Common use of Termination of Trust, Series or Class Clause in Contracts

Termination of Trust, Series or Class. (a) The Trust may be terminated at any time by a vote of a Majority of the Trustees and written notice to the Shareholders. Any Series of Shares may be dissolved at any time by vote of a Majority of the Trustees and written notice to the Shareholders of such Series. Any Class of any Series of Shares may be terminated at any time by vote of a Majority of the Trustees and written notice to the Shareholders of such Class. Any action to dissolve the Trust shall be deemed also to be an action to dissolve each Series and each Class thereof and any action to dissolve a Series shall be deemed also to be an action to terminate each Class thereof. (b) Upon the requisite action by the Trustees to dissolve the Trust or any one or more Series, after paying or otherwise providing for all charges, taxes, expenses and liabilities, whether due or accrued or anticipated, of the Trust or of the particular Series as may be determined by the Trustees, the Trust shall in accordance with such procedures as the Trustees consider appropriate reduce the remaining assets of the Trust or of the affected Series to distributable form in cash or Shares (if the Trust has not dissolved) Securities, other property or any combination thereof, and distribute the proceeds to the Shareholders of the Trust or Series involved in conformity with the provisions of Section 6.1(h) hereof. Thereupon, any affected Series shall terminate and the Trustees and the Trust shall be discharged of any and all further liabilities and duties relating thereto or arising therefrom, and the right, title and interest of all parties with respect to such Series shall be canceled and discharged. Upon the requisite action by the Trustees to terminate any Class of any Series of Shares, the Trustees may, to the extent they deem it appropriate, follow the procedures set forth in this Section 9.2(b) with respect to such Class that are specified in connection with the dissolution and winding up of the Trust or any Series of Shares. Alternatively, in connection with the termination of any Class of any Series of Shares, the Trustees may treat such termination as a redemption of the Shareholders of such Class effected pursuant to Section 6.1(k) of this Declaration of Trust provided that the costs relating to the termination of such Class shall be included in the determination of the Net Asset Value of the Shares of such Class for purposes of determining the redemption price to be paid to the Shareholders of such Class (to the extent not otherwise included in such determination). After termination of the Trust or any Series or Class and distribution to the Shareholders as herein provided, 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 cause a certificate of cancellation of the Trust’s Certificate of Trust to be filed in accordance with the Act, which certificate of cancellation may be signed by any one Trustee. Upon termination of the Trust, the Trustees, subject to Section 3808 of the Act, shall be discharged of any and all further liabilities and duties relating thereto or arising therefrom, and the right, title and interest of all parties with respect to the Trust shall be canceled and discharged.

Termination of Trust, Series or Class. (a) The Trust may be terminated at any time by a vote of a Majority of the Trustees and written notice to the Shareholders. Any Series of Shares may be dissolved at any time by vote of a Majority of the Trustees and written notice to the Shareholders of such Series. Any Class of any Series of Shares may be terminated at any time by vote of a Majority of the Trustees and written notice to the Shareholders of such Class. Any action to dissolve the Trust shall be deemed also to be an action to dissolve each Series and each Class thereof and any action to dissolve a Series shall be deemed also to be an action to terminate each Class thereof. (b) Upon the requisite action by the Trustees to dissolve the Trust or any one or more Series, after paying or otherwise providing for all charges, taxes, expenses and liabilities, whether due or accrued or anticipated, of the Trust or of the particular Series as may be determined by the Trustees, the Trust shall in accordance with such procedures as the Trustees consider appropriate reduce the remaining assets of the Trust or of the affected Series to distributable form in cash or Shares (if the Trust has not dissolved) ), Securities, other property or any combination thereof, and distribute the proceeds to the Shareholders of the Trust or Series involved in conformity with the provisions of Section 6.1(h) hereof. Thereupon, any affected Series shall terminate and the Trustees and the Trust shall be discharged of any and all further liabilities and duties relating thereto or arising therefrom, and the right, title and interest of all parties with respect to such Series shall be canceled and discharged. Upon the requisite action by the Trustees to terminate any Class of any Series of Shares, the Trustees may, to the extent they deem it appropriate, follow the procedures set forth in this Section 9.2(b) with respect to such Class that are specified in connection with the dissolution and winding up of the Trust or any Series of Shares. Alternatively, in connection with the termination of any Class of any Series of Shares, the Trustees may treat such termination as a redemption of the Shareholders of such Class effected pursuant to Section 6.1(k) of this Declaration of Trust provided that the costs relating to the termination of such Class shall be included in the determination of the Net Asset Value of the Shares of such Class for purposes of determining the redemption price to be paid to the Shareholders of such Class (to the extent not otherwise included in such determination). After termination of the Trust or any Series or Class and distribution to the Shareholders as herein provided, 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 upon termination of the Trust shall cause a certificate of cancellation of the Trust’s 's Certificate of Trust to be filed in accordance with the Act, which certificate of cancellation may be signed by any one Trustee. Upon termination of the Trust, the Trustees, subject to Section 3808 of the Act, shall be discharged of any and all further liabilities and duties relating thereto or arising therefrom, and the right, title and interest of all parties with respect to the Trust shall be canceled and discharged.

