Common use of Assets Belonging to Series Clause in Contracts

Assets Belonging to Series. All consideration received by the Trust for the issue or sale of Shares of a particular Series or Class, together with all assets in which such consideration is invested or reinvested, all income, earnings, profits, and proceeds thereof, including any proceeds derived from the sale, exchange or liquidation of such assets, and any funds or payments derived from any reinvestment of such proceeds in whatever form the same may be, shall irrevocably belong to that Series or Class for all purposes, subject only to the rights of creditors of such Series or Class, and shall be so recorded upon the books of account of the Trust. Such consideration, assets, income, earnings, profits and proceeds thereof, including any proceeds derived from the sale, exchange or liquidation of such assets, and any funds or payments derived from any reinvestment of such proceeds, in whatever form the same may be, together with any General Items allocated to that Series or Class as provided in the following sentence, are herein referred to as "assets belonging to" that Series or Class. In the event that there are any assets, incomes, earnings, profits, and proceeds thereof, funds, or payments which are not readily identifiable as belonging to any particular Series or Class (collectively "General Items"), the Trustees shall allocate such General Items to and among any one or more of the Series or Classes established and designated from time to time in such manner and on such basis as they, in their sole discretion, deem fair and equitable; and any General Items so allocated to a particular Series or Class shall belong to that Series or Class. Each such allocation by the Trustees shall be conclusive and binding upon the Shareholders of all Series and Classes for all purposes. No holder of Shares of any particular Series or Class shall have any claim on or right to any assets allocated or belonging to any other Series of Shares or Class. No holder of Shares of any particular Series or Class shall be entitled to participate in a derivative or class action on behalf of any other Series or Class or the Shareholders of any other Series or Class. The Trustees shall have full discretion, to the extent not inconsistent with the 1940 Act, to determine which items shall be treated as income and which items as capital; and each such determination and allocation shall be conclusive and binding upon the Shareholders.

Assets Belonging to Series. All consideration received by the --------------------------- Trust for the issue issuance or sale of Shares of a particular Series or Class, together with all assets in which such consideration is invested or reinvested, all income, earnings, profits, and proceeds thereof, including any proceeds derived from the sale, exchange or liquidation of such assets, and any funds or payments derived from any reinvestment of such proceeds in whatever form the same may be, shall irrevocably belong to that Series or Class for all purposes, subject only to the rights of creditors of such Series or Classcreditors, and shall be so recorded upon the books of account of the Trust. Such consideration, assets, income, earnings, profits and proceeds thereof, including any proceeds derived from the sale, exchange or liquidation of such assets, and any funds or payments derived from any reinvestment of such proceeds, in whatever form the same may be, together with any General Items allocated to that Series or Class as provided in the following sentence, are herein referred to as "assets belonging to" that Series or Class. In the event that there are any assets, incomesincome, earnings, profits, and proceeds thereof, funds, or payments which are not readily identifiable as belonging to any particular Series or Class (collectively "General Items"), the Trustees shall allocate such General Items to and among any one or more of the Series or Classes established and designated from time to time in such manner and on such basis as they, in their sole discretion, deem fair and equitable; and any General Items so allocated to a particular Series or Class shall belong to that Series or Class. Each such allocation by the Trustees shall be conclusive and binding upon the Shareholders of all Series and Classes for all purposes. No holder of Shares of any particular Series or Class shall have any claim on or right to any assets allocated or belonging to any other Series of Shares or Class. No holder of Shares of any particular Series or Class shall be entitled to participate in a derivative or class action on behalf of any other Series or Class or the Shareholders of any other Series or Class. The Trustees shall have full discretion, to the extent not inconsistent with the 1940 Act, to determine which items shall be treated as income and which items as capital; and each such determination and allocation shall be conclusive and binding upon the Shareholders.

