Common use of Payment of Expenses by Shareholders Clause in Contracts

Payment of Expenses by Shareholders. The Board of Trustees shall have the power, as frequently as it may determine, to cause any Shareholder to pay directly, in advance or arrears, for charges of the Trust's custodian or transfer, dividend disbursing, shareholder servicing or similar agent for services provided to such Shareholder, an amount fixed from time to time by the Board of Trustees, by setting off such amount due from such Shareholder from the amount of (i) declared but unpaid dividends or distributions owed such Shareholder, or (ii) proceeds from the redemption by the Trust of Shares from such Shareholder pursuant to Article VI hereof.

Appears in 13 contracts

Samples: Agreement and Declaration (MGI Funds), Agreement and Declaration of Trust (MGI Funds), Agreement and Declaration (Cheswold Lane Funds)

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Payment of Expenses by Shareholders. The Board of Trustees shall have the power, as frequently as it may determine, to cause any Shareholder to pay directly, in advance or arrears, for charges of the Trust's custodian or transfer, dividend disbursing, shareholder servicing or similar agent for services provided to such Shareholder, an amount fixed from time to time by the Board of Trustees, by setting off such amount due from such Shareholder from the amount of (i) declared but unpaid dividends or distributions owed such Shareholder, or (ii) proceeds from the redemption repurchase by the Trust of Shares from such Shareholder pursuant to Article VI hereof.

Appears in 8 contracts

Samples: Agreement and Declaration (Franklin Templeton Limited Duration Income Trust), Agreement and Declaration of Trust (Franklin Templeton Strategic Income Trust), Agreement and Declaration of Trust (Franklin Templeton High Yield Trust)

Payment of Expenses by Shareholders. The Board of Trustees shall have the power, as frequently as it may determine, to cause any Shareholder of the Trust, or any Shareholder of any particular Series thereof, to pay directly, in advance or arrears, for charges of the Trust's custodian or transfer, dividend disbursing, shareholder servicing or similar agent for services provided to such Shareholder, an amount fixed from time to time by the Board of Trustees, by setting off such amount due from such Shareholder from the amount of (i) declared but unpaid dividends or distributions owed such Shareholder, or (ii) proceeds from the redemption by the Trust of Shares from such Shareholder pursuant to Article VI hereof.

Appears in 5 contracts

Samples: Agreement and Declaration of Trust (Templeton Global Smaller Companies Fund Inc), Agreement and Declaration (Franklin Floating Rate Master Trust), Agreement and Declaration (Gartmore Variable Insurance Trust Iii)

Payment of Expenses by Shareholders. The Board of Trustees shall have the power, as frequently as it may determine, to cause any Shareholder of the Trust, or any Shareholder of any particular Series, to pay directly, in advance or arrears, for charges of the Trust's custodian or transfer, dividend disbursing, shareholder servicing or similar agent for services provided to such Shareholder, an amount fixed from time to time by the Board of Trustees, by setting off such amount due from such Shareholder from the amount of (i) declared but unpaid dividends or distributions owed such Shareholder, or (ii) proceeds from the redemption by the Trust of Shares from such Shareholder pursuant to Article VI hereof.

Appears in 1 contract

Samples: Agreement and Declaration (Templeton Developing Markets Trust)

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Payment of Expenses by Shareholders. The Board of Trustees shall have the power, as frequently as it may determine, to cause any Shareholder to pay directly, in advance or arrears, for charges of the Trust's ’s custodian or transfer, dividend disbursing, shareholder servicing or similar agent for services provided to such Shareholder, an amount fixed from time to time by the Board of Trustees, by setting off such amount due from such Shareholder from the amount of (i) declared but unpaid dividends or distributions owed such Shareholder, or (ii) proceeds from the redemption repurchase by the Trust of Shares from such Shareholder pursuant to Article VI hereof.

Appears in 1 contract

Samples: Agreement and Declaration (Franklin LTD Duration Income Trust)

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