Common use of General Liabilities Clause in Contracts

General Liabilities. Any general liabilities, expenses, costs, charges or reserves of the Trust or any Portfolio that are not readily identifiable as belonging to a particular Portfolio or any particular Class thereof shall be allocated and charged by the Trustees, between or among any one or more of the portfolios or Classes in such manner and on such basis as the Trustees in their sole discretion deem fair and equitable. Each allocation of liabilities, expenses, costs, charges and reserves by the Trustees shall be conclusive and binding upon the Shareholders of all Portfolios for all purposes in the absence of manifest error. Liabilities of the Trust for indemnification and advancement of expenses of a Covered Person under Section 9.2 may be paid out of the assets of a particular Portfolio or Class notwithstanding the fact, if it be the case, that the indemnification or advancement of expenses relates in whole or in part to acts or omissions of the Covered Person with respect to another Portfolio or Class.

General Liabilities. Any general liabilities, expenses, costs, charges or reserves of the Trust or any Portfolio that are not readily identifiable as belonging to a particular Portfolio or any particular Class thereof shall be allocated and charged by the Trustees, between or among any one or more of the portfolios Portfolios or Classes in such manner and on such basis as the Trustees in their sole discretion deem fair and equitable. Each allocation of liabilities, expenses, costs, charges and reserves by the Trustees shall be conclusive and binding upon the Shareholders of all Portfolios for all purposes in the absence of manifest error. Liabilities of the Trust for indemnification and advancement of expenses of a Covered Person under Section 9.2 may be paid out of the assets of a particular Portfolio or Class notwithstanding the fact, if it be the case, that the indemnification or advancement of expenses relates in whole or in part to acts or omissions of the Covered Person with respect to another Portfolio or Class.