Common use of Liabilities Belonging to Series Clause in Contracts

Liabilities Belonging to Series. The assets belonging to each particular Series and Class thereof shall be charged with the liabilities with respect of that Series or Class and all expenses, costs, charges and reserves attributable to that Series or Class, and any general liabilities, expenses, costs, charges or reserves of the Trust which are not readily identifiable as belonging to any particular Series or Class shall be allocated and charged by the Trustees to and among any one or more of the Series and Classes established and designated from time to time in such manner and on such basis as the Trustees in their sole discretion deem fair and equitable. The liabilities, indebtedness, expenses, costs, charges and reserves allocated and so charged to a Series or Class are herein referred to as “liabilities belonging to” that Series or Class and shall be payable solely out of the assets of that Series or Class. Each allocation of liabilities, expenses, costs, charges and reserves by the Trustees shall be conclusive and binding upon the Shareholders of all Series for all purposes. Without limitation of the foregoing provisions of this Section 4.2(b), but subject to the right of the Trustees in their discretion to allocate general liabilities, expenses, costs, charges or reserves as herein provided, the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to a particular Series or Class shall be enforceable against the assets belonging to such Series or Class only, and not against the assets of the Trust generally or any other Series or Class. Notice of this limitation on inter-Series or Class liabilities shall be set forth in the certificate of trust of the Trust (whether originally or by amendment) as filed or to be filed in the Office of the Secretary of State of the State of Delaware pursuant to the DSTA, and upon the giving of such notice in the certificate of trust, the statutory provisions of Section 3804 of the DSTA relating to limitations on inter-Series or Class liabilities (and the statutory effect under Section 3804 of setting forth such notice in the certificate of trust) shall become applicable to the Trust and each Series or Class. Any Person extending credit to, contracting with or having any claim against the Trust with respect to a particular Series or Class may satisfy or enforce any debt, liability, obligation or expense incurred, contracted for or otherwise existing with respect to that Series or Class from the assets of that Series or Class only. No Shareholder or former Shareholder of any Series or Class shall have a claim on or any right to any assets allocated or belonging to any other Series or Class.

Liabilities Belonging to Series. The assets belonging to each particular Series and Class thereof shall be charged with the liabilities with in respect of that Series or Class and all expenses, costs, charges and reserves attributable to that Series or Class, and any Series. Any general liabilities, expenses, costs, charges or reserves of the Trust Company which are not readily identifiable as belonging to any particular Series or Class shall be allocated and charged by the Trustees to and Directors between or among any one or more of the Series and Classes established and designated from time to time proportionately based upon the relative net asset values of each Series or in such manner and on such basis as the Trustees Directors in their sole discretion deem fair and equitable. The liabilitiesSuch general liabilities shall include, indebtedness, but are not limited to Directors' fees; 1940 Act registration expenses, costs, charges and reserves allocated and so charged to a Series or Class are herein referred to as “liabilities belonging to” that Series or Class and shall be payable solely out ; organizational expenses of the assets Company, exclusive of organizational expenses attributable to any specific Series; and accounting expenses relating to the Company that Series or Classare not attributable to any specific Series. Each such allocation of liabilities, expenses, costs, charges and reserves by the Trustees shall be conclusive and binding upon the Shareholders of all Series for all purposes. Without limitation of the foregoing provisions of this Section 4.2(b)2.02, but subject to the right of the Trustees Directors in their discretion to allocate general liabilities, expenses, costs, charges or reserves as herein provided, the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to a particular Series or Class shall be enforceable against the assets belonging to of such Series or Class only, and not against the assets of any other Series or the Trust generally Company generally, and, except as otherwise provided in this Agreement, none of the debts, liabilities, obligations and expenses incurred, contracted for, or otherwise existing with respect to the Company or any other Series or Classshall be enforceable against the assets of such Series. Notice of this limitation on inter-Series or Class liabilities shall be set forth in the certificate of trust formation of the Trust Company (whether originally or by amendment) as filed or to be filed in the Office of the Secretary of State of the State of Delaware pursuant to the DSTADelaware Act, and upon the giving of such notice in the certificate of trustformation, the statutory provisions of Section 3804 18-215(b) of the DSTA Delaware Act relating to limitations on inter-Series or Class liabilities (and the statutory effect under Section 3804 18-215(b) of setting forth such notice in the certificate of trustformation of the Company) shall become applicable to the Trust Company and each Series or ClassSeries. Any Person extending credit to, contracting with or having any claim against any Series may look only to the Trust with respect assets of that Series to a particular Series or Class may satisfy or enforce any debt, liability, obligation or expense incurred, contracted for or otherwise existing with respect to that Series or Class from the assets of that Series or Class onlySeries. No Shareholder or former Shareholder of any Series or Class shall have a claim on or any right to any assets allocated or belonging to any other Series or Classthe Company generally. Every note, bond, contract or other undertaking issued by or on behalf of a particular the Series shall include a recitation limiting the obligation represented thereby to that Series and its assets (but the omission of any such recitation shall in no way affect the limitation on interseries liabilities provided for in this Agreement). The liabilities, expenses, costs, charges and reserves charged to a Series are herein referred to as "liabilities belonging to" that Series. Except as set forth in this Section 2.02(b), no Series shall be liable for or charged with the liabilities belonging to any other Series.

