Rebuttable Presumption. SECTION 3. For purposes of the determination or opinion referred to in clause (c) of Section 1 of this Article VIII or clauses (x) or (y) of Section 2 of this Article VIII, the majority of Trustees who are disinterested persons and who are not Interested Persons of the Trust acting on the matter or independent legal counsel, as the case may be, shall be entitled to rely upon a rebuttable presumption that the Covered Person has not engaged in willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of such Covered Person's office.
Appears in 4 contracts
Samples: Agreement and Declaration of Trust (Western Asset Claymore Us Treasury Inflation Pro Sec Fund 2), Agreement and Declaration of Trust (Western Asset/Claymore Inflation-Protected Securities Fund), Agreement and Declaration of Trust (Western Asset/Claymore Inflation-Protected Securities Fund)
Rebuttable Presumption. SECTION 3. 3 For purposes of the determination or opinion referred to in clause (c) of Section 1 of this Article VIII or clauses (x) or (y) of Section 2 of this Article VIII, the majority of Trustees who are disinterested persons and who are not Interested Persons of the Trust acting on the matter or independent legal counsel, as the case may be, shall be entitled to rely upon a rebuttable presumption that the Covered Person has not engaged in willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of such Covered Person's office.
Appears in 3 contracts
Samples: Agreement and Declaration of Trust (Old Mutual/Claymore Global Long-Short Fund), Agreement and Declaration of Trust (Old Mutual/Claymore Long-Short Fund (f.k.a. Analytic Covered Call Plus Fund)), Agreement and Declaration of Trust (Old Mutual/Claymore Long-Short Fund (f.k.a. Analytic Covered Call Plus Fund))
Rebuttable Presumption. SECTION 3. For purposes of the determination or opinion referred to in clause (c) of Section 1 of this Article VIII 4 or clauses (x) or (y) of Section 2 of this Article VIII4, the a majority of the Trustees who are disinterested persons and who are not Interested Persons of the Trust acting on the matter or independent legal counsel, as the case may be, shall be entitled to rely upon a rebuttable presumption that the Covered Person has not engaged in willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of such Covered Person's office.
Appears in 1 contract
Samples: UM Investment Trust II
Rebuttable Presumption. SECTION 3. For purposes of the determination or opinion referred to in clause (c) of Section 1 of this Article VIII or clauses (x) or (y) of Section 2 of this Article VIII, the majority of the Trustees who are disinterested persons and who are not Interested Persons of the Trust acting on the matter or independent legal counsel, as the case may be, shall be entitled to rely upon a rebuttable presumption that the Covered Person has not engaged in willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of such Covered Person's office.
Appears in 1 contract
Samples: Agreement and Declaration of Trust (Aew Real Estate Income Fund)
