DESIGNATED CLASS C DIRECTOR

DESIGNATED CLASS C DIRECTOR. Shall initially be Robert H. Sheridan, III. NationsBanc may, at any time and from time to time, change the Designated Class C Director by written notice to all Shareholders (a) stating that the then existing Class C Director (identified by name) shall no longer be the Designated Class C Director, (b) identifying the person designated to be the new Designated Class C Director, and (c) specifying the effective date of such designation. If the... person designated as the Designated Class C Director is unable or unwilling to serve as the Class C Director then NationsBanc shall promptly give written notice of a new Designated Class C Director to all Shareholders, and until such notice is given the Shareholders shall have no obligation to elect a Class C Director. View More