Common use of Division of Beneficial Interest Clause in Contracts

Division of Beneficial Interest. The beneficial interest in the Trust shall at all times be divided into an unlimited number of Shares, without par value, but the Trustees shall have the authority from time to time to issue Shares in one or more Series as they deem necessary or desirable (each of which Series of Shares shall represent the beneficial interest in a separate and distinct sub-trust of the Trust). Subject to the provisions of Section 6 of this Article III, each Share shall have voting rights as provided in Article V hereof, and holders of the Shares of any Series shall be entitled to receive dividends, when and as declared with respect thereto in the manner provided in Article VI, Section 1 hereof. No Shares shall have any priority or preference over any other Share of the same Series with respect to dividends or distributions upon termination of the Trust or of such Series made pursuant to Article VIII, Section 4 hereof. All dividends and distributions shall be made ratably among all Shareholders of a particular Series from the assets belonging to such Series according to the number of Shares of such Series held of record by each Shareholder on the record date for any dividend or on the date of termination, as the case may be. Shareholders shall have no preemptive or other right to subscribe to any additional Shares or other securities issued by the Trust or any Series. The Trustees may from time to time divide or combine the Shares of any particular Series into a greater or lesser number of Shares of that Series without thereby changing the proportionate beneficial interest of the Shares of that Series in the assets belonging to that Series or in any way affecting the rights of Shares of any other Series. Shareholders shall have no right to demand payment for their shares or to any other rights of dissenting shareholders in the event the Trust participates in any transaction which would give rise to appraisal or dissenter's rights by a shareholder of a corporation organized under Chapter 156B of the General Laws of the Commonwealth of Massachusetts, or otherwise.

Appears in 11 contracts

Samples: Funds Agreement (American Century International Bond Funds), Agreement and Declaration (American Century Investment Trust), Municipal Funds Agreement (American Century California Tax Free & Municipal Funds)

AutoNDA by SimpleDocs

Division of Beneficial Interest. The beneficial interest in the Trust shall at all times be divided into an unlimited number of Shares, without with a par value, but value of $ .001 per Share unless the Trustees shall designate another par value in connection with the issuance of Shares or with respect to outstanding Shares as provided in Section 5 of this Article III. The Trustees may authorize the division of Shares into separate Series and the division of Series into separate classes of Shares. The different Series shall be established and designated, and the variations in the relative rights and preferences as between the different Series shall be fixed and determined, by the Trustees. If no Series shall be established or if only one Series shall be established, the Shares shall have the authority from time rights and preferences provided for herein and in Article III, Section 6 hereof to time to issue Shares in one or more Series as they deem necessary or desirable (each of which Series of Shares shall represent the beneficial interest in a separate extent relevant and distinct sub-trust of the Trust)not otherwise provided for herein. Subject to the provisions of Section 6 of this Article III, each Share shall have voting rights as provided in Article V hereof, and holders of the Shares of any Series shall be 108656, v0.9 4 entitled to receive dividends, when when, if and as declared with respect thereto in the manner provided in Article VI, Section 1 hereof. No Shares Share shall have any priority or preference over any other Share of the same Series with respect to dividends or distributions upon termination of the Trust or of such Series made pursuant to Article VIII, Section 4 hereofotherwise. All dividends and distributions shall be made ratably among all Shareholders of a particular Series (or class) from the assets belonging held with respect to such Series according to the number of Shares of such Series (or class) held of record by each Shareholder such Shareholders on the record date for any dividend or on the date of termination, as the case may bedistribution. Shareholders shall have no preemptive or other right to subscribe to any additional Shares or other securities issued by the Trust or any Series. The Trustees may from time to time divide or combine the Shares of any particular a Series into a greater or lesser number of Shares of that such Series without thereby materially changing the proportionate beneficial interest of the such Shares of that Series in the assets belonging held with respect to that Series or in any way materially affecting the rights of Shares of any other Series. Shareholders All references to Shares in this Declaration of Trust shall have no right be deemed to demand payment for their shares or to any other rights be Shares of dissenting shareholders in the event the Trust participates in and of any transaction which would give rise or all Series or classes thereof, as the context may require. All provisions herein relating to appraisal or dissenter's rights by a shareholder of a corporation organized under Chapter 156B the Trust shall apply equally to each Series of the General Laws Trust and each class thereof, except as the context otherwise requires. All Shares issued hereunder, including Xxxxxx issued in connection with a dividend in Shares or a split or reverse split of the Commonwealth of MassachusettsShares, or otherwiseshall be fully paid and non-assessable.

Appears in 4 contracts

Samples: Vanguard Malvern Funds, Vanguard Malvern Funds, Vanguard Malvern Funds

Division of Beneficial Interest. The beneficial interest in the Trust shall at all times be divided into an unlimited number of Shares, without par value, but the Trustees shall have the authority from time to time to issue Shares in one or more Series as they deem necessary or desirable (each of which Series of Shares shall represent the beneficial interest in a separate and distinct sub-trust of the Trust). Subject to the provisions of Section 6 of this Article III, each Share shall have voting rights as provided in Article V hereof, and holders of the Shares of any Series shall be entitled to receive dividends, when and as declared with respect thereto in the manner provided in Article VI, Section 1 hereof. No Except as otherwise provided in Section 6 of this Article III with respect to Shares of Multi-Class Series, no Share shall have any priority or preference over any other Share of the same Series with respect to dividends or distributions upon termination of the Trust or of such Series made pursuant to Article VIII, Section 4 hereof. All Except as otherwise provided in Section 6 of this Article III with respect to Shares of Multi-Class Series, all dividends and distributions shall be made ratably among all Shareholders of a particular Series or from the assets belonging to such Series according to the number of Shares of such Series held of record by each such Shareholder on the record date for any dividend or distribution or on the date of termination, as the case may be. Shareholders shall have no preemptive or other right to subscribe to any additional Shares or other securities issued by the Trust or any SeriesTrust. The Trustees may from time to time divide or combine the Shares of any particular Series or class into a greater or lesser number of Shares of that Series or class without thereby changing the proportionate beneficial interest of the Shares of that Series or class in the assets belonging to that Series or attributable to that class or in any way affecting the rights of Shares of any other Series. Shareholders shall have no right to demand payment for their shares Series or to any other rights of dissenting shareholders in the event the Trust participates in any transaction which would give rise to appraisal or dissenter's rights by a shareholder of a corporation organized under Chapter 156B of the General Laws of the Commonwealth of Massachusetts, or otherwiseclass.

Appears in 3 contracts

Samples: Amended Agreement (CDC Nvest Cash Management Trust), Amended Agreement (CDC Nvest Tax Exempt Money Market Trust), New England Cash Management Trust

Division of Beneficial Interest. The beneficial interest in the Trust shall at all times be divided into an unlimited number of Shares, without with a par value, but value of $ .001 per Share unless the Trustees shall designate another par value in connection with the issuance of Shares or with respect to outstanding Shares as provided in Section 5 of this Article III. The Trustees may authorize the division of Shares into separate Series and the division of Series into separate classes of Shares. The different Series shall be established and designated, and the variations in the relative rights and preferences as between the different Series shall be fixed and determined, by the Trustees. If no Series shall be established or if only one Series shall be established, the Shares shall have the authority from time rights and preferences provided for herein and in Article III, Section 6 hereof to time to issue Shares in one or more Series as they deem necessary or desirable (each of which Series of Shares shall represent the beneficial interest in a separate extent relevant and distinct sub-trust of the Trust)not otherwise provided for herein. Subject to the provisions of Section 6 of this Article III, each Share shall have voting rights as provided in Article V hereof, and holders of the Shares of any Series shall be entitled to receive dividends, when when, if and as declared with respect thereto in the manner provided in Article VI, Section 1 hereof. No Shares Share shall have any priority or preference over any other Share of the same Series with respect to dividends or distributions upon termination of the Trust or of such Series made pursuant to Article VIII108140, Section 4 hereofv0.4 3 otherwise. All dividends and distributions shall be made ratably among all Shareholders of a particular Series (or class) from the assets belonging held with respect to such Series according to the number of Shares of such Series (or class) held of record by each Shareholder such Shareholders on the record date for any dividend or on the date of termination, as the case may bedistribution. Shareholders shall have no preemptive or other right to subscribe to any additional Shares or other securities issued by the Trust or any Series. The Trustees may from time to time divide or combine the Shares of any particular a Series into a greater or lesser number of Shares of that such Series without thereby materially changing the proportionate beneficial interest of the such Shares of that Series in the assets belonging held with respect to that Series or in any way materially affecting the rights of Shares of any other Series. Shareholders All references to Shares in this Declaration of Trust shall have no right be deemed to demand payment for their shares or to any other rights be Shares of dissenting shareholders in the event the Trust participates in and of any transaction which would give rise or all Series or classes thereof, as the context may require. All provisions herein relating to appraisal or dissenter's rights by a shareholder of a corporation organized under Chapter 156B the Trust shall apply equally to each Series of the General Laws Trust and each class thereof, except as the context otherwise requires. All Shares issued hereunder, including Shares issued in connection with a dividend in Shares or a split or reverse split of the Commonwealth of MassachusettsShares, or otherwiseshall be fully paid and non-assessable.

