Common use of Trust Evaluation Clause in Contracts

Trust Evaluation. IBT shall compute and, unless otherwise directed by the Board, determine as of the close of regular trading on the New York Stock Exchange on each day on which said Exchange is open for unrestricted trading and as of such other days, or hours, if any, as may be authorized by the Board, the value of beneficial interests of the Trust and their allocation between or among portfolios that invest in the Trust, such determination to be made in accordance with the provisions of the Declaration of Trust and By-laws of the Trust, as they may from time to time be amended, and any applicable resolutions of the Board at the time in force and applicable; and promptly to notify the Trust, the proper exchange and the NASD or such other persons as the Trust may request of the results of such computation and determination. In computing the value of beneficial interests hereunder, IBT may rely in good faith upon information furnished to it by any Authorized Person in respect of (i) the manner of accrual of the liabilities of the Trust and in respect of liabilities of the Trust not appearing on its books of account kept by IBT, (ii) reserves, if any, authorized by the Board or that no such reserves have been authorized, (iii) the source of the quotations to be used in computing values hereunder, (iv) the value to be assigned to any security for which no price quotations are available, and (v) the method of computation and allocation of beneficial interests in the Trust, and IBT shall not be responsible for any loss occasioned by such reliance or for any good faith reliance on any quotations received from a source pursuant to (iii) above.

Trust Evaluation. IBT The Bank shall compute and, unless otherwise directed by the Board, determine as of the close of regular trading on the New York Stock Exchange on each day on which said Exchange is open for unrestricted trading and as of such other days, or hours, if any, as may be authorized by the Board, the net asset value and the public offering price of beneficial interests a share of the Trust and their allocation between or among portfolios that invest in capital stock of the Trust, such determination to be made in accordance with the provisions of the Declaration of Trust and By-laws and the Prospectus and Statement of Additional Information relating to the Trust, as they may from time to time be amended, and any applicable resolutions of the Board at the time in force and applicable; and promptly to notify the Trust, the proper exchange and the NASD or such other persons as the Trust may request of the results of such computation and determination. In computing the net asset value of beneficial interests hereunder, IBT the Bank may rely in good faith upon information furnished to it by any Authorized Person in respect of (i) the manner of accrual of the liabilities of the Trust and in respect of liabilities of the Trust not appearing on its books of account kept by IBTthe Bank, (ii) reserves, if any, authorized by the Board or that no such reserves have been authorized, (iii) the source of the quotations to be used in computing values hereunderthe net asset value, (iv) the value to be assigned to any security for which no price quotations are available, and (v) the method of computation and allocation of beneficial interests in the Trustpublic offering price on the basis of the net asset value of the shares, and IBT the Bank shall not be responsible for any loss occasioned by such reliance or for any good faith reliance on any quotations received from a source pursuant to (iii) above.

Trust Evaluation. IBT The Bank shall compute and, unless otherwise directed by the Board, determine as of the close of regular trading on the New York Stock Exchange on each day on which said Exchange exchange is open for unrestricted trading and as of such other days, or hours, if any, as may be authorized by the Board, the net asset value and the public offering price of beneficial interests a share of the Trust and their allocation between or among portfolios that invest in stock of the Trust, such determination to be made in accordance with the provisions of the Declaration of the Trust and By-laws the Prospectus and Statement of Additional Information relating to the Trust, as they may from time to time be amended, and any applicable resolutions of the Board at the time in force and applicable; and promptly to notify the Trust, the proper exchange and the NASD or such other persons as the Trust may request of the results of such computation and determination. In computing the net asset value of beneficial interests hereunder, IBT the Bank may rely in good faith upon information furnished to it by any Authorized Person in respect of (i) the manner of accrual of the liabilities of the Trust and in respect of liabilities of the Trust not appearing on its books of account kept by IBTthe Bank, (ii) reserves, if any, authorized by the Board or that no such reserves have been authorized, (iii) the source of the quotations to be used in computing values hereunderthe net asset value, (iv) the value to be assigned to any security for which no readily available market price quotations are availablecan be obtained, and (v) the method of computation and allocation of beneficial interests in the Trust, and IBT public offering price on the basis of the net asset value of the shares. The Bank shall not be responsible for any loss occasioned by such reliance or for any good faith reliance on any quotations received from a source pursuant to (iii) above.

