Common use of Allocation of Recovery Clause in Contracts

Allocation of Recovery. Under the Bond In the event Actual Loss is suffered by any two or more of the Funds, any recovery under the Bond will be allocated among such Funds in the following manner: a. If the Fidelity Coverage exceeds or is equal to the amount of the combined Actual Losses of the Funds suffering Actual Loss, then each such Fund shall be entitled to recover the amount of its Actual Loss. b. If the amount of Actual Loss of each Fund suffering Actual Loss exceeds its Minimum Coverage Requirement and the amount of the Funds' combined Actual Losses exceeds the Fidelity Coverage, then each Fund shall be entitled to recover (i) its Minimum Coverage Requirement, and (ii) to the extent there exists Excess Coverage, the proportion of the Excess Coverage which its Minimum Coverage Requirement bears to the amount of the combined Minimum Coverage Requirements of the Funds suffering Actual Loss; provided, however, that if the Actual Loss of any of such Funds is less than the sum of (i) and (ii) of this subpart (b), then such difference shall be recoverable by the other Funds in proportion to their relative Minimum Coverage Requirements. c. If (i) the amount of Actual Loss suffered by any Fund is less than or equal to its Minimum Coverage Requirement, (ii) the amount of Actual Loss of the other Funds exceeds its or their Minimum Coverage Requirement(s) and (iii) the amount of the combined Actual Losses of the Funds exceeds the Fidelity Coverage, then any Fund which has suffered an amount of Actual Loss less than or equal to its Minimum Coverage Requirement shall be entitled to recover its Actual Loss. If only one other Fund has suffered Actual Loss, it shall be entitled to recover the amount of the Fidelity Coverage remaining. If more than one other Fund has suffered Actual Loss in excess of the remaining coverage, they shall allocate such remaining coverage in accordance with Section III(b) of this Agreement.

Allocation of Recovery. Under the Bond In the event Actual Loss an actual pecuniary loss is suffered by any two or more of the FundsInsureds under circumstances covered by the terms of the Bond, any recovery under the Bond will shall be allocated among such Funds in the following mannerInsureds as follows: a. (a) If the Fidelity Coverage total amount of coverage provided under the Bond exceeds or is equal to the amount of the combined Actual Losses total amount of loss suffered by the Funds Insureds suffering Actual Lossloss, then each such Fund Insured shall be entitled to recover the amount of its Actual Lossactual loss. b. (b) If the amount of Actual Loss of loss suffered by each Fund Insured suffering Actual Loss loss exceeds its Minimum Coverage Requirement minimum coverage requirements as set forth in Section 1 hereof and the amount of the Fundssuch Insureds' combined Actual Losses actual losses exceeds the Fidelity Coveragetotal amount of coverage provided under the Bond, then each Fund such Insured shall be entitled to recover (i) its Minimum Coverage Requirement, and minimum coverage requirement (ii) to the extent there exists Excess Coverageany excess coverage, the proportion of the Excess Coverage such excess coverage which its Minimum Coverage Requirement minimum coverage requirement bears to the amount of the combined Minimum Coverage Requirements minimum coverage requirements of the Funds Insureds suffering Actual Lossactual loss; provided, however, that if the Actual Loss actual loss of any of such Funds Insureds is less than the sum of (i) and (ii) of this subpart (b)above, then such difference shall be recoverable by the other Funds Insured or Insureds in proportion to their relative Minimum Coverage Requirementsminimum coverage requirements. c. (c) If (i) the amount of Actual Loss actual loss suffered by any Fund Insured is less than or equal to its Minimum Coverage Requirementminimum coverage requirement, (ii) the amount of Actual Loss actual loss of another Insured or the other Funds Insureds exceeds its or their Minimum Coverage Requirement(s) minimum coverage requirement or requirements, and (iii) the amount of the combined Actual Losses actual losses of the Funds Insureds exceeds the Fidelity Coveragetotal amount of coverage provided under the Bond, then any Fund Insured which has suffered an amount of Actual Loss actual loss less than or equal to its Minimum Coverage Requirement minimum coverage requirement shall be entitled to recover its Actual Lossactual loss. If only one other Fund Insured has suffered Actual Lossactual loss, it shall be entitled to recover the remainder of the amount of the Fidelity Coverage remainingcoverage under the Bond. If more than one other Fund Insured has suffered Actual Loss actual loss in excess of the remaining coverage, then they shall allocate such remaining amount of coverage in accordance with Section III(bparagraph (b) of this AgreementSection 2.

Allocation of Recovery. Under the Bond In the event Actual Loss an actual pecuniary loss is suffered by any two or more of the FundsInsureds under circumstances covered by the terms of the Bond, any recovery under the Bond will shall be allocated among such Funds in the following mannerInsureds as follows: a. (a) If the Fidelity Coverage total amount of coverage provided under the Bond exceeds or is equal to the amount of the combined Actual Losses total amount of loss suffered by the Funds Insureds suffering Actual Lossthe loss, then each such Fund Insured shall be entitled to recover the amount of its Actual Lossactual loss. b. (b) If the amount of Actual Loss of loss suffered by each Fund Insured suffering Actual Loss loss exceeds its Minimum Coverage Requirement minimum coverage requirement as set forth in Section 1. hereof and the amount of such Insureds’ combined actual losses excess the Funds' combined Actual Losses exceeds total amount of coverage provided under the Fidelity CoverageBond, then each Fund such Insured shall be entitled to recover (i) its Minimum Coverage Requirementminimum coverage requirement, and (ii) to the extent there exists Excess Coverageany excess coverage, the proportion of the Excess Coverage which such excess coverage that its Minimum Coverage Requirement minimum requirement bears to the amount of the combined Minimum Coverage Requirements minimum coverage requirements of the Funds Insureds suffering Actual Lossactual loss; provided, however, that if the Actual Loss actual loss of any of such Funds Insureds is less than the sum of (i) and (ii) of this subpart (b)above, then such difference shall be recoverable by the other Funds Insured or Insureds in proportion to their relative Minimum Coverage Requirementsminimum coverage requirements. c. (c) If (i) the amount of Actual Loss actual loss suffered by any Fund Insured is less than or equal to its Minimum Coverage Requirementminimum coverage requirement, (ii) the amount of Actual Loss actual loss of another Insured or the other Funds Insureds exceeds its or their Minimum Coverage Requirement(s) minimum coverage requirement or requirements, and (iii) the amount of the combined Actual Losses actual losses of the Funds Insureds exceeds the Fidelity Coveragetotal amount of coverage provided under the Bond, then any Fund which Insured that has suffered an amount of Actual Loss actual loss less than or equal to its Minimum Coverage Requirement minimum coverage requirement shall be entitled to recover its Actual Lossactual loss. If only one other Fund Insured has suffered Actual Lossactual loss, it shall be entitled to recover the remainder of the amount of the Fidelity Coverage remainingcoverage under the bond. If more than one other Fund Insured has suffered Actual Loss actual loss in excess of the remaining coverage, then they shall allocate such remaining amount of coverage in accordance with Section III(bparagraph (b) of this Agreementsection 2.

Allocation of Recovery. Under the Bond In the event Actual Loss an actual pecuniary loss is suffered by any two or more of the FundsInsureds under circumstances covered by the Bond, any recovery under the Bond will shall be allocated among such Funds in the following mannerInsureds as follows: a. If the Fidelity Coverage total amount of coverage provided under the Bond exceeds or is equal to the amount of the combined Actual Losses of total loss suffered by the Funds Insureds suffering Actual Lossthe loss, then each such Fund Insured shall be entitled to recover the amount of its Actual Lossactual loss. b. If the amount of Actual Loss of loss suffered by each Fund Insured suffering Actual Loss loss exceeds its Minimum Coverage Requirement minimum coverage requirement as set forth in Section 1 hereof and the amount of the Funds' such Insureds’ combined Actual Losses actual losses exceeds the Fidelity Coveragetotal amount of coverage under the Bond, then each Fund such Insured shall be entitled to recover (i) its Minimum Coverage Requirementminimum coverage requirement, and (ii) to the extent there exists Excess Coverageany excess coverage, the proportion of the Excess Coverage which such excess coverage that its Minimum Coverage Requirement minimum coverage requirement bears to the amount of the combined Minimum Coverage Requirements minimum coverage requirements of the Funds Insureds suffering Actual Lossactual loss; provided, however, that if the Actual Loss actual loss of any of such Funds Insureds is less than the sum of (i) and (ii) of this subpart (b)above, then such difference shall be recoverable by the other Funds Insured in proportion to their relative Minimum Coverage Requirementsits minimum coverage requirements. c. If (i) the amount of Actual Loss actual loss suffered by any Fund Insured is less than or equal to its Minimum Coverage Requirementminimum coverage requirement, (ii) the amount of Actual Loss actual loss of the other Funds Insured exceeds its or their Minimum Coverage Requirement(s) minimum coverage requirements, and (iii) the amount of the combined Actual Losses actual losses of the Funds Insureds exceeds the Fidelity Coveragetotal amount of coverage provided under the Bond, then any Fund which Insured that has suffered an amount of Actual Loss actual loss less than or equal to its Minimum Coverage Requirement minimum coverage requirement shall be entitled to recover its Actual Lossactual loss. If only one The other Fund Insured that has suffered Actual Loss, it actual loss shall be entitled to recover the amount remainder of the Fidelity Coverage remaining. If more than one other Fund coverage under the Bond. d. Notwithstanding anything to the foregoing, no Insured shall receive any recovery until each Insured has suffered Actual Loss in excess of at least received at least the remaining coverage, they shall allocate such remaining amount it would have received had it provided and maintained a single insured bond with each Insured’s minimum coverage in accordance with Section III(b) of this Agreementrequirements.

Allocation of Recovery. Under the Bond In the event Actual Loss an actual pecuniary loss is suffered by any two or more of the FundsInsureds under circumstances covered by the Bond, any recovery under the Bond will shall be allocated among such Funds in the following mannerInsureds as follows: a. If the Fidelity Coverage total amount of coverage provided under the Bond exceeds or is equal to the amount of the combined Actual Losses of total loss suffered by the Funds Insureds suffering Actual Lossthe loss, then each such Fund Insured shall be entitled to recover the amount of its Actual Lossactual loss. b. If the amount of Actual Loss of loss suffered by each Fund Insured suffering Actual Loss loss exceeds its Minimum Coverage Requirement minimum coverage requirement as set forth in Section 1 hereof and the amount of the Funds' such Insureds’ combined Actual Losses actual losses exceeds the Fidelity Coveragetotal amount of coverage under the Bond, then each Fund such Insured shall be entitled to recover (i) its Minimum Coverage Requirementminimum coverage requirement, and (ii) to the extent there exists Excess Coverageany excess coverage, the proportion of the Excess Coverage which such excess coverage that its Minimum Coverage Requirement minimum coverage requirement bears to the amount of the combined Minimum Coverage Requirements minimum coverage requirements of the Funds Insureds suffering Actual Lossactual loss; provided, however, that if the Actual Loss actual loss of any of such Funds Insureds is less than the sum of (i) and (ii) of this subpart (b)above, then such difference shall be recoverable by the other Funds Insured in proportion to their relative Minimum Coverage Requirementsits minimum coverage requirements. c. If (i) the amount of Actual Loss actual loss suffered by any Fund Insured is less than or equal to its Minimum Coverage Requirementminimum coverage requirement, (ii) the amount of Actual Loss actual loss of the other Funds Insured exceeds its or their Minimum Coverage Requirement(s) minimum coverage requirements, and (iii) the amount of the combined Actual Losses actual losses of the Funds Insureds exceeds the Fidelity Coveragetotal amount of coverage provided under the Bond, then any Fund which Insured that has suffered an amount of Actual Loss actual loss less than or equal to its Minimum Coverage Requirement minimum coverage requirement shall be entitled to recover its Actual Lossactual loss. If only one The other Fund Insured that has suffered Actual Loss, it actual loss shall be entitled to recover the amount remainder of the Fidelity Coverage remaining. If more than one other Fund coverage under the Bond. d. Notwithstanding anything to the foregoing, no Insured shall receive any recovery until the each Insured has suffered Actual Loss in excess of at least received at least the remaining coverage, they shall allocate such remaining amount it would have received had it provided and maintained a single insured bond with each Insured’s minimum coverage in accordance with Section III(b) of this Agreementrequirements.

Allocation of Recovery. Under the Bond In the event Actual Loss an actual pecuniary loss is suffered by any two or more of the FundsInsureds under circumstances covered by the terms of the Bond, any recovery under the Bond will shall be allocated among such Funds in the following mannerInsureds as follows: a. (a) If the Fidelity Coverage total amount of coverage provided under the Bond exceeds or is equal to the amount of the combined Actual Losses total amount of loss suffered by the Funds Insureds suffering Actual Lossloss, then each such Fund Insured shall be entitled to recover the amount of its Actual Lossactual loss. b. (b) If the amount of Actual Loss of loss suffered by each Fund Insured suffering Actual Loss loss exceeds its Minimum Coverage Requirement minimum coverage requirements as set forth in Section 1 hereof and the amount of the Funds' such Insureds’ combined Actual Losses actual losses exceeds the Fidelity Coveragetotal amount of coverage provided under the Bond, then each Fund such Insured shall be entitled to recover (i) its Minimum Coverage Requirement, and minimum coverage requirement (ii) to the extent there exists Excess Coverageany excess coverage, the proportion of the Excess Coverage such excess coverage which its Minimum Coverage Requirement minimum coverage requirement bears to the amount of the combined Minimum Coverage Requirements minimum coverage requirements of the Funds Insureds suffering Actual Lossactual loss; provided, however, that if the Actual Loss actual loss of any of such Funds Insureds is less than the sum of (i) and (ii) of this subpart (b)above, then such difference shall be recoverable by the other Funds Insured or Insureds in proportion to their relative Minimum Coverage Requirementsminimum coverage requirements. c. (c) If (i) the amount of Actual Loss actual loss suffered by any Fund Insured is less than or equal to its Minimum Coverage Requirementminimum coverage requirement, (ii) the amount of Actual Loss actual loss of another Insured or the other Funds Insureds exceeds its or their Minimum Coverage Requirement(s) minimum coverage requirement or requirements, and (iii) the amount of the combined Actual Losses actual losses of the Funds Insureds exceeds the Fidelity Coveragetotal amount of coverage provided under the Bond, then any Fund Insured which has suffered an amount of Actual Loss actual loss less than or equal to its Minimum Coverage Requirement minimum coverage requirement shall be entitled to recover its Actual Lossactual loss. If only one other Fund Insured has suffered Actual Lossactual loss, it shall be entitled to recover the remainder of the amount of the Fidelity Coverage remainingcoverage under the Bond. If more than one other Fund Insured has suffered Actual Loss actual loss in excess of the remaining coverage, then they shall allocate such remaining amount of coverage in accordance with Section III(bparagraph (b) of this AgreementSection 2.

