Common use of Approval of Plan Clause in Contracts

Approval of Plan. This Plan will become effective with respect to a particular Fund on the date the public offering of Class B Shares of such Fund commences upon the approval by a majority of the Board of Directors, including a majority of those directors who are not “interested persons” (as defined in the 0000 Xxx) of the Company and who have no direct or indirect financial interest in the operation of the Plan or in any agreements entered into in connection with the Plan (the “Disinterested Directors”), pursuant to a vote cast in person at a meeting called for the purpose of voting on the approval of the Plan.

Appears in 2 contracts

Samples: Distribution and Services Plan (PNC Funds Inc), Distribution and Services Plan (PNC Funds Inc)

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Approval of Plan. This Plan will become effective with respect to a particular Fund on the date the public offering of Service Class B Shares of such Fund commences upon the approval by a majority of the Board of Directors, including a majority of those directors who are not “interested persons” (as defined in the 0000 Xxx) of the Company and who have no direct or indirect financial interest in the operation of the Plan or in any agreements entered into in connection with the Plan (the “Disinterested Directors”), pursuant to a vote cast in person at a meeting called for the purpose of voting on the approval of the Plan.

Appears in 2 contracts

Samples: Distribution and Services Plan (PNC Funds Inc), Distribution and Services Plan (PNC Funds Inc)

Approval of Plan. This Plan will become effective with respect to a particular Fund on the date the public offering of Class B C Shares of such Fund commences upon the approval by a majority of the Board of Directors, including a majority of those directors who are not “interested persons” (as defined in the 0000 Xxx) of the Company and who have no direct or indirect financial interest in the operation of the Plan or in any agreements entered into in connection with the Plan (the “Disinterested Directors”), pursuant to a vote cast in person at a meeting called for the purpose of voting on the approval of the Plan.

Appears in 2 contracts

Samples: Distribution and Services Plan (PNC Funds Inc), Distribution and Services Plan (PNC Funds Inc)

Approval of Plan. This Plan will become effective with respect to a particular Fund on the date the public offering of Class B A Shares of such Fund commences upon the approval by a majority of the Board of Directors, including a majority of those directors who are not “interested persons” (as defined in the 0000 Xxx) of the Company and who have no direct or indirect financial interest in the operation of the Plan or in any agreements entered into in connection with the Plan (the “Disinterested Directors”), pursuant to a vote cast in person at a meeting called for the purpose of voting on the approval of the Plan.

Appears in 2 contracts

Samples: Distribution and Services Plan (PNC Funds Inc), Distribution and Services Plan (PNC Funds Inc)

Approval of Plan. This Plan will become effective with respect to a particular Fund on the date the public offering of Class B Shares of such Fund commences upon the approval by a majority of the Board of Directors, including a majority of those directors who are not “interested persons” (as defined in the 0000 1000 Xxx) of the Company and who have no direct or indirect financial interest in the operation of the Plan or in any agreements entered into in connection with the Plan (the “Disinterested Directors”), pursuant to a vote cast in person at a meeting called for the purpose of voting on the approval of the Plan.

Appears in 1 contract

Samples: Distribution and Services Plan (Mercantile Funds Inc)

Approval of Plan. This Plan will become effective with respect to a particular Fund on the date the public offering of Class B A Shares of such Fund commences upon the approval by a majority of the Board of Directors, including a majority of those directors who are not "interested persons" (as defined in the 0000 Xxx) of the Company and who have no direct or indirect financial interest in the operation of the Plan or in any agreements entered into in connection with the Plan (the "Disinterested Directors"), pursuant to a vote cast in person at a meeting called for the purpose of voting on the approval of the Plan.

Appears in 1 contract

Samples: Distribution Agreement (Mercantile Funds Inc)

Approval of Plan. This Plan will become effective with respect to a particular Fund on the date the public offering of Class B C Shares of such Fund commences upon the approval by a majority of the Board of Directors, including a majority of those directors who are not "interested persons" (as defined in the 0000 Xxx) of the Company and who have no direct or indirect financial interest in the operation of the Plan or in any agreements entered into in connection with the Plan (the "Disinterested Directors"), pursuant to a vote cast in person at a meeting called for the purpose of voting on the approval of the Plan.

Appears in 1 contract

Samples: Distribution Agreement (Mercantile Funds Inc)

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Approval of Plan. This Plan will become effective with respect to a particular Fund on the date the public offering of Class B A Shares of such Fund commences upon the approval by a majority of the Board of Directors, including a majority of those directors who are not “interested persons” (as defined in the 0000 1000 Xxx) of the Company and who have no direct or indirect financial interest in the operation of the Plan or in any agreements entered into in connection with the Plan (the “Disinterested Directors”), pursuant to a vote cast in person at a meeting called for the purpose of voting on the approval of the Plan.

Appears in 1 contract

Samples: Distribution and Services Plan (Mercantile Funds Inc)

Approval of Plan. This Plan will become effective with respect to a particular Fund on the date the public offering of Service Class B Shares of such Fund commences upon the approval by a majority of the Board of Directors, including a majority of those directors who are not “interested persons” (as defined in the 0000 1000 Xxx) of the Company and who have no direct or indirect financial interest in the operation of the Plan or in any agreements entered into in connection with the Plan (the “Disinterested Directors”), pursuant to a vote cast in person at a meeting called for the purpose of voting on the approval of the Plan.

Appears in 1 contract

Samples: Distribution and Services Plan (Mercantile Funds Inc)

Approval of Plan. This Plan will become effective with respect to a particular Fund on the date the public offering of Class B Shares of such Fund commences upon the approval by a majority of the Board of Directors, including a majority of those directors who are not "interested persons" (as defined in the 0000 Xxx) of the Company and who have no direct or indirect financial interest in the operation of the Plan or in any agreements entered into in connection with the Plan (the "Disinterested Directors"), pursuant to a vote cast in person at a meeting called for the purpose of voting on the approval of the Plan.

Appears in 1 contract

Samples: Distribution Agreement (Mercantile Funds Inc)

Approval of Plan. This Plan will become effective with respect to a particular Fund on the date the public offering of Class B C Shares of such Fund commences upon the approval by a majority of the Board of Directors, including a majority of those directors who are not “interested persons” (as defined in the 0000 1000 Xxx) of the Company and who have no direct or indirect financial interest in the operation of the Plan or in any agreements entered into in connection with the Plan (the “Disinterested Directors”), pursuant to a vote cast in person at a meeting called for the purpose of voting on the approval of the Plan.

Appears in 1 contract

Samples: Distribution and Services Plan (Mercantile Funds Inc)

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