Appears in 2 contracts

Samples: Agreement And (Vanguard Variable Insurance Funds), Agreement And (Vanguard Variable Insurance Funds)

Division of Beneficial Interest. The beneficial interest in the Trust shall at all times be divided into an unlimited number of Shares, without with a par value, but value of $ .001 per Share unless the Trustees shall designate another par value in connection with the issuance of Shares or with respect to outstanding Shares as provided in Section 5 of this Article III. The Trustees may authorize the division of Shares into separate Series and the division of Series into separate classes of Shares. The different Series shall be established and designated, and the variations in the relative rights and preferences as between the different Series shall be fixed and determined, by the Trustees. If no Series shall be established or if only one Series shall be established, the Shares shall have the authority from time rights and preferences provided for herein and in Article III, Section 6 hereof to time to issue Shares in one or more Series as they deem necessary or desirable (each of which Series of Shares shall represent the beneficial interest in a separate extent relevant and distinct sub-trust of the Trust)not otherwise provided for herein. Subject to the provisions of Section 6 of this Article III, each Share shall have voting rights as provided in Article V hereof, and holders of the Shares of any Series shall be entitled to receive dividends, when when, if and as declared with respect thereto in the manner provided in Article VI, Section 1 hereof. No Shares Share shall have any priority or preference over any other Share of the same Series with respect to dividends or distributions upon termination of the Trust or of such Series made pursuant to Article VIII48687, Section v0.3 4 hereofotherwise. All dividends and distributions shall be made ratably among all Shareholders of a particular Series (or class) from the assets belonging held with respect to such Series according to the number of Shares of such Series (or class) held of record by each Shareholder such Shareholders on the record date for any dividend or on the date of termination, as the case may bedistribution. Shareholders shall have no preemptive or other right to subscribe to any additional Shares or other securities issued by the Trust or any Series. The Trustees may from time to time divide or combine the Shares of any particular a Series into a greater or lesser number of Shares of that such Series without thereby materially changing the proportionate beneficial interest of the such Shares of that Series in the assets belonging held with respect to that Series or in any way materially affecting the rights of Shares of any other Series. Shareholders All references to Shares in this Declaration of Trust shall have no right be deemed to demand payment for their shares or to any other rights be Shares of dissenting shareholders in the event the Trust participates in and of any transaction which would give rise or all Series or classes thereof, as the context may require. All provisions herein relating to appraisal or dissenter's rights by a shareholder of a corporation organized under Chapter 156B the Trust shall apply equally to each Series of the General Laws Trust and each class thereof, except as the context otherwise requires. All Shares issued hereunder, including Shares issued in connection with a dividend in Shares or a split or reverse split of the Commonwealth of MassachusettsShares, or otherwiseshall be fully paid and non-assessable.

Appears in 2 contracts

Samples: Vanguard World Fund, Vanguard World Fund

Division of Beneficial Interest. The beneficial interest in the Trust shall at all times be divided into an unlimited number of Shares, without with a par value, but value of $ .001 per Share unless the Trustees shall designate another par value in connection with the issuance of Shares or with respect to outstanding Shares as provided in Section 5 of this Article III. The Trustees may authorize the division of Shares into separate Series and the division of Series into separate classes of Shares. The different Series shall be established and designated, and the variations in the relative rights and preferences as between the different Series shall be fixed and determined, by the Trustees. If no Series shall be established or if only one Series shall be established, the Shares shall have the authority from time rights and preferences provided for herein and in Article III, Section 6 hereof to time to issue Shares in one or more Series as they deem necessary or desirable (each of which Series of Shares shall represent the beneficial interest in a separate extent relevant and distinct sub-trust of the Trust)not otherwise provided for herein. Subject to the provisions of Section 6 of this Article III, each Share shall have voting rights as provided in Article V hereof, and holders of the Shares of any Series shall be entitled to receive dividends, when when, if and as declared with respect thereto in the manner provided in Article VI, Section 1 hereof. No Shares Share shall have any priority or preference over any other Share of the same Series with respect to dividends or distributions upon termination of the Trust or of such Series made pursuant to Article VIII48032, Section 4 hereofv0.4 3 otherwise. All dividends and distributions shall be made ratably among all Shareholders of a particular Series (or class) from the assets belonging held with respect to such Series according to the number of Shares of such Series (or class) held of record by each Shareholder such Shareholders on the record date for any dividend or on the date of termination, as the case may bedistribution. Shareholders shall have no preemptive or other right to subscribe to any additional Shares or other securities issued by the Trust or any Series. The Trustees may from time to time divide or combine the Shares of any particular a Series into a greater or lesser number of Shares of that such Series without thereby materially changing the proportionate beneficial interest of the such Shares of that Series in the assets belonging held with respect to that Series or in any way materially affecting the rights of Shares of any other Series. Shareholders All references to Shares in this Declaration of Trust shall have no right be deemed to demand payment for their shares or to any other rights be Shares of dissenting shareholders in the event the Trust participates in and of any transaction which would give rise or all Series or classes thereof, as the context may require. All provisions herein relating to appraisal or dissenter's rights by a shareholder of a corporation organized under Chapter 156B the Trust shall apply equally to each Series of the General Laws Trust and each class thereof, except as the context otherwise requires. All Shares issued hereunder, including Xxxxxx issued in connection with a dividend in Shares or a split or reverse split of the Commonwealth of MassachusettsShares, or otherwiseshall be fully paid and non-assessable.

Appears in 2 contracts

Samples: Vanguard Bond Index Funds, Vanguard Bond Index Funds

Division of Beneficial Interest. The beneficial interest in the Trust shall at all times be divided into an unlimited number of Shares, without with a par value, but value of $ .001 per Share unless the Trustees shall designate another par value in connection with the issuance of Shares or with respect to outstanding Shares as provided in Section 5 of this Article III. The Trustees may authorize the division of Shares into separate Series and the division of Series into separate classes of Shares. The different Series shall be established and designated, and the variations in the relative rights and preferences as between the different Series shall be fixed and determined, by the Trustees. If no Series shall be established or if only one Series shall be established, the Shares shall have the authority from time rights and preferences provided for herein and in Article III, Section 6 hereof to time to issue Shares in one or more Series as they deem necessary or desirable (each of which Series of Shares shall represent the beneficial interest in a separate extent relevant and distinct sub-trust of the Trust)not otherwise provided for herein. Subject to the provisions of Section 6 of this Article III, each Share shall have voting rights as provided in Article V hereof, and holders of the Shares of any Series shall be entitled to receive dividends, when when, if and as declared with respect thereto in the manner provided in Article VI, Section 1 hereof. No Shares Share shall have any priority or preference over any other Share of the same Series with respect to dividends or distributions upon termination of the Trust or of such Series made pursuant to Article VIII107935, Section 4 hereofv0.2 5 otherwise. All dividends and distributions shall be made ratably among all Shareholders of a particular Series (or class) from the assets belonging held with respect to such Series according to the number of Shares of such Series (or class) held of record by each Shareholder such Shareholders on the record date for any dividend or on the date of termination, as the case may bedistribution. Shareholders shall have no preemptive or other right to subscribe to any additional Shares or other securities issued by the Trust or any Series. The Trustees may from time to time divide or combine the Shares of any particular a Series into a greater or lesser number of Shares of that such Series without thereby materially changing the proportionate beneficial interest of the such Shares of that Series in the assets belonging held with respect to that Series or in any way materially affecting the rights of Shares of any other Series. Shareholders All references to Shares in this Declaration of Trust shall have no right be deemed to demand payment for their shares or to any other rights be Shares of dissenting shareholders in the event the Trust participates in and of any transaction which would give rise or all Series or classes thereof, as the context may require. All provisions herein relating to appraisal or dissenter's rights by a shareholder of a corporation organized under Chapter 156B the Trust shall apply equally to each Series of the General Laws Trust and each class thereof, except as the context otherwise requires. All Shares issued hereunder, including Shares issued in connection with a dividend in Shares or a split or reverse split of the Commonwealth of MassachusettsShares, or otherwiseshall be fully paid and non-assessable.

