee has been assigned are elected) and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen fifteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "annual meeting") shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "second annual meeting"); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Fund) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IVArticle, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 2 contracts
Samples: Agreement and Declaration of Trust (Nicholas Applegate Convertible & Income Fund Ii), Agreement and Declaration of Trust (Nicholas Applegate Convertible & Income Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by a written instrument signed by a majority of the Trustees; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The initial Trustees, each of whom shall serve until the first meeting of Shareholders at which Trustees are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, shall be Xxxxxxx Xxxxxxxx and such other persons as the Trustee or Trustees then in office shall, prior to any sale of Shares pursuant to a public offering, elect, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen fifteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "“annual meeting"”) shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "“second annual meeting"”); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Fund) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IVArticle, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 2 contracts
Samples: Agreement and Declaration of Trust (PIMCO Income Opportunity Fund), Agreement and Declaration of Trust (Nicholas Applegate Global Equity & Convertible Income Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by the Trusteesvote of a majority of the Trustees then in office; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The initial Trustees, each of whom shall serve until the first meeting of Shareholders at which Trustees are elected (or until the effective date of the first election of Trustees pursuant to a written consent of Shareholders in lieu of a meeting, if sooner) and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, shall be Xxxxxxxxxxx X. XxXxxxxxx and such other persons as the Trustee or Trustees then in office shall, prior to any sale of Shares pursuant to a public offering, elect, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen fifteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "“annual meeting"”) shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "“second annual meeting"”); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, retires or is disqualified or removed from office. The Trustees shall assign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Fund) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IV, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 2 contracts
Samples: Agreement and Declaration of Trust (Babson Capital Global High Yield Credit Opportunity Fund), Agreement and Declaration of Trust (Babson Capital Global Floating Rate & Income Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by a written instrument signed by a majority of the Trustees; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The initial Trustees, each of whom shall serve until the first meeting of Shareholders at which Trustees are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, shall be Xxxxx X. Xxxxxx and such other persons as the Trustee or Trustees then in office shall, prior to any sale of Shares pursuant to a public offering, elect, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen fifteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "“annual meeting"”) shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "“second annual meeting"”); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Fund) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IVArticle, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 2 contracts
Samples: Agreement and Declaration of Trust (PIMCO Floating Rate Strategy Fund), Agreement and Declaration of Trust (MassMutual High Income Investors Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by a written instrument signed by a majority of the Trustees; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The initial Trustees, each of whom shall serve until the first meeting of Shareholders at which Trustees are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, shall be Xxxxxxxxxxx X. Xxxxxx and such other persons as the Trustee or Trustees then in office shall, prior to any sale of Shares pursuant to a public offering, elect, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen fifteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "annual meeting") shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "second annual meeting"); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Fund) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IVArticle, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 2 contracts
Samples: Agreement and Declaration of Trust (Pimco California Municipal Income Fund Iii), Agreement and Declaration of Trust (Pimco New York Municipal Income Fund Iii)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by the Trustees; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "annual meeting") shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classified, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): Class I, whose term expires at the next succeeding annual meeting after the initial annual meeting; Class II, whose term expires at the next second succeeding annual meeting after the initial annual meeting (the "second annual meeting"); and Class III, whose term expires at the next succeeding annual meeting after the second initial annual meeting. Each Class shall consist of at least one Trustee. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution Trustees to each of the three Classes. The Trustees also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution of the Trustees. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 of this Article IV, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 2 contracts
Samples: Agreement and Declaration of Trust (RMR Dividend Capture Fund), Agreement and Declaration (RMR Asia Pacific Real Estate Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by a written instrument signed by a majority of the Trustees; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall appoint (to fill a vacancy or otherwise) prior to any sale of Shares pursuant to a public offering, shall each serve until the first meeting of Shareholders at which Trustees are elected (or, if later, until the first meeting of Shareholders at which Trustees of the Class to which such Trustee has been assigned are elected) and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen fifteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "“annual meeting"”) shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "“second annual meeting"”); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Fund) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IV, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 2 contracts
Samples: Agreement and Declaration of Trust (Stone Harbor Emerging Markets Income Fund), Agreement and Declaration of Trust (PIMCO Income Opportunity Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by the Trusteesvote of a majority of the Trustees then in office; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The Trustees, who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees shall appoint (to fill a vacancy or otherwise) prior to any sale of shares pursuant to a public offering, shall each serve until the first meeting of Shareholders at which Trustees are elected (or, if later, until the first meeting of Shareholders at which Trustees of the Class to which such Trustee has been assigned are elected) or until the effective date of the first election of Trustees pursuant to a written consent of Shareholders in lieu of a meeting, if sooner, and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen fifteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "“annual meeting"”) shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "“second annual meeting"”); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, retires or is disqualified or removed from office. The Trustees shall assign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Fund) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IV, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 2 contracts
Samples: Agreement and Declaration of Trust (Babson Capital Global Short Duration High Yield Fund), Agreement and Declaration of Trust (Babson Capital Global Short Duration High Yield Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by the Trusteesvote of a majority of the Trustees then in office; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The initial Trustee, who shall serve until the first meeting of Shareholders at which Trustees are elected (or, if later, until the first meeting of Shareholders at which Trustees of the Class to which such Trustee has been assigned are elected) and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, shall be Jordan X. Xxxxxxxxx and such other persons as the Trustee or Trustees then in office shall, prior to any sale of Shares pursuant to a public offering, elect, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen twenty-four months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "“annual meeting"”) shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "“second annual meeting"”); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Fund) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IV, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 2 contracts
Samples: Agreement and Declaration of Trust, Agreement and Declaration of Trust (AllianzGI Convertible & Income 2024 Target Term Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by a written instrument signed by a majority of the Trustees; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The initial Trustees, each of whom shall serve until the first meeting of Shareholders at which Trustees are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, shall be Kevin J. Ouellette and such other persons as the Trustee or Trustees thxx xx xxxxxx xxxxx, prior to any sale of Shares pursuant to a public offering, elect, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen fifteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "annual meeting") shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "second annual meeting"); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Fund) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IVArticle, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 2 contracts
Samples: Income Fund (Nicholas Applegate Convertible & Income Fund), Agreement and Declaration (Pimco Corporate Opportunity Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by the Trustees; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "annual meeting") shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classified, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "second annual meeting"); and Class III, whose term expires at the next second succeeding annual meeting after the second initial annual meeting. Each Class shall consist of at least one Trustee. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution Trustees to each of the three Classes. The Trustees also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution of the Trustees. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 of this Article IV, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 2 contracts
Samples: Agreement and Declaration (RMR Asia Real Estate Fund), Agreement and Declaration (RMR Dividend Capture Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by a written instrument signed by a majority of the Trustees; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The Trustees, who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall appoint (to fill a vacancy or otherwise) prior to any sale of Shares pursuant to a public offering, shall each serve until the first meeting of Shareholders at which Trustees are elected (or, if later, until the first meeting of Shareholders at which Trustees of the Class to which such Trustee has been assigned are elected) and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen fifteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "“annual meeting"”) shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "“second annual meeting"”); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Fund) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IVArticle, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 2 contracts
Samples: Agreement and Declaration of Trust (Nicholas Applegate Global Equity & Convertible Income Fund), Agreement and Declaration of Trust (Nicholas-Applegate Equity & Convertible Income Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by a written instrument signed by a majority of the Trustees; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The initial Trustees, each of whom shall serve until the first meeting of Shareholders at which Trustees are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, shall be Xxxxx X. Xxxxx and such other persons as the Trustee or Trustees then in office shall, prior to any sale of Shares pursuant to a public offering, elect, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen fifteen months after Shares first are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "“annual meeting"”) shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "“second annual meeting"”); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Fund) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee specifically is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IVArticle, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 1 contract
Samples: Agreement and Declaration of Trust (PIMCO CommoditiesPLUS Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by the Trusteesvote of a majority of the Trustees then in office; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The Trustees, who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall appoint (to fill a vacancy or otherwise) prior to any sale of Shares pursuant to a public offering, shall each serve until the first meeting of Shareholders at which Trustees are elected (or, if later, until the first meeting of Shareholders at which Trustees of the Class to which such Trustee has been assigned are elected), or until the effective date of the first election of Trustees pursuant to a written consent of Shareholders in lieu of a meeting, if sooner, and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen fifteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "“annual meeting"”) shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "“second annual meeting"”); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, retires or is disqualified or removed from office. The Trustees shall assign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Fund) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IV, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 1 contract
Samples: Agreement and Declaration of Trust (Stone Harbor Emerging Markets Total Income Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by a written instrument signed by a majority of the Trustees; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The Trustees, who are signatories to this Declaration of the date hereof and such other persons as the Trustee or Trustees then in office shall appoint (to fill a vacancy or otherwise) prior to any sale of Shares pursuant to a public offering, shall each serve until the first meeting of Shareholders at which Trustees are elected (or, if later, until the first meeting of Shareholders at which Trustees of the Class to which such Trustee has been assigned are elected) and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen fifteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "annual meeting") shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "second annual meeting"); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Fund) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IVArticle, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 1 contract
Samples: Agreement and Declaration of Trust (Pimco High Income Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by the Trusteesvote of a majority of the Trustees then in office; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall appoint (to fill a vacancy or otherwise) prior to any sale of Shares pursuant to a public offering, shall each serve until the first meeting of Shareholders at which Trustees of the class to which the Trustee has been classified are elected (or, if later, until the first meeting of Shareholders at which Trustees of the Class to which such Trustee has been assigned are elected), or until the effective date of the first such election of Trustees pursuant to a written consent of Shareholders in lieu of a meeting, if sooner and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "“annual meeting"”) shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each each, a "“Class"”): Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "“second annual meeting"”); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, retires or is disqualified or removed from office. The Trustees shall assign and/or reassign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Fund) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IV, Trustees shall be elected only at an annual meeting of Shareholders.. In the event of a Contested Election, if one or more nominees are elected who were not Trustees prior to such Contested Election (“Non-Incumbents”), then the Non-Incumbents shall first be deemed to have been elected to fill any vacancies and then, if all vacancies have been filled, to succeed those Trustees who served as Trustees prior to such Contested Election and stood for reelection at such Contested Election and received the fewest affirmative votes, the designation of the specific Non-Incumbents to fill such vacancies and to succeed such Trustees to be made by a majority of the Continuing Trustees by resolution following such Contested Election. If, at any annual meeting (the “Current Annual Meeting”), Shareholders will consider
Appears in 1 contract
Samples: Agreement and Declaration of Trust (DoubleLine Shiller CAPE Enhanced Income Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by a written instrument signed by a majority of the Trustees; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The Trustees who are signatories to this Declaration of the date hereof, and such other persons as the Trustee or Trustees then in office shall appoint (to fill a vacancy or otherwise) prior to any sale of Shares pursuant to a public offering, shall each serve until the first meeting of Shareholders at which Trustees are elected (or, if later, until the first meeting of Shareholders at which Trustees of the Class to which such Trustee has been assigned are elected) and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen fifteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "annual meeting") shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "second annual meeting"); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Fund) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IVArticle, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 1 contract
Samples: Agreement and Declaration of Trust (Pimco Floating Rate Income Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of --------- Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by a written instrument signed by a majority of the Trustees; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The initial Trustees, each of whom shall serve until the first meeting of Shareholders at which Trustees are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, shall be Xxxxxxxxxxx X. Xxxxxx and such other persons as the Trustee or Trustees then in office shall, prior to any sale of Shares pursuant to a public offering, elect. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen fifteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "annual meeting") shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classified, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "second annual meeting"); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class class that shall be elected by Shareholders of a particular class or series of SharesShares (e.g., by a class of preferred Shares issued by the Fund). If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IVArticle, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 1 contract
Samples: Pimco Corporate Income Fund (Pimco Corporate Income Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by the Trusteesvote of a majority of the Trustees then in office; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The initial Trustees, each of whom shall serve until the first meeting of Shareholders at which Trustees are elected (or, if later, until the first meeting of Shareholders at which Trustees of the Class to which such Trustee has been assigned are elected) and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, shall be Xxxxxx X. Xxxxxxx and such other persons as the Trustee or Trustees then in office shall, prior to any sale of Shares pursuant to a public offering, elect, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen twenty-four months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "“annual meeting"”) shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "“second annual meeting"”); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Fund) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IV, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 1 contract
Samples: Agreement and Declaration of Trust (AllianzGI Income & Growth Opportunities Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of --------- Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by a written instrument signed by a majority of the Trustees; provided, however, that the number of Trustees shall in no -------- ------- event be less than three (3) from and after the date when Shares are first sold pursuant to a registered public offering. Xxxxxxx X. Xxxx and such other persons as the Trustee or Trustees then in office shall, prior to any sale of Shares pursuant to a registered public offering, elect, shall serve until the first meeting of Shareholders at which Trustees are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires or is disqualified or removed from office, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen fifteen months after Shares are first sold pursuant to a registered public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "annual meeting") shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a registered public offering, the Trustees shall be classified, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "second annual meeting"); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class class that shall be elected by Shareholders of a particular class or series of SharesShares (e.g., by a class of preferred Shares issued by the Fund). If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible, with the result that, to the extent a Trustee is assigned to a new Class, his or her term as Trustee shall coincide with that of his or her newly assigned Class. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IVArticle, after the initial registered public offering of the Shares, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 1 contract
Samples: Agreement and Declaration (Western Asset Core Plus Bond Trust I)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by a written instrument signed by a majority of the Trustees; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The initial Trustees, each of whom shall serve until the first meeting of Shareholders at which Trustees are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, shall be Xxxxx X. Xxxxxxxx and such other persons as the Trustee or Trustees then in office shall, prior to any sale of Shares pursuant to a public offering, elect, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen fifteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "“annual meeting"”) shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "“second annual meeting"”); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Fund) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IVArticle, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 1 contract
Samples: Agreement and Declaration of Trust (Nicholas-Applegate International & Premium Strategy Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of ---------- Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by a written instrument signed by a majority of the Trustees; provided, however, that the -------- ------- number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a an initial registered public offering. The Trustees on the date hereof and such other persons as the Trustee or Trustees then in office shall, prior to any sale of Shares pursuant to an initial registered public offering, elect, shall serve until the first meeting of Shareholders at which Trustees are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires or is disqualified or removed from office, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen fifteen months after Shares are first sold pursuant to a an initial registered public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "annual meeting") shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a an initial registered public offering, the Trustees shall be classified, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "second annual meeting"); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of SharesShares (e.g., by a class of preferred Shares issued by the Fund). If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible, with the result that, to the extent a Trustee is assigned to a new Class, his or her term as Trustee shall coincide with that of his or her newly assigned Class. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IVArticle, after the initial registered public offering of the Shares, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 1 contract
Samples: Agreement and Declaration (Western Asset Premier Bond Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by a written instrument signed by a majority of the Trustees; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The Trustees who are signatories to this Declaration of the date hereof, and such other persons as the Trustee or Trustees then in office shall appoint (to fill a vacancy or otherwise) prior to any sale of Shares pursuant to a public offering, shall each serve until the first meeting of Shareholders at which Trustees are elected (or, if later, until the first meeting of Shareholders at which Trustees of the Class to which such Trustee has been assigned are elected) and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen fifteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "“annual meeting"”) shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "“second annual meeting"”); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Fund) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IVArticle, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 1 contract
Samples: Agreement and Declaration of Trust (PIMCO Floating Rate Strategy Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by a written instrument signed by a majority of the Trustees; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The initial Trustees, each of whom shall serve until the first meeting of Shareholders at which Trustees are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, shall be Xxxxxxxxx Xxxxxxxxx and such other persons as the Trustee or Trustees then in office shall, prior to any sale of Shares pursuant to a public offering, elect, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen fifteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "“annual meeting"”) shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "“second annual meeting"”); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Fund) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IV, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 1 contract
