Common use of Term; Termination; Renewal Clause in Contracts

Term; Termination; Renewal. This Agreement shall become effective as of the date of its execution, and a. unless otherwise terminated, this Agreement shall continue in effect until ________, 2026, and from year to year thereafter so long as such continuance is specifically approved at least annually (i) by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund, and (ii) by vote of a majority of the Trustees of the Fund who are not interested persons of the Fund or the Adviser, cast in person at a meeting called for the purpose of voting on such approval; b. this Agreement may at any time be terminated on sixty days’ written notice to the Adviser either by vote of the Board of Trustees of the Fund or by vote of a majority of the outstanding voting securities of the Fund; c. this Agreement shall automatically terminate in the event of its assignment; and d. this Agreement may be terminated by the Adviser on sixty days’ written notice to the Fund. Termination of this Agreement pursuant to this Section 10 shall be without the payment of any penalty. For purposes of this Section 10, the terms “assignment,” “interested persons,” and “vote of a majority of the outstanding voting securities” shall have their respective meanings defined in the Investment Company Act, subject, however, to such exemptions or no-action positions as may be granted by the Securities and Exchange Commission or its staff under the Investment Company Act.

Term; Termination; Renewal. This Agreement shall become effective as of the date of its execution, and a. (a) unless otherwise terminated, this Agreement shall continue in effect until ________, 2026[ ], and from year to year thereafter so long as such continuance is specifically approved at least annually (i) by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund, and (ii) by vote of a majority of the Trustees of the Fund who are not interested persons of the Fund or the AdviserInvestment Manager, cast in person at a meeting called for the purpose of voting on such approval; b. (b) this Agreement may at any time be terminated on sixty days’ written notice to the Adviser Investment Manager either by vote of the Board of Trustees of the Fund or by vote of a majority of the outstanding voting securities of the Fund; c. (c) this Agreement shall automatically terminate in the event of its assignment; and d. (d) this Agreement may be terminated by the Adviser Investment Manager on sixty days’ written notice to the Fund. Termination of this Agreement pursuant to this Section 10 shall be without the payment of any penalty. For purposes of this Section 10, the terms “assignment,” “interested persons,” and “vote of a majority of the outstanding voting securities” shall have their respective meanings defined in the Investment Company Act, subject, however, to such exemptions or no-action positions as may be granted by the Securities and Exchange Commission or its staff under the Investment Company Act.