Appears in 2 contracts

Samples: Agreement and Declaration (Vanguard Trustees' Equity Fund), Amended and Restated (Vanguard Trustees' Equity Fund)

Division of Beneficial Interest. The beneficial interest in the Trust shall at all times be divided into an unlimited number of Shares, without with a par value, but value of $ .001 per Share unless the Trustees shall designate another par value in connection with the issuance of Shares or with respect to outstanding Shares as provided in Section 5 of this Article III. The Trustees may authorize the division of Shares into separate Series and the division of Series into separate classes of Shares. The different Series shall be established and designated, and the variations in the relative rights and preferences as between the different Series shall be fixed and determined, by the Trustees. If no Series shall be established or if only one Series shall be established, the Shares shall have the authority from time rights and preferences provided for herein and in Article III, Section 6 hereof to time to issue Shares in one or more Series as they deem necessary or desirable (each of which Series of Shares shall represent the beneficial interest in a separate extent relevant and distinct sub-trust of the Trust)not otherwise provided for herein. Subject to the provisions of Section 6 of this Article III, each Share shall have voting rights as provided in Article V hereof, and holders of the Shares of any Series shall be entitled to receive dividends, when when, if and as declared with respect thereto in the manner provided in Article VI, Section 1 hereof. No Shares Share shall have any priority or preference over any other Share of the same Series with respect to dividends or distributions upon termination of the Trust or of such Series made pursuant to Article VIII, Section 4 hereofotherwise. All dividends and distributions shall be made ratably among all Shareholders of a particular Series (or class) from the assets belonging held with respect to such Series according to the number of 48162, v0.4 3 Shares of such Series (or class) held of record by each Shareholder such Shareholders on the record date for any dividend or on the date of termination, as the case may bedistribution. Shareholders shall have no preemptive or other right to subscribe to any additional Shares or other securities issued by the Trust or any Series. The Trustees may from time to time divide or combine the Shares of any particular a Series into a greater or lesser number of Shares of that such Series without thereby materially changing the proportionate beneficial interest of the such Shares of that Series in the assets belonging held with respect to that Series or in any way materially affecting the rights of Shares of any other Series. Shareholders All references to Shares in this Declaration of Trust shall have no right be deemed to demand payment for their shares or to any other rights be Shares of dissenting shareholders in the event the Trust participates in and of any transaction which would give rise or all Series or classes thereof, as the context may require. All provisions herein relating to appraisal or dissenter's rights by a shareholder of a corporation organized under Chapter 156B the Trust shall apply equally to each Series of the General Laws Trust and each class thereof, except as the context otherwise requires. All Shares issued hereunder, including Xxxxxx issued in connection with a dividend in Shares or a split or reverse split of the Commonwealth of MassachusettsShares, or otherwiseshall be fully paid and non-assessable.

Appears in 2 contracts

Samples: Vanguard Municipal Bond Funds, Vanguard Municipal Bond Funds

Division of Beneficial Interest. The beneficial interest in the Trust shall at all times be divided into an unlimited number of Shares, without with a par value, but value of $ .001 per Share unless the Trustees shall designate another par value in connection with the issuance of Shares or with respect to outstanding Shares as provided in Section 5 of this Article III. The Trustees may authorize the division of Shares into separate Series and the division of Series into separate classes of Shares. The different Series shall be established and designated, and the variations in the relative rights and preferences as between the different Series shall be fixed and determined, by the Trustees. If no Series shall be established or if only one Series shall be established, the Shares shall have the authority from time rights and preferences provided for herein and in Article III, Section 6 hereof to time to issue Shares in one or more Series as they deem necessary or desirable (each of which Series of Shares shall represent the beneficial interest in a separate extent relevant and distinct sub-trust of the Trust)not otherwise provided for herein. Subject to the provisions of Section 6 of this Article III, each Share shall have voting rights as provided in Article V hereof, and holders of the Shares of any Series shall be entitled to receive dividends, when when, if and as declared with respect thereto in the manner provided in Article VI, Section 1 hereof. No Shares Share shall have any priority or preference over any other Share of the same Series with respect to dividends or distributions upon termination of the Trust or of such Series made pursuant to Article VIII, Section 4 hereofotherwise. All dividends 107935, v0.3 9 and distributions shall be made ratably among all Shareholders of a particular Series (or class) from the assets belonging held with respect to such Series according to the number of Shares of such Series (or class) held of record by each Shareholder such Shareholders on the record date for any dividend or on the date of termination, as the case may bedistribution. Shareholders shall have no preemptive or other right to subscribe to any additional Shares or other securities issued by the Trust or any Series. The Trustees may from time to time divide or combine the Shares of any particular a Series into a greater or lesser number of Shares of that such Series without thereby materially changing the proportionate beneficial interest of the such Shares of that Series in the assets belonging held with respect to that Series or in any way materially affecting the rights of Shares of any other Series. Shareholders All references to Shares in this Declaration of Trust shall have no right be deemed to demand payment for their shares or to any other rights be Shares of dissenting shareholders in the event the Trust participates in and of any transaction which would give rise or all Series or classes thereof, as the context may require. All provisions herein relating to appraisal or dissenter's rights by a shareholder of a corporation organized under Chapter 156B the Trust shall apply equally to each Series of the General Laws Trust and each class thereof, except as the context otherwise requires. All Shares issued hereunder, including Xxxxxx issued in connection with a dividend in Shares or a split or reverse split of the Commonwealth of MassachusettsShares, or otherwiseshall be fully paid and non-assessable.

Appears in 1 contract

Samples: Agreement and Declaration (Vanguard Trustees' Equity Fund)

Division of Beneficial Interest. The beneficial interest in the Trust shall at all times be divided into an unlimited number of Shares, without with no par value. The Trustees may authorize the division of Shares into separate Series and the division of Series into separate classes of Shares. The different Series shall be established and designated, but and the Trustees variations in the relative rights and preferences as between the different Series shall be fixed and determined, by the Trustees. If only one or no Series (or classes) shall be established, the Shares shall have the authority from time rights and preferences provided for herein and in this Article III, Section 6 hereof to time the extent relevant and not otherwise provided for herein, and all references to issue Shares in one or more Series (and classes) shall be construed (as they deem necessary or desirable (each of which Series of Shares shall represent the beneficial interest in a separate and distinct sub-trust of context may require) to refer to the Trust). Subject to the provisions of Section 6 of this Article III, each Share shall have voting rights as provided in Article V hereof, and holders of the Shares of any Series shall be entitled to receive dividendsdividends when, when if and as declared with respect thereto in the manner provided in Article VI, Section 1 hereof. No Shares Share shall have any priority or preference over any other Share of the same Series with respect to dividends or distributions upon termination of the Trust or of such Series made pursuant to Article VIII, Section 4 2 hereof. All dividends and distributions shall be made ratably among all Shareholders of a particular class of a particular Series and, if no classes, of a particular Series from the assets belonging held with respect to such Series according to the number of Shares of such class of such Series or of such Series held of record by each such Shareholder on the record date for any dividend or distribution or on the date of termination, as the case may be. Shareholders shall have no preemptive or other right to subscribe to any additional Shares or other securities issued by the Trust or any Series. The Trustees may from time to time divide or combine the Shares of any particular Series into a greater or lesser number of Shares of that Series without thereby materially changing the proportionate beneficial interest of the Shares of that Series in the assets belonging held with respect to that Series or in any way materially affecting the rights of Shares of any other Series. Shareholders shall have no right to demand payment for their shares or to any other rights of dissenting shareholders in the event the Trust participates in any transaction which would give rise to appraisal or dissenter's rights by a shareholder of a corporation organized under Chapter 156B of the General Laws of the Commonwealth of Massachusetts, or otherwise.

Appears in 1 contract

Samples: Agreement and Declaration (Kit Cole Investment Trust)

Division of Beneficial Interest. The beneficial interest in the Trust shall at all times be divided into an unlimited number of Shares, without with a par value, but value of $ .001 per Share unless the Trustees shall designate another par value in connection with the issuance of Shares or with respect to outstanding Shares as provided in Section 5 of this Article III. The Trustees may authorize the division of Shares into separate Series and the division of Series into separate classes of Shares. The different Series shall be established and designated, and the variations in the relative rights and preferences as between the different Series shall be fixed and determined, by the Trustees. If no Series shall be established or if only one Series shall be established, the Shares shall have the authority from time rights and preferences provided for herein and in Article III, Section 6 hereof to time to issue Shares in one or more Series as they deem necessary or desirable (each of which Series of Shares shall represent the beneficial interest in a separate extent relevant and distinct sub-trust of the Trust)not otherwise provided for herein. Subject to the provisions of Section 6 of this Article III, each Share shall have voting rights as provided in Article V hereof, and holders of the Shares of any Series shall be entitled to receive dividends, when when, if and as declared with respect thereto in the manner provided in Article VI, Section 1 hereof. No Shares Share shall have any priority or preference over any 108670, v0.2 7 other Share of the same Series with respect to dividends or distributions upon termination of the Trust or of such Series made pursuant to Article VIII, Section 4 hereofotherwise. All dividends and distributions shall be made ratably among all Shareholders of a particular Series (or class) from the assets belonging held with respect to such Series according to the number of Shares of such Series (or class) held of record by each Shareholder such Shareholders on the record date for any dividend or on the date of termination, as the case may bedistribution. Shareholders shall have no preemptive or other right to subscribe to any additional Shares or other securities issued by the Trust or any Series. The Trustees may from time to time divide or combine the Shares of any particular a Series into a greater or lesser number of Shares of that such Series without thereby materially changing the proportionate beneficial interest of the such Shares of that Series in the assets belonging held with respect to that Series or in any way materially affecting the rights of Shares of any other Series. Shareholders All references to Shares in this Declaration of Trust shall have no right be deemed to demand payment for their shares or to any other rights be Shares of dissenting shareholders in the event the Trust participates in and of any transaction which would give rise or all Series or classes thereof, as the context may require. All provisions herein relating to appraisal or dissenter's rights by a shareholder of a corporation organized under Chapter 156B the Trust shall apply equally to each Series of the General Laws Trust and each class thereof, except as the context otherwise requires. All Shares issued hereunder, including Shares issued in connection with a dividend in Shares or a split or reverse split of the Commonwealth of MassachusettsShares, or otherwiseshall be fully paid and non-assessable.