Liabilities Belonging to Series. The assets belonging to each particular Series and Class thereof shall be charged with the liabilities with in respect of that Series or Class and all expenses, costs, charges and reserves attributable belonging to that Series or ClassSeries, and any general liabilities, expenses, costs, charges or reserves of the Trust which are not readily identifiable as belonging to any particular Series or Class shall be allocated and charged by the Trustees to and among any one or more of the Series established and Classes designated from time to time in such manner and on such basis as the Trustees in their sole discretion deem fair and equitable. In addition, the liabilities in respect of a particular class of Shares of a particular Series and all expenses, costs, charges and reserves belonging to that class of Shares, and any general liabilities, expenses, costs, charges or reserves of that particular Series which are not readily identifiable as belonging to any particular class of Shares of that Series shall be allocated and charged by the Trustees to and among any one or more of the classes of Shares of that Series established and designated from time to time in such manner and on such basis as the Trustees in their sole discretion deem fair and equitable. The liabilities, indebtedness, expenses, costs, charges and reserves allocated and so charged to a Series or Class class thereof are herein referred to as “"liabilities belonging to” " that Series or Class and shall be payable solely out of the assets of that Series or Classclass thereof. Each allocation of liabilities, expenses, costs, charges and reserves by the Trustees shall be conclusive and binding upon the Shareholders of all Shareholders, creditors and any other persons dealing with the Trust or any Series (including any classes thereof) for all purposes. Without limitation Any creditor of the foregoing provisions of this Section 4.2(b), but subject any Series may look only to the right of the Trustees in their discretion to allocate general liabilities, expenses, costs, charges or reserves as herein provided, the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to a particular Series or Class shall be enforceable against the assets belonging to such Series or Class only, and not against the assets of the Trust generally or any other Series or Class. Notice of this limitation on inter-Series or Class liabilities shall be set forth in the certificate of trust of the Trust (whether originally or by amendment) as filed or to be filed in the Office of the Secretary of State of the State of Delaware pursuant to the DSTA, and upon the giving of such notice in the certificate of trust, the statutory provisions of Section 3804 of the DSTA relating to limitations on inter-Series or Class liabilities (and the statutory effect under Section 3804 of setting forth such notice in the certificate of trust) shall become applicable to the Trust and each Series or Class. Any Person extending credit to, contracting with or having any claim against the Trust with respect to a particular Series or Class may satisfy or enforce any debt, liability, obligation or expense incurred, contracted for or otherwise existing with respect to that Series or Class from the assets of that Series or Class only. No Shareholder or former Shareholder of any Series or Class shall have a claim on or any right to any assets allocated or belonging to any other Series or Classsatisfy such creditor's debt.

