Common use of Prompt Enforcement; Further Actions Clause in Contracts

Prompt Enforcement; Further Actions. After obtaining actual knowledge of an Acquisition of Excess Shares by a Restricted Holder, the Trust may demand the surrender, or cause to be surrendered, to it, the Excess Shares, or any proceeds received upon a sale of the Excess Shares, and any dividends or other distributions made with respect to the Excess Shares. If such surrender is not made within 30 business days from the date of such demand, the Trust may institute legal proceedings to compel such transfer; provided, however, that nothing in this Subsection (g) shall: (i) be deemed inconsistent with the Acquisition of the Excess Shares being deemed null and void pursuant to subsection (d) hereof; (ii) preclude the Trust in its discretion from immediately bringing legal proceedings without a prior demand; or (iii) cause any failure of the Trust to act within the time periods set forth in Article II, Section 12, subsection (c) to constitute a waiver or loss of any right of the Trust under this Article II, Section 12.

Appears in 5 contracts

Samples: And Restated Agreement and Declaration of Trust (Bexil Investment Trust), Agreement and Declaration of Trust (Dividend & Income Fund), Agreement and Declaration of Trust (Dividend & Income Fund)

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Prompt Enforcement; Further Actions. After obtaining actual knowledge of an Acquisition of Excess Shares by a Restricted Holder, the Trust may demand the surrender, or cause to be surrendered, to it, the Excess Shares, or any proceeds received upon a sale of the Excess Shares, and any dividends or other distributions made with respect to the Excess Shares. If such surrender is not made within 30 business days from the date of such demand, the Trust may institute legal proceedings to compel such transfer; provided, however, that nothing in this Subsection (g) shall: (i) be deemed inconsistent with the Acquisition of the Excess Shares being deemed null and void pursuant to subsection (d) hereof; (ii) preclude the Trust in its discretion from immediately bringing legal proceedings without a prior demand; or (iii) cause any failure of the Trust to act within the time periods set forth in Article II, Section 12, this subsection (c) to constitute a waiver or loss of any right of the Trust under this Article II, Section 12.

Appears in 5 contracts

Samples: Agreement and Declaration of Trust (Dividend & Income Fund), Agreement and Declaration of Trust (Dividend & Income Fund), Agreement and Declaration of Trust (Dividend & Income Fund)

Prompt Enforcement; Further Actions. After obtaining actual knowledge of an Acquisition of Excess Shares Securities by a Restricted Holder, the Trust may shall demand the surrendersurrender of, or cause to be surrendered, to it, the Excess SharesSecurities, or any proceeds received upon a sale of the Excess SharesSecurities, and any dividends or other distributions made with respect to the Excess SharesSecurities. If such surrender is not made within 30 business days from the date of such demand, the Trust may institute legal proceedings to compel such transfer; provided, however, that nothing in this Subsection (g) shall: (i) be deemed inconsistent with the Acquisition of the Excess Shares Securities being deemed null and void pursuant to subsection (d) hereof; (ii) preclude the Trust in its discretion from immediately bringing legal proceedings without a prior demand; or (iii) cause any failure of the Trust to act within the time periods set forth in Article II, Section 12, this subsection (cg) to constitute a waiver or loss of any right of the Trust under this Article IIV, Section 124.

Appears in 4 contracts

Samples: Agreement and Declaration of Trust (Cushing American Renaissance Fund), Agreement and Declaration of Trust (Cushing Renaissance Fund), Agreement and Declaration of Trust (Cushing Royalty & Income Fund)

Prompt Enforcement; Further Actions. After obtaining actual knowledge of an Acquisition of Excess Shares by a Restricted Holder, the Trust may shall demand the surrender, or cause to be surrendered, to it, the Excess Shares, or any proceeds received upon a sale of the Excess Shares, and any dividends or other distributions made with respect to the Excess Shares. If such surrender is not made within 30 business days from the date of such demand, the Trust may institute legal proceedings to compel such transfer; provided, however, that nothing in this Subsection (g) shall: (i) be deemed inconsistent with the Acquisition of the Excess Shares being deemed null and void pursuant to subsection (d) hereof; (ii) preclude the Trust in its discretion from immediately bringing legal proceedings without a prior demand; or (iii) cause any failure of the Trust to act within the time periods set forth in Article II, Section 12, this subsection (c) to constitute a waiver or loss of any right of the Trust under this Article II, Section 12.

Appears in 1 contract

Samples: Dividend and Income Fund (Dividend & Income Fund)

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Prompt Enforcement; Further Actions. After obtaining actual knowledge of an Acquisition of Excess Shares by a Restricted Holder, the Trust may shall demand the surrender, or cause to be surrendered, to it, the Excess Shares, or any proceeds received upon a sale of the Excess Shares, and any dividends or other distributions made with respect to the Excess Shares. If such surrender is not made within 30 business days from the date of such demand, the Trust may institute legal proceedings to compel such transfer; provided, however, that nothing in this Subsection (g) shall: (i) be deemed inconsistent with the Acquisition of the Excess Shares being deemed null and void pursuant to subsection (d) hereof; (ii) preclude the Trust in its discretion from immediately bringing legal proceedings without a prior demand; or (iii) cause any failure of the Trust to act within the time periods set forth in Article II, Section 12, this subsection (c) to constitute a waiver or loss of any right of the Trust under this Article IIIII, Section 1210.

Appears in 1 contract

Samples: Agreement and Declaration of Trust (DCA Total Return Fund)

Prompt Enforcement; Further Actions. After obtaining actual knowledge of an Acquisition of Excess Shares by a Restricted Holder, the Trust may shall demand the surrender, or cause to be surrendered, to it, the Excess Shares, or any proceeds received upon a sale of the Excess Shares, and any dividends or other distributions made with respect to the Excess Shares. If such surrender is not made within 30 business days from the date of such demand, the Trust may institute legal proceedings to compel such transfer; provided, however, that nothing in this Subsection (g) shall: (i) be deemed inconsistent with the Acquisition of the Excess Shares being deemed null and void pursuant to subsection (d) hereof; (ii) preclude the Trust in its discretion from immediately bringing legal proceedings without a prior demand; or (iii) cause any failure of the Trust to act within the time periods set forth in Article II, Section 12, this subsection (c) to constitute a waiver or loss of any right of the Trust under this Article II, Section 1210.

Appears in 1 contract

Samples: Agreement and Declaration of Trust (Dividend & Income Fund)

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