Common use of Trustees, Shareholders, etc Clause in Contracts

Trustees, Shareholders, etc. Not Personally Liable; Notice. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, shall be personally liable therefor. Nothing in this Declaration of Trust shall protect any Trustee against any liability to which such Trustee would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, by any officer or officers or otherwise shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth of Massachusetts and shall recite that the same was executed or made by or on behalf of the Trust or by them as Trustee or Trustees or as officer or officers or otherwise and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriate, but the omission of any such recital shall not operate to bind any Trustee or Trustees or officer or officers or Shareholders or any other person individually.

Trustees, Shareholders, etc. Not Personally Liable; Notice. All persons extending credit to, contracting with or having any claim against any Series of the Trust (or the Trust on behalf of any Series or class Series) shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, shall be personally liable therefor. Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only by or for the Trust or the Trustees and not personally. Nothing in this Declaration of Trust shall protect any Trustee or officer against any liability to the Trust or the Shareholders to which such Trustee or officer would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth State of Massachusetts Ohio and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriateTrust, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or any other person Shareholder individually.

Trustees, Shareholders, etc. Not Personally Liable; Notice. All persons extending credit toThe Trustees, contracting with or having any claim against the Trust or any Series or class shall look only to the assets officers, employees and agents of the Trust, orin incurring any debts, liabilities or obligations, or in limiting or omitting any other actions for or in connection with the Trust, are or shall be deemed to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, for payment under such credit, contract or claim; and neither the Shareholders nor the be acting as Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, agents of the Trust and not in their own capacities. No Shareholder shall be personally liable therefor. Nothing subject to any personal liability whatsoever in tort, contract or otherwise to any other Person or Persons in connection with the assets or the affairs of the Trust or of any Series, and subject to Section 4 of this Declaration Article VII, no Trustee, officer, employee or agent of the Trust shall protect any Trustee against any liability to which such Trustee would otherwise be subject by reason to any personal liability whatsoever in tort, contract, or otherwise, to any other Person or Persons in connection with the assets or affairs of the Trust or of any Series, save only that arising from his or her own willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of his or her office or the office discharge of Trusteehis or her functions. Every The Trust (or if the matter relates only to a particular Series, that Series) shall be solely liable for any and all debts, claims, demands, judgments, decrees, liabilities or obligations of any and every kind, against or with respect to the Trust or such Series in tort, contract or otherwise in connection with the assets or the affairs of the Trust or such Series, and all Persons dealing with the Trust or any Series shall be deemed to have agreed that resort shall be had solely to the Trust Property of the Trust (or if the matter relates only to a particular Series, that of such Series), for the payment or performance thereof. The Trustees may provide that every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration a Certificate of Trust in respect of the Trust is on file with the Secretary of State of the Commonwealth State of Massachusetts Delaware and shall may recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer, and not individually individually, and that the obligations of such any instrument made or issued by the Trustees or by any officer of officers of the Trust are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust Trust, or upon the assets belonging to particular Series in question, as the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and case may contain such further recital as he or she or they may deem appropriate, but the be. The omission of any statement to such recital effect from such instrument shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or Shareholder individually, or to subject the assets of any Series to the obligations of any other person individuallySeries.

Trustees, Shareholders, etc. Not Personally LiableNOT PERSONALLY LIABLE; NoticeNOTICE. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, shall be personally liable therefor. Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only by or for the Trust or the Trustees and not personally. Nothing in this Declaration of Trust shall protect any Trustee or officer against any liability to the Trust or the Shareholders to which such Trustee or officer would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth State of Massachusetts Ohio and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriateTrust, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or any other person Shareholder individually.

Trustees, Shareholders, etc. Not Personally LiableNOT PERSONALLY LIABLE; NoticeNOTICE. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, shall be personally liable therefor. Nothing in this Declaration of Trust shall protect any Trustee against any liability to which such Trustee would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, by any officer or officers or otherwise shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth of Massachusetts and shall recite that the same was executed or made by or on behalf of the Trust or by them as Trustee or Trustees or as officer or officers or otherwise and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriate, but the omission of any such recital shall not operate to bind any Trustee or Trustees or officer or officers or Shareholders or any other person individually.

Trustees, Shareholders, etc. Not Personally Liable; Notice. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class Class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series (or attributable the assets allocable to a particular classClass), only to the assets belonging to the relevant Series (or attributable allocable to the relevant classClass), for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, shall be personally liable therefor. Nothing in this Declaration of Trust shall protect any Trustee against any liability to which such Trustee would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, by any officers or officer or officers or otherwise shall give notice that this Declaration of Trust is on file with the Secretary of the The Commonwealth of Massachusetts and shall recite that the same was executed or made by or on behalf of the Trust or by them as Trustee or Trustees or as officers or officer or officers or otherwise and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series (or attributable allocable to the class Class) for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made made, or issued, and may contain such further recital as he or she or they may deem appropriate, but the omission of any such recital shall not operate to bind any Trustee or Trustees or officers or officer or officers or Shareholders or any other person individually.

Trustees, Shareholders, etc. Not Personally Liable; Notice. All persons extending credit toThe Trustees, contracting with or having any claim against the Trust or any Series or class shall look only to the assets officers, employees and agents of the Trust, orin incurring any debts, liabilities or obligations, or in limiting or omitting any other actions for or in connection with the Trust, are or shall be deemed to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, for payment under such credit, contract or claim; and neither the Shareholders nor the be acting as Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, agents of the Trust and not in their own capacities. No Shareholder shall be personally liable therefor. Nothing subject to any personal liability whatsoever in this Declaration tort, contract or otherwise to any other Person or Persons in connection with the assets or the affairs of the Trust or of any Series, and subject to Section 8.5 hereof, no Trustee, officer, employee or agent of the Trust shall protect any Trustee against any liability to which such Trustee would otherwise be subject by reason to any personal liability whatsoever in tort, contract, or otherwise, to any other Person or Persons in connection with the assets or affairs of the Trust or of any Series, save only that arising from his own willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of his office or the office discharge of Trusteehis functions. Every The Trust (or if the matter relates only to a particular Series, that Series) shall be solely liable for any and all debts, claims, demands, judgments, decrees, liabilities or obligations of any and every kind, against or with respect to the Trust or such Series in tort, contract or otherwise in connection with the assets or the affairs of the Trust or such Series, and all Persons dealing with the Trust or any Series shall be deemed to have agreed that resort shall be had solely to the Trust Property or the assets of such Series, as the case may be, for the payment or performance thereof. The Trustees shall use their best efforts to ensure that every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this a Certificate of Trust, referring to the Declaration of Trust Trust, is on file with the Secretary of State of the Commonwealth State of Massachusetts Delaware and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer, and not individually individually, and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust Trust, or upon the assets belonging to particular Series in question, as the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and case may contain such further recital as he or she or they may deem appropriatebe, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or Shareholder individually, or to subject the assets of any Series to the obligations of any other person individuallySeries. No Trustee who has been determined to be an “audit committee financial expert” (for purposes of Section 407 of the Sxxxxxxx-Xxxxx Act of 2002 or any successor provision thereto) by the Board of Trustees shall be subject to any greater liability or duty of care in discharging such Trustee’s duties and responsibilities by virtue of such determination than is any Trustee who has not been so designated.

Trustees, Shareholders, etc. Not Personally LiableNOT PERSONALLY LIABLE; Notice. NOTICE All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular classSeries, only to the assets belonging to the relevant Series or attributable to the relevant classSeries, for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, shall be personally liable therefor. Nothing in this Declaration of Trust shall protect any Trustee against any liability to which such Trustee would otherwise be subject by reason of or willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, by any an officer or officers or otherwise shall give may include a notice that this Declaration of Trust is on file with the Secretary of the Commonwealth of Massachusetts and shall may recite that the same note, bond, contract, instrument, certificate, or undertaking was executed or made by or on behalf of the Trust or by them as Trustee or Trustees or as officer or officers or otherwise and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, contract instrument, certificate or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriate, but the omission of any such recital shall not operate to bind any Trustee or Trustees or officer or officers or Shareholders or any other person individually.

Trustees, Shareholders, etc. Not Personally Liable; Notice. All persons extending credit toThe Trustees, contracting with or having any claim against the Trust or any Series or class shall look only to the assets officers, employees and agents of the Trust, orin incurring any debts, liabilities or obligations, or in limiting or omitting any other actions for or in connection with the Trust, are or shall be deemed to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, for payment under such credit, contract or claim; and neither the Shareholders nor the be acting as Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, agents of the Trust and not in their own capacities. No Shareholder shall be personally liable therefor. Nothing subject to any personal liability whatsoever in tort, contract or otherwise to any other Person or Persons in connection with the assets or the affairs of the Trust or of any Series, and subject to Section 4 of this Declaration Article VII, no Trustee, officer, employee or agent of the Trust shall protect any Trustee against any liability to which such Trustee would otherwise be subject by reason to any personal liability whatsoever in tort, contract, or otherwise, to any other Person or Persons in connection with the assets or affairs of the Trust or of any Series, save only that arising from his or her own willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of his or her office or the office discharge of Trusteehis or her functions. Every noteThe Trust (or if the matter relates only to a particular Series, bondthat Series) shall be solely liable for any and all debts, contractclaims, instrumentdemands, certificate judgments, decrees, liabilities or undertaking made obligations of any and every kind, against or issued on behalf of with respect to the Trust by the Trusteesor such Series in tort, by any officer or officers contract or otherwise shall give notice that this Declaration of Trust is on file in connection with the Secretary of assets or the Commonwealth of Massachusetts and shall recite that the same was executed or made by or on behalf affairs of the Trust or such Series, and all Persons dealing with the Trust or any Series shall be deemed to have agreed that resort shall be had solely to the Trust Property of the Trust (or if the matter relates only to a particular Series, that of such Series), for the payment or performance thereof. The obligations of any instrument made or issued by them as Trustee or the Trustees or as by any officer or of officers or otherwise and not individually and that of the obligations of such instrument Trust are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust Trust, or upon the assets belonging to particular Series in question, as the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and case may contain such further recital as he or she or they may deem appropriate, but the be. The omission of any statement to such recital effect from such instrument shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or Shareholder individually, or to subject the assets of any Series to the obligations of any other person individuallySeries.

Trustees, Shareholders, etc. Not Personally Liable; Notice. Notice All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular classSeries, only to the assets belonging to the relevant Series or attributable to the relevant classSeries, for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, shall be personally liable therefor. Nothing in this Declaration of Trust shall protect any Trustee against any liability to which such Trustee would otherwise be subject by reason of or willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, by any an officer or officers or otherwise shall give may include a notice that this Declaration of Trust is on file with the Secretary of the Commonwealth of Massachusetts and shall may recite that the same note, bond, contract, instrument, certificate, or undertaking was executed or made by or on behalf of the Trust or by them as Trustee or Trustees or as officer or officers or otherwise and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, contract instrument, certificate or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriate, but the omission of any such recital shall not operate to bind any Trustee or Trustees or officer or officers or Shareholders or any other person individually.

Trustees, Shareholders, etc. Not Personally LiableNOT PERSONALLY LIABLE; NoticeNOTICE. All persons extending credit to, contracting with or having any claim against any Series of the Trust (or the Trust on behalf of any Series or class Series) shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, shall be personally liable therefor. Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only by or for the Trust or the Trustees and not personally. Nothing in this Declaration of Trust shall protect any Trustee or officer against any liability to the Trust or the Shareholders to which such Trustee or officer would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth State of Massachusetts Ohio and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriateTrust, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or any other person Shareholder individually.

