Common use of Vacancies; Removal Clause in Contracts

Vacancies; Removal. Section 2. Subject to the voting powers of one or more classes or series of Shares as set forth in the By-Laws, any vacancies occurring in the Board of Trustees may be filled by the Trustees if, immediately after filling any such vacancy, at least two-thirds of the Trustees then holding office shall have been elected to such office by the Shareholders. In the event that at any time less than a majority of the Trustees then holding office were elected to such office by the Shareholders, the Trustees shall call a meeting of Shareholders for the purpose of electing Trustees. At any meeting called for such purpose and subject to the voting powers of one or more classes or series of Shares as set forth in the By-Laws, a Trustee may be removed, with or without cause, by vote of a majority of the outstanding Shares of the classes or series entitled to vote for the election of such Trustee. By vote of a majority of the Trustees then in office, the Trustees may remove a Trustee with or without cause. The first paragraph of Section 4 of Article IV of the Agreement and Declaration of Trust is amended to read in its entirety as follows:

Vacancies; Removal. Section 2. Subject to the voting powers of one or more classes or series of Shares as set forth in the By-Laws, any vacancies occurring in the Board of Trustees may be filled by the Trustees if, immediately after filling any such vacancy, at least two-thirds of the Trustees then holding office shall have been elected to such office by the Shareholders. In the event that at any time less than a majority of the Trustees then holding office were elected to such office by the Shareholders, the Trustees shall call a meeting of Shareholders for the purpose of electing Trustees. At any meeting called for such purpose and subject to the voting powers of one or more classes or series of Shares as set forth in the By-Laws, a Trustee may be removed, with or without cause, by vote of a majority seventy-five percent (75%) of the outstanding Shares of the classes or series entitled to vote for the election of such Trustee. By vote of a majority seventy-five percent (75%) of the Trustees then in office, the Trustees may remove a Trustee with or without cause. The first paragraph of Section 4 of Article IV of the Agreement and Declaration of Trust is amended to read in its entirety as follows:.

Vacancies; Removal. Section SECTION 2. Subject to the voting powers of one or more classes or series of Shares as set forth in the By-Laws, any vacancies occurring in the Board of Trustees may be filled by the Trustees if, immediately after filling any such vacancy, at least two-thirds of the Trustees then holding office shall have been elected to such office by the Shareholders. In the event that at any time less than a majority of the Trustees then holding office were elected to such office by the Shareholders, the Trustees shall call a meeting of Shareholders for the purpose of electing Trustees. At any meeting called for such purpose and subject to the voting powers of one or more classes or series of Shares as set forth in the By-Laws, a Trustee may be removed, with or without cause, by vote of a majority of the outstanding Shares of the classes or series entitled to vote for the election of such Trustee. By vote of a majority of the Trustees then in office, the Trustees may remove a Trustee with or without cause. The first paragraph of Section 4 of Article IV of the Agreement and Declaration of Trust is amended to read in its entirety as follows:

Vacancies; Removal. Section 2. Subject to the voting powers of one or more classes or series of Shares as set forth in the By-Laws, any vacancies occurring in the Board of Trustees may be filled by the Trustees if, immediately after filling any such vacancy, at least two-thirds of the Trustees then holding office shall have been elected to such office by the Shareholders. In the event that at any time less than a majority of the Trustees then holding office were elected to such office by the Shareholders, the Trustees shall call a meeting of Shareholders for the purpose of electing Trustees. At any meeting called for such purpose and subject to the voting powers of one or more classes or series of Shares as set forth in the By-Laws, a Trustee may be removed, with or without cause, by vote of the holders of a majority of the outstanding Shares of the classes or series entitled to vote for the election of such Trustee. By vote of a majority of the Trustees then in office, the Trustees may remove a Trustee with or without cause. The first paragraph of Section 4 of Article IV of the Agreement and Declaration of Trust is amended to read in its entirety as follows: