Common use of Quorum; Required Vote Clause in Contracts

Quorum; Required Vote. One third of the Outstanding Shares of each Series or Class, or one third of the Outstanding Shares of the Trust, entitled to vote in person or by proxy shall be a quorum for the transaction of business at a Shareholders meeting with respect to such Series or Class, or with respect to the entire Trust, respectively. Except when a larger vote is required by law, this Trust Instrument or the Bylaws, at any meeting at which a quorum is present, a majority of the total Shares voted in person or by proxy shall decide any matters to be voted upon with respect to the entire Trust and a plurality of such Shares shall elect a Trustee; provided, that if this Trust Instrument or applicable law permits or requires that Shares be voted on any matter by individual Series or Classes, then a majority of the Shares of that Series or Class (or, if required by law, a Majority Shareholder Vote of that Series) voted in person or by proxy on the matter shall decide that matter insofar as that Series or Class is concerned. Shareholders may act as to the Trust or any Series or Class by the written consent of a majority (or such greater amount as may be required by applicable law) of the Outstanding Shares of the Trust or of such Series or Class, as the case may be. Notwithstanding any other provision herein or in the Bylaws, any meeting of Shareholders, whether or not a quorum is present, may be adjourned from time to time by the vote of the majority of the total Shares represented at that meeting, either in person or by proxy. Any adjourned session of a meeting of Shareholders may be held within a reasonable time without further notice.

Quorum; Required Vote. One third of the Outstanding Shares of each Series or Class, or one third of the Outstanding Shares of the Trust, entitled to vote in person or by proxy shall be a quorum for the transaction of business at a Shareholders meeting with respect to such Series or Class, or with respect to the entire Trust, respectively. Except when a larger vote is required by law, this Declaration of Trust Instrument or the Bylaws, at any meeting at which a quorum is present, a majority of the total Shares voted in person or by proxy shall decide any matters to be voted upon with respect to the entire Trust and a plurality of such Shares shall elect a Trustee; provided, that if this Declaration of Trust Instrument or applicable law permits or requires that Shares be voted on any matter by individual Series or Classes, then a majority of the Shares of that Series or Class (or, if required by law, a Majority Shareholder Vote of that Series) voted in person or by proxy on the matter shall decide that matter insofar as that Series or Class is concerned. Shareholders may act as to the Trust or any Series or Class by the written consent of a majority (or such greater amount as may be required by applicable law) of the Outstanding Shares of the Trust or of such Series or Class, as the case may be. Notwithstanding any other provision herein or in the Bylaws, any meeting of Shareholders, whether or not a quorum is present, may be adjourned from time to time by the vote of the majority of the total Shares represented at that meeting, either in person or by proxy. Any adjourned session of a meeting of Shareholders may be held within a reasonable time without further notice.