Common use of Number and Term of Office Clause in Contracts

Number and Term of Office. The Board of Trustees shall initially consist of the initial sole Trustee and his or her successor, which number may be increased or subsequently decreased by a resolution of a majority of the entire Board of Trustees, provided that the number of Trustees shall not be less than one nor more than twenty-three. Each Trustee (whenever selected) shall hold office until the next meeting of shareholders and until his successor is elected and qualified or until his earlier death, resignation, or removal. The initial Trustee shall be the person designated in the Declaration of Trust.

Number and Term of Office. The Board of Trustees shall initially consist of the initial sole Trustee Trustee, and his or her successor, which number may be increased or subsequently decreased by a resolution of a majority of the entire Board of Trustees, provided that the number of Trustees shall not be less than one nor more than twenty-threeone. Each Trustee (whenever selected) shall hold office until the next meeting of shareholders and until his successor is elected and qualified or until his earlier death, resignation, or removal. The initial Trustee shall be the person designated in the Declaration of Trust.