Samples: Agreement and Declaration of Trust (PIMCO Dynamic Income Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by a written instrument signed by a majority of the Trustees; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The initial Trustees, each of whom shall serve until the first meeting of Shareholders at which Trustees are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, shall be Patrick J. Murphy and such other persons as the Trustee or Trustees thex xx xxxxxx xxxxx, prior to any sale of Shares pursuant to a public offering, elect, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen fifteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "annual meeting") shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "second annual meeting"); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Fund) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IVArticle, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 1 contract
Samples: Agreement and Declaration of Trust (Pafm Nicholas Applegate NFJ Convertible & Income Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by a written instrument signed by a majority of the Trustees; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The initial Trustees, each of whom shall serve until the first meeting of Shareholders at which Trustees are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, shall be Brae X. Xxxxxxxx and such other persons as the Trustee or Trustees then in office shall, prior to any sale of Shares pursuant to a public offering, elect, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen fifteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "“annual meeting"”) shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "“second annual meeting"”); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Fund) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IVArticle, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 1 contract
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by the Trusteesvote of a majority of the Trustees then in office; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall appoint (to fill a vacancy or otherwise) prior to any sale of Shares pursuant to a public offering, shall each serve until the first meeting of Shareholders at which Trustees of the class to which the Trustee has been classified are elected (or, if later, until the first meeting of Shareholders at which Trustees of the Class to which such Trustee has been assigned are elected), or until the effective date of the first such election of Trustees pursuant to a written consent of Shareholders in lieu of a meeting, if sooner and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "“annual meeting"”) shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each each, a "“Class"”): Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "“second annual meeting"”); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, retires or is disqualified or removed from office. The Trustees shall assign and/or reassign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Fund) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IV, Trustees shall be elected only at an annual meeting of Shareholders.. In the event of a Contested Election, if one or more nominees are elected who were not Trustees prior to such Contested Election (“Non-Incumbents”), then the Non-Incumbents shall
Appears in 1 contract
Samples: Agreement and Declaration of Trust (DoubleLine Shiller CAPE Enhanced Income Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by a written instrument signed by a majority of the Trustees; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The initial Trustees, each of whom shall serve until the first meeting of Shareholders at which Trustees are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, shall be Jason P. Pogorelec and such other persons as the Trustee or Trustees thxx xx xxxxxx xxxxx, prior to any sale of Shares pursuant to a public offering, elect, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen fifteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "annual meeting") shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "second annual meeting"); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Fund) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IVArticle, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 1 contract
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by the Trustees; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "“annual meeting"”) shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classified, with respect to the time for which they severally hold office, into the following three classes (each a "“Class"”): Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "“second annual meeting"”); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist of at least one Trustee. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution Trustees to each of the three Classes. The Trustees also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution of the Trustees. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 of this Article IV, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 1 contract
Samples: Agreement and Declaration of Trust (Overstreet Adrian Marcel)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by the Trusteesvote of a majority of the Trustees then in office; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The Trustee or Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall appoint (to fill a vacancy or otherwise) prior to any sale of Shares pursuant to a public offering, shall each serve until the first meeting of Shareholders at which Trustees are elected (or, if later, until the first meeting of Shareholders at which Trustees of the Class to which such Trustee has been assigned are elected) and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen twenty four months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "“annual meeting"”) shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "“second annual meeting"”); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, retires or is disqualified or removed from office. The Trustees shall assign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Trust) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IV, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 1 contract
Samples: Agreement and Declaration of Trust (Providence Flexible Credit Allocation Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by a written instrument signed by a majority of the Trustees; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The initial Trustees, each of whom shall serve until the first meeting of Shareholders at which Trustees are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, shall be Xxxxxxx Xxxxxxxx and such other persons as the Trustee or Trustees then in office shall, prior to any sale of Shares pursuant to a public offering, elect, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen twenty-four months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "“annual meeting"”) shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "“second annual meeting"”); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Fund) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IV, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 1 contract
Samples: Agreement and Declaration of Trust (PIMCO Dynamic Credit Income Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by a written instrument signed by a majority of the Trustees; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The initial Trustees, each of whom shall serve until the first meeting of Shareholders at which Trustees are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, shall be Xxxxx Xxxx and such other persons as the Trustee or Trustees then in office shall, prior to any sale of Shares pursuant to a public offering, elect, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen fifteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "“annual meeting"”) shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "“second annual meeting"”); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Fund) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IV, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 1 contract
Samples: Agreement and Declaration of Trust (Stone Harbor Emerging Markets Fixed Income Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by the Trusteesvote of a majority of the Trustees then in office; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The initial Trustee, who shall serve until the first meeting of Shareholders at which Trustees are elected (or, if later, until the first meeting of Shareholders at which Trustees of the Class to which such Trustee has been assigned are elected) and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, shall be Xxxxxx Xxxxxxx and such other persons as the Trustee or Trustees then in office shall, prior to any sale of Shares pursuant to a public offering, elect, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen twenty-four months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "“annual meeting"”) shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each each, a "“Class"”): Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "“second annual meeting"”); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Trust) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IV, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 1 contract