Liabilities Belonging to Series. The assets belonging to each particular Series and Class thereof shall be charged with the liabilities with of the Trust in respect of that Series or Class and all expenses, costs, charges and reserves attributable to that Series or Class, and any general liabilities, expenses, costs, charges or reserves of the Trust which are not readily identifiable as belonging to any particular Series or Class shall be allocated and charged by the Trustees to and among any one or more of the Series and Classes established and designated from time to time in such manner and on such basis as the Trustees in their sole discretion deem fair and equitable. The liabilities, indebtedness, expenses, costs, charges and reserves allocated and so charged to a Series or Class are herein referred to as “"liabilities belonging to” that Series or Class and shall be payable solely out of the assets of " that Series or Class. Each allocation of liabilities, expenses, costs, charges and reserves by the Trustees shall be conclusive and binding upon the Shareholders of all Series for all purposes. Without limitation . Dividends and distributions on Shares of the foregoing provisions of this Section 4.2(b), but subject to the right of the Trustees in their discretion to allocate general liabilities, expenses, costs, charges or reserves as herein provided, the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to a particular Series may be paid with such frequency as the Trustees may determine, which may be daily or Class shall be enforceable against otherwise pursuant to a standing resolution or resolutions adopted only once or with such frequency as the Trustees may determine, to the holders of Shares of that Series, from such of the estimated income and capital gains, accrued or realized, from the assets belonging to such Series or Class onlythat Series, as the Trustees may determine, after providing for actual and not against the assets accrued liabilities belonging to that Series. All dividends and distributions on Shares of the Trust generally or any other Series or Class. Notice of this limitation on inter-Series or Class liabilities shall be set forth in the certificate of trust of the Trust (whether originally or by amendment) as filed or to be filed in the Office of the Secretary of State of the State of Delaware pursuant to the DSTA, and upon the giving of such notice in the certificate of trust, the statutory provisions of Section 3804 of the DSTA relating to limitations on inter-Series or Class liabilities (and the statutory effect under Section 3804 of setting forth such notice in the certificate of trust) shall become applicable to the Trust and each Series or Class. Any Person extending credit to, contracting with or having any claim against the Trust with respect to a particular Series or Class may satisfy or enforce any debt, liability, obligation or expense incurred, contracted for or otherwise existing with respect shall be distributed pro rata to that Series or Class from the assets holders of that Series in proportion to the number of Shares of that Series held by such holders at the date and time of record established for the payment of such dividends or distributions, except that in connection with any dividend or distribution program or procedure the Trustees may determine that no dividend or distribution shall be payable on Shares as to which the Shareholder's purchase order and/or payment have not been received by the time or times established by the Trustees under such program or procedure, and except that if Classes have been established for any Series, the rate of dividends or distributions may vary among such Class onlypursuant to resolution, which may be a standing resolution, of the Board of Trustees. No Shareholder Such dividends and distributions may be made in cash or former Shares or a combination thereof as determined by the Trustees or pursuant to any program that the Trustees may have in effect at the time for the election by each Shareholder of the mode of the making of such dividend or distribution to that Shareholder. Any such dividend or distribution paid in Shares will be paid at the net asset value thereof as determined in accordance with subsection (h) of Section 4.2. The Trust intends to qualify each Series as a "regulated investment company" under the Internal Revenue Code of 1986 (the “Code”), as amended, or any Series successor or Class comparable statute thereto, and regulations promulgated thereunder. Inasmuch as the computation of net income and gains for federal income tax purposes may vary from the computation thereof on the books of the Trust, the Board of Trustees shall have the power, in its sole discretion, to distribute in any fiscal year as dividends, including dividends designated in whole or in part as capital gains distributions, amounts sufficient, in the opinion of the Board of Trustees, to enable each Series to qualify as a claim on regulated investment company and to avoid liability of the Series for federal income tax in respect of that year. However, nothing in the foregoing shall limit the authority of the Board of Trustees to make distributions greater than or any right less than the amount necessary to any assets allocated or belonging qualify as a regulated investment company and to any other avoid liability of each Series or Classfor such tax.

