Common use of Establishment and Designation of Sub-Trusts Clause in Contracts

Establishment and Designation of Sub-Trusts. Without ------------------------------------------- limiting the authority of the Trustees set forth in Section 4.1 to establish and designate any further Sub-Trusts and classes, the Trustees hereby establish and designate the following Sub-Trusts and classes thereof: "Xxxxx Xxxxxx Diversified Strategic Income Fund" and "Xxxxx Xxxxxx High Income Fund" which shall consist of five classes of shares designated as Class A, Class B, Class L, Class Y and Class Z shares; "Xxxxx Xxxxxx Exchange Reserve Fund", "Xxxxx Xxxxxx Municipal High Income Fund" and "Xxxxx Xxxxxx Total Return Bond Fund" which shall consist of four classes of shares designated as Class A, Class B, Class L and Class Y shares; "SB Capital and Income Fund" which shall consist of five classes of shares designated as Xxxxx Xxxxxx Class A, Xxxxx Xxxxxx Class B, Xxxxx Xxxxxx Class L, Xxxxx Xxxxxx Class O and Xxxxx Xxxxxx Class Y shares; "Xxxxx Xxxxxx Convertible Fund" which shall consist of five classes of shares designated as Class A, Class B, Class L, Class O and Class Y shares; and "Xxxxx Xxxxxx Balanced Fund" which shall consist of six classes of shares designated as Class A, Class B, Class L, Class O, Class Y and Class Z shares. The Shares of such Sub-Trusts and classes thereof and any Shares of any further Sub-Trusts or classes that may from time to time be established and designated by the Trustees shall (unless the Trustees otherwise determine with respect to some further Sub-Trust or class at the time of establishing and designating the same) have the following relative rights and preferences:" The undersigned hereby certifies that the Amendment set forth above has been duly adopted in accordance with the provisions of the Declaration of Trust.

Establishment and Designation of Sub-Trusts. Without ------------------------------------------- limiting the authority of the Trustees Trustee set forth in Section 4.1 to establish and designate any further Sub-Trusts and classesTrusts, the Trustees hereby establish and designate the following seventeen Sub-Trusts trusts and classes thereof: "Xxxxx Xxxxxx Diversified Strategic Income Payden Limited Maturity Fund" and "Xxxxx Xxxxxx High Income Fund" , which shall consist of five one clxxx xx shares designated as "Investor Class" shares; Payden Short Bond Fund, which shall consist of one class of xxxxxs designated as "Investor Class" shares; Payden U.S. Government Fund, which shall consist of one class of shares designated as "Investor Class" shares; Payden Core Bond Fund, which shall consist of one class of xxxxxx designated as "Investor Class" shares; Payden Opportunity Bond Fund, which shall consist of one clxxx xx shares designated as "Investor Class" shares; Payden GNMA Fund, which shall consist of one class of sharex xxxxgnated as "Investor Class" shares; Payden High Income Fund, which shall consist of one class ox xxxxes designated as "Investor Class" shares; Bunker Hill Money Market Fund, which shall consist of two classes of shares designated as Class A, Class B, Class L, Class Y and Class Z shares; "Xxxxx Xxxxxx Exchange Reserve Fund", "Xxxxx Xxxxxx Municipal High Income FundInvestor Class" and "Xxxxx Xxxxxx Total Return Class D" shares; Payden Tax Exempt Bond Fund" , which shall consist of four classes one claxx xx shares designated as "Investor Class" shares; Payden California Municipal Income Fund, which shall consisx xx xne class of shares designated as Class A, Class B, Class L and Class Y "Investor Class" shares; "SB Capital and Payden Growth & Income Fund" , which shall consist of five classes one class of shxxxx designated as "Investor Class" shares; Payden Market Return Fund, which shall consist of one class xx xxares designated as "Investor Class" shares; Payden U.S. Growth Leaders Fund, which shall consist of one xxxxx of shares designated as Xxxxx Xxxxxx Class A, Xxxxx Xxxxxx Class B, Xxxxx Xxxxxx Class L, Xxxxx Xxxxxx Class O and Xxxxx Xxxxxx Class Y "Investor Class" shares; "Xxxxx Xxxxxx Convertible Payden Small Cap Leaders Fund" , which shall consist of five classes one cxxxx xf shares designated as "Investor Class" shares; Payden Global Short Bond Fund, which shall consist of one cxxxx xf shares designated as "Investor Class" shares; Payden Global Fixed Income Fund, which shall consist of one class ox shares designated as "Investor Class" shares; and Payden Emerging Markets Bond Fund, which shall consist of oxx xxxss of shares designated as Class A, Class B, Class L, Class O and Class Y shares; and "Xxxxx Xxxxxx Balanced FundInvestor Class" which shall consist of six classes of shares designated as Class A, Class B, Class L, Class O, Class Y and Class Z shares. The Shares shares of such each Sub-Trust and classes thereof and any shares of any further Sub-Trusts and classes thereof and any Shares of any further Sub-Trusts or classes that may from time to time be established and designated by the Trustees shall (unless the Trustees otherwise determine with respect to some further Sub-Trust or class at a the time of establishing and designating the same) have the following relative rights and preferences:" ". The undersigned hereby certifies certify that the Amendment set forth above has been duly adopted in accordance with the provisions of the Declaration of TrustMaster Trust Agreement.

