Common use of Redemptions and Repurchases Clause in Contracts

Redemptions and Repurchases. Section 2. Any holder of Shares of the Trust may by presentation of a written request, together with his certificates, if any, for such Shares, in proper form for transfer, at the office of the Trust, the adviser, the underwriter or the distributors, or at a principal office of a transfer or Shareholder services agent appointed by the Trust (as the Trustees may determine), redeem his Shares for the net asset value thereof determined and computed in accordance with the provisions of this Section 2 and the provisions of Section 5 of Article VI of this Declaration of Trust, less any redemption charge which the Trustees may establish. Upon receipt of such written request for redemption of Shares by the Trust, the adviser, the underwriter or the distributor, or the Trust's transfer or Shareholder services agent, such Shares shall be redeemed at the net asset value per share of the particular series next determined after such Shares are tendered in proper form for transfer to the Trust or determined as of such other time fixed by the Trustees, as may be permitted or required by the 1940 Act, provided that no such tender shall be required in the case of Shares for which a certificate or certificates have not been issued, and in such case such Shares shall be redeemed at the net asset value per share of the particular series next determined after such demand has been received or determined at such other time fixed by the Trustees, as may be permitted or required by the 0000 Xxx. The obligation of the Trust to redeem its Shares of each series as set forth above in this Section 2 shall be subject to the condition that, during any time of emergency, as hereinafter defined, such obligation may be suspended by the Trust by or under authority of the Trustees for such period or periods during such time of emergency as shall be determined by or under authority of the Trustees. If there is such a suspension, any Shareholder may withdraw any demand for redemption and any tender of Shares which has been received by the Trust during any such period and any tender of Shares the applicable net asset value of which would but for such suspension be calculated as of a time during such period. Upon such withdrawal, the trust shall return to the Shareholder the certificates therefor, if any. For the purposes of any such suspension "time of emergency" shall mean, either with respect to all Shares or any series of Shares, any period during which:

Redemptions and Repurchases. Section SECTION 2. Any holder of Shares of the Trust may by presentation of a written request, together with his or her certificates, if any, for such Shares, in proper form for transfer, at the office of the Trust, the adviser, the underwriter or the distributors, Trust or at a principal office of a transfer or Shareholder services agent appointed by the Trust (as the Trustees may determine)Trust, redeem his or her Shares for the net asset value thereof determined and computed in accordance with the provisions of this Section 2 and the provisions of Section 5 of Article VI 7 of this Declaration of Trust, less any redemption charge which the Trustees may establishArticle VI. Upon receipt by the Trust or its transfer agent of such written request for redemption of Shares by the Trust, the adviser, the underwriter or the distributor, or the Trust's transfer or Shareholder services agentShares, such Shares shall be redeemed at the net asset value per share of the particular appropriate series next determined after such Shares are tendered in proper form order for transfer to the Trust or determined as of such other time fixed by the Trustees, Trustees as may be permitted or required by the 1940 Act, provided that no such tender shall be required in the case of Shares for which a certificate or certificates have not been issued, and in such case such Shares shall be redeemed at the net asset value per share of the particular appropriate series next determined after such demand request has been received in proper form or determined at such other time fixed by the Trustees, Trustees as may be permitted or required by the 0000 Xxx. The obligation of the Trust to redeem its Shares of each series or class as set forth above in this Section 2 shall be subject to the condition that, conditions that during any time of emergency, as hereinafter defined, such obligation may be suspended by the Trust by or under authority of the Trustees for such period or periods during such time of emergency as shall be determined by or under authority of the Trustees. If there is such a suspension, any Shareholder may withdraw any demand for redemption and any tender of for Shares which has been received by the Trust during any such period and any tender of Shares Shares, the applicable net asset value of which would but for such suspension be calculated as of a time during such period. Upon such withdrawal, the trust Trust shall return to the Shareholder the certificates therefor, if any. For the purposes of any such suspension suspension, "time of emergency" shall mean, either with respect to all Shares or any series of Shares, any period during which:

Redemptions and Repurchases. Section SECTION 2. Any holder of Shares of the Trust may may, by presentation of a written request, together with his or her certificates, if any, for such Shares, in proper form for transfer, at the office of the Trust, the adviser, the underwriter or the distributors, or at a principal office of a transfer or Shareholder services agent appointed by the Trust (as the Trustees may determine), or in accordance with such other procedures for redemption as the Trustees may from time to time authorize, redeem his or her Shares in accordance with the provisions of this Section 2 for the net asset value thereof determined and computed in accordance with the provisions of this Section 2 and the provisions of Section 5 of Article VI of this Declaration of TrustBy-Laws, less any redemption charge which the Trustees may establishestablish including any contingent deferred sales charge to which redemption of such Shares may be subject. Upon receipt of such written request for redemption of Shares by the Trust, the adviser, the underwriter or the distributor, or the Trust's transfer or Shareholder services agent, the Trust shall purchase such Shares and shall be redeemed at pay therefor the net asset value per share thereof next determined after such receipt or, in the case of Shares for which certificates have been issued, the particular series net asset value thereof next determined after such Shares are tendered in proper form for transfer to the Trust or determined as of such other time fixed by the TrusteesTrust, as may be permitted or required by the 1940 Actor, provided that no such tender shall be required in the case of Shares for which a certificate or certificates have not been issuedeither case, and in such case such Shares shall be redeemed at the net asset value per share thereof determined as of the particular series next determined after such demand has been received or determined at such other time fixed by the Trustees, as may be permitted or required by the 0000 Xxx. The obligation of the Trust to redeem its Shares of each series as set forth above in this Section 2 shall be subject to the condition that, during any time of emergency, as hereinafter defined, such obligation may be suspended by the Trust by or under authority of the Trustees for such period or periods during such time of emergency as shall be determined by or under authority of the Trustees. If there is such a suspension, any Shareholder may withdraw any demand for redemption and any tender of Shares which has been received by the Trust during any such period and any tender of Shares the applicable net asset value of which would but for such suspension be calculated as of a time during such period. Upon such withdrawal, the trust Trust shall return to the Shareholder the certificates therefor, if any. Shareholders who do not so withdraw any such demand shall receive payment based on the net asset value next determined after the termination of such suspension. For the purposes of any such suspension "time of emergency" shall mean, either with respect to all Shares or any series of Shares, as appropriate, any period during which:

