Common use of Power to Effect Reorganization Clause in Contracts

Power to Effect Reorganization. If permitted by applicable law, the Commission, by vote or written approval of a majority of the Commissioners, may select, or direct the organization of, a corporation, association, trust or other Person with which the Commission may merge, or which shall take over the Fund Property and carry on the affairs of the Fund, and after receiving an affirmative vote of not less than a majority of the Participants entitled to vote at any meeting of the Participants, the notice for which includes a statement of such proposed action, the Commission may effect such merger or may sell, convey and transfer the Fund Property to any such corporation, association, trust or other Person in exchange for cash or shares or securities thereof, or beneficial interest therein with the assumption by such transferee of the liabilities of the Fund; and thereupon the Commission shall terminate the Fund and deliver such cash, shares, securities or beneficial interest ratably among the Participants of this Fund.

Power to Effect Reorganization. If permitted by applicable lawLaw, the CommissionTrustees, by vote or written approval of a majority of the CommissionersTrustees, may select, or direct the organization of, a corporation, association, trust or other Person with which the Commission Trust may merge, or which shall take over the Fund Trust Property and carry on the affairs of the FundTrust, and after receiving an affirmative vote of not less than a majority of the Participants entitled to vote at any meeting of the Participantsvote, the notice for which includes a statement of such proposed action, the Commission Trustees may effect such merger or may sell, convey and transfer the Fund Trust Property to any such corporation, association, trust or other Person in exchange for cash or shares or securities thereof, or beneficial interest therein with the assumption by such transferee of the liabilities of the FundTrust; and thereupon the Commission Trustees shall terminate the Fund Trust and deliver such cash, shares, securities or beneficial interest ratably among the Participants of this Fund.Trust in redemption of their Units..

Power to Effect Reorganization. If permitted by applicable lawLaw, the CommissionTrustees, by vote or written approval of a majority of the CommissionersTrustees, may select, or direct the organization of, a corporation, association, trust or other Person with which the Commission Fund may merge, or which shall take over the Fund Property and carry on the affairs of the Fund, and after receiving an affirmative vote of not less than a majority of the Participants entitled to vote at any meeting of the Participantsvote, the notice for which includes a statement of such proposed action, the Commission Trustees may effect such merger or may sell, convey and transfer the Fund Property to any such corporation, association, trust or other Person in exchange for cash or shares or securities thereof, or beneficial interest therein with the assumption by such transferee of the liabilities of the Fund; and thereupon the Commission Trustees shall terminate the Fund and deliver such cash, shares, securities or beneficial interest ratably among the Participants of this FundFund in redemption of their Shares.