Samples: Agreement and Declaration of Trust (AllianzGI Artificial Intelligence Opportunities Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by the Trusteesvote of a majority of the Trustees then in office; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The initial Trustees, each of whom shall serve until the first meeting of Shareholders at which Trustees of the class to which the Trustee has been classified are elected (or until the effective date of the first such election of Trustees pursuant to a written consent of Shareholders in lieu of a meeting, if sooner) and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, shall be Xxxxxx X. Xxxxxxx and such other persons, if any, as the Trustee or Trustees then in office shall, prior to any sale of Shares pursuant to a public offering, elect, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen twenty-four months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "“annual meeting"”) shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each each, a "“Class"”): Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "“second annual meeting"”); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, retires or is disqualified or removed from office. The Trustees shall assign and/or reassign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Fund) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IV, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 1 contract
Samples: Agreement and Declaration of Trust (DoubleLine Yield Opportunities Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series ---------- of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by a written instrument signed by a majority of the Trustees; provided, however, that the number of Trustees shall -------- ------- in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The Trustees who are signatories to this Declaration on the date hereof and such other persons as the Trustee or Trustees then in office shall, prior to any sale of Shares pursuant to a public offering, elect, shall serve until the first meeting of Shareholders at which Trustees are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen fifteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "annual meeting") shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classified, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "second annual meeting"); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class class that shall be elected by Shareholders of a particular class or series of SharesShares (e.g., by a class of preferred Shares issued by the Fund). If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IVArticle, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 1 contract
Samples: Agreement and Declaration (Pimco Corporate Income Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of --------- Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by a written instrument signed by a majority of the Trustees; provided, however, that the -------- ------- number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a an initial registered public offering. The Trustees on the date hereof and such other persons as the Trustee or Trustees then in office shall, prior to any sale of Shares pursuant to an initial registered public offering, elect, shall serve until the first meeting of Shareholders at which Trustees are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires or is disqualified or removed from office, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen fifteen months after Shares are first sold pursuant to a an initial registered public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "annual meeting") shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a an initial registered public offering, the Trustees shall be classified, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "second annual meeting"); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of SharesShares (e.g., by a class of preferred Shares issued by the Fund). If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible, with the result that, to the extent a Trustee is assigned to a new Class, his or her term as Trustee shall coincide with that of his or her newly assigned Class. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IVArticle, after the initial registered public offering of the Shares, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 1 contract
Samples: Agreement and Declaration (Western Asset Premier Bond Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by the Trusteesvote of a majority of the Trustees then in office; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The initial Trustees, each of whom shall serve until the first meeting of Shareholders at which Trustees are elected (or until the effective date of the first election of Trustees pursuant to a written consent of Shareholders in lieu of a meeting, if sooner) and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, shall be Xxxxxx X. Xxxxx and such other persons as the Trustee or Trustees then in office shall, prior to any sale of Shares pursuant to a public offering, elect, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen fifteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "“annual meeting"”) shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "“second annual meeting"”); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, retires or is disqualified or removed from office. The Trustees shall assign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Fund) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IV, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 1 contract
Samples: Agreement and Declaration of Trust (DoubleLine Opportunistic Credit Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by a written instrument signed by a majority of the Trustees; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The initial Trustees, each of whom shall serve until the first meeting of Shareholders at which Trustees are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, shall be Xxxxx X. Xxxxxxx and such other persons as the Trustee or Trustees then in office shall, prior to any sale of Shares pursuant to a public offering, elect, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen fifteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "“annual meeting"”) shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "“second annual meeting"”); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Fund) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IVArticle, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 1 contract
Samples: Agreement and Declaration of Trust (PIMCO High Yield Municipal Income Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by the Trusteesvote of a majority of the Trustees then in office; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall appoint (to fill a vacancy or otherwise) prior to any sale of Shares pursuant to a public offering, shall, each serve until the first meeting of Shareholders at which Trustees are elected (or, if later, until the first meeting of Shareholders at which Trustees of the Class to which such Trustee has been assigned are elected) and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen twenty-four months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "AMENDED AND RESTATED DECLARATION OF TRUST “annual meeting"”) shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "“second annual meeting"”); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Fund) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IV, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 1 contract
Samples: Agreement and Declaration of Trust (PIMCO Dynamic Credit Income Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by a written instrument signed by a majority of the Trustees; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a an initial registered public offering. The initial Trustee, who shall serve until the first meeting of Shareholders at which Trustees are elected and until his successor is elected and qualified, or until he sooner dies, retires, resigns or is disqualified or removed from office, shall be Xxxx Xxxxxxxxx and such other persons as the Trustee or Trustees then in office shall, prior to any sale of Shares pursuant to an initial registered public offering, elect, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen sixteen months after Shares are first sold pursuant to a an initial registered public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "annual meeting") shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a an initial registered public offering, the Trustees shall be classifiedby resolution classify themselves, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "second annual meeting"); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Trust) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible, with the result that, to the extent a Trustee is assigned to a new Class, his or her term as Trustee shall coincide with that of his or her newly assigned Class. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IVArticle, after the initial registered public offering of the Shares, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 1 contract
Samples: Agreement and Declaration of Trust (Aew Real Estate Income Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by a written instrument signed by a majority of the Trustees; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The Trustees who are signatories to this Declaration of the date hereof, and such other persons as the Trustee or Trustees then in office shall appoint (to fill a vacancy or otherwise) prior to any sale of Shares pursuant to a public offering, shall each serve until the first meeting of Shareholders at which Trustees are elected (or, if later, until the first meeting of Shareholders at which Trustees of the Class to which such Trustee has been assigned are elected) and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen fifteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "“annual meeting"”) shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "“second annual meeting"”); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Fund) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IVArticle, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 1 contract
