Common use of Classes of Shares Clause in Contracts

Classes of Shares. Without limitation of any other powers accorded to them by this Declaration or otherwise, the Trustees shall have power, at any time or from time to time, and without the necessity for any Shareholder approval, by vote of a Majority of the Trustees, to authorize two or more separate Classes of Shares of any Existing Series, or any Additional Series initially authorized without Classes, or to classify or reclassify any unissued Shares of any Series, or any Shares of any Series previously issued and reacquired by the Trust (including in either case Shares of the Existing Portfolios) into any number of additional Classes of such Series, as they deem necessary or desirable, and in either such connection to fix and determine the relative rights and burdens of Shares of the respective Classes of such Series as to sales charges, redemption charges or other fees and charges, allocations of expenses, conversion rights, and conditions under which Shareholders of the several Classes shall have separate voting rights or (subject to Article 7 hereof) no voting rights. Any such authorization of Classes or reclassification of Shares shall be effective upon the execution by a Majority of the Trustees (or by an officer of the Trust pursuant to the vote of a Majority of the Trustees) and the deposit among the records of the Trust of an instrument setting forth such provisions and the manner in which the same may be amended. At any time at which no Shares of a particular Class and no Shares of any other Class which are convertible into Shares of such Class are outstanding, the Trustees may terminate such Class. Any such termination of a Class shall be effective upon the execution by a Majority of the Trustees (or by an officer of the Trust pursuant to the vote of a Majority of the Trustees) and the deposit among the records of the Trust of an instrument stating that such Class is terminated. The differing rights and obligations of each Class of Shares shall be set forth in the Prospectus under which the Shares of such Class are sold, and the Trustees may not change such rights and obligations in a manner adverse to the holders of outstanding Shares of such Class, or grant any preferences over such Class to the holders of shares of any other Class without the affirmative vote or consent of the holders of “a majority of the outstanding voting securities” of such Class, as the quoted phrase is used in the 1940 Act.

Classes of Shares. Without limitation of any other powers accorded to them by this Declaration or otherwise, the Trustees shall have power, at any time or from time to time, and without the necessity for any Shareholder approval, by vote of a Majority of the Trustees, to authorize two or more separate Classes of Shares of any Existing Series, or any Additional Series initially authorized without Classes, or to classify or reclassify any unissued Shares of any Series, or any Shares of any Series previously issued and reacquired by the Trust (including in either case Shares of the Existing Portfolios) into any number of additional Classes of such Series, as they deem necessary or desirable, and in either such connection to fix and determine the relative rights and burdens of Shares of the respective Classes of such Series as to sales charges, redemption charges or other fees and charges, allocations of expenses, conversion rights, and conditions under which Shareholders of the several Classes shall have separate voting rights or (subject to Article 7 6 hereof) no voting rights. Any such authorization of Classes or reclassification of Shares shall be effective upon the execution by a Majority of the Trustees (or by an officer of the Trust pursuant to the vote of a Majority of the Trustees) and the deposit among the records of the Trust of an instrument setting forth such provisions and the manner in which the same may be amended. At any time at which no Shares of a particular Class and no Shares of any other Class which are convertible into Shares of such Class are outstanding, the Trustees may terminate such Class. Any such termination of a Class shall be effective upon the execution by a Majority of the Trustees (or by an officer of the Trust pursuant to the vote of a Majority of the Trustees) and the deposit among the records of the Trust of an instrument stating that such Class is terminated. The differing rights and obligations of each Class of Shares shall be set forth in the Prospectus under which the Shares of such Class are sold, and the Trustees may not change such rights and obligations in a manner adverse to the holders of outstanding Shares of such Class, or grant any preferences over such Class to the holders of shares of any other Class without the affirmative vote or consent of the holders of “a majority of the outstanding voting securities” of such Class, as the quoted phrase is used in the 1940 Act.

Classes of Shares. Without limitation of any other powers accorded to them by this Declaration or otherwise, the Trustees shall have power, at any time or from time to time, and without the necessity for any Shareholder approval, by vote of a Majority of the Trustees, to authorize two or more separate Classes of Shares of any Existing Series, or any Additional Series initially authorized without Classes, or to classify or reclassify any unissued Shares of any Series, or any Shares of any Series previously issued and reacquired by the Trust (including in either case Shares of the Existing PortfoliosFunds) into any number of additional Classes of such Series, as they deem necessary or desirable, and in either such connection to fix and determine the relative rights and burdens of Shares of the respective Classes of such Series as to sales charges, redemption charges or other fees and charges, allocations of expenses, conversion rights, and conditions under which Shareholders of the several Classes shall have separate voting rights or (subject to Article 7 VII hereof) no voting rights. Any such authorization of Classes or reclassification of Shares shall be effective upon the execution by a Majority of the Trustees (or by an officer of the Trust pursuant to the vote of a Majority of the Trustees) and the deposit among the records of the Trust of an instrument setting forth such provisions and the manner in which the same may be amended. At any time at which no Shares of a particular Class and no Shares of any other Class which are convertible into Shares of such Class are outstanding, the Trustees may terminate such Class. Any such termination of a Class shall be effective upon the execution by a Majority of the Trustees (or by an officer of the Trust pursuant to the vote of a Majority of the Trustees) and the deposit among the records of the Trust of an instrument stating that such Class is terminated. The differing rights and obligations of each Class of Shares shall be set forth in the Prospectus or Statement of Additional Information under which the Shares of such Class are sold, and the Trustees may not change such rights and obligations in a manner adverse to the holders of outstanding Shares of such Class, or grant any preferences over such Class to the holders of shares Shares of any other Class without the affirmative vote or consent of the holders of “‘a majority of the outstanding voting securities” ’ of such Class, as the quoted phrase is used in the 1940 Act.

Classes of Shares. Without limitation of any In addition to all other powers accorded to them by set forth in this Declaration or otherwiseof Trust, including without limitation the power to establish and designate Sub-Trusts in accordance with Section 4.2, the Trustees shall have exclusive power, at any time or from time to time, and without the necessity for any requirement of Shareholder approval, by vote of a Majority of the Trustees, to authorize two or more separate Classes issue classes of Shares of any Existing Series, Sub-Trust or any Additional Series initially authorized without Classes, or to classify or reclassify any unissued divide the Shares of any SeriesSub-Trust into classes, provided that such issuance or any Shares division does not adversely affect the rights of any Series previously issued shareholder, each class having such different dividend, liquidation, voting and reacquired by other rights and characteristics as the Trust (including in either case Shares of the Existing Portfolios) into any number of additional Classes of such Series, as they deem necessary or desirableTrustees may determine, and in either such connection to fix may establish and determine designate the relative rights and burdens specific classes of Shares of the respective Classes each Sub-Trust. The fact that a Sub-Trust shall have initially been established and designated without any specific establishment or designation of classes (i.e., that all Shares of such Series as to sales chargesSub-Trust are initially of a single class), redemption charges or other fees that a Sub-Trust shall have more than one established and chargesdesignated class, allocations of expenses, conversion rights, and conditions under which Shareholders shall not limit the authority of the several Classes shall have Trustees to establish and designate separate voting rights classes, or (subject to Article 7 hereof) no voting rightsone or more additional classes, of said Sub-Trust, or previously established and designated class or classes thereof. Any such authorization The establishment and designation of Classes or reclassification any class of Shares of a Sub-Trust shall be effective upon the execution by a Majority majority of the then Trustees (or by an officer of the Trust pursuant to the vote of a Majority majority of the Trustees) and the deposit among the records of the Trust of an instrument setting forth such provisions establishment and designation of the manner relative rights and preferences of such class of Shares, or as otherwise provided in which the same may be amendedsuch instrument. At any time at which that there are no Shares outstanding of any particular class of a particular Class Sub-Trust previously established and no Shares of any other Class which are convertible into Shares of such Class are outstandingdesignated, the Trustees may terminate such Class. Any such termination of a Class shall be effective upon the execution may, by an instrument executed by a Majority majority of the Trustees their number (or by an officer of the Trust pursuant to the vote of a Majority majority of the Trustees) ), abolish that class and the deposit among establishment and designation thereof. Each instrument referred to in this paragraph shall have the records of the Trust status of an instrument stating that such Class is terminatedamendment to this Declaration of Trust. The differing rights and obligations of each Class of Shares If the Trustees shall be set forth in the Prospectus under which divide the Shares of such Class are soldany Sub-Trust into two or more classes, and the Trustees may not change such rights and obligations following provisions shall be applicable in a manner adverse to the holders of outstanding Shares of such Class, or grant any preferences over such Class to the holders of shares of any other Class without the affirmative vote or consent of the holders of “a majority of the outstanding voting securities” of such Class, as the quoted phrase is used in the 1940 Act.respect thereof: