Number and Qualification. As of the date hereof, the number of Trustees shall be eight and the initial Trustees shall be the signatories hereto. Thereafter, the number of Trustees shall be determined by a written instrument signed by a majority of the Trustees then in office, provided that the number of Trustees shall be no less than three or more than ten. 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 not be under legal disability at the time of nomination. Trustees need not own Shares and may succeed themselves in office.
Appears in 11 contracts
Samples: Agreement and Declaration of Trust (NYLI MacKay DefinedTerm Muni Opportunities Fund), Agreement and Declaration of Trust (MainStay MacKay DefinedTerm Municipal Opportunities Fund), Trust Agreement (MainStay MacKay DefinedTerm Municipal Opportunities Fund)
Number and Qualification. As of the date hereof, the number of Trustees shall be eight seven and the initial Trustees shall be the signatories hereto. Thereafter, the number of Trustees shall be determined by a written instrument signed by a majority of the Trustees then in office, provided that the number of Trustees shall be no less than three or more than ten. 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 not be under legal disability at the time of nomination. Trustees need not own Shares and may succeed themselves in office.
Appears in 2 contracts
Samples: Trust Agreement (MainStay CBRE Global Infrastructure Megatrends Term Fund), Trust Agreement (MainStay CBRE Global Infrastructure Megatrends Fund)
