Common use of Establishment of Portfolios and Classes Clause in Contracts

Establishment of Portfolios and Classes. (a) The Trust shall consist of one or more separate and distinct Portfolios, each with an unlimited number of Shares unless otherwise specified. The Trustees hereby establish and designate the Portfolios listed on Schedule A attached hereto and made a part hereof (“Schedule A”). Each additional Portfolio shall be established by the adoption of one or more resolutions by the Trustees that sets forth the designation of, or otherwise identifies, such Portfolio, whether directly in such resolution or by reference to, or approval of, another document that sets forth the designation of, or otherwise identifies, such Portfolio including any Registration Statement, any amendment of this Agreement and/or Schedule A or as otherwise provided in such resolution. Upon the establishment of any Portfolio or the termination of any existing Portfolio, Schedule A shall be amended to reflect the addition or termination of such Portfolio and any officer of the Trust is hereby authorized to make such amendment; provided that the amendment of Schedule A shall not be a condition precedent to the establishment or termination of any Portfolio in accordance with this Agreement. The Shares of each Portfolio shall have the relative rights and preferences provided for herein and such rights and preferences as may be designated by the Trustees in any amendment or modification to the Trust’s Governing Instrument, unless the establishing resolution or any other resolution adopted pursuant to this Section 2.3 or the Registration Statement otherwise provides. The Trust shall maintain separate and distinct records of each Portfolio and shall hold the assets belonging to such Portfolio in such separate and distinct records and shall account for such assets in such separate and distinct records separately from the other Trust Property and the assets belonging to any other Portfolio. Each Share of a Portfolio shall represent an equal beneficial interest in the net assets belonging to that Portfolio, except to the extent of Class Expenses and other expenses separately allocated to Classes thereof (if any Classes have been established) as permitted herein. Any action that may be taken by the Trustees with respect to any Portfolio, including any addition, modification, division, combination, classification, reclassification, change of name or termination may be made in the same manner as the establishment of such Portfolio.

Establishment of Portfolios and Classes. (a) The Trust shall consist of one or more separate and distinct Portfolios, each with an unlimited number of Shares unless otherwise specified. The Trustees hereby establish and designate the Portfolios listed on Schedule A attached hereto and made a part hereof (“Schedule A”). Each additional Portfolio shall be established by the adoption of one or more resolutions by the Trustees that sets forth the designation of, or otherwise identifies, such Portfolio, whether directly in such resolution or by reference to, or approval of, another document that sets forth the designation of, or otherwise identifies, such Portfolio Portfolio, including any Registration Statement, any amendment of this Agreement and/or Schedule A or as otherwise provided in such resolution. Upon the establishment of any Portfolio or the termination of any existing Portfolio, Schedule A shall be amended to reflect the addition or termination of such Portfolio and any officer of the Trust is hereby authorized to make such amendment; provided that the amendment of Schedule A shall not be a condition precedent to the establishment or termination of any Portfolio in accordance with this Agreement. The Shares of each Portfolio shall have the relative rights and preferences provided for herein and such rights and preferences as may be designated by the Trustees in any amendment or modification to the Trust’s Governing Instrument, unless the establishing resolution or any other resolution adopted pursuant to this Section 2.3 or the Registration Statement otherwise provides. The Trust shall maintain separate and distinct records of each Portfolio and shall hold the assets belonging to such Portfolio in such separate and distinct records and shall account for such assets in such separate and distinct records separately from the other Trust Property and the assets belonging to any other Portfolio. Each Share of a Portfolio shall represent an equal beneficial interest in the net assets belonging to that Portfolio, except to the extent of Class Expenses and other expenses separately allocated to Classes thereof (if any Classes have been established) as permitted herein. Any action that may be taken by the Trustees with respect to any Portfolio, including any addition, modification, division, combination, classification, reclassification, change of name or termination may be made in the same manner as the establishment of such Portfolio.

Establishment of Portfolios and Classes. (a) The Trust shall consist of one or more separate and distinct Portfolios, each with an unlimited number of Shares unless otherwise specified. The Trustees hereby establish and designate the Portfolios listed on Schedule A attached hereto and made a part hereof (“"Schedule A”"). Each additional Portfolio shall be established by the adoption of one or more resolutions by the Trustees that sets forth the designation of, or otherwise identifies, such Portfolio, whether directly in such resolution or by reference to, or approval of, another document that sets forth the designation of, or otherwise identifies, such Portfolio including any Registration Statement, any amendment of this Agreement and/or Schedule A or as otherwise provided in such resolution. Upon the establishment of any Portfolio or the termination of any existing Portfolio, Schedule A shall be amended to reflect the addition or termination of such Portfolio and any officer of the Trust is hereby authorized to make such amendment; provided that the amendment of Schedule A shall not be a condition precedent to the establishment or termination of any Portfolio in accordance with this Agreement. The Shares of each Portfolio shall have the relative rights and preferences provided for herein and such rights and preferences as may be designated by the Trustees in any amendment or modification to the Trust’s 's Governing Instrument, unless the establishing resolution or any other resolution adopted pursuant to this Section 2.3 or the Registration Statement otherwise provides. The Trust shall maintain separate and distinct records of each Portfolio and shall hold the assets belonging to such Portfolio in such separate and distinct records and shall account for such assets in such separate and distinct records separately from the other Trust Property and the assets belonging to any other Portfolio. Each Share of a Portfolio shall represent an equal beneficial interest in the net assets belonging to that Portfolio, except to the extent of Class Expenses and other expenses separately allocated to Classes thereof (if any Classes have been established) as permitted herein. Any action that may be taken by the Trustees with respect to any Portfolio, including any addition, modification, division, combination, classification, reclassification, change of name or termination may be made in the same manner as the establishment of such Portfolio.

Establishment of Portfolios and Classes. (a) The Trust shall consist of one or more Portfolios and Classes and separate and distinct Portfolios, records shall be maintained by the Trust for each with an unlimited number of Shares unless otherwise specifiedPortfolio and Class. The Trustees hereby shall have full power and authority, in their sole discretion, and without obtaining any prior authorization or vote of the Shareholders of any Portfolio or Class of the Trust, to establish and designate and to change in any manner any initial or additional Portfolios or Classes and to fix such preferences, voting powers, rights and privileges of such Portfolios or Classes as the Trustees may from time to time determine, to divide or combine the Shares or any Portfolios listed on Schedule A attached hereto or Classes into a greater or lesser number, to classify or reclassify any issued Shares of any Portfolios or Classes into one or more Portfolios or Classes of Shares, and made a part hereof (“Schedule A”)to take such other action with respect to the Shares as the Trustees may deem desirable. Each additional Unless another time is specified by the Trustees, the establishment and designation of any Portfolio or Class shall be established by effective upon the adoption of one or more resolutions a resolution by the Trustees that sets setting forth such establishment and designation and the designation ofpreferences, powers, rights and privileges of the Shares of such Portfolio or otherwise identifies, such PortfolioClass, whether directly in such resolution or by reference to, or approval of, another document that sets forth the designation of, or otherwise identifies, such relative rights and preferences of such Portfolio including any Registration Statement(or Class) including, without limitation, any amendment registration statement of this Agreement and/or Schedule A the Trust, or as otherwise provided in such resolution. Upon the establishment The Trust may issue any number of any Portfolio or the termination of any existing Portfolio, Schedule A shall be amended to reflect the addition or termination of such Portfolio and any officer of the Trust is hereby authorized to make such amendment; provided that the amendment of Schedule A shall not be a condition precedent to the establishment or termination of any Portfolio in accordance with this Agreement. The Shares of each Portfolio or Class and need not issue certificates for any Shares. All references to Shares in this Declaration of Trust shall have be deemed to be Shares of any or all Portfolios or Classes as the relative rights and preferences provided for context may require. All provisions herein and such rights and preferences as may be designated by the Trustees in any amendment or modification relating to the Trust’s Governing Instrument, unless the establishing resolution or any other resolution adopted pursuant to this Section 2.3 or the Registration Statement otherwise provides. The Trust shall maintain separate and distinct records of apply equally to each Portfolio and shall hold Class of the assets belonging to such Portfolio in such separate and distinct records and shall account for such assets in such separate and distinct records separately from Trust except as the other Trust Property and the assets belonging to any other Portfoliocontext otherwise requires. Each Share All Shares of each Class of a particular Portfolio shall represent an equal beneficial proportionate interest in the net assets belonging to that Portfolio (subject to the liabilities belonging to the Portfolio, except and, in the case of each Class, to the extent liabilities belonging to that Class), and each Share of any Class Expenses and of a particular Portfolio shall be equal to each other expenses separately allocated to Classes thereof (if Share of that Class; but the provisions of this sentence shall not restrict any Classes have been established) as permitted hereindistinctions permissible under this Section 2.6. Any action that may be taken by the Trustees with respect to any Portfolio, including any addition, modification, division, combination, classification, reclassification, change of name or termination may be made in the same manner as the establishment of such Portfolio.Section 2.7

