Common use of Liabilities Belonging to Sub Clause in Contracts

Liabilities Belonging to Sub. Trusts. The assets belonging to each ----------------------------------- particular Sub-Trust shall be charged with all the liabilities, expenses, costs, charges and reserves which, as determined by the Trustees, are readily identifiable as belonging to that particular Sub-Trust (collectively, "Specific Liability Items"). Any general liabilities, expenses, costs, charges or reserves of the Trust which are not readily identifiable as belonging to any particular Sub-Trust (collectively, "General Liability Items") shall be allocated and charged by the Trustees to and among any one or more of the Sub- Trusts 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. Each allocation of liabilities, expenses, costs, charges and reserves by the Trustees shall be conclusive and binding upon the Shareholders of all Sub-Trusts and of all classes for all purposes. The Specific Liability Items of a Sub-Trust together with any General Liability Items allocated to that Sub-Trust are herein referred to as "liabilities belonging to" that Sub-Trust. General liabilities, expenses, costs, charges or reserves being borne solely by a class of Shares or pertaining solely to a class of shares are herein referred to as "expenses being borne solely" by a class. Expenses being borne solely by a particular class of Shares may be allocable to, or borne by, only such class of Shares (as determined by the Trustees). Under no circumstances shall the assets belonging to any particular Sub-Trust or class be charged with the liabilities belonging to any other Sub-Trust or class. All persons who have extended credit which the Trustees have allocated to a particular Sub-Trust, or who have a claim or contract which the Trustees have allocated to a particular Sub-Trust, shall look only to the assets of that particular Sub-Trust for payment of such credit, claim or contract.

Liabilities Belonging to Sub. Trusts. Trusts The assets belonging to each ----------------------------------- particular Sub-Trust shall be charged with the liabilities in respect of that Sub-Trust and all the liabilities, expenses, costs, charges and reserves which, as determined by the Trustees, are readily identifiable as belonging to that particular Sub-Trust (collectivelyTrust, "Specific Liability Items"). Any and any general liabilities, expenses, costs, charges or reserves of the Trust which are not readily identifiable as belonging to any particular Sub-Trust (collectively, "General Liability Items") shall be allocated and charged by the Trustees to and among any one or more of the Sub- Sub-Trusts established and designated from time to time in such manner and on such basis as the Trustees, Trustees in their sole discretiondiscretion shall determine. In addition, deem fair the liabilities in respect of a particular class of Shares of a particular Sub-Trust and equitableall expenses, costs, charges and reserves belonging to that class of Shares, and any general liabilities, expenses, costs, charges or reserves of that particular Sub-Trust which are not readily identifiable as belonging to any particular class of Shares of that Sub-Trust shall be allocated and charged by the Trustees to and among any one or more of the classes of Shares of that Sub-Trust established and designated from time to time in such manner and on such basis as the Trustees in their sole discretion shall determine. The liabilities, expenses, costs, charges and reserves allocated and so charged to a Sub-Trust or class thereof are herein referred to as “liabilities belonging to” that Sub-Trust or class thereof. Each allocation of liabilities, expenses, costs, charges and reserves by the Trustees shall be conclusive and binding upon the Shareholders of all Sub-Trusts Shareholders, creditors and of all any other persons dealing with the Trust or any Sub- Trust (including any classes thereof) for all purposes. The Specific Liability Items Any creditor of a any Sub-Trust together with any General Liability Items allocated to that Sub-Trust are herein referred to as "liabilities belonging to" that Sub-Trust. General liabilities, expenses, costs, charges or reserves being borne solely by a class of Shares or pertaining solely to a class of shares are herein referred to as "expenses being borne solely" by a class. Expenses being borne solely by a particular class of Shares may be allocable to, or borne by, only such class of Shares (as determined by the Trustees). Under no circumstances shall the assets belonging to any particular Sub-Trust or class be charged with the liabilities belonging to any other Sub-Trust or class. All persons who have extended credit which the Trustees have allocated to a particular Sub-Trust, or who have a claim or contract which the Trustees have allocated to a particular Sub-Trust, shall look only to the assets of that particular Sub-Trust for payment of to satisfy such creditcreditor’s debt. The Trustees shall have full discretion, claim or contractto 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.

Liabilities Belonging to Sub. Trusts. The assets belonging to each ----------------------------------- particular Sub-Trust shall be charged with the liabilities in respect of that Sub-Trust and all the liabilities, expenses, costs, charges and reserves which, as determined by the Trustees, are readily identifiable as belonging attributable to that particular Sub-Trust (collectivelyTrust, "Specific Liability Items"). Any and any general liabilities, expenses, costs, charges or reserves of the Trust which are not readily identifiable as belonging to any particular Sub-Trust (collectively, "General Liability Items") shall be allocated and charged by the Trustees to and among any one or more of the Sub- Sub-Trusts established and designated from time to time in such manner and on such basis as the Trustees, Trustees in their sole discretion, discretion deem fair and equitable. In addition, the liabilities in respect of a particular Class of Shares of a particular Sub-Trust 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 Sub-Trust which are not readily identifiable as belonging to any particular Class of Shares of that Sub-Trust shall be allocated and charged by the Trustees to and among any one or more of the Classes of Shares of that Sub-Trust 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, expenses, costs, charges and reserves allocated and so charged to a Sub-Trust or Class thereof are herein referred to as "liabilities belonging to" that Sub-Trust or Class 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 Sub-Trusts and of all classes Trust (including any Classes thereof) for all purposes. The Specific Liability Items Any creditor of a any Sub-Trust together with any General Liability Items allocated to that Sub-Trust are herein referred to as "liabilities belonging to" that Sub-Trust. General liabilities, expenses, costs, charges or reserves being borne solely by a class of Shares or pertaining solely to a class of shares are herein referred to as "expenses being borne solely" by a class. Expenses being borne solely by a particular class of Shares may be allocable to, or borne by, only such class of Shares (as determined by the Trustees). Under no circumstances shall the assets belonging to any particular Sub-Trust or class be charged with the liabilities belonging to any other Sub-Trust or class. All persons who have extended credit which the Trustees have allocated to a particular Sub-Trust, or who have a claim or contract which the Trustees have allocated to a particular Sub-Trust, shall look only to the assets of that particular Sub-Trust for payment of to satisfy such credit, claim or contractcreditor's debt.