Common use of Combination of Series Clause in Contracts

Combination of Series. The Board of Trustees shall have the authority, without the approval of the Shareholders of any Series unless otherwise required by applicable law, to combine the assets and liabilities held with respect to any two or more Series into assets and liabilities held with respect to a single Series; PROVIDED that upon completion of such combination of Series, the proportionate interest of each Shareholder, in the assets and liabilities held with respect to the combined Series shall equal the proportionate interest of each such Shareholder in the assets and liabilities held with respect to each Series that was combined.

Combination of Series. The Board of Trustees shall have the authority, without the approval of the Shareholders of any Series unless otherwise required by applicable law, to combine the assets and liabilities held with respect to any two or more Series into assets and liabilities held with respect to a single Series; PROVIDED that upon completion of such combination of Series, the proportionate interest of each Shareholder, in the combined assets and liabilities held with respect to the combined Series shall equal the proportionate interest of each such Shareholder in the aggregate of the assets and liabilities held with respect to each the Series that was were combined.