Establishment of Portfolios and Classes. (a) The Trust shall consist of one or more separate and distinct Portfolios, each with an unlimited number of Shares unless otherwise specified. The Trustees hereby shall from time to time establish and designate the such Portfolios as shall be listed on Schedule A attached hereto and made a part hereof (“"Schedule A”''). Each additional Portfolio shall be established by the adoption of one or more resolutions by the Trustees that sets forth the designation of, or otherwise identifies, such Portfolio, whether directly in Trustees. Each such resolution is hereby incorporated herein by this reference and made a part of the Trust's Governing Instrument whether or by reference to, or approval of, another document that sets forth the designation of, or otherwise identifies, such Portfolio including any Registration Statement, any amendment of this Agreement and/or Schedule A or as otherwise provided not expressly stated in such resolution. Upon , and shall be effective upon the establishment occurrence of any both (i) the date stated therein (or, if no such date is stated, upon the date of such adoption) and (ii) the execution of an amendment either to this Agreement or to Schedule A hereto establishing and designating such initial or additional Portfolio or the termination of any existing Portfolio, Schedule A shall be amended to reflect the addition or termination of such Portfolio and any officer of the Trust is hereby authorized to make such amendment; provided that the amendment of Schedule A shall not be a condition precedent to the establishment or termination of any Portfolio in accordance with this AgreementPortfolios. The Shares of each Portfolio shall have the relative rights and preferences provided for herein and such rights and preferences as may be designated by the Trustees in any amendment or modification to the Trust’s 's Governing Instrument, unless the establishing resolution or any other resolution adopted pursuant to this Section 2.3 or the Registration Statement otherwise provides. The Trust shall maintain separate and distinct records of each Portfolio and shall hold and account for the assets belonging to such Portfolio in such separate and distinct records and shall account for such assets in such separate and distinct records thereto separately from the other Trust Property and the assets belonging to any other Portfolio. Each Share of a Portfolio shall represent an equal beneficial interest in the net assets belonging to that Portfolio, except to the extent of Class Expenses and other expenses separately allocated to Classes thereof (if any Classes have been established) as permitted herein. Any action (b) The Trustees may establish one or more Classes of Shares of any Portfolio, each with an unlimited number of Shares unless otherwise specified. Each Class so established and designated shall represent a Proportionate Interest in the net assets belonging to that Portfolio and shall have identical voting, dividend, liquidation, and other rights and be subject to the same terms and conditions, except that (i) Class Expenses allocated to a Class for which such expenses were incurred shall be borne solely by that Class, (ii) other expenses, costs, charges; and reserves allocated to a Class in accordance with Section 2.5(e) may be taken borne solely by that Class, (iii) dividends declared and payable or other distributions made to a Class pursuant to Section 7.1 shall reflect the items separately allocated thereto pursuant to the preceding clauses, (iv) each Class may have separate rights to convert to another Class, exchange rights, and similar rights, each as determined by the Trustees Trustees, and (v) each Class may have exclusive voting rights with respect to matters affecting only that Class. The Trustees hereby establish for each Portfolio listed on Schedule A the Classes listed thereon. Each additional Class for any Portfolioor all Portfolios shall be established by the adoption of one or more resolutions by the Trustees, including any additioneach of which is hereby incorporated herein by this reference and made part of the Governing Instrument, modificationwhether or not expressly stated in such resolution, divisionand shall be effective upon the occurrence of both (x) the date stated therein (or, combinationif no such date is stated, classification, reclassification, change of name or termination may be made in upon the same manner as the establishment date of such Portfolio.adoption) and (y) the execution of an amendment to this Agreement establishing and designating such additional Class or Classes. Section 2.4

