Powers of the Trustees. Subject to the provisions of this Declaration of Trust, the business of the Trust shall be managed by the Trustees, and they shall have all powers necessary or convenient to carry out that responsibility and the purpose of the Trust. Without limiting the foregoing, the Trustees may adopt Bylaws not inconsistent with this Declaration of Trust providing for the conduct of the business and affairs of the Trust and may amend and repeal them to the extent that such Bylaws do not reserve that right to the Shareholders; they may as they consider appropriate elect and remove officers and appoint and terminate agents and consultants and hire and terminate employees, any one or more of the foregoing of whom may be a Trustee, and may provide for the compensation of all of the foregoing; they may appoint from their own number, and terminate, any one or more committees consisting of two or more Trustees, including without implied limitation an executive committee, which may, when the Trustees are not in session and subject to the 1940 Act, exercise some or all of the power and authority of the Trustees as the Trustees may determine; in accordance with Section 3.3 they may employ one or more advisers, administrators, depositories and custodians and may authorize any depository or custodian to employ subcustodians or agents and to deposit all or any part of such assets in a system or systems for the central handling of securities and debt instruments, retain transfer, dividend, accounting or Shareholder servicing agents or any of the foregoing, provide for the distribution of Shares by the Trust through one or more distributors, principal underwriters or otherwise, set record dates or times for the determination of Shareholders or various of them with respect to various matters; they may compensate or provide for the compensation of the Trustees, officers, advisers, administrators, custodians, other agents, consultants and employees of the Trust or the Trustees on such terms as they deem appropriate; and in general they may delegate to any officer of the Trust, to any committee of the Trustees and to any employee, adviser, administrator, distributor, principal underwriter, depository, custodian, transfer and dividend disbursing agent, or any other agent or consultant of the Trust such authority, powers, functions and duties as they consider desirable or appropriate for the conduct of the business and affairs of the Trust, including without implied limitation the power an...
Powers of the Trustees. Without limiting the provisions of Section 5.1, the Trustees shall have power and authority:
5.3.1. To operate as, and to carry on the business of, an investment company, and exercise all the powers necessary and appropriate to the conduct of such operations;
5.3.2. To invest and reinvest cash and cash items, to hold cash uninvested, and to subscribe for, invest in, reinvest in, purchase or otherwise acquire, own, hold, pledge, sell, assign, transfer, exchange, distribute, write options on, lend or otherwise deal in or dispose of contracts for the future acquisition or delivery of all types of securities, futures contracts and options thereon, and forward currency contracts of every nature and kind, including, without limitation, all types of bonds, debentures, stocks, preferred stocks, negotiable or non-negotiable instruments, obligations, evidences of indebtedness, certificates of deposit or indebtedness, commercial paper, repurchase agreements, bankers’ acceptances, and other securities of any kind, issued, created, guaranteed, or sponsored by any and all Persons, including, without limitation, states, territories, and possessions of the United States and the District of Columbia and any political subdivision, agency, or instrumentality thereof, any foreign government or any political subdivision of the U.S. Government or any foreign government, or any international instrumentality or organization, or by any bank or savings institution, or by any corporation or organization organized under the laws of the United States or of any state, territory, or possession thereof, or by any corporation or organization organized under any foreign law, or in “when issued” contracts for any such securities, futures contracts and options thereon, and forward currency contracts, to change the investments of the assets of the Trust; and to exercise any and all rights, powers, and privileges of ownership or interest in respect of any and all such investments of every kind and description, including, without limitation, the right to consent and otherwise act with respect thereto, with power to designate one or more Persons, to exercise any of said rights, powers, and privileges in respect of any of said instruments;
5.3.3. To sell, exchange, lend, pledge, mortgage, hypothecate, lease, or write options with respect to or otherwise deal in any property rights relating to any or all of the assets of the Trust or any Series;
5.3.4. To vote or give assent, or exercise any right...
Powers of the Trustees. 11 Section 4.1 Powers..................................................11 Section 4.2 Issuance and Repurchase of Shares.......................15 Section 4.3 Trustees and Officers as Shareholders...................15 Section 4.4 Action by the Trustees and Committees...................15 Section 4.5 Chairman of the Trustees................................15 Section 4.6 Principal Transactions..................................16
Powers of the Trustees. Powers in General 6 (a) Investments 6 (b) Disposition of Assets 7 (c) Ownership Powers 7 (d) Form of Holding 7 (e) Reorganization, etc. 7
Powers of the Trustees. Section 3.1.
Powers of the Trustees. The Administrative Trustees shall have the exclusive power and authority to cause the Trust to engage in the following activities:
(a) to issue and sell the Preferred Securities and the Common Securities in accordance with this Declaration; provided, however, that the Trust may issue no more than one series of Preferred Securities and no more than one series of Common Securities, and, provided, further, that there shall be no interests in the Trust other the Securities and the issuance of the Securities shall be limited to the simultaneous issuance of both Preferred and Common Securities on the date the Preferred Securities are initially sold and any other date Preferred Securities and Common Securities are sold pursuant to any over-allotment option granted by the Trust under the Purchase Agreement;
(b) in connection with the issuance and sale of the Preferred Securities, at the direction of the Sponsor, to:
(i) permit the use of an offering circular (the "Offering Circular") in preliminary and final form prepared by the Sponsor, in relation to the offering and sale of Preferred Securities to qualified institutional buyers in reliance on Rule 144A under the Securities Act and outside the United States to non-U.S. persons in offshore transactions in reliance on Regulation S under the Securities Act and to execute and file with the Commission, at such time as determined by the Sponsor, a registration statement filed on Form S-3 prepared by the Sponsor, including any amendments thereto in relation to the Preferred Securities;
(ii) execute and file any documents prepared by the Sponsor, or take any acts as determined by the Sponsor to be necessary in order to qualify or register all or part of the Preferred Securities in any State in which the Sponsor has determined to qualify or register such Preferred Securities for sale;
(iii) execute and file an application, prepared by the Sponsor, to the Private Offerings, Resale and Trading through Automated Linkages ("PORTAL") market and, at such time as determined by the Sponsor to the New York Stock Exchange or any other national stock exchange or the Nasdaq National Market for listing or quotation of the Preferred Securities;
(iv) execute and enter into the Purchase Agreement and pricing agreement providing for the sale of the Preferred Securities;
(c) to employ or otherwise engage employees and agents (who may be designated as officers with titles) and managers, contractors, advisors, and consultants and provide fo...
Powers of the Trustees. In addition to all other powers vested in them by this Deed or by law the Trustees shall have the following powers:
Powers of the Trustees. 11.1 The Trustees shall, in addition to such other powers as may be conferred upon them by law or elsewhere in this Trust Deed, have the following powers –
11.1.1 to do all things reasonably necessary to give effect to the Scheme;
11.1.2 to open a CSDP account for purposes of holding the Scheme Shares on behalf of and for the beneficial interest of the Participants;
11.1.3 for purposes of the Scheme, to borrow or raise monies from the Company only, provided that if the Trustees are able to borrow or raise monies on better terms from a third party than from the Company, the Trustees may borrow or raise monies from such third party with the prior consent of the Board;
11.1.4 to receive and accept capital contributions from the Company;
11.1.5 to make Offers and Allocations to Qualifying Employees;
11.1.6 to receive and accept forfeited Scheme Shares which shall be used by the Trustees for purposes of making future Offers to New Qualifying Employees as envisaged in clause 19.4;
11.1.7 instead of acting personally, to employ, as far as may reasonably be necessary, and to pay, any attorney or any other person to transact any business or do any act of whatsoever nature required to be done pursuant to this Trust Deed, including the administration of the Trust and the receipt or of payment of money;
11.1.8 to take and act upon any expert or professional advice;
11.1.9 to delegate to any person the performance of all or any acts or the exercise of all or any Discretions which they are entitled to perform or exercise under this Trust Deed;
11.1.10 subject to the Trust Property Control Act, No. 57 of 1988, to open and operate banking accounts with registered banks;
11.1.11 to invest any surplus monies of the Trust in call or deposit accounts with a registered bank;
11.1.12 to draw, accept, make or endorse cheques, bills of exchange or promissory notes for and on behalf of the Trust;
11.1.13 to exercise all rights conferred by Scheme Shares and other assets of the Trust on behalf of the Participants, including voting rights, rights of conversion, rights to take up further allotments by way of capitalisation issues or rights issues and the like, as they may determine in their Discretion;
11.1.14 to exercise such further rights, powers and authorities as may from time to time be conferred upon them by the Board;
11.1.15 to repay any loans advanced to the Trust;
11.1.16 pursuant to the Delivery Date and the Settlement Date, to sell Vested Scheme Shares and/or Entitlement...
Powers of the Trustees. SECTION 4