Appears in 1 contract

Samples: Vanguard Valley Forge Funds

Division of Beneficial Interest. The beneficial interest in the Trust shall at all times be divided into an unlimited number of Shares, without with a par value, but value of $ .001 per Share unless the Trustees shall designate another par value in connection with the issuance of Shares or with respect to outstanding Shares as provided in Section 5 of this Article III. The Trustees may authorize the division of Shares into separate Series and the division of Series into separate classes of Shares. The different Series shall be established and designated, and the variations in the relative rights and preferences as between the different Series shall be fixed and determined, by the Trustees. If no Series shall be established or if only one Series shall be established, the Shares shall have the authority from time rights and preferences provided for herein and in Article III, Section 6 hereof to time to issue Shares in one or more Series as they deem necessary or desirable (each of which Series of Shares shall represent the beneficial interest in a separate extent relevant and distinct sub-trust of the Trust)not otherwise provided for herein. Subject to the provisions of Section 6 of this Article III, each Share shall have voting rights as provided in Article V hereof, and holders of the Shares of any Series shall be 108656, v0.9 4 entitled to receive dividends, when when, if and as declared with respect thereto in the manner provided in Article VI, Section 1 hereof. No Shares Share shall have any priority or preference over any other Share of the same Series with respect to dividends or distributions upon termination of the Trust or of such Series made pursuant to Article VIII, Section 4 hereofotherwise. All dividends and distributions shall be made ratably among all Shareholders of a particular Series (or class) from the assets belonging held with respect to such Series according to the number of Shares of such Series (or class) held of record by each Shareholder such Shareholders on the record date for any dividend or on the date of termination, as the case may bedistribution. Shareholders shall have no preemptive or other right to subscribe to any additional Shares or other securities issued by the Trust or any Series. The Trustees may from time to time divide or combine the Shares of any particular a Series into a greater or lesser number of Shares of that such Series without thereby materially changing the proportionate beneficial interest of the such Shares of that Series in the assets belonging held with respect to that Series or in any way materially affecting the rights of Shares of any other Series. Shareholders All references to Shares in this Declaration of Trust shall have no right be deemed to demand payment for their shares or to any other rights be Shares of dissenting shareholders in the event the Trust participates in and of any transaction which would give rise or all Series or classes thereof, as the context may require. All provisions herein relating to appraisal or dissenter's rights by a shareholder of a corporation organized under Chapter 156B the Trust shall apply equally to each Series of the General Laws Trust and each class thereof, except as the context otherwise requires. All Shares issued hereunder, including Shares issued in connection with a dividend in Shares or a split or reverse split of the Commonwealth of MassachusettsShares, or otherwiseshall be fully paid and non-assessable.

Appears in 1 contract

Samples: Global Custody Agreement (Vanguard Malvern Funds)

Division of Beneficial Interest. The beneficial interest in the Trust shall at all times be divided into an unlimited number of Shares, without with a par value, but value of $ .001 per Share unless the Trustees shall designate another par value in connection with the issuance of Shares or with respect to outstanding Shares as provided in Section 5 of this Article III. The Trustees may authorize the division of Shares into separate Series and the division of Series into separate classes of Shares. The different Series shall be established and designated, and the variations in the relative rights and preferences as between the different Series shall be fixed and determined, by the Trustees. If no Series shall be established or if only one Series shall be established, the Shares shall have the authority from time rights and preferences provided for herein and in Article III, Section 6 hereof to time to issue Shares in one or more Series as they deem necessary or desirable (each of which Series of Shares shall represent the beneficial interest in a separate extent relevant and distinct sub-trust of the Trust)not otherwise provided for herein. Subject to the provisions of Section 6 of this Article III, each Share shall have voting rights as provided in Article V hereof, and holders of the Shares of any Series shall be 48152, v0.3 3 entitled to receive dividends, when when, if and as declared with respect thereto in the manner provided in Article VI, Section 1 hereof. No Shares Share shall have any priority or preference over any other Share of the same Series with respect to dividends or distributions upon termination of the Trust or of such Series made pursuant to Article VIII, Section 4 hereofotherwise. All dividends and distributions shall be made ratably among all Shareholders of a particular Series (or class) from the assets belonging held with respect to such Series according to the number of Shares of such Series (or class) held of record by each Shareholder such Shareholders on the record date for any dividend or on the date of termination, as the case may bedistribution. Shareholders shall have no preemptive or other right to subscribe to any additional Shares or other securities issued by the Trust or any Series. The Trustees may from time to time divide or combine the Shares of any particular a Series into a greater or lesser number of Shares of that such Series without thereby materially changing the proportionate beneficial interest of the such Shares of that Series in the assets belonging held with respect to that Series or in any way materially affecting the rights of Shares of any other Series. Shareholders All references to Shares in this Declaration of Trust shall have no right be deemed to demand payment for their shares or to any other rights be Shares of dissenting shareholders in the event the Trust participates in and of any transaction which would give rise or all Series or classes thereof, as the context may require. All provisions herein relating to appraisal or dissenter's rights by a shareholder of a corporation organized under Chapter 156B the Trust shall apply equally to each Series of the General Laws Trust and each class thereof, except as the context otherwise requires. All Shares issued hereunder, including Shares issued in connection with a dividend in Shares or a split or reverse split of the Commonwealth of MassachusettsShares, or otherwiseshall be fully paid and non-assessable.

Appears in 1 contract

Samples: Agreement and Declaration (Vanguard Fixed Income Securities Funds)

Division of Beneficial Interest. The beneficial interest in the Trust shall at all times be divided into an unlimited number of Shares, without with a par value, but value of $ .001 per Share unless the Trustees shall designate another par value in connection with the issuance of Shares or with respect to outstanding Shares as provided in Section 5 of this Article III. The Trustees may authorize the division of Shares into separate Series and the division of Series into separate classes of Shares. The different Series shall be established and designated, and the variations in the relative rights and preferences as between the different Series shall be fixed and determined, by the Trustees. If no Series shall be established or if only one Series shall be established, the Shares shall have the authority from time rights and preferences provided for herein and in Article III, Section 6 hereof to time to issue Shares in one or more Series as they deem necessary or desirable (each of which Series of Shares shall represent the beneficial interest in a separate extent relevant and distinct sub-trust of the Trust)not otherwise provided for herein. Subject to the provisions of Section 6 of this Article III, each Share shall have voting rights as provided in Article V hereof, and holders of the Shares of any Series shall be entitled to receive dividends, when when, if and as declared with respect thereto in the manner provided in Article VI, Section 1 hereof. No Shares Share shall have any priority or preference over any 107933 other Share of the same Series with respect to dividends or distributions upon termination of the Trust or of such Series made pursuant to Article VIII, Section 4 hereofotherwise. All dividends and distributions shall be made ratably among all Shareholders of a particular Series (or class) from the assets belonging held with respect to such Series according to the number of Shares of such Series (or class) held of record by each Shareholder such Shareholders on the record date for any dividend or on the date of termination, as the case may bedistribution. Shareholders shall have no preemptive or other right to subscribe to any additional Shares or other securities issued by the Trust or any Series. The Trustees may from time to time divide or combine the Shares of any particular a Series into a greater or lesser number of Shares of that such Series without thereby materially changing the proportionate beneficial interest of the such Shares of that Series in the assets belonging held with respect to that Series or in any way materially affecting the rights of Shares of any other Series. Shareholders All references to Shares in this Declaration of Trust shall have no right be deemed to demand payment for their shares or to any other rights be Shares of dissenting shareholders in the event the Trust participates in and of any transaction which would give rise or all Series or classes thereof, as the context may require. All provisions herein relating to appraisal or dissenter's rights by a shareholder of a corporation organized under Chapter 156B the Trust shall apply equally to each Series of the General Laws Trust and each class thereof, except as the context otherwise requires. All Shares issued hereunder, including Shares issued in connection with a dividend in Shares or a split or reverse split of the Commonwealth of MassachusettsShares, or otherwiseshall be fully paid and non-assessable.

