Common use of Determination of Income and Loss in the Event of Transfer Clause in Contracts

Determination of Income and Loss in the Event of Transfer. In the event that a Shareholder transfers his interest in the Fund in accordance with the terms of this Agreement, the determination and allocation described in Section 7.1 shall be made as of the date of such transfer and thereafter all such allocations shall be made to the account of the transferee of such interest; provided, however, that the Fund may determine that such determination and allocation shall be pro rata to the Shareholders based upon the actual number of days in such Fiscal Year that each such Shareholder held an interest in the Fund. In the event of a pro rata determination and allocation, the foregoing provisions of this Section relating to a pro rata determination and allocation will not be applicable to the distributive shares, with respect to the Shares transferred, of items of Fund income, gain, expense, loss, deduction and credit arising out of (a) the sale or other disposition of all or substantially all Fund Property, or (b) other extraordinary nonrecurring items, all of which will be allocated to the holder of such Trust interest on the date such items of Fund income, gain, expense, loss, deduction and credit are earned or incurred.

Determination of Income and Loss in the Event of Transfer. In the event that a Shareholder transfers his interest in the Fund in accordance with the terms of this Agreement, the determination and allocation described in Section 7.1 shall be made as of the date of such transfer and thereafter all such allocations shall be made to the account of the transferee of such interest; provided, however, that the Fund may determine that such determination and allocation shall be pro rata to the Shareholders based upon the actual number of days in such Fiscal Year that each such Shareholder held an interest in the Fund. In the event of a pro rata determination and allocation, the foregoing provisions of this Section relating to a pro rata determination and allocation will not be applicable to the distributive shares, with respect to the Shares transferred, of items of Fund income, gain, expense, loss, deduction and credit arising out of (a) the sale or other disposition of all or substantially all Fund Property, or (b) other extraordinary nonrecurring items, all of which will be allocated to the holder of such Trust Fund interest on the date such items of Fund income, gain, expense, loss, deduction and credit are earned or incurred.

Determination of Income and Loss in the Event of Transfer. In in the event that a Shareholder transfers his interest in the Fund in accordance with the terms of this Agreement, the determination and allocation described in Section 7.1 shall be made as of the date of such transfer and thereafter all such allocations shall be made to the account of the transferee of such interest; provided, however, that the Fund may determine that such determination and allocation shall be pro rata to the Shareholders based upon the actual number of days in such Fiscal Year that each such Shareholder held an interest in the Fund. In the event of a pro rata determination and allocation, the foregoing provisions of this Section relating to a pro rata determination and allocation will not be applicable to the distributive shares, with respect to the Shares transferred, of items of Fund income, gain, expense, loss, deduction and credit arising out of (a) the sale or other disposition of all or substantially all Fund Property, or (b) other extraordinary nonrecurring items, all of which will be allocated to the holder of such Trust Fund interest on the date such items of Fund income, gain, expense, loss, deduction and credit are earned or incurred.