Termination of Trust, Series or Class. (a) The Trust may be terminated at any time by a vote of a Majority of the Trustees and written notice to the Shareholders. Any Series of Shares may be dissolved at any time by vote of a Majority of the Trustees and written notice to the Shareholders of such Series. Any Class of any Series of Shares may be terminated at any time by vote of a Majority of the Trustees and written notice to the Shareholders of such Class. Any action to dissolve the Trust shall be deemed also to be an action to dissolve each Series and each Class thereof and any action to dissolve a Series shall be deemed also to be an action to terminate each Class thereof. (b) Upon the requisite action by the Trustees to dissolve the Trust or any one or more Series, after paying or otherwise providing for all charges, taxes, expenses and liabilities, whether due or accrued or anticipated, of the Trust or of the particular Series as may be determined by the Trustees, the Trust shall in accordance with such procedures as the Trustees consider appropriate reduce the remaining assets of the Trust or of the affected Series to distributable form in cash or Shares (if the Trust has not dissolved) ), Securities, other property or any combination thereof, and distribute the proceeds to the Shareholders of the Trust or Series involved in conformity with the provisions of Section 6.1(h) hereof. Thereupon, any affected Series shall terminate and the Trustees and the Trust shall be discharged of any and all further liabilities and duties relating thereto or arising therefrom, and the right, title and interest of all parties with respect to such Series shall be canceled and discharged. Upon the requisite action by the Trustees to terminate any Class of any Series of Shares, the Trustees may, to the extent they deem it appropriate, follow the procedures set forth in this Section 9.2(b) with respect to such Class that are specified in connection with the dissolution and winding up of the Trust or any Series of Shares. Alternatively, in connection with the termination of any Class of any Series of Shares, the Trustees may treat such termination as a redemption of the Shareholders of such Class effected pursuant to Section 6.1(k) of this Declaration of Trust provided that the costs relating to the termination of such Class shall be included in the determination of the Net Asset Value of the Shares of such Class for purposes of determining the redemption price to be paid to the Shareholders of such Class (to the extent not otherwise included in such determination). After termination of the Trust or any Series or Class and distribution to the Shareholders as herein provided, 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 upon termination of the Trust shall cause a certificate of cancellation of the Trust’s Certificate of Trust to be filed in accordance with the Act, which certificate of cancellation may be signed by any one Trustee. Upon termination of the Trust, the Trustees, subject to Section 3808 of the Act, shall be discharged of any and all further liabilities and duties relating thereto or arising therefrom, and the right, title and interest of all parties with respect to the Trust shall be canceled and discharged.

