Common use of Net Asset Value Clause in Contracts

Net Asset Value. The net asset value per Share of the Trust (or any Series or Class) at any time shall be the quotient obtained by dividing the value of the net assets of the Trust (or such Series or Class) at such time (being the current value of the assets belonging to the Trust (or such Series or Class), less its then existing liabilities) by the total number of Shares of the Trust (or such Series) then outstanding, all determined in accordance with the methods and procedures, including without limitation those with respect to rounding, established by the Trustees from time to time in accordance with the requirements of the 1940 Act. The net asset value of the several Classes of the Trust (or a particular Series) shall be separately computed, and may vary from one another. The Trustees shall establish procedures for the allocation of investment income or capital gains and expenses and liabilities of a particular Series between the several Classes of the Trust (or such Series). The Trustees may determine to maintain the net asset value per Share of the Trust or any Series or Class at a designated constant dollar amount and in connection therewith may adopt procedures not inconsistent with the 1940 Act for the continuing declaration of income attributable to the Trust or such Series or Class as dividends payable in additional Shares of the Trust or such Series or Class at the designated constant dollar amount and for the handling of any losses attributable to the Trust or such Series or Class. Such procedures may provide that in the event of any loss each Shareholder shall be deemed to have contributed to the shares of beneficial interest account of the Trust or such Series or Class his pro rata portion of the total number of Shares required to be canceled in order to permit the net asset value per Share of the Trust or such Series or Class to be maintained, after reflecting such loss, at the designated constant dollar amount. Each Shareholder of the Trust shall be deemed to have expressly agreed, by his investment in the Trust (or any Series thereof) with respect to which the Trustees shall have adopted any such procedure, to make the contribution referred to in the preceding sentence in the event of any such loss.

Net Asset Value. The net asset value per Share of the Trust (or any Series or Class) at any time shall be the quotient obtained by dividing the value of the net assets of the Trust (or such Series or Class) at such time (being the current value of the assets belonging to the Trust (or such Series or Class), less its then existing liabilities) by the total number of Shares of the Trust (or such Series) then outstanding, all determined in accordance with the methods and procedures, including without limitation those with respect to rounding, established by the Trustees from time to time in accordance with the requirements of the 1940 Act. The net asset value of the several Classes of the Trust (or a particular Series) shall be separately computed, and may vary from one another. The Trustees shall establish procedures for the allocation of investment income or capital gains and expenses and liabilities of a particular Series between the several Classes of the Trust (or such Series). The Trustees may determine to maintain the net asset value per Share of the Trust or any Series or Class at a designated constant dollar amount and in connection therewith may adopt procedures not inconsistent with the 1940 Act for the continuing declaration of income attributable to the Trust or such Series or Class as dividends payable in additional Shares of the Trust or such Series or Class at the designated constant dollar amount and for the handling of any losses attributable to the Trust or such Series or Class. Such procedures may provide that in the event of any loss each Shareholder shall be deemed to have contributed to the shares of beneficial interest account of the Trust or such Series or Class his pro rata portion of the total number of Shares required to be canceled in order to permit the net asset value per Share of the Trust or such Series or Class to be maintained, after reflecting such loss, at the designated constant dollar amount. Each Shareholder of the Trust shall be deemed to have expressly agreed, by his his/her investment in the Trust (or any Series thereof) with respect to which the Trustees shall have adopted any such procedure, to make the contribution referred to in the preceding sentence in the event of any such loss.

Net Asset Value. The net asset value per Share of the Trust (or any Series or Class) at any time shall be the quotient obtained by dividing the value of the net assets of the Trust (or such Series or Class) at such time (being the current value of the assets belonging to the Trust (or such Series or Class), less its then existing liabilities) by the total number of Shares of the Trust (or such Series) that Series then outstanding, all determined in accordance with the methods and procedures, including without limitation those with respect to rounding, established by the Trustees from time to time in accordance with the requirements of the 1940 Act. The net asset value of the several Classes of the Trust (or a particular Series) shall be separately computed, and may vary from one another. The Trustees shall establish procedures for the allocation of investment income or capital gains and expenses and liabilities of a particular Series between the several Classes of the Trust (or such Series). The Trustees may determine to maintain the net asset value per Share of the Trust or any Series or Class at a designated constant dollar amount and in connection therewith may adopt procedures not inconsistent with the 1940 Act for the continuing declaration of income attributable to the Trust or such Series or Class as dividends payable in additional Shares of the Trust or such Series or Class at the designated constant dollar amount and for the handling of any losses attributable to the Trust or such Series or Class. Such procedures may provide that in the event of any loss each Shareholder shall be deemed to have contributed to the shares of beneficial interest account of the Trust or such Series or Class his pro rata portion of the total number of Shares required to be canceled in order to permit the net asset value per Share of the Trust or such Series or Class to be maintained, after reflecting such loss, at the designated constant dollar amount. Each Shareholder of the Trust shall be deemed to have expressly agreed, by his investment in any the Trust (or any Series thereof) with respect to which the Trustees shall have adopted any such procedure, to make the contribution referred to in the preceding sentence in the event of any such loss.

