Common use of Provisions in Conflict with Law or Regulations Clause in Contracts

Provisions in Conflict with Law or Regulations. (a) The provisions of this Declaration are severable, and if the Trustees shall determine, with the advice of counsel, that any of such provisions is in conflict with the 1940 Act, the regulated investment company provisions of the Code or with other applicable laws and regulations, the conflicting provision shall be deemed never to have constituted a part of this Declaration; provided, however, that such determination shall not affect any of the remaining provisions of this Declaration or render invalid or improper any action taken or omitted prior to such determination. (b) If any provision of this Declaration shall be held invalid or unenforceable in any jurisdiction, such invalidity or unenforceability shall attach only to such provision in such jurisdiction and shall not in any manner affect such provision in any other jurisdiction or any other provision of this Declaration in any jurisdiction. (THE REMAINDER OF THIS SPACE HAS BEEN INTENTIONALLY LEFT BLANK)

Provisions in Conflict with Law or Regulations. (a) The provisions of this Declaration the Agreement are severable, and if the Trustees shall determine, with the advice of counsel, that any of such provisions is in conflict with the 1940 Act, the regulated investment company Subchapter K or related provisions of the Code or with other applicable laws and regulations, the conflicting provision shall be deemed never to have constituted a part of this Declarationthe Agreement; provided, however, that such determination shall not affect any of the remaining provisions of this Declaration the Agreement or render invalid or improper any action taken or omitted prior to such determination. (b) If any provision of this Declaration the Agreement shall be held invalid or unenforceable in any jurisdiction, such invalidity or unenforceability shall attach only to such provision in such jurisdiction and shall not in any manner affect such provision in any other jurisdiction or any other provision of this Declaration the Agreement in any jurisdiction. (THE REMAINDER OF THIS SPACE HAS BEEN INTENTIONALLY LEFT BLANK).

Provisions in Conflict with Law or Regulations. (a) The provisions of this Declaration are severable, and if the Trustees shall determine, with the advice of counsel, that any of such provisions is in conflict with the 1940 Act, the regulated investment company provisions of the Internal Revenue Code or with other applicable laws and regulationsregulation, the conflicting provision shall be deemed never to have constituted a part of this Declaration; provided, however, that such determination shall not affect any of the remaining provisions of this Declaration or render invalid or improper any action taken or omitted prior to such determination. (b) If any provision of this Declaration shall be held invalid or unenforceable in any jurisdiction, such invalidity or unenforceability shall attach only to such provision in such jurisdiction and shall not in any manner affect such provision in any other jurisdiction or any other provision of this Declaration in any jurisdiction. (THE REMAINDER OF THIS SPACE HAS BEEN INTENTIONALLY LEFT BLANK).

Provisions in Conflict with Law or Regulations. (a) The provisions of this Declaration are severable, and if the Trustees shall determine, with the advice of counsel, that any of such provisions is in conflict with the 1940 Act, the regulated investment company provisions of the Code DBTA, or with other applicable laws and regulations, the conflicting provision provisions shall be deemed never to have constituted a part of this Declaration; provided, however, that such determination shall not affect any of the remaining provisions of this Declaration or render invalid or improper any action taken or omitted prior to such determination. (b) If any provision of this Declaration shall be held invalid or unenforceable in any jurisdiction, such invalidity or unenforceability shall attach only to such provision in such jurisdiction and shall not in any manner affect such provision in any other jurisdiction or any other provision of this Declaration in any jurisdiction. (THE REMAINDER OF THIS SPACE HAS BEEN INTENTIONALLY LEFT BLANK).

Provisions in Conflict with Law or Regulations. (a) The provisions of this Declaration are severable, and if the Trustees shall determine, with the advice of counsel, that any of such provisions is provision, in conflict whole or in part, conflicts with the 1940 Act, the regulated investment company partnership taxation provisions of the Code Code, and the regulations thereunder, the Delaware Act or with other applicable laws and regulations, the conflicting provision provision, or the conflicting part or parts thereof, shall be deemed never not to have constituted constitute a part of this Declaration; provided, however, that such determination shall not affect any of the remaining provisions of this Declaration or render invalid or improper any action taken or omitted prior to such determination. (b) If any provision of this Declaration shall be held invalid or unenforceable unenforceable, in whole or in part, in any jurisdiction, such invalidity or unenforceability shall attach only to such provision provision, or such part or parts thereof, in such jurisdiction and shall not in any manner affect such provision in any other jurisdiction or any other provision of this Declaration in any jurisdiction. (THE REMAINDER OF THIS SPACE HAS BEEN INTENTIONALLY LEFT BLANK).

Provisions in Conflict with Law or Regulations. (a) The provisions of this the Declaration of Trust are severable, and if the Trustees shall determine, with the advice of counsel, that any of such provisions provision is in conflict with the 1940 Act, the regulated investment company provisions of the Internal Revenue Code of 1986, as amended (or any successor statute thereto) (if the Trust or any Series has elected to be, subject thereto), and the regulations thereunder, the Delaware Act or with other applicable federal laws and regulations, the conflicting provision shall be deemed never to have constituted a part of this Declaration; the Declaration of Trust, provided, however, that such determination shall not affect any of the remaining provisions of this the Declaration of Trust or render invalid or improper any action taken or omitted prior to such determination. (b) If any provision of this the Declaration of Trust shall be held invalid or unenforceable in any jurisdiction, such invalidity or unenforceability shall attach only to such provision in such jurisdiction and shall not in any manner affect such provision in any other jurisdiction or any other provision of this the Declaration of Trust in any jurisdiction. (THE REMAINDER OF THIS SPACE HAS BEEN INTENTIONALLY LEFT BLANK).

Provisions in Conflict with Law or Regulations. (a) The provisions of this Declaration are severable, and if the Trustees shall determine, with the advice of counsel, that any of such provisions is in conflict with the 1940 Act, the regulated investment company provisions of the Internal Revenue Code of 1986 or with other applicable laws and regulations, the conflicting provision shall be deemed never to have constituted a part of this Declaration; provided, however, that such determination shall not affect any of the remaining provisions of this Declaration or render invalid or improper any action taken or omitted prior to such determination. (b) If any provision of this Declaration shall be held invalid or unenforceable in any jurisdiction, such invalidity or unenforceability shall attach only to such provision in such jurisdiction and shall not in any manner affect such provision in any other jurisdiction or any other provision of this Declaration in any jurisdiction. (THE REMAINDER OF THIS SPACE HAS BEEN INTENTIONALLY LEFT BLANK)

Provisions in Conflict with Law or Regulations. (a) The provisions of this Declaration are severable, and if the Trustees shall determine, with the advice of counsel, that any of such provisions is in conflict with requirements of the 1940 Act, would be inconsistent with any of the conditions necessary for qualification of the Trust as a regulated investment company provisions of under the United States Internal Revenue Code or is inconsistent with other applicable laws and regulationsregulations or the rules of any securities exchange on which the Shares are listed, the conflicting such provision shall be deemed never to have constituted a part of this Declaration; provided, however, provided that such determination shall not affect any of the remaining provisions of this Declaration or render invalid or improper any action taken or omitted prior to such determination. (b) If any provision of this Declaration shall be held invalid or unenforceable in any jurisdiction, such invalidity or unenforceability shall attach only to such provision in such jurisdiction and shall not in any manner affect such provision in any other jurisdiction or any other provision of this Declaration in any jurisdiction. (THE REMAINDER OF THIS SPACE HAS BEEN INTENTIONALLY LEFT BLANK).

Provisions in Conflict with Law or Regulations. (a) The provisions of this Declaration are severable, and if the Trustees shall determine, with the advice of counsel, that any of such provisions is in conflict with the 1940 Act, the regulated investment company provisions of the Code DSTA, or with other applicable laws and regulations, the conflicting provision provisions shall be deemed never to have constituted a part of this Declaration; provided, however, that such determination shall not affect any of the remaining provisions of this Declaration or render invalid or improper any action taken or omitted prior to such determination. (b) If any provision of this Declaration shall be held invalid or unenforceable in any jurisdiction, such invalidity or unenforceability shall attach only to such provision in such jurisdiction and shall not in any manner affect such provision in any other jurisdiction or any other provision of this Declaration in any jurisdiction. (THE REMAINDER OF THIS SPACE HAS BEEN INTENTIONALLY LEFT BLANK).