Net Asset Value Distributions and Repurchases. Section 7.1 Net Asset Value. Subject to applicable federal law including the 1940 Act and Article II hereof, the Trustees, in their sole discretion, may prescribe (and delegate to any officer of the Trust or any other Person or Persons the right and obligation to prescribe) such bases and time (including any methodology or plan) for determining the per Share or net asset value of the Shares of any Class or net income attributable to the Shares of any Class, or the declaration and payment of dividends and distributions on the Shares of any Class and the method of determining the Shareholders to whom dividends and distributions are payable, as they may deem necessary or desirable.
Net Asset Value Distributions and Repurchases. Section 1. Determination of Net Asset Value, Net Income and Distributions. Subject to Article III, Section 6 hereof, the Trustees, in their absolute discretion, may prescribe and shall set forth in the Bylaws or in a duly adopted resolution of the Trustees such bases and time for determining the per Share net asset value of the Shares or net income attributable to Shares, or the declaration and payment of dividends and distributions on the Shares, as they may deem necessary or desirable.
Net Asset Value Distributions and Repurchases. Section 1. Determination of Net Asset Value, Net Income and Distributions. Subject to Article III, Section 6 hereof, the Board of Trustees shall have the power to fix an initial offering price for the Shares of any class which shall yield to such class not less than the net asset value thereof, at which price the Shares of such class shall be offered initially for sale, and to determine from time to time thereafter the offering price which shall yield to such class not less than the net asset value thereof from sales of the Shares of such class; provided, however, that no Shares of a class shall be issued or sold for consideration which shall yield to such class less than the net asset value of the Shares of such class next determined by the Board of Trustees after receipt of the investment, or as otherwise provided in the applicable prospectus (or at such other times set by the Board of Trustees), except in the case of Shares of such class issued in payment of a dividend properly declared and payable. Subject to Article III, Section 6 hereof, the Board of Trustees, in their absolute discretion, may prescribe and shall set forth in a duly adopted vote of the Board of Trustees such bases and time for determining the per Share or net asset value of the Shares or net income attributable to the Shares, or the declaration and payment of dividends and distributions on the Shares, as they may deem necessary or desirable.
Net Asset Value Distributions and Repurchases