Establishment of Portfolios and Classes. (a) The Trust shall consist of one or more Portfolios and Classes and separate and distinct Portfolios, records shall be maintained by the Trust for each with an unlimited number of Shares unless otherwise specifiedPortfolio and Class. The Trustees hereby shall have full power and authority, in their sole discretion, and without obtaining any prior authorization or vote of the Shareholders of any Portfolio or Class of the Trust, to establish and designate and to change in any manner any initial or additional Portfolios or Classes and to fix such preferences, voting powers, rights and privileges of such Portfolios or Classes as the Trustees may from time to time determine, to divide or combine the Shares or any Portfolios listed on Schedule A attached hereto or Classes into a greater or lesser number, to classify or reclassify any issued Shares of any Portfolios or Classes into one or more Portfolios or Classes of Shares, and made a part hereof (“Schedule A”)to take such other action with respect to the Shares as the Trustees may deem desirable. Each additional Unless another time is specified by the Trustees, the establishment and designation of any Portfolio or Class shall be established by effective upon the adoption of one or more resolutions a resolution by the Trustees that sets setting forth such establishment and designation and the designation ofpreferences, powers, rights and privileges of the Shares of such Portfolio or otherwise identifies, such PortfolioClass, whether directly in such resolution or by reference to, or approval of, another document that sets forth the designation of, or otherwise identifies, such relative rights and preferences of such Portfolio including any Registration Statement(or Class) including, without limitation, any amendment registration statement of this Agreement and/or Schedule A the Trust, or as otherwise provided in such resolution. Upon the establishment The Trust may issue any number of any Portfolio or the termination of any existing Portfolio, Schedule A shall be amended to reflect the addition or termination of such Portfolio and any officer of the Trust is hereby authorized to make such amendment; provided that the amendment of Schedule A shall not be a condition precedent to the establishment or termination of any Portfolio in accordance with this Agreement. The Shares of each Portfolio or Class and need not issue certificates for any Shares. All references to Shares in this Declaration of Trust shall have be deemed to be Shares of any or all Portfolios or Classes as the relative rights and preferences provided for context may require. All provisions herein and such rights and preferences as may be designated by the Trustees in any amendment or modification relating to the Trust’s Governing Instrument, unless the establishing resolution or any other resolution adopted pursuant to this Section 2.3 or the Registration Statement otherwise provides. The Trust shall maintain separate and distinct records of apply equally to each Portfolio and shall hold Class of the assets belonging to such Portfolio in such separate and distinct records and shall account for such assets in such separate and distinct records separately from Trust except as the other Trust Property and the assets belonging to any other Portfoliocontext otherwise requires. Each Share All Shares of each Class of a particular Portfolio shall represent an equal beneficial proportionate interest in the net assets belonging to that Portfolio (subject to the liabilities belonging to the Portfolio, except and, in the case of each Class, to the extent liabilities belonging to that Class), and each Share of any Class Expenses and of a particular Portfolio shall be equal to each other expenses separately allocated to Classes thereof (if Share of that Class; but the provisions of this sentence shall not restrict any Classes have been established) as permitted herein. Any action that may be taken by the Trustees with respect to any Portfolio, including any addition, modification, division, combination, classification, reclassification, change of name or termination may be made in the same manner as the establishment of such Portfoliodistinctions permissible under this Section 2.6.

Establishment of Portfolios and Classes. (a) The Trust shall consist of one or more separate and distinct Portfolios, each with an unlimited number of Shares unless otherwise specified. The Trustees hereby establish and designate the Portfolios listed on Schedule A attached hereto and made a part hereof (“Schedule A”). Each additional Portfolio shall be established by the adoption of one or more resolutions by the Trustees that sets forth the designation of, or otherwise identifies, such Portfolio, whether directly in such resolution or by reference to, or approval of, another document that sets forth the designation of, or otherwise identifies, such Portfolio Portfolio, including any Registration Statement, any amendment of this Agreement and/or Schedule A or as otherwise provided in such resolution. Upon the establishment of any Portfolio or the termination of any existing Portfolio, Schedule A shall be amended to reflect the addition or termination of such Portfolio and any officer of the Trust is hereby authorized to make such amendment; provided that the amendment of Schedule A shall not be a condition precedent to the establishment or termination of any Portfolio in accordance with this Agreement. The Shares of each Portfolio shall have the relative rights and preferences provided for herein and such rights and preferences as may be designated by the Trustees in any amendment or modification to the Trust’s Governing Instrument, unless the establishing resolution or any other resolution adopted pursuant to this Section 2.3 or the Registration Statement otherwise provides. The Trust shall maintain separate and distinct records of each Portfolio and shall hold the assets belonging to such Portfolio in such separate and distinct records and shall account for such assets in such separate and distinct records separately from the other Trust Property and the assets belonging to any other Portfolio. Each Share of a Portfolio shall represent an equal beneficial interest in the net assets belonging to that Portfolio, except to the extent of Class Expenses and other expenses separately allocated to Classes thereof (if any Classes have been established) as permitted herein. Any action that may be taken by the Trustees with respect to any Portfolio, including any addition, modification, division, combination, classification, reclassification, change of name or termination may be made in the same manner as the establishment of such Portfolio.

Establishment of Portfolios and Classes. (a) The Trust shall consist of one or more separate and distinct Portfolios, each with an unlimited number of Shares unless otherwise specified. The Trustees hereby establish and designate the Portfolios and separate Classes of each such Portfolio listed on Schedule A attached hereto and made a part hereof (“Schedule A”). Each additional Portfolio shall be established by the adoption of one or more resolutions by the Trustees that sets forth the designation of, or otherwise identifies, such Portfolio, whether directly in such resolution or by reference to, or approval of, another document that sets forth the designation of, or otherwise identifies, such Portfolio Portfolio, including any Registration Statement, any amendment of this Agreement and/or Schedule A or as otherwise provided in such resolution. Upon the establishment of any Portfolio or the termination of any existing Portfolio, Schedule A shall be amended to reflect the addition or termination of such Portfolio and any officer of the Trust is hereby authorized to make such amendment; provided that the amendment of Schedule A shall not be a condition precedent to the establishment or termination of any Portfolio in accordance with this Agreement. The Shares of each Portfolio shall have the relative rights and preferences provided for herein and such rights and preferences as may be designated by the Trustees in any amendment or modification to the Trust’s Governing Instrument, unless the establishing resolution or any other resolution adopted pursuant to this Section 2.3 or the Registration Statement otherwise provides. The Trust shall maintain separate and distinct records of each Portfolio and shall hold the assets belonging to such Portfolio in such separate and distinct records and shall account for such assets in such separate and distinct records separately from the other Trust Property and the assets belonging to any other Portfolio. Each Share of a Portfolio shall represent an equal beneficial interest in the net assets belonging to that Portfolio, except to the extent of Class Expenses and other expenses separately allocated to Classes thereof (if any Classes have been established) as permitted herein. Any action that may be taken by the Trustees with respect to any Portfolio, including any addition, modification, division, combination, classification, reclassification, change of name or termination may be made in the same manner as the establishment of such Portfolio.

Establishment of Portfolios and Classes. (a) The Trust shall initially consist of one Portfolio, with an unlimited number of Shares. The initial Trustee hereby establishes and designates the Portfolio listed on Schedule A attached hereto and made a part hereof ("Schedule A"). Provided that the Trust has received a Class/Series Exemption, the Trustees may establish one or more additional separate and distinct Portfolios, each with an unlimited number of Shares unless otherwise specified. The Trustees hereby establish and designate the Portfolios listed on Schedule A attached hereto and made a part hereof (“Schedule A”). Each additional Portfolio shall be established by the adoption of one or more resolutions a resolution by the Trustees that sets forth the designation of, or otherwise identifies, such Portfolio, whether directly in Trustees. Each such resolution is hereby incorporated herein by this reference and made a part of the Trust's Governing Instrument whether or by reference to, or approval of, another document that sets forth the designation of, or otherwise identifies, such Portfolio including any Registration Statement, any amendment of this Agreement and/or Schedule A or as otherwise provided not expressly stated in such resolution. Upon , and shall be effective upon the establishment occurrence of any both (i) the date stated therein (or, if no such date is stated, upon the date of such adoption) and (ii) the execution of an amendment either to this Agreement or to Schedule A hereto establishing and designating such additional Portfolio or the termination of any existing Portfolio, Schedule A shall be amended to reflect the addition or termination of such Portfolio and any officer of the Trust is hereby authorized to make such amendment; provided that the amendment of Schedule A shall not be a condition precedent to the establishment or termination of any Portfolio in accordance with this AgreementPortfolios. The Shares of each Portfolio shall have the relative rights and preferences provided for herein and such rights and preferences as may be designated by the Trustees in any amendment or modification to the Trust’s 's Governing Instrument, unless the establishing resolution or any other resolution adopted pursuant to this Section 2.3 or the Registration Statement otherwise provides. The Trust shall maintain separate and distinct records of each Portfolio and shall hold and account for the assets belonging to such Portfolio in such separate and distinct records and shall account for such assets in such separate and distinct records thereto separately from the other Trust Property and the assets belonging to any other Portfolio. Each Share of a Portfolio shall represent an equal beneficial interest in the net assets belonging to that Portfolio, except to the extent of Class Expenses and other expenses separately allocated to Classes thereof (if any Classes have been established) as permitted herein. Any action that may be taken by the Trustees with respect to any Portfolio, including any addition, modification, division, combination, classification, reclassification, change of name or termination may be made in the same manner as the establishment of such Portfolio.