Common use of CLOSING OF TRANSFER BOOKS OR FIXING OF RECORD DATE Clause in Contracts

CLOSING OF TRANSFER BOOKS OR FIXING OF RECORD DATE. For the purpose of determining unitholders entitled to notice of or to vote at any meeting of unitholders or any adjournment thereof, or unitholders entitled to receive payment of any dividend, or in order to make a determination of unitholders for any other proper purpose, the Directors of the Fund may provide that the unit transfer books shall be closed for a stated period not to exceed, in any case, fifty (50) days. If the unit transfer books shall be closed for the purpose of determining unitholders entitled to notice of or to vote at a meeting of unitholders, or unitholders entitled to receive payment of any dividend, or in order to make a determination of unitholders for any other proper purpose, such books shall be closed for at least twenty (20) days immediately preceding such meeting. In lieu of closing the unit transfer books, the Directors may fix in advance a date as the record date for any such determination of unitholders, such date in any case to be not more than fifty (50) days and, in case of a meeting of unitholders, not less than twenty (20) days prior to the date on which the particular action requiring such determination of unitholders is to be taken. If the unit transfer books are not closed and no record date is fixed for the determination of unitholders entitled to notice of or to vote at a meeting of unitholders, or unitholders entitled to receive payment of a dividend, the date on which notice of the meeting is mailed or the date on which the resolution of the Directors declaring such dividend is adopted, as the case may be, shall be the record date for such determination of unitholders. When a determination of unitholders entitled to vote at any meeting of unitholders has been made as provided in this section, such determination shall apply to any adjournment thereof.