Collection and Payment. The Trustees shall have power to collect all property due to the Trust; to pay all claims, including taxes, against the Trust Property or the Trust, the Trustees or any officer, employee or agent of the Trust; to prosecute, defend, compromise or abandon any claims relating to the Trust Property or the Trust, or the Trustees or any officer, employee or agent of the Trust; to foreclose any security interest securing any obligations owed to the Trust; and to enter into releases, agreements and other instruments. Except as provided in Section 12.7 and to the fullest extent permitted by applicable law, the Shareholders shall have no power to vote as to whether or not a court action, legal proceeding or claim should or should not be brought or maintained derivatively or as a class action on behalf of the Trust or the Shareholders.
Appears in 4 contracts
Samples: Agreement and Declaration of Trust (A&Q Multi-Strategy Fund), Agreement and Declaration of Trust (A&Q Masters Fund), Agreement and Declaration of Trust (O'Connor Fund of Funds: Masters)
Collection and Payment. The Trustees shall have power to collect all property due to the Trust; to pay all claims, including taxes, against the Trust Property or the Trust, the Trustees or any officer, employee or agent of the Trust; to prosecute, defend, compromise or abandon any claims relating to the Trust Property or the Trust, or the Trustees or any officer, employee or agent of the Trust; to foreclose any security interest securing any obligations owed to the Trust; and to enter into releases, agreements and other instruments. Except as provided in Section 12.7 and to To the fullest extent permitted by applicable law, and subject to Section 12.7, the Shareholders shall have no power to vote as to whether or not a court action, legal proceeding or claim should or should not be brought or maintained derivatively or as a class action on behalf of the Trust or the Shareholders.
Appears in 4 contracts
Samples: Agreement and Declaration of Trust (Paramount Access Fund), Agreement and Declaration of Trust (Paramount Institutional Access Fund), Agreement and Declaration of Trust (Paramount Institutional Access Fund)
Collection and Payment. The Trustees shall have power to collect all property due to the TrustFund; to pay all claims, including taxes, against the Trust Fund Property or the TrustFund, the Trustees or any officer, employee or agent of the TrustFund; to prosecute, defend, compromise or abandon any claims relating to the Trust Fund Property or the TrustFund, or the Trustees or any officer, employee or agent of the TrustFund; to foreclose any security interest securing any obligations obligations, by virtue of which any property is owed to the TrustFund; and to enter into releases, agreements and other instruments. Except as provided in Section 12.7 and to the fullest extent permitted by applicable lawrequired for a Delaware business corporation, the Shareholders shall have no power to vote as to whether or not a court action, legal proceeding or claim should or should not be brought or maintained derivatively or as a class action on behalf of the Trust Fund or the Shareholders.
Appears in 3 contracts
Samples: Agreement and Declaration of Fund (GDL Fund), Agreement and Declaration (Gabelli Global Deal Fund), Agreement and Declaration of Fund (Gabelli Global Deal Fund)
Collection and Payment. The Trustees shall have power to collect all property due to the Trust; to pay all claims, including taxes, against the Trust Property or the Trust, the Trustees or any officer, employee or agent of the Trust; to prosecute, defend, compromise or abandon any claims relating to the Trust Property or the Trust, or the Trustees or any officer, employee or agent of the Trust; to foreclose any security interest securing any obligations obligations, by virtue of which any property is owed to the Trust; and to enter into releases, agreements and other instruments. Except as provided in Section 12.7 and to the fullest extent permitted by applicable lawrequired for a Delaware business corporation, the Shareholders shall have no power to vote as to whether or not a court action, legal proceeding or claim should or should not be brought or maintained derivatively or as a class action on behalf of the Trust or the Shareholders. 3.7.
Appears in 2 contracts
Samples: Agreement and Declaration (Gabelli Utility Trust), Gabelli Utility Trust
Collection and Payment. The Trustees shall have power to collect all property due to the Trust; to pay all claims, including taxes, against the Trust Property or the Trust, the Trustees or any officer, employee or agent of the Trust; to prosecute, defend, compromise or abandon any claims relating to the Trust Property or the Trust, or the Trustees or any officer, employee or agent of the Trust; to foreclose any security interest securing any obligations obligations, by virtue of which any property is owed to the Trust; and to enter into releases, agreements and other instruments. Except as provided in Section 12.7 and to the fullest extent permitted by applicable lawrequired for a Delaware business corporation, the Shareholders shall have no power to vote as to whether or not a court action, legal proceeding or claim should or should not be brought or maintained derivatively or as a class action on behalf of the Trust or the Shareholders.. 3.8
Appears in 1 contract
Samples: Trust ____________________________________________ Agreement (Blackrock High Yield Trust)