Appears in 1 contract

Samples: Equity Index Funds (Vanguard International Equity Index Funds)

Division of Beneficial Interest. The beneficial interest in the Trust shall at all times be divided into an unlimited number of Shares, without with a par value, but value of $ .001 per Share unless the Trustees shall designate another par value in connection with the issuance of Shares or with respect to outstanding Shares as provided in Section 5 of this Article III. The Trustees may authorize the division of Shares into separate Series and the division of Series into separate classes of Shares. The different Series shall be established and designated, and the variations in the relative rights and preferences as between the different Series shall be fixed and determined, by the Trustees. If no Series shall be established or if only one Series shall be established, the Shares shall have the authority from time rights and preferences provided for herein and in Article III, Section 6 hereof to time to issue Shares in one or more Series as they deem necessary or desirable (each of which Series of Shares shall represent the beneficial interest in a separate extent relevant and distinct sub-trust of the Trust)not otherwise provided for herein. Subject to the provisions of Section 6 of this Article III, each Share shall have voting rights as provided in Article V hereof, and holders of the Shares of any Series shall be entitled to receive dividends, when when, if and as declared with respect thereto in the manner provided in Article VI, Section 1 hereof. No Shares Share shall have any priority or preference over any other Share of the same Series with respect to dividends or distributions upon termination of the Trust or of such Series made pursuant to Article VIII, Section 4 hereofotherwise. All dividends and distributions shall be made ratably among all Shareholders of a particular Series (or class) from the assets belonging held with respect to such Series according to the number of Shares of such Series (or class) held of record by each Shareholder such Shareholders on the record date for any dividend or on the date of termination, as the case may bedistribution. Shareholders shall have no preemptive or other right to subscribe to any additional Shares or other securities issued by the Trust or any Series. The Trustees may from time to time divide or combine the Shares of any particular a Series into a greater or lesser number of Shares of that such Series without thereby materially changing the proportionate beneficial interest of the such Shares of that Series in the assets belonging held with respect to that Series or in any way materially affecting the rights of Shares of any other Series. Shareholders All references to Shares in this Declaration of Trust shall have no right be deemed to demand payment for their shares or to any other rights be Shares of dissenting shareholders in the event the Trust participates in and of any transaction which would give rise or all Series or classes thereof, as the context may require. All provisions herein relating to appraisal or dissenter's rights by a shareholder of a corporation organized under Chapter 156B the Trust shall apply equally to each Series of the General Laws of Trust and each class thereof, except as the Commonwealth of Massachusetts, or otherwisecontext otherwise requires.

Appears in 1 contract

Samples: Agreement and Declaration (Vanguard Charlotte Funds)

Division of Beneficial Interest. The beneficial interest in the Trust shall at all times be divided into an unlimited number of Shares, without with a par value, but value of $ .001 per Share unless the Trustees shall designate another par value in connection with the issuance of Shares or with respect to outstanding Shares as provided in Section 5 of this Article III. The Trustees may authorize the division of Shares into separate Series and the division of Series into separate classes of Shares. The different Series shall be established and designated, and the variations in the relative rights and preferences as between the different Series shall be fixed and determined, by the Trustees. If no Series shall be established or if only one Series shall be established, the Shares shall have the authority from time rights and preferences provided for herein and in Article III, Section 6 hereof to time to issue Shares in one or more Series as they deem necessary or desirable (each of which Series of Shares shall represent the beneficial interest in a separate extent relevant and distinct sub-trust of the Trust)not otherwise provided for herein. Subject to the provisions of Section 6 of this Article III, each Share shall have voting rights as provided in Article V hereof, and holders of the Shares of any Series shall be entitled to receive dividends, when when, if and as declared with respect thereto in the manner provided in Article VI, Section 1 hereof. No Shares Share shall have any priority or preference over any other Share of the same Series with respect to dividends or distributions upon termination of the Trust or of such Series made pursuant to Article VIII, Section 4 hereofotherwise. All dividends and distributions shall be made ratably among all Shareholders of a particular Series (or class) from the assets belonging held with respect to such Series according to the number of Shares of such Series (or class) held of record by each Shareholder such Shareholders on the record date for any dividend or on the date of termination, as the case may bedistribution. Shareholders shall have no preemptive or other right to subscribe to any additional Shares or other securities issued by the Trust or any Series. The Trustees may from time to time divide or combine the Shares of any particular a Series into a greater or lesser number of Shares of that such Series without thereby materially changing the proportionate beneficial interest of the such Shares of that Series in the assets belonging held with respect to that Series or in any way materially affecting the rights of Shares of any other Series. Shareholders 3 All references to Shares in this Declaration of Trust shall have no right be deemed to demand payment for their shares or to any other rights be Shares of dissenting shareholders in the event the Trust participates in and of any transaction which would give rise or all Series or classes thereof, as the context may require. All provisions herein relating to appraisal or dissenter's rights by a shareholder of a corporation organized under Chapter 156B the Trust shall apply equally to each Series of the General Laws Trust and each class thereof, except as the context otherwise requires. All Shares issued hereunder, including Shares issued in connection with a dividend in Shares or a split or reverse split of the Commonwealth of MassachusettsShares, or otherwiseshall be fully paid and non-assessable.

Appears in 1 contract

Samples: Agreement and Declaration (Vanguard Municipal Bond Funds)

Division of Beneficial Interest. The beneficial interest in the Trust shall at all times be divided into an unlimited number of Shares, without with a par value, but value of $ .001 per Share unless the Trustees shall designate another par value in connection with the issuance of Shares or with respect to outstanding Shares as provided in Section 5 of this Article III. The Trustees may authorize the division of Shares into separate Series and the division of Series into separate classes of Shares. The different Series shall be established and designated, and the variations in the relative rights and preferences as between the different Series shall be fixed and determined, by the Trustees. If no Series shall be established or if only one Series shall be established, the Shares shall have the authority from time rights and preferences provided for herein and in Article III, Section 6 hereof to time to issue Shares in one or more Series as they deem necessary or desirable (each of which Series of Shares shall represent the beneficial interest in a separate extent relevant and distinct sub-trust of the Trust)not otherwise provided for herein. Subject to the provisions of Section 6 of this Article III, each Share shall have voting rights as provided in Article V hereof, and holders of the Shares of any Series shall be 108671, v0.4 4 entitled to receive dividends, when when, if and as declared with respect thereto in the manner provided in Article VI, Section 1 hereof. No Shares Share shall have any priority or preference over any other Share of the same Series with respect to dividends or distributions upon termination of the Trust or of such Series made pursuant to Article VIII, Section 4 hereofotherwise. All dividends and distributions shall be made ratably among all Shareholders of a particular Series (or class) from the assets belonging held with respect to such Series according to the number of Shares of such Series (or class) held of record by each Shareholder such Shareholders on the record date for any dividend or on the date of termination, as the case may bedistribution. Shareholders shall have no preemptive or other right to subscribe to any additional Shares or other securities issued by the Trust or any Series. The Trustees may from time to time divide or combine the Shares of any particular a Series into a greater or lesser number of Shares of that such Series without thereby materially changing the proportionate beneficial interest of the such Shares of that Series in the assets belonging held with respect to that Series or in any way materially affecting the rights of Shares of any other Series. Shareholders All references to Shares in this Declaration of Trust shall have no right be deemed to demand payment for their shares or to any other rights be Shares of dissenting shareholders in the event the Trust participates in and of any transaction which would give rise or all Series or classes thereof, as the context may require. All provisions herein relating to appraisal or dissenter's rights by a shareholder of a corporation organized under Chapter 156B the Trust shall apply equally to each Series of the General Laws Trust and each class thereof, except as the context otherwise requires. All Shares issued hereunder, including Shares issued in connection with a dividend in Shares or a split or reverse split of the Commonwealth of MassachusettsShares, or otherwiseshall be fully paid and non-assessable.

Appears in 1 contract

Samples: Agreement and Declaration (Vanguard Tax-Managed Funds)

AutoNDA by SimpleDocs

Division of Beneficial Interest. The beneficial interest in the Trust shall at all times be divided into an unlimited number of Shares, without with a par value, but value of $ .001 per Share unless the Trustees shall designate another par value in connection with the issuance of Shares or with respect to outstanding Shares as provided in Section 5 of this Article III. The Trustees may authorize the division of Shares into separate Series and the division of Series into separate classes of Shares. The different Series shall be established and designated, and the variations in the relative rights and preferences as between the different Series shall be fixed and determined, by the Trustees. If no Series shall be established or if only one Series shall be established, the Shares shall have the authority from time rights and preferences provided for herein and in Article III, Section 6 hereof to time to issue Shares in one or more Series as they deem necessary or desirable (each of which Series of Shares shall represent the beneficial interest in a separate extent relevant and distinct sub-trust of the Trust)not otherwise provided for herein. Subject to the provisions of Section 6 of this Article III, each Share shall have voting rights as provided in Article V hereof, and holders of the Shares of any Series shall be entitled to receive dividends, when when, if and as declared with respect thereto in the manner provided in Article VI, Section 1 hereof. No Shares Share shall have any priority or preference over any 48160, v0.2 5 other Share of the same Series with respect to dividends or distributions upon termination of the Trust or of such Series made pursuant to Article VIII, Section 4 hereofotherwise. All dividends and distributions shall be made ratably among all Shareholders of a particular Series (or class) from the assets belonging held with respect to such Series according to the number of Shares of such Series (or class) held of record by each Shareholder such Shareholders on the record date for any dividend or on the date of termination, as the case may bedistribution. Shareholders shall have no preemptive or other right to subscribe to any additional Shares or other securities issued by the Trust or any Series. The Trustees may from time to time divide or combine the Shares of any particular a Series into a greater or lesser number of Shares of that such Series without thereby materially changing the proportionate beneficial interest of the such Shares of that Series in the assets belonging held with respect to that Series or in any way materially affecting the rights of Shares of any other Series. Shareholders All references to Shares in this Declaration of Trust shall have no right be deemed to demand payment for their shares or to any other rights be Shares of dissenting shareholders in the event the Trust participates in and of any transaction which would give rise or all Series or classes thereof, as the context may require. All provisions herein relating to appraisal or dissenter's rights by a shareholder of a corporation organized under Chapter 156B the Trust shall apply equally to each Series of the General Laws Trust and each class thereof, except as the context otherwise requires. All Shares issued hereunder, including Xxxxxx issued in connection with a dividend in Shares or a split or reverse split of the Commonwealth of MassachusettsShares, or otherwiseshall be fully paid and non-assessable.

