Validity of Action. No action determined by the vote of the Directors, directly or through the vote of an umpire as herein contemplated, shall be valid or effective which shall interpret or apply any provisions of this indenture in any manner or to any extent so as to be contrary to any applicable law or governmental rule or regulation or which would exceed the powers given to the Directors as set forth hereunder or change or enlarge the express purpose hereof.
Appears in 4 contracts
Samples: Agreement and Declaration of Trust, Agreement and Declaration of Trust, Agreement and Declaration of Trust
