Common use of Distributions of Net Income Clause in Contracts

Distributions of Net Income. The Trustees shall each year, or more frequently if they so determine in their sole discretion, distribute to the Shareholders of each Series, in shares of that Series, cash or otherwise, an amount approximately equal to the net income attributable to the assets belonging to such Series and may from time to time distribute to the Shareholders of each Series, in shares of that Series, cash or otherwise, such additional amounts, but only from the assets belonging to such Series, as they may authorize. All dividends and distributions on Shares of a particular Series shall be distributed pro rata to the holders of that Series in proportion to the number of Shares of that Series held by such holders and recorded on the books of the Trust at the date and time of record established for that payment of such dividend or distributions. The manner of determining net income, income, asset values, capital gains, expenses, liabilities and reserves of any Series may from time to time be altered as necessary or desirable in the judgment of the Trustees to conform such manner of determination to any other method prescribed or permitted by applicable law. Net income shall be determined by the Trustees or by such person as they may authorize at the times and in the manner provided in the By-Laws. Determinations of net income of any Series and determination of income, asset value, capital gains, expenses, and liabilities made by the Trustees, or by such person as they may authorize, in good faith, shall be binding on all parties concerned. The foregoing sentence shall not be construed to protect any Trustee, officer or agent of the Trust against any liability to the Trust or its security holders to which he would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of his office. If, for any reason, the net income of any Series determined at any time is a negative amount, the pro rata share of such negative amount allocable to each Shareholder of such Series shall constitute a liability of such Shareholder to that Series which shall be paid out of such Shareholder's account at such times and in such manner as the Trustees may from time to time determine (x) out of the accrued dividend account of such Shareholder, (y) by reducing the number of Shares of that Series in the account of such Shareholder, or (z) otherwise.

Distributions of Net Income. The Trustees shall may each year, or more frequently if they so determine in their sole discretiondetermine, distribute to the Shareholders of each Series out of the assets of such Series such amounts as the Trustees may determine. Except as otherwise permitted by Section 6 of Article III in the case of Multi-Class Series, in shares of that Series, cash or otherwise, an amount approximately equal to the net income attributable to the assets belonging to such Series and may from time to time distribute to the Shareholders of each Series, in shares of that Series, cash or otherwise, such additional amounts, but only from the assets belonging to such Series, as they may authorize. All all dividends and distributions on Shares of a particular Series shall be distributed pro rata to the holders of that Series in proportion to the number of Shares of that Series held by such holders and recorded on the books of the Trust at the date and time of record established for that payment of such dividend or distributions. The manner of determining net income, income, asset values, capital gains, expenses, liabilities and reserves of any Series or class may from time to time be altered as necessary or desirable in the judgment of the Trustees to conform such manner of determination to any other method prescribed or permitted by applicable law. Net income shall be determined by the Trustees or by such person as they may authorize at the times and in the manner provided in the By-LawsLaws or otherwise. Determinations of net income of any Series or class and determination determinations of income, asset value, capital gains, expenses, expenses and liabilities made by the Trustees, or by such person as they may authorize, in good faith, shall be binding on all parties concerned. The foregoing sentence shall not be construed to protect any Trustee, officer or agent of the Trust against any liability to the Trust or its security holders to which he or she would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of his or her office. If, for any reason, the net income of any Series or class determined at any time is a negative amount, the pro rata share of such negative amount allocable to each Shareholder of such Series or class shall constitute a liability of such Shareholder to that Series or class which shall be paid out of such Shareholder's ’s account at such times and in such manner as the Trustees may from time to time determine (x) out of the accrued dividend account of such Shareholder, (y) by reducing the number of Shares of that Series or class in the account of such Shareholder, Shareholder or (z) otherwise.