Appears in 1 contract

Samples: Vanguard Money Market Reserves

Division of Beneficial Interest. The beneficial interest in the Trust shall at all times be divided into an unlimited number of Shares, without with a par value, but value of $ .001 per Share unless the Trustees shall designate another par value in connection with the issuance of Shares or with respect to outstanding Shares as provided in Section 5 of this Article III. The Trustees may authorize the division of Shares into separate Series and the division of Series into separate classes of Shares. The different Series shall be established and designated, and the variations in the relative rights and preferences as between the different Series shall be fixed and determined, by the Trustees. If no Series shall be established or if only one Series shall be established, the Shares shall have the authority from time rights and preferences provided for herein and in Article III, Section 6 hereof to time to issue Shares in one or more Series as they deem necessary or desirable (each of which Series of Shares shall represent the beneficial interest in a separate extent relevant and distinct sub-trust of the Trust)not otherwise provided for herein. Subject to the provisions of Section 6 of this Article III, each Share shall have voting rights as provided in Article V hereof, and holders of the Shares of any Series shall be entitled to receive dividends, when when, if and as declared with respect thereto in the manner 108140, v0.4 3 provided in Article VI, Section 1 hereof. No Shares Share shall have any priority or preference over any other Share of the same Series with respect to dividends or distributions upon termination of the Trust or of such Series made pursuant to Article VIII, Section 4 hereofotherwise. All dividends and distributions shall be made ratably among all Shareholders of a particular Series (or class) from the assets belonging held with respect to such Series according to the number of Shares of such Series (or class) held of record by each Shareholder such Shareholders on the record date for any dividend or on the date of termination, as the case may bedistribution. Shareholders shall have no preemptive or other right to subscribe to any additional Shares or other securities issued by the Trust or any Series. The Trustees may from time to time divide or combine the Shares of any particular a Series into a greater or lesser number of Shares of that such Series without thereby materially changing the proportionate beneficial interest of the such Shares of that Series in the assets belonging held with respect to that Series or in any way materially affecting the rights of Shares of any other Series. Shareholders All references to Shares in this Declaration of Trust shall have no right be deemed to demand payment for their shares or to any other rights be Shares of dissenting shareholders in the event the Trust participates in and of any transaction which would give rise or all Series or classes thereof, as the context may require. All provisions herein relating to appraisal or dissenter's rights by a shareholder of a corporation organized under Chapter 156B the Trust shall apply equally to each Series of the General Laws Trust and each class thereof, except as the context otherwise requires. All Shares issued hereunder, including Shares issued in connection with a dividend in Shares or a split or reverse split of the Commonwealth of MassachusettsShares, or otherwiseshall be fully paid and non-assessable.

Appears in 1 contract

Samples: Agreement and Declaration of Trust (Vanguard Variable Insurance Funds)

Division of Beneficial Interest. The beneficial interest in the Trust shall at all times be divided into an unlimited number of Shares, without with a par value, but value of $ .001 per Share unless the Trustees shall designate another par value in connection with the issuance of Shares or with respect to outstanding Shares as provided in Section 5 of this Article III. The Trustees may authorize the division of Shares into separate Series and the division of Series into separate classes of Shares. The different Series shall be established and designated, and the variations in the relative rights and preferences as between the different Series shall be fixed and determined, by the Trustees. If no Series shall be established or if only one Series shall be established, the Shares shall have the authority from time rights and preferences provided for herein and in Article III, Section 6 hereof to time to issue Shares in one or more Series as they deem necessary or desirable (each of which Series of Shares shall represent the beneficial interest in a separate extent relevant and distinct sub-trust of the Trust)not otherwise provided for herein. Subject to the provisions of Section 6 of this Article III, each Share shall have voting rights as provided in Article V hereof, and holders of the Shares of any Series shall be entitled to receive dividends, when when, if and as declared with respect thereto in the manner provided in Article VI, Section 1 hereof. No Shares Share shall have any priority or preference over any other Share of the same Series with respect to dividends or distributions upon termination of the Trust or of such Series made pursuant to Article VIII, Section 4 hereofotherwise. All dividends and distributions shall be made ratably among all Shareholders of a particular Series (or class) from the assets belonging held with respect to such Series according to the number of Shares of such Series (or class) held of record by each Shareholder such Shareholders on the record date for any dividend or on the date of termination, as the case may bedistribution. Shareholders shall have no preemptive or other right to subscribe to any additional Shares or other securities issued by the Trust or any Series. The Trustees may from time to time divide or combine the Shares of any particular a Series into a greater or lesser number of Shares of that such Series without thereby materially changing the proportionate beneficial interest of the such Shares of that Series in the assets belonging held with respect to that Series or in any way materially affecting the rights of Shares of any other Series. Shareholders All references to Shares in this Declaration of Trust shall have no right be deemed to demand payment for their shares or to any other rights be Shares of dissenting shareholders in the event the Trust participates in and of any transaction which would give rise or all Series or classes thereof, as the context may require. All provisions herein relating to appraisal or dissenter's rights by a shareholder of a corporation organized under Chapter 156B the Trust shall apply equally to each Series of the General Laws Trust and each class thereof, except as the context otherwise requires. All Shares issued hereunder, including Shares issued in connection with a 0251735, v0.5 4 dividend in Shares or a split or reverse split of the Commonwealth of MassachusettsShares, or otherwiseshall be fully paid and non-assessable.

Appears in 1 contract

Samples: Agreement and Declaration (Vanguard Charlotte Funds)

Division of Beneficial Interest. The beneficial interest in the Trust shall at all times be divided into an unlimited number of Shares, without with such par value, but value as shall be determined by the Trustees shall have the authority from time to time. The Trustees may authorize the division of Shares into separate Series and the division of Series into separate Classes of Shares. The different Series and Classes shall be established and designated, and the variations in the relative rights and preferences as between the different Series and Classes shall be fixed and determined, by the Trustees from time to issue Shares in one or more Series as they deem necessary or desirable (each of which Series of Shares shall represent the beneficial interest in a separate and distinct sub-trust of the Trust)time. Subject to the provisions of Section 6 of this Article III, each Share shall have voting rights as provided in Article V hereof, and holders of the Shares of any Series shall be entitled to receive dividendsdividends and distributions when, when if and as declared with respect thereto in the manner provided in Article VI, Section 1 hereof. No Shares shall have any priority or preference over any other Share of the same Series and Class with respect to dividends or distributions upon termination of the Trust or of such Series or such Class made pursuant to Article VIII, Section 4 2 hereof. All dividends and distributions shall be made ratably among all Shareholders of a particular Class of a particular Series and, if no Classes, of a particular Series from the assets belonging held with respect to such Series according to the number of Shares of such Class of such Series or of such Series held of record by each Shareholder such Shareholders on the record date for any dividend or distribution or on the date of termination, as the case may be. Shareholders shall have no preemptive or other right to subscribe to any additional Shares or other securities issued by the Trust or any Series, except as the Trustees in their sole discretion shall authorize, although the Trustees may provide for the automatic conversion of one Class of Shares of a Series into another Class of Shares of the same Series upon the occurrence of certain specific events. The Trustees may from time to time divide or combine the Shares of any particular Series or Class into a greater or lesser number of Shares of that Series or Class without thereby materially changing the proportionate beneficial interest of the Shares of that Series or Class in the assets belonging held with respect to that Series or in any way materially affecting the rights of Shares of any other Series. Shareholders shall have no right to demand payment for their shares Series or to any other rights of dissenting shareholders in the event the Trust participates in any transaction which would give rise to appraisal or dissenter's rights by a shareholder of a corporation organized under Chapter 156B of the General Laws of the Commonwealth of Massachusetts, or otherwiseClass.

