Common use of OBLIGATIONS OF THE TRUST AND EACH FUND Clause in Contracts

OBLIGATIONS OF THE TRUST AND EACH FUND. A. The Trust shall maintain insurance coverage for the Trust, including a fidelity bond as required by Rule 17g-1 under the Investment Company Act, and commercially reasonable errors and omissions, directors and officers and professional liability insurance. Promptly following execution of this Agreement, the Chief Compliance Officer shall be named as an insured person under all such policies and bonds as an officer of the Trust, such coverage to be effective from the Effective Date of this Agreement. Additionally, the Trust shall cause the Chief Compliance Officer to be covered by each Fund’s directors and officers liability insurance policy and use reasonable efforts to ensure that such coverage be (i) reinstated should the policy be cancelled; (ii) continued after the Chief Compliance Officer ceases to serve as an officer of the Trust on substantially the same terms as coverage is provided for all other officers after such persons are no longer officers; and (iii) continued in the event the Trust merges or terminates, on substantially the same terms as coverage is provided for all other officers (and for a period of no less than six years). The Trust shall furnish details of such coverage to NLCS upon its request, including a copy of the policy, the identity of the carrier, coverage levels and deductible amounts. The Trust will notify NLCS of any modification, reduction or cancellation of such coverage or of any material claims made against such coverage. The Trust shall cause the Chief Compliance Officer to be named an officer in the Trust’s corporate/trust resolutions such that the Chief Compliance Officer is subject to the provisions of the Trust’s declaration of trust and bylaws (collectively, as amended from time to time, “Organizational Documents”) regarding indemnification of its officers.

OBLIGATIONS OF THE TRUST AND EACH FUND. A. The Trust shall maintain insurance coverage for the Trust, including a fidelity bond as required by Rule 17g-1 under the Investment Company Act, and commercially reasonable errors and omissions, directors and officers and professional liability insurance. Promptly following execution of this Agreement, the Chief Compliance Officer shall be named as an insured person under all such policies and bonds as an officer of the Trust, such coverage to be effective from the Effective Date of this Agreement. Additionally, the Trust shall cause the Chief Compliance Officer to be covered by each Fund’s directors and officers liability insurance policy and use reasonable efforts to ensure that such coverage be (i) reinstated should the policy be cancelled; (ii) continued after the Chief Compliance Officer ceases to serve as an officer of the Trust on substantially the same terms as coverage is provided for all other officers after such persons are no longer officers; and (iii) continued in the event the Trust merges or terminates, on substantially the same terms as coverage is provided for all other officers (and for a period of no less than six years). The Trust shall furnish details of such coverage to NLCS upon its request, including a copy of the policy, the identity of the carrier, coverage levels and deductible amounts. The Trust will notify NLCS of any modification, reduction or cancellation of such coverage or of any material claims made against such coverage. The Trust shall cause the Chief Compliance Officer to be named an officer in the Trust’s corporate/trust resolutions such that the Chief Compliance Officer is subject to the provisions of the Trust’s declaration of trust organizational documents and bylaws (collectively, as amended from time to time, “Organizational Documents”) regarding indemnification of its officers.

OBLIGATIONS OF THE TRUST AND EACH FUND. A. The Trust shall maintain insurance coverage for the Trust, including a fidelity bond as required by Rule 17g-1 under the Investment Company Act, and commercially reasonable errors and omissions, directors and officers and professional liability insurance. Promptly following execution of this Agreement, the Chief Compliance Officer shall be named as an insured person under all such policies and bonds as an officer of the Trust, such coverage to be effective from the Effective Date of this Agreement. Additionally, the Trust shall cause the Chief Compliance Officer to be covered by each Fund’s 's directors and officers liability insurance policy and use reasonable efforts to ensure that such coverage be (i) reinstated should the policy be cancelled; (ii) continued after the Chief Compliance Officer ceases to serve as an officer of the Trust on substantially the same terms as coverage is provided for all other officers after such persons are no longer officers; and (iii) continued in the event the Trust merges or terminates, on substantially the same terms as coverage is provided for all other officers (and for a period of no less than six years). The Trust shall furnish details of such coverage to NLCS upon its request, including a copy of the policy, the identity of the carrier, coverage levels and deductible amounts. The Trust will notify NLCS of any modification, reduction or cancellation of such coverage or of any material claims made against such coverage. The Trust shall cause the Chief Compliance Officer to be named an officer in the Trust’s 's corporate/trust resolutions such that the Chief Compliance Officer is subject to the provisions of the Trust’s 's declaration of trust and bylaws (collectively, as amended from time to time, “"Organizational Documents”") regarding indemnification of its officers.

OBLIGATIONS OF THE TRUST AND EACH FUND. A. The Trust shall maintain insurance coverage for the Trust, including a fidelity bond as required by Rule 17g-1 under the Investment Company Act, and commercially reasonable errors and omissions, directors and officers and professional liability insurance. Promptly following execution of this Agreement, the Chief Compliance Officer shall be named as an insured person under all such policies and bonds as an officer of the Trust, such coverage to be effective from the Effective Date of this Agreement. Additionally, the Trust shall cause the Chief Compliance Officer to be covered by each Fund’s directors and officers liability insurance policy and use reasonable efforts to ensure that such coverage be (i) reinstated should the policy be cancelled; (ii) continued after the Chief Compliance Officer ceases to serve as an officer of the Trust on substantially the same terms as coverage is provided for all other officers after such persons are no longer officers; and (iii) continued in the event the Trust merges or terminates, on substantially the same terms as coverage is provided for all other officers (and for a period of no less than six years). The Trust shall furnish details of such coverage to NLCS upon its request, including a copy of the policy, the identity of the carrier, coverage levels and deductible amounts. The Trust will notify NLCS of any modification, reduction reduction, or cancellation of such coverage or of any material claims made against such coverage. The Trust shall cause the Chief Compliance Officer to be named an officer in the Trust’s corporate/trust resolutions such that the Chief Compliance Officer is subject to the provisions of the Trust’s declaration of trust organizational documents and bylaws (collectively, as amended from time to time, “Organizational Documents”) regarding indemnification of its officers.