Combination of Series or Classes. (i) The Board shall have the authority, without the approval, vote or consent of the Shareholders of the Trust or any Series, unless otherwise required by applicable law, to combine, merge or otherwise consolidate the assets associated with, and liabilities existing with respect to, any two or more Series into assets associated with, and liabilities existing with respect to, a single Series with such designation, preference, conversion or other rights, voting powers, restrictions, limitations as to dividends, qualifications, terms and conditions of redemption and other characteristics as the Board may determine; provided that upon completion of such combination, merger or other consolidation of Series, the interest of each Shareholder, in the combined assets associated with, and liabilities existing with respect to, the combined Series shall equal the interest of each such Shareholder in the aggregate of the assets associated with, and liabilities existing with respect to, the Series that were combined, merged or otherwise consolidated; and provided further that the Board shall provide written notice to the affected Shareholders of any such transaction.
Appears in 5 contracts
Samples: Agreement and Declaration (Nationwide Variable Insurance Trust), Agreement and Declaration of Trust (Bennett Group Master Funds), Agreement and Declaration (Nationwide Mutual Funds)