Samples: Agreement and Declaration of Trust (Nicholas-Applegate International & Premium Strategy Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by a written instrument signed by a majority of the Trustees; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The initial Trustees, each of whom shall serve until the first meeting of Shareholders at which Trustees are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, shall be Xxxxx X. Xxxxxx and such other persons as the Trustee or Trustees then in office shall, prior to any sale of Shares pursuant to a public offering, elect, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen fifteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "annual meeting") shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "second annual meeting"); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Fund) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IVArticle, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 1 contract
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by a written instrument signed by a majority of the Trustees; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The initial Trustees, each of whom shall serve until the first meeting of Shareholders at which Trustees are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, shall be Christopher M. Bruner and such other persons as the Trustee or Trustees xxxx xx xxxxxx xxxxx, prior to any sale of Shares pursuant to a public offering, elect, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen fifteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "annual meeting") shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "second annual meeting"); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Fund) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IVArticle, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 1 contract
Samples: Agreement and Declaration of Trust (Pimco Municipal Income Fund Iii)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by a written instrument signed by a majority of the Trustees; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The initial Trustees, each of whom shall serve until the first meeting of Shareholders at which Trustees are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, shall be Jeremy C. Smith and such other persons as the Trustee or Trustees then xx xxxxxx xxxxx, prior to any sale of Shares pursuant to a public offering, elect, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen fifteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "annual meeting") shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "second annual meeting"); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (E.G., by a class of preferred Shares issued by the Fund) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IVArticle, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 1 contract
Samples: Agreement and Declaration of Trust (Analytic Covered Call Plus Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. Section 1 Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by a majority of the Trustees; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a an initial registered public offering. The Trustee or Trustees who are signatories to this Declaration as of the date hereof and such other persons as the Trustee or Trustees then in office shall appoint (to fill a vacancy or otherwise) prior to any sale of Shares pursuant to an initial registered public offering shall each serve until the first meeting of Shareholders at which Trustees are elected (or, if later, until the first meeting of Shareholders at which Trustees of the Class to which such Trustee has been assigned are elected) and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires or is disqualified or removed from office, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen fifteen months after Shares are first sold pursuant to a an initial registered public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "“annual meeting"”) shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a an initial registered public offering, the Trustees shall be classifiedclassify themselves by resolution, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "“second annual meeting"”); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Trust) prior to the initial registered public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible, with the result that, to the extent a Trustee is assigned to a new Class, his or her term as Trustee shall coincide with that of his or her newly assigned Class. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IVArticle, after the initial registered public offering of the Shares, Trustees shall be elected only at an annual meeting of Shareholders.
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Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by the Trusteesvote of a majority of the Trustees then in office; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The initial Trustees, each of whom shall serve until the first meeting of Shareholders at which Trustees are elected (or until the effective date of the first election of Trustees pursuant to a written consent of Shareholders in lieu of a meeting, if sooner) and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, shall be Xxxxxxxxx Xxxxx and such other persons as the Trustee or Trustees then in office shall, prior to any sale of Shares pursuant to a public offering, elect, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen fifteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "“annual meeting"”) shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "“second annual meeting"”); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trustee. At each annual meeting beginning with the initial annual meeting, the successors one-third of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution Trustees to each of the three Classes. The Trustees also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares. If the total number of Trustees is changed, any increase or decrease shall be apportioned among constituting the Classes by resolution of the Trustees. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 of this Article IV, Trustees shall be elected only at an annual meeting of Shareholders.entire
Appears in 1 contract
Samples: Agreement and Declaration of Trust (Stone Harbor Emerging Markets Total Income Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by the Trustees; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "“annual meeting"”) shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classified, with respect to the time for which they severally hold office, into the following three classes (each a "“Class"”): Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting; Class II, whose term expires at the second succeeding annual meeting (after the "second initial annual meeting"); and Class III, whose term expires at the next succeeding annual meeting after the second initial annual meeting. Each Class shall consist of at least one Trustee. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution Trustees to each of the three Classes. The Trustees also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution of the Trustees. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 of this Article IV, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 1 contract
Samples: Agreement and Declaration of Trust (RMR Asia Real Estate Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSECTION 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by a majority of the Trustees; providedPROVIDED, howeverHOWEVER, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a an initial registered public offering. The Trustee or Trustees who are signatories to this Declaration as of the date hereof and such other persons as the Trustee or Trustees then in office shall appoint (to fill a vacancy or otherwise) prior to any sale of Shares pursuant to an initial registered public offering shall each serve until the first meeting of Shareholders at which Trustees are elected (or, if later, until the first meeting of Shareholders at which Trustees of the Class to which such Trustee has been assigned are elected) and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires or is disqualified or removed from office, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen fifteen months after Shares are first sold pursuant to a an initial registered public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "annual meeting") shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a an initial registered public offering, the Trustees shall be classifiedclassify themselves by resolution, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "second annual meeting"); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (E.G., by a class of preferred Shares issued by the Trust) prior to the initial registered public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible, with the result that, to the extent a Trustee is assigned to a new Class, his or her term as Trustee shall coincide with that of his or her newly assigned Class. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IVArticle, after the initial registered public offering of the Shares, Trustees shall be elected only at an annual meeting of Shareholders. Notwithstanding anything herein to the contrary, a Trustee shall cease to be a Trustee only if his or her successor is elected and qualified, or he or she sooner dies, resigns, retires or is disqualified or removed from office.
