Common use of Executive Committee Clause in Contracts

Executive Committee. The Trustees by vote of a majority of all the Trustees may elect from their own number an Executive Committee to consist of two (2) or more Trustees to hold office at the pleasure of the Trustees, which shall have the power to conduct the current and ordinary business of the Trust while the Trustees are not in session, including the purchase and sale of securities and the designation of securities to be delivered upon redemption of Shares of the Trust, and such other powers of the Trustees as the Trustees may, from time to time, delegate to them except those powers by law, the Declaration of Trust or these By-Laws they are prohibited from delegating.

Executive Committee. The Trustees by vote of a majority of all the Trustees may elect from their own number an Executive Committee to consist of two not less than three (23) or more Trustees to hold office at the pleasure of the Trusteesmembers, which shall have the power to conduct the current and ordinary business of the Trust while the Trustees are not in session, including the purchase and sale of securities and the designation of securities to be delivered upon redemption of Shares of the TrustTrust or a Series thereof, and shall have such other powers of the Trustees and perform such other duties as the Trustees may, from time to time, delegate to them except those powers and duties which by law, the Declaration of Trust or these By-Laws laws they are prohibited from so delegating.

Executive Committee. The Trustees by vote of a majority of all ------------------- the Trustees may elect from their own number an Executive Committee to consist of two (2) or more Trustees to hold office at the pleasure of the Trustees, which shall have the power to conduct the current and ordinary business of the Trust while the Trustees are not in session, including the purchase and sale of securities and the designation of securities to be delivered upon redemption of Shares of the Trust, and such other powers of the Trustees as the Trustees may, from time to time, delegate to them except those powers by law, the Declaration of Trust or these By-Laws they are prohibited from delegating.

Executive Committee. The Trustees by vote of a majority of all the Trustees may elect from their own number an Executive Committee to consist of two not less than three (23) or more Trustees to hold office at the pleasure of the Trustees, which shall have the power to conduct the current and ordinary business of the Trust while the Trustees are not in session, including the purchase and sale of securities and the designation of securities to be delivered upon redemption of Shares of the Trust, and such other powers of the Trustees as the Trustees may, from time to time, delegate to them except those powers by law, the Declaration of Trust or these By-Laws they are prohibited from delegating.