Liabilities Belonging to Series. The assets belonging to each particular Series and Class thereof shall be charged with the liabilities with in respect of that Series or Class and all expenses, costs, charges and reserves attributable to that Series or Class, and any Series. Any general liabilities, expenses, costs, charges or reserves of the Trust Company which are not readily identifiable as belonging to any particular Series or Class shall be allocated and charged by the Trustees to and Directors between or among any one or more of the Series and Classes established and designated from time to time proportionately based upon the relative net asset values of each Series or in such manner and on such basis as the Trustees Directors in their sole discretion deem fair and equitable. The liabilitiesSuch general liabilities shall include, indebtedness, but are not limited to Directors’ fees; 1940 Act registration expenses, costs, charges and reserves allocated and so charged to a Series or Class are herein referred to as “liabilities belonging to” that Series or Class and shall be payable solely out ; organizational expenses of the assets Company, exclusive of organizational expenses attributable to any specific Series; and accounting expenses relating to the Company that Series or Classare not attributable to any specific Series. Each such allocation of liabilities, expenses, costs, charges and reserves by the Trustees shall be conclusive and binding upon the Shareholders of all Series for all purposes. Without limitation of the foregoing provisions of this Section 4.2(b)Article II.02, but subject to the right of the Trustees Directors in their discretion to allocate general liabilities, expenses, costs, charges or reserves as herein provided, the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to a particular Series or Class shall be enforceable against the assets belonging to of such Series or Class only, and not against the assets of any other Series or the Trust generally Company generally, and, except as otherwise provided in this Agreement, none of the debts, liabilities, obligations and expenses incurred, contracted for, or otherwise existing with respect to the Company or any other Series or Classshall be enforceable against the assets of such Series. Notice of this limitation on inter-–Series or Class liabilities shall be set forth in the certificate of trust formation of the Trust Company (whether originally or by amendment) as filed or to be filed in the Office of the Secretary of State of the State of Delaware pursuant to the DSTADelaware Act, and upon the giving of such notice in the certificate of trustformation, the statutory provisions of Section 3804 18-215(b) of the DSTA Delaware Act relating to limitations on inter-–Series or Class liabilities (and the statutory effect under Section 3804 18-215(b) of setting forth such notice in the certificate of trustformation of the Company) shall become applicable to the Trust Company and each Series or ClassSeries. Any Person extending credit to, contracting with or having any claim against any Series may look only to the Trust with respect assets of that Series to a particular Series or Class may satisfy or enforce any debt, liability, obligation or expense incurred, contracted for or otherwise existing with respect to that Series or Class from the assets of that Series or Class onlySeries. No Shareholder or former Shareholder of any Series or Class shall have a claim on or any right to any assets allocated or belonging to any other Series or Classthe Company generally. Every note, bond, contract or other undertaking issued by or on behalf of a particular the Series shall include a recitation limiting the obligation represented thereby to that Series and its assets (but the omission of any such recitation shall in no way affect the limitation on inter-Series liabilities provided for in this Agreement). The liabilities, expenses, costs, charges and reserves charged to a Series are herein referred to as “liabilities belonging to” that Series. Except as set forth in this Article II.02(b), no Series shall be liable for or charged with the liabilities belonging to any other Series.

Liabilities Belonging to Series. The assets belonging to each particular Series and Class thereof shall be charged with the liabilities with in respect of that Series or Class and all expenses, costs, charges and reserves attributable to that Series or Class, and any Series. Any general liabilities, expenses, costs, charges or reserves of the Trust Company which are not readily identifiable as belonging to any particular Series or Class shall be allocated and charged by the Trustees to and Directors between or among any one or more of the Series and Classes established and designated from time to time proportionately based upon the relative net asset values of each Series or in such manner and on such basis as the Trustees Directors in their sole discretion deem fair and equitable. The liabilitiesSuch general liabilities shall include, indebtedness, but are not limited to Directors fees; 1940 Act registration expenses, costs, charges and reserves allocated and so charged to a Series or Class are herein referred to as “liabilities belonging to” that Series or Class and shall be payable solely out ; organizational expenses of the assets Company, exclusive of organizational expenses attributable to any specific Series; and accounting expenses relating to the Company that Series or Classare not attributable to any specific Series. Each such allocation of liabilities, expenses, costs, charges and reserves by the Trustees shall be conclusive and binding upon the Shareholders of all Series for all purposes. Without limitation of the foregoing provisions of this Section 4.2(b)2.02, but subject to the right of the Trustees Directors in their discretion to allocate general liabilities, expenses, costs, charges or reserves as herein provided, the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to a particular Series or Class shall be enforceable against the assets belonging to of such Series or Class only, and not against the assets of any other Series or the Trust generally Company generally, and, except as otherwise provided in this Agreement, none of the debts, liabilities, obligations and expenses incurred, contracted for, or otherwise existing with respect to the Company or any other Series or Classshall be enforceable against the assets of such Series. Notice of this limitation on inter-Series or Class liabilities shall be set forth in the certificate of trust formation of the Trust Company (whether originally or by amendment) as filed or to be filed in the Office of the Secretary of State of the State of Delaware pursuant to the DSTADelaware Act, and upon the giving of such notice in the certificate of trustformation, the statutory provisions of Section 3804 18-215(b) of the DSTA Delaware Act relating to limitations on inter-Series or Class liabilities (and the statutory effect under Section 3804 18-215(b) of setting forth such notice in the certificate of trustformation of the Company) shall become applicable to the Trust Company and each Series or ClassSeries. Any Person extending credit to, contracting with or having any claim against any Series may look only to the Trust with respect assets of that Series to a particular Series or Class may satisfy or enforce any debt, liability, obligation or expense incurred, contracted for or otherwise existing with respect to that Series or Class from the assets of that Series or Class onlySeries. No Shareholder or former Shareholder of any Series or Class shall have a claim on or any right to any assets allocated or belonging to any other Series or Classthe Company generally. Every note, bond, contract or other undertaking issued by or on behalf of a particular the Series shall include a recitation limiting the obligation represented thereby to that Series and its assets (but the omission of any such recitation shall in no way affect the limitation on interseries liabilities provided for in this Agreement). The liabilities, expenses, costs, charges and reserves charged to a Series are herein referred to as "liabilities belonging to" that Series. Except as set forth in this Section 2.02(b), no Series shall be liable for or charged with the liabilities belonging to any other Series.