Net Asset Value. The net asset value per Share of the Trust (or any Series or Class) at any time shall be the quotient obtained by dividing the value of the net assets of the Trust (or such Series or Class) at such time (being the current value of the assets belonging to the Trust (or such Series or Class), less its then existing liabilities) by the total number of Shares of the Trust (or such SeriesSeries or Class) then outstanding, all determined in accordance with the methods and procedures, including without limitation those with respect to rounding, established by the Trustees from time to time in accordance with the requirements of the 1940 Act. The net asset value of the several Classes of the Trust (or a particular Series) shall be separately computed, and may vary from one another. The Trustees shall establish procedures for the allocation of investment income or capital gains and expenses and liabilities of a particular Series between the several Classes of the Trust (or such Series). The Trustees may determine to maintain the net asset value per Share of the Trust or any Series or Class at a designated constant dollar amount and in connection therewith may adopt procedures not inconsistent with the 1940 Act for the continuing declaration of income attributable to the Trust or such Series or Class as dividends payable in additional Shares of the Trust or such Series or Class at the designated constant dollar amount and for the handling of any losses attributable to the Trust or such Series or Class. Such procedures may provide that in the event of any loss each Shareholder shall be deemed to have contributed to the shares of beneficial interest account of the Trust or such Series or Class his pro rata portion of the total number of Shares required to be canceled in order to permit the net asset value per Share of the Trust or such Series or Class to be maintained, after reflecting such loss, at the designated constant dollar amount. Each Shareholder of the Trust shall be deemed to have expressly agreed, by his investment in the Trust (or any Series thereof) with respect to which the Trustees shall have adopted any such procedure, to make the contribution referred to in the preceding sentence in the event of any such loss.

Net Asset Value. The net asset value per Share of the Trust (or any Series or Class) at any time shall be the quotient obtained by dividing the value of the net assets of the Trust (or such Series or Class) at such time (being the current value of the assets belonging to the Trust (or such Series or Class), less its then existing liabilities) by the total number of Shares of the Trust (or such Series) that Series then outstanding, all determined in accordance with the methods and procedures, including without limitation those with respect to rounding, established by the Trustees from time to time in accordance with the requirements of the 1940 Act. The net asset value of the several Classes of the Trust (or a particular Series) shall be separately computed, and may vary from one another. The Trustees shall establish procedures for the allocation of investment income or capital gains and expenses and liabilities of a particular Series between the several Classes of the Trust (or such Series). The If the Trustees may determine have determined to maintain the net asset value per Share of the Trust or any a Series or Class at a designated constant dollar amount at the time such Series or Class is established, and in connection therewith may adopt procedures (not inconsistent with the 1940 Act for the continuing declaration of income attributable to the Trust or such Series or Class as dividends payable in additional Shares of the Trust or such Series or Class at the designated constant dollar amount and for the handling of any losses attributable to the Trust or such Series or Class. Such ), such procedures may provide that in the event of any loss each Shareholder shall be deemed to have contributed to the shares of beneficial interest account of the Trust or such Series or Class his pro rata portion of the total number of Shares required to be canceled in order to permit the net asset value per Share of the Trust or such Series or Class to be maintained, after reflecting such loss, at the designated constant dollar amount. Each Shareholder of the Trust shall be deemed to have expressly agreed, by his investment in any the Trust (or any Series thereof) with respect to which the Trustees shall have adopted any such procedure, to make the contribution referred to in the preceding sentence in the event of any such loss.