Allocation of Recovery. Under the Bond In the event Actual Loss an actual pecuniary loss is suffered by any two or more of the FundsInsureds under circumstances covered by the terms of the Bond, any recovery under the Bond will shall be allocated among such Funds in the following mannerInsureds as follows: a. (a) If the Fidelity Coverage total amount of coverage provided under the Bond exceeds or is equal to the amount of the combined Actual Losses total amount of loss suffered by the Funds Insureds suffering Actual Lossloss, then each such Fund Insured shall be entitled to recover the amount of its Actual Lossactual loss. b. (b) If the amount of Actual Loss of loss suffered by each Fund Insured suffering Actual Loss loss exceeds its Minimum Coverage Requirement minimum coverage requirement as set forth in Section 1 hereof and the amount of the Funds' such Insureds’ combined Actual Losses actual losses exceeds the Fidelity Coveragetotal amount of coverage provided under the Bond, then each Fund such Insured shall be entitled to recover (i) its Minimum Coverage Requirementminimum coverage requirement, and (ii) to the extent there exists Excess Coverageany excess coverage, the proportion of the Excess Coverage which such excess coverage that its Minimum Coverage Requirement minimum requirement bears to the amount of the combined Minimum Coverage Requirements minimum coverage requirements of the Funds Insureds suffering Actual Lossactual loss; provided, however, that if the Actual Loss actual loss of any of such Funds Insureds is less than the sum of (i) and (ii) of this subpart (b)above, then such difference shall be recoverable by the other Funds Insured or Insureds in proportion to their relative Minimum Coverage Requirementsminimum coverage requirements. c. (c) If (i) the amount of Actual Loss actual loss suffered by any Fund Insured is less than or equal to its Minimum Coverage Requirementminimum coverage requirement, (ii) the amount of Actual Loss actual loss of another Insured or the other Funds Insureds exceeds its or their Minimum Coverage Requirement(s) minimum coverage requirement or requirements, and (iii) the amount of the combined Actual Losses actual losses of the Funds Insureds exceeds the Fidelity Coveragetotal amount of coverage provided under the Bond, then any Fund which Insured that has suffered an amount of Actual Loss actual loss less than or equal to its Minimum Coverage Requirement minimum coverage requirement shall be entitled to recover its Actual Lossactual loss. If only one other Fund Insured has suffered Actual Lossactual loss, it shall be entitled to recover the remainder of the amount of the Fidelity Coverage remainingcoverage under the bond. If more than one other Fund Insured has suffered Actual Loss actual loss in excess of the remaining coverage, then they shall allocate such remaining amount of coverage in accordance with Section III(bparagraph (b) of this Agreementsection 2.

Allocation of Recovery. Under the Bond In the event Actual Loss an actual pecuniary loss is suffered by any two or more of the FundsInsureds under circumstances covered by the terms of the Bond, any recovery under the Bond will shall be allocated among such Funds in the following mannerInsureds as follows: a. If the Fidelity Coverage total amount of coverage provided under the Bond exceeds or is equal to the amount of the combined Actual Losses total amount of loss suffered by the Funds Insureds suffering Actual Lossloss, then each such Fund Insured shall be entitled to recover the amount of its Actual Lossactual loss. b. If the amount of Actual Loss of loss suffered by each Fund Insured suffering Actual Loss loss exceeds its Minimum Coverage Requirement minimum coverage requirements as set forth in Section 1 hereof and the amount of the Fundssuch Insureds' combined Actual Losses actual losses exceeds the Fidelity Coveragetotal amount of coverage provided under the Bond, then each Fund such Insured shall be entitled to recover (i) its Minimum Coverage Requirement, and minimum coverage requirement (ii) to the extent there exists Excess Coverageany excess coverage, the proportion of the Excess Coverage such excess coverage which its Minimum Coverage Requirement minimum coverage requirement bears to the amount of the combined Minimum Coverage Requirements minimum coverage requirements of the Funds Insureds suffering Actual Lossactual loss; provided, however, that if the Actual Loss actual loss of any of such Funds Insureds is less than the sum of (i) and (ii) of this subpart (b)above, then such difference shall be recoverable by the other Funds Insured or Insureds in proportion to their relative Minimum Coverage Requirementsminimum coverage requirements. c. If (i) the amount of Actual Loss actual loss suffered by any Fund Insured is less than or equal to its Minimum Coverage Requirementminimum coverage requirement, (ii) the amount of Actual Loss actual loss of another Insured or the other Funds Insureds exceeds its or their Minimum Coverage Requirement(s) minimum coverage requirement or requirements, and (iii) the amount of the combined Actual Losses actual losses of the Funds Insureds exceeds the Fidelity Coveragetotal amount of coverage provided under the Bond, then any Fund Insured which has suffered an amount of Actual Loss actual loss less than or equal to its Minimum Coverage Requirement minimum coverage requirement shall be entitled to recover its Actual Lossactual loss. If only one other Fund Insured has suffered Actual Lossactual loss, it shall be entitled to recover the remainder of the amount of the Fidelity Coverage remainingcoverage under the Bond. If more than one other Fund Insured has suffered Actual Loss actual loss in excess of the remaining coverage, then they shall allocate such remaining amount of coverage in accordance with Section III(bparagraph (b) of this AgreementSection 2.

Allocation of Recovery. Under the Bond In the event Actual Loss an actual pecuniary loss is suffered by any two or more of the FundsInsureds under circumstances covered by the terms of the Bond, any recovery under the Bond will shall be allocated among such Funds in the following mannerInsureds as follows: a. (a) If the Fidelity Coverage total amount of coverage provided under the Bond exceeds or is equal to the amount of the combined Actual Losses total amount of loss suffered by the Funds Insured suffering Actual Lossloss, then each such Fund Insured shall be entitled to recover the amount of its Actual Lossactual loss. b. (b) If the amount of Actual Loss of loss suffered by each Fund Insured suffering Actual Loss loss exceeds its Minimum Coverage Requirement minimum coverage requirement as set forth in Section 1 hereof and the amount of the Funds' such Insureds’ combined Actual Losses actual losses exceeds the Fidelity Coveragetotal amount of coverage provided under the Bond, then each Fund such Insured shall be entitled to recover (i) its Minimum Coverage Requirement, minimum coverage requirement and (ii) to the extent there exists Excess Coverageany excess coverage, the proportion of the Excess Coverage such excess coverage which its Minimum Coverage Requirement minimum coverage requirements bears to the amount of the combined Minimum Coverage Requirements minimum coverage requirements of the Funds Insureds suffering Actual Loss; actual loss: provided, however, that if the Actual Loss actual loss of any of such Funds Insureds is less than the sum of (i) and (ii) of this subpart (b)above, then such difference shall be recoverable by the other Funds Insured or Insureds in proportion to their relative Minimum Coverage Requirementsminimum coverage requirements. c. (c) If (i) the amount of Actual Loss actual loss suffered by any Fund Insured is less than or equal to its Minimum Coverage Requirementminimum coverage requirement, (ii) the amount of Actual Loss actual loss of another Insured or the other Funds Insureds exceeds its or their Minimum Coverage Requirement(s) minimum coverage requirement or requirements, and (iii) the amount of the combined Actual Losses actual losses of the Funds Insureds exceeds the Fidelity Coveragetotal amount of coverage provided under the Bond, then any Fund Insured which has suffered an amount of Actual Loss actual loss less than or equal to its Minimum Coverage Requirement minimum coverage requirements shall be entitled to recover its Actual Lossactual loss. If only one other Fund Insured has suffered Actual Lossactual loss, it shall be entitled to recover the remainder of the amount of the Fidelity Coverage remainingcoverage under the Bond. If more than one other Fund Insured has suffered Actual Loss actual loss in excess of the remaining coverage, then they shall allocate such remaining amount of coverage in accordance with Section III(bparagraph (b) of this AgreementSection 2.

Allocation of Recovery. Under the Bond In the event Actual Loss an actual pecuniary loss is suffered by any two or more of the FundsInsureds under circumstances covered by the terms of the Bond, any recovery under the Bond will shall be allocated among such Funds in the following mannerInsureds as follows: a. (a) If the Fidelity Coverage total amount of coverage provided under the Bond exceeds or is equal to the amount of the combined Actual Losses total amount of loss suffered by the Funds Insureds suffering Actual Lossthe loss, then each such Fund Insured shall be entitled to recover the amount of its Actual Lossactual loss. b. (b) If the amount of Actual Loss of loss suffered by each Fund Insured suffering Actual Loss loss exceeds its Minimum Coverage Requirement minimum coverage requirement as set forth in Section 1. hereof and the amount of the Funds' such Insureds’ combined Actual Losses actual losses exceeds the Fidelity Coveragetotal amount of coverage provided under the Bond, then each Fund such Insured shall be entitled to recover (i) its Minimum Coverage Requirementminimum coverage requirement, and (ii) to the extent there exists Excess Coverageany excess coverage, the proportion of the Excess Coverage which such excess coverage that its Minimum Coverage Requirement minimum requirement bears to the amount of the combined Minimum Coverage Requirements minimum coverage requirements of the Funds Insureds suffering Actual Lossactual loss; provided, however, that if the Actual Loss actual loss of any of such Funds Insureds is less than the sum of (i) and (ii) of this subpart (b)above, then such difference shall be recoverable by the other Funds Insured or Insureds in proportion to their relative Minimum Coverage Requirementsminimum coverage requirements. c. (c) If (i) the amount of Actual Loss actual loss suffered by any Fund Insured is less than or equal to its Minimum Coverage Requirementminimum coverage requirement, (ii) the amount of Actual Loss actual loss of another Insured or the other Funds Insureds exceeds its or their Minimum Coverage Requirement(s) minimum coverage requirement or requirements, and (iii) the amount of the combined Actual Losses actual losses of the Funds Insureds exceeds the Fidelity Coveragetotal amount of coverage provided under the Bond, then any Fund which Insured that has suffered an amount of Actual Loss actual loss less than or equal to its Minimum Coverage Requirement minimum coverage requirement shall be entitled to recover its Actual Lossactual loss. If only one other Fund Insured has suffered Actual Lossactual loss, it shall be entitled to recover the remainder of the amount of the Fidelity Coverage remainingcoverage under the bond. If more than one other Fund Insured has suffered Actual Loss actual loss in excess of the remaining coverage, then they shall allocate such remaining amount of coverage in accordance with Section III(bparagraph (b) of this Agreementsection 2.

Allocation of Recovery. Under the Bond In the event Actual Loss an actual pecuniary loss is suffered by any two or more of the FundsFunds under circumstances covered by the terms of the Bond, any recovery under the Bond will shall be allocated among such Funds in the following manneras follows: a. (a) If the Fidelity Coverage total amount of coverage provided under the Bond exceeds or is equal to the amount of the combined Actual Losses total amount of loss suffered by the Funds suffering Actual Lossloss, then each such Fund shall be entitled to recover the amount of its Actual Lossactual loss. b. (b) If the amount of Actual Loss of loss suffered by each Fund suffering Actual Loss loss exceeds its Minimum Coverage Requirement minimum coverage requirements as set forth in Section 1 hereof and the amount of the such Funds' ’ combined Actual Losses actual losses exceeds the Fidelity Coveragetotal amount of coverage provided under the Bond, then each such Fund shall be entitled to recover (i) its Minimum Coverage Requirementminimum coverage requirement, and (ii) to the extent there exists Excess Coverageany excess coverage, the proportion of the Excess Coverage such excess coverage which its Minimum Coverage Requirement minimum coverage requirement bears to the amount of the combined Minimum Coverage Requirements minimum coverage requirements of the Funds suffering Actual Lossactual loss; provided, however, that if the Actual Loss actual loss of any of such Funds is less than the sum of (i) and (ii) of this subpart (b)above, then such difference shall be recoverable by the other Fund or Funds in proportion to their relative Minimum Coverage Requirementsminimum coverage requirements. c. (c) If (i) the amount of Actual Loss actual loss suffered by any Fund is less than or equal to its Minimum Coverage Requirementminimum coverage requirement, (ii) the amount of Actual Loss actual loss of another Fund or the other Funds exceeds its or their Minimum Coverage Requirement(s) minimum coverage requirement or requirements, and (iii) the amount of the combined Actual Losses actual losses of the Funds exceeds the Fidelity Coveragetotal amount of coverage provided under the Bond, then any Fund which has suffered an amount of Actual Loss actual loss less than or equal to its Minimum Coverage Requirement minimum coverage requirement shall be entitled to recover its Actual Lossactual loss. If only one other Fund has suffered Actual Lossactual loss, it shall be entitled to recover the remainder of the amount of the Fidelity Coverage remainingcoverage under the Bond. If more than one other Fund has suffered Actual Loss actual loss in excess of the remaining coverage, they then the affected Funds shall allocate such remaining amount of coverage in accordance with Section III(bparagraph (b) of this AgreementSection 2.

Allocation of Recovery. Under the Bond In the event Actual Loss an actual pecuniary loss is suffered by any two or more of the FundsInsureds under circumstances covered by the terms of the Bond, any recovery under the Bond will shall be allocated among between such Funds in the following mannerInsureds as follows: a. (a) If the Fidelity Coverage total amount of coverage provided under the Bond exceeds or is equal to the amount of the combined Actual Losses total amount of loss suffered by the Funds Insureds suffering Actual Lossloss, then each such Fund Insured shall be entitled to recover the amount of its Actual Lossactual loss. b. (b) If the amount of Actual Loss of loss suffered by each Fund Insured suffering Actual Loss loss exceeds its Minimum Coverage Requirement minimum coverage requirement as set forth in Section 1 hereof and the amount of the Funds' such Insureds’ combined Actual Losses actual losses exceeds the Fidelity Coveragetotal amount of coverage provided under the Bond, then each Fund such Insured shall be entitled to recover (i) its Minimum Coverage Requirement, minimum coverage requirement and (ii) to the extent there exists Excess Coverageany excess coverage, the proportion of the Excess Coverage such excess coverage which its Minimum Coverage Requirement minimum coverage requirement bears to the amount of the combined Minimum Coverage Requirements minimum coverage requirements of the Funds Insureds suffering Actual Lossactual loss; provided, however, that if the Actual Loss actual loss of any of such Funds Insureds is less than the sum of (i) and (ii) of this subpart (b)above, then such difference shall be recoverable by the other Funds Insured(s) in proportion to their its relative Minimum Coverage Requirementsminimum coverage requirement. c. (c) If (i) the amount of Actual Loss actual loss suffered by any Fund an Insured is less than or equal to its Minimum Coverage Requirementminimum coverage requirement, (ii) the amount of Actual Loss actual loss of the other Funds Insured exceeds its or their Minimum Coverage Requirement(s) minimum coverage requirement and (iii) the amount of the combined Actual Losses actual losses of the Funds Insureds exceeds the Fidelity Coveragetotal amount of coverage provided under the Bond, then any Fund the Insured which has suffered an amount of Actual Loss actual loss less than or equal to its Minimum Coverage Requirement minimum coverage requirement shall be entitled to recover its Actual Lossactual loss. If only one the other Fund Insured has suffered Actual Lossactual loss, it shall be entitled to recover the remainder of the amount of the Fidelity Coverage remaining. If more than one other Fund has suffered Actual Loss in excess of coverage under the remaining coverage, they shall allocate such remaining coverage in accordance with Section III(b) of this AgreementBond.

Allocation of Recovery. Under the Bond In the event Actual Loss is suffered by any two or more of the Funds, any recovery under the Bond will be allocated among such Funds in the following manner: a. If the Fidelity Coverage exceeds or is equal to the amount of the combined Actual Losses of the Funds suffering Actual Loss, then each such Fund Party shall be entitled to recover the amount of its Actual Loss. b. If the amount of Actual Loss of each Fund Party suffering Actual Loss exceeds its Minimum Coverage Requirement Requirements and the amount of the Funds' combined Actual Losses exceeds the Fidelity Coverage, then each Fund Party shall be entitled to recover (i) its Minimum Coverage Requirement, and (ii) to the extent there exists Excess Coverage, the proportion of the Excess Coverage which its Minimum Coverage Requirement bears to the amount of the combined Minimum Coverage Requirements of the Funds suffering Actual Acutal Loss; provided, however, that if the Actual Loss of any of such Funds is less than that the sum of (i) and (ii) of this subpart (b), then such difference shall be recoverable by the other Funds in proportion to their relative Minimum Coverage Requirements. c. If (i) the amount of Actual Loss suffered by any Fund is less than or equal to its Minimum Coverage Requirement, (ii) the amount of Actual Loss of the other Funds exceeds its or their Minimum Coverage Requirement(s) and (iii) the amount of the combined Actual Losses of the Funds exceeds the Fidelity Coverage, then any Fund which has suffered an amount of Actual Loss less than or equal to its Minimum Coverage Requirement shall be entitled to recover its Actual Loss. If only one other Fund has suffered Actual Loss, it shall be entitled to recover the amount of the Fidelity Coverage remaining. If more than one other Fund has suffered Actual Loss in excess of the remaining coverage, they shall allocate such remaining coverage in accordance with Section III(b) of this Agreement.

Allocation of Recovery. Under the Bond In the event Actual Loss an actual pecuniary loss is suffered by any two or more of the FundsInsureds under circumstances covered by the Bond, any recovery under the Bond will shall be allocated among such Funds in the following mannerInsureds as follows: a. If the Fidelity Coverage total amount of coverage provided under the Bond exceeds or is equal to the amount of the combined Actual Losses of total loss suffered by the Funds Insureds suffering Actual Lossthe loss, then each such Fund Insured shall be entitled to recover the amount of its Actual Lossactual loss. b. If the amount of Actual Loss of loss suffered by each Fund Insured suffering Actual Loss loss exceeds its Minimum Coverage Requirement minimum coverage requirement as set forth in Section 1 hereof and the amount of the Funds' such Insureds’ combined Actual Losses actual losses exceeds the Fidelity Coveragetotal amount of coverage under the Bond, then each Fund such Insured shall be entitled to recover (i) its Minimum Coverage Requirementminimum coverage requirement, and (ii) to the extent there exists Excess Coverageany excess coverage, the proportion of the Excess Coverage which such excess coverage that its Minimum Coverage Requirement minimum coverage requirement bears to the amount of the combined Minimum Coverage Requirements minimum coverage requirements of the Funds Insureds suffering Actual Lossactual loss; provided, however, that if the Actual Loss actual loss of any of such Funds Insureds is less than the sum of (i) and (ii) of this subpart (b)above, then such difference shall be recoverable by the other Funds Insured or Insureds in proportion to their relative Minimum Coverage Requirementsminimum coverage requirements. c. If (i) the amount of Actual Loss actual loss suffered by any Fund Insured is less than or equal to its Minimum Coverage Requirementminimum coverage requirement, (ii) the amount of Actual Loss actual loss of the another Insured or other Funds Insureds exceeds its or their Minimum Coverage Requirement(s) minimum coverage requirements, and (iii) the amount of the combined Actual Losses actual losses of the Funds Insureds exceeds the Fidelity Coveragetotal amount of coverage provided under the Bond, then any Fund which Insured that has suffered an amount of Actual Loss actual loss less than or equal to its Minimum Coverage Requirement minimum coverage requirement shall be entitled to recover its Actual Lossactual loss. If only one other Fund Insured has suffered Actual Lossactual loss, it shall be entitled to recover the amount remainder of the Fidelity Coverage remainingcoverage under the Bond. If more than one other Fund Insured has suffered Actual Loss actual loss in excess of the remaining coverage, then they shall allocate such remaining amount of coverage in accordance with Section III(bparagraph (b) of this AgreementSection 2.

Allocation of Recovery. Under the Bond In the event Actual Loss an actual pecuniary loss is suffered by any two or more of the FundsInsureds under circumstances covered by the terms of the Bond, any recovery under the Bond will shall be allocated among such Funds in the following mannerInsureds as follows: a. If the Fidelity Coverage total amount of coverage provided under the Bond exceeds or is equal to the amount of the combined Actual Losses total amount of loss suffered by the Funds Insureds suffering Actual Lossloss, then each such Fund Insured shall be entitled to recover the amount of its Actual Lossactual loss. b. If the amount of Actual Loss of loss suffered by each Fund Insured suffering Actual Loss loss exceeds its Minimum Coverage Requirement minimum coverage requirements as set forth in Section 1 hereof and the amount of the Funds' such Insureds’ combined Actual Losses actual losses exceeds the Fidelity Coveragetotal amount of coverage provided under the Bond, then each Fund such Insured shall be entitled to recover (i) its Minimum Coverage Requirement, and minimum coverage requirement (ii) to the extent there exists Excess Coverageany excess coverage, the proportion of the Excess Coverage such excess coverage which its Minimum Coverage Requirement minimum coverage requirement bears to the amount of the combined Minimum Coverage Requirements minimum coverage requirements of the Funds Insureds suffering Actual Lossactual loss; provided, however, that if the Actual Loss actual loss of any of such Funds Insureds is less than the sum of (i) and (ii) of this subpart (b)above, then such difference shall be recoverable by the other Funds Insured or Insureds in proportion to their relative Minimum Coverage Requirementsminimum coverage requirements. c. If (i) the amount of Actual Loss actual loss suffered by any Fund Insured is less than or equal to its Minimum Coverage Requirementminimum coverage requirement, (ii) the amount of Actual Loss actual loss of another Insured or the other Funds Insureds exceeds its or their Minimum Coverage Requirement(s) minimum coverage requirement or requirements, and (iii) the amount of the combined Actual Losses actual losses of the Funds Insureds exceeds the Fidelity Coveragetotal amount of coverage provided under the Bond, then any Fund Insured which has suffered an amount of Actual Loss actual loss less than or equal to its Minimum Coverage Requirement minimum coverage requirement shall be entitled to recover its Actual Lossactual loss. If only one other Fund Insured has suffered Actual Lossactual loss, it shall be entitled to recover the remainder of the amount of the Fidelity Coverage remainingcoverage under the Bond. If more than one other Fund Insured has suffered Actual Loss actual loss in excess of the remaining coverage, then they shall allocate such remaining amount of coverage in accordance with Section III(b) Paragraph b of this AgreementSection 2.

Allocation of Recovery. Under the Bond ------------------------------------- In the event Actual Loss is suffered by any two or more of the Funds, any recovery under the Bond will be allocated among such Funds in the following manner: a. A. If the Fidelity Coverage exceeds or is equal to the amount of the combined Actual Losses of the Funds suffering Actual Loss, then each such Fund shall be entitled to recover the amount of its Actual Loss. b. B. If the amount of Actual Loss of each Fund suffering Actual Loss exceeds its Minimum Coverage Requirement and the amount of the Funds' combined Actual Losses exceeds the Fidelity Coverage, then each Fund shall be entitled to recover (i) its Minimum Coverage Requirement, and (ii) to the extent there exists Excess Coverage, the proportion of the Excess Coverage which its Minimum Coverage Requirement bears to the amount of the combined Minimum Coverage Requirements of the Funds suffering Actual Loss; provided, however, that if the Actual Loss of any one of such the Funds is less than the sum of (i) and its Minimum Coverage Requirement plus the Excess Coverage allocable to such Fund under (ii) of this subpart (b)section III.B., then such difference the remaining Excess Coverage shall be recoverable by allocable to the other Fund or Funds in proportion to their relative Minimum Coverage Requirements. c. C. If (i) the amount of Actual Loss suffered by any Fund is less than or equal to its Minimum Coverage Requirement, (ii) the amount of Actual Loss of the another Fund or other Funds exceeds its or their Minimum Coverage Requirement(s) and (iii) the amount of the combined Actual Losses of the Funds exceeds the Fidelity Coverage, then any Fund which has suffered an amount of Actual Loss less than or equal to its Minimum Coverage Requirement shall be entitled to recover its Actual Loss. If only one other Fund has suffered Actual Loss, it shall be entitled to recover the amount of the Fidelity Coverage remaining. If more than one other Fund has suffered Actual Loss in excess of the remaining coverage, they shall allocate such remaining coverage in accordance with Section III(b) section III.B. of this Agreement.

Allocation of Recovery. Under the Bond In the event Actual Loss an actual pecuniary loss is suffered by any two or more of the FundsInsureds under circumstances covered by the Bond, any recovery under the Bond will shall be allocated among such Funds in the following mannerInsureds as follows: a. If the Fidelity Coverage total amount of coverage provided under the Bond exceeds or is equal to the amount of the combined Actual Losses of total loss suffered by the Funds Insureds suffering Actual Lossthe loss, then each such Fund Insured shall be entitled to recover the amount of its Actual Lossactual loss. b. If the amount of Actual Loss of loss suffered by each Fund Insured suffering Actual Loss loss exceeds its Minimum Coverage Requirement minimum coverage requirement as set forth in Section 1 hereof and the amount of the Funds' such Insureds’ combined Actual Losses actual losses exceeds the Fidelity Coveragetotal amount of coverage under the Bond, then each Fund such Insured shall be entitled to recover (i) its Minimum Coverage Requirementminimum coverage requirement, and (ii) to the extent there exists Excess Coverageany excess coverage, the proportion of the Excess Coverage which such excess coverage that its Minimum Coverage Requirement minimum coverage requirement bears to the amount of the combined Minimum Coverage Requirements minimum coverage requirements of the Funds Insureds suffering Actual Lossactual loss; provided, however, that if the Actual Loss actual loss of any of such Funds Insureds is less than the sum of (i) and (ii) of this subpart (b)above, then such difference shall be recoverable by the other Funds Insured in proportion to their relative Minimum Coverage Requirementsits minimum coverage requirements. c. If If (i) the amount of Actual Loss actual loss suffered by any Fund Insured is less than or equal to its Minimum Coverage Requirementminimum coverage requirement, (ii) the amount of Actual Loss actual loss of the other Funds Insured exceeds its or their Minimum Coverage Requirement(s) minimum coverage requirements, and (iii) the amount of the combined Actual Losses actual losses of the Funds Insureds exceeds the Fidelity Coveragetotal amount of coverage provided under the Bond, then any Fund which Insured that has suffered an amount of Actual Loss actual loss less than or equal to its Minimum Coverage Requirement minimum coverage requirement shall be entitled to recover its Actual Lossactual loss. If only one The other Fund Insured that has suffered Actual Loss, it actual loss shall be entitled to recover the amount remainder of the Fidelity Coverage remainingcoverage under the Bond. If more than one other Fund d. Notwithstanding anything to the foregoing, no Insured shall receive any recovery until each Insured has suffered Actual Loss in excess of at least received at least the remaining coverage, they shall allocate such remaining amount it would have received had it provided and maintained a single insured bond with each Insured’s minimum coverage in accordance with Section III(b) of this Agreementrequirements.