Common use of Duration, Termination and Amendment Clause in Contracts

Duration, Termination and Amendment. (a) This Agreement shall be effective on the date set forth above, and unless terminated as provided herein, shall continue for two years from its effective date, and thereafter from year to year, provided such continuance is approved annually (i) by vote of a majority of the Trustees or by the vote of a majority of the outstanding voting securities of the Fund and (ii) by the vote of a majority of those Trustees who are not parties to this Agreement or interested persons of any such party cast in person at a meeting called for the purpose of voting on such approval. This Agreement may be terminated at any time, without the payment of any penalty, as to each Fund (i) by vote of a majority of Trustees or (ii) by vote of a majority of the outstanding voting securities of the Fund, or by the Distributor, on at least sixty (60) days prior written notice. This Agreement shall automatically terminate without the payment of any penalty in the event of its assignment. As used in this paragraph, the terms “vote of a majority of the outstanding voting securities,” “assignment,” “affiliated person” and “interested person” shall have the respective meanings specified in the 1940 Act.

Appears in 2 contracts

Samples: Etf Distribution Agreement (Siren ETF Trust), Etf Distribution Agreement (Siren ETF Trust)

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Duration, Termination and Amendment. (a) This Agreement shall be effective on as of the date set forth aboveof this Agreement, and unless terminated as provided herein, shall continue for two years from its effective date, and thereafter from year to year, provided such continuance is approved annually by (i) by vote of a majority of the Trustees or by the vote of a majority of the outstanding voting securities of the Fund and (ii) by the vote of a majority of those Trustees who are not parties to this Agreement or interested persons of any such party cast in person at a meeting called for the purpose of voting on such approval. This Agreement may be terminated at any time, without the payment of any penalty, as to each Fund (i) by vote of a majority of those Trustees who are not parties to this Agreement or interested persons of any such party or (ii) by vote of a majority of the outstanding voting securities of the Fund, or by the Distributor, on at least sixty (60) days prior written noticenotice to the Distributor. This Agreement shall automatically terminate without the payment of any penalty in the event of its assignment. As used in this paragraph, the terms "vote of a majority of the outstanding voting securities,” “", "assignment,” “affiliated person” and “interested person” shall have the respective meanings specified in the 1940 Act.", "

Appears in 1 contract

Samples: Distribution Agreement (RevenueShares ETF Trust)

Duration, Termination and Amendment. (a) This Agreement shall be become effective on the date set forth above, and unless terminated as provided herein, shall continue for two years from its effective date, and thereafter from year to year, provided such continuance is approved annually (i) by vote of a majority upon termination of the Trustees or by the vote Distribution Agreement dated as of a majority of the outstanding voting securities of July 24, 2007 between the Fund and (ii) the Distributor due to an assignment or change in control, provided that this Agreement shall not take effect unless it has first been approved by the a vote of a majority of those Trustees Directors of the Fund who are not parties to this Agreement or interested persons of any such party party, cast in person at a meeting called for the purpose of voting on such approvalapproval (the “Start Date”), and shall continue thereafter throughout the period that ends two (2) years after the Start Date. This Agreement may be terminated at any time, without the payment of any penalty, as to each Fund Portfolio (i) by vote of a majority of Trustees the Independent Directors or (ii) by vote of a majority (as defined in the 0000 Xxx) of the outstanding voting securities of the Fund, or by the Distributor, on at least sixty (60) days prior written noticenotice to the Distributor. In addition, this Agreement may be terminated at any time by the Distributor upon at least sixty (60) days prior written notice to the Fund. This Agreement shall automatically terminate without the payment of any penalty in the event of its assignment. As used in this paragraph, the terms “vote of a majority of the outstanding voting securities,” “assignment,” “affiliated person” and “interested personpersons” shall have the respective meanings specified in the 1940 Act.

Appears in 1 contract

Samples: Distribution Agreement (Db-X Exchange-Traded Funds Inc.)

Duration, Termination and Amendment. (a) This Agreement shall be effective on the date set forth aboveAugust 13, 2008, and unless terminated as provided herein, shall continue for two years from its effective date, and thereafter from year to year, provided such continuance is approved annually (i) by vote of a majority of the Trustees or by the vote of a majority of the outstanding voting securities of the Fund and (ii) by the vote of a majority of those Trustees who are not parties to this Agreement or interested persons of any such party cast in person at a meeting called for the purpose of voting on such approval. This Agreement may be terminated at any time, without the payment of any penalty, as to each Fund (i) by vote of a majority of those Trustees who are not parties to this Agreement or interested persons of any such party or (ii) by vote of a majority of the outstanding voting securities of the Fund, or by the Distributor, on at least sixty (60) days prior written noticenotice to the Distributor. This Agreement shall automatically terminate without the payment of any penalty in the event of its assignment. As used in this paragraph, the terms “vote of a majority of the outstanding voting securities,” “assignment,” “affiliated person” and “interested person” shall have the respective meanings specified in the 1940 Act0000 Xxx.

