Sole Discretion; Good Faith. Corporate Opportunities of Adviser 9
Sole Discretion; Good Faith. Corporate Opportunities of Advisor 12 Section 3.11 Determinations by the Board 13 ARTICLE IV FEES AND EXPENSES; ADVISORY, MANAGEMENT AND DISTRIBUTION ARRANGEMENTS 13 Section 4.1 Expenses 13 Section 4.2 Advisory and Management Arrangements 13 Section 4.3 Supervision of Advisor and Administrator 14
Sole Discretion; Good Faith. Corporate Opportunities of Advisor 12 Section 3.11 Determinations by the Board 13 ARTICLE IV FEES AND EXPENSES; ADVISORY, MANAGEMENT AND DISTRIBUTION ARRANGEMENTS 13 Section 4.1 Expenses. 13 Section 4.2 Advisory and Management Arrangements 13 -i- Section 4.3 Supervision of Advisor and Administrator. 14 Section 4.4 Fiduciary Obligations of Advisor 14 Section 4.5 Experience of Officers and Advisor 14 Section 4.6 Termination of Advisory Agreement 15 Section 4.7 Distribution Arrangements 15 Section 4.8 Parties to Contract 15 ARTICLE V INVESTMENT OBJECTIVES AND LIMITATIONS 16 Section 5.1 Investment Objective 16 Section 5.2 Investment in Other Programs 16 Section 5.3 Other Goods or Services. 17 ARTICLE VI CONFLICTS OF INTEREST 18 Section 6.1 Sales and Leases to Company 18 Section 6.2 Sales and Leases to the Advisor, Trustees or Affiliates 18 Section 6.3 Loans 19 Section 6.4 Commissions on Financing, Refinancing or Reinvestment 19 Section 6.5 Rebates, Kickbacks and Reciprocal Arrangements 19 Section 6.6 Exchanges 19 Section 6.7 Other Transactions 19 Section 6.8 Lending Practices 19 ARTICLE VII LIMITATIONS OF LIABILITY AND INDEMNIFICATION 20 Section 7.1 Limitation of Shareholder Liability. 20 Section 7.2 Limitation of Trustee and Officer Liability 20 Section 7.3 Indemnification 20 Section 7.4 Payment of Expenses. 22 Section 7.5 Limitations to Indemnification. 22 Section 7.6 Express Exculpatory Clauses in Instruments. 22 Section 7.7 Non-exclusivity. 22 Section 7.9 No Duty of Investigation; No Notice in Trust Instruments, etc. 22 Section 7.10 Reliance on Experts, etc. 23 -ii- ARTICLE VIII COMMON SHARES OF BENEFICIAL INTEREST 23 Section 8.1 Authorized Common Shares 23 Section 8.2 Other Securities 23 Section 8.3 Rights of Shareholders 24 Section 8.4 Trust Only 24 Section 8.5 Issuance of Common Shares 24 Section 8.6 Register of Common Shares 24 Section 8.7 Transfer Agent and Registrar 25 Section 8.8 Transfer of Common Shares 25 Section 8.9 Notices 25 Section 8.10 Derivative Actions 25 ARTICLE IX CUSTODIANS 26 Section 9.1 Appointment and Duties 26 Section 9.2 Central Certificate System 27 ARTICLE X REDEMPTION 27 Section 10.1 Redemptions 27 Section 10.2 Disclosure of Holding 27 Section 10.3 Redemption by Trust 27 ARTICLE XI NET ASSET VALUE AND DISTRIBUTIONS 27 Section 11.1 Net Asset Value 27 Section 11.2 Distributions to Shareholders. 27 Section 11.3 Deferred Payments 28 Section 11.4 Power to Modify Foregoing Procedures 29 ARTICLE XII SHAREHOLDERS 29
Sole Discretion; Good Faith. Corporate Opportunities of Advisor 12 Section 3.11 Determinations by the Board 13 ARTICLE IV FEES AND EXPENSES; ADVISORY, MANAGEMENT AND DISTRIBUTION ARRANGEMENTS 13 Section 4.1 Expenses 13 Section 4.2 Advisory and Management Arrangements 13 Section 4.3 Supervision of Advisor and Administrator 14 Section 4.4 Fiduciary Obligations of Advisor 14 Section 4.5 Experience of Officers and Advisor 14 Section 4.6 Termination of Advisory Agreement .15 Section 4.7 Distribution Arrangements 15 Section 4.8 Parties to Contract 15 ARTICLE V INVESTMENT OBJECTIVES AND LIMITATIONS 16 Section 5.1 Investment Objective 16 Section 5.2 Investment in Other Programs 16 Section 5.3 Other Goods or Services 17 ARTICLE VI CONFLICTS OF INTEREST 18 Section 6.1 Sales and Leases to Company 18 Section 6.2 Sales and Leases to the Advisor, Trustees or Affiliates 18 Section 6.3 Loans 19 Section 6.4 Commissions on Financing, Refinancing or Reinvestment 19 Section 6.5 Rebates, Kickbacks and Reciprocal Arrangements 19 Section 6.6 Exchanges 19 Section 6.7 Other Transactions 19 Section 6.8 Lending Practices 19
Sole Discretion; Good Faith. Corporate Opportunities of Advisor 9 Section 3.11 Trust Only 10 ARTICLE IV FEES AND EXPENSES; ADVISORY, MANAGEMENT AND DISTRIBUTION ARRANGEMENTS 10 Section 4.1 Expenses 10 Section 4.2 Advisory and Management Arrangements 10 Section 4.3 Distribution Arrangements 10 Section 4.4 Parties to Contract 11
