Common use of Unitholder Meetings Clause in Contracts

Unitholder Meetings. (1) The Manager or the Trustee may, or the Trustee shall, upon the written request of the Manager, call and hold a Unitholders’ meeting of any Fund and/or series within a Fund at any time and notice of such meeting shall be given by the Manager to the Unitholders of that Fund and/or series in such manner as it may determine provided that all Unitholders of that Fund entitled to vote at such meeting shall receive at least 21 days’ notice in writing of any such meeting. (2) Subject to compliance with Applicable Laws, the Manager may fix in advance a time and date, preceding the date of any meeting of Unitholders, as the record date for the determination of the Unitholders entitled to notice of the meeting. If no record date is fixed by the Manager, the record date for notice shall be at the close of business on the second Business Day immediately preceding the day on which notice of the meeting is given to Unitholders. (3) The Manager may fix in advance a time and date, preceding the date of any meeting of Unitholders, as the record date for determination of the Unitholders entitled to vote at the meeting. If a record date for voting is fixed by the Manager, such date shall be specified in the notice calling the meeting. If no record date for voting is fixed by the Manager, the record date for voting shall be 4:00 p.m., Eastern Time, on the last Business Day before the meeting. (4) A quorum for a meeting of Unitholders shall be a nominee of the Manager and at least two Unitholders of that Fund entitled to vote at such meeting present in person or by proxy. (5) If within half an hour from the time appointed for the meeting a quorum is not present, the meeting shall stand adjourned to the same day in the next week, at the same time and place and, if at the adjourned meeting a quorum is not present within half an hour from the time appointed for the meeting, the members present shall be a quorum. (6) An officer, director or nominee of the Manager shall be the chairman of the meeting. (7) If required by applicable legislation or if the Manager determines that any matter would affect Unitholders of one or more particular series of Units of a Fund in a manner materially different from the Unitholders as a whole of that Fund or as a series of that Fund, as the case may be, the Manager shall convene separate meetings of Unitholders of those series of Units of the Fund. The meetings may be held concurrently and the Unitholders shall be entitled to vote separately as a series with respect to any of these matters. In addition, unless otherwise required by applicable legislation, holders of a series of Units of a Fund shall not be entitled to vote at any meeting of Unitholders of that Fund on matters which do not affect such holders of Units of that series.