Appears in 1 contract

Samples: Distribution Agreement (Direxion Shares ETF Trust)

Duration, Termination and Amendment. (a) This Agreement shall be effective on the date set forth aboveNovember 16, 2007, and unless terminated as provided herein, shall continue for two years from its effective date, and thereafter from year to year, provided such continuance is approved annually by (i) by vote of a majority of the Trustees or by the vote of a majority of the outstanding voting securities of the Fund and (ii) by the vote of a majority of those Trustees who are not parties to this Agreement or interested persons of any such party cast in person at a meeting called for the purpose of voting on such approval. This Agreement may be terminated at any time, without the payment of any penalty, as to each Fund (i) by vote of a majority of those Trustees who are not parties to this Agreement or interested persons of any such party or (ii) by vote of a majority of the outstanding voting securities of the Fund, or by the Distributor, on at least sixty (60) days prior written noticenotice to the Distributor. This Agreement shall automatically terminate without the payment of any penalty in the event of its assignment. As used in this paragraph, the terms “vote of a majority of the outstanding voting securities,” ”, “assignment,” ”, “affiliated person” and “interested person” shall have the respective meanings specified in the 1940 Act.

Appears in 1 contract

Samples: Distribution Agreement (FocusShares Trust)

Duration, Termination and Amendment. (a) This Agreement shall be effective on the date set forth aboveMarch 31, 2009, and unless terminated as provided herein, shall continue for two years from its effective dateuntil August 1, 2010, and thereafter from year to year, provided such continuance is approved annually (i) by vote of a majority of the Trustees or by the vote of a majority of the outstanding voting securities of the Fund and (ii) by the vote of a majority of those Trustees who are not parties to this Agreement or interested persons of any such party cast in person at a meeting called for the purpose of voting on such approval. This Agreement may be terminated at any time, without the payment of any penalty, as to each Fund (i) by vote of a majority of those Trustees who are not parties to this Agreement or interested persons of any such party or (ii) by vote of a majority of the outstanding voting securities of the Fund, or by the Distributor, on at least sixty (60) days prior written noticenotice to the Distributor. This Agreement shall automatically terminate without the payment of any penalty in the event of its assignment. As used in this paragraph, the terms “vote of a majority of the outstanding voting securities,” “assignment,” “affiliated person” and “interested person” shall have the respective meanings specified in the 1940 Act0000 Xxx.

Appears in 1 contract

Samples: Distribution Agreement (Direxion Shares ETF Trust)

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Duration, Termination and Amendment. (a) This Agreement shall be effective on the date set forth aboveEffective Date, and unless terminated as provided herein, shall continue for two years from its effective date, and thereafter from year to year, provided such continuance is approved annually by (i) by vote of a majority of the Trustees or by the vote of a majority of the outstanding voting securities of the Fund and (ii) by the vote of a majority of those Trustees who are not parties to this Agreement or interested persons of any such party cast in person at a meeting called for the purpose of voting on such approval. This Agreement may be terminated at any time, without the payment of any penalty, as to each Fund (i) by vote of a majority of those Trustees who are not parties to this Agreement or interested persons of any such party or (ii) by vote of a majority of the outstanding voting securities of the Fund, or by the Distributor, on at least sixty (60) days prior written noticenotice to the Distributor. This Agreement shall automatically terminate without the payment of any penalty in the event of its assignment. As used in this paragraph, the terms “vote of a majority of the outstanding voting securities,” ”, “assignment,” ”, “affiliated person” and “interested person” shall have the respective meanings specified in the 1940 Act.

Appears in 1 contract

Samples: Distribution Agreement (WisdomTree Trust)

Duration, Termination and Amendment. (a) This Agreement shall be effective on the date set forth above, and unless terminated as provided herein, shall continue for two years from its effective date, and thereafter from year to year, provided such continuance is approved annually (i) by vote of a majority of the Trustees or by the vote of a majority of the outstanding voting securities of the Fund and (ii) by the vote of a majority of those Trustees who are not parties to this Agreement or interested persons of any such party cast in person at a meeting called for the purpose of voting on such approval. This Agreement may be terminated at any time, without the payment of any penalty, as to each Fund (i) by vote of a majority of those Trustees who are not parties to this Agreement or interested persons of any such party or (ii) by vote of a majority of the outstanding voting securities of the Fund, or by the Distributor, Fund on at least sixty ninety (6090) days prior written notice. This Agreement shall automatically terminate without the payment of any penalty in the event of its assignment. As used in this paragraph, the terms “vote of a majority of the outstanding voting securities,” “assignment,” “affiliated person” and “interested person” shall have the respective meanings specified in the 1940 Act.

Appears in 1 contract

Samples: Etf Distribution Agreement (Engine No. 1 ETF Trust)

Duration, Termination and Amendment. (a) This Agreement shall be effective on the date set forth above[ ], 2007, and unless terminated as provided herein, shall continue for two years from its effective date, and thereafter from year to year, provided such continuance is approved annually by (i) by vote of a majority of the Trustees or by the vote of a majority of the outstanding voting securities of the Fund and (ii) by the vote of a majority of those Trustees who are not parties to this Agreement or interested persons of any such party cast in person at a meeting called for the purpose of voting on such approval. This Agreement may be terminated at any time, without the payment of any penalty, as to each Fund (i) by vote of a majority of those Trustees who are not parties to this Agreement or interested persons of any such party or (ii) by vote of a majority of the outstanding voting securities of the Fund, or by the Distributor, on at least sixty (60) days prior written noticenotice to the Distributor. This Agreement shall automatically terminate without the payment of any penalty in the event of its assignment. As used in this paragraph, the terms “vote of a majority of the outstanding voting securities,” ”, “assignment,” ”, “affiliated person” and “interested person” shall have the respective meanings specified in the 1940 Act.

Appears in 1 contract

Samples: Distribution Agreement (SPA ETF Trust)

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