Termination of Trust, Series or Class. (a) Unless terminated as provided herein, the Trust shall continue without limitation of time. The Trust may be terminated at any time by a vote of a Majority of the Trustees and written notice to the Shareholders. Any Series of Shares may be dissolved at any time by vote of a Majority of the Trustees and written notice to the Shareholders of such Series. Any Class of any Series of Shares may be terminated at any time by vote of a Majority majority of the Shares of each Series entitled to vote, voting separately by Series, or by the Trustees and by written notice to the Shareholders. Any Series or Class may be terminated at any time by vote of a majority of the Shares of that Series or Class entitled to vote, or by the Trustees by written notice to the Shareholders of such that Series or Class. Any action to dissolve the Trust shall be deemed also to be an action to dissolve each Series and each Class thereof and any action to dissolve a Series shall be deemed also to be an action to terminate each Class thereof. (b) Upon the requisite Shareholder vote or action by the Trustees to dissolve terminate the Trust or any one or more SeriesSeries of Shares or any Class thereof, after paying or otherwise providing for all charges, taxes, expenses and liabilities, whether due or accrued or anticipated, of the Trust or of the particular Series of any Class thereof as may be determined by the Trustees, the Trust shall shall, in accordance with such procedures as the Trustees consider appropriate appropriate, reduce the remaining assets of the Trust or of the affected Series or Class to distributable form in cash or Shares (if the Trust has not dissolvedany Series remain) Securitiesor other securities, other property or any combination thereof, and distribute the proceeds to the Shareholders of the Trust Series or Classes involved, ratably according to the number of Shares of such Series involved in conformity with or Class held by the provisions several Shareholders of Section 6.1(h) hereofsuch Series or Class on the date of distribution. Thereupon, the Trust or any affected Series or Class shall terminate and the Trustees and the Trust shall be discharged of any and all further liabilities and duties relating thereto or arising therefrom, and the right, title and interest of all parties with respect to the Trust or such Series or Class shall be canceled and discharged. . (c) Upon termination of the requisite action by the Trustees to terminate any Class Trust, following completion of any Series winding up of Sharesits business, the Trustees may, to the extent they deem it appropriate, follow the procedures set forth in this Section 9.2(b) with respect to such Class that are specified in connection with the dissolution and winding up of the Trust or any Series of Shares. Alternatively, in connection with the termination of any Class of any Series of Shares, the Trustees may treat such termination as a redemption of the Shareholders of such Class effected pursuant to Section 6.1(k) of this Declaration of Trust provided that the costs relating to the termination of such Class shall be included in the determination of the Net Asset Value of the Shares of such Class for purposes of determining the redemption price to be paid to the Shareholders of such Class (to the extent not otherwise included in such determination). After termination of the Trust or any Series or Class and distribution to the Shareholders as herein provided, 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 cause a certificate of cancellation of the Trust’s 's Certificate of Trust to be filed in accordance with the Delaware Act, which certificate of cancellation may be signed by any one Trustee. Upon termination of the Trust, the Trustees, subject to Section 3808 of the Act, shall be discharged of any and all further liabilities and duties relating thereto or arising therefrom, and the right, title and interest of all parties with respect to the Trust shall be canceled and discharged.

Termination of Trust, Series or Class. (a) Unless terminated as provided herein, the Trust shall continue without limitation of time. The Trust may be terminated at any time by a vote of a Majority of the Trustees and written notice to the Shareholders. Any Series of Shares may be dissolved at any time by vote of a Majority of the Trustees and written notice to the Shareholders of such Series. Any Class of any Series of Shares may be terminated at any time by vote of a Majority majority of the Shares of each Series entitled to vote, voting separately by Series, or by the Trustees and by written notice to the Shareholders. Any Series or Class may be terminated at any time by vote of a majority of the Shares of that Series or Class entitled to vote, or by the Trustees by written notice to the Shareholders of such that Series or Class. Any action to dissolve the Trust shall be deemed also to be an action to dissolve each Series and each Class thereof and any action to dissolve a Series shall be deemed also to be an action to terminate each Class thereof. (b) Upon the requisite Shareholder vote or action by the Trustees to dissolve terminate the Trust or any one or more SeriesSeries of Shares or any Class thereof, after paying or otherwise providing for all charges, taxes, expenses and liabilities, whether due or accrued or anticipated, of the Trust