Trust Evaluation. IBT The Bank shall compute and, unless otherwise ---------------- directed by the Board, determine as of the close of regular trading on the New York Stock Exchange on each day on which said Exchange exchange is open for unrestricted trading and as of such other days, or hours, if any, as may be authorized by the Board, the net asset value and the public offering price of beneficial interests a share of the Trust and their allocation between or among portfolios that invest in stock of the Trust, such determination to be made in accordance with the provisions of the Declaration of the Trust and By-laws the Prospectus and Statement of Additional Information relating to the Trust, as they may from time to time be amended, and any applicable resolutions of the Board at the time in force and applicable; and promptly to notify the Trust, the proper exchange and the NASD or such other persons as the Trust may request of the results of such computation and determination. In computing the net asset value of beneficial interests hereunder, IBT the Bank may rely in good faith upon information furnished to it by any Authorized Person in respect of (i) the manner of accrual of the liabilities of the Trust and in respect of liabilities of the Trust not appearing on its books of account kept by IBTthe Bank, (ii) reserves, if any, authorized by the Board or that no such reserves have been authorized, (iii) the source of the quotations to be used in computing values hereunderthe net asset value, (iv) the value to be assigned to any security for which no readily available market price quotations are availablecan be obtained, and (v) the method of computation and allocation of beneficial interests in the Trust, and IBT public offering price on the basis of the net asset value of the shares. The Bank shall not be responsible for any loss occasioned by such reliance or for any good faith reliance on any quotations received from a source pursuant to (iii) above.

Trust Evaluation. IBT The Bank shall compute and, unless otherwise directed by the Board, determine as of the close of regular trading on the New York Stock Exchange on each day on which said Exchange is open for unrestricted trading and as of such other days, or hours, if any, as may be authorized by the Board, the net asset value and the public offering price of beneficial interests a share of the Trust and their allocation between or among portfolios that invest in the Trustcapital stock of each Portfolio, such determination to be made in accordance with the provisions of the Declaration of Trust Articles and By-laws of the TrustTrust and the Prospectus and Statement of Additional Information relating to each Portfolio, as they may from time to time be amended, and any applicable resolutions of the Board at the time in November 2006 force and applicable; and promptly to notify the Trust, the proper exchange and the NASD or such other persons as the Trust may request of the results of such computation and determination. In computing the net asset value of beneficial interests hereunder, IBT the Bank may rely in good faith upon information furnished to it by any Authorized Person in respect of (i) the manner of accrual of the liabilities of the Trust each Portfolio and in respect of liabilities of the Trust each Portfolio not appearing on its books of account kept by IBTthe Bank, (ii) reserves, if any, authorized by the Board or that no such reserves have been authorized, (iii) the source of the quotations to be used in computing values hereunderthe net asset value, (iv) the value to be assigned to any security for which no price quotations are available, and (v) the method of computation and allocation of beneficial interests in the Trustpublic offering price on the basis of the net asset value of the shares, and IBT the Bank shall not be responsible for any loss occasioned by such reliance or for any good faith reliance on any quotations received from a source pursuant to (iii) or (iv) above.

Trust Evaluation. IBT The Bank shall compute and, unless otherwise directed by the Board, determine as of the close of regular trading on the New York Stock Exchange on each day on which said Exchange is open for unrestricted trading and as of such other days, or hours, if any, as may be authorized by the Board, Board the net asset value of beneficial interests of the Trust and their allocation between or among portfolios that invest in the Trust, such determination to be made in accordance with the provisions of the Declaration of Trust Articles and By-laws of the Trust and Prospectus and Statement of Additional Information relating to the Trust, as they may from time to time be amended, and any applicable resolutions of the Board at the time in force and applicable; and promptly to notify the Trust, the proper exchange and the NASD or such other persons as the Trust may request of the results of such computation and determination. In computing the net asset value of beneficial interests hereunder, IBT the Bank may rely in good faith upon information furnished to it by any Authorized Person in 24 respect of (i) the manner of accrual of the liabilities of the Trust and in respect of liabilities of the Trust not appearing on its books of account kept by IBTthe Bank, (ii) reserves, if any, authorized by the Board or that no such reserves have been authorized, (iii) the source of the quotations to be used in computing values hereunderthe net asset value, (iv) the value to be assigned to any security for which no price quotations are available, and (v) the method of computation and allocation of beneficial interests in the Trustnet asset value, and IBT the Bank shall not be responsible for any loss occasioned by such reliance or for any good faith reliance on any quotations received from a source pursuant to (iii) above. In addition, the Bank shall determine daily the net asset value of each investor's interest in the Trust and shall allocate daily on a book basis and annually or as mutually agreed on a tax basis among the investors in the Trust on a pro rata basis all incremental investment activity.