Common use of REMOVAL OF A DIRECTOR Clause in Contracts

REMOVAL OF A DIRECTOR. Any Director may be removed either by (a) the vote or written consent of at least two-thirds (2/3) of the Directors not subject to the removal vote or (b)(i) the vote, if at a meeting, of Shareholders holding a majority of the outstanding voting securities or (ii) written consent of Shareholders holding not less than two-thirds (2/3) of the total number of votes eligible to be cast by all Shareholders for the election of Directors. For this purpose, the vote of a majority of the outstanding voting securities means, unless otherwise defined by the 1940 Act, the vote, at an annual or a special meeting of Shareholders, of 67% or more of the total number of votes eligible to be cast by all Shareholders present at the meeting, if the holders of more than 50% of the total number of votes eligible to be cast by all Shareholders are present or represented by proxy, or of more than 50% of the total number of votes eligible to be cast by all Shareholders, whichever is less.

REMOVAL OF A DIRECTOR. Any Director may be removed either by (a) the vote or written consent of at least two-thirds (2/3) of the Directors not subject to the removal vote or (b)(i) the vote, if at a meeting, of Shareholders Members holding a majority of the outstanding voting securities or (ii) written consent of Shareholders Members holding not less than two-thirds (2/3) of the total number of votes eligible to be cast by all Shareholders Members for the election of Directors. For this purpose, the vote of a majority of the outstanding voting securities means, unless otherwise defined by the 1940 Act, the vote, at an annual or a special meeting of ShareholdersMembers, of 67% or more of the total number of votes eligible to be cast by all Shareholders Members present at the meeting, if the holders of more than 50% of the total number of votes eligible to be cast by all Shareholders Members are present or represented by proxy, or of more than 50% of the total number of votes eligible to be cast by all ShareholdersMembers, whichever is less.

REMOVAL OF A DIRECTOR. Any Director may be removed either by (a) the vote or written consent of at least two-thirds (2/3) of the Directors not subject to the removal vote or (b)(i) the vote, if at a meeting, of Shareholders holding a majority of the outstanding voting securities or (iib) written consent of Shareholders holding not less than two-thirds (2/3) of the total number of votes eligible to be cast by all Shareholders for the election of Directors. For this purpose, the vote of a majority of the outstanding voting securities means, unless otherwise defined by the 1940 Act, the vote, at an annual or a special meeting of Shareholders, of 67% or more of the total number of votes eligible to be cast by all Shareholders present at the meeting, if the holders of more than 50% of the total number of votes eligible to be cast by all Shareholders are present or represented by proxy, or of more than 50% of the total number of votes eligible to be cast by all Shareholders, whichever is less.