Trustees, Shareholders, etc. Not Personally Liable; Notice. All persons extending credit to, ------------------------------------------------------------- contracting with or having any claim against the Trust or any Series series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series series or attributable to a particular class, only to the assets belonging to the relevant Series series or attributable to the relevant class, for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, shall be personally liable therefor. Nothing The Board of Trustees shall not be responsible or liable in this Declaration any event for any neglect or wrongdoing of Trust any officer, agent, employee, investment adviser or principal underwriter of the Trust, nor shall any Trustee be responsible for the act or omission of any other Trustee, but nothing herein shall protect any Trustee against any liability to which such Trustee would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, by any officer Trustees or Trustee or by any officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth of Massachusetts and shall recite that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series series or attributable to the class for the benefit of to which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issuedsuch instrument relates, and may contain such further recital as he or she or they may deem appropriate, but the omission of any such recital thereof shall not operate to bind any Trustee or Trustees or officer Trustee or officers or officer, or Shareholders or Shareholder individually. Every note, bond, contract, instrument, certificate, share or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust or the Board of Trustees or any other person individuallyof them in connection with the Trust shall be conclusively deemed to have been executed or done only in or with respect to their or his capacity as Trustees or Trustee, and such Trustees or Trustee shall not be personally liable thereon.

Trustees, Shareholders, etc. Not Personally LiableNOT PERSONALLY LIABLE; NoticeNOTICE. No Trustee, officer, employee or agent of the Trust shall be subject to any personal liability whatsoever to any person in connection with Trust property or the affairs of the Trust; and all persons shall look solely to the Trust property for satisfaction of claims of any nature arising in connection with the affairs of the Trust. No Shareholder or former Shareholder shall be subject to any personal liability whatsoever to any person in connection with Trust property or the acts, obligations or affairs of the Trust solely by reason of being or having been a Shareholder. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, shall be personally liable therefor. Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only by or for the Trust or the Trustees and not personally. Nothing in this Declaration of Trust shall protect any Trustee or officer against any liability to the Trust or the Shareholders to which such Trustee or officer would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer. Every written note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth State of Massachusetts Ohio and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriateTrust, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or any other person Shareholder individually.

Trustees, Shareholders, etc. Not Personally LiableNOT PERSONALLY LIABLE; Notice. NOTICE All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular classSeries, only to the assets belonging to the relevant Series or attributable to the relevant classSeries, for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, shall be personally liable therefor. Nothing in this Declaration of Trust shall protect any Trustee against any liability to which such Trustee would otherwise be subject by reason of willful or wilful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, by any an officer or officers or otherwise shall give may include a notice that this Declaration of Trust is on file with the Secretary of the Commonwealth of Massachusetts and shall may recite that the same note, bond, contract, instrument, certificate, or undertaking was executed or made by or on behalf of the Trust or by them as Trustee or Trustees or as officer or officers or otherwise and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, contract instrument, certificate or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriate, but the omission of any such recital shall not operate to bind any Trustee or Trustees or officer or officers or Shareholders or any other person individually.

Trustees, Shareholders, etc. Not Personally Liable; Notice. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, shall be personally liable therefor. Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only by or for the Trust or the Trustees and not personally. Nothing in this Declaration of Trust shall protect any Trustee or officer against any liability to the Trust or the Shareholders to which such Trustee or officer would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth State of Massachusetts Ohio and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriateTrust, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or any other person Shareholder individually.

Trustees, Shareholders, etc. Not Personally LiableNOT PERSONALLY LIABLE; NoticeNOTICE. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Sub-Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, with which such person dealt for payment under such credit, contract or claim; and neither the Shareholders of any Sub-trust nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, nor any other Sub-Trust shall be personally liable therefor. Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust, any Sub-Trust or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only by or for the Trust (or the Sub-Trust) or the Trustees and not personally. Nothing in this Declaration of Trust shall protect any Trustee or officer against any liability to the Trust or the Shareholders to which such Trustee or officer would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the The Commonwealth of Massachusetts and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust, or the particular Sub-Trust or upon in question, as the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and case may contain such further recital as he or she or they may deem appropriatebe, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or any other person Shareholder individually.

Trustees, Shareholders, etc. Not Personally LiableNOT PERSONALLY LIABLE; NoticeNOTICE SECTION 1. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class a particular series of Shares shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to or the assets of a that particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, series of Shares for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, shall be personally liable therefor. Nothing in this Declaration of Trust shall protect any Trustee against any liability to which such Trustee would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth of Massachusetts and shall recite that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issuedTrust, and may contain such further recital as he or she or they may deem appropriate, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or Shareholder individually. TRUSTEES' GOOD FAITH ACTION, EXPERT ADVICE; NO BOND OR SURETY SECTION 2. The exercise by the Trustees of their powers and discretion hereunder shall be binding upon everyone interested. A Trustee shall be liable for his or her own willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee, and for nothing else, and shall not be liable for errors of judgment or mistakes of fact or law. The Trustees may take advice of counsel or other experts with respect to the meaning and operation of this Declaration of Trust, and shall be under no liability for any other person individuallyact or omission in accordance with such advice or for failing to follow such advice. The Trustees shall not be required to give any bond as such, nor any surety if a bond is required.

Trustees, Shareholders, etc. Not Personally LiableNOT PERSONALLY LIABLE; NoticeNOTICE. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class Class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series (or attributable the assets allocable to a particular classClass), only to the assets belonging to the relevant Series (or attributable allocable to the relevant classClass), for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, shall be personally liable therefor. Nothing in this Declaration of Trust shall protect any Trustee against any liability to which such Trustee would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, by any officers or officer or officers or otherwise shall give notice that this Declaration of Trust is on file with the Secretary of the The Commonwealth of Massachusetts and shall recite that the same was executed or made by or on behalf of the Trust or by them as Trustee or Trustees or as officers or officer or officers or otherwise and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series (or attributable allocable to the class Class) for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made made, or issued, and may contain such further recital as he or she or they may deem appropriate, but the omission of any such recital shall not operate to bind any Trustee or Trustees or officers or officer or officers or Shareholders or any other person individually.

Trustees, Shareholders, etc. Not Personally LiableNOT PERSONALLY LIABLE; NoticeNOTICE. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Sub-Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, with which such person dealt for payment under such credit, contract or claim; and neither the Shareholders of any Sub-trust nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, nor any other Sub-Trust shall be personally liable therefor. Nothing Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust, any Sub-Trust or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only by or for the Trust (or the Sub-Trust) or the Trustees and not personally. The Trustees and the Trust's officers, employees and agents shall not be liable to the Trust or the Shareholders; provided however, that nothing in this Declaration of Trust shall protect any Trustee or officer, employee or agent against any liability to the Trust or the Shareholders to which such Trustee or officer, employee or agent would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer, employee or agent. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth of Massachusetts and shall recite officer may contain a statement that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust, or the particular Sub-Trust in question, as the case may be, but the omission thereof shall not operate to bind any Trustees or upon the assets belonging to the Series Trustee or attributable to the class for the benefit of which the Trustees have caused the officers or officer or Shareholders or Shareholder individually or otherwise invalidate any such note, bond, contract, instrument, certificate or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriate, but the omission of any such recital shall not operate to bind any Trustee or Trustees or officer or officers or Shareholders or any other person individuallyundertaking.

Trustees, Shareholders, etc. Not Personally LiableNOT PERSONALLY LIABLE; NoticeNOTICE. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular classSeries, only to the assets belonging to the relevant Series or attributable to the relevant classSeries, for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, shall be personally liable therefor. Nothing in this Declaration of Trust shall protect any Trustee against any liability to which such Trustee would otherwise be subject by reason of willful wilful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Board of Trustees, by any officers or officer or officers or otherwise shall give may include a notice that this Declaration of Trust is on file with the Secretary of the The Commonwealth of Massachusetts and shall may recite that the same note, bond, contract, instrument, certificate or undertaking was executed or made by or on behalf of the Trust or by them as Trustee or Trustees or as officers or officer or officers or otherwise and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriate, but the omission of any such recital shall not operate to bind any Trustee or Trustees or officer or officers or Shareholders or of any other person individually.

Trustees, Shareholders, etc. Not Personally Liable; Notice. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, Class with which such person dealt for payment under such credit, contract or claim; and neither the Shareholders of any Series or Class nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or of future, nor any other Series shall be personally liable therefor. Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust, and Series or Class or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only by or for the Trust (or the Series or Class) or the Trustees and not personally. Nothing in this Declaration of Trust shall protect any Trustee or officer against any liability to the Trust or the Shareholders to which such Trustee or officer would otherwise be subject by reason of willful wilful misfeasance, bad faith, gross negligence negligence, or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth of Massachusetts and shall recite that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust Trust, or upon the assets belonging to the particular Series or attributable to Class in question, as the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and case may contain such further recital as he or she or they may deem appropriatebe, but the omission of any such recital thereof shall not operate to bind any Trustee or Trustees or officer Trustee or officers or officer of Shareholders or any other person Shareholder individually.

Trustees, Shareholders, etc. Not Personally Liable; Notice. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular classSeries, only to the assets belonging to the relevant Series or attributable to the relevant classSeries, for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, shall be personally liable therefor. Nothing in this Declaration of Trust shall protect any Trustee against any liability to which such Trustee would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, by any officers or officer or officers or otherwise shall give notice that this Declaration of Trust is on file with the Secretary of the The Commonwealth of Massachusetts and shall recite that the same was executed or made by or on behalf of the Trust or by them as Trustee or Trustees or as officers or officer or officers or otherwise and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriate, but the omission of any such recital shall not operate to bind any Trustee or Trustees or officers or officer or officers or Shareholders or any other person individually.

Trustees, Shareholders, etc. Not Personally LiableNOT PERSONALLY LIABLE; Notice. NOTICE All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Sub-Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, with which such person dealt for payment under such credit, contract or claim; and neither the Shareholders of any Sub-trust nor the Trustees, nor any of the Trust's ’s officers, employees or agents, whether past, present or future, nor any other Sub-Trust shall be personally liable therefor. Nothing Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust, any Sub-Trust or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only by or for the Trust (or the Sub-Trust) or the Trustees and not personally. The Trustees and the Trust’s officers, employees and agents shall not be liable to the Trust or the Shareholders; provided however, that nothing in this Declaration of Trust shall protect any Trustee or officer, employee or agent against any liability to the Trust or the Shareholders to which such Trustee or officer, employee or agent would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer, employee or agent. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth of Massachusetts and shall recite officer may contain a statement that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust, or the particular Sub-Trust in question, as the case may be, but the omission thereof shall not operate to bind any Trustees or upon the assets belonging to the Series Trustee or attributable to the class for the benefit of which the Trustees have caused the officers or officer or Shareholders or Shareholder individually or otherwise invalidate any such note, bond, contract, instrument, certificate or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriate, but the omission of any such recital shall not operate to bind any Trustee or Trustees or officer or officers or Shareholders or any other person individuallyundertaking.

Trustees, Shareholders, etc. Not Personally LiableNOT PERSONALLY LIABLE; NoticeNOTICE. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class a particular series of shares shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to or the assets of a that particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, series of shares for payment under such credit, contract or claim; and neither the Shareholders shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, shall be personally liable therefor. Nothing The Board of Trustees shall not be responsible or liable in this Declaration any event for any neglect or wrongdoing of Trust any officer, agent, employee, investment adviser or principal underwriter of the Trust, nor shall any Trustee be responsible for the act or omission of any other Trustee, but nothing herein shall protect any Trustee against any liability to which such Trustee would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, by any officer Trustees or Trustee or by any officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth of Massachusetts and shall recite that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders shareholders individually but are binding only upon the assets and property of the Trust Trust, or upon of the assets belonging particular series of shares to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issuedsuch instrument relates, and may contain such further recital as he or she or they may deem appropriate, but the omission of any such recital thereof shall not operate to bind any Trustee or Trustees or officer Trustee or officers or Shareholders officer, or shareholders or shareholder individually. Every note, bond, contract, instrument, certificate, share or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust or the Board of Trustees or any other person individuallyof them in connection with the Trust shall be conclusively deemed to have been executed or done only in or with respect to their or his capacity as Trustees or Trustee, and such Trustees or Trustee shall not be personally liable thereon.