Assets Belonging to Series. All consideration received by the Trust for the issue or sale of Shares Beneficial Interests of a particular Series or ClassSeries, together with all assets in which such consideration is invested or reinvested, all income, earnings, profits, and proceeds thereof, including any proceeds derived from the sale, exchange or liquidation of such assets, and any funds or payments derived from any reinvestment of such proceeds in whatever form the same may be, shall be held for the benefit of the Beneficial Owners who have Beneficial Interests in that Series and shall irrevocably belong to that Series or Class for all purposes, subject only to the rights of creditors of such Series or ClassSeries, and shall be so recorded upon the books of account of the TrustTrust and shall be held and accounted for separately by the Administrator from the other assets of the Trust or any other Series. Such consideration, assets, income, earnings, profits profits, and proceeds thereof, including any proceeds derived from the sale, exchange or liquidation of such assets, and any funds or payments derived from any reinvestment of such proceeds, in whatever form the same may be, together with any General Items allocated to that Series or Class as provided in the following sentence, are herein referred to as "“assets belonging to" ” that Series or ClassSeries. In the event that there are any assets, incomesincome, earnings, profits, profits and proceeds thereof, funds, funds or payments which are not readily identifiable as belonging assets held with respect to any particular Series or Class (collectively "“General Items"Assets”), the Trustees Administrator shall allocate such General Items to and Assets to, between or among any one or more of the Series or Classes established and designated from time to time in such manner and on such basis as they, in their sole discretion, deem the Administrator upon written instructions from the Requisite Holders deems fair and equitable; , and any General Items Assets so allocated to a particular Series or Class shall belong thereupon be held with respect to that Series or Classand be deemed assets belonging to such Series. Each such allocation by the Trustees Administrator shall be conclusive and binding upon the Shareholders Beneficial Owners of all Series and Classes for all purposes. Separate and distinct records shall be maintained for each Series and the assets held with respect to each Series shall be held and accounted for separately from the assets held with respect to all other Series and the General Assets of the Trust not allocated to such Series. No holder of Shares of any particular Series or Class shall have any claim on or right to any or interest in the assets allocated or belonging to any other Series of Shares or Class. No holder of Shares of any particular Series or Class shall be entitled to participate in a derivative or class action on behalf of any other Series or Class or the Shareholders of any other Series or Class. The Trustees Series, and no Beneficial Owners shall have full discretion, any right or interest with respect to the extent assets belonging to any Series in which it does not inconsistent with the 1940 Act, to determine which items shall be treated as income and which items as capital; and each such determination and allocation shall be conclusive and binding upon the Shareholdershave a Beneficial Interest.

Assets Belonging to Series. All consideration received by the Trust for the issue issuance or sale of Shares of a -------------------------- particular Series or Class, together with all assets in which such consideration is invested or reinvested, all income, earnings, profits, and proceeds thereof, including any proceeds derived from the sale, exchange or liquidation of such assets, and any funds or payments derived from any reinvestment of such proceeds in whatever form the same may be, shall irrevocably belong to that Series or Class for all purposes, subject only to the rights of creditors of such Series or Classcreditors, and shall be so recorded upon the books of account of the Trust. Such consideration, assets, income, earnings, profits and proceeds thereof, including any proceeds derived from the sale, exchange or liquidation of such assets, and any funds or payments derived from any reinvestment of such proceeds, in whatever form the same may be, together with any General Items allocated to that Series or Class as provided in the following sentence, are herein referred to as "assets belonging to" that Series or Class. In the event that there are any assets, incomesincome, earnings, profits, and proceeds thereof, funds, or payments which are not readily identifiable as belonging to any particular Series or Class (collectively "General Items"), the Trustees shall allocate such General Items to and among any one or more of the Series or Classes established and designated from time to time in such manner and on such basis as they, in their sole discretion, deem fair and equitable; and any General Items so allocated to a particular Series or Class shall belong to that Series or Class. Each such allocation by the Trustees shall be conclusive and binding upon the Shareholders of all Series and Classes for all purposes. No holder of Shares of any particular Series or Class shall have any claim on or right to any assets allocated or belonging to any other Series of Shares or Class. No holder of Shares of any particular Series or Class shall be entitled to participate in a derivative or class action on behalf of any other Series or Class or the Shareholders of any other Series or Class. The Trustees shall have full discretion, to the extent not inconsistent with the 1940 Act, to determine which items shall be treated as income and which items as capital; and each such determination and allocation shall be conclusive and binding upon the Shareholders.