Appears in 1 contract

Samples: Agreement and Declaration of Trust (City National Rochdale Funds)

Division of Beneficial Interest. The beneficial interest in the Trust shall at all times be divided into an unlimited number of Shares, without with a par value, but value of $ .001 per Share unless the Trustees shall designate another par value in connection with the issuance of Shares or with respect to outstanding Shares as provided in Section 5 of this Article III. The Trustees may authorize the division of Shares into separate Series and the division of Series into separate classes of Shares. The different Series shall be established and designated, and the variations in the relative rights and preferences as between the different Series shall be fixed and determined, by the Trustees. If no Series shall be established or if only one Series shall be established, the Shares shall have the authority from time rights and preferences provided for herein and in Article III, Section 6 hereof to time to issue Shares in one or more Series as they deem necessary or desirable (each of which Series of Shares shall represent the beneficial interest in a separate extent relevant and distinct sub-trust of the Trust)not otherwise provided for herein. Subject to the provisions of Section 6 of this Article III, each Share shall have voting rights as provided in Article V hereof, and holders of the Shares of any Series shall be entitled to receive dividends, when when, if and as declared with respect thereto in the manner provided in Article VI, Section 1 hereof. No Shares Share shall have any priority or preference over any other Share of the same Series with respect to dividends or distributions upon termination of the Trust or of such Series made pursuant to Article VIII108134, Section 4 hereofv0.7 3 otherwise. All dividends and distributions shall be made ratably among all Shareholders of a particular Series (or class) from the assets belonging held with respect to such Series according to the number of Shares of such Series (or class) held of record by each Shareholder such Shareholders on the record date for any dividend or on the date of termination, as the case may bedistribution. Shareholders shall have no preemptive or other right to subscribe to any additional Shares or other securities issued by the Trust or any Series. The Trustees may from time to time divide or combine the Shares of any particular a Series into a greater or lesser number of Shares of that such Series without thereby materially changing the proportionate beneficial interest of the such Shares of that Series in the assets belonging held with respect to that Series or in any way materially affecting the rights of Shares of any other Series. Shareholders All references to Shares in this Declaration of Trust shall have no right be deemed to demand payment for their shares or to any other rights be Shares of dissenting shareholders in the event the Trust participates in and of any transaction which would give rise or all Series or classes thereof, as the context may require. All provisions herein relating to appraisal or dissenter's rights by a shareholder of a corporation organized under Chapter 156B the Trust shall apply equally to each Series of the General Laws Trust and each class thereof, except as the context otherwise requires. All Shares issued hereunder, including Xxxxxx issued in connection with a dividend in Shares or a split or reverse split of the Commonwealth of MassachusettsShares, or otherwiseshall be fully paid and non-assessable.

Appears in 1 contract

Samples: Vanguard Chester Funds

Division of Beneficial Interest. The beneficial interest in the Trust shall at all times be divided into an unlimited number of Shares, without with a par value, but value of $ .001 per Share unless the Trustees shall designate another par value in connection with the issuance of Shares or with respect to outstanding Shares as provided in Section 5 of this Article III. The Trustees may authorize the division of Shares into separate Series and the division of Series into separate classes of Shares. The different Series shall be established and designated, and the variations in the relative rights and preferences as between the different Series shall be fixed and determined, by the Trustees. If no Series shall be established or if only one Series shall be established, the Shares shall have the authority from time rights and preferences provided for herein and in Article III, Section 6 hereof to time to issue Shares in one or more Series as they deem necessary or desirable (each of which Series of Shares shall represent the beneficial interest in a separate extent relevant and distinct sub-trust of the Trust)not otherwise provided for herein. Subject to the provisions of Section 6 of this Article III, each Share shall have voting rights as provided in Article V hereof, and holders of the Shares of any Series shall be entitled to receive dividends, when when, if and as declared with respect thereto in the manner provided in Article VI, Section 1 hereof. No Shares Share shall have any priority or preference over any other Share of the same Series with respect to dividends or distributions upon termination of the Trust or of such Series made pursuant to Article VIII, Section 4 hereofotherwise. All dividends and distributions shall be made ratably among all Shareholders of a particular 107933, v0.5 Series (or class) from the assets belonging held with respect to such Series according to the number of Shares of such Series (or class) held of record by each Shareholder such Shareholders on the record date for any dividend or on the date of termination, as the case may bedistribution. Shareholders shall have no preemptive or other right to subscribe to any additional Shares or other securities issued by the Trust or any Series. The Trustees may from time to time divide or combine the Shares of any particular a Series into a greater or lesser number of Shares of that such Series without thereby materially changing the proportionate beneficial interest of the such Shares of that Series in the assets belonging held with respect to that Series or in any way materially affecting the rights of Shares of any other Series. Shareholders All references to Shares in this Declaration of Trust shall have no right be deemed to demand payment for their shares or to any other rights be Shares of dissenting shareholders in the event the Trust participates in and of any transaction which would give rise or all Series or classes thereof, as the context may require. All provisions herein relating to appraisal or dissenter's rights by a shareholder of a corporation organized under Chapter 156B the Trust shall apply equally to each Series of the General Laws Trust and each class thereof, except as the context otherwise requires. All Shares issued hereunder, including Shares issued in connection with a dividend in Shares or a split or reverse split of the Commonwealth of MassachusettsShares, or otherwiseshall be fully paid and non-assessable.

Appears in 1 contract

Samples: Instrument (Vanguard International Equity Index Funds)

Division of Beneficial Interest. The beneficial interest in the Trust shall at all times be divided into an unlimited number of Shares, without with a par value, but value of $ .001 per Share unless the Trustees shall designate another par value in connection with the issuance of Shares or with respect to outstanding Shares as provided in Section 5 of this Article III. The Trustees may authorize the division of Shares into separate Series and the division of Series into separate classes of Shares. The different Series shall be established and designated, and the variations in the relative rights and preferences as between the different Series shall be fixed and determined, by the Trustees. If no Series shall be established or if only one Series shall be established, the Shares shall have the authority from time rights and preferences provided for herein and in Article III, Section 6 hereof to time to issue Shares in one or more Series as they deem necessary or desirable (each of which Series of Shares shall represent the beneficial interest in a separate extent relevant and distinct sub-trust of the Trust)not otherwise provided for herein. Subject to the provisions of Section 6 of this Article III, each Share shall have voting rights as provided in Article V hereof, and holders of the Shares of any Series shall be entitled to receive dividends, when when, if and as declared with respect thereto in the manner 48679, v0.7 3 provided in Article VI, Section 1 hereof. No Shares Share shall have any priority or preference over any other Share of the same Series with respect to dividends or distributions upon termination of the Trust or of such Series made pursuant to Article VIII, Section 4 hereofotherwise. All dividends and distributions shall be made ratably among all Shareholders of a particular Series (or class) from the assets belonging held with respect to such Series according to the number of Shares of such Series (or class) held of record by each Shareholder such Shareholders on the record date for any dividend or on the date of termination, as the case may bedistribution. Shareholders shall have no preemptive or other right to subscribe to any additional Shares or other securities issued by the Trust or any Series. The Trustees may from time to time divide or combine the Shares of any particular a Series into a greater or lesser number of Shares of that such Series without thereby materially changing the proportionate beneficial interest of the such Shares of that Series in the assets belonging held with respect to that Series or in any way materially affecting the rights of Shares of any other Series. Shareholders All references to Shares in this Declaration of Trust shall have no right be deemed to demand payment for their shares or to any other rights be Shares of dissenting shareholders in the event the Trust participates in and of any transaction which would give rise or all Series or classes thereof, as the context may require. All provisions herein relating to appraisal or dissenter's rights by a shareholder of a corporation organized under Chapter 156B the Trust shall apply equally to each Series of the General Laws Trust and each class thereof, except as the context otherwise requires. All Shares issued hereunder, including Shares issued in connection with a dividend in Shares or a split or reverse split of the Commonwealth of MassachusettsShares, or otherwiseshall be fully paid and non-assessable.

Appears in 1 contract

Samples: Agreement and Declaration (Vanguard Scottsdale Funds)

Division of Beneficial Interest. The beneficial interest in the Trust shall at all times be divided into an unlimited number of Shares, without with a par value, but value of $ .001 per Share unless the Trustees shall designate another par value in connection with the issuance of Shares or with respect to outstanding Shares as provided in Section 5 of this Article III. The Trustees may authorize the division of Shares into separate Series and the division of Series into separate classes of Shares. The different Series shall be established and designated, and the variations in the relative rights and preferences as between the different Series shall be fixed and determined, by the Trustees. If no Series shall be established or if only one Series shall be established, the Shares shall have the authority from time rights and preferences provided for herein and in Article III, Section 6 hereof to time to issue Shares in one or more Series as they deem necessary or desirable (each of which Series of Shares shall represent the beneficial interest in a separate extent relevant and distinct sub-trust of the Trust)not otherwise provided for herein. Subject to the provisions of Section 6 of this Article III, each Share shall have voting rights as provided in Article V hereof, and holders of the Shares of any Series shall be entitled to receive dividends, when when, if and as declared with respect thereto in the manner 108671, v0.6 4 provided in Article VI, Section 1 hereof. No Shares Share shall have any priority or preference over any other Share of the same Series with respect to dividends or distributions upon termination of the Trust or of such Series made pursuant to Article VIII, Section 4 hereofotherwise. All dividends and distributions shall be made ratably among all Shareholders of a particular Series (or class) from the assets belonging held with respect to such Series according to the number of Shares of such Series (or class) held of record by each Shareholder such Shareholders on the record date for any dividend or on the date of termination, as the case may bedistribution. Shareholders shall have no preemptive or other right to subscribe to any additional Shares or other securities issued by the Trust or any Series. The Trustees may from time to time divide or combine the Shares of any particular a Series into a greater or lesser number of Shares of that such Series without thereby materially changing the proportionate beneficial interest of the such Shares of that Series in the assets belonging held with respect to that Series or in any way materially affecting the rights of Shares of any other Series. Shareholders All references to Shares in this Declaration of Trust shall have no right be deemed to demand payment for their shares or to any other rights be Shares of dissenting shareholders in the event the Trust participates in and of any transaction which would give rise or all Series or classes thereof, as the context may require. All provisions herein relating to appraisal or dissenter's rights by a shareholder of a corporation organized under Chapter 156B the Trust shall apply equally to each Series of the General Laws Trust and each class thereof, except as the context otherwise requires. All Shares issued hereunder, including Shares issued in connection with a dividend in Shares or a split or reverse split of the Commonwealth of MassachusettsShares, or otherwiseshall be fully paid and non-assessable.