Appears in 1 contract
Samples: Western Asset Claymore Us Treasury Inflation Pro Sec Fund 3
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by the Trusteesvote of a majority of the Trustees then in office; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The initial Trustees, each of whom shall serve until the first meeting of Shareholders at which Trustees are elected (or until the effective date of the first election of Trustees pursuant to a written consent of Shareholders in lieu of a meeting, if sooner) and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, shall be Sxxxx X. Xxxx and such other persons as the Trustee or Trustees then in office shall, prior to any sale of Shares pursuant to a public offering, elect, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen fifteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "“annual meeting"”) shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "“second annual meeting"”); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, retires or is disqualified or removed from office. The Trustees shall assign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Fund) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IV, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 1 contract
Samples: Agreement and Declaration of Trust (Stone Harbor Worldwide Corporate Income Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by a majority of the Trustees; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a an initial registered public offering. The Trustee or Trustees who are signatories to this Declaration as of the date hereof and such other persons as the Trustee or Trustees then in office shall appoint (to fill a vacancy or otherwise) prior to any sale of Shares pursuant to an initial registered public offering shall each serve until the first meeting of Shareholders at which Trustees are elected (or, if later, until the first meeting of Shareholders at which Trustees of the Class to which such Trustee has been assigned are elected) and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires or is disqualified or removed from office, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen sixteen months after Shares are first sold pursuant to a an initial registered public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "annual meeting") shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a an initial registered public offering, the Trustees shall be classifiedby resolution classify themselves, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "second annual meeting"); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Trust) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible, with the result that, to the extent a Trustee is assigned to a new Class, his or her term as Trustee shall coincide with that of his or her newly assigned Class. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IVArticle, after the initial registered public offering of the Shares, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 1 contract
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by a written instrument signed by a majority of the Trustees; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The initial Trustees, each of whom shall serve until the first meeting of Shareholders at which Trustees are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, shall be Scott M. Friedman and such other persons as the Trustee or Trustees thex xx xxxxxx xxxxx, prior to any sale of Shares pursuant to a public offering, elect, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen fifteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "annual meeting") shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "second annual meeting"); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Fund) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IVArticle, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 1 contract
Samples: Agreement and Declaration (Pimco Diversified Income Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by the Trusteesvote of a majority of the Trustees then in office; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The initial Trustees, each of whom shall serve until the first meeting of Shareholders at which Trustees are elected (or until the effective date of the first election of Trustees pursuant to a written consent of Shareholders in lieu of a meeting, if sooner) and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, shall be Xxxxxx Xxxxxxx and such other persons as the Trustee or Trustees then in office shall, prior to any sale of Shares pursuant to a public offering, elect, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen fifteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "“annual meeting"”) shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "“second annual meeting"”); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, retires or is disqualified or removed from office. The Trustees shall assign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Fund) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IV, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 1 contract
Samples: Agreement and Declaration of Trust (Ashmore Emerging Markets Income Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by a written instrument signed by a majority of the Trustees; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The initial Trustees, each of whom shall serve until the first meeting of Shareholders at which Trustees are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, shall be Patrick J. Murphy and such other persons as the Trustee or Trustees thxx xx xxxxxx xxxxl, prior to any sale of Shares pursuant to a public offering, elect, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen fifteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "annual meeting") shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "second annual meeting"); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Fund) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IVArticle, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 1 contract
Samples: Agreement and Declaration of Trust (Nicholas Applegate Convertible & Income Fund Ii)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by the Trusteesvote of a majority of the Trustees then in office; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall appoint (to fill a vacancy or otherwise) prior to any sale of Shares pursuant to a public offering, shall each serve until the first meeting of Shareholders at which Trustees are elected (or, if later, until the first meeting of Shareholders at which Trustees of the Class to which such Trustee has been assigned are elected), or until the effective date of the first election of Trustees pursuant to a written consent of Shareholders in lieu of a meeting, if sooner, and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen fifteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "“annual meeting"”) shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "“second annual meeting"”); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, retires or is disqualified or removed from office. The Trustees shall assign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Fund) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IV, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 1 contract
Samples: Agreement and Declaration of Trust (DoubleLine Opportunistic Credit Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by a written instrument signed by a majority of the Trustees; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The initial Trustees, each of whom shall serve until the first meeting of Shareholders at which Trustees are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, shall be Jeremy C. Smith and such other persons as the Trustee or Trustees then xx xxxxxx xxxxx, prior to any sale of Shares pursuant to a public offering, elect, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen fifteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "annual meeting") shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "second annual meeting"); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Fund) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IVArticle, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 1 contract
Samples: Agreement and Declaration of Trust (Pimco Floating Rate Income Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by the Trusteesvote of a majority of the Trustees then in office; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The Trustees, who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall appoint (to fill a vacancy or otherwise) prior to any sale of Shares pursuant to a public offering, shall each serve until the first meeting of Shareholders at which Trustees are elected (or, if later, until the first meeting of Shareholders at which Trustees of the Class to which such Trustee has been assigned are elected), or until the effective date of the first election of Trustees pursuant to a written consent of Shareholders in lieu of a meeting, if sooner, and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen fifteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "“annual meeting"”) shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "“second annual meeting"”); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, retires or is disqualified or removed from office. The Trustees shall assign and/or reassign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Fund) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IV, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 1 contract
