Common use of Number and Qualification Clause in Contracts

Number and Qualification. Prior to a public offering of Shares, there may be a sole Trustee and thereafter the number of Trustees shall be such number, not less than three, as shall be set forth in a written instrument signed or adopted by a majority of the Trustees then in office. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his term. An individual nominated as a Trustee shall be at least 21 years of age and not older than such age as shall be set forth in a written instrument signed or adopted by not less than two-thirds of the Trustees then in office and shall not be under legal disability. Trustees need not own Shares and may succeed themselves in office.

Appears in 15 contracts

Samples: Agreement and Declaration of Fund (GDL Fund), Agreement and Declaration of Trust (Gabelli Global Healthcare & WellnessRx Trust), Agreement and Declaration of Trust (Gabelli Natural Resources, Gold & Income Trust)

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Number and Qualification. Prior to a public offering of Shares, there may be a sole Trustee and thereafter the number of Trustees shall be such number, not less than threethree or more than fifteen, as shall be set forth in a written instrument signed or adopted by a majority of the Trustees then in office. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his term. An individual nominated as a Trustee shall be at least 21 years of age and not older than such age as shall be set forth in a written instrument signed or adopted by not less than two-thirds of the Trustees then in office and shall not be under legal disability. Trustees need not own Shares and may succeed themselves in office.

Appears in 14 contracts

Samples: Agreement and Declaration of Trust (Principal Real Estate Income Fund), Trust Agreement (Reaves Global Utility & Energy Income Fund), Agreement and Declaration of Trust (Principal Real Estate Income Fund)

Number and Qualification. Prior to a public offering of Shares, there may be a sole Trustee and thereafter the number of Trustees shall be such number, not less than three, as shall be set forth in a written instrument signed or adopted by a majority of the Trustees then in office. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his term. An individual nominated as a Trustee shall be at least 21 years of age and not older than such age as shall be set forth in a written instrument signed or adopted by not less than two-thirds of the Trustees then in office and office, shall not be under legal disabilitydisability and shall meet any additional qualifications as may be provided for in the By-Laws. Trustees need not own Shares and may succeed themselves in office.

Appears in 8 contracts

Samples: Agreement and Declaration of Trust (Gabelli Go Anywhere Trust), Agreement and Declaration of Trust (Gabelli Global Small & Mid Cap Value Trust), Trust Agreement (Gabelli Healthcare & WellnessRx Trust)

Number and Qualification. Prior to a public any offering of Shares, there may be a sole Trustee and thereafter the number of Trustees shall be such number, not less than threethree or more than fifteen, as shall be set forth in a written instrument signed or adopted by a majority of the Trustees then in office. 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. An individual nominated as a Trustee shall be at least 21 years of age and not older than such age as shall may be set forth in a written instrument signed or adopted by not less than two-thirds a majority of the Trustees then in office and shall not be under legal disability. Trustees need not own Shares and may succeed themselves in office.

Appears in 7 contracts

Samples: Agreement and Declaration of Trust (Gabelli Utilities Fund), Agreement and Declaration of Trust (Gabelli Blue Chip Value Fund), Agreement and Declaration of Trust (Gamco Mathers Fund)

Number and Qualification. Prior to a public offering of Shares, there may be a sole Trustee and thereafter the number of Trustees shall be such number, not less than three, as shall be set forth in a written instrument signed or adopted by a majority of the Trustees then in office. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his term. An individual nominated as a Trustee shall be at least 21 years of age and not older than such age as shall be set forth in a written instrument signed or adopted by not less than two-two- thirds of the Trustees then in office and office, shall not be under legal disabilitydisability and shall meet any additional qualifications as may be provided for in the By-Laws. Trustees need not own Shares and may succeed themselves in office.

Appears in 3 contracts

Samples: Agreement and Declaration of Trust (Gabelli Healthcare & WellnessRx Trust), Agreement and Declaration of Trust (GDL Fund), Agreement and Declaration of Trust (Gabelli Global Utility & Income Trust)

Number and Qualification. Prior to a public offering of Shares, there may be a sole Trustee and thereafter the number of Trustees shall be such number, not less than three, as shall be set forth in a written instrument signed or adopted by a majority of the Trustees then in office. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his term. An individual nominated as a Trustee shall be at least 21 years of age and not older than such age as shall be set forth in a written instrument signed or adopted by not less than two-two- thirds of the Trustees then in office and shall not be under legal disability. Trustees need not own Shares and may succeed themselves in office.