Appears in 1 contract

Samples: Agreement and Declaration (Vanguard Tax-Managed Funds)

Division of Beneficial Interest. The beneficial interest in the Trust shall at all times be divided into an unlimited number of Shares, without with a par value, but value of $ .001 per Share unless the Trustees shall designate another par value in connection with the issuance of Shares or with respect to outstanding Shares as provided in Section 5 of this Article III. The Trustees may authorize the division of Shares into separate Series and the division of Series into separate classes of Shares. The different Series shall be established and designated, and the variations in the relative rights and preferences as between the different Series shall be fixed and determined, by the Trustees. If no Series shall be established or if only one Series shall be established, the Shares shall have the authority from time rights and preferences provided for herein and in Article III, Section 6 hereof to time to issue Shares in one or more Series as they deem necessary or desirable (each of which Series of Shares shall represent the beneficial interest in a separate extent relevant and distinct sub-trust of the Trust)not otherwise provided for herein. Subject to the provisions of Section 6 of this Article III, each Share shall have voting rights as provided in Article V hereof, and holders of the Shares of any Series shall be entitled to receive dividends, when when, if and as declared with respect thereto in the manner provided in Article VI, Section 1 hereof. No Shares Share shall have any priority or preference over any other Share of the same Series with respect to dividends or distributions upon termination of the Trust or of such Series made pursuant to Article VIII, Section 4 hereofotherwise. All dividends and distributions shall be made ratably among all Shareholders of a particular Series (or class) from the assets belonging held with respect to such Series according to the number of Shares of such Series (or 107932, v0.8 3 class) held of record by each Shareholder such Shareholders on the record date for any dividend or on the date of termination, as the case may bedistribution. Shareholders shall have no preemptive or other right to subscribe to any additional Shares or other securities issued by the Trust or any Series. The Trustees may from time to time divide or combine the Shares of any particular a Series into a greater or lesser number of Shares of that such Series without thereby materially changing the proportionate beneficial interest of the such Shares of that Series in the assets belonging held with respect to that Series or in any way materially affecting the rights of Shares of any other Series. Shareholders All references to Shares in this Declaration of Trust shall have no right be deemed to demand payment for their shares or to any other rights be Shares of dissenting shareholders in the event the Trust participates in and of any transaction which would give rise or all Series or classes thereof, as the context may require. All provisions herein relating to appraisal or dissenter's rights by a shareholder of a corporation organized under Chapter 156B the Trust shall apply equally to each Series of the General Laws Trust and each class thereof, except as the context otherwise requires. All Shares issued hereunder, including Xxxxxx issued in connection with a dividend in Shares or a split or reverse split of the Commonwealth of MassachusettsShares, or otherwiseshall be fully paid and non-assessable.

Appears in 1 contract

Samples: Vanguard Star Funds

Division of Beneficial Interest. SECTION 1. The Shares of the Trust shall be issued in one or more series as the Trustees may, without Shareholder approval, authorize from time to time. Each series shall be preferred over all other series in respect of the assets allocated to that series as hereinafter provided. The beneficial interest in the Trust each series shall at all times be divided into an unlimited number of Shares, Shares (without par value) of such series, but the Trustees shall have the authority from time to time to issue Shares in one or more Series as they deem necessary or desirable (each of which Series of Shares shall represent the beneficial an equal proportionate interest in a separate and distinct sub-trust of the Trust). Subject to the provisions of Section 6 of this Article III, such series with each Share shall have voting rights as provided in Article V hereof, and holders of the Shares of any Series shall be entitled to receive dividends, when and as declared with respect thereto in the manner provided in Article VI, Section 1 hereof. No Shares shall have any priority or preference over any other Share of the same Series with respect to dividends series, none having priority or distributions upon termination preference over another Share of the Trust or of such Series made pursuant to Article VIII, Section 4 hereofsame series. All dividends and distributions shall be made ratably among all Shareholders of a particular Series from the assets belonging to such Series according to the The number of Shares of such Series held of record authorized shall be unlimited, and the Shares so authorized may be represented in part by each Shareholder on the record date for any dividend or on the date of termination, as the case may be. Shareholders shall have no preemptive or other right to subscribe to any additional Shares or other securities issued by the Trust or any Seriesfractional Shares. The Trustees may from time to time divide or combine the Shares of any particular Series series into a greater or lesser number of Shares of that Series without thereby changing the proportionate beneficial interest interests in the series. Without limiting the authority of the Shares of that Series Trustees set forth in this Section 1 to establish and designate any further series, the assets belonging to that Series or in any way affecting the rights Trustees hereby establish and designate a single series of Shares to be known as the "The Kansas Municipal Fund." The establishment and designation of any other Seriesseries of Shares in addition to the foregoing shall be effective upon the execution by a majority of the then Trustees of an instrument setting forth such establishment and designation and the relative rights and preferences of such series. As provided in Article IX, Section 1 hereof, any series of Shares (whether or not there shall then be Shares outstanding of said series) may be terminated by the Trustees by written notice to the Shareholders shall have no right of such series or by the vote of the Shareholders of such series entitled to demand payment for their shares or vote more than fifty percent (50%) of the votes entitled to any other rights of dissenting shareholders in be cast on the matter. In the event the Trust participates in of any transaction which would give rise to appraisal or dissenter's rights by such termination, a shareholder of a corporation organized under Chapter 156B majority of the General Laws then Trustees shall execute an instrument setting forth the termination of the Commonwealth of Massachusetts, or otherwisesuch series.

Appears in 1 contract

Samples: Exhibit Number (Ranson Managed Portfolios)

Division of Beneficial Interest. The beneficial interest in the Trust shall at all times be divided into an unlimited number of Shares, without with no par valuevalue per Share. The Trustees may authorize the division of Shares into separate Series and the division of Series into separate classes of Shares. The different Series shall be established and designated, but and the Trustees variations in the relative rights and preferences as between the different Series shall be fixed and determined, by the Trustees. If only one or no Series (or classes) shall be established, the Shares shall have the authority from time rights and preferences provided for herein and in Article III, Section 6 hereof to time the extent relevant and not otherwise provided for herein, and all references to issue Shares in one or more Series (and classes) shall be construed (as they deem necessary or desirable (each of which Series of Shares shall represent the beneficial interest in a separate and distinct sub-trust of context may require) to refer to the Trust). Table of Contents - Agreement and Declaration of Trust Subject to the provisions of Section 6 of this Article III, each Share shall have voting rights as provided in Article V hereof, and holders of the Shares of any Series shall be entitled to receive dividends, when when, if and as declared with respect thereto in the manner provided in Article VI, Section 1 hereof. No Shares shall have any priority or preference over any other Share of the same Series with respect to dividends or distributions upon termination of the Trust or of such Series made pursuant to Article VIII, Section 4 2 hereof. All dividends and distributions shall be made ratably among all Shareholders of a particular (class of a particular) Series from the assets belonging held with respect to such Series according to the number of Shares of such (class of such) Series held of record by each such Shareholder on the record date for any dividend or distribution or on the date of termination, as the case may be. Shareholders shall have no preemptive or other right to subscribe to any additional Shares or other securities issued by the Trust or any Series. The Trustees may from time to time divide or combine the Shares of any particular Series into a greater or lesser number of Shares of that Series without thereby materially changing the proportionate beneficial interest of the Shares of that Series in the assets belonging held with respect to that Series or in any way materially affecting the rights of Shares of any other Series. Shareholders shall have no right to demand payment for their shares or to any other rights of dissenting shareholders in the event the Trust participates in any transaction which would give rise to appraisal or dissenter's rights by a shareholder of a corporation organized under Chapter 156B of the General Laws of the Commonwealth of Massachusetts, or otherwise.

Appears in 1 contract

Samples: Agreement and Declaration of Trust (Managed Portfolio Series)

Time is Money Join Law Insider Premium to draft better contracts faster.