Redemptions and Repurchases. Except as may be provided by the Trustees in resolutions establishing a Series under Article III, Section 2. Any holder of Shares of 7, the Trust may shall purchase such Shares as are offered by any Shareholder for redemption, upon the presentation of a written request, proper instrument of transfer together with his certificates, if any, for such Shares, in proper form for transfer, at a request directed to the office of the Trust, the adviser, the underwriter Trust or the distributors, or at a principal office of a transfer or Shareholder services agent appointed Person designated by the Trust (that the Trust purchase such Shares or in accordance with such other procedures for redemption as the Trustees may determine), redeem his Shares for from time to time authorize; and the Trust will pay therefor the net asset value thereof determined and computed thereof, in accordance with the provisions of By-Laws and applicable law. Payment for said Shares shall be made by the Trust to the Shareholder within seven days after the date on which the request is made in proper form. The obligation set forth in this Section 2 and is subject to the provisions provision that in the event that any time the New York Stock Exchange (the "Exchange") is closed for other than weekends or holidays, or if permitted by the Commission during periods when trading on the Exchange is restricted or during any emergency which makes it impracticable for the Trust to dispose of Section 5 the investments of Article VI the applicable Series or to determine fairly the value of this Declaration the net assets held with respect to such Series or during any other period permitted by order of Trustthe Commission for the protection of investors, less any such obligations may be suspended or postponed by the Trustees. In the case of a suspension of the right of redemption charge which as provided herein, a Shareholder may either withdraw the Trustees may establish. Upon receipt of such written request for redemption of Shares by the Trust, the adviser, the underwriter or the distributor, or the Trust's transfer or Shareholder services agent, such Shares shall be redeemed at receive payment based on the net asset value per share of the particular series Share next determined after the termination of such suspension. The redemption price may in any case or cases be paid wholly or partly in kind if the Trustees determine that such payment is advisable in the interest of the remaining Shareholders of the Series for which the Shares are tendered in proper form for transfer being redeemed. Subject to the Trust foregoing, the fair value, selection and quantity of securities or determined other property so paid or delivered as of such other time fixed by the Trustees, as may be permitted all or required by the 1940 Act, provided that no such tender shall be required in the case of Shares for which a certificate or certificates have not been issued, and in such case such Shares shall be redeemed at the net asset value per share part of the particular series next determined after such demand has been received or determined at such other time fixed by the Trustees, as redemption price may be permitted or required by the 0000 Xxx. The obligation of the Trust to redeem its Shares of each series as set forth above in this Section 2 shall be subject to the condition that, during any time of emergency, as hereinafter defined, such obligation may be suspended by the Trust by or under authority of the Trustees for such period or periods during such time of emergency as shall be determined by or under authority of the Trustees. If there is such a suspension, any Shareholder may withdraw any demand for redemption and any tender of Shares which has been received by In no case shall the Trust during be liable for any such period and any tender of Shares the applicable net asset value of which would but for such suspension be calculated as of a time during such period. Upon such withdrawal, the trust shall return to the Shareholder the certificates therefor, if any. For the purposes delay of any such suspension "time corporation or other Person in transferring securities selected for delivery as all or part of emergency" shall mean, either with respect to all Shares or any series of Shares, any period during which:payment in kind.

Redemptions and Repurchases. Section 2. Any holder of Shares of the Trust may by presentation of a written request, together with his certificates, if any, for such Shares, in proper form for transfer, at the office of the Trust, the adviserAdvisor, the underwriter or the distributors, or at a principal office of a transfer or Shareholder services shareholder service agent appointed by the Trust (as the Trustees may determine), redeem his Shares shares for the net asset value thereof determined and computed in accordance with the provisions of this Section 2 and the provisions of Section 5 of Article VI of this Declaration of Trust, less any redemption charge which the Trustees may establish. Upon receipt of such written request for redemption of Shares by the Trust, the adviserAdvisor, the underwriter or the distributor, or the Trust's ’s transfer or Shareholder services agentagent of such written request for redemption of Shares, such Shares shall be redeemed at the net asset value per share of the particular series next determined after such Shares are tendered in proper form for transfer to the Trust or determined as of such other time fixed by the Trustees, Trustees as may be permitted or required by the 1940 Act, provided that no such tender shall be required in the case of Shares for which a certificate or certificates have not been issued, and in such case such Shares shall be redeemed at the net asset value per share of the particular series next determined after such demand has been received or determined at such other time fixed by the Trustees, Trustees as may be permitted or required by the 0000 Xxx. The obligation of the Trust to redeem its Shares of each series as set forth above in this Section 2 shall be subject to the condition that, conditions that during any time of emergency, as hereinafter defined, such obligation may be suspended by the Trust by or under authority of the Trustees for such period or periods during such time of emergency as shall be determined by or under authority of the Trustees. If there is such a suspension, any Shareholder may withdraw any demand for redemption and any tender of Shares which has been received by the Trust during any such period and any tender of Shares the applicable net asset value of which would but for such suspension be calculated as of a time during such period. Upon such withdrawal, the trust Trust shall return to the Shareholder the certificates therefor, if any. For the purposes of any such suspension "“time of emergency" ” shall mean, either with respect to all Shares or any series of Shares, any period during which:

Redemptions and Repurchases. Section 2. Any holder of Shares of the Trust may by presentation of a written requestrequest in proper form, together with his certificates, if any, for such Shares, in proper form for transfer, at transfer to the office Trust or duly authorized agent of the Trust, the adviser, the underwriter or the distributors, or at a principal office request redemption of a transfer or Shareholder services agent appointed by the Trust (as the Trustees may determine), redeem his Shares shares for the net asset value thereof determined and computed in accordance with the provisions of this Section 2 and the provisions of Section 5 of Article VI 6 of this Declaration of Trust, less any redemption charge which the Trustees may establishArticle VI. Upon receipt by the Trust or its duly authorized agent, as the case may be, of such written a request for redemption of Shares by the Trust, the adviser, the underwriter or the distributor, or the Trust's transfer or Shareholder services agentin proper form, such Shares shall be redeemed at the net asset value per share of the particular series next determined after such Shares are tendered in proper form for transfer to the Trust request is received or determined as of such other time fixed by the Trustees, Trustees as may be permitted or required by the 1940 Act, provided that no Xxx. Xhe criteria for determining what constitutes a request for redemption in proper form and the time of receipt of such tender request shall be required in the case of Shares for which a certificate or certificates have not been issued, and in such case such Shares shall be redeemed at the net asset value per share of the particular series next determined after such demand has been received or determined at such other time fixed by the Trustees, as may be permitted or required by the 0000 Xxx. The obligation of the Trust to redeem its Shares of each series as set forth above in this Section 2 shall be subject to the condition that, during any time of emergency, as hereinafter defined, that such obligation may be suspended by the Trust by or under authority of the Trustees for such during any period or periods during such time of emergency as shall be determined by or when and to the extent permissible under authority of the Trustees1940 Act. If there is such a suspension, any Shareholder may withdraw any demand request for redemption and any tender of Shares which has been received by the Trust during any such period and any tender of Shares the applicable net asset value of with respect to which would but for such suspension be calculated as of a time during such period. Upon such withdrawal, the trust Trust shall return to the Shareholder the certificates therefor, if any. For The Trust may also purchase, repurchase or redeem Shares in accordance with such other methods, upon such other terms and subject to such other conditions as the purposes Trustee may from time to time authorize at a price not exceeding the net asset value of any such suspension "time of emergency" shall mean, either with respect to all Shares in effect when the purchase or repurchase or any contract to purchase or repurchase is made. Shares redeemed or repurchased by the Trust hereunder shall be canceled upon such redemption or repurchase without further action by the Trust or the Trustees and the number of issued and outstanding Shares of the relevant series of Shares, any period during which:shall thereupon by reduced by such amount.

Redemptions and Repurchases. Section SECTION 2. Any holder of Shares of the Trust may may, by presentation of a written request, together with his or her certificates, if any, for such Shares, in proper form for transfer, at the office of the Trust, the adviser, the underwriter or the distributors, or at a principal office of a transfer or Shareholder services agent appointed by the Trust (as the Trustees may determine), or in accordance with such other procedures for redemption as the Trustees may from time to time authorize, redeem his or her Shares in accordance with the provisions of this Section 2 for the net asset value thereof determined and computed in accordance with the provisions of this Section 2 and the provisions of Section 5 of Article VI of this Declaration of TrustBy-Laws, less any redemption charge which the Trustees may establishestablish including any contingent deferred sales charge to which redemption of such Shares may be subject. Upon receipt of such written request for redemption of Shares by the Trust, the adviser, the underwriter or the distributor, or the Trust's transfer or Shareholder services agent, the Trust shall purchase such Shares and shall be redeemed at pay therefor the net asset value per share thereof next determined after such receipt or, in the case of Shares for which certificates have been issued, the particular series net asset value thereof next determined after such Shares are tendered in proper form for transfer to the Trust or determined as of such other time fixed by the Trusteesor, as may be permitted or required by the 1940 Actin either case, provided that no such tender shall be required in the case of Shares for which a certificate or certificates have not been issued, and in such case such Shares shall be redeemed at the net asset value per share thereof determined as of the particular series next determined after such demand has been received or determined at such other time fixed by the Trustees, as may be permitted or required by the 0000 Xxx. The obligation of the Trust to redeem its Shares of each series as set forth above in this Section 2 shall be subject to the condition that, during any time of emergency, as hereinafter defined, such obligation may be suspended by the Trust by or under authority of the Trustees for such period or periods during such time of emergency as shall be determined by or under authority of the Trustees. If there is such a suspension, any Shareholder may withdraw any demand for redemption and any tender of Shares which has been received by the Trust during any such period and any tender of Shares the applicable net asset value of which would but for such suspension be calculated as of a time during such period. Upon such withdrawal, the trust Trust shall return to the Shareholder the certificates therefor, if any. Shareholders who do not so withdraw any such demand shall receive payment based on the net asset value next determined after the termination of such suspension. For the purposes of any such suspension "time of emergency" shall mean, either with respect to all Shares or any series of Shares, as appropriate, any period during which:

Redemptions and Repurchases. Section 21. Any holder of Shares of the Trust may by presentation of a written requestrequest in proper form, together with his or her certificates, if any, for such Shares, in proper form form, for transfer, at transfer to the office Trust or duly authorized agent of the Trust, the adviser, the underwriter request redemption of his or the distributors, or at a principal office of a transfer or Shareholder services agent appointed by the Trust (as the Trustees may determine), redeem his Shares her shares for the net asset value thereof determined and computed in accordance with the provisions of this Section 2 1 and the provisions of Section 5 of this Article VI of this Declaration of Trust, less any redemption charge which the Trustees may establishVI. Upon receipt by the Trust or its duly authorized agent, as the case may be, of such written a request for redemption of Shares by the Trust, the adviser, the underwriter or the distributor, or the Trust's transfer or Shareholder services agentin proper form, such Shares shall be redeemed at the net asset value per share of the particular series Series or Class next determined after such Shares are tendered in proper form for transfer to the Trust request is received or determined as of such other time fixed by the Trustees, Trustees as may be permitted or required by the 1940 Act, provided that no . The criteria for xxxxxxxxing what constitutes a proper request for redemption and the time of receipt of such tender request shall be required in the case of Shares for which a certificate or certificates have not been issued, and in such case such Shares shall be redeemed at the net asset value per share of the particular series next determined after such demand has been received or determined at such other time fixed by the Trustees, as and such criteria may be permitted established in the Trust's then current prospectus or required established by the 0000 XxxTrust's distributor or transfer agent, subject to approval by the Trustees. The This obligation of the Trust to redeem its Shares of each series Series or Class as set forth above in this Section 2 1 shall be subject to the condition that, during any time of emergency, as hereinafter defined, that such obligation may be suspended by the Trust by or under authority of the Trustees for such during any period or periods during such time of emergency as shall be determined by or when and to the extent permissible under authority of the Trustees1940 Act. If there is such a suspension, any Shareholder may withdraw any demand request for redemption and any tender of Shares which has been received by the Trust during any such period and any tender of Shares the applicable net asset value of with respect to which would but for such suspension be calculated as of a time during such period. Upon such withdrawal, the trust Trust shall return to the Shareholder the certificates therefor, if any. For The Trust may also purchase, repurchase or redeem Shares in accordance with such other methods, upon such other terms and subject to such other conditions as the purposes Trustees may from time to time authorize at a price not exceeding the net asset value of such Shares in effect when the purchase or repurchase or any contract to purchase or repurchase is made. Shares of any Series or Class redeemed or repurchased by the Trust hereunder shall be canceled upon such suspension "time redemption or repurchase without further action by the Trust or the Trustees and the number of emergency" issued and outstanding Shares of such Series shall meanthereupon be reduced by such amount, either with respect to all or Shares redeemed or any series of Shares, any period during which:repurchased may be held by the Trust for resale.

Redemptions and Repurchases. Section 2. Any holder of Shares of the Trust may by presentation of a written request, together with his or her certificates, if any, for such Shares, in proper form for transfer, at the office of the Trust, the adviser, the underwriter or the distributors, Trust or at a principal office of a transfer or Shareholder services agent appointed by the Trust (as the Trustees may determine)Trust, redeem his or her Shares for the net asset value thereof determined and computed in accordance with the provisions of this Section 2 and the provisions of Section 5 of Article VI 7 of this Declaration of Trust, less any redemption charge which the Trustees may establishArticle VI. Upon receipt by the Trust or its transfer agent of such written request for redemption of Shares by the Trust, the adviser, the underwriter or the distributor, or the Trust's transfer or Shareholder services agentShares, such Shares shall be redeemed at the net asset value per share of the particular appropriate series next determined after such Shares are tendered in proper form order for transfer to the Trust or determined as of such other time fixed by the Trustees, Trustees as may be permitted or required by the 1940 Act, provided that no such tender shall be required in the case of Shares for which a certificate or certificates have not been issued, and in such case such Shares shall be redeemed at the net asset value per share of the particular appropriate series next determined after such demand request has been received or determined at such other time fixed by the Trustees, Trustees as may be permitted or required by the 0000 Xxx. The obligation of the Trust to redeem its Shares of each series or class as set forth above in this Section 2 shall be subject to the condition that, that during any time of emergency, as hereinafter defined, such obligation may be suspended by the Trust by or under authority of the Trustees for such period or periods during such time of emergency as shall be determined by or under authority of the Trustees. If there is such a suspension, any Shareholder may withdraw any demand for redemption and any tender of Shares which has been received by the Trust during any such period and any tender of Shares Shares, the applicable net asset value of which would but for such suspension be calculated as of a time during such period. Upon such withdrawal, the trust Trust shall return to the Shareholder the certificates therefor, if any. For the purposes of any such suspension suspension, "time of emergency" shall mean, either with respect to all Shares or any series of Shares, any period during which:

Redemptions and Repurchases. Section 2. Any holder of Shares of the Trust may by presentation of a written request, together with his certificates, if any, for such Shares, in proper form for transfer, at the office of the Trust, the adviser, the underwriter or the distributors, or at a principal office of a transfer or Shareholder services servicers agent appointed by the Trust (as the Trustees may determine), redeem his Shares for the net asset value thereof determined and computed in accordance with the provisions of this Section 2 and the provisions of Section 5 of Article VI of this Declaration of Trust, less any redemption charge which the Trustees Trustee may establish. Upon receipt of such written request for redemption of Shares by the Trust, the adviser, the underwriter or the distributor, or the Trust's transfer or Shareholder services agent, such Shares shall be redeemed at the net asset value per share of the particular series next determined after such Shares are tendered in proper form for transfer to the Trust or determined as of such other time fixed by the Trustees, Trustees as may be permitted or required by the 1940 Act, provided that no such tender shall be required in the case of Shares for which a certificate or certificates have not been issued, and in such case such Shares shall be redeemed at the net asset value per share of the particular series next determined after such demand has been received or determined at such other time fixed by the Trustees, Trustees as may be permitted or required by the 0000 Xxx. The obligation of the Trust to redeem its Shares of each series as set forth above in this Section 2 shall be subject to the condition that, during any time of emergency, as hereinafter defined, such obligation may be suspended by the Trust by or under authority of the Trustees for such period or periods during such time of emergency as shall be determined by or under authority of the Trustees. If there is such a suspension, any Shareholder may withdraw any demand for redemption and any tender of Shares which has been received by the Trust during any such period and any tender of Shares the applicable net asset value of which would but for such suspension be calculated as of a time during such period. Upon such withdrawal, the trust Trust shall return to the Shareholder the certificates certificate therefor, if any. For the purposes of any such suspension "time of emergency" shall mean, either with respect to all Shares or any series of Shares, any period during which:

Redemptions and Repurchases. Section 2. Any holder of Shares of the Trust may by presentation of a written request, together with his certificates, if any, for such Shares, in proper form for transfer, at the office of the Trust, the adviser, the underwriter or the distributors, or at a principal office of a transfer or Shareholder services servicers agent appointed by the Trust (as the Trustees may determine), redeem his Shares for the net asset value thereof determined and computed in accordance with the provisions of this Section 2 and the provisions of Section 5 of Article VI of this Declaration of Trust, less any redemption charge which the Trustees Trustee may establish. Upon receipt of such written request for redemption of Shares by the Trust, the adviser, the underwriter or the distributor, or the Trust's ’s transfer or Shareholder services agent, such Shares shall be redeemed at the net asset value per share of the particular series next determined after such Shares are tendered in proper form for transfer to the Trust or determined as of such other time fixed by the Trustees, Trustees as may be permitted or required by the 1940 Act, provided that no such tender shall be required in the case of Shares for which a certificate or certificates have not been issued, and in such case such Shares shall be redeemed at the net asset value per share of the particular series next determined after such demand has been received or determined at such other time fixed by the Trustees, Trustees as may be permitted or required by the 0000 Xxx. The obligation of the Trust to redeem its Shares of each series as set forth above in this Section 2 shall be subject to the condition that, during any time of emergency, as hereinafter defined, such obligation may be suspended by the Trust by or under authority of the Trustees for such period or periods during such time of emergency as shall be determined by or under authority of the Trustees. If there is such a suspension, any Shareholder may withdraw any demand for redemption and any tender of Shares which has been received by the Trust during any such period and any tender of Shares the applicable net asset value of which would but for such suspension be calculated as of a time during such period. Upon such withdrawal, the trust Trust shall return to the Shareholder the certificates certificate therefor, if any. For the purposes of any such suspension "“time of emergency" ” shall mean, either with respect to all Shares or any series of Shares, any period during which:

Redemptions and Repurchases. Section 2. Any holder of Shares of the Trust may may, by presentation of a --------- written request, together with his or her certificates, if any, for such Shares, in proper form for transfer, at the office of the Trust, the adviser, the underwriter or the distributors, or at a principal office of a transfer or Shareholder services agent appointed by the Trust (as the Trustees may determine), or in accordance with such other procedures for redemption as the Trustees may from time to time authorize, redeem his or her Shares in accordance with the provisions of this Section 2 for the net asset value thereof determined and computed in accordance with the provisions of this Section 2 and the provisions of Section 5 of Article VI of this Declaration of TrustBy-Laws, less any redemption charge which the Trustees may establishestablish including any contingent deferred sales charge to which redemption of such Shares may be subject. Upon receipt of such written request for redemption of Shares by the Trust, the adviser, the underwriter or the distributor, or the Trust's transfer or Shareholder services agent, the Trust shall purchase such Shares and shall be redeemed at pay therefor the net asset value per share thereof next determined after such receipt or, in the case of Shares for which certificates have been issued, the particular series net asset value thereof next determined after such Shares are tendered in proper form for transfer to the Trust or determined as of such other time fixed by the Trusteesor, as may be permitted or required by the 1940 Actin either case, provided that no such tender shall be required in the case of Shares for which a certificate or certificates have not been issued, and in such case such Shares shall be redeemed at the net asset value per share thereof determined as of the particular series next determined after such demand has been received or determined at such other time fixed by the Trustees, as may be permitted or required by the 0000 Xxx. The obligation of the Trust to redeem its Shares of each series as set forth above in this Section 2 shall be subject to the condition that, during any time of emergency, as hereinafter defined, such obligation may be suspended by the Trust by or under authority of the Trustees for such period or periods during such time of emergency as shall be determined by or under authority of the Trustees. If there is such a suspension, any Shareholder may withdraw any demand for redemption and any tender of Shares which has been received by the Trust during any such period and any tender of Shares the applicable net asset value of which would but for such suspension be calculated as of a time during such period. Upon such withdrawal, the trust Trust shall return to the Shareholder the certificates therefor, if any. Shareholders who do not so withdraw any such demand shall receive payment based on the net asset value next determined after the termination of such suspension. For the purposes of any such suspension "time of emergency" shall mean, either with respect to all Shares or any series of Shares, as appropriate, any period during which:

Redemptions and Repurchases. Section 2. Any holder of Shares of the Trust may may, by presentation of a written requestrequest in proper form, together with his certificates, if any, for such Shares, in proper form for transfer, at transfer to the office Trust or duly authorized agent of the Trust, the adviser, the underwriter or the distributors, or at a principal office request redemption of a transfer or Shareholder services agent appointed by the Trust (as the Trustees may determine), redeem his Shares shares for the net asset value thereof determined and computed in accordance with the provisions of this Section 2 and the provisions of Section 5 of Article VI 6 of this Declaration of Trust, less any redemption charge which the Trustees may establishArticle VI. Upon receipt by the Trust or its duly authorized agent, as the case may be, of such written a request for redemption of Shares by the Trust, the adviser, the underwriter or the distributor, or the Trust's transfer or Shareholder services agentin proper form, such Shares shall be redeemed at the net asset value per share of the particular series or class next determined after such Shares are tendered in proper form for transfer to the Trust request is received or determined as of such other time fixed by the Trustees, as may be permitted or required by the 1940 Act, provided that no such tender shall be required in the case of Shares for which a certificate or certificates have not been issued, and in such case such Shares shall be redeemed at the net asset value per share of the particular series next determined after such demand has been received or determined at such other time fixed by the Trustees, Trustees as may be permitted or required by the 0000 Xxx. The criteria for determining what constitutes a request for redemption in proper form and the time of receipt of such request shall be fixed by the Trustees. The obligation of the Trust to redeem its Shares of each series as set forth above in this Section 2 shall be subject to the condition that, during any time of emergency, as hereinafter defined, that such obligation may be suspended by the Trust by or under authority of the Trustees for such during any period or periods during such time of emergency as shall be determined by or when and to the extent permissible under authority of the Trustees1940 Act. If there is such a suspension, any Shareholder may withdraw any demand request for redemption and any tender of Shares which has been received by the Trust during any such period and any tender of Shares the applicable net asset value of with respect to which would but for such suspension be calculated as of a time during such period. Upon such withdrawal, the trust Trust shall return to the Shareholder the certificates therefor, if any. For The Trust may also purchase, repurchase or redeem Shares in accordance with such other methods, upon such other terms and subject to such other conditions as the purposes Trustee may from time to time authorize at a price not exceeding the net asset value of any such suspension "time of emergency" shall mean, either with respect to all Shares in effect when the purchase or repurchase or any contract to purchase or repurchase is made. Shares redeemed or repurchased by the Trust hereunder shall be canceled upon such redemption or repurchase without further action by the Trust or the Trustees and the number of issued and outstanding Shares of the relevant series of Shares, any period during which:and class shall thereupon be reduced by such amount.