Establishment and Designation of Sub-Trusts. Without ------------------------------------------- limiting the ------------------------------------------- authority of the Trustees set forth in Section 4.1 to establish and designate any further Sub-Trusts and classes, the Trustees hereby establish and designate the following Sub-Trusts and classes thereof: "Xxxxx Xxxxxx Diversified Strategic Income Intermediate Maturity California Municipals Fund" and ", Xxxxx Xxxxxx High Income Intermediate Maturity New York Municipals Fund" which , Xxxxx Xxxxxx Large Capitalization Growth Fund, Xxxxx Xxxxxx S&P 500 Index Fund; Xxxxx Xxxxxx Mid Cap Core Fund and Xxxxx Xxxxxx U.S. 5000 Index Fund, each of which, except for Xxxxx Xxxxxx S&P 500 Index Fund and Xxxxx Xxxxxx U.S. 5000 Index Fund, shall consist of five classes of shares one class designated as Class A, Class B, Class L, Class Y and Class Z shares; "solely with respect to the Xxxxx Xxxxxx Exchange Reserve Fund", "S&P 500 Index Fund and Xxxxx Xxxxxx Municipal High Income Fund" and "U.S. 5000 Index Fund a class designated as Xxxxx Xxxxxx Total Return Bond Shares, and solely with respect to Xxxxx Xxxxxx Intermediate Maturity California Municipals Fund" which shall consist of four , Xxxxx Xxxxxx Intermediate Maturity New York Municipals Fund, Xxxxx Xxxxxx Large Capitalization Growth Fund and Xxxxx Xxxxxx Mid Cap Core Fund, additional classes of shares designated as Class A, Class B, Class L and Class Y shares; "SB Capital , and Income Fund" which shall consist of five classes of shares solely with respect to the Xxxxx Xxxxxx S&P 500 Index Fund and Xxxxx Xxxxxx U.S. 5000 Index Fund a class designated as Citi Shares, and solely with respect to Xxxxx Xxxxxx Class AMid Cap Core Fund, Xxxxx Xxxxxx Class B, Xxxxx Xxxxxx Class L, Xxxxx Xxxxxx Class O Large Capitalization Growth Fund and Xxxxx Xxxxxx Class Y shares; "Xxxxx Xxxxxx Convertible Fund" which shall consist of five classes of shares S&P 500 Index Fund an additional class designated as Class A, Class B, Class L, Class O and Class Y Z shares; and "solely with respect to the Xxxxx Xxxxxx Balanced Mid Cap Core Fund" which shall consist of six classes of shares , an additional class designated as Class A, Class B, Class L, Class O, Class Y and Class Z 1 shares. The Shares of such Sub-Trusts and classes thereof and any Shares of any further Sub-Trusts Trust or classes that may from time to time be established and designated by the Trustees shall (unless the Trustees otherwise determine with respect to some further Sub-Trust or class at the time of establishing and designating the same) have the following relative rights and preferences:" The undersigned hereby certifies that the Amendment set forth above has been duly adopted in accordance with the provisions of the Declaration of TrustAgreement.

Establishment and Designation of Sub-Trusts. Without ------------------------------------------- limiting the authority of the Trustees Trustee set forth in Section 4.1 to establish and designate any further Sub-Trusts and classesTrusts, the Trustees hereby establish and designate the following ten Sub-Trusts and classes thereof: "Xxxxx the Xxxxxx Diversified Strategic & Rygel Global Fixed Income Fund" and "Xxxxx Xxxxxx High Income Fund" , which shall consist of five two classes of shares designated as "Class A, Class B, Class L, Class Y and Class Z shares; "Xxxxx Xxxxxx Exchange Reserve Fund", "Xxxxx Xxxxxx Municipal High Income Fund" and "Xxxxx Class B" shares; the Xxxxxx Total Return & Rygel Tax-Exempt Bond Fund" , which shall consist of four two classes of shares designated as "Class A, " and "Class B, Class L and Class Y " shares; "SB Capital and Income the Xxxxxx & Rygel Limited Maturity Fund" , which shall consist of five two classes of shares designated as Xxxxx Xxxxxx "Class A, Xxxxx Xxxxxx " and "Class B, Xxxxx Xxxxxx Class L, Xxxxx Xxxxxx Class O and Xxxxx Xxxxxx Class Y " shares; "Xxxxx the Xxxxxx Convertible & Rygel Short Bond Fund" , which shall consist of five two classes of shares designated as "Class A, " and "Class B, Class L, Class O and Class Y " shares; and "Xxxxx the Xxxxxx Balanced & Rygel Intermediate Bond Fund" , which shall consist of six two classes of shares designated as "Class A, " and "Class B" shares; the Xxxxxx & Rygel Opportunity Fund, which shall consist of two classes of shares designated as "Class LA" and "Class B" shares; the Xxxxxx & Rygel Short Duration Tax Exempt Fund, which shall consist of two classes of shares designated as "Class O, Class Y A" and Class Z B" shares; the Xxxxxx & Rygel U.S. Treasury Fund, which shall consist of two classes of shares designated as "Class A" and "Class B" shares; the Xxxxxx & Rygel International Bond Fund, which shall consist of two classes of shares designated as "Class A" and "Class B" shares; and the Xxxxxx & Rygel Equity Market Tracking Fund, which shall consist of one class of shares designated as "Class A" shares. The Shares shares of such each Sub-Trust and classes thereof and any shares of any further Sub-Trusts and classes thereof and any Shares of any further Sub-Trusts or classes that may from time to time be established and designated by the Trustees shall (unless the Trustees otherwise determine with respect to some further Sub-Trust or class at the time of establishing and designating the same) have the following relative rights and preferences:" ". The undersigned hereby certifies certify that the Amendment set forth above has been duly adopted in accordance with the provisions of the Declaration of TrustMaster Trust Agreement.

Establishment and Designation of Sub-Trusts. Without ------------------------------------------- limiting the ------------------------------------------- authority of the Trustees set forth in Section 4.1 to establish and designate any further Sub-Trusts and classes, the Trustees hereby establish and designate the following Sub-Trusts and classes thereof: "Xxxxx Xxxxxx Diversified Strategic Income Intermediate Maturity California Municipals Fund" and ", Xxxxx Xxxxxx High Income Intermediate Maturity New York Municipals Fund" which , Xxxxx Xxxxxx Large Capitalization Growth Fund, Xxxxx Xxxxxx S&P 500 Index Fund and Xxxxx Xxxxxx Mid Cap Core Fund, each of which, except for Xxxxx Xxxxxx S&P 500 Index Fund, shall consist of five classes of shares one class designated as Class A, Class B, Class L, Class Y and Class Z shares; "solely with respect to the Xxxxx Xxxxxx Exchange Reserve Fund", "S&P 500 Index Fund a class designated as Xxxxx Xxxxxx Municipal High Income Fund" Shares, and "solely with respect to Xxxxx Xxxxxx Total Return Bond Intermediate Maturity California Municipals Fund" which shall consist of four , Xxxxx Xxxxxx Intermediate Maturity New York Municipals Fund, Xxxxx Xxxxxx Large Capitalization Growth Fund and Xxxxx Xxxxxx Mid Cap Core Fund, additional classes of shares designated as Class A, Class B, Class L and Class Y shares; "SB Capital , and Income Fund" which shall consist of five classes of shares solely with respect to the Xxxxx Xxxxxx S&P 500 Index Fund a class designated as Citi Shares, and solely with respect to Xxxxx Xxxxxx Class AMid Cap Core Fund, Xxxxx Xxxxxx Class B, Xxxxx Xxxxxx Class L, Xxxxx Xxxxxx Class O Large Capitalization Growth Fund and Xxxxx Xxxxxx Class Y shares; "Xxxxx Xxxxxx Convertible Fund" which shall consist of five classes of shares S&P 500 Index Fund an additional class designated as Class A, Class B, Class L, Class O and Class Y Z shares; and "solely with respect to the Xxxxx Xxxxxx Balanced Mid Cap Core Fund" which shall consist of six classes of shares , an additional class designated as Class A, Class B, Class L, Class O, Class Y and Class Z 1 shares. The Shares of such Sub-Trusts and classes thereof and any Shares of any further Sub-Trusts Trust or classes that may from time to time be established and designated by the Trustees shall (unless the Trustees otherwise determine with respect to some further Sub-Trust or class at the time of establishing and designating the same) have the following relative rights and preferences:" The undersigned hereby certifies that the Amendment set forth above has been duly adopted in accordance with the provisions of the Declaration of TrustAgreement.

Establishment and Designation of Sub-Trusts. Without ------------------------------------------- limiting the ------------------------------------------- authority of the Trustees set forth in Section 4.1 to establish and designate any further Sub-Trusts and classes, the Trustees hereby establish and designate the following Sub-Trusts and classes thereof: "Xxxxx Xxxxxx Diversified Strategic Income Intermediate Maturity California Municipals Fund" and ", Xxxxx Xxxxxx High Income Intermediate Maturity New York Municipals Fund" which , Xxxxx Xxxxxx Large Capitalization Growth Fund, Xxxxx Xxxxxx S&P 500 Index Fund, Xxxxx Xxxxxx Mid Cap Core Fund and Xxxxx Xxxxxx Classic Values Fund, each of which, except for Xxxxx Xxxxxx S&P 500 Index Fund, shall consist of five classes of shares one class designated as Class A, Class B, Class L, Class Y and Class Z shares; "solely with respect to the Xxxxx Xxxxxx Exchange Reserve S&P 500 Index Fund", "a class designated as Xxxxx Xxxxxx Municipal High Income Fund" Shares, and "solely with respect to Xxxxx Xxxxxx Total Return Bond Intermediate Maturity California Municipals Fund" which shall consist of four , Xxxxx Xxxxxx Intermediate Maturity New York Municipals Fund, Xxxxx Xxxxxx Large Capitalization Growth Fund, Xxxxx Xxxxxx Mid Cap Core Fund and Xxxxx Xxxxxx Classic Values Fund, additional classes of shares designated as Class A, Class B, Class L and Class Y shares; "SB Capital , and Income solely with respect to the Xxxxx Xxxxxx S&P 500 Index Fund" which shall consist of five classes of shares , a class designated as Citi Shares, and solely with respect to Xxxxx Xxxxxx Class AMid Cap Core Fund, Xxxxx Xxxxxx Class B, Xxxxx Xxxxxx Class L, Xxxxx Xxxxxx Class O Large Capitalization Growth Fund and Xxxxx Xxxxxx Class Y shares; "Xxxxx Xxxxxx Convertible Fund" which shall consist of five classes of shares S&P 500 Index Fund an additional class designated as Class A, Class B, Class L, Class O and Class Y Z shares; and "solely with respect to the Xxxxx Xxxxxx Balanced Mid Cap Core Fund" which shall consist of six classes of shares , an additional class designated as Class A1 shares, and solely with respect to Xxxxx Xxxxxx Intermediate Maturity California Municipals Fund and Xxxxx Xxxxxx Intermediate Maturity New York Municipals Fund, an additional class designated as Class B, Class L, Class O, Class Y and Class Z O shares. The Shares of such Sub-Trusts and classes thereof and any Shares of any further Sub-Trusts Trust or classes that may from time to time be established and designated by the Trustees shall (unless the Trustees otherwise determine with respect to some further Sub-Trust or class at the time of establishing and designating the same) have the following relative rights and preferences:" The undersigned hereby certifies that the Amendment set forth above has been duly adopted in accordance with the provisions of the Declaration of TrustAgreement.

Establishment and Designation of Sub-Trusts. Without ------------------------------------------- limiting the authority of the Trustees set forth in Section 4.1 to establish and designate any further Sub-Trusts and classes, the Trustees hereby establish and designate the following Sub-Trusts and classes thereof: "Xxxxx Xxxxxx Diversified Strategic Income Fund" and "Xxxxx Xxxxxx High Income Fund" which shall consist of five classes of shares designated as Class A, Class B, Class L, Class Y and Class Z shares; "Xxxxx Xxxxxx Exchange Reserve Fund", "Xxxxx Xxxxxx Municipal High Income Fund" and "Xxxxx Xxxxxx Total Return Bond Fund" which shall consist of four classes of shares designated as Class A, Class B, Class L and Class Y shares; "SB Capital and Income Fund" and "SB Convertible Fund" which shall consist of five ten classes of shares designated as Xxxxx Xxxxxx Class A, Xxxxx Xxxxxx Class B, Xxxxx Xxxxxx Class L, Xxxxx Xxxxxx Class O and O, Xxxxx Xxxxxx Class Y shares; "Xxxxx Xxxxxx Convertible Fund" which shall consist of five classes of shares designated as Y, Salomon Brothers Class A, Salomon Brothers Class B, Salomon Brothers Class L2, Salomon Brothers Class O O, and Salomon Brothers Class Y shares; and "Xxxxx Xxxxxx Balanced Fund" which shall consist of six classes of shares designated as Class A, Class B, Class L, Class O, Class Y and Class Z shares. The Shares of such Sub-Trusts and classes thereof and any Shares of any further Sub-Trusts or classes that may from time to time be established and designated by the Trustees shall (unless the Trustees otherwise determine with respect to some further Sub-Trust or class at the time of establishing and designating the same) have the following relative rights and preferences:" The undersigned hereby certifies that the Amendment set forth above has been duly adopted in accordance with the provisions of the Declaration of Trust.