Common use of NET ASSET VALUE; DISTRIBUTIONS; REPURCHASES; TRANSFERS Clause in Contracts

NET ASSET VALUE; DISTRIBUTIONS; REPURCHASES; TRANSFERS. Section 1. DETERMINATION OF NET ASSET VALUE, NET INCOME AND DISTRIBUTIONS. (a) The Board of Trustees shall have the power to determine from time to time the offering price for authorized, but unissued, shares of beneficial interest of the Trust, subject to any requirements or limitations of the 1940 Act. (b) Xxx Xxxrd of Trustees may, subject to the 1940 Act, prescribe and shall set forth in the Bylaws, this Declaration of Trust or in a resolution of the Board of Trustees such bases and time for determining the net asset value per Share, or net income attributable to the Shares or the declaration and payment of dividends and distributions on the Shares, as it may deem necessary or desirable. (c) Before payment of any dividend there may be set aside out of any funds of the Trust available for dividends such sum or sums as the Board of Trustees may from time to time, in its absolute discretion, think proper as a reserve fund to meet contingencies, or for equalizing dividends, or for repairing or maintaining any property of the Trust or for such other lawful purpose as the Board of Trustees shall deem to be in the best interests of the Trust and its Shareholders, and the Board of Trustees may abolish any such reserve in the manner in which it was created.

NET ASSET VALUE; DISTRIBUTIONS; REPURCHASES; TRANSFERS. Section 1. .. DETERMINATION OF NET ASSET VALUE, NET INCOME AND DISTRIBUTIONS.. -------------------------------------------------------------- (a) The Board of Trustees shall have the power to determine from time to time the offering price for authorized, but unissued, shares of beneficial interest of the Trust, subject to any requirements or limitations of the 1940 Act0000 Xxx. (b) Xxx Xxxrd The Board of Trustees may, subject to the 1940 Act, prescribe and shall set forth in the BylawsBy-Laws, this Declaration of Trust or in a resolution of the Board of Trustees such bases and time for determining the net asset value per Share, or net income attributable to the Shares or or, after providing for actual and accrued expenses and liabilities (including such reserves as the Board of Trustees may establish) determined in accordance with good accounting practices and subject to the preferences of any class of Shares then existing, the declaration and payment of dividends and distributions on the Shares, as it may deem necessary or desirable. (c) Before payment of any dividend there may be set aside out of any funds of the Trust available for dividends such sum or sums as the Board of Trustees may from time to time, in its absolute discretion, think proper as a reserve fund to meet contingencies, or for equalizing dividends, or for repairing or maintaining any property of the Trust or for such other lawful purpose as the Board of Trustees shall deem to be in the best interests of the Trust and its Shareholders, and the Board of Trustees may abolish any such reserve in the manner in which it was created.

NET ASSET VALUE; DISTRIBUTIONS; REPURCHASES; TRANSFERS. Section 1. DETERMINATION OF NET ASSET VALUE, NET INCOME AND DISTRIBUTIONS. (a) The Board of Trustees shall have the power to determine from time to time the offering price for authorized, but unissued, shares of beneficial interest of the Trust, subject to any requirements or limitations of the 1940 Act. (b) Xxx Xxxrd of The Xxxxx xf Trustees may, subject to the 1940 Act, prescribe and shall set forth in the Bylaws, this Declaration of Trust or in a resolution of the Board of Trustees such bases and time for determining the net asset value per Share, or net income attributable to the Shares or the declaration and payment of dividends and distributions on the Shares, as it may deem necessary or desirable. (c) Before payment of any dividend there may be set aside out of any funds of the Trust available for dividends such sum or sums as the Board of Trustees may from time to time, in its absolute discretion, think proper as a reserve fund to meet contingencies, or for equalizing dividends, or for repairing or maintaining any property of the Trust or for such other lawful purpose as the Board of Trustees shall deem to be in the best interests of the Trust and its Shareholders, and the Board of Trustees may abolish any such reserve in the manner in which it was created.