Common use of Portfolios and Classes Clause in Contracts

Portfolios and Classes. (a) The Trustees shall have the authority from time to time to issue Shares in one or more series (each of which series of Shares shall represent the beneficial interest in a separate and distinct Portfolio of the Trust, including without limitation each Portfolio specifically established and designated in Schedule A, as they deem necessary or desirable. The Trustees shall have exclusive power without the requirement of Shareholder approval to establish and designate all terms and conditions of such separate and distinct Portfolios, including as to fees and charges, right of redemption and the price, terms and manner of redemption, special and relative rights as to dividends and other distributions and on liquidation, sinking or purchase fund provisions, conversion rights, conditions under which the several Portfolios shall have separate voting rights or no voting rights, and arrangements for distribution and administration.

Portfolios and Classes. (a) The Trustees shall have the authority from time to time to issue Shares in one or more series (each of which series of Shares shall represent the beneficial interest in a separate and distinct Portfolio of the Trust), including including, without limitation limitation, each Portfolio specifically established and designated in Schedule A, as they deem necessary or desirable. The Trustees shall have exclusive power power, without the requirement of Shareholder approval approval, to establish and designate all terms and conditions of such separate and distinct Portfolios, including as to fees and fees, charges, right of redemption and the price, terms and manner of redemption, special and relative rights as to dividends and other distributions and on liquidation, sinking or purchase fund provisions, conversion rights, conditions under which the several Portfolios shall have separate voting rights or no voting rights, and arrangements for distribution and administration.