Common use of Term and Effectiveness Clause in Contracts

Term and Effectiveness. This Agreement shall become effective as of the date of the initial regular daily closing at which the Fund issues Shares. This Agreement shall remain in effect with respect to the Fund for two years, and thereafter shall continue automatically for successive annual periods, provided that such continuance is specifically approved at least annually by: (a) the vote of the Board; and (b) the vote of a majority of the Fund’s trustees who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the Investment Company Act) of any such party.

Term and Effectiveness. This Agreement shall become effective as of the date of the initial regular daily closing at which the Fund issues Shares. This Agreement hereof and shall remain in effect with respect to the Fund for two yearsyears and, and thereafter thereafter, shall continue automatically for successive annual periods, ; provided that such continuance is specifically approved at least annually by: (a) the vote of the Board; and (b) the vote of a majority of the Fund’s trustees who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the Investment Company Act) of any such party.

Term and Effectiveness. This Agreement shall become be effective as of the date of the initial regular daily closing at which the Fund issues SharesSeptember 12, 2018. This Agreement shall remain in effect with respect to the Fund for two years, and thereafter shall continue automatically for successive annual periods, provided that such continuance is specifically approved at least annually by: (a) the vote of the Board; and (b) the vote of a majority of the Fund’s trustees who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the Investment Company Act) of any such party.

Term and Effectiveness. This Agreement shall become effective as of the date of the initial regular daily closing at which the Fund issues Shares. This Agreement shall remain in effect with respect to the Fund for two years, and thereafter shall continue automatically for successive annual periods, provided that such continuance is specifically approved at least annually by: (a) the vote of the Board; and (b) the vote of a majority of the Fund’s trustees who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the Investment Company Act) of any such party.

Term and Effectiveness. This Agreement shall become effective as of the date of the initial regular daily closing at which the Fund issues Sharesfirst written above. This Agreement shall remain in effect with respect to the Fund Funds for two years, and thereafter shall continue automatically for successive annual periods, provided that such continuance is specifically approved at least annually by: (a) the vote of the BoardBoards; and (b) the vote of a majority of the Fund’s Funds’ trustees who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the Investment Company Act) of any such party.

Term and Effectiveness. This Agreement shall become effective as of the date of the initial regular daily closing at which of the Fund issues Sharesreorganization. This Agreement shall remain in effect with respect to the Fund for two years, and thereafter shall continue automatically for successive annual periods, provided that such continuance is specifically approved at least annually by: (a) the vote of the Board; and (b) the vote of a majority of the Fund’s trustees who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the Investment Company Act) of any such party.