Appears in 1 contract

Samples: Agreement and Declaration of Trust (Gabelli Global Utility & Income Trust)

Number and Qualification. Prior to a public offering of Shares, there may be a sole Trustee and thereafter the number of Trustees shall be such number, not less than threethree or more than fifteen, as shall be set forth in a written instrument signed or adopted by a majority of the Trustees then in office. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his term. An individual nominated as a Trustee shall be at least 21 years of age and not older than such age as shall be set forth in a written instrument signed or adopted by not less than two-thirds a majority of the Trustees then in office and shall not be under legal disability. Trustees need not own Shares and may succeed themselves in office.

Appears in 1 contract

Samples: Agreement and Declaration of Trust (Gabelli Utility Fund)

Number and Qualification. Prior to a public offering of Shares, there may be a sole Trustee and thereafter the number of Trustees shall be such number, not less than threethree or more than fifteen, as shall be set forth in a written instrument signed or adopted by a majority of the Trustees then in office. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his term. An individual nominated as a Trustee shall be at least 21 years of age and not older than such age as shall be set forth in a written instrument signed or adopted by not less than two-two- thirds of the Trustees then in office and shall not be under legal disability. Trustees need not own Shares and may succeed themselves in office.

Appears in 1 contract

Samples: Second Amended and Restated Agreement and Declaration of Trust (Gabelli Utility Trust)

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Number and Qualification. Prior to a public any offering of Shares, there may be a sole Trustee and thereafter the number of Trustees shall be such number, not less than threethree or more than seven, as shall be set forth in a written instrument signed or adopted by a majority of the Trustees then in office. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his such Trustee's term. An individual nominated as a Trustee shall be at least 21 years of age and not older than such age as shall may be set forth in a written instrument signed or adopted by not less than two-thirds a majority of the Trustees then in office and shall not be under legal disability. Trustees need not own Shares and may succeed themselves in office.

Appears in 1 contract

Samples: Agreement and Declaration of Trust (Dljdirect Mutual Funds)

Number and Qualification. Prior to a public any offering of Shares, there may be a sole Trustee and thereafter thereafter, the number of Trustees shall be such number, not less than threetwo or more than nine, as shall be set forth in a written instrument signed or adopted by a majority of the Trustees then in office. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his term. An individual nominated as a Trustee shall be at least 21 years of age and not older than such 80 years of age as shall be set forth in a written instrument signed or adopted by at the time of nomination and not less than two-thirds of the Trustees then in office and shall not be under legal disability. Trustees need not own own, Shares and may succeed themselves in office. The Trustees may elect from their number a Chairman who shall serve at the pleasure of the Trustees.

Appears in 1 contract

Samples: Agreement and Declaration of Trust (Blackrock Bond Allocation Target Shares)

Number and Qualification. Prior to a public offering of Shares, there may be a sole Trustee and thereafter the number of Trustees shall be such number, not less than threethree or more than fifteen, as shall be set forth in a written instrument signed or adopted by a majority of the Trustees then in office. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his term. An individual nominated as a Trustee shall be at least 21 years of age and not older than such age as shall be set forth in a written instrument signed or adopted by not less than two-two- thirds of the Trustees then in office and office, shall not be under legal disabilitydisability and shall meet any additional qualifications as may be provided for in the By-Laws. Trustees need not own Shares and may succeed themselves in office.

Appears in 1 contract

Samples: Third Amended and Restated Agreement and Declaration of Trust (Gabelli Utility Trust)

Number and Qualification. Prior to a public offering of Shares, there may be a sole Trustee and thereafter the number of Trustees shall be such number, not less than threethree or more than fifteen, as shall be set forth in a written instrument signed or adopted by a majority of the Trustees then in office. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his term. An individual nominated as a Trustee shall be at least 21 years of age and not older than such age as shall be set forth in a written instrument signed or adopted by not less than two-thirds of the Trustees then in office and office, shall not be under legal disabilitydisability and shall meet any additional qualifications as may be provided for in the By-Laws. Trustees need not own Shares and may succeed themselves in office.

Appears in 1 contract

Samples: Trust Agreement (Gabelli Utility Trust)

Number and Qualification. Prior to a public offering of Shares, there may be a sole Trustee and thereafter the number of Trustees shall be such number, not less than three, as shall be set forth in a written instrument signed or adopted by a majority of the Trustees then in office. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his term. An individual nominated as a Trustee shall be at least 21 years of age and not older than such age as shall be set forth in a written instrument signed or adopted by not less than two-thirds of the Trustees then in office and office, shall not be under legal disabilitydisability and shall meet any additional qualifications as may be provided for in the By- Laws. Trustees need not own Shares and may succeed themselves in office.

Appears in 1 contract

Samples: Agreement and Declaration of Trust (Gabelli Global Gold, Natural Resources & Income Trust)

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