U.S. GLOBAL ACCOLADE FUNDS
AMENDMENT NO. 3 TO THE
FIRST AMENDED AND RESTATED MASTER TRUST AGREEMENT
AMENDMENT NO. 3 to the First Amended and Restated Master Trust Agreement of U.S.
Global Accolade Funds dated May 22, 1996, made at San Antonio, Texas, this 10th
day of April, 1997, by the Trustee hereunder.
WITNESSETH:
WHEREAS, Section 7.3 of the Amended and Restated Master Trust Agreement dated
May 22, 1996, (the "Agreement") of U.S. Global Accolade Funds (the "Trust")
provides that the Agreement may be amended at any time, so long as such
amendment does not adversely affect the rights of any shareholder with respect
to which such amendment is or purports to be applicable and so long as such
amendment is not in contravention of applicable law, including the Investment
Company Act of 1940, by an instrument in writing, signed by an officer of the
Trust pursuant to a vote of a majority of the Trustees of the Trust; and
WHEREAS, a majority of the Trustees of the Trust desire to amend the Agreement
to modify terms of the Trustees of the Trust pursuant to Section 3.1(d) of the
Agreement to conform with Section 16 of the Investment Company Act of 1940; and
WHEREAS, a majority of the Trustees of the Trust have duly adopted the amendment
to the Agreement shown below on February 28, 1997, and authorized the same to be
filed with the Secretary of State of the Commonwealth of Massachusetts;
NOW, THEREFORE, the undersigned Xxxxx X. Xxxxxx, the duly elected and serving
President of the Trust, pursuant to the authorization described above, hereby
amends Section 3.1(d) of the Amended and Restated Master Trust Agreement, as
heretofore in effect, to read as follows:
"Section 3.1(d) TERM. Whether named above, appointed or elected
pursuant to the terms of this Agreement, a Trustee shall serve as a
trustee of the Trust and each Sub-Trust for a period of six years or
until termination of the Trust or the Trustee's death, resignation or
removal, whichever occurs first. This provision shall not be construed
to preclude reelection of a Trustee whose term is expiring."
WITNESS my hand and seal this 10th day of April, 1997.
/s/ Xxxxx X. Xxxxxx, President
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XXXXX X. XXXXXX, PRESIDENT
STATE OF TEXAS )
)ss
COUNTY OF BEXAR )
Then personally appeared the above-name Xxxxx X. Xxxxxx and acknowledged this
instrument to be his free act and deed this 10th day of April, 1997.
/s/ Xxxxxxx X. Heathery
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Notary Public
State of Texas
My Commission expires 07-21-98