Common use of Power to Declare Dividends Clause in Contracts

Power to Declare Dividends. (a) The Board of Trustees, from time to time as it may deem advisable, may declare and pay dividends to the shareholders of any series of the Trust in cash or other property of that series, out of any source available to that series for dividends, according to the respective rights and interests of shareholders of that series and in accordance with the applicable provisions of the Declaration of Trust. (b) The Board of Trustees may prescribe from time to time that dividends declared on shares of a series may be payable at the election of any of the shareholders of that series (exercisable before the declaration of the dividend), either in cash or in shares of that series; provided that the net asset value of the shares received by a shareholder electing to receive dividends in shares (determined as of such time as the Board of Trustees shall have prescribed in accordance with the Declaration of Trust) shall not exceed the full amount of cash to which the shareholder would be entitled if he elected to receive cash. (c) The Board of Trustees shall cause any dividend payment to shareholders of a series to be accompanied by a written statement if wholly or partly from any source other than: (i) such series' accumulated undistributed net income [determined in accordance with generally accepted accounting principles and the rules and regulations then in effect of the Securities and Exchange Commission or any other governmental body having similar jurisdiction over the Trust (the "SEC")] and not including profits or losses realized upon the sale of securities or other properties of the series; or (ii) the series' net income so determined for the current or preceding fiscal year. Such statement shall adequately disclose the source or sources of such payment and the basis of calculation and shall be in such form as the SEC may prescribe.

Power to Declare Dividends. (a) The Board of Trustees, from time to time as it may deem advisable, may declare and pay dividends to the shareholders of any series of the Trust in cash or other property of that series, out of any source available to that series for dividends, according to the respective rights and interests of shareholders of that series and in accordance with the applicable provisions of the Declaration of Trust. (b) The Board of Trustees may prescribe from time to time that dividends declared on shares of a series may be payable at the election of any of the shareholders of that series (exercisable before the declaration of the dividend), either in cash or in shares of that series; provided that the net asset value of the shares received by a shareholder electing to receive dividends in shares (determined as of such time as the Board of Trustees shall have prescribed in accordance with the Declaration of Trust) shall not exceed the full amount of cash to which the shareholder would be entitled if he elected to receive cash. (c) The Board of Trustees shall cause any dividend payment to shareholders of a series to be accompanied by a written statement if wholly or partly from any source other than: (i) such series' accumulated undistributed net income [(determined in accordance with generally accepted accounting principles and the rules and regulations then in effect of the Securities and Exchange Commission or any other governmental body having similar jurisdiction over the Trust (the "SEC")] ) and not including profits or losses realized upon the sale of securities or other properties of the series; or (ii) the series' net income so determined for the current or preceding fiscal year. Such statement shall adequately disclose the source or sources of such payment and the basis of calculation and shall be in such form as the SEC may prescribe.

Power to Declare Dividends. (a) The Board of Trustees, from time to time as it may deem advisable, may declare and pay dividends to the shareholders of any series of the Trust in cash or other property of that series, out of any source available to that series for dividends, according to the respective rights and interests of shareholders of that series and in accordance with the applicable provisions of the Declaration of Trust. (b) The Board of Trustees may prescribe from time to time that dividends declared on shares of a series may be payable at the election of any of the shareholders of that series (exercisable before the declaration of the in dividend), either in cash or in shares of that series; provided that the net asset value of the shares received by a shareholder electing to receive dividends in shares (determined as of such time as the Board of Trustees shall have prescribed in accordance with the Declaration of Trust) shall not exceed the full amount of cash to which the shareholder would be entitled if he elected to receive cash. (c) The Board of Trustees shall cause any dividend payment to shareholders of a series to be accompanied by a written statement if wholly or partly from any source other than: (i) such series' accumulated undistributed net income [determined in accordance with generally accepted accounting principles and the rules and regulations then in effect of the Securities and Exchange Commission or any other governmental body having similar jurisdiction over the Trust (the "SEC")] and not including profits or losses realized upon the sale of securities or other properties of the series; or (ii) the series' net income so determined for the current or preceding fiscal year. Such statement shall adequately disclose the source or sources of such payment and the basis of calculation and shall be in such form as the SEC may prescribe.

Power to Declare Dividends. (a) The Board of TrusteesManagers, from time to time as it may deem advisable, may declare and pay dividends to the shareholders of any series of the Trust Company in cash or other property of that series, out of any source available to that series for dividends, according to the respective rights and interests of shareholders of that series and in accordance with the applicable provisions of the Declaration of TrustOperating Agreement. (b) The Board of Trustees Managers may prescribe from time to time that dividends declared on shares of a series may be payable at the election of any of the shareholders of that series (exercisable before the declaration of the dividend), either in cash or in shares of that series; provided that the net asset value of the shares received by a shareholder electing to receive dividends in shares (determined as of such time as the Board of Trustees Managers shall have prescribed in accordance with the Declaration of TrustOperating Agreement) shall not exceed the full amount of cash to which the shareholder would be entitled if he elected to receive cash. (c) The Board of Trustees Managers shall cause any dividend payment to shareholders of a series to be accompanied by a written statement if wholly or partly from any source other than: (i) such series' accumulated undistributed net income [(determined in accordance with generally accepted accounting principles and the rules and regulations then in effect of the Securities and Exchange Commission or any other governmental body having similar jurisdiction over the Trust Company (the "SEC")] ) and not including profits or losses realized upon the sale of securities or other properties of the series; or (ii) the series' net income so determined for the current or preceding fiscal year. Such statement shall adequately disclose the source or sources of such payment and the basis of calculation and shall be in such form as the SEC may prescribe.