Liabilities Belonging to Series. The assets belonging to each particular Series and Class thereof shall be charged with the liabilities with in respect of that Series or Class and all expenses, costs, charges and reserves attributable to that Series or Class, and any Series. Any general liabilities, expenses, costs, charges or reserves of the Trust Company which are not readily identifiable as belonging to any particular Series or Class shall be allocated and charged by the Trustees to and Directors between or among any one or more of the Series and Classes established and designated from time to time proportionately based upon the relative net asset values of each Series or in such manner and on such basis as the Trustees Directors in their sole discretion deem fair and equitable. The liabilitiesSuch general liabilities shall include, indebtedness, but are not limited to Directors’ fees; 1940 Act registration expenses, costs, charges and reserves allocated and so charged to a Series or Class are herein referred to as “liabilities belonging to” that Series or Class and shall be payable solely out ; organizational expenses of the assets Company, exclusive of organizational expenses attributable to any specific Series; and accounting expenses relating to the Company that Series or Classare not attributable to any specific Series. Each such allocation of liabilities, expenses, costs, charges and reserves by the Trustees shall be conclusive and binding upon the Shareholders of all Series for all purposes. Without limitation of the foregoing provisions of this Section 4.2(b)2.02, but subject to the right of the Trustees Directors in their discretion to allocate general liabilities, expenses, costs, charges or reserves as herein provided, the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to a particular Series or Class shall be enforceable against the assets belonging to of such Series or Class only, and not against the assets of any other Series or the Trust generally Company generally, and, except as otherwise provided in this Agreement, none of the debts, liabilities, obligations and expenses incurred, contracted for, or otherwise existing with respect to the Company or any other Series or Classshall be enforceable against the assets of such Series. Notice of this limitation on inter-–Series or Class liabilities shall be set forth in the certificate of trust formation of the Trust Company (whether originally or by amendment) as filed or to be filed in the Office of the Secretary of State of the State of Delaware pursuant to the DSTADelaware Act, and upon the giving of such notice in the certificate of trustformation, the statutory provisions of Section 3804 18-215(b) of the DSTA Delaware Act relating to limitations on inter-–Series or Class liabilities (and the statutory effect under Section 3804 18-215(b) of setting forth such notice in the certificate of trustformation of the Company) shall become applicable to the Trust Company and each Series or ClassSeries. Any Person extending credit to, contracting with or having any claim against any Series may look only to the Trust with respect assets of that Series to a particular Series or Class may satisfy or enforce any debt, liability, obligation or expense incurred, contracted for or otherwise existing with respect to that Series or Class from the assets of that Series or Class onlySeries. No Shareholder or former Shareholder of any Series or Class shall have a claim on or any right to any assets allocated or belonging to any other Series or Classthe Company generally. Every note, bond, contract or other undertaking issued by or on behalf of a particular the Series shall include a recitation limiting the obligation represented thereby to that Series and its assets (but the omission of any such recitation shall in no way affect the limitation on interseries liabilities provided for in this Agreement). The liabilities, expenses, costs, charges and reserves charged to a Series are herein referred to as “liabilities belonging to” that Series. Except as set forth in this Section 2.02(b), no Series shall be liable for or charged with the liabilities belonging to any other Series.