or of the particular Series of any Class thereof as may be determined by the Trustees, the Trust shall shall, in accordance with such procedures as the Trustees consider appropriate appropriate, reduce the remaining assets of the Trust or of the affected Series or Class to distributable form in cash or Shares (if the Trust has not dissolvedany Series remain) Securitiesor other securities, other property or any combination thereof, and distribute the proceeds to the Shareholders of the Trust Series or Classes involved, ratably according to the number of Shares of such Series involved in conformity with or Class held by the provisions several Shareholders of Section 6.1(h) hereofsuch Series or Class on the date of distribution. Thereupon, the Trust or any affected Series or Class shall terminate and the Trustees and the Trust shall be discharged of any and all further liabilities and duties relating thereto or arising therefrom, and the right, title and interest of all parties with respect to the Trust or such Series or Class shall be canceled and discharged. . (c) Upon termination of the requisite action by the Trustees to terminate any Class Trust, following completion of any Series winding up of Sharesits business, the Trustees may, to the extent they deem it appropriate, follow the procedures set forth in this Section 9.2(b) with respect to such Class that are specified in connection with the dissolution and winding up of the Trust or any Series of Shares. Alternatively, in connection with the termination of any Class of any Series of Shares, the Trustees may treat such termination as a redemption of the Shareholders of such Class effected pursuant to Section 6.1(k) of this Declaration of Trust provided that the costs relating to the termination of such Class shall be included in the determination of the Net Asset Value of the Shares of such Class for purposes of determining the redemption price to be paid to the Shareholders of such Class (to the extent not otherwise included in such determination). After termination of the Trust or any Series or Class and distribution to the Shareholders as herein provided, 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 cause a certificate of cancellation of the Trust’s Certificate of Trust to be filed in accordance with the Delaware Act, which certificate of cancellation may be signed by any one Trustee. Upon termination of the Trust, the Trustees, subject to Section 3808 of the Act, shall be discharged of any and all further liabilities and duties relating thereto or arising therefrom, and the right, title and interest of all parties with respect to the Trust shall be canceled and discharged.

Termination of Trust, Series or Class. (a) The Trust may be terminated at any time by a vote of a Majority of the Trustees and written notice to the Shareholders. Any Series of Shares may be dissolved at any time by vote of a Majority of the Trustees and written notice to the Shareholders of such Series. Any Class of any Series of Shares may be terminated at any time by vote of a Majority of the Trustees and written notice to the Shareholders of such Class. Any action to dissolve the Trust shall be deemed also to be an action to dissolve This Trust, each Series and each Class thereof and any action to dissolve a Series shall be deemed also to be an action to terminate each Class thereof.have perpetual existence. Notwithstanding the foregoing, the Trustees may, without Shareholder approval (unless the 1940 Act or other applicable law expressly provides otherwise): (bi) Upon the requisite action by the Trustees to dissolve the Trust sell and convey all or any one or more Series, after paying or otherwise providing for all charges, taxes, expenses and liabilities, whether due or accrued or anticipated, portion of the Trust or of the particular Series as may be determined by the Trustees, the Trust shall in accordance with such procedures as the Trustees consider appropriate reduce the remaining assets of the Trust or of the affected Series to distributable form another entity that is an open-end investment company as defined in cash the 1940 Act, or Shares (if is a series thereof, for adequate consideration, which may include the assumption of all outstanding and contingent liabilities of the Trust has not dissolvedof any affected Series, and which may include Shares of or interests in such Series, entity, or series thereof; or (ii) Securities, other property sell and convert into money all or any combination thereofportion of the assets of the Trust or the affected Series. Upon paying or making reasonable provision for the payment of all known liabilities of the Trust or any affected Series, and by assumption or otherwise, the Trustees shall distribute the remaining proceeds to or assets (as the case may be) ratably among the Shareholders of the Trust or the affected Series; however, the payment to any particular Series involved or Class may be reduced by any fees, expenses, or charges allocated to that Series or Class. (b) In determining whether to dissolve the Trust or a Series, the Trustees may take into account whether continuation of the Trust or Series is in conformity with the provisions best interest of Section 6.1(hthe Trust, such Series, or their Shareholders as a result of factors or events adversely affecting the ability of the Trust of Series to conduct its business and operations in an economically viable manner. These factors and events may include the inability of the Trust or a Series to maintain its assets at an appropriate size, changes in laws or regulations governing the Trust or Series or affecting the assets of the type in which the Trust or Series invests, or economic developments or trends having a significant adverse affect on the business or operations of the Trust or Series. If a majority of the Trustees determine that the continuation of the Trust or Series is not in the best interests of the Trust, the Series or their Shareholders, such determination is conclusive and binding on the Trust, Series, or Shareholders. (c) hereof. ThereuponAt any time that there are no Outstanding Shares of the Trust, a Series or a Class, the Trustees may abolish the Trust, Series or Class, as applicable, and, if applicable, the establishment and designation thereof. (d) Upon completion of the distribution of the remaining proceeds or the remaining assets or abolishment of a Trust or a Series as provided in this Section, the Trust or any affected Series shall terminate and terminate. Upon such termination, the Trustees and the Trust shall be discharged of any and all further liabilities and duties relating thereto or arising therefrom, and the right, title and interest of all parties with respect to such Series shall be canceled and discharged. Upon the requisite action by the Trustees to terminate any Class of any Series of Shares, the Trustees may, to the extent they deem it appropriate, follow the procedures set forth in this Section 9.2(b) with respect to such Class that are specified in connection with the dissolution and winding up of the Trust or any Series of Shares. Alternatively, in connection with the termination of any Class of any Series of Shares, the Trustees may treat such termination as a redemption of the Shareholders of such Class effected pursuant to Section 6.1(k) of this Declaration of Trust provided that the costs relating to the termination of such Class shall be included in the determination of the Net Asset Value of the Shares of such Class for purposes of determining the redemption price to be paid to the Shareholders of such Class (to the extent not otherwise included in such determination). After termination of the Trust or any Series or Class and distribution to the Shareholders as herein provided, 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 cause a certificate of cancellation of the Trust’s Certificate of Trust to be filed in accordance with the Act, which certificate of cancellation may be signed by any one Trustee. Upon termination of the Trust, the Trustees, subject to Section 3808 of the Act, shall be discharged of any and all further liabilities and duties relating thereto or arising therefrom, hereunder and the right, title and interest of all parties with respect to the Trust Trust, Series or Class shall be canceled and discharged. Upon dissolution (as defined in The Delaware Act) of the Trust, following completion of winding up of its business, the Trustees shall cause a certificate of cancellation of the Trust's certificate of trust, which may be signed by any one Trustee, to be filed in accordance with the Delaware Act. (e) The dissolution or termination of a Series or a Class shall not affect the existence of the Trust or any other Series or Class. Upon completion of the winding up of the affairs of a terminated Series and the distribution of the assets, the Trustees shall, by Board resolution or other written instrument, record in the Trust's books and records that the Series or Class is terminated.

Termination of Trust, Series or Class. (a) Unless terminated as provided herein, the Trust, and any Series or Class thereof, shall continue without limitation of time. The Trust may be terminated at Trust, or any time by a vote of a Majority of the Trustees and written notice to the Shareholders. Any Series of Shares or Class thereof, may be dissolved at any time and for any reason, or no reason at all, by vote the Sponsor. The Sponsor shall set a date on which the Trust, or any Series or Class thereof, shall dissolve and mail notice of a Majority of the Trustees and written notice that dissolution to the Shareholders. The Shareholders of such Series. Any Class of shall have no rights to terminate or revoke the Trust, any Series of Shares may be terminated at or any time by vote of a Majority of the Trustees and written notice to the Shareholders of such Class. Any action to dissolve the Trust shall be deemed also to be an action to dissolve each Series and each Class thereof and any action to dissolve a Series shall be deemed also to be an action to terminate each Class thereof. (b) Upon the requisite action by the Trustees to dissolve On or after dissolution of the Trust (or any one Series or more SeriesClass, as the case may be), after paying or otherwise providing making reasonable provision for all charges, taxes, expenses expenses, claims and liabilitiesliabilities of the Trust, or severally, with respect to each Series or Class (or the applicable Series or Class, as the case may be), whether due or accrued or anticipated, of the Trust or of the particular Series anticipated as may be determined by the TrusteesSponsor and otherwise complying with section 3808 of the DSTA, the Sponsor shall wind up the business and affairs of the Trust shall (or Series or Class, as the case may be) in accordance with section 3808 of the DSTA. Subject to the payment or the reasonable provision of such procedures payment by the Sponsor of the claims and obligations of the Trust, Fund or Class, as the Trustees consider appropriate reduce the remaining assets case may be, as required by section 3808 of the Trust or of the affected Series to distributable form in cash or Shares (if the Trust has not dissolved) SecuritiesDSTA, other property or any combination thereof, and distribute the proceeds to the Shareholders of the Trust or the dissolving Series involved in conformity with or Class, as the provisions case may be, will, upon (i) surrender of Section 6.1(htheir Shares, (ii) hereofpayment of any Transaction Fee and (iii) payment of any applicable taxes or other governmental charges, be entitled to delivery to them or upon their order, of the amount of applicable Trust Estate represented by those Shares. Thereupon, The Sponsor shall not accept any affected Series shall terminate and delivery of Baskets after the Trustees and date of dissolution. If any Shares remain outstanding after the date of dissolution of the Trust or the dissolved Series or Class, as the case may be, the Sponsor thereafter shall be discharged discontinue the registration of any and all further liabilities and duties relating thereto or arising therefrom, and the right, title and interest transfers of all parties with respect to such Series shall be canceled and discharged. Upon the requisite action by the Trustees to terminate any Class of any Series of Shares, shall not make any distributions to Shareholders and shall not give any further notices, except that the Trustees maySponsor shall continue to collect distributions pertaining to applicable Trust Estate and hold the same uninvested and without liability for interest, pay pursuant to section 3808 of the extent they deem it appropriate, follow DSTA the procedures Trust’s expenses as set forth in this Section 9.2(b) Trust Agreement and sell Trust, Fund or Class, as the case may be, assets as necessary to meet those expenses and shall continue to deliver applicable Trust Estate, together with any distributions received with respect thereto and the net proceeds of the sale of any other property, in exchange for Shares surrendered to the Sponsor (after deducting or upon payment of, in each case, the Transaction Fee for the surrender of Shares, any expenses for the account of the Shareholder of such Class that are specified Shares in connection accordance with the terms and conditions of this Trust Agreement and any applicable taxes or other governmental charges) or otherwise under such other procedures the Sponsor deems, in its discretion to be appropriate. At any time after the expiration of ninety (90) days following the date of dissolution of the Trust or the dissolved Series or Class, as the case may be, the Sponsor may sell, or cause the sale of, the applicable Trust Estate then held under this Trust Agreement and may thereafter, after complying with section 3808 of the DSTA, cause to be held with the Custodian uninvested the net proceeds of any such sale and without liability for interest, for the pro rata benefit of the Shareholders of the Shares that have not theretofore been surrendered. (c) Upon the completion of the winding up of the Trust or any and all its Series of Shares. Alternatively, in connection accordance with the termination of any Class of any Series of SharesDSTA and this Trust Agreement, the Trustees may treat such termination as a redemption of the Shareholders of such Class effected pursuant to Section 6.1(k) of this Declaration of Trust provided that the costs relating to the termination of such Class shall be included in the determination of the Net Asset Value of the Shares of such Class for purposes of determining the redemption price to be paid to the Shareholders of such Class (to the extent not otherwise included in such determination). After termination of the Trust or any Series or Class and distribution to the Shareholders as herein provided, 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 Sponsor shall cause the Trustee to file a certificate of cancellation with the Secretary of State of the Trust’s Certificate State of Trust to be filed Delaware (at the expense of the Sponsor) in accordance with the Actprovisions of section 3810 of the Delaware Act and thereupon, which certificate the Trust and this Trust Agreement (other than Section 2.4 hereof, shall terminate. The provisions of cancellation may be signed by any one Trustee. Upon Section 2.4 hereof shall survive the termination of the Trust. After making such filing, the Trustees, subject to Section 3808 of Trustee and the Act, Sponsor shall be discharged from all obligations under this Trust Agreement, except to account for such net proceeds and other cash (after deducting, in each case, any fees, expenses, taxes or other governmental charges payable by the Trust, the Transaction Fees for the surrender of Shares and any expenses for the account of the Shareholder of such Shares in accordance with the terms and all further liabilities conditions of this Trust Agreement and duties relating thereto any applicable taxes or arising therefrom, and the right, title and interest of all parties with respect to the Trust shall be canceled and dischargedother governmental charges).