Common use of Repurchases Pursuant to Written Tender Offers Clause in Contracts

Repurchases Pursuant to Written Tender Offers. The Board of Trustees from time to time, in its sole discretion and on such terms and conditions as it may determine (subject to the 1940 Act and other applicable law), may cause the Trust to offer to repurchase Shares pursuant to written tender offers. In determining whether to cause the Trust to offer to repurchase Shares pursuant to written tender offers, the Board of Trustees shall consider such factors as it determines in its sole discretion. Without limiting the generality of the foregoing, the Board of Trustees may require any Shareholder who tenders for repurchase such Shareholder’s Shares (or a portion thereof) to maintain Shares with a minimum aggregate net asset value, as established by the Board of Trustees from time to time (unless all such Shareholder’s Shares in the Trust (or any applicable class of Shares) are repurchased in such tender offer). If a Shareholder tenders an amount that would cause the Shareholder to own Shares having an aggregate net asset value less than the minimum initial investment amount then applicable for investments in the Trust or the applicable class of Shares, the Trust has the right to reduce the amount to be purchased from such Shareholder pursuant to the tender so that the aggregate net asset value of the Shares held by such Shareholder after giving effect to the tender would equal or exceed the minimum initial investment amount then applicable for investments in the Trust or the applicable class of Shares or the Trust may repurchase all of such Shareholder’s Shares in the Trust or the applicable class of Shares. Any investment adviser to the Trust and any Trustee and any “affiliated person” (as defined in the 1000 Xxx) of any investment adviser to the Trust and any Trustee may tender its Shares as a Shareholder under this Section 9.2

Repurchases Pursuant to Written Tender Offers. The Board of Trustees from time to time, in its sole discretion and on such terms and conditions as it may determine (subject to the 1940 Act and other applicable law), may cause the Trust to offer to repurchase Shares pursuant to written tender offers. In determining whether to cause the Trust to offer to repurchase Shares pursuant to written tender offers, the Board of Trustees shall consider such factors as it determines in its sole discretion. Without limiting the generality of the foregoing, the Board of Trustees may require any Shareholder who tenders for repurchase such Shareholder’s Shares (or a portion thereof) to maintain Shares with a minimum aggregate net asset value, as established by the Board of Trustees from time to time (unless all such Shareholder’s Shares in the Trust (or any applicable class of Shares) are repurchased in such tender offer). If a Shareholder tenders an amount that would cause the Shareholder to own Shares having an aggregate net asset value less than the minimum initial investment amount then applicable for investments in the Trust or the applicable class of Shares, the Trust has the right to reduce the amount to be purchased from such Shareholder pursuant to the tender so that the aggregate net asset value of the Shares held by such Shareholder after giving effect to the tender would equal or exceed the minimum initial investment amount then applicable for investments in the Trust or the applicable class of Shares or the Trust may repurchase all of such Shareholder’s Shares in the Trust or the applicable class of Shares. Any investment adviser to the Trust and any Trustee and any “affiliated person” (as defined in the 1000 Xxx) Affiliated Person of any investment adviser to the Trust and any Trustee may tender its Shares as a Shareholder under this Section 9.28.2

Repurchases Pursuant to Written Tender Offers. The Board of Trustees from time to time, in its sole discretion and on such terms and conditions as it may determine (subject to the 1940 Act and other applicable law), may cause the Trust to offer to repurchase Shares pursuant to written tender offers. In determining whether to cause the Trust to offer to repurchase Shares pursuant to written tender offers, the Board of Trustees shall consider such factors as it determines in its sole discretiondiscretion and such factors, if any, set forth in the Prospectus of the Trust. Without limiting the generality of the foregoing, the Board of Trustees may require any Shareholder who tenders for repurchase such Shareholder’s Shares (or a portion thereof) to maintain Shares with a minimum aggregate net asset value, as established by the Board of Trustees from time to time (unless all such Shareholder’s Shares in the Trust (or any applicable class of Shares) are repurchased in such tender offer). If a Shareholder tenders an amount that would cause the Shareholder to own Shares having an aggregate net asset value less than the minimum initial investment amount then applicable for investments in the Trust or the applicable class of Shares, the Trust has the right to reduce the amount to be purchased from such Shareholder pursuant to the tender so that the aggregate net asset value of the Shares held by such Shareholder after giving effect to the tender would equal or exceed the minimum initial investment amount then applicable for investments in the Trust or the applicable class of Shares or the Trust may repurchase all of such Shareholder’s Shares in the Trust or the applicable class of Shares. Any investment adviser to the Trust and any Trustee and any “affiliated person” (as defined in the 1000 Xxx) Affiliated Person of any investment adviser to the Trust and any Trustee may tender its Shares as a Shareholder under this Section 9.28.2

Repurchases Pursuant to Written Tender Offers. The Board of Trustees from time to time, in its sole discretion and on such terms and conditions as it may determine (subject to the 1940 Act and other applicable law), may cause the Trust to offer to repurchase Shares pursuant to written tender offers. In determining whether to cause the Trust to offer to repurchase Shares pursuant to written tender offers, the Board of Trustees shall consider such factors as it determines in its sole discretion. Without limiting the generality of the foregoing, the Board of Trustees may require any Shareholder who tenders for repurchase such Shareholder’s Shares (or a portion thereof) to maintain Shares with a minimum aggregate net asset value, as established by the Board of Trustees from time to time (unless all such Shareholder’s Shares in the Trust (or any applicable class of Shares) are repurchased in such tender offer). If a Shareholder tenders an amount that would cause the Shareholder to own Shares having an aggregate net asset value less than the minimum initial investment amount then applicable for investments in the Trust or the applicable class of Shares, the Trust has the right to reduce the amount to be purchased from such Shareholder pursuant to the tender so that the aggregate net asset value of the Shares held by such Shareholder after giving effect to the tender would equal or exceed the minimum initial investment amount then applicable for investments in the Trust or the applicable class of Shares or the Trust may repurchase all of such Shareholder’s Shares in the Trust or the applicable class of Shares. Any investment adviser to the Trust and any Trustee and any “affiliated person” (as defined in the 1000 0000 Xxx) of any investment adviser to the Trust and any Trustee may tender its Shares as a Shareholder under this Section 9.2