Term of Existence. (a) Unless dissolved and terminated pursuant to the terms hereof, the Trust shall have perpetual existence. The Trust shall dissolve (i) upon the affirmative vote to dissolve the Trust by both a majority of the Trustees and the holders of at least two-thirds of the Shares or (ii) as required by operation of law. After dissolution, the Trustees shall proceed to wind up the affairs of the Trust and all of the powers of the Trustees under this Declaration shall continue until the affairs of the Trust shall have been wound up as contemplated by Section 3808(e) of the Delaware Statutory Trust Statute. The Trustees may, to the extent they deem appropriate, adopt a plan of liquidation at any time preceding the anticipated dissolution date, which plan of liquidation may set forth the terms and conditions for implementing the dissolution and liquidation of the Trust under this Article XI. Shareholders of the Trust shall not be entitled to vote on the adoption of any such plan or the dissolution and liquidation of the Trust under this Article XI except to the extent required by the 1940 Act. (b) After the winding up and liquidation of the Trust, including the distribution to the Shareholders of any assets of the Trust, a majority of the Trustees shall execute and lodge among the records of the Trust an instrument in writing setting forth the fact of such termination and shall execute and file a certificate of cancellation with the Secretary of State of the State of Delaware. Upon termination of the Trust, the Trustees shall thereupon be discharged from all further liabilities and duties hereunder, and the rights and interests of all Shareholders shall thereupon cease.
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Samples: Agreement and Declaration of Trust (Blackstone / GSO Floating Rate Enhanced Income Fund), Agreement and Declaration of Trust (Blackstone Real Estate Income Fund), Agreement and Declaration of Trust (Blackstone Real Estate Income Master Fund)
