Common use of Participation by Telephone Clause in Contracts

Participation by Telephone. One or more of the Trustees or of any committee of the Trustees may participate in a meeting thereof by means of a conference telephone or similar communications equipment allowing all persons participating in the meeting to hear each other at the same time. Action to approve an advisory agreement may not be taken by Trustees at a telephonic meeting unless otherwise permitted under the Investment Company Act of 1940, as amended ("1940 Act"). Participation by such means shall constitute presence in person at a meeting.

Participation by Telephone. One or more of the Trustees or of any committee of the Trustees may participate in a meeting thereof by means of a conference telephone or similar communications equipment allowing all persons participating in the meeting to hear each other at the same time. Action to approve an advisory agreement may not be taken by Trustees at a telephonic meeting unless otherwise permitted under the Investment Company Act of 1940, as amended ("1940 Act"). Participation by such means shall constitute presence in person at a meeting.

Participation by Telephone. One or more of the Trustees or of any committee of the Trustees may participate in a meeting thereof by means of a conference telephone or similar communications equipment allowing all persons participating in the meeting to hear each other at the same time. Action to approve an advisory agreement may not be taken by Trustees at a telephonic meeting unless otherwise permitted under the Investment Company Act of 1940, as amended ("1940 Act"). Participation by such means shall constitute presence in person at a meetingmeeting except as otherwise provided by the Investment Company Act of 1940 (the "1940 Act").

Participation by Telephone. One or more of the Trustees or of any committee of the Trustees may participate in a meeting thereof by means of a conference telephone or similar communications equipment allowing all persons participating in the meeting to hear each other at the same time. Action to approve an advisory agreement may not be taken by Trustees at a telephonic meeting unless otherwise permitted under the Investment Company Act of 1940, as amended ("1940 Act"). Participation by such means shall constitute presence in person at a meetingmeeting except as otherwise provided by the Investment Company Act of 1940, as amended.

Participation by Telephone. One or more of the Trustees or of any committee of the Trustees may participate in a meeting thereof by means of a conference telephone or similar communications equipment allowing all persons participating in the meeting to hear each other at the same time. Action to approve an advisory agreement may not be taken Unless prohibited by Trustees at a telephonic meeting unless otherwise permitted under the Investment Company Act of 19401940 or other applicable law, as amended ("1940 Act"). Participation participation by such means shall constitute presence in person at a the meeting.

Participation by Telephone. One or more of the Trustees or of any committee of the Trustees may participate in a meeting thereof by means of a conference telephone or similar communications equipment allowing all persons participating in the meeting to hear each other at the same time. Action to approve an advisory agreement may not be taken by Trustees at a telephonic meeting unless otherwise permitted under the Investment Company Act of 1940, as amended ("“1940 Act"”). Participation by such means shall constitute presence in person at a meeting.