Distributions of Net Income. The Trustees shall each year, --------- --------------------------- or more frequently if they so determine in their sole discretion, distribute to the Shareholders of each Series, in shares of that Series, cash or otherwise, an amount approximately equal to the net income attributable to the assets belonging to such Series and may from time to time distribute to the Shareholders of each Series, in shares of that Series, cash or otherwise, such additional amounts, but only from the assets belonging to such Series, as they may authorize. All dividends and distributions on Shares of a particular Series shall be distributed pro rata to the holders of that Series in proportion to the number of Shares of that Series held by such holders and recorded on the books of the Trust at the date and time of record established for that payment of such dividend or distributionsdistribution. The manner of determining net income, income, asset values, capital gains, expenses, liabilities and reserves of any Series may from time to time be altered as necessary or desirable in the judgment of the Trustees to conform such manner of determination to any other method prescribed or permitted by applicable law. Net income shall be determined by the Trustees or by such person as they may authorize at the times and in the manner provided in the By-By- Laws. Determinations of net income of any Series and determination determinations of income, asset value, capital gains, expenses, expenses and liabilities made by the Trustees, or by such person as they may authorize, in good faith, shall be binding on all parties concerned. The foregoing sentence shall not be construed to protect any Trustee, officer or agent of the Trust against any liability to the Trust or its security holders to which he would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of his office. If, for any reason, the net income of any Series determined at any time is a negative amount, the pro rata share of such negative amount allocable to each Shareholder of such Series shall constitute a liability of such Shareholder to that Series which shall be paid out of such Shareholder's Shareholders' account at such times and in such manner as the Trustees may from time to time determine (x) out of the accrued dividend account of such Shareholder, (y) by reducing the number of Shares of that Series in the account of such Shareholder, Shareholder or (z) otherwise.

Distributions of Net Income. The Trustees shall each year, or more frequently if they so determine in their sole discretion, distribute to the Shareholders of each Series, in shares of that Series, cash or otherwise, an amount approximately equal to the net income attributable to the assets belonging to such Series and may from time to time distribute to the Shareholders of each Series, in shares of that Series, cash or otherwise, such additional amounts, but only from the assets belonging to such Series, as they may authorize. All dividends and distributions on Shares of a particular Series shall be distributed pro rata to the holders of that Series in proportion to the number of Shares of that Series held by such holders and recorded on the books of the Trust at the date and time of record established for that payment of such dividend or distributions. The manner of determining net income, income, asset values, capital gains, expenses, liabilities and reserves of any Series may from time to time be altered as necessary or desirable in the judgment of the Trustees to conform such manner of determination to any other method prescribed or permitted by applicable law. Net income shall be determined by the Trustees or by such person or persons as they may authorize at the times and in the manner provided in the By-LawsBylaws. Determinations of net income of any Series and determination determinations of income, asset value, capital gains, expenses, and liabilities made by the Trustees, or by such person or persons as they may authorize, in good faith, shall be binding on all parties concerned. The foregoing sentence shall not be construed to protect any Trustee, officer or agent of the Trust against any liability to the Trust or its security holders to which he or she would otherwise be subject by reason of self-dealing, willful misfeasance, bad faith, gross negligence misconduct or reckless disregard of the duties involved in the conduct of his officerecklessness. If, for any reason, the net income of any Series determined at any time is a negative amount, the pro rata share of such negative amount allocable to each Shareholder of such Series shall constitute a liability of such Shareholder to that Series which shall be paid out of such Shareholder's ’s account at such times and in such manner as the Trustees may from time to time determine (x) out of the accrued dividend account of such Shareholder, (y) by reducing the number of Shares of that Series in the account of such Shareholder, Shareholder or (z) otherwise.

Distributions of Net Income. The Trustees shall each year, or more frequently if they so determine may in their sole discretion, distribute to the Shareholders of each SeriesShareholders, in shares of that Seriesshares, cash or otherwise, an amount approximately equal to the Trust's net income attributable to the assets belonging to such Series and may from time to time distribute to the Shareholders of each Series, in shares of that Series, cash or otherwise, such additional amounts, but only from the assets belonging to such Series, as they may authorize. All dividends and distributions on Shares of a particular Series shall be distributed pro rata to the holders of that Series in proportion to the number of Shares of that Series held by such holders and recorded on the books of the Trust at the date and time of record established for that payment of such dividend or distributions. The manner of determining net income, income, asset values, capital gains, expenses, liabilities and reserves of any Series may from time to time be altered as necessary or desirable in the judgment of the Trustees to conform such manner of determination to any other method prescribed or permitted by applicable law. Net income shall be determined by the Trustees or by such person as they may authorize at the times and in the manner provided in the By-LawsBylaws. Determinations of net income of any Series and determination of income, asset valuevalues, capital gains, expenses, and liabilities made by the Trustees, or by such person as they may authorize, in good faith, shall be binding on all parties concerned. The foregoing sentence shall not be construed to protect any Trustee, officer or agent of the Trust against any liability to the Trust or its security holders to which he would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of his office. If, for any reason, the net income of any Series determined at any time is a negative amount, in the discretion of the Trustees the pro rata share of such negative amount allocable to each Shareholder of such Series shall may constitute a liability of such Shareholder to that Series which shall be paid out of such Shareholder's account at such times and in such manner as the Trustees may from time to time determine (x) out of the accrued dividend account of such Shareholder, (y) by reducing the number of Shares of that Series in the account of such Shareholder, or (z) otherwise.

Distributions of Net Income. The Trustees shall each year, --------- --------------------------- or more frequently if they so determine in their sole discretion, distribute to the Shareholders of each Series, in shares of that Series, cash or otherwise, an amount approximately equal to the net income attributable to the assets belonging to such Series and may from time to time distribute to the Shareholders of each Series, in shares of that Series, cash or otherwise, such additional amounts, but only from the assets belonging to such Series, as they may authorize. All dividends and distributions on Shares of a particular Series shall be distributed pro rata to the holders of that Series in proportion to the number of Shares of that Series held by such holders and recorded on the books of the Trust at the date and time of record established for that payment of such dividend or distributions. The manner of determining net income, income, asset values, capital gains, expenses, liabilities and reserves of any Series may from time to time be altered as necessary or desirable in the judgment of the Trustees to conform such manner of determination to any other method prescribed or permitted by applicable law. Net income shall be determined by the Trustees or by such person or persons as they may authorize at the times and in the manner provided in the By-LawsBylaws. Determinations of net income of any Series and determination determinations of income, asset value, capital gains, expenses, and liabilities made by the Trustees, or by such person or persons as they may authorize, in good faith, shall be binding on all parties concerned. The foregoing sentence shall not be construed to protect any Trustee, officer or agent of the Trust against any liability to the Trust or its security holders to which he or she would otherwise be subject by reason of self-dealing, willful misfeasance, bad faith, gross negligence misconduct or reckless disregard of the duties involved in the conduct of his officerecklessness. If, for any reason, the net income of any Series determined at any time is a negative amount, the pro rata share of such negative amount allocable to each Shareholder of such Series shall constitute a liability of such Shareholder to that Series which shall be paid out of such Shareholder's account at such times and in such manner as the Trustees may from time to time determine (x) out of the accrued dividend account of such Shareholder, (y) by reducing the number of Shares of that Series in the account of such Shareholder, Shareholder or (z) otherwise.

Distributions of Net Income. The Trustees shall each year, or more frequently if they so determine in their sole discretion, distribute to the Shareholders of each Seriesthe Trust or of a class, in shares of that SeriesShares, cash or otherwise, an amount approximately equal to the net income attributable to the assets of the Trust, or belonging to such Series class, and may from time to time distribute to the Shareholders of each Seriesthe Trust or of a class, in shares of that SeriesShares, cash or otherwise, such additional amounts, but only from the assets belonging to such Series, amounts as they may authorize. All Except as otherwise permitted by paragraph (a) of Section 6 of Article III, all dividends and distributions on Shares of a particular Series shall be distributed pro rata to the holders of that Series Shareholders in proportion to the number of Shares of that Series held by such holders Shareholders and recorded on the books of the Trust at the date and time of record established for that the payment of such dividend or distributions. The manner of determining net income, income, asset values, capital gains, expenses, liabilities and reserves of any Series class may from time to time be altered as necessary or desirable in the judgment of the Trustees to conform such manner of determination to any other method prescribed or permitted by applicable law. Net income shall be determined by the Trustees or by such person as they may authorize at the times and in the manner provided in the By-LawsBylaws. Determinations of net income of any Series class and determination determinations of income, asset value, capital gains, expenses, expenses and liabilities made by the Trustees, or by such person as they may authorize, in good faith, shall be binding on all parties concerned. The foregoing sentence shall not be construed to protect any Trustee, officer or agent of the Trust against any liability to the Trust or its security holders to which he or she would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of his or her office. If, for any reason, the net income of any Series class determined at any time is a negative amount, the pro rata share of such negative amount allocable to each Shareholder of such Series class shall constitute a liability of such Shareholder to that Series class which shall be paid out of such Shareholder's ’s account at such times and in such manner as the Trustees may from time to time determine (x) out of the accrued dividend account of such Shareholder, (y) by reducing the number of Shares of that Series class in the account of such Shareholder, Shareholder or (z) otherwise.