Trustee Election. In mutual consideration for each Certificateholder's purchase of a Certificate, each Certificateholder acknowledges that it intends that the Trust be excluded from the application of the rules of subchapter K of the Code in the event that the Internal Revenue Service successfully recharacterizes the Trust as a partnership for federal income tax purposes, and will be deemed to have consented to the making of a protective election pursuant to Treasury Regulation Section 1.761-2 as of the date hereof.
Trustee Election. In the event the Internal Revenue Service successfully recharacterizes the Trust as a partnership for federal income tax purposes, the Trustee, on behalf of all of the past and present partners of such partnership, will, to the extent possible, elect out of subchapter K of the Code pursuant to Treasury Regulation 1.761-2. Such election will, to the extent possible, be effective for the first taxable year of the Trust and thereafter. Each Certificateholder is deemed to consent to such election.
Trustee Election. 13 SECTION 27.
Trustee Election. This Proposal applies only to shareholders of the Janus Target. At the Janus Meeting, shareholders of all of the series of the Janus Trust will be asked to elect an additional individual to the Janus Board of Trustees. Currently, the Janus Board has eight members, each of whom is an Independent Trustee. In connection with the Parent Company Transaction, the Janus Board has sought to increase the size of the Janus Board to nine members and has nominated Diane L. Wallace (the “Trustee Nominee”) to stand for election as a Trustee.
Trustee Election. Election of an additional Trustee will be determined by the affirmative vote of a plurality (the greatest number of affirmative votes) of the shares with respect to each fund in the Trust. The presence in person or by proxy of the holders of record of one-third of the aggregate total shares entitled to vote of all funds in the Trust constitutes a quorum at the Meeting with respect to this Proposal 4 with all classes of shares of a Fund voting together as a single class.