Assets Belonging to Series. All consideration received by the Trust for the issue or sale of Shares Beneficial Interests of a particular Series or ClassSeries, together with all assets in which such consideration is invested or reinvested, all income, earnings, profits, and proceeds thereof, including any proceeds derived from the sale, exchange or liquidation of such assets, and any funds or payments derived from any reinvestment of such proceeds in whatever form the same may be, shall be held for the benefit of the Beneficial Owners who have Beneficial Interests in that Series and shall irrevocably belong to that Series or Class for all purposes, subject only to the rights of creditors of such Series or ClassSeries, and shall be so recorded upon the books of account of the TrustTrust and shall be held and accounted for separately by the Administrator from the other assets of the Trust or any other Series. Such consideration, assets, income, earnings, profits profits, and proceeds thereof, including any proceeds derived from the sale, exchange or liquidation of such assets, and any funds or payments derived from any reinvestment of such proceeds, in whatever form the same may be, together with any General Items allocated to that Series or Class as provided in the following sentence, are herein referred to as "assets belonging to" that Series or ClassSeries. In the event that there are any assets, incomesincome, earnings, profits, profits and proceeds thereof, funds, funds or payments which are not readily identifiable as belonging assets held with respect to any particular Series or Class (collectively "General ItemsAssets"), the Trustees Administrator shall allocate such General Items to and Assets to, between or among any one or more of the Series or Classes established and designated from time to time in such manner and on such basis as they, in their sole discretion, deem the Administrator upon written instructions from the Requisite Holders deems fair and equitable; , and any General Items Assets so allocated to a particular Series or Class shall belong thereupon be held with respect to that Series or Classand be deemed assets belonging to such Series. Each such allocation by the Trustees Administrator shall be conclusive and binding upon the Shareholders Beneficial Owners of all Series and Classes for all purposes. Separate and distinct records shall be maintained for each Series and the assets held with respect to each Series shall be held and accounted for separately from the assets held with respect to all other Series and the General Assets of the Trust not allocated to such Series. No holder of Shares of any particular Series or Class shall have any claim on or right to any or interest in the assets allocated or belonging to any other Series of Shares or Class. No holder of Shares of any particular Series or Class shall be entitled to participate in a derivative or class action on behalf of any other Series or Class or the Shareholders of any other Series or Class. The Trustees Series, and no Beneficial Owners shall have full discretion, any right or interest with respect to the extent assets belonging to any Series in which it does not inconsistent with the 1940 Act, to determine which items shall be treated as income and which items as capital; and each such determination and allocation shall be conclusive and binding upon the Shareholdershave a Beneficial Interest.

Assets Belonging to Series. All consideration received by the Trust for the issue or sale of Shares Beneficial Interests of a particular Series or ClassSeries, together with all assets in which such consideration is invested or reinvested, all income, earnings, profits, and proceeds thereof, including any proceeds derived from the sale, exchange or liquidation of such assets, and any funds or payments derived from any reinvestment of such proceeds in whatever form fonn the same may be, shall irrevocably be held for the benefit of the Beneficial Owners who have Beneficial Interests in that Series and shall inevocably belong to that Series or Class for all purposes, subject only to the rights of creditors of such Series or ClassSeries, and shall be so recorded upon the books of account of the TrustTrust and shall be held and accounted for separately by the Administrator from the other assets of the Trust or any other Series. Such consideration, assets, income, earnings, profits profits, and proceeds thereof, including any proceeds derived from the sale, exchange or liquidation of such assets, and any funds or payments derived from any reinvestment of such proceeds, in whatever form the same may be, together with any General Items allocated to that Series or Class as provided in the following sentence, are herein referred refened to as "assets belonging to" that Series or ClassSeries. In the event that there are any assets, incomesincome, earnings, profits, profits and proceeds thereof, funds, funds or payments which are not readily identifiable as belonging assets held with respect to any particular Series or Class (collectively "General ItemsAssets"), the Trustees Administrator shall allocate such General Items to and Assets to, between or among any one or more of the Series or Classes established and designated from time to time in such manner and on such basis as they, in their sole discretion, deem the Administrator upon written instructions from the Requisite Holders deems fair and equitable; , and any General Items Assets so allocated to a particular Series or Class shall belong thereupon be held with respect to that Series or Classand be deemed assets belonging to such Series. Each such allocation by the Trustees Administrator shall be conclusive and binding upon the Shareholders Beneficial Owners of all Series and Classes for all purposes. Separate and distinct records shall be maintained for each Series and the assets held with respect to each Series shall be held and accounted for separately from the assets held with respect to all other Series and the General Assets of the Trust not allocated to such Series. No holder of Shares of any particular Series or Class shall have any claim on or right to any or interest in the assets allocated or belonging to any other Series of Shares or Class. No holder of Shares of any particular Series or Class shall be entitled to participate in a derivative or class action on behalf of any other Series or Class or the Shareholders of any other Series or Class. The Trustees Series, and no Beneficial Owners shall have full discretion, any right or interest with respect to the extent assets belonging to any Series in which it does not inconsistent with the 1940 Act, to determine which items shall be treated as income and which items as capital; and each such determination and allocation shall be conclusive and binding upon the Shareholdershave a Beneficial Interest.