Common use of Contracts and Instruments; How Executed Clause in Contracts

Contracts and Instruments; How Executed. The Board, except as otherwise provided in these By-Laws, may authorize any officer or officers or agent or agents of the Trust, to enter into any agreement or execute and deliver any instrument in the name of the Trust on behalf of any Series, and such authority may be general or confined to specific instances; and, unless so authorized by the Board or by the Declaration of Trust or these By-Laws, no officer, agent, or employee shall have any power or authority to bind the Trust by any agreement, contract or engagement or to pledge its credit or to render it liable pecuniarily for any purpose or for any amount. Notwithstanding the foregoing, the President and any Vice President may enter into any agreement or execute and deliver any instrument in the name of the Fund on behalf of any Series without specific or general authorization by the Board if such agreement or written instrument is in the ordinary course of the Fund’s business and is routine or non-material.

Contracts and Instruments; How Executed. The Board, except as otherwise provided in these By-Laws, may authorize any officer or officers or agent or agents of the Trust, to enter into any agreement or execute and deliver any instrument in the name of the Trust on behalf of any Series, and such authority may be general or confined to specific instances; and, unless so authorized by the Board or by the Declaration of Trust or these By-Laws, no officer, agent, or employee shall have any power or authority to bind the Trust by any agreement, contract or engagement or to pledge its credit or to render it liable pecuniarily for any purpose or for any amount. Notwithstanding the foregoing, the President and any Vice President may enter into any agreement or execute and deliver any instrument in the name of the Fund on behalf of any Series without specific or general authorization by the Board if such agreement or written instrument is in the ordinary course of the Fund’s 's business and is routine or non-material.