Trustees, Shareholders, etc. Not Personally Liable; Notice. No Trustee, officer, employee or agent of the Trust shall be subject to any personal liability whatsoever to any person in connection with Trust property or the affairs of the Trust; and all persons shall look solely to the Trust property for satisfaction of claims of any nature arising in connection with the affairs of the Trust. No Shareholder or former Shareholder shall be subject to any personal liability whatsoever to any person in connection with Trust property or the acts, obligations or affairs of the Trust solely by reason of being or having been a Shareholder. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, shall be personally liable therefor. Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only by or for the Trust or the Trustees and not personally. Nothing in this Declaration of Trust shall protect any Trustee or officer against any liability to the Trust or the Shareholders to which such Trustee or officer would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer. Every written note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth State of Massachusetts Ohio and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriateTrust, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or any other person Shareholder individually.

Trustees, Shareholders, etc. Not Personally LiableNOT PERSONALLY LIABLE; NoticeNOTICE. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets The Trustees and officers of the Trust, orin incurring any debts, liabilities or obligations, or in limiting or omitting any other actions for or in connection with the Trust, are or shall be deemed to the extent that the liability be acting as Trustees or officers of the Trust may have been expressly limited by contract and not in their own capacities. No Shareholder shall be subject to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, for payment under such creditany personal liability whatsoever in tort, contract or claim; and neither otherwise to any other Person or Persons in connection with the Shareholders nor assets or the Trustees, nor any affairs of the Trust's officersTrust or of any Portfolio, employees and subject to Section 8.4 hereof, no Trustee, officer, employee or agents, whether past, present or future, agent of the Trust shall be personally liable therefor. Nothing subject to any personal liability whatsoever in this Declaration tort, contract, or otherwise, to any other Person or Persons in connection with the assets or affairs of the Trust shall protect or of any Trustee against any liability to which such Trustee would otherwise be subject by reason of Portfolio, save only that arising from his own willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of his office or the office discharge of Trusteehis functions. Every The Trust (or if the matter relates only to a particular Portfolio, that Portfolio) shall be solely liable for any and all debts, claims, demands, judgments, decrees, liabilities or obligations of any and every kind, against or with respect to the Trust or such Portfolio in tort, contract or otherwise in connection with the assets or the affairs of the Trust or such Portfolio, and all Persons dealing with the Trust or any Portfolio shall be deemed to have agreed that resort shall be had solely to the Trust Property of the Trust or the Portfolio Assets of such Portfolio, as the case may be, for the payment or performance thereof. The Trustees shall use their best efforts to ensure that every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the The Commonwealth of Massachusetts and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer, and not individually individually, and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust Trust, or upon the assets belonging to particular Portfolio in question, as the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and case may contain such further recital as he or she or they may deem appropriatebe, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or Shareholder individually, or to subject the Portfolio Assets of any Portfolio to the obligations of any other person individuallyPortfolio.

Trustees, Shareholders, etc. Not Personally Liable; Notice. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, with which such person dealt for payment under such credit, contract or claim; and neither the Shareholders of any Series nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, nor any other Series shall be personally liable therefor. Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust, any Series or Class, or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only by or for the Trust (or the Series or Class) or the Trustees and not personally. Nothing in this Declaration of Trust shall protect any Trustee or officer against any liability to the Trust or the Shareholders to which such Trustee or officer would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer. Every note, bond, contract, instrument, certificate certificate, share or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the The Commonwealth of Massachusetts and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually individually, and that the obligations of such instrument bond, contract, instrument, certificate, share or undertaking are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust Trust, or upon the assets belonging to particular Series in question, as the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and case may contain such further recital as he or she or they may deem appropriatebe, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or any other person Shareholder individually.

Trustees, Shareholders, etc. Not Personally Liable; Liable Notice. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets The Trustees and officers of the Trust, orin incurring any debts, liabilities or obligations, or in limiting or omitting any other actions for or in connection with the Trust, are or shall be deemed to the extent that the liability be acting as Trustees or officers of the Trust may have been expressly limited by contract and not in their own capacities. No Shareholder shall be subject to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, for payment under such creditany personal liability whatsoever in tort, contract or claim; and neither otherwise to any other Person or Persons in connection with the Shareholders nor assets or the Trustees, nor any affairs of the Trust's officersTrust or of any Fund, employees and subject to Section 8.4 hereof, no Trustee, officer, employee or agents, whether past, present or future, agent of the Trust shall be personally liable therefor. Nothing subject to any personal liability whatsoever in this Declaration tort, contract, or otherwise, to any other Person or Persons in connection with the assets or affairs of the Trust shall protect or of any Trustee against any liability to which such Trustee would otherwise be subject by reason of Fund, save only that arising from his own willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of his office or the office discharge of Trusteehis functions. Every The Trust (or if the matter relates only to a particular Fund, that Fund) shall be solely liable for any and all debts, claims, demands, judgments, decrees, liabilities or obligations of any and every kind, against or with respect to the Trust or such Fund in tort, contract or otherwise in connection with the assets or the affairs of the Trust or such Fund, and all Persons dealing with the Trust or any Fund shall be deemed to have agreed that resort shall be had solely to the Trust Property of the Trust or the Fund Assets of such Fund, as the case may be, for the payment or performance thereof. The Trustees shall use their best efforts to ensure that every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the The Commonwealth of Massachusetts and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer, and not individually individually, and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust Trust, or upon the assets belonging to particular Fund in question, as the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and case may contain such further recital as he or she or they may deem appropriatebe, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or Shareholder individually, or to subject the Fund Assets of any Fund to the obligations of any other person individuallyFund.

Trustees, Shareholders, etc. Not Personally Liable; Notice. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, Class with which such person dealt for payment under such credit, contract or claim; and neither the Shareholders of any Series or Class nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, nor any other Series shall be personally liable therefortherefore. Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust, any Series or Class thereof, or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only by or for the Trust (or the Series or Class) or the Trustees and not personally. Nothing in this Declaration of Trust shall protect any Trustee or officer against any liability to the Trust or the Shareholders to which such Trustee or officer would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer. Every note, bond, contract, instrument, certificate certificate, share or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth of Massachusetts and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust Trust, or upon the assets belonging to the particular Series or attributable to Class in question, as the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and case may contain such further recital as he or she or they may deem appropriatebe, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or any other person Shareholder individually.

Trustees, Shareholders, etc. Not Personally LiableNOT PERSONALLY LIABLE; NoticeNOTICE. ---------------------------------------------------------- All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, with which such person dealt for payment under such credit, contract or claim; and neither the Shareholders of any Series nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, nor any other Series shall be personally liable therefor. Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust, any Series or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only by or for the Trust (or the Series) or the Trustees and not personally. Nothing in this Declaration of Trust shall protect any Trustee or officer against any liability to the Trust or the Shareholders to which such Trustee or officer would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer. Every note, bond, contract, instrument, certificate certificate, share or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the The Commonwealth of Massachusetts and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust Trust, or upon the assets belonging to particular Series in question, as the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and case may contain such further recital as he or she or they may deem appropriatebe, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or any other person Shareholder individually.

Trustees, Shareholders, etc. Not Personally LiableNOT PERSONALLY LIABLE; NoticeNOTICE. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Sub-Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, with which such person dealt for payment under such credit, contract or claim; and neither the Shareholders of any Sub-Trust nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, nor any other Sub-Trust nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, nor any other Sub-Trust shall be personally liable therefor. Nothing Every note, bond, contract, instrument, certificate, or undertaking and every act or thing whatsoever executed or done by or on behalf of the Trust, any Sub-Trust or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only by or for the Trust (or the Sub-Trust) or the Trustees and not personally. The Trustees and the Trust's officers, employees and agents shall not be liable to the Trust or the Shareholders; provided however, that nothing in this Declaration of Trust shall protect any Trustee or officer, employee or agent against any liability to the Trust or the Shareholders to which such Trustee or officer, employee or agent would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer, employee or agent. Every note, bond, contract, instrument, certificate certificate, or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth of Massachusetts and shall recite that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust, or the particular Sub-Trust in question, as the case may be, but the omission thereof shall not operate to bind any Trustees or upon the assets belonging to the Series Trustee or attributable to the class for the benefit of which the Trustees have caused the officers or officer or Shareholders or Shareholder individually or otherwise invalidate any such note, bond, contract, instrument, certificate certificate, or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriate, but the omission of any such recital shall not operate to bind any Trustee or Trustees or officer or officers or Shareholders or any other person individuallyundertaking.

Trustees, Shareholders, etc. Not Personally LiableNOT PERSONALLY LIABLE; NoticeNOTICE. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets The Trustees and officers of the Trust, orin incurring any debts, liabilities or obligations, or in taking or omitting any other actions for or in connection with the Trust, are or shall be deemed to the extent that the liability be acting as Trustees or officers of the Trust may have been expressly limited by contract and not in their own capacities. No Shareholder shall be subject to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, for payment under such creditany personal liability whatsoever in tort, contract or claim; and neither otherwise to any other Person or Persons in connection with the Shareholders nor assets or the Trustees, nor any affairs of the Trust's officersTrust or of any Portfolio, employees and subject to Section 8.4 hereof, no Trustee, officer, employee or agents, whether past, present or future, agent of the Trust shall be personally liable therefor. Nothing subject to any personal liability whatsoever in this Declaration tort, contract, or otherwise, to any other Person or Persons in connection with the assets or affairs of the Trust shall protect or of any Trustee against any liability to which such Trustee would otherwise be subject by reason of Portfolio, save only that arising from his own willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of his office or the office discharge of Trusteehis functions. Every The Trust (or if the matter relates only to a particular Portfolio, that Portfolio) shall be solely liable for any and all debts, claims, demands, judgments, decrees, liabilities or obligations of any and every kind, against or with respect to the Trust or such Portfolio in tort, contract or otherwise in connection with the assets or the affairs of the Trust or such Portfolio, and all Persons dealing with the Trust or any Portfolio shall be deemed to have agreed that resort shall be had solely to the Trust Property of the Trust or the Portfolio Assets of such Portfolio, as the case may be, for the payment or performance thereof. The Trustees shall use their best efforts to ensure that every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the The Commonwealth of Massachusetts and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer, and not individually individually, and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust Trust, or upon the assets belonging to particular Portfolio in question, as the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and case may contain such further recital as he or she or they may deem appropriatebe, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or Shareholder individually, or to subject the Portfolio Assets of any Portfolio to the obligations of any other person individuallyPortfolio.

Trustees, Shareholders, etc. Not Personally Liable; Notice. All persons extending credit to, contracting with or ------------------------------------------------------------- having any claim against the Trust or any Series series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series series or attributable to a particular class, only to the assets belonging to the relevant Series series or attributable to the relevant class, for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, shall be personally liable therefor. Nothing The Board of Trustees shall not be responsible or liable in this Declaration any event for any neglect or wrongdoing of Trust any officer, agent, employee, investment adviser or principal underwriter of the Trust, nor shall any Trustee be responsible for the act or omission of any other Trustee, but nothing herein shall protect any Trustee against any liability to which such Trustee would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, by any officer Trustees or Trustee or by any officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth of Massachusetts and shall recite that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series series or attributable to the class for the benefit of to which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issuedsuch instrument relates, and may contain such further recital as he or she or they may deem appropriate, but the omission of any such recital thereof shall not operate to bind any Trustee or Trustees or officer Trustee or officers or officer, or Shareholders or Shareholder individually. Every note, bond, contract, instrument, certificate, share or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust or the Board of Trustees or any other person individuallyof them in connection with the Trust shall be conclusively deemed to have been executed or done only in or with respect to their or his capacity as Trustees or Trustee, and such Trustees or Trustee shall not be personally liable thereon.

Trustees, Shareholders, etc. Not Personally LiableNOT PERSONALLY LIABLE; NoticeNOTICE. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular classSeries, only to the assets belonging to the relevant Series or attributable to the relevant classSeries, for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, agents whether past, present or future, shall be personally liable therefor. Nothing in this Declaration of Trust shall protect any Trustee against any liability to which such Trustee would otherwise be subject by reason of or willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, by any officers or officer or officers or otherwise shall give may include a notice that this Declaration of Trust is on file with the Secretary of the The Commonwealth of Massachusetts and shall may recite that the same note, bond, contract, instrument, certificate, or undertaking was executed or made by or on behalf of the Trust or by them as Trustee or Trustees or as officers or officer or officers or otherwise and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, instrument certificate or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriate, but the omission of any such recital shall not operate to bind any Trustee or Trustees or officer or officers or Shareholders or any other person individually.

