Common use of Reclassification of the Trust Clause in Contracts

Reclassification of the Trust. The Board of Trustees may cause the Trust to be converted from a “closed-end company” to an “open-end company” (as those terms are defined, respectively, in Sections 5(a)(2) and 5(a)(1) of the 1940 Act). Such reclassification of the Trust shall require approval by vote of a majority of the Trustees then in office followed by the favorable vote of the holders of not less than 75% of the Shares, unless such amendment has been approved by 80% of the Trustees, in which case approval by a Vote of a Majority of the Outstanding Voting Securities is required.

Reclassification of the Trust. The Board of Trustees may cause the Trust to be converted from a “"closed-end company” " to an “"open-end company” " (as those terms are defined, respectively, in Sections 5(a)(2) and 5(a)(1) of the 1940 Act). Such reclassification of the Trust shall require approval by vote of a majority of the Trustees then in office followed by the favorable vote of the holders of not less than 75% of the Shares, unless such amendment has been approved by 80% of the Trustees, in which case approval by a Vote vote of a Majority majority of the Outstanding Voting Securities outstanding voting securities is required.

Reclassification of the Trust. The Board of Trustees may cause the Trust to be converted from a “closed-end company” to an “open-end company” (as those terms are defined, respectively, in Sections 5(a)(2) and 5(a)(1) of the 1940 Act). Such reclassification of the Trust shall require approval by vote of a majority of the Trustees then in office followed by the favorable vote of the holders of not less than 75% of the Shares, unless such amendment has been approved by 80% of the Trustees, in which case approval by a Vote vote of a Majority majority of the Outstanding Voting Securities outstanding voting securities is required.

Reclassification of the Trust. The Board of Trustees may cause the Trust to be converted from a “"closed-end company” " to an “"open-end company” " (as those terms are defined, respectively, in Sections 5(a)(2) and 5(a)(1) of the 1940 Act). Such reclassification of the Trust shall require approval by vote of a majority of the Trustees then in office followed by the favorable vote of the holders of not less than 75% of the SharesShares of each affected class or series is required, unless such amendment has been approved by 80% of the Trustees, in which case approval by a Vote vote of a Majority majority of the Outstanding Voting Securities outstanding voting securities is required.

Reclassification of the Trust. The Board of Trustees may cause the Trust to be converted from a “closed-end company” to an “open-end company” (as those terms are defined, respectively, in Sections 5(a)(2) and 5(a)(1) of the 1940 Act). Such reclassification of the Trust shall require approval by vote of a majority of the Trustees then in office followed by the favorable vote of the holders of not less than 75% of the SharesShares of each affected class or series is required, unless such amendment has been approved by 80% of the Trustees, in which case approval by a Vote vote of a Majority majority of the Outstanding Voting Securities outstanding voting securities is required.