Samples: Agreement and Declaration of Trust (DoubleLine Income Solutions Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by a written instrument signed by a majority of the Trustees; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The Trustees who are signatories to this Declaration of the date hereof, and such other persons as the Trustee or Trustees then in office shall appoint (to fill a vacancy or otherwise) prior to any sale of Shares pursuant to a public offering, shall each serve until the first meeting of Shareholders at which Trustees are elected (or, if later, until the first meeting of Shareholders at which Trustees of the Class to which such Trustee has been assigned are elected) and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen fifteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "annual meeting") shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "second annual meeting"); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Fund) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IVArticle, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 1 contract
Samples: Agreement and Declaration (NFJ Dividend, Interest & Premium Strategy Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by the Trusteesvote of a majority of the Trustees then in office; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The initial Trustees, each of whom shall serve until the first meeting of Shareholders at which Trustees are elected (or until the effective date of the first election of Trustees pursuant to a written consent of Shareholders in lieu of a meeting, if sooner) and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, shall be Xxxxxx X. Xxxxx and such other persons, if any, as the Trustee or Trustees then in office shall, prior to any sale of Shares pursuant to a public offering, elect, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen fifteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "“annual meeting"”) shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "“second annual meeting"”); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, retires or is disqualified or removed from office. The Trustees shall assign and/or reassign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Fund) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IV, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 1 contract
Samples: Agreement and Declaration of Trust (DoubleLine Income Solutions Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by the Trusteesvote of a majority of the Trustees then in office; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The initial Trustees, each of whom shall serve until the first meeting of Shareholders at which Trustees of the class to which the Trustee has been classified are elected (or until the effective date of the first such election of Trustees pursuant to a written consent of Shareholders in lieu of a meeting, if sooner) and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, shall be Xxxxx X. Xxxxxxxx and such other persons, if any, as the Trustee or Trustees then in office shall, prior to any sale of Shares pursuant to a public offering, elect, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "“annual meeting"”) shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each each, a "“Class"”): Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "“second annual meeting"”); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, retires or is disqualified or removed from office. The Trustees shall assign and/or reassign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Fund) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IV, Trustees shall be elected only at an annual meeting of Shareholders.. In the event of a Contested Election, if one or more nominees are elected who were not Trustees prior to such Contested Election (“Non-Incumbents”), then the Non-Incumbents shall first be deemed to have been elected to fill any vacancies and then, if all vacancies have been filled, to succeed those Trustees who served as Trustees prior to such Contested Election and stood for reelection at such Contested Election and received the fewest affirmative votes, the designation of the specific Non-Incumbents to fill such vacancies and to succeed such Trustees to be made by a majority of the Continuing Trustees by resolution following such Contested Election. If, at any annual meeting (the “Current Annual Meeting”), Shareholders will consider the election of a Trustee whose term is set to expire at the time of such Current Annual Meeting and upon the election and qualification of his or her successor (an “Expiring Trustee”), and the
Appears in 1 contract
Samples: Agreement and Declaration of Trust (DoubleLine Shiller CAPE Enhanced Income Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from officeSection 1. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by a written instrument signed by a majority of the Trustees; provided, ,however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offering. The initial Trustees, each of whom shall serve until the first meeting of Shareholders at which Trustees are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns or is removed, shall be Xxxxx X. Xxxxx and such other persons as the Trustee or Trustees then in office shall, prior to any sale of Shares pursuant to a public offering, elect, subject in each case to the Classes of Trustees and terms created pursuant to this Article IV. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen fifteen months after Shares are first sold pursuant to a public offering; subsequent annual meetings of Shareholders or special meetings in lieu thereof (each an "“annual meeting"”) shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the Trustees shall be classifiedclassify themselves, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): classes: Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "“second annual meeting"”); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist consist, as nearly as may be possible, of at least one Trusteeone-third of the total number of Trustees constituting the entire Board of Trustees. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution from their number Trustees to each of the three Classes. The Trustees may also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares (e.g., by a class of preferred Shares issued by the Fund) prior to the initial public offering of such class of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution Classes, as of the Trusteesannual meeting of Shareholders next succeeding any such change, so as to maintain a number of Trustees in each Class as nearly equal as possible. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 3 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 3 of this Article IVArticle, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 1 contract
Samples: Agreement and Declaration of Trust (PIMCO Global StocksPLUS & Income Fund)
Number and Classes of Trustees and Term of Office. The Trustees who are signatories to this Declaration on the date hereof, and such other persons as the Trustee or Trustees then in office shall (prior to any sale of Shares pursuant to a public offering) elect, shall serve until the first meeting of Shareholders at which Trustees of his or her Class (as defined below) are elected and until his or her successor is elected and qualified, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the number of Trustees shall be such number as shall be fixed from time to time by the Trustees; provided, however, that the number of Trustees shall in no event be less than three (3) from and after the date when Shares are first sold pursuant to a public offeringthree. An initial annual meeting of Shareholders or special meeting in lieu thereof shall be called to be held not more than eighteen months after Shares are first sold pursuant to a public offering; subsequent annual Annual meetings of Shareholders or special meetings in lieu thereof (each an "annual meeting") shall be held as specified in the Bylaws. Prior to any sale of Shares pursuant to a public offering, the The Trustees shall be classified, with respect to the time for which they severally hold office, into the following three classes (each a "Class"): Class I, whose term expires at the initial annual meeting; Class II, whose term expires at the next succeeding annual meeting after the initial annual meeting (the "second annual meeting"); and Class III, whose term expires at the next succeeding annual meeting after the second annual meeting. Each Class shall consist of at least one Trustee. At each annual meeting beginning with the initial annual meeting, the successors of the Class of Trustees whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting held in the third year following the year of their election, with each Trustee holding office until the expiration of the term of the relevant Class and the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is disqualified or removed from office. The Trustees shall assign by resolution Trustees to each of the three Classes. The Trustees also may determine by resolution those Trustees in each Class that shall be elected by Shareholders of a particular class or series of Shares. If the number of Trustees is changed, any increase or decrease shall be apportioned among the Classes by resolution of the Trustees. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his or her term unless the Trustee is specifically removed pursuant to Section 2 of this Article IV at the time of the decrease. Except as provided in this Section 1 or Section 2 of this Article IV, Trustees shall be elected only at an annual meeting of Shareholders.
Appears in 1 contract
Samples: Agreement and Declaration of Trust (RMR Real Estate Income Fund)
