Common use of Control Share Acquisitions Clause in Contracts

Control Share Acquisitions. The Trust shall be subject to Sections 3-701 through 3-707 (the “Control Share Act”) of the Maryland General Corporation Law to the same extent as if the Trust were a Maryland corporation registered under the 1940 Act as a closed-end investment company that had elected to be subject to the Control Share Act by resolution of its board of directors and, accordingly, the Control Share Act shall apply to any acquisition or proposed acquisition of Shares to the extent provided therein. Notwithstanding the foregoing sentence, (1) the Control Share Act shall not apply to the voting rights of the holders of any preferred shares issued by the Trust (but only with respect to such preferred shares); (2) the Control Share Act shall not apply to the voting rights of any person acquiring Shares in a control share acquisition (as defined in the Control Share Act) if, prior to the acquisition, the person obtains approval of the Board of Trustees exempting the acquisition from the Control Share Act specifically, generally, or generally by types, which exemption may include the person and the person’s affiliates or associates or other persons; and (3) to the extent that any provisions of the Control Share Act are determined to be inconsistent with the 1940 Act, then any such provisions shall not apply. No holder of Shares shall be entitled to exercise the rights of an objecting stockholder under Section 3-708 of the Maryland General Corporation Law.

Control Share Acquisitions. The Trust shall be subject to Sections 3-701 through 3-707 (the “Control Share Act”) of the Maryland General Corporation Law to the same extent as if the Trust were a Maryland corporation registered under the 1940 Act as a closed-closed end investment company that had elected to be subject to the Control Share Act by resolution of its board of directors and, accordingly, the Control Share Act shall apply to any acquisition or proposed acquisition of Shares to the extent provided therein. Notwithstanding the foregoing sentence, (1) the Control Share Act shall not apply to the voting rights of the holders of any preferred shares issued by the Trust (but only with respect to such preferred shares); (2) the Control Share Act shall not apply to the voting rights of any person acquiring Shares in a control share acquisition (as defined in the Control Share Act) if, prior to the acquisition, the person obtains approval of the Board of Trustees exempting the acquisition from the Control Share Act specifically, generally, or generally by types, which exemption may include the person and the person’s affiliates or associates or other persons; and (3) to the extent that any provisions of the Control Share Act are determined to be inconsistent with the 1940 Act, then any such provisions shall not apply. No holder of Shares shall be entitled to exercise the rights of an objecting stockholder under Section 3-708 of the Maryland General Corporation Law.