Common use of Statutory Trust Clause in Contracts

Statutory Trust. The name “PNC Advantage Funds” and of any series thereof, and any reference to the “Trustees” of PNC Advantage Funds, refer respectively to the trust created and the Trustees, as trustees but not individually or personally, acting from time to time under the Agreement and Declaration of Trust which is hereby referred to and a copy of which is on file at the office of the State Secretary of the State of Delaware and at the principal office of the Fund. The obligations of the Fund entered into in its name (or in the name of one of its series) or on behalf thereof by any of its Trustees, representatives or agents, are made not individually, but in such capacities, and are not binding upon any of the Trustees, shareholders or representatives of the Fund personally, but bind only the Fund property, and all persons dealing with any class of shares of the Fund must look solely to the Fund property belonging to such class for the enforcement of any claims against the Fund.

Statutory Trust. The name “PNC Advantage Funds” and of any series thereof, and any reference to the “Trustees” of PNC Advantage Funds, refer respectively to the trust created and the Trustees, as trustees but not individually or personally, acting from time to time under the Agreement and Declaration of Trust which is hereby referred to and a copy of which is on file at the office of the State Secretary of the State of Delaware and at the principal office of the Fund. The obligations of the Fund entered into in its name (or in the name of one of its series) or on behalf thereof by any of its Trustees, representatives or agents, are made not individually, but in such capacities, and are not binding upon any of the Trustees, shareholders or representatives of the Fund personally, but bind only the Fund property, and all persons dealing with any class of shares of the Fund must look solely to the Fund property belonging to such class for the enforcement of any claims against the Fund.