Common use of Series Trust Clause in Contracts

Series Trust. The beneficial interest in the assets of the Trust shall be divided into designated series as provided in Section 3806(b)(2) of the Statutory Trust Statute (the segregated pool of assets belonging to each series, a “Sub-Trust”). Accordingly, it is the intent of the parties hereto that Articles II, IV and X of this Agreement shall apply also with respect to each such Sub-Trust as if each such Sub-Trust were a separate series of a statutory trust under the Statutory Trust Statute, and each reference to the term “Trust” in such Articles shall be deemed to be a reference to each such Sub-Trust to the extent necessary to give effect to the foregoing intent. The use of the terms “Trust” or “Sub-Trust” in this Agreement shall in no event alter the intent of the parties hereto that the Trust receive the full benefit of the limitation on interseries liability as set forth in Section 3804 of the Statutory Trust Statute.

Series Trust. The beneficial interest in the assets of the Trust shall be divided into designated series as provided in Section 3806(b)(2) of the Statutory Trust Statute (the segregated pool of assets belonging to each series, a “"Sub-Trust”"). Accordingly, it is the intent of the parties hereto that Articles II, IV and X of this Agreement shall apply also with respect to each such Sub-Trust as if each such Sub-Trust were a separate series of a statutory trust under the Statutory Trust Statute, and each reference to the term “"Trust” " in such Articles shall be deemed to be a reference to each such Sub-Trust to the extent necessary to give effect to the foregoing intent. The use of the terms “"Trust” " or “"Sub-Trust” " in this Agreement shall in no event alter the intent of the parties hereto that the Trust receive the full benefit of the limitation on interseries liability as set forth in Section 3804 of the Statutory Trust Statute.