Common use of Termination of Advisory Agreement Clause in Contracts

Termination of Advisory Agreement. The Advisory Agreement shall provide that it is terminable (a) by the Trust upon sixty (60) days’ written notice to the Adviser: (i) upon the affirmative vote of holders of a majority of the outstanding voting securities of the Trust entitled to vote on the matter (as “majority” is defined in Section 2(a)(42) of the 1000 Xxx) or (ii) by the vote of the Independent Trustees; or (b) by the Adviser upon not less than one hundred twenty (120) days’ written notice to the Trust, in each case without cause or penalty. In the event of termination, the Adviser will cooperate with the Trust and the Board in making an orderly transition of the advisory function. In addition, if the Trust elects to continue its operations following termination of the Advisory Agreement by the Adviser, the Adviser shall pay all direct expenses incurred as a direct result of its withdrawal. Upon termination of the Advisory Agreement, the Trust shall pay the Adviser all amounts then accrued but unpaid to the Adviser. The method of payment must be fair and protect the solvency and liquidity of the Trust.

Termination of Advisory Agreement. The Advisory Agreement shall provide that it is terminable (a) by the Trust upon sixty (60) days’ written notice to the Adviser: (i) upon the affirmative vote of holders of a majority of the outstanding voting securities of the Trust entitled to vote on the matter (as “majority” is defined in Section 2(a)(42) of the 1000 0000 Xxx) or (ii) by the vote of the Independent Trustees; or (b) by the Adviser upon not less than one hundred twenty (120) days’ written notice to the Trust, in each case without cause or penalty. In the event of termination, the Adviser will cooperate with the Trust and the Board in making an orderly transition of the advisory function. In addition, if the Trust elects to continue its operations following termination of the Advisory Agreement by the Adviser, the Adviser shall pay all direct expenses incurred as a direct result of its withdrawal. Upon termination of the Advisory Agreement, the Trust shall pay the Adviser all amounts then accrued but unpaid to the Adviser. The method of payment must be fair and protect the solvency and liquidity of the Trust, consistent with Section II.E.3 of the Omnibus Guidelines.

Termination of Advisory Agreement. The Advisory Agreement shall provide that it is terminable (a) by the Trust upon sixty (60) days’ written notice to the Adviser: (i) upon the affirmative vote of holders of a majority of the outstanding voting securities of the Trust entitled to vote on the matter (as “majority” is defined in Section 2(a)(42) of the 1000 Xxx) or (ii) by the vote of the Independent Trustees; or (b) by the Adviser upon not less than one hundred twenty (120) days’ written notice to the Trust, in each case without cause or penalty. In the event of termination, the Adviser will cooperate with the Trust and the Board in making an orderly transition of the advisory function. In addition, if the Trust elects to continue its operations following termination of the Advisory Agreement by the Adviser, the Adviser shall pay all direct expenses incurred as a direct result of its withdrawal. Upon termination of the Advisory Agreement, the Trust shall pay the Adviser all amounts then accrued but unpaid to the Adviser. The method of payment must be fair and protect the solvency and liquidity of the Trust, consistent with Section II.E.3 of the Omnibus Guidelines.