Trustees, Shareholders, etc. Not Personally Liable; Notice. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Sub-Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, with which such person dealt for payment under such credit, contract or claim; and neither the Shareholders of any Sub-Trust nor the Trustees, Trustees nor any of the Trust's officers, employees or agents, whether past, present or future, nor any other Sub-Trust shall be personally liable therefor. Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust, any Sub-Trust or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only by or for the Trust (or the Sub-Trust) or the Trustees and not personally. Nothing in this Declaration of Trust shall protect any Trustee or officer against any liability to the Trust or the Shareholders to which such Trustee or officer would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth of Massachusetts and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust, or the particular Sub-Trust or upon in question, as the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and case may contain such further recital as he or she or they may deem appropriatebe, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or any other person Shareholder individually.

Trustees, Shareholders, etc. Not Personally Liable; Notice. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust's ’s officers, employees or agents, whether past, present or future, shall be personally liable therefor. Nothing in this Declaration of Trust shall protect any Trustee against any liability to which such Trustee would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, by any officer or officers or otherwise shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth of Massachusetts and shall recite that the same was executed or made by or on behalf of the Trust or by them as Trustee or Trustees or as officer or officers or otherwise and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriate, but the omission of any such recital shall not operate to bind any Trustee or Trustees or officer or officers or Shareholders or any other person individually.

Trustees, Shareholders, etc. Not Personally Liable; Notice. Notice All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular classSeries, only to the assets belonging to the relevant Series or attributable to the relevant classSeries, for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, shall be personally liable therefor. Nothing in this Declaration of Trust shall protect any Trustee against any liability to which such Trustee would otherwise be subject by reason of willful or wilful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, by any an officer or officers or otherwise shall give may include a notice that this Declaration of Trust is on file with the Secretary of the Commonwealth of Massachusetts and shall may recite that the same note, bond, contract, instrument, certificate, or undertaking was executed or made by or on behalf of the Trust or by them as Trustee or Trustees or as officer or officers or otherwise and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, contract instrument, certificate or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriate, but the omission of any such recital shall not operate to bind any Trustee or Trustees or officer or officers or Shareholders or any other person individually.

Trustees, Shareholders, etc. Not Personally Liable; Notice. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Sub-Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, with which such person dealt for payment under such credit, contract or claim; and neither the Shareholders of any Sub-Trust nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, nor any other Sub-Trust shall be personally liable therefor. Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust, any Sub-Trust or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only by or for the Trust (or the Sub-Trust) or the Trustees and not personally. Nothing in this Declaration of Trust shall protect any Trustee or officer against any liability to the Trust or the Shareholders to which such Trustee or officer would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth of Massachusetts and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust, or the particular Sub-Trust or upon in question, as the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and case may contain such further recital as he or she or they may deem appropriatebe, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or any other person Shareholder individually.

Trustees, Shareholders, etc. Not Personally LiableNOT PERSONALLY LIABLE; NoticeNOTICE. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular classSeries, only to the assets belonging to the relevant Series or attributable to the relevant classSeries, for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, shall be personally liable therefor. Nothing in this Declaration of Trust shall protect any Trustee against any liability to which such Trustee would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, by any officers or officer or officers or otherwise shall give notice that this Declaration of Trust is on file with the Secretary of the The Commonwealth of Massachusetts and shall recite that the same was executed or made by or on behalf of the Trust or by them as Trustee or Trustees or as officers or officer or officers or otherwise and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriate, but the omission of any such recital shall not operate to bind any Trustee or Trustees or officers or officer or officers or Shareholders or any other person individually.

Trustees, Shareholders, etc. Not Personally LiableNOT PERSONALLY LIABLE; NoticeNOTICE. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, for payment under such credit, contract or claim; , and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, shall be personally liable therefor. Nothing Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only in or with respect to their or his capacity as Trustees or Trustee, and such Trustees or Trustee shall not be personally liable thereon. Notwithstanding the foregoing, nothing in this Declaration of Trust shall protect any Trustee against any liability to which such Trustee would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise shall give notice that this Declaration of Trust is on file with the Secretary of the The Commonwealth of Massachusetts and shall recite that the same was executed or made by or on behalf of the Trust or by them as Trustee or Trustees or as officer or officers or otherwise and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issuedTrust, and may contain such further recital as he or she or they may deem appropriate, but the omission of any such recital thereof shall not operate to bind any Trustee or Trustees or officer or officers or Shareholder or Shareholders or any other person individually.

Trustees, Shareholders, etc. Not Personally Liable; Notice. All persons Persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular classSeries, only to the assets belonging to the relevant Series or attributable to the relevant classSeries, for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, shall be personally liable therefor. Nothing in this Declaration of Trust shall protect any Trustee against any liability to which such Trustee would otherwise be subject by reason of willful wilful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Board of Trustees, by any officers or officer or officers or otherwise shall give may include a notice that this Declaration of Trust is on file with the Secretary of the The Commonwealth of Massachusetts and shall may recite that the same note, bond, contract, instrument, certificate, or undertaking was executed or made by or on behalf of the Trust or by them as Trustee or Trustees or as officers or officer or officers or otherwise and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriate, but the omission of any such recital shall not operate to bind any Trustee or Trustees or officer or officers or Shareholders or any other person individually.

Trustees, Shareholders, etc. Not Personally Liable; Notice. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, Class with which such person dealt for payment under such credit, contract or claim; and neither the Shareholders of any Series or Class nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, nor any other Series shall be personally liable therefor. Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust, and Series or Class or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only by or for the Trust (or the Series or Class) or the Trustees and not personally. Nothing in this Declaration of Trust shall protect any Trustee or officer against any liability to the Trust or the Shareholders to which such Trustee or officer would otherwise be subject by reason of willful wilful misfeasance, bad faith, gross negligence negligence, or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth of Massachusetts and shall recite that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust Trust, or upon the assets belonging to the particular Series or attributable to Class in question, as the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and case may contain such further recital as he or she or they may deem appropriatebe, but the omission of any such recital thereof shall not operate to bind any Trustee or Trustees or officer Trustee or officers or officer of Shareholders or any other person Shareholder individually.

Trustees, Shareholders, etc. Not Personally Liable; Notice. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets The Trustees and officers of the Trust, orin incurring any debts, liabilities or obligations, or in limiting or omitting any other actions for or in connection with the Trust, are or shall be deemed to the extent that the liability be acting as Trustees or officers of the Trust may have been expressly limited by contract and not in their own capacities. No Shareholder shall be subject to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, for payment under such creditany personal liability whatsoever in tort, contract or claim; and neither otherwise to any other Person or Persons in connection with the Shareholders nor assets or the Trustees, nor any affairs of the Trust's officersTrust or of any Fund, employees and subject to Section 8.4 hereof, no Trustee, officer, employee or agents, whether past, present or future, agent of the Trust shall be personally liable therefor. Nothing subject to any personal liability whatsoever in this Declaration tort, contract, or otherwise, to any other Person or Persons in connection with the assets or affairs of the Trust shall protect or of any Trustee against any liability to which such Trustee would otherwise be subject by reason of Fund, save only that arising from his own willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of his office or the office discharge of Trusteehis functions. Every The Trust (or if the matter relates only to a particular Fund, that Fund) shall be solely liable for any and all debts, claims, demands, judgments, decrees, liabilities or obligations of any and every kind, against or with respect to the Trust or such Fund in tort, contract or otherwise in connection with the assets or the affairs of the Trust or such Fund, and all Persons dealing with the Trust or any Fund shall be deemed to have agreed that resort shall be had solely to the Trust Property of the Trust or the Fund Assets of such Fund, as the case may be, for the payment or performance thereof. The Trustees shall use their best efforts to ensure that every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the The Commonwealth of Massachusetts and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer, and not individually individually, and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust Trust, or upon the assets belonging to particular Fund in question, as the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and case may contain such further recital as he or she or they may deem appropriatebe, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or Shareholder individually, or to subject the Fund Assets of any Fund to the obligations of any other person individuallyFund.

Trustees, Shareholders, etc. Not Personally Liable; Notice. -------------------------------------------------------------------------- All persons extending credit to, contracting with or having any claim against any Series of the Trust (or the Trust on behalf of any Series or class Series) shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, shall be personally liable therefor. Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only by or for the Trust or the Trustees and not personally. Nothing in this Declaration of Trust shall protect any Trustee or officer against any liability to the Trust or the Shareholders to which such Trustee or officer would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth State of Massachusetts Ohio and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriateTrust, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or any other person Shareholder individually.

Trustees, Shareholders, etc. Not Personally Liable; Notice. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, for payment under such credit, contract or claim; : and neither the Shareholders nor the Trustees, nor any of the Trust's ’s officers, employees or agents, whether past, present or future, shall be personally liable therefor. Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only by or for the Trust or the Trustees and not personally. Nothing in this Declaration of Trust shall protect any Trustee or officer against any liability to the Trust or the Shareholders to which such Trustee or officer would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall be construed to give notice that this Declaration of Trust is on file with the Secretary of State of the Commonwealth of Massachusetts Kentucky and shall may recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriateTrust, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or any other person Shareholder individually.

Trustees, Shareholders, etc. Not Personally Liable; Notice. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Sub-Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, with which such person dealt for payment under such credit, contract or claim; and neither the Shareholders of any Sub-trust nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, nor any other Sub-Trust shall be personally liable therefor. Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust, any Sub-Trust or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only by or for the Trust (or the Sub-Trust) or the Trustees and not personally. Nothing in this Declaration of Trust shall protect any Trustee or officer against any liability to the Trust or the Shareholders to which such Trustee or officer would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the The Commonwealth of Massachusetts and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust, or the particular Sub-Trust or upon in question, as the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and case may contain such further recital as he or she or they may deem appropriatebe, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or any other person Shareholder individually.

Trustees, Shareholders, etc. Not Personally Liable; Notice. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets The Trustees and officers of the Trust, orin incurring any debts, liabilities or obligations, or in limiting or omitting any other actions for or in connection with the Trust, are or shall be deemed to the extent that the liability be acting as Trustees or officers of the Trust may have been expressly limited by contract and not in their own capacities. No Shareholder shall be subject to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, for payment under such creditany personal liability whatsoever in tort, contract or claim; and neither otherwise to any other Person or Persons in connection with the Shareholders nor assets or the Trustees, nor any affairs of the Trust's officersTrust or of any Portfolio, employees and subject to Section 8.4 hereof, no Trustee, officer, employee or agents, whether past, present or future, agent of the Trust shall be personally liable therefor. Nothing subject to any personal liability whatsoever in this Declaration tort, contract, or otherwise, to any other Person or Persons in connection with the assets or affairs of the Trust shall protect or of any Trustee against any liability to which such Trustee would otherwise be subject by reason of Portfolio, save only that arising from his own willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of his office or the office discharge of Trusteehis functions. Every The Trust (or if the matter relates only to a particular Portfolio, that Portfolio) shall be solely liable for any and all debts, claims, demands, judgments, decrees, liabilities or obligations of any and every kind, against or with respect to the Trust or such Portfolio in tort, contract or otherwise in connection with the assets or the affairs of the Trust or such Portfolio, and all Persons dealing with the Trust or any Portfolio shall be deemed to have agreed that resort shall be had solely to the Trust Property of the Trust or the Portfolio Assets of such Portfolio, as the case may be, for the payment or performance thereof. The Trustees shall use their best efforts to ensure that every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the The Commonwealth of Massachusetts and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer, and not individually individually, and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust Trust, or upon the assets belonging to particular Portfolio in question, as the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and case may contain such further recital as he or she or they may deem appropriatebe, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or Shareholder individually, or to subject the Portfolio Assets of any Portfolio to the obligations of any other person individuallyportfolio.

Trustees, Shareholders, etc. Not Personally Liable; --------------------------------------------------- Notice. All persons extending credit to, contracting with or having any claim ------ against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Sub-Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, class thereof with which such person dealt for payment under such credit, contract or claim; and neither the Shareholders of any Sub-Trust nor the Trustees, Trustees nor any of the Trust's officers, employees or agents, whether past, present or future, nor any other Sub-Trust shall be personally liable therefor. Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust, any Sub-Trust or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only by or for the Trust (or the Sub-Trust) or the Trustees and not personally. Nothing in this Declaration of Trust shall protect any Trustee or officer against any liability to the Trust or the Shareholders to which such Trustee or officer would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth of Massachusetts and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series Trust, or attributable to the particular Sub- Trust or class for in question, as the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and case may contain such further recital as he or she or they may deem appropriatebe, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or any other person Shareholder individually.

Trustees, Shareholders, etc. Not Personally LiableNOT PERSONALLY LIABLE; NoticeNOTICE SECTION 1. All persons extending credit to, contracting with or having any claim against the Trust or any Series a particular series or class of Shares shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to or the assets of a that particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, series of Shares for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, shall be personally liable therefor. Nothing in this Declaration of Trust shall protect any Trustee against any liability to which such Trustee would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth of Massachusetts and shall recite that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issuedTrust, and may contain such further recital as he or she or they may deem appropriate, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or Shareholder individually. TRUSTEES' GOOD FAITH ACTION, EXPERT ADVICE; NO BOND OR SURETY SECTION 2. The exercise by the Trustees of their powers and discretion hereunder shall be binding upon everyone interested. A Trustee shall be liable for his or her own willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee, and for nothing else, and shall not be liable for errors of judgment or mistakes of fact or law. The Trustees may take advice of counsel or other experts with respect to the meaning and operation of this Declaration of Trust, and shall be under no liability for any other person individuallyact or omission in accordance with such advice or for failing to follow such advice. The Trustees shall not be required to give any bond as such, nor any surety if a bond is required.

Trustees, Shareholders, etc. Not Personally LiableNOT PERSONALLY LIABLE; NoticeNOTICE. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Sub-Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, with which such person dealt for payment under such credit, contract or claim; and neither the Shareholders of any Sub-Trust nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, nor any other Sub-Trust shall be personally liable therefor. Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust, any Sub-Trust or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only by or for the Trust (or the Sub-Trust) or the Trustees and not personally. Nothing in this Declaration of Trust shall protect any Trustee or officer against any liability to the Trust or the Shareholders to which such Trustee or officer would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth of Massachusetts and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust, or the particular Sub-Trust or upon in question, as the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and case may contain such further recital as he or she or they may deem appropriatebe, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or any other person Shareholder individually.

Trustees, Shareholders, etc. Not Personally LiableNOT PERSONALLY LIABLE; NoticeNOTICE. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, shall be personally liable therefor. Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only by or for the Trust or the Trustees and not personally. Nothing in this Declaration of Trust shall protect any Trustee or officer against any liability to the Trust or the Shareholders to which such Trustee or officer would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth of Massachusetts and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriateTrust, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or any other person Shareholder individually.

Trustees, Shareholders, etc. Not Personally LiableNOT PERSONALLY LIABLE; NoticeNOTICE. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class Class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series (or attributable the assets allocable to a particular classClass), only to the assets belonging to the relevant Series (or attributable allocable to the relevant classClass), for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, shall be personally liable therefor. Nothing in this Declaration of Trust shall protect any Trustee against any liability to which such Trustee would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, by any officers or officer or officers or otherwise shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth of Massachusetts and shall recite that the same was executed or made by or on behalf of the Trust or by them as Trustee or Trustees or as officers or officer or officers or otherwise and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series (or attributable allocable to the class Class) for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriate, but the omission of any such recital shall not operate to bind any Trustee or Trustees or officers or officer or officers or Shareholders or any other person individually.

Trustees, Shareholders, etc. Not Personally LiableNOT PERSONALLY LIABLE; Notice. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, shall be personally liable therefor. Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust or the Trustees or any of them in connection with the Trust or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only by or for the Trust or the Trustees and not personally. Nothing in this Declaration of Trust shall protect any Trustee or officer against any liability to the Trust or the Shareholders to which such Trustee or officer would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the The Commonwealth of Massachusetts and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriateTrust, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or any other person Shareholder individually.

Trustees, Shareholders, etc. Not Personally Liable; Notice. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, with which such person dealt for payment under such credit, contract or claim; and neither the Shareholders of any Series nor the Trustees, nor any of the Trust's officers, employees employees, members of the Advisory Board or agents, whether past, present or future, nor any other Series shall be personally liable therefor. Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust, any Series or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only by or for the Trust (or the Series) or the Trustees and not personally. Nothing in this Declaration of Trust shall protect any Trustee Trustee, Advisory Board member or officer against any liability to the Trust or the Shareholders to which such Trustee or officer would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth of Massachusetts and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust Trust, or upon the assets belonging to particular Series in question, as the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and case may contain such further recital as he or she or they may deem appropriatebe, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or any other person Shareholder individually.

Trustees, Shareholders, etc. Not Personally Liable; Notice. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular classSeries, only to the assets belonging to the relevant Series or attributable to the relevant classSeries, for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, shall be personally liable therefor. Nothing in this Declaration of Trust shall protect any Trustee against any liability to which such Trustee would otherwise be subject by reason of willful wilful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, by any officers or officer or officers or otherwise shall give notice that this Declaration of Trust is on file with the Secretary of the The Commonwealth of Massachusetts and shall recite that the same was executed or made by or on behalf of the Trust or by them as Trustee or Trustees or as officers or officer or officers or otherwise and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriate, but the omission of any such recital shall not operate to bind any Trustee or Trustees or officers or officer or officers or Shareholders or any other person individually.

Trustees, Shareholders, etc. Not Personally LiableNOT PERSONALLY LIABLE; NoticeNOTICE. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, shall be personally liable therefor. Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only by or for the Trust or the Trustees and not personally. Nothing in this Declaration of Trust shall protect any Trustee or officer against any liability to the Trust or the Shareholders to which such Trustee or officer would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the The Commonwealth of Massachusetts and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriateTrust, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or any other person Shareholder individually.

Trustees, Shareholders, etc. Not Personally LiableNOT PERSONALLY LIABLE; NoticeNOTICE. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class Class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular classClass, only to the assets belonging to the relevant Series or attributable to the relevant classClass, for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, shall be personally liable therefor. Nothing in this Declaration of Trust shall protect any Trustee against any liability to which such Trustee would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, by any officer or officers or otherwise shall give notice that this Declaration of Trust is on file with the Secretary of the The Commonwealth of Massachusetts and shall recite that the same was executed or made by or on behalf of the Trust or by them as Trustee or Trustees or as officer or officers or otherwise and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually individually, but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series or attributable to the class Class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriate, but the omission of any such recital shall not operate to bind any Trustee or Trustees or officer or officers or Shareholders or any other person individually.

Trustees, Shareholders, etc. Not Personally LiableNOT PERSONALLY LIABLE; NoticeNOTICE SECTION 1. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class a particular series of shares shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to or the assets of a that particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, series of Shares for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, shall be personally liable therefor. Nothing in this Declaration of Trust shall protect any Trustee against any liability to which such Trustee would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth of Massachusetts and shall recite that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issuedTrust, and may contain such further recital as he or she or they may deem appropriate, but the omission of any such recital thereof shall not operate to bind any Trustee or Trustees or officer Trustee or officers or officer of Shareholders or Shareholder individually. TRUSTEES' GOOD FAITH ACTION, EXPERT ADVICE; NO BOND OR SURETY SECTION 2. The exercise by the Trustees of their powers and discretions hereunder shall be binding upon everyone interested. A Trustee shall be liable for his or her own willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee, and for nothing else, and shall not be liable for errors of judgment or mistakes of fact or law. The Trustees may take advice of counsel or other experts with respect to the meaning and operation of this Declaration of Trust, and shall be under no liability for any other person individuallyact or omission in accordance with such advice or for failing to follow such advice. The Trustees shall not be required to give any bond as such, nor any surety if a bond is required.

Trustees, Shareholders, etc. Not Personally LiableNOT PERSONALLY LIABLE; NoticeNOTICE. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the TrustSeries of Shares with respect to which such persons extended credit or contracted, or, or with respect to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, which such claim arose for payment under such credit, contract or claim; and neither the Shareholders of any Series of Shares nor the Trustees, Trustees nor any of the Trust's officers, employees or agents, whether past, present or future, nor any other Series of Shares shall be personally liable therefortherefore. Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust, any Series of Shares or the Trustees or any of them shall be conclusively deemed to have been executed or done only by or for the Trust (or the Series of Shares) or the Trustees and not personally. Nothing in this Declaration of Trust shall protect any Trustee or officer against any liability to the Trust or the Shareholders to which such Trustee or officer would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth State of Massachusetts Delaware and shall recite that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Trust, or the particular Series or attributable to of Shares in question, as the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and case may contain such further recital as he or she or they may deem appropriatebe, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or any other person Shareholder individually.

Trustees, Shareholders, etc. Not Personally Liable; Notice. All persons Persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular classSeries, only to the assets belonging to the relevant Series or attributable to the relevant classSeries, for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, shall be personally liable therefor. Nothing in this Declaration of Trust shall protect any Trustee against any liability to which such Trustee would otherwise be subject by reason of willful wilful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Board of Trustees, by any officers or officer or officers or otherwise shall give may include a notice that this Declaration of Trust is on file with the Secretary of the The Commonwealth of Massachusetts and shall may recite that the same note, bond, contract, instrument, certificate, or undertaking was executed or made by or on behalf of the Trust or by them as Trustee or Trustees or as officers or officer or officers or otherwise and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriate, but the omission of or any such recital shall not operate to bind any Trustee or Trustees or officer or officers or Shareholders or any other person individually.

Trustees, Shareholders, etc. Not Personally Liable; Notice. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Sub-Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, with which such person dealt for payment under such credit, contract or claim; and neither the Shareholders of any. Sub-Trust nor the Trustees, Trustees nor any of the Trust's officers, employees or agents, whether past, present or future, nor any other Sub-Trust shall be personally liable therefor. Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust, any Sub-Trust or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only by or for the Trust (or the Sub-Trust) or the Trustees and not personally. Nothing in this Declaration of Trust shall protect any Trustee or officer against any liability to the Trust or the Shareholders to which such Trustee or officer would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth of Massachusetts and shall recite to the effect that the same was wits executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust, or the particular Sub-Trust or upon in question, as the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and case may contain such further recital as he or she or they may deem appropriatebe, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or any other person Shareholder individually.

Trustees, Shareholders, etc. Not Personally Liable; Notice. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or futurefurture, shall be personally liable therefor. Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only by or for the Trust or the Trustees and not personally. Nothing in this Declaration of Trust shall protect any Trustee or officer against any liability to the Trust or the Shareholders to which such Trustee or officer would otherwise be subject by reason of willful wilful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the The Commonwealth of Massachusetts and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriateTrust, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or any other person Shareholder individually.

Trustees, Shareholders, etc. Not Personally Liable; Notice. All --------- ---------------------------------------------------------- As provided by 15 Pa.C.S. ss. 9506(a) (relating to liability of trustees and beneficiaries), all persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular classSeries, only to the assets belonging to the relevant Series or attributable to the relevant classSeries, for payment under such credit, contract or claim; claim and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, shall be personally liable therefor. Nothing in this Declaration of Trust shall protect any Trustee against any liability to which such Trustee would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, by any officers or officer or officers or otherwise shall give notice that this Declaration of Trust is on file with the Secretary Department of State of the Commonwealth of Massachusetts Pennsylvania and shall recite that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees as officers or as officer or officers or otherwise and not individually individually, and that the obligations of such instrument or instruments are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the relevant Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and may contain such further recital as he or he, she or they may deem appropriate, but the omission of any such recital shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers Shareholders or Shareholders Shareholder or any other person individually.

Trustees, Shareholders, etc. Not Personally LiableNOT PERSONALLY LIABLE; NoticeNOTICE. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, with which such person dealt for payment under such credit, contract or claim; and neither the Shareholders of any Series nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, nor any other Series shall be personally liable therefor. Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only by or for the Trust or the Trustees and not personally. Nothing in this Declaration of Trust shall protect any Trustee or officer against any liability to the Trust or the Shareholders to which such Trustee or officer would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth of Massachusetts and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriateTrust, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or any other person Shareholder individually.

Trustees, Shareholders, etc. Not Personally Liable; Notice. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, shall be personally liable therefor. Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only by or for the Trust or the Trustees and not personally. Nothing in this Declaration of Trust shall protect any Trustee or officer against any liability to the Trust or the Shareholders to which such Trustee or officer would otherwise be subject by reason of willful wilful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the The Commonwealth of Massachusetts and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriateTrust, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or any other person Shareholder individually.

Trustees, Shareholders, etc. Not Personally LiableNOT PERSONALLY LIABLE; NoticeNOTICE. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, Portfolio with which such person dealt for payment under such credit, contract or claim; and neither the Shareholders of any Portfolio nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, nor any other Portfolio shall be personally liable therefor. Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust, any Portfolio or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only by or for the Trust (or the Portfolio) or the Trustees and not personally. Nothing in this Declaration of Trust shall protect any Trustee or officer against any liability to the Trust or the Shareholders to which such Trustee or officer would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer. Every note, bond, contract, instrument, certificate certificate, share or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the The Commonwealth of Massachusetts and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust Trust, or upon the assets belonging to particular Portfolio in question, as the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and case may contain such further recital as he or she or they may deem appropriatebe, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or any other person Shareholder individually.

Trustees, Shareholders, etc. Not Personally LiableNOT PERSONALLY LIABLE; NoticeNOTICE. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust's officersTrust'sofficers, employees or agents, whether past, present or future, shall be personally liable therefor. Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only by or for the Trust or the Trustees and not personally. Nothing in this Declaration of Trust shall protect any Trustee or officer against any liability to the Trust or the Shareholders to which such Trustee or officer would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth State of Massachusetts Ohio and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriateTrust, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or any other person Shareholder individually.

Trustees, Shareholders, etc. Not Personally Liable; Notice. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Sub-Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, with which such person dealt for payment under such credit, contract or claim; and neither the Shareholders of any Sub-Trust nor the Trustees, Trustees nor any of the Trust's officers, employees or agents, whether past, present or future, nor any other Sub-Trust shall be personally liable therefor. Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust, any Sub-Trust or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only by or for the Trust (or the Sub-Trust) or the Trustees and not personally. Nothing in this Declaration of Trust shall protect any Trustee or officer against any liability to the Trust or the Shareholders to which such Trustee or officer would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth of Massachusetts and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding only upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust, or the particular Sub-Trust or upon in question, as the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and case may contain such further recital as he or she or they may deem appropriatebe, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or any other person Shareholder individually.

Trustees, Shareholders, etc. Not Personally LiableNOT PERSONALLY LIABLE; NoticeNOTICE. All persons Persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular classSeries, only to the assets belonging to the relevant Series or attributable to the relevant classSeries, for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, shall be personally liable therefor. Nothing in this Declaration of Trust shall protect any Trustee against any liability to which such Trustee would otherwise be subject by reason of willful wilful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Board of Trustees, by any officers or officer or officers or otherwise shall give may include a notice that this Declaration of Trust is on file with the Secretary of the The Commonwealth of Massachusetts and shall may recite that the same note, bond, contract, instrument, certificate, or undertaking was executed or made by or on behalf of the Trust or by them as Trustee or Trustees or as officers or officer or officers or otherwise and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriate, but the omission of any such recital shall not operate to bind any Trustee or Trustees or officer or officers or Shareholders or any other person individually.

Trustees, Shareholders, etc. Not Personally Liable; Notice. No Trustee, officer, employee or agent of the Trust shall be subject to any personal liability whatsoever to any person in connection with Trust property or the affairs of the Trust; and all persons shall look solely to the Trust property for satisfaction of claims of any nature arising in connection with the affairs of the Trust. No Shareholder or former Shareholder shall be subject to any personal liability whatsoever to any person in connection with Trust property or the acts, obligations or affairs of the Trust solely by reason of being or having been a Shareholder. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, shall be personally liable therefor. Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only by or for the Trust or the Trustees and not personally. Nothing in this Declaration of Trust shall protect any Trustee or officer against any liability to the Trust or the Shareholders to which such Trustee or officer would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer. Every written note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth State of Massachusetts Delaware and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriateTrust, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or any other person Shareholder individually.

Trustees, Shareholders, etc. Not Personally Liable; Notice. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust's ’s officers, employees or agents, whether past, present or future, shall be personally liable therefor. Nothing in this Declaration of Trust shall protect any Trustee against any liability to which such Trustee would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, by any officer or officers or otherwise shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth of Massachusetts and shall recite that the same was executed or made by or on behalf of the Trust or by them as Trustee or Trustees or as officer or officers or otherwise and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriate, but the omission of any such recital shall not operate to bind any Trustee or Trustees or officer or officers or Shareholders or any other person individually.

Trustees, Shareholders, etc. Not Personally Liable; Notice. ---------------------------------------------------------- All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, with which such person dealt for payment under such credit, contract or claim; and neither the Shareholders of any Series nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, nor any other Series shall be personally liable therefor. Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only by or for the Trust or the Trustees and not personally. Nothing in this Declaration of Trust shall protect any Trustee or officer against any liability to the Trust or the Shareholders to which such Trustee or officer would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth of Massachusetts and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriateTrust, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or any other person Shareholder individually.

Trustees, Shareholders, etc. Not Personally LiableNOT PERSONALLY LIABLE; NoticeNOTICE. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular classSeries, only to the assets belonging to the relevant Series or attributable to the relevant classSeries, for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, shall be personally liable therefor. Nothing in this Declaration of Trust shall protect any Trustee against any liability to which such Trustee would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, by any officers or officer or officers or otherwise shall give notice that this Declaration of Trust is on file with the Secretary of the The Commonwealth of Massachusetts and shall recite that the same was executed or made by or on behalf of the Trust or by them as Trustee or Trustees or as officer or officers or otherwise and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually individually, but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriate, but the omission of any such recital shall not operate to bind any Trustee or Trustees or officer or officers or Shareholders or any other person individually.

Trustees, Shareholders, etc. Not Personally LiableNOT PERSONALLY LIABLE; NoticeNOTICE SECTION 1. All persons extending credit to, contracting with or having any claim against the Trust or any Series a particular series or class of Shares thereof shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a that particular Series series the assets or attributable to a that particular class, only to as the assets belonging to the relevant Series or attributable to the relevant class, case may be for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, shall be personally liable therefor. Nothing in this Declaration of Trust shall protect any Trustee against any liability to which such Trustee would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth of Massachusetts and shall recite that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust Trust, or upon the assets belonging to the relevant Series or attributable to the relevant class of Shares for the benefit of which the Trustees have caused the note, bondland, contractcontent, instrument, certificate or undertaking to be made issued or issuedmade, and may contain such further recital as he or he, she or they may deem appropriate, but the omission of any such recital shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers Shareholders or Shareholders Shareholder or any other person individually.. TRUSTEES' GOOD FAITH ACTION, EXPERT ADVICE; NO BOND OR SURETY SECTION 2. The exercise by the Trustees of their powers and discretion hereunder shall be binding upon everyone interested. A Trustee shall be liable for his or her own willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee, and for nothing else, and shall not be liable for errors of judgment or mistakes of fact

Trustees, Shareholders, etc. Not Personally LiableNOT PERSONALLY LIABLE; NoticeNOTICE. All persons extending credit to, contracting with or having any claim against the Trust or any Series a particular series or class of shares shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to or the assets of a that particular Series series or attributable to a that particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, class of shares for payment under such credit, contract or claim; and neither the Shareholders shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, shall be personally liable therefor. Nothing The Board of Trustees shall not be responsible or liable in this Declaration any event for any neglect or wrongdoing of Trust any officer, agent, employee, investment adviser or principal underwriter of the Trust, nor shall any Trustee be responsible for the act or omission of any other Trustee, but nothing herein shall protect any Trustee against any liability to which such Trustee would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, by any officer Trustees or Trustee or by any officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth of Massachusetts and shall recite that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders shareholders individually but are binding only upon the assets and property of the Trust Trust, or upon of the assets belonging particular series of shares to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issuedsuch instrument relates, and may contain such further recital as he or she or they may deem appropriate, but the omission of any such recital thereof shall not operate to bind any Trustee or Trustees or officer Trustee or officers or Shareholders officer, or shareholders or shareholder individually. Every note, bond, contract, instrument, certificate, share or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust or the Board of Trustees or any other person individuallyof them in connection with the Trust shall be conclusively deemed to have been executed or done only in or with respect to their or his capacity as Trustees or Trustee, and such Trustees or Trustee shall not be personally liable thereon.

Trustees, Shareholders, etc. Not Personally Liable; Notice. ---------------------------------------------------------- All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, Portfolio with which such person dealt for payment under such credit, contract or claim; and neither the Shareholders of any Portfolio nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, nor any other Portfolio shall be personally liable therefor. Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust, any Portfolio or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only by or for the Trust (or the Portfolio) or the Trustees and not personally. Nothing in this Declaration of Trust shall protect any Trustee or officer against any liability to the Trust or the Shareholders to which such Trustee or officer would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer. Every note, bond, contract, instrument, certificate certificate, share or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the The Commonwealth of Massachusetts and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust Trust, or upon the assets belonging to particular Portfolio in question, as the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and case may contain such further recital as he or she or they may deem appropriatebe, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or any other person Shareholder individually.

Trustees, Shareholders, etc. Not Personally Liable; Notice. ---------------------------------------------------------- All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Sub-Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, class thereof with which such person dealt for payment under such credit, contract or claim; and neither the Shareholders of any Sub-Trust nor the Trustees, Trustees nor any of the Trust's officers, employees or agents, whether past, present or future, nor any other Sub-Trust shall be personally liable therefor. Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust, any Sub-Trust or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only by or for the Trust (or the Sub-Trust) or the Trustees and not personally. Nothing in this Declaration of Trust shall protect any Trustee or officer against any liability to the Trust or the Shareholders to which such Trustee or officer would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth of Massachusetts and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series Trust, or attributable to the particular Sub- Trust or class for in question, as the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and case may contain such further recital as he or she or they may deem appropriatebe, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or any other person Shareholder individually.

Trustees, Shareholders, etc. Not Personally Liable; Notice. All persons extending credit to, contracting with or having any claim against any Series of the Trust (or the Trust on behalf of any Series or class Series) shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, shall be personally liable therefor. Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only by or for the Trust or the Trustees and not personally. Nothing in this Declaration of Trust shall protect any Trustee or officer against any liability to the Trust or the Shareholders to which such Trustee or officer would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth of Massachusetts and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriateTrust, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or any other person Shareholder individually.

Trustees, Shareholders, etc. Not Personally LiableNOT PERSONALLY LIABLE; NoticeNOTICE. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Sub-Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, with which such person dealt for payment under such credit, contract or claim; and neither the Shareholders of any Sub-Trust nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, nor any other Sub-Trust nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, nor any other Sub-Trust shall be personally liable therefor. Nothing Every note, bond, contract, instrument, certificate, or undertaking and every act or thing whatsoever executed or done by or on behalf of the Trust, any Sub-Trust or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only by or for the Trust (or the Sub-Trust) or the Trustees and not personally. The Trustees and the Trust's officers, employees and agents shall not be liable to the Trust or the Shareholders; provided however, that nothing in this Amended Declaration of Trust shall protect any Trustee or officer, employee or agent against any liability to the Trust or the Shareholders to which such Trustee or officer, employee or agent would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer, employee or agent. Every note, bond, contract, instrument, certificate certificate, or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth of Massachusetts and shall recite that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust, or the particular Sub-Trust in question, as the case may be, but the omission thereof shall not operate to bind any Trustees or upon the assets belonging to the Series Trustee or attributable to the class for the benefit of which the Trustees have caused the officers or officer or Shareholders or Shareholder individually or otherwise invalidate any such note, bond, contract, instrument, certificate certificate, or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriate, but the omission of any such recital shall not operate to bind any Trustee or Trustees or officer or officers or Shareholders or any other person individuallyundertaking.

Trustees, Shareholders, etc. Not Personally LiableNOT PERSONALLY LIABLE; NoticeNOTICE. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Sub-Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, with which such person dealt for payment under such credit, contract or claim; and neither the Shareholders of any Sub-Trust nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, nor any other Sub-Trust shall be personally liable therefor. Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust, any Sub-Trust or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only by or for the Trust (or the Sub-Trust) or the Trustees and not personally. Nothing in this Declaration of Trust shall protect any Trustee or officer against any liability to the Trust or the Shareholders to which such Trustee or officer would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the The Commonwealth of Massachusetts and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust, or the particular Sub-Trust or upon in question, as the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and case may contain such further recital as he or she or they may deem appropriatebe, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or any other person Shareholder individually.

Trustees, Shareholders, etc. Not Personally LiableNOT PERSONALLY LIABLE; NoticeNOTICE. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, shall be personally liable therefor. Nothing in this Declaration of Trust shall protect any Trustee against any liability to which such Trustee would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, by any officers or officer or officers or otherwise shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth of Massachusetts and shall recite that the same was executed or made by or on behalf of the Trust or by them as Trustee or Trustees or as officers or officer or officers or otherwise and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriate, but the omission of any such recital shall not operate to bind any Trustee or Trustees or officers or officer or officers or Shareholders or any other person individually.

Trustees, Shareholders, etc. Not Personally Liable; NoticeNotice . All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Sub-Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, with which such person dealt for payment under such credit, contract or claim; and neither the Shareholders of any Sub-Trust nor the Trustees, Trustees nor any of the Trust's Trusts officers, employees or agents, whether past, present or future, nor any other Sub-Trust shall be personally liable therefor. Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust, any Sub-Trust or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only by or for the Trust (or the Sub-Trust) or the Trustees and not personally. Nothing in this Declaration of Trust shall protect any Trustee or officer against any liability to the Trust or the Shareholders to which such Trustee or officer would otherwise be subject by reason of willful wilful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the The Commonwealth of Massachusetts and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust, or the particular Sub-Trust or upon in question, as the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and case may contain such further recital as he or she or they may deem appropriatebe, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or any other person Shareholder individually.

Trustees, Shareholders, etc. Not Personally Liable; Notice. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets The Trustees and officers of the Trust, orin incurring any debts, liabilities or obligations, or in limiting or omitting any other actions for or in connection with the Trust, are or shall be deemed to the extent that the liability be acting as Trustees or officers of the Trust may have been expressly limited by contract and not in their own capacities. No Shareholder shall be subject to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, for payment under such creditany personal liability whatsoever in tort, contract or claim; and neither otherwise to any other Person or Persons in connection with the Shareholders nor assets or the Trustees, nor any affairs of the Trust's officersTrust or of any Portfolio, employees and subject to Section 8.4 hereof, no Trustee, officer, employee or agents, whether past, present or future, agent of the Trust shall be personally liable therefor. Nothing subject to any personal liability whatsoever in this Declaration tort, contract, or otherwise, to any other Person or Persons in connection with the assets or affairs of the Trust shall protect or of any Trustee against any liability to which such Trustee would otherwise be subject by reason of Portfolio, save only that arising from his own willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of his office or the office discharge of Trusteehis functions. Every The Trust (or if the matter relates only to a particular Portfolio, that Portfolio) shall be solely liable for any and all debts, claims, demands, judgments, decrees, liabilities or obligations of any and every kind, against or with respect to the Trust or such Portfolio in tort, contract or otherwise in connection with the assets or the affairs of the Trust or such portfolio, and all Persons dealing with the Trust or any Portfolio shall be deemed to have agreed that resort shall be had solely to the Trust Property of the Trust or the Portfolio Assets of such Portfolio, as the case may be, for the payment or performance thereof. The Trustees shall use their best efforts to ensure that every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the The Commonwealth of Massachusetts and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer, and not individually individually, and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust Trust, or upon the assets belonging to particular Portfolio in question, as the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and case may contain such further recital as he or she or they may deem appropriatebe, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or Shareholder individually, or to subject the Portfolio Assets of any Portfolio to the obligations of any other person individuallyPortfolio.

Trustees, Shareholders, etc. Not Personally LiableNOT PERSONALLY LIABLE; Notice. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, shall be personally liable therefor. Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only by or for the Trust or the Trustees and not personally. Nothing in this Declaration of Trust shall protect any Trustee or officer against any liability to the Trust or the Shareholders to which such Trustee or officer would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth State of Massachusetts Ohio and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriateTrust, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or any other person Shareholder individually.

Trustees, Shareholders, etc. Not Personally Liable; Notice. ---------- ---------------------------------------------------------- All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, shall be personally liable therefor. Nothing in this Declaration of Trust shall protect any Trustee against any liability to which such Trustee would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, by any officer or officers or otherwise shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth of Massachusetts and shall recite that the same was executed or made by or on behalf of the Trust or by them as Trustee or Trustees or as officer or officers or otherwise and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriate, but the omission of any such recital shall not operate to bind any Trustee or Trustees or officer or officers or Shareholders or any other person individually.

Trustees, Shareholders, etc. Not Personally LiableNOT PERSONALLY LIABLE; NoticeNOTICE. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Sub-Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, with which such person dealt for payment under such credit, contract or claim; and neither the Shareholders of any Sub-Trust nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, nor any other Sub-Trust shall be personally liable therefor. Nothing Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust, any Sub-Trust or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only by or for the Trust (or the Sub-Trust) or the Trustees and not personally. The Trustees and the Trust's officers, employees and agents shall not be liable to the Trust or the Shareholders; provided however, that nothing in this Declaration of Trust shall protect any Trustee or officer, employee or agent against any liability to the Trust or the Shareholders to which such Trustee or officer, employee or agent would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer, employee or agent. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth of Massachusetts and shall recite that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust, or the particular Sub-Trust in question, as the case may be, but the omission thereof shall not operate to bind any Trustees or upon the assets belonging to the Series Trustee or attributable to the class for the benefit of which the Trustees have caused the officers or officer or Shareholders or Shareholder individually or otherwise invalidate any such note, bond, contract, instrument, certificate or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriate, but the omission of any such recital shall not operate to bind any Trustee or Trustees or officer or officers or Shareholders or any other person individuallyundertaking.

Trustees, Shareholders, etc. Not Personally LiableNOT PERSONALLY LIABLE; NoticeNOTICE. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Sub-Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, with which such person dealt for payment under such credit, contract or claim; and neither the Shareholders of any Sub-Trust nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, nor any other Sub-Trust nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, nor any other Sub-Trust shall be personally liable therefor. Nothing Every note, bond, contract, instrument, certificate, or undertaking and every act or thing whatsoever executed or done by or on behalf of the Trust, any Sub-Trust or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only by or for the Trust (or the Sub-Trust) or the Trustees and not personally. The Trustees and the Trust's officers, employees and agents shall not be liable to the Trust or the Shareholders; provided however, that nothing in this Declaration of Trust shall protect any Trustee or officer, employee or agent against any liability to the Trust or the Shareholders to which such Trustee or officer, employee or agent would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer, employee or agent. Every note, bond, contract, instrument, certificate certificate, or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth of Massachusetts and shall recite that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust, or the particular Sub-Trust in question, as the case may be, but the omission thereof shall not operate to bind any Trustees or upon the assets belonging to the Series Trustee or attributable to the class for the benefit of which the Trustees have caused the officers officer or Shareholders or Shareholder individually or otherwise invalidate any such note, bond, contract, instrument, certificate certificate, or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriate, but the omission of any such recital shall not operate to bind any Trustee or Trustees or officer or officers or Shareholders or any other person individuallyundertaking.

Trustees, Shareholders, etc. Not Personally personally Liable; Notice. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Sub-Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, with which such person dealt for payment under such credit, contract or claim; and neither the Shareholders of any Sub-Trust nor the Trustees, Trustees nor any of the Trust's ’s officers, employees or agents, whether past, present or future, nor any other Sub-Trust shall be personally liable therefor. Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust, any Sub-Trust or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only by or for the Trust (or the Sub-Trust) or the Trustees and not personally. Nothing in this Declaration of Trust shall protect any Trustee or officer against any liability to the Trust or the Shareholders to which such Trustee or officer would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth of Massachusetts and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust, or the particular Sub-Trust or upon in question, as the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and case may contain such further recital as he or she or they may deem appropriatebe, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or any other person Shareholder individually.

Trustees, Shareholders, etc. Not Personally LiableNOT PERSONALLY LIABLE; NoticeNOTICE. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, shall be personally liable therefor. Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only by or for the Trust or the Trustees and not personally. Nothing in this Declaration of Trust shall protect any Trustee or officer against any liability to the Trust or the Shareholders to which such Trustee or officer would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth State of Massachusetts Ohio and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriateTrust, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or any other person Shareholder individually.

Trustees, Shareholders, etc. Not Personally Liable; Notice. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, shall be personally liable therefor. Nothing in this Declaration of Trust shall protect any Trustee against any liability to which such Trustee would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, by any officers or officer or officers or otherwise shall give notice that this Declaration of Trust is on file with the Secretary of the The Commonwealth of Massachusetts and shall recite that the same was executed or made by or on behalf of the Trust or by them as Trustee or Trustees or as officers or officer or officers or otherwise and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriate, but the omission of any such recital shall not operate to bind any Trustee or Trustees or officers or officer or officers or Shareholders or any other person individually.

Trustees, Shareholders, etc. Not Personally Liable; Notice. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets The Trustees and officers of the Trust, orin incurring any debts, liabilities or obligations, or in limiting or omitting any other actions for or in connection with the Trust, are or shall be deemed to the extent that the liability be acting as Trustees or officers of the Trust may have been expressly limited by contract and not in their own capacities. No Shareholder shall be subject to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, for payment under such creditany personal liability whatsoever in tort, contract or claimotherwise to any other Person in connection with the assets or affairs of the Trust or of any Fund; and neither the Shareholders nor the Trusteessubject to Section 8.4 hereof, nor any no Trustee, officer, employee or agent of the Trust's officers, employees or agents, whether past, present or future, Trust shall be personally liable therefor. Nothing subject to any personal liability whatsoever in this Declaration tort, contract or otherwise to any other Person in connection with the assets or affairs of the Trust shall protect or of any Trustee against any liability to which such Trustee would otherwise be subject by reason of Fund, unless only that arising from his own willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of his office or the office discharge of Trusteehis functions. Every The Trust (or if the matter relates only to a particular Fund, that Fund) shall be solely liable for any and all debts, claims, demands, judgments, decrees, liabilities or obligations of any and every kind, against or with respect to the Trust or such Fund in tort, contract or otherwise in connection with the assets or affairs of the Trust or of such Fund, and all Persons dealing with the Trust or any Fund shall be deemed to have agreed that resort shall be had solely to the Trust Property or the Fund Assets of such Fund, as the case may be, for the payment or performance thereof. The Trustees shall use their best efforts to ensure that every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise shall give notice that this Declaration of Trust is on file with the Secretary of the The Commonwealth of Massachusetts and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustee or Trustees or as officer or officers or otherwise officers, and not individually individually, and that the obligations of such instrument are not binding upon any of them or the Shareholders individually individually, but are binding only upon the assets and property Trust Property, or the Fund Assets of the Trust or upon particular Fund in questions, as the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and case may contain such further recital as he or she or they may deem appropriatebe, but the omission of any such recital thereof shall not operate to bind any Trustee or Trustees or officer or officers Shareholder individually, or Shareholders or to subject the Fund Assets of any Fund to the obligations of any other person individuallyFund.

Trustees, Shareholders, etc. Not Personally LiableNOT PERSONALLY LIABLE; NoticeNOTICE. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, with which such person dealt for payment under such credit, contract or claim; and neither the Shareholders of any Series nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, nor any other Series shall be personally liable therefor. Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust, any Series or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only by or for the Trust (or the Series) or the Trustees and not personally. Nothing in this Declaration of Trust shall protect any Trustee or officer against any liability to the Trust or the Shareholders to which such Trustee or officer would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth of Massachusetts and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust Trust, or upon the assets belonging to particular Series in question, as the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and case may contain such further recital as he or she or they may deem appropriatebe, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or any other person Shareholder individually.

Trustees, Shareholders, etc. Not Personally Liable; NoticeNOT PERSONALLY LIABLE, NOTICE. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets The Trustees and officers of the Trust, orin incurring any debts, liabilities or obligations, or in taking or omitting any other actions for or in connection with the Trust, are or shall be deemed to the extent that the liability be acting as Trustees or officers of the Trust may have been expressly limited by contract and not in their own capacities. No Shareholder shall be subject to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, for payment under such creditany personal liability whatsoever in tort, contract or claim; and neither otherwise to any other Person or Persons in connection with the Shareholders nor assets or the Trustees, nor any affairs of the Trust's officersTrust or of any Portfolio, employees and subject to SECTION 8.4 hereof, no Trustee, officer, employee or agents, whether past, present or future, agent of the Trust shall be personally liable therefor. Nothing subject to any personal liability whatsoever in this Declaration tort, contract, or otherwise, to any other Person or Persons in connection with the assets or affairs of the Trust shall protect or of any Trustee against any liability to which such Trustee would otherwise be subject by reason of Portfolio, save only that arising from his own willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of his office or the office discharge of Trusteehis functions. Every The Trust (or if the matter relates only to a particular Portfolio, that Portfolio) shall be solely liable for any and all debts,claims, demands, judgments, decrees, liabilities or obligations of any and every kind, against or with respect to the Trust or such Portfolio in tort, contract or otherwise in connection with the assets or the affairs of the Trust or such Portfolio, and all Persons dealing with the Trust or any Portfolio shall be deemed to have agreed that resort shall be had solely to the Trust Property of the Trust or the Portfolio Assets of such Portfolio, as the case may be, for the payment or performance thereof. The Trustees shall use their best efforts to ensure that every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the The Commonwealth of Massachusetts and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer, and not individually individually, and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust Trust, or upon the assets belonging to particular Portfolio in question, as the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and case may contain such further recital as he or she or they may deem appropriatebe, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or Shareholder individually, or to subject the Portfolio Assets of any Portfolio to the obligations of any other person individuallyPortfolio.

Trustees, Shareholders, etc. Not Personally Liable; --------------------------------------------------- Notice. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets The Trustees and officers of the Trust, orin incurring any debts, ------ liabilities or obligations, or in limiting or omitting any other actions for or in connection with the Trust, are or shall be deemed to the extent that the liability be acting as Trustees or officers of the Trust may have been expressly limited by contract and not in their own capacities. No Shareholder shall be subject to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, for payment under such creditany personal liability whatsoever in tort, contract or claim; and neither otherwise to any other Person or Persons in connection with the Shareholders nor assets or the Trustees, nor any affairs of the Trust's officersTrust or of any Portfolio, employees and subject to Section 8.4 hereof, no Trustee, officer, employee or agents, whether past, present or future, agent of the Trust shall be personally liable therefor. Nothing subject to any personal liability whatsoever in this Declaration tort, contract, or otherwise, to any other Person or Persons in connection with the assets or affairs of the Trust shall protect or of any Trustee against any liability to which such Trustee would otherwise be subject by reason of Portfolio, save only that arising from his own willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of his office or the office discharge of Trusteehis functions. Every The Trust (or if the matter relates only to a particular Portfolio, that Portfolio) shall be solely liable for any and all debts, claims, demands, judgments, decrees, liabilities or obligations of any and every kind, against or with respect to the Trust or such Portfolio in tort, contract or otherwise in connection with the assets or the affairs of the Trust or such Portfolio, and all Persons dealing with the Trust or any Portfolio shall be deemed to have agreed that resort shall be had solely to the Trust Property of the Trust or the Portfolio Assets of such Portfolio, as the case may be, for the payment or performance thereof. The Trustees shall use their best efforts to ensure that every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the The Commonwealth of Massachusetts and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer, and not individually individually, and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust Trust, or upon the assets belonging to particular Portfolio in question, as the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and case may contain such further recital as he or she or they may deem appropriatebe, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or Shareholder individually, or to subject the Portfolio Assets of any Portfolio to the obligations of any other person individuallyPortfolio.

Trustees, Shareholders, etc. Not Personally LiableNOT PERSONALLY LIABLE; NoticeNOTICE. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, shall be personally liable therefor. Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only by or for the Trust or the Trustees and not personally. Nothing in this Declaration of Trust shall protect any Trustee or officer against any liability to the Trust or the Shareholders to which such Trustee or officer would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth of Massachusetts Kentucky and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriateTrust, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or any other person Shareholder individually.

Trustees, Shareholders, etc. Not Personally Liable; Notice. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets The Trustees and officers of the Trust, orin incurring any debts, liabilities or obligations, or in limiting or omitting any other actions for or in connection with the Trust, are or shall be deemed to the extent that the liability be acting as Trustees or officers of the Trust may have been expressly limited by contract and not in their own capacities. No Shareholder shall be subject to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, for payment under such creditany personal liability whatsoever in tort, contract or claim; and neither otherwise to any other Person or Persons in connection with the Shareholders nor assets or the Trustees, nor any affairs of the Trust's officersTrust or of any Portfolio, employees and subject to Section 8.4 hereof, no Trustee, officer, employee or agents, whether past, present or future, agent of the Trust shall be personally liable therefor. Nothing subject to any personal liability whatsoever in this Declaration tort, contract, or otherwise, to any other Person or Persons in connection with the assets or affairs of the Trust shall protect or of any Trustee against any liability to which such Trustee would otherwise be subject by reason of Portfolio, save only that arising from his own willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of his office or the office discharge of Trusteehis functions. Every The Trust (or if the matter relates only to a particular Portfolio, that Portfolio) shall be solely liable for any and all debts, claims, demands, judgments, decrees, liabilities or obligations of any and every kind, against or with respect to the Trust or such Portfolio in tort, contract or otherwise in connection with the assets or the affairs of the Trust or such Portfolio, and all Persons dealing with the Trust or any Portfolio shall be deemed to have agreed that resort shall be had solely to the Trust Property of the Trust or the Portfolio Assets of such Portfolio, as the case may be, for the payment or performance thereof. The Trustees shall use their best efforts to ensure that every note, bond, contract, instrument, certificate or 38 undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the The Commonwealth of Massachusetts and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer, and not individually individually, and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust Trust, or upon the assets belonging to particular Portfolio in question, as the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and case may contain such further recital as he or she or they may deem appropriatebe, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or Shareholder individually, or to subject the Portfolio Assets of any Portfolio to the obligations of any other person individuallyPortfolio.

Trustees, Shareholders, etc. Not Personally Liable; Notice. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class Class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series (or attributable the assets allocable to a particular classClass), only to the assets belonging to the relevant Series (or attributable allocable to the relevant classClass), for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust's ’s officers, employees or agents, whether past, present or future, shall be personally liable therefor. Nothing in this Declaration of Trust shall protect any Trustee against any liability to which such Trustee would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, by any officers or officer or officers or otherwise shall give notice that this Declaration of Trust is on file with the Secretary of the The Commonwealth of Massachusetts and shall recite that the same was executed or made by or on behalf of the Trust or by them as Trustee or Trustees or as officers or officer or officers or otherwise and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series (or attributable allocable to the class Class) for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made made, or issued, and may contain such further recital as he or she or they may deem appropriate, but the omission of any such recital shall not operate to bind any Trustee or Trustees or officers or officer or officers or Shareholders or any other person individually.

Trustees, Shareholders, etc. Not Personally Liable; Notice. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, with which such person dealt for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, nor the assets belonging to any other Series shall be personally liable therefor. Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust, any Series or the Trustees or any of them in connection with the Trust or any Series shall be conclusively deemed to have been executed or done only by or for the Trust or such Series or the Trustees and not personally. Nothing in this Declaration of Trust shall protect any Trustee or officer against any liability to the Trust or the Shareholders to which such Trustee or officer would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the The Commonwealth of Massachusetts and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust Trust, or upon the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriatein question, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or any other person Shareholder individually.

Trustees, Shareholders, etc. Not Personally LiableNOT PERSONALLY LIABLE; NoticeNOTICE. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets The Trustees and officers of the Trust, orin incurring any debts, liabilities or obligations, or in limiting or omitting any other actions for or in connection with the Trust, are or shall be deemed to the extent that the liability be acting as Trustees or officers of the Trust may have been expressly limited by contract and not in their own capacities. No Shareholder shall be subject to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, for payment under such creditany personal liability whatsoever in tort, contract or claim; and neither otherwise to any other Person or Persons in connection with the Shareholders nor assets or the Trustees, nor any affairs of the Trust's officersTrust or of any Portfolio, employees and subject to Section 8.4 hereof, no Trustee, officer, employee or agents, whether past, present or future, agent of the Trust shall be personally liable therefor. Nothing subject to any personal liability whatsoever in this Declaration tort, contract, or otherwise, to any other Person or Persons in connection with the assets or affairs of the Trust shall protect or of any Trustee against any liability to which such Trustee would otherwise be subject by reason of Portfolio, save only that arising from his own willful misfeasance, bad faith, gross negligence or reckless disregard of the his duties involved in the conduct of his office or the office discharge of Trusteehis functions. Every The Trust (or if the matter relates only to a particular Portfolio, that Portfolio) shall be solely liable for any and all debts, claims, demands, judgments, decrees, liabilities or obligations of any and every kind against or with respect to the Trust or such Portfolio in tort, contract or otherwise in connection with the assets or the affairs of the Trust or such Portfolio, and all Persons dealing with the Trust or any Portfolio shall be deemed to have agreed that resort shall be had solely to the Trust Property of the Trust or the Portfolio Assets of such Portfolio, as the case may be, for the payment or performance thereof. The Trustees shall use their best efforts to ensure that every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise shall give notice that this Declaration of Trust is on file with the Secretary of the The Commonwealth of Massachusetts and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer, and not individually individually, and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust Trust, or upon the assets belonging to particular Portfolio in question, as the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and case may contain such further recital as he or she or they may deem appropriatebe, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or Shareholder individually, or to subject the Portfolio Assets of any Portfolio to the obligations of any other person individuallyPortfolio.

Trustees, Shareholders, etc. Not Personally Liable; Notice. All persons extending credit to, contracting with or having any claim against the Trust or any Series or class shall look only to the assets of the Trust, or, to the extent that the liability of the Trust may have been expressly limited by contract to the assets of a particular Series or attributable to a particular class, only to the assets belonging to the relevant Series or attributable to the relevant class, for payment under such credit, contract or claim; and neither the Shareholders of the Trust nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, future shall be personally liable therefor. Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only by or for the Trust or the Trustees and not personally. Nothing in this Declaration of Trust shall protect any Trustee or officer against any liability to the Trust or the Shareholders to which such Trustee or officer would otherwise be subject by reason of willful wilful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of TrusteeTrustee or of such officer. Every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust by the Trustees, Trustees or by any officer or officers or otherwise officer shall give notice that this Declaration of Trust is on file with the Secretary of the Commonwealth of Massachusetts and shall recite to the effect that the same was executed or made by or on behalf of the Trust or by them as Trustees or Trustee or Trustees or as officer or officers or otherwise officer and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only upon the assets and property of the Trust or upon the assets belonging to the Series or attributable to the class for the benefit of which the Trustees have caused the note, bond, contract, instrument, certificate or undertaking to be made or issued, and may contain such further recital as he or she or they may deem appropriate, but the omission of any such recital thereof shall not operate to bind any Trustees or Trustee or Trustees officers or officer or officers or Shareholders or any other person Shareholder individually.