Common use of Reorganization or Sale of Assets Clause in Contracts

Reorganization or Sale of Assets. The Board of Trustees, by vote of a majority of the Trustees, may cause the Trust to sell, convey, and transfer all or substantially all of the assets of the Trust (“sale of Trust assets”) to another trust, statutory or business trust, partnership, limited partnership, limited liability company, corporation, or other association organized under the laws of any state in exchange for cash, shares, or other securities with such sale, conveyance, and transfer either (i) being made subject to or with the assumption by the transferee of the liabilities associated with the Trust, the assets of which are so transferred, as applicable, or (ii) not being made subject to, or not with the assumption of, such liabilities. Any such sale, conveyance and transfer shall require approval by vote of the Board of Trustees and Shareholders as set for in Section 1 of this Article VIII. Following such sale of Trust assets, the Board of Trustees shall distribute such cash, shares, or other securities ratably among the Shareholders of the Trust (giving due effect to the differences among the various Classes). If all of the assets of the Trust have been so sold, conveyed, and transferred, the Trust shall be dissolved. In all respects not governed by the DSTA, the 1940 Act, or other applicable law, the Board of Trustees shall have the power to prescribe additional procedures necessary or appropriate to accomplish such sale, conveyance, and transfer, including the power to create one or more separate statutory or business trusts to which all or any part of the assets, liabilities, profits, or losses of the Trust may be transferred and to provide for the conversion of Shares into beneficial interests in such separate statutory or business trust or trusts.

Reorganization or Sale of Assets. The Board of Trustees, by vote of a majority of the Trustees, may cause the Trust to sell, convey, and transfer all or substantially all of the assets of the Trust (“"sale of Trust assets”") to another trust, statutory or business trust, partnership, limited partnership, limited liability company, corporation, or other association organized under the laws of any state in exchange for cash, shares, or other securities with such sale, conveyance, and transfer either (i) being made subject to or with the assumption by the transferee of the liabilities associated with the Trust, the assets of which are so transferred, as applicable, or (ii) not being made subject to, or not with the assumption of, such liabilities. Any such sale, conveyance and transfer shall require approval by vote of the Board of Trustees and Shareholders as set for in Section 1 of this Article VIII. Following such sale of Trust assets, the Board of Trustees shall distribute such cash, shares, or other securities ratably among the Shareholders of the Trust (giving due effect to the differences among the various Classes). If all of the assets of the Trust have been so sold, conveyed, and transferred, the Trust shall be dissolved. In all respects not governed by the DSTA, the 1940 Act, or other applicable law, the Board of Trustees shall have the power to prescribe additional procedures necessary or appropriate to accomplish such sale, conveyance, and transfer, including the power to create one or more separate statutory or business trusts to which all or any part of the assets, liabilities, profits, or losses of the Trust may be transferred and to provide for the conversion of Shares into beneficial interests in such separate statutory or business trust or trusts.