Common use of Investment Description; Appointment Clause in Contracts

Investment Description; Appointment. (a) The Trust desires to employ the Portfolio's capital by investing and reinvesting in investments of the kind and in accordance with the investment objectives, policies and limitations specified in its Master Trust Agreement dated April 12, 1991, as amended from time to time (the "Trust Agreement"), in the prospectus (the "Prospectus") and in the statement of additional information (the "Statement of Additional Information") filed with the Securities and Exchange Commission (the "SEC") as part of the Trust's Registration Statement on Form N-1A, as amended from time to time (the "Registration Statement"), and in the manner and to the extent as may from time to time be approved in the manner set forth in the Trust Agreement. Copies of the Trust's Prospectus, the Statement of Additional Information and the Trust Agreement have been or will be submitted to the Adviser.

Investment Description; Appointment. (a) The Trust desires to employ the Portfolio's ’s capital by investing and reinvesting in investments of the kind and in accordance with the investment objectives, policies and limitations specified in its Master Trust Agreement dated April 12, 1991, as amended from time to time (the "“Trust Agreement"”), in the prospectus (the "“Prospectus"”) and in the statement of additional information (the "“Statement of Additional Information"”) filed with the Securities and Exchange Commission (the "“SEC"”) as part of the Trust's ’s Registration Statement on Form N-1A, as amended from time to time (the "“Registration Statement"”), and in the manner and to the extent as may from time to time be approved in the manner set forth in the Trust Agreement. Copies of the Trust's ’s Prospectus, the Statement of Additional Information and the Trust Agreement have been or will be submitted to the Adviser.

Investment Description; Appointment. (a) The Trust desires to employ the Portfolio's ’s capital by investing and reinvesting in investments of the kind and in accordance with the investment objectives, policies and limitations specified in its Master Trust Agreement dated April 12, 1991, as amended from time to time (the "“Trust Agreement"”), in the prospectus (the "“Prospectus"”) and in the statement of additional information (the "“Statement of Additional Information"”) filed with the Securities and Exchange Commission (the "“SEC"”) as part of the Trust's ’s Registration Statement on Form N-1AN-lA, as amended from time to time (the "“Registration Statement"”), and in the manner and to the extent as may from time to time be approved in the manner set forth in the Trust Agreement. Copies of the Trust's ’s Prospectus, the Statement of Additional Information and the Trust Agreement have been or will be submitted to the Adviser.

Investment Description; Appointment. (a) The Trust desires to employ the Portfolio's Fund’s capital by investing and reinvesting in investments of the kind and in accordance with the investment objectives, policies and limitations specified in its Master the Trust’s Declaration of Trust Agreement dated April 12September 8, 19912005, as amended from time to time (the "Trust Agreement"“Declaration”), in the prospectus (the "“Prospectus"”) and in the statement of additional information (the "“Statement of Additional Information"”) filed with the Securities and Exchange Commission (the "“SEC"”) as part of the Trust's ’s Registration Statement on Form N-1A, as amended from time to time (the "“Registration Statement"”), and in the such manner and to the such extent as may from time to time be approved in by the manner set forth in the Trust AgreementTrust’s Board of Trustees. Copies of the Trust's Prospectus, the Statement of Additional Information and the Trust Agreement Declaration have been or will be submitted to the AdviserSub-adviser.

Investment Description; Appointment. (a) The Trust desires to employ the PortfolioFund's capital by investing and reinvesting in investments of the kind and in accordance with the investment objectives, policies and limitations specified in its Master the Trust's Declaration of Trust Agreement dated April 12September 8, 19912005, as amended from time to time (the "Trust AgreementDeclaration"), in the prospectus (the "Prospectus") and in the statement of additional information (the "Statement of Additional Information") filed with the Securities and Exchange Commission (the "SEC") as part of the Trust's Registration Statement on Form N-1A, as amended from time to time (the "Registration Statement"), and in the such manner and to the such extent as may from time to time be approved in by the manner set forth in the Trust AgreementTrust's Board of Trustees. Copies of the Trust's Prospectus, the Statement of Additional Information and the Trust Agreement Declaration have been or will be submitted to the AdviserSub-adviser.

Investment Description; Appointment. (a) The Trust desires to employ the Portfolio's Portfolios’ capital by investing and reinvesting in investments of the kind and in accordance with the investment objectives, policies and limitations specified in its Master Trust Agreement dated April 12, 1991, as amended from time to time (the "“Trust Agreement"”), in the prospectus (the "“Prospectus"”) and in the statement of additional information (the "“Statement of Additional Information"”) filed with the Securities and Exchange Commission (the "“SEC"”) as part of the Trust's ’s Registration Statement on Form N-1A, as amended from time to time (the "“Registration Statement"”), and in the manner and to the extent as may from time to time be approved in the manner set forth in the Trust Agreement. Copies of the Trust's ’s Prospectus, the Statement of Additional Information and the Trust Agreement have been or will be submitted to the Adviser.

Investment Description; Appointment. (a) The Trust desires to employ the Portfolio's ’s capital by investing and reinvesting in investments of the kind and in accordance with the investment objectives, policies and limitations specified in its Master Trust Agreement dated April 12, 1991, as amended from time to time (the "“Trust Agreement"”), in the prospectus (the "“Prospectus"”) and in the statement of additional information (the "“Statement of Additional Information"”) filed with the Securities and Exchange Commission (the "“SEC"”) as part of the Trust's ’s Registration Statement on Form N-1AN-IA, as amended from time to time (the "“Registration Statement"”), and in the manner and to the extent as may from time to time be approved in the manner set forth in the Trust Agreement. Copies of the Trust's ’s Prospectus, the Statement of Additional Information and the Trust Agreement have been or will be submitted to the Adviser.

Investment Description; Appointment. (a) The Trust desires to employ the Portfolio's capital by investing and reinvesting in investments of the kind and in accordance with the investment objectives, policies and limitations specified in its Master Trust Agreement dated April 12, 1991, as amended from time to time (the "Trust Agreement"), in the prospectus (the "Prospectus") and in the statement of additional information (the "Statement of Additional Information") filed with the Securities and Exchange Commission (the "SEC") as part of the Trust's Registration Statement on Form N-1A, as amended from time to time (the "Registration Statement"), and in the manner and to the extent as may from time to time be approved in the manner set forth in the Trust AgreementAgreement and any amendments thereto. Copies of the Trust's Prospectus, the Statement of Additional Information and the Trust Agreement have been or will be submitted to the Adviser.

Investment Description; Appointment. (a) The Trust desires to employ the Portfolio's capital by investing and reinvesting in investments of the kind and in accordance with the investment objectives, policies and limitations specified in its Master Trust Agreement dated April 12, 1991, as amended from time to time (the "Trust Agreement"), in the prospectus (the "Prospectus") and in the statement of additional information (the "Statement of Additional Information") filed with the Securities and Exchange Commission (the "SEC") as part of the Trust's Registration Statement on Form N-1A, as amended from time to time (the "Registration Statement"), and in the manner and to the extent as may from time to time be approved in the manner set forth in the Trust Agreement. Copies of the Trust's Prospectus, the Statement of Additional Information and the Trust Agreement each as in effect on the date hereof have been or will be submitted to the Adviser.