Common use of Establishment of Series or Class Clause in Contracts

Establishment of Series or Class. The Trust shall consist of one or more Series. The Trustees hereby establish the Series listed in Schedule A attached hereto and made a part hereof. Each additional Series shall be established and is effective upon the adoption of a resolution of a majority of the Trustees or any alternative date specified in such resolution. The Trustees may designate the relative rights and preferences of the Shares of each Series. The Trustees may divide the Shares of any Series into Classes. In such case each Class of a Series shall represent interests in the assets of that Series and have identical voting, dividend, liquidation and other rights and the same terms and conditions, except that expenses allocated to a Class may be borne solely by such Class as determined by the Trustees and a Class may have exclusive voting rights with respect to matters affecting only that Class. The Trust shall maintain separate and distinct records for each Series and hold and account for the assets thereof separately from the other assets of the Trust or of any other Series. A Series may issue any number of Shares and need not issue Shares. Each Share of a Series shall represent an equal beneficial interest in the net assets of such Series. Each holder of Shares of a Series shall be entitled to receive his pro rata share of all distributions made with respect to such Series. Upon redemption of his Shares, such Shareholder shall be paid solely out of the funds and property of such Series. The Trustees may adopt and change the name of any Series or Class.

Establishment of Series or Class. The Board may divide the Trust shall consist of into one or more Series. The Trustees hereby may divide any Series into one or more Classes of Interests. The Initial Trustees shall establish the initial Series listed in Schedule A attached hereto and made a part hereofClasses of each Series by written unanimous consent. Each additional Series shall or division of Series into Classes may be established and is effective upon the adoption of a resolution of a majority by any permissible action of the Trustees or any alternative date specified in such resolutionTrustees, including by resolution at a meeting. The Trustees may designate the relative rights and preferences of the Shares Interests of each Series. The Trustees may divide the Shares of any If a Series is divided into Classes. In such case , each Class of a Series shall represent interests an undivided beneficial interest in the assets of that Series and have identical voting, dividend, liquidation and other rights and the same terms and conditions, except that expenses allocated to a Class may shall be borne solely by such Class as determined by the Trustees and a Class may have exclusive voting rights with respect to matters affecting only that Class. The Trust shall maintain separate and distinct records for each Series and hold and account for the assets thereof separately from the other assets of the Trust or of any other Series. A Series may issue any number of Shares Interests and need not issue Sharesany Interests. Each Share of a Series shall represent an equal undivided beneficial interest in the net assets of such SeriesSeries except to the extent affected by expense allocations. Each holder of Shares Interests of a Series shall be entitled to receive his or her pro rata share of all distributions made with respect to such SeriesSeries except to the extent affected by expense allocations. Upon redemption of his Sharesor her Interests, such Shareholder Interestholder shall be paid solely out of the funds and property of such Series. The Trustees may adopt and change the name of any Series or Class. Section 2.

Establishment of Series or Class. The Board may divide the Trust shall consist of into one or more Series. The Trustees hereby may divide any Series into one or more Classes of Shares. The Initial Trustees shall establish the initial Series listed in Schedule A attached hereto and made a part hereofClasses of each Series by written unanimous consent. Each additional Series shall or division of Series into Classes may be established and is effective upon the adoption of a resolution of a majority by any permissible action of the Trustees or any alternative date specified in such resolutionTrustees, including by resolution at a meeting. The Trustees may designate the relative rights and preferences of the Shares of each Series. The Trustees may divide the Shares of any If a Series is divided into Classes. In such case , each Class of a Series shall represent interests an undivided beneficial interest in the assets of that Series and have identical voting, dividend, liquidation and other rights and the same terms and conditions, except that expenses allocated to a Class may shall be borne solely by such Class as determined by the Trustees and a Class may have exclusive voting rights with respect to matters affecting only that Class. The Trust shall maintain separate and distinct records for each Series and hold and account for the assets thereof separately from the other assets of the Trust or of any other Series. A Series may issue any number of Shares and need not issue any Shares. Each Share of a Series shall represent an equal undivided beneficial interest in the net assets of such SeriesSeries except to the extent affected by expense allocations. Each holder of Shares of a Series shall be entitled to receive his or her pro rata share of all distributions made with respect to such SeriesSeries except to the extent affected by expense allocations. Upon redemption of his or her Shares, such Shareholder shall be paid solely out of the funds and property of such Series. The Trustees may adopt and change the name of any Series or Class. Section 2.