Common use of TRUST TRANSACTIONS Clause in Contracts

TRUST TRANSACTIONS. The Portfolio Manager agrees that neither it nor any of its officers or Directors will take any long or short term position in the shares of the Trust; provided, however, that such prohibition: a) shall not prevent the Portfolio Manager from purchasing shares of the Trust if orders to purchase such shares are placed upon the receipt by the Portfolio Manager of purchase orders for such shares and are not in excess of such purchase orders received by the Portfolio Manager; and b) shall not prevent the purchase of shares of the Trust by any of the persons above described for their account and for investment at the price at which such shares are available to the public at the time of purchase or as part of the initial capital of the Trust.

TRUST TRANSACTIONS. The Portfolio Manager agrees that neither it nor any of its officers or Directors Trustees will take any long or short term position in the shares of the Trust; provided, however, that such prohibition: (a) shall not prevent the Portfolio Manager from purchasing shares of the Trust if orders to purchase such shares are placed upon the receipt by the Portfolio Manager of purchase orders for such shares and are not in excess of such purchase orders received by the Portfolio Manager; and (b) shall not prevent the purchase of shares of the Trust by any of the persons above described for their account and for investment at the price at which such shares are available to the public at the time of purchase or as part of the initial capital of the Trust.

TRUST TRANSACTIONS. The Portfolio Manager agrees that neither it nor any of its officers or Directors will take any long or short term position in the shares of the Trust; provided, however, that such prohibition: (a) shall not prevent the Portfolio Manager from purchasing shares of the Trust if orders to purchase such shares are placed upon the receipt by the Portfolio Manager of purchase orders for such shares and are not in excess of such purchase orders received by the Portfolio Manager; and (b) shall not prevent the purchase of shares of the Trust by any of the persons above described for their account and for investment at the price at which such shares are available to the public at the time of purchase or as part of the initial capital of the Trust.