Redemptions and Repurchases. Section 2. Any holder of Shares of the Trust may by be presentation of a written request, together with his or her certificates, if any, for such Shares, in proper form for transfer, at the office of the Trust, the adviser, the underwriter or the distributors, Trust or at a principal office of a transfer or Shareholder services agent appointed by the Trust (as the Trustees may determine)Trust, redeem his or her Shares for the net asset value thereof determined and computed in accordance with the provisions of this Section 2 and the provisions of Section 5 of Article VI 7 of this Declaration of Trust, less any redemption charge which the Trustees may establishArticle VI. Upon receipt by the Trust or its transfer agent of such written request for redemption of Shares by the Trust, the adviser, the underwriter or the distributor, or the Trust's transfer or Shareholder services agentShares, such Shares shall be redeemed at the net asset value per share of the particular appropriate series next determined after such Shares are tendered in proper form order for transfer to the Trust or determined as of such other time fixed by the Trustees, Trustees as may be permitted or required by the 1940 Act, provided that no such tender shall be required in the case of Shares for which a certificate or certificates have not been issued, and in such case such Shares shall be redeemed at the net asset value per share of the particular appropriate series next determined after such demand request has been received or determined at such other time fixed by the Trustees, Trustees as may be permitted or required by the 0000 Xxx1940 Act. The obligation of the obligatxxx xx xhe Trust to redeem its Shares of each series or class as set forth above in this Section 2 shall be subject to the condition that, conditions that during any time of emergency, as hereinafter defined, such obligation may be suspended by the Trust by or under authority of the Trustees for such period or periods during such time of emergency as shall be determined by or under authority of the Trustees. If there is such a suspension, any Shareholder may withdraw any demand for redemption and any tender of Shares which has been received by the Trust during any such period and any tender of Shares Shares, the applicable net asset value of which would but for such suspension be calculated as of a time during such period. Upon such withdrawal, the trust Trust shall return to the Shareholder the certificates therefor, if any. For the purposes of any such suspension suspension, "time of emergency" shall mean, either with respect to all Shares or any series of Shares, any period during which:

Redemptions and Repurchases. Section 2. Any holder of Shares of the Trust may by presentation of a written request, together with his or her certificates, if any, for such Shares, in proper form for transfer, at the office of the Trust, the adviser, the underwriter or the distributors, Trust or at a principal office of a transfer or Shareholder services agent appointed by the Trust (as the Trustees may determine)Trust, redeem his or her Shares for the net asset value thereof determined and computed in accordance with the provisions of this Section 2 and the provisions of Section 5 of Article VI 7 of this Declaration of Trust, less any redemption charge which the Trustees may establishArticle VI. Upon receipt by the Trust or its transfer agent of such written request for redemption of Shares by the Trust, the adviser, the underwriter or the distributor, or the Trust's transfer or Shareholder services agentShares, such Shares shall be redeemed at the net asset value per share of the particular appropriate series next determined after such Shares are tendered in proper form order for transfer to the Trust or determined as of such other time fixed by the Trustees, Trustees as may be permitted or required by the 1940 Act, provided that no such tender shall be required in the case of Shares for which a certificate or certificates have not been issued, and in such case such Shares shall be redeemed at the net asset value per share of the particular appropriate series next determined after such demand request has been received or determined at such other time fixed by the Trustees, Trustees as may be permitted or required by the 0000 Xxx. The obligation of the Trust to redeem its Shares of each series or class as set forth above in this Section 2 shall be subject to the condition that, conditions that during any time of emergency, as hereinafter defined, such obligation may be suspended by the Trust by or under authority of the Trustees for such period or periods during such time of emergency as shall be determined by or under authority of the Trustees. If there is such a suspension, any Shareholder may withdraw any demand for redemption and any tender of Shares which has been received by the Trust during any such period and any tender of Shares Shares, the applicable net asset value of which would but for such suspension be calculated as of a time during such period. Upon such withdrawal, the trust Trust shall return to the Shareholder the certificates therefor, if any. For the purposes of any such suspension "suspension, “time of emergency" ” shall mean, either with respect to all Shares or any series of Shares, any period during which:

Redemptions and Repurchases. Section 2. Any holder of Shares of the Trust may may, by presentation of a --------- written request, together with his or her certificates, if any, for such Shares, in proper form for transfer, at the office of the Trust, the adviser, the underwriter or the distributors, or at a principal office of a transfer or Shareholder services agent appointed by the Trust (as the Trustees may determine), or in accordance with such other procedures for redemption as the Trustees may from time to time authorize, redeem his or her Shares in accordance with the provisions of this Section 2 for the net asset value thereof determined and computed in accordance with the provisions of this Section 2 and the provisions of Section 5 of Article VI of this Declaration of TrustBy-Laws, less any redemption charge which the Trustees may establish, including any contingent deferred sales charge to which redemption of such Shares may be subject. Upon receipt of such written request for redemption of Shares by the Trust, the adviser, the underwriter or the distributor, or the Trust's transfer or Shareholder services agent, the Trust shall purchase such Shares and shall be redeemed at pay therefor the net asset value per share of the particular series thereof next determined after such Shares are tendered in proper form for transfer to receipt or the Trust or net asset value thereof determined as of such other time fixed by the Trustees, as may be permitted or required by the 1940 ActAct in each instance, provided that no such tender shall be required in the case of Shares for which a certificate or certificates have not been issued, and in such case such Shares shall be redeemed at the net asset value per share of the particular series next determined after such demand has been received or determined at such other time fixed by the Trustees, as may be permitted or required by the 0000 Xxxless any applicable redemption charge. The obligation of the Trust to redeem its Shares of each series as set forth above in this Section 2 shall be subject to the condition that, during any time of emergency, as hereinafter defined, such obligation may be suspended by the Trust by or under authority of the Trustees for such period or periods during such time of emergency as shall be determined by or under authority of the Trustees. If there is such a suspension, any Shareholder may withdraw any demand for redemption and any tender of Shares which has been received by the Trust during any such period and any tender of Shares the applicable net asset value of which would but for such suspension be calculated as of a time during such period. Upon such withdrawal, the trust Trust shall return to the Shareholder the certificates therefor, if any. Shareholders who do not so withdraw any such demand shall receive payment based on the net asset value next determined after the termination of such suspension. For the purposes of any such suspension "time of emergency" shall mean, either with respect to all Shares or any series of Shares, as appropriate, any period during which:

Redemptions and Repurchases. Section 2. Any holder of Shares of the Trust may by presentation of a written request, together with his certificates, if any, for such Shares, in proper form for transfer, at the office of the Trust, the adviserAdvisor, the underwriter or the distributors, or at a principal office of a transfer or Shareholder services shareholder service agent appointed by the Trust (as the Trustees may determine), redeem his Shares shares for the net asset value thereof determined and computed in accordance with the provisions of this Section 2 and the provisions of Section 5 of Article VI of this Declaration of Trust, less any redemption charge which the Trustees may establish. Upon receipt of such written request for redemption of Shares by the Trust, the adviserAdvisor, the underwriter or the distributor, or the Trust's ’s transfer or Shareholder services agentagent of such written request for redemption of Shares, such Shares shall be redeemed at the net asset value per share of the particular series next determined after such Shares are tendered in proper form for transfer to the Trust or determined as of such other time fixed by the Trustees, Trustees as may be permitted or required by the 1940 Act, provided that no such tender shall be required in the case of Shares for which a certificate or certificates have not been issued, and in such case such Shares shall be redeemed at the net asset value per share of the particular series next determined after such demand has been received or determined at such other time fixed by the Trustees, Trustees as may be permitted or required by the 0000 Xxx. The obligation of the Trust to redeem its Shares of each series as set forth above in this Section 2 shall be subject to the condition that, conditions that during any time of emergency, as hereinafter defined, such obligation may be suspended by the Trust by or under authority of the Trustees for such period or periods during such time of emergency as shall be determined by or under authority of the Trustees. If there is such a suspension, any Shareholder may withdraw any demand for redemption and any tender of Shares which has been received by the Trust during any such period and any tender of Shares the applicable net asset value of which would but for such suspension be calculated as of a time during such period. Upon such withdrawal, the trust Trust shall return to the Shareholder the certificates therefor, if any. For the purposes of any such suspension "“time of emergency" ” shall mean, either with respect to all Shares or any series of Shares, any period during which:

Redemptions and Repurchases. Section 2. Any holder of Shares of the Trust may by be presentation of a written request, together with his or her certificates, if any, for such Shares, in proper form for transfer, at the office of the Trust, the adviser, the underwriter or the distributors, Trust or at a principal office of a transfer or Shareholder services agent appointed by the Trust (as the Trustees may determine)Trust, redeem his or her Shares for the net asset value thereof determined and computed in accordance with the provisions of this Section 2 and the provisions of Section 5 of Article VI 7 of this Declaration of Trust, less any redemption charge which the Trustees may establishArticle VI. Upon receipt by the Trust or its transfer agent of such written request for redemption of Shares by the Trust, the adviser, the underwriter or the distributor, or the Trust's transfer or Shareholder services agentShares, such Shares shall be redeemed at the net asset value per share of the particular appropriate series next determined after such Shares are tendered in proper form order for transfer to the Trust or determined as of such other time fixed by the Trustees, Trustees as may be permitted or required by the 1940 Act, provided that no such tender shall be required in the case of Shares for which a certificate or certificates have not been issued, and in such case such Shares shall be redeemed at the net asset value per share of the particular appropriate series next determined after such demand request has been received or determined at such other time fixed by the Trustees, Trustees as may be permitted or required by the 0000 Xxx. The obligation of the Trust to redeem its Shares of each series or class as set forth above in this Section 2 shall be subject to the condition that, conditions that during any time of emergency, as hereinafter defined, such obligation may be suspended by the Trust by or under authority of the Trustees for such period or periods during such time of emergency as shall be determined by or under authority of the Trustees. If there is such a suspension, any Shareholder may withdraw any demand for redemption and any tender of Shares which has been received by the Trust during any such period and any tender of Shares Shares, the applicable net asset value of which would but for such suspension be calculated as of a time during such period. Upon such withdrawal, the trust Trust shall return to the Shareholder the certificates therefor, if any. For the purposes of any such suspension suspension, "time of emergency" shall mean, either with respect to all Shares or any series of Shares, any period during which:

Redemptions and Repurchases. Section SECTION 2. Any holder of Shares of the Trust may by presentation of a written request, together with his certificates, if any, for such Shares, in proper form for transfer, at the office of the Trust, the adviser, the underwriter or the distributors, or at a principal office of a transfer or Shareholder services agent appointed by the Trust (as the Trustees may determine), redeem his Shares for the net asset value thereof determined and computed in accordance with the provisions of this Section 2 and the provisions of Section 5 of Article VI of this Declaration of Trust, less any redemption charge which the Trustees may establish. Upon receipt of such written request for redemption of Shares by the Trust, the adviser, the underwriter or the distributor, or the Trust's transfer or Shareholder services agent, such Shares shall be redeemed at the net asset value per share of the particular series next determined after such Shares are tendered in proper form for transfer to the Trust or determined as of such other time fixed by the Trustees, as may be permitted or required by the 1940 Act, provided that no such tender shall be required in the case of Shares for which a certificate or certificates have not been issued, and in such case such Shares shall be redeemed at the net asset value per share of the particular series next determined after such demand has been received or determined at such other time fixed by the Trustees, as may be permitted or required by the 0000 Xxx. The obligation of the Trust to redeem its Shares of each series as set forth above in this Section 2 shall be subject to the condition that, during any time of emergency, as hereinafter defined, such obligation may be suspended by the Trust by or under authority of the Trustees for such period or periods during such time of emergency as shall be determined by or under authority of the Trustees. If there is such a suspension, any Shareholder may withdraw any demand for redemption and any tender of Shares which has been received by the Trust during any such period and any tender of Shares the applicable net asset value of which would but for such suspension be calculated as of a time during such period. Upon such withdrawal, the trust shall return to the Shareholder the certificates therefor, if any. For the purposes of any such suspension "time of emergency" shall mean, either with respect to all Shares or any series of Shares, any period during which:

Redemptions and Repurchases. Section SECTION 2. Any holder of Shares of the Trust may may, by presentation of a written request, together with his or her certificates, if any, for such Shares, in proper form for transfer, at the office of the Trust, the adviser, the underwriter or the distributors, or at a principal office of a transfer or Shareholder services agent appointed by the Trust (as the Trustees may determine), or in accordance with such other procedures for redemption as the Trustees may from time to time authorize, redeem his or her Shares in accordance with the provisions of this Section 2 for the net asset value thereof determined and computed in accordance with the provisions of this Section 2 and the provisions of Section 5 of Article VI of this Declaration of TrustBy-Laws, less any redemption charge which the Trustees may establish, including any contingent deferred sales charge to which redemption of such Shares may be subject. Upon receipt of such written request for redemption of Shares by the Trust, the adviser, the underwriter or the distributor, or the Trust's transfer or Shareholder services agent, the Trust shall purchase such Shares and shall be redeemed at pay therefor the net asset value per share of the particular series thereof next determined after such Shares are tendered in proper form for transfer to the Trust receipt or determined as of such other time fixed by the Trustees, as may be permitted or required by the 1940 Act, provided that no such tender shall be required in the case of Shares for which a certificate or certificates have not been issued, and in such case such Shares shall be redeemed at the net asset value per share thereof determined as of the particular series next determined after such demand has been received or determined at such other time fixed by the Trustees, as may be permitted or required by the 0000 Xxx. The obligation of the Trust to redeem its Shares of each series as set forth above in this Section 2 shall be subject to the condition that, during any time of emergency, as hereinafter defined, such obligation may be suspended by the Trust by or under authority of the Trustees for such period or periods during such time of emergency as shall be determined by or under authority of the Trustees. If there is such a suspension, any Shareholder may withdraw any demand for redemption and any tender of Shares which has been received by the Trust during any such period and any tender of Shares the applicable net asset value of which would but for such suspension be calculated as of a time during such period. Upon such withdrawal, the trust Trust shall return to the Shareholder the certificates therefor, if any. Shareholders who do not so withdraw any such demand shall receive payment based on the net asset value next determined after the termination of such suspension. For the purposes of any such suspension "time of emergency" shall mean, either with respect to all Shares or any series of Shares, as appropriate, any period during which:

Redemptions and Repurchases. Section 2. Any holder of Shares of the Trust may may, by presentation of a written requestrequest in proper form, together with his certificates, if any, for such Shares, in proper form for transfer, at transfer to the office Trust or duly authorized agent of the Trust, the adviser, the underwriter or the distributors, or at a principal office request redemption of a transfer or Shareholder services agent appointed by the Trust (as the Trustees may determine), redeem his Shares shares for the net asset value thereof determined and computed in accordance with the provisions of this Section 2 and the provisions of Section 5 of Article VI 6 of this Declaration of Trust, less any redemption charge which the Trustees may establishArticle VI. Upon receipt by the Trust or its duly authorized agent, as the case may be, of such written a request for redemption of Shares by the Trust, the adviser, the underwriter or the distributor, or the Trust's transfer or Shareholder services agentin proper form, such Shares shall be redeemed at the net asset value per share of the particular series or class next determined after such Shares are tendered in proper form for transfer to the Trust request is received or determined as of such other time fixed by the Trustees, as may be permitted or required by the 1940 Act, provided that no such tender shall be required in the case of Shares for which a certificate or certificates have not been issued, and in such case such Shares shall be redeemed at the net asset value per share of the particular series next determined after such demand has been received or determined at such other time fixed by the Trustees, Trustees as may be permitted or required by the 0000 Xxx. The criteria for determining what constitutes a request for redemption in proper form and the time of receipt of such request shall be fixed by the Trustees. The obligation of the Trust to redeem its Shares of each series as set forth above in this Section 2 shall be subject to the condition that, during any time of emergency, as hereinafter defined, that such obligation may be suspended by the Trust by or under authority of the Trustees for such during any period or periods during such time of emergency as shall be determined by or when and to the extent permissible under authority of the Trustees1940 Act. If there is such a suspension, any Shareholder may withdraw any demand request for redemption and any tender of Shares which has been received by the Trust during any such period and any tender of Shares the applicable net asset value of with respect to which would but for such suspension be calculated as of a time during such period. Upon such withdrawal, the trust Trust shall return to the Shareholder the certificates therefor, if any. For The Trust may also purchase, repurchase or redeem Shares in accordance with such other methods, upon such other terms and subject to such other conditions as the purposes Trustee may from time to time authorize at a price not exceeding the net asset value of any such suspension "time of emergency" shall mean, either with respect to all Shares in effect when the purchase or repurchase or any contract to purchase or repurchase is made. Shares redeemed or repurchased by the Trust hereunder shall be cancelled upon such redemption or repurchase without further action by the Trust or the Trustees and the number of issued and outstanding Shares of the relevant series of Shares, any period during which:and class shall thereupon be reduced by such amount.

Redemptions and Repurchases. Section 2. Any holder of Shares of the Trust may may, upon presentation at the office of the Trust or at a principal office of a transfer agent appointed by presentation the Trust of a written request, together with his or her certificates, if any, for such Shares, Shares in proper form for transfer, at the office of the Trust, the adviser, the underwriter or the distributors, or at a principal office of a transfer or Shareholder services agent appointed by the Trust (as the Trustees may determine), redeem his or her Shares for the net asset value thereof determined and computed in accordance with the provisions of this Section 2 and the provisions of Section 5 of Article VI 7 of this Declaration Article VI. Subject to the last paragraph of Trustthis Section 2, less any redemption charge which upon receipt by the Trustees may establish. Upon receipt Trust or its transfer agent of such written request for redemption of Shares by the Trust, the adviser, the underwriter or the distributor, or the Trust's transfer or Shareholder services agentShares, such Shares shall be redeemed at the net asset value per share of the particular appropriate series next determined after such Shares are tendered in proper form order for transfer to the Trust or determined as of such other time fixed by the Trustees, Trustees as may be permitted or required by the 1940 Act, provided that no such tender shall be required in the case of Shares for which a certificate or certificates have not been issued, and in such case such Shares shall be redeemed at the net asset value per share of the particular appropriate series next determined after such demand request has been received or determined at such other time fixed by the Trustees, Trustees as may be permitted or required by the 0000 Xxx. The obligation of the Trust to redeem its Shares of each series or class as set forth above in this Section 2 shall be subject to the condition that, conditions that during any time of emergency, as hereinafter defined, such obligation may be suspended by the Trust by or under authority of the Trustees for such period or periods during such time of emergency as shall be determined by or under authority of the Trustees. If there is such a suspension, any Shareholder may withdraw any demand for redemption and any tender of Shares which has been received by the Trust during any such period and any tender of Shares Shares, the applicable net asset value of which would but for such suspension be calculated as of a time during such period. Upon such withdrawal, the trust Trust shall return to the Shareholder the certificates therefor, if any. For the purposes of any such suspension suspension, "time of emergency" shall mean, either with respect to all Shares or any series of Shares, any period during which:

Redemptions and Repurchases. Section SECTION 2. Any holder of Shares of the Trust may may, by presentation of a written request, together with his certificates, if any, for such Shares, in proper form for transfer, at the office of the Trust, the adviser, the underwriter or the distributors, or at a principal office of a transfer or Shareholder services agent appointed by the Trust (as the Trustees may determine), redeem his Shares for the net asset value thereof determined and computed in accordance with the provisions of this Section 2 and the provisions of Section 5 of Article VI of this Declaration of Trust2, less any redemption charge which the Trustees may establish. Upon receipt of such written request for redemption of Shares by the Trust, the adviser, the underwriter or the distributor, or the Trust's transfer or Shareholder services agent, such Shares shall be redeemed at the net asset value per share of the particular series next determined after such Shares are tendered in proper form for transfer to the Trust or determined as of such other time fixed by the Trustees, as may be permitted or required by the 1940 Act, provided that no such tender shall be required in the case of Shares for which a certificate or certificates have not been issued, and in such case such Shares shall be redeemed at the net asset value per share of the particular series next determined after such demand has been received or determined at such other time fixed by the Trustees, as may be permitted determined or required by the 0000 Xxx1940 Act. The obligation of the xx xxx Trust to redeem its Shares of each series as set forth above in this Section 2 shall be subject to the condition that, during any time of emergency, as hereinafter defined, such obligation may be suspended by the Trust by or under authority of the Trustees for such period or periods during such time of emergency as shall be determined by or under authority of the Trustees. If there is such a suspension, any Shareholder may withdraw any demand for redemption and any tender of Shares which has been received by the Trust during any such period and any tender of Shares the applicable net asset value of which would but for such suspension be calculated as of a time during such period. Upon such withdrawal, the trust Trust shall return to the Shareholder the certificates therefor, if any. For the purposes of any such suspension "time of emergency" shall mean, either with respect to all Shares or any series of Shares, any period during which:

Redemptions and Repurchases. Section SECTION 2. Any holder of Shares of the Trust may by presentation of a written request, together with his certificates, if any, for such Shares, in proper form for transfer, at the office of the Trust, the adviserAdvisor, the underwriter or the distributors, or at a principal office of a transfer or Shareholder services agent appointed by the Trust (as the Trustees may determine), redeem his Shares for the net asset value thereof determined and computed in accordance with the provisions of this Section 2 and the provisions of Section 5 of Article VI of this Declaration of Trust, less any redemption charge which the Trustees may establish. Upon receipt of such written request for redemption of Shares by the Trust, the adviserAdvisor, the underwriter or the distributor, or the Trust's transfer or Shareholder services agentagent of such written request for redemption of Shares, such Shares shall be redeemed at the net asset value per share of the particular series next determined after such Shares are tendered in proper form for transfer to the Trust or determined as of such other time fixed by the Trustees, Trustees as may be permitted or required by the 1940 Act, provided that no such tender shall be required in the case of Shares for which a certificate or certificates have not been issued, and in such case such Shares shall be redeemed at the net asset value per share of the particular series next determined after such demand has been received or determined at such other time fixed by the Trustees, Trustees as may be permitted or required by the 0000 Xxx. The obligation of the Trust to redeem its Shares of each series as set forth above in this Section 2 shall be subject to the condition that, conditions that during any time of emergency, as hereinafter defined, such obligation may be suspended by the Trust by or under authority of the Trustees for such period or periods during such time of emergency as shall be determined by or under authority of the Trustees. If there is such a suspension, any Shareholder may withdraw any demand for redemption and any tender of Shares which has been received by the Trust during any such period and any tender of Shares the applicable net asset value of which would but for such suspension be calculated as of a time during such period. Upon such withdrawal, the trust Trust shall return to the Shareholder the certificates therefor, if any. For the purposes of any such suspension "time of emergency" shall mean, either with respect to all Shares or any series of Shares, any period during which:

Redemptions and Repurchases. Section SECTION 2. Any holder of Shares of the Trust may by be presentation of a written request, together with his certificates, if any, for such Shares, in proper form for transfer, at the office of the Trust, the adviserAdvisor, the underwriter or the distributors, or at a principal office of a transfer or Shareholder services shareholder service agent appointed by the Trust (as the Trustees may determine), redeem his Shares shares for the net asset value thereof determined and computed in accordance with the provisions of this Section 2 and the provisions of Section 5 of Article VI of this Declaration of Trust, less any redemption charge which the Trustees may establish. Upon receipt of such written request for redemption of Shares by the Trust, the adviserAdvisor, the underwriter or the distributor, or the Trust's transfer or Shareholder services agentagent of such written request for redemption of Shares, such Shares shall be redeemed at the net asset value per share of the particular series next determined after such Shares are tendered in proper form for transfer to the Trust or determined as of such other time fixed by the Trustees, Trustees as may be permitted or required by the 1940 Act, provided that no such tender shall be required in the case of Shares for which a certificate or certificates have not been issued, and in such case such Shares shall be redeemed at the net asset value per share of the particular series next determined after such demand has been received or determined at such other time fixed by the Trustees, Trustees as may be permitted or required by the 0000 Xxx. The obligation of the Trust to redeem its Shares of each series as set forth above in this Section 2 shall be subject to the condition that, conditions that during any time of emergency, as hereinafter defined, such obligation may be suspended by the Trust by or under authority of the Trustees for such period or periods during such time of emergency as shall be determined by or under authority of the Trustees. If there is such a suspension, any Shareholder may withdraw any demand for redemption and any tender of Shares which has been received by the Trust during any such period and any tender of Shares the applicable net asset value of which would but for such suspension be calculated as of a time during such period. Upon such withdrawal, the trust Trust shall return to the Shareholder the certificates therefor, if any. For the purposes of any such suspension "time of emergency" shall mean, either with respect to all Shares or any series of Shares, any period during which:

Redemptions and Repurchases. Section 2. Any holder of Shares of the Trust may by presentation of a written request, together with his or her certificates, if any, for such Shares, in proper form for transfer, at the office of the Trust, the adviser, the underwriter or the distributors, Trust or at a principal office of a transfer or Shareholder services agent appointed by the Trust (as the Trustees may determine)Trust, redeem his or her Shares for the net asset value thereof determined and computed in accordance with the provisions of this Section 2 and the provisions of Section 5 of Article VI 7 of this Declaration of Trust, less any redemption charge which the Trustees may establishArticle VI. Upon receipt by the Trust or its transfer agent of such written request for redemption of Shares by the Trust, the adviser, the underwriter or the distributor, or the Trust's transfer or Shareholder services agentShares, such Shares shall be redeemed at the net asset value per share of the particular appropriate series next determined after such Shares are tendered in proper form order for transfer to the Trust or determined as of such other time fixed by the Trustees, Trustees as may be permitted or required by the 1940 Act, provided that no such tender shall be required in the case of Shares for which a certificate or certificates have not been issued, and in such case such Shares shall be redeemed at the net asset value per share of the particular appropriate series next determined after such demand request has been received in proper form or determined at such other time fixed by the Trustees, Trustees as may be permitted or required by the 0000 Xxx. The obligation of the Trust to redeem its Shares of each series or class as set forth above in this Section 2 shall be subject to the condition that, conditions that during any time of emergency, as hereinafter defined, such obligation may be suspended by the Trust by or under authority of the Trustees for such period or periods during such time of emergency as shall be determined by or under authority of the Trustees. If there is such a suspension, any Shareholder may withdraw any demand for redemption and any tender of Shares which has been received by the Trust during any such period and any tender of Shares Shares, the applicable net asset value of which would but for such suspension be calculated as of a time during such period. Upon such withdrawal, the trust Trust shall return to the Shareholder the certificates therefor, if any. For the purposes of any such suspension suspension, "time of emergency" shall mean, either with respect to all Shares or any series of Shares, any period during which:

Redemptions and Repurchases. Section 2. Any holder of Shares of the Trust may may, by presentation of a written request, together with his or her certificates, if any, for such Shares, in proper form for transfer, at the office of the Trust, the adviser, the underwriter or the distributors, or at a principal office of a transfer or Shareholder shareholder services agent appointed by the Trust (as the Trustees may determine), or in accordance with such other procedures for redemption as the Trustees may from time to time authorize, redeem his or her Shares in accordance with the provisions of this Section 2 for the net asset value thereof determined and computed in accordance with the provisions of this Section 2 and the provisions of Section 5 of Article VI of this Declaration of TrustBy-Laws, less any redemption charge which the Trustees may establish, including any contingent deferred sales charge to which redemption of such Shares may be subject. Upon receipt of such written request for redemption of Shares by the Trust, the adviser, the underwriter or the distributor, or the Trust's transfer or Shareholder shareholder services agent, the Trust shall purchase such Shares and shall be redeemed at pay therefor the net asset value per share of the particular series thereof next determined after such Shares are tendered in proper form for transfer to receipt or the Trust or net asset value thereof determined as of such other time fixed by the Trustees, as may be permitted or required by the 1940 ActAct in each instance, provided that no such tender shall be required in the case of Shares for which a certificate or certificates have not been issued, and in such case such Shares shall be redeemed at the net asset value per share of the particular series next determined after such demand has been received or determined at such other time fixed by the Trustees, as may be permitted or required by the 0000 Xxxless any applicable redemption charge. The obligation of the Trust to redeem its Shares of each series as set forth above in this Section 2 shall be subject to the condition that, during any time of emergency, as hereinafter defined, such obligation may be suspended by the Trust by or under authority of the Trustees for such period or periods during such time of emergency as shall be determined by or under authority of the Trustees. If there is such a suspension, any Shareholder may withdraw any demand for redemption and any tender of Shares which has been received by the Trust during any such period and any tender of Shares the applicable net asset value of which would but for such suspension be calculated as of a time during such period. Upon such withdrawal, the trust Trust shall return to the Shareholder the certificates therefor, if any. Shareholders who do not so withdraw any such demand shall receive payment based on the net asset value next determined after the termination of such suspension. For the purposes of any such suspension "time of emergency" shall mean, either with respect to all Shares or any series of Shares, as appropriate, any period during which:

Redemptions and Repurchases. Section 2. Any holder of Shares of the Trust may by presentation of a written request, together with his certificates, if any, for such Shares, in proper form for transfer, at the office of the Trust, the adviser, the underwriter or the distributors, Trust or at a principal office of a transfer or Shareholder services agent appointed by the Trust (as the Trustees may determine)Trust, redeem his Shares for the net asset value thereof determined and computed in accordance with the provisions of this Section 2 and the provisions of Section 5 7 of Article VI of this Declaration of Trust, less any redemption charge which the Trustees may establish. Upon receipt by the Trust or its transfer agent of such written request for redemption of Shares by the Trust, the adviser, the underwriter or the distributor, or the Trust's transfer or Shareholder services agentShares, such Shares shall be redeemed at the net asset value per share of the particular appropriate series or class of Shares, if applicable, next determined after such Shares are tendered in proper form order for transfer to the Trust or determined as of such other time fixed by the Trustees, Trustees as may be permitted or required by the 1940 Act, provided that no such tender shall be required in the case of Shares for which a certificate or certificates have not been issued, and in such case such Shares shall be redeemed at the net asset value per share of the particular appropriate series or class of shares, if applicable, next determined after such demand has been received or determined at such other time fixed by the Trustees, Trustees as may be permitted or required by the 0000 Xxx1940 Act. 10 The obligation of the Trust to redeem its Shares of each series shares as set forth above in this Section 2 shall be subject to the condition that, conditions that during any time of emergency, as hereinafter defined, such obligation may be suspended by the Trust by or under authority of the Trustees for such period or periods during such time of emergency as shall be determined by or under authority of the Trustees. If there is such a suspension, any Shareholder may withdraw any demand for redemption and any tender of Shares which has been received by the Trust during any such period and any tender of Shares Shares, the applicable net asset value of which would but for such suspension be calculated as of a time during such period. Upon such withdrawal, the trust Trust shall return to the Shareholder the certificates therefortherefore, if any. For the purposes of any such suspension suspension, "time of emergency" shall mean, either with respect to all Shares or any series or class of Shares, any period during which: