Common use of Establishment and Designation of Classes Clause in Contracts

Establishment and Designation of Classes. As contemplated by Section 3.1, the variations in the relative rights and preferences as between any Classes of Common Shares and any potential Preferred Shares shall be fixed and determined by the Trustees; provided, that all Common Shares or Preferred Shares of the Fund or of any Series shall be identical to all other Common Shares or Preferred Shares of the Fund or of the same Series, as the case may be, except that, to the extent permitted by the 1940 Act, there may be variations between different Classes as to allocation of expenses, rights of redemption, special and relative rights and preferences as to dividends and distributions and on liquidation, conversion rights, and conditions under which the several Classes shall have separate voting rights. Any Class of Preferred Shares shall have such rights and preferences and priorities over the Common Shares as may be established by the terms thereof. The following provisions shall be applicable to any division of Shares of the Fund into one or more Classes or Series: (a) All provisions herein relating to the Shares, or any Class or Series of Shares of the Fund, including Common and Preferred Shares, shall apply equally to each Class of Shares of the Fund or of any Series of the Fund, except as the context requires otherwise. (b) The number of Shares of each Class that may be issued shall be unlimited. The Trustees may classify or reclassify any Shares or any Class of any Shares into one or more other Classes that may be established and designated from time to time. The Fund may purchase and hold Shares as treasury shares, reissue such treasury shares for such consideration and on such terms as the Trustees may determine, or cancel any Shares of any Class acquired by the Fund at the Trustees’ discretion from time to time. (c) Liabilities, expenses, costs, charges and reserves related to the distribution of, and other identified expenses that should properly be allocated to, the Shares of a particular Class or Series within the Class may be charged to and borne solely by such Class or Series, and the bearing of expenses solely by a Class of Shares or Series may be appropriately reflected (in a manner determined by the Trustees) and cause differences in the net asset value attributable to, and the dividend, redemption and liquidation rights of, the Shares of different Classes or Series. Each allocation of liabilities, expenses, costs, charges and reserves by the Trustees in their reasonable judgment shall be conclusive and binding upon the Shareholders of all Classes for all purposes. (d) The establishment and designation of any Class or Series of Shares shall be effective upon resolution by a majority of the Trustees, adopting a resolution which sets forth such establishment and designation and the relative rights and preferences of such Class or Series. Each such resolution shall be incorporated herein by reference upon adoption. The Trustees may, by resolution of a majority of the Trustees, abolish any Class or Series and the establishment and designation thereof.

Establishment and Designation of Classes. As contemplated by Section 3.1, the variations in the relative rights and preferences as between any the Classes of Common Shares Stock and any potential Preferred Shares Stock shall be fixed and determined by the Trustees; provided, that all Common Shares Stock or Preferred Shares Stock of the Fund or of any Series shall be identical to all other Common Shares or Preferred Shares of the Fund or Preferred Stock of the same Series, as the case may be, except that, to the extent permitted by the 1940 Act, there may be variations between different Classes as to allocation of expenses, rights right of redemption, special and relative rights and preferences as to dividends and distributions and on liquidation, conversion rights, and conditions under which the several Classes shall have separate voting rights. Any Class of Preferred Shares Stock shall have such rights and preferences and priorities over the Common Shares Stock as may be established by the terms thereof. All references to Shares in this Declaration shall be deemed to be Shares of any or all Classes as the context may require. The following provisions shall be applicable to any division of Shares of the Fund into one or more Classes or Series: (a) 1. All provisions herein relating to the Shares, or any Class or Series of Shares of the Fund, including Common and Preferred Shares, shall apply equally to each Class of Shares of the Fund or of any Series of the Fund, except as the context requires otherwise. (b) 2. The number of Shares of each Class that may be issued shall be unlimited. The Trustees may classify or reclassify any Shares or any Class of any Shares into one or more other Classes that may be established and designated from time to time. The Fund may purchase and hold Shares as treasury shares, reissue such treasury shares for such consideration and on such terms as the Trustees may determine, or cancel any Shares of any Class acquired by the Fund at the Trustees’ ' discretion from time to time. (c) 3. Liabilities, expenses, costs, charges and reserves related to the distribution of, and other identified expenses that should properly be allocated to, the Shares of a particular Class or Series within the Class may be charged to and borne solely by such Class or Series, and the bearing of expenses solely by a Class of Shares or Series may be appropriately reflected (in a manner determined by the Trustees) and cause differences in the net asset value attributable to, and the dividend, redemption and liquidation rights of, the Shares of different Classes or Series. Each allocation of liabilities, expenses, costs, charges and reserves by the Trustees in their reasonable judgment shall be conclusive and binding upon the Shareholders of all Classes for all purposes. (d) 4. The establishment and designation of any Class or Series of Shares shall be effective upon resolution by a majority of the Trustees, adopting a resolution which sets forth such establishment and designation and the relative rights and preferences of such Class or Series. Each such resolution shall be incorporated herein by reference upon adoption. The Trustees may, by resolution of a majority of the Trustees, abolish any Class or Series and the establishment and designation thereof.

Establishment and Designation of Classes. As contemplated by Section 3.1, the variations in the relative rights and preferences as between any the Classes of Common Shares and any potential Preferred Shares shall be fixed and determined by the Trustees; provided, that all Common Shares or Preferred Shares of the Fund or of any Series Class shall be identical to all other Common Shares or Preferred Shares of the Fund or of the same SeriesClass, as the case may be, except that, to the extent permitted by the 1940 Act, there may be variations between different Classes as to allocation of expenses, rights right of redemption, special and relative rights and preferences as to dividends and distributions and on liquidation, conversion rights, and conditions under which the several Classes shall have separate voting rights. Any Class of Preferred Shares Stock shall have such rights and preferences and priorities over the Common Shares Stock as may be established by the terms thereof. All references to Shares in this Declaration shall be deemed to be Shares of any or all Classes as the context may require. The following provisions shall be applicable to any division of Shares of the Fund into one or more Classes or SeriesClasses: (a) All provisions herein relating to the Shares, or any Class or Series of Shares of the Fund, including Common and Preferred Shares, shall apply equally to each Class of Shares of the Fund or of any Series of the Fund, except as the context requires otherwise. (b) The number of Shares of each Class that may be issued shall be unlimited. The Trustees may classify classify, reclassify, reorganize, recapitalize or reclassify convert any Shares or any Class of any Shares into one or more other Classes that may be established and designated from time to time. The Fund may purchase and hold Shares as treasury shares, reissue such treasury shares for such consideration and on such terms as the Trustees may determine, or cancel any Shares of any Class acquired by the Fund at the Trustees’ ' discretion from time to time. (c) Liabilities, expenses, costs, charges and reserves related to the distribution of, and other identified expenses that should properly be allocated to, the Shares of a particular Class or Series within the Class may be charged to and borne solely by such Class or SeriesClass, and the bearing of expenses solely by a Class of Shares or Series may be appropriately reflected (in a manner determined by the Trustees) and cause differences in the net asset value attributable to, and the dividend, redemption and liquidation rights of, the Shares of different Classes or SeriesClasses. Each allocation of liabilities, expenses, costs, charges and reserves by the Trustees in their reasonable judgment shall be conclusive and binding upon the Shareholders of all Classes for all purposes. (d) The Except for the initial Classes of Shares established by Section 3.1, the establishment and designation of any Class or Series of Shares shall be effective upon resolution by a majority of the Trusteesrequired quorum of the Trustees (unless otherwise required by law), adopting a resolution which sets forth such establishment and designation and the relative rights and preferences of such Class, whether directly in such resolution or by reference to, or approval of, another document that sets forth such relative rights and preferences of such Class including, without limitation, any registration statement of the Fund, or Seriesas otherwise provided in such resolution. Each such resolution shall be incorporated herein by reference upon adoption. The Trustees may, by resolution of a majority of the Trusteesrequired quorum of the Trustees (unless otherwise required by law), abolish any Class or Series and the establishment and designation thereof. (e) Dividends, Distributions, Redemptions, and Repurchases of Classes. With respect of any dividend or distribution, redemption or repurchase, the Trustees shall have full discretion, to the extent not inconsistent with the 1940 Act, to determine which items shall be treated as income and which items as capital; and each such determination and allocation shall be conclusive and binding upon the Shareholders.

Establishment and Designation of Classes. As contemplated by Section 3.16.1, the variations in the relative rights and preferences as between any Classes of Common common Shares and any potential Preferred preferred Shares shall be fixed and determined by the Trustees; provided, that all Common common Shares or Preferred preferred Shares of the Fund or of any Series Trust shall be identical to all other Common common Shares or Preferred preferred Shares of the Fund or of the same SeriesTrust, as the case may be, except that, to the extent permitted by the 1940 Act, there may be variations between different Classes as to allocation of expenses, rights of redemption, special and relative rights and preferences as to dividends and distributions and on liquidation, conversion rights, and conditions under which the several Classes shall have separate voting rights. Any Class of Preferred preferred Shares shall have such rights and preferences and priorities over the Common common Shares as may be established by the terms thereof. The following provisions shall be applicable to any division of Shares of the Fund Trust into one or more Classes or Series: (a) All provisions herein relating to the Shares, or any Class or Series of Shares of the FundTrust, including Common common and Preferred preferred Shares, shall apply equally to each Class of Shares of the Fund Trust or of any Series of the FundTrust, except as the context requires otherwise. (b) The number of Shares of each Class that may be issued shall be unlimited. The Trustees may classify or reclassify any Shares or any Class of any Shares into one or more other Classes that may be established and designated from time to time. The Fund Trust may purchase and hold Shares as treasury shares, reissue such treasury shares for such consideration and on such terms as the Trustees may determine, or cancel any Shares of any Class acquired by the Fund Trust at the Trustees’ ' discretion from time to time. (c) Liabilities, expenses, costs, charges and reserves related to the distribution of, and other identified expenses that should properly be allocated to, the Shares of a particular Class or Series within the Class may be charged to and borne solely by such Class or Series, and the bearing of expenses solely by a Class of Shares or Series may be appropriately reflected (in a manner determined by the Trustees) and cause differences in the net asset value attributable to, and the dividend, redemption and liquidation rights of, the Shares of different Classes or Series. Each allocation of liabilities, expenses, costs, charges and reserves by the Trustees in their reasonable judgment shall be conclusive and binding upon the Shareholders of all Classes for all purposes. (d) The establishment and designation of any Class or Series of Shares shall be effective upon resolution by a majority of the Trustees, adopting a resolution which sets forth such establishment and designation and the relative rights and preferences of such Class or Series. Each such resolution shall be incorporated herein by reference upon adoption. The Trustees may, by resolution of a majority of the Trustees, abolish any Class or Series and the establishment and designation thereof.