Common use of Establishment and Designation of Classes Clause in Contracts

Establishment and Designation of Classes. The establishment and designation of any Class shall be effective, without the requirement of Shareholder approval, upon the adoption of a resolution by not less than a majority of the then Board of Trustees, which resolution shall set forth such establishment and designation and may provide, to the extent permitted by the DSTA, for rights, powers and duties of such Class (including variations in the relative rights and preferences as between the different Classes) otherwise than as provided herein. Each such resolution shall be incorporated herein by reference upon adoption. Any such resolution may be amended by a further resolution of a majority of the Board of Trustees, and if Shareholder approval would be required to make such an amendment to the language set forth in this Declaration of Trust, such further resolution shall require the same Shareholder approval that would be necessary to make such amendment to the language set forth in this Declaration of Trust. Each such further resolution shall be incorporated herein by reference upon adoption. Each Class of the Trust shall be separate and distinct from any other Class of the Trust. As appropriate, in a manner determined by the Board of Trustees, the liabilities belonging to any such Class shall be held and accounted for separately from the liabilities of the Trust or any other Class and separate and distinct records on the books of the Trust for the Class shall be maintained for this purpose. Shares of each Class established and designated pursuant to this Section 6, unless otherwise provided to the extent permitted by the DSTA, in the resolution establishing and designating such Class, shall have the following rights, powers and duties:

Establishment and Designation of Classes. The establishment and designation of any Class shall be effective, without the requirement of Shareholder approval, upon the adoption of a resolution by not less than a majority of the then Board of Trustees, which resolution shall set forth such establishment and designation and may provide, to the extent permitted by the DSTA, for rights, powers powers, and duties of such Class (including variations in the relative rights and preferences as between the different Classes) ), otherwise than as provided herein. Each Such resolution may establish such Classes directly in such resolution shall be incorporated herein or by reference upon adoptionto, or approval of, another document that sets forth such Classes, including without limitation, any registration statement of the Trust, or as otherwise provided in such resolution. Any such resolution may be amended by a further resolution of a majority of the Board of Trustees, and if Shareholder approval would be required to make such an amendment to the language set forth in this Declaration of Trust, such further resolution shall require the same Shareholder approval that would be necessary to make such amendment to the language set forth in this Declaration of Trust. Each such further resolution shall be incorporated herein by reference upon adoptionadoption and shall have the status of an amendment to this Declaration of Trust. Each Class of the Trust shall be separate and distinct from any other Class of the Trust. As appropriate, in a manner determined by the Board of Trustees, the liabilities belonging to any such Class shall be held and accounted for separately from the liabilities of the Trust or any other Class Class, and separate and distinct records on the books of the Trust for the Class shall be maintained for this purpose. Shares of each Class established and designated pursuant to this Section 66 shall have the following rights, powers, and duties, unless otherwise provided to the extent permitted by the DSTA, in the resolution establishing and designating such Class, shall have the following rights, powers and duties:

Establishment and Designation of Classes. The establishment and designation of any Class shall be effective, without the requirement of Shareholder approval, upon the adoption of a resolution by not less than a majority of the then Board of Trustees, which resolution shall set forth such establishment and designation and may provide, to the extent permitted by the DSTA, for rights, powers powers, and duties of such Class (including variations in the relative rights and preferences as between the different Classes) ), otherwise than as provided herein. Each such resolution shall be incorporated herein by reference upon adoption. Any such resolution may be amended by a further resolution of a majority of the Board of Trustees, and if Shareholder approval would be required to make such an amendment to the language set forth in this Declaration of Trust, such further resolution shall require the same Shareholder approval that would be necessary to make such amendment to the language set forth in this Declaration of Trust. Each such further resolution shall be incorporated herein by reference upon adoptionadoption and shall have the status of an amendment to this Declaration of Trust. Each Class of the Trust shall be separate and distinct from any other Class of the Trust. As appropriate, in a manner determined by the Board of Trustees, the liabilities belonging to any such Class shall be held and accounted for separately from the liabilities of the Trust or any other Class Class, and separate and distinct records on the books of the Trust for the Class shall be maintained for this purpose. Shares of each Class established and designated pursuant to this Section 66 shall have the following rights, powers, and duties, unless otherwise provided to the extent permitted by the DSTA, in the resolution establishing and designating such Class, shall have the following rights, powers and duties: