Common use of Redemption of Shareholder’s Interest Clause in Contracts

Redemption of Shareholder’s Interest. The Trust shall have the right at its option and at any time to redeem shares of any shareholder at the net asset value thereof determined in accordance with Section III hereof: (i) if at such time such shareholder owns fewer shares than, or shares having an aggregate net asset value of less than, an amount determined from time to time by the Board of Trustees; or (ii) to the extent that such shareholder owns shares of a particular series of shares equal to or in excess of a percentage of the outstanding shares of that series determined from time to time by the Board of Trustees; or (iii) to the extent that such shareholder owns shares of the Trust representing a percentage equal to or in excess of such percentage of the aggregate number of outstanding shares of the Trust or the aggregate net asset value of the Trust determined from time to time by the Board of Trustees, and subject to the Trust's giving general notice to all shareholders of its intention to avail itself of such right, either by publication in the Trust's prospectus, if any, or by such other means as the Board of Trustees may determine. Subject to the same terms and conditions, the Trust shall also have the right to redeem shares of the Trust, or a particular series, owned by any shareholder if, in the opinion of the Board of Trustees, ownership of shares of the Trust or series, respectively, has or may become concentrated to an extent which could cause the Trust to become a personal holding company within the meaning of the Internal Revenue Code.

Redemption of Shareholder’s Interest. The Trust shall have the right at its option and at any time to redeem shares of any shareholder at the net asset value thereof determined in accordance with Section III hereof: (i) if at such time such shareholder owns fewer shares than, or shares having an aggregate net asset value of less than, an amount determined from time to time by the Board of Trustees; or (ii) to the extent that such shareholder owns shares of a particular series or class of shares equal to or in excess of a percentage of the outstanding shares of that series or class determined from time to time by the Board of Trustees; or (iii) to the extent that such shareholder owns shares of the Trust representing a percentage equal to or in excess of such a percentage of the aggregate number of outstanding shares of the Trust or the aggregate net asset value of the Trust determined from time to time by the Board of Trustees, and subject to the Trust's giving general notice to all shareholders of its intention to avail itself of such right, either by publication in the Trust's prospectus, if any, or by such other means as the Board of Trustees may determine. Subject to the same terms and conditions, the Trust shall also have the right to redeem shares of the Trust, or a particular seriesseries or class, owned by any shareholder if, if in the opinion of the Board of Trustees, ownership of shares of the Trust or seriesseries or class, respectively, has or may become concentrated to an extent which could cause the Trust to become a personal holding company within the meaning of the Internal Revenue Code.

Redemption of Shareholder’s Interest. The Trust shall have the right at its option and at any time to redeem shares of any shareholder at the net asset value thereof determined in accordance with Section III hereof: (i) if at such time such shareholder owns fewer shares than, or shares having an aggregate net asset value of less than, an amount determined from time to time by the Board of Trustees; or (ii) to the extent that such shareholder owns shares of a particular series or class of shares equal to or in excess of a percentage of the outstanding shares of that series or class determined from time to time by the Board of Trustees; or (iii) to the extent that such shareholder owns shares of the Trust representing a percentage equal to or in excess of such percentage of the aggregate number of outstanding shares of the Trust or the aggregate net asset value of the Trust determined from time to time by the Board of Trustees, and subject to the Trust's giving general notice to all shareholders of its intention to avail itself of such right, either by publication in the Trust's prospectus, if any, or by such other means as the Board of Trustees may determine. Subject to the same terms and conditions, the Trust shall also have the right to redeem shares of the Trust, or a particular seriesseries or class, owned by any shareholder if, in the opinion of the Board of Trustees, ownership of shares of the Trust or seriesseries or class, respectively, has or may become concentrated to an extent which could cause the Trust to become a personal holding company within the meaning of the Internal Revenue Code.

Redemption of Shareholder’s Interest. The Trust shall have the right at its option and at any time to redeem shares of any shareholder at the net asset value thereof determined in accordance with Section III hereof: (i) if at such time such shareholder owns fewer shares than, or shares having an aggregate net asset value of less than, an amount determined from time to time by the Board of Trustees; or (ii) to the extent that such shareholder owns shares of a particular series of shares equal to or in excess of a percentage of the outstanding shares of that series determined from time to time by the Board of Trustees; or (iii) to the extent that such shareholder owns shares of the Trust representing a percentage equal to or in excess of such a percentage of the aggregate number of outstanding shares of the Trust or the aggregate net asset value of the Trust determined from time to time by the Board of Trustees, and subject to the Trust's giving general notice to all shareholders of its intention to avail itself of such right, either by publication in the Trust's prospectus, if any, or by such other means as the Board of Trustees may determine. Subject to the same terms and conditions, the Trust shall also have the right to redeem shares of the Trust, or a particular series, owned by any shareholder if, if in the opinion of the Board of Trustees, ownership of shares of the Trust or series, respectively, has or may become concentrated to an extent which could cause the Trust to become a personal holding company within the meaning of the Internal Revenue Code.