Common use of Retirement Policy Clause in Contracts

Retirement Policy. Except for those individuals who (a) are Trustees as of the date that the Commission declares the Trust's initial Registration Statement on Form N-1A effective or (b) were members of the Board of Directors or Trustees of an investment company having an investment adviser or principal underwriter under common control with the Trust's investment adviser or principal underwriter immediately prior to such investment company's combination with the Trust by merger, acquisition of assets or similar transaction, and of which Trustees may continue to be nominated as Trustees and to serve as Trustees if elected or appointed in accordance with Section 3.1 (c) of this Article III, an individual who has reached the age of seventy-two (72) years may not be elected, re-elected or appointed to serve as a Trustee.

Retirement Policy. Except for those individuals who (a) are Trustees as of the date that the Commission declares the Trust's ’s initial Registration Statement on Form N-1A effective or (b) were members of the Board of Directors or Trustees of an investment company having an investment adviser or principal underwriter under common control with the Trust's ’s investment adviser or principal underwriter immediately prior to such investment company's ’s combination with the Trust by merger, acquisition of assets or similar transaction, and of which Trustees may continue to be nominated as Trustees and to serve as Trustees if elected or appointed in accordance with Section 3.1 (c) of this Article III, an individual who has reached the age of seventy-two five (7275) years may not be elected, re-elected elected, or appointed to serve as a Trustee.