Common use of Termination of Trust or Portfolio Clause in Contracts

Termination of Trust or Portfolio. Unless terminated as provided herein, the Trust shall continue without limitation of time. The Trust may be terminated at any time by the Trustees by written notice to the Shareholders, subject to Section 6.1 of this Trust Agreement. Any Portfolio or Class may be terminated at any time by the Trustees by written notice to the Shareholders of that Portfolio or Class, subject to Section 6.1 of this Trust Agreement. Upon termination of the Trust (or any Portfolio or Class, as the case may be), after paying or otherwise providing for all charges, taxes, expenses and liabilities held, severally, with respect to each Portfolio (or Class) (or the applicable Portfolio (or Class), as the case may be), whether due or accrued or anticipated as may be determined by the Trustees, the Trust shall, in accordance with such procedures as the Trustees consider appropriate, reduce the remaining assets held, severally, with respect to each Portfolio (or Class) (or the applicable Portfolio (or Class), as the case may be), to distribute in cash or shares or other securities, or any combination thereof, and distribute the proceeds held with respect to each Portfolio (or Class) (or the applicable Portfolio (or Class), as the case may be), to the Shareholders of that Portfolio (or Class), as a Portfolio (or Class), ratably according to the number of Shares of that Portfolio (or Class) held by the several Shareholders on the date of termination.