Common use of Distribution Plan Clause in Contracts

Distribution Plan. A. The provisions set forth in this paragraph 8 (hereinafter referred to as the "Plan") have been adopted pursuant to Rule 12b-1 under the Act by the Trust, having been approved by a majority of the Trust's Board of Trustees, including a majority of the Trustees who are not interested persons of the Trust and who have no direct or indirect financial interest in the operation of the Plan (the "non-interested Trustees"), cast in person at a meeting called for the purpose of voting on such Plan. The Board of Trustees concluded that the rate of compensation to be paid to the Manager by the Fund was fair and not excessive, but that due solely to the uncertainty that may exist from time to time with respect to whether payments made by the Fund to the Manager or to other firms may nevertheless be deemed to constitute distribution expenses, it was determined that adoption of the Plan would be prudent and in the best interests of the Fund. The Trustees' approval included a determination that in the exercise of their reasonable business judgment and in light of their fiduciary duties, there is a reasonable likelihood that the Plan will benefit the Fund and its shareholders or policyholders investing in the Fund.

Distribution Plan. A. The provisions set forth in this paragraph 8 (hereinafter referred to as the "Plan") have been adopted pursuant to Rule 12b-1 under the Act by the Trust, having been approved by a majority of the Trust's Board of Trustees, including a majority of the Trustees who are not interested persons of the Trust and who have no direct or indirect financial interest in the operation of the Plan (the "non-interested Trustees"), cast in person at a meeting called for the purpose of voting on such Plan. The Board of Trustees concluded that the rate of compensation to be paid to the Manager by the each Fund was fair and not excessive, but that due solely to the uncertainty that may exist from time to time with respect to whether payments made by the Fund to the Manager or to other firms may nevertheless be deemed to constitute distribution expenses, it was determined that adoption of the Plan would be prudent and in the best interests of the Fund. The Trustees' approval included a determination that in the exercise of their reasonable business judgment and in light of their fiduciary duties, there is a reasonable likelihood that the Plan will benefit the each Fund and its shareholders or policyholders investing in the Fund.

Distribution Plan. A. The provisions set forth in this paragraph 8 (hereinafter referred to as the "Plan") have been adopted pursuant to Rule 12b-1 under the Act by the Trust, having been approved by a majority of the Trust's Board of Trustees, including a majority of the Trustees who are not interested persons of the Trust and who have no direct or indirect financial interest in the operation of the Plan (the "non-interested Trustees"), cast in person at a meeting called for the purpose of voting on such Plan. The Board of Trustees concluded that the rate of compensation to be paid to the Manager Adviser by the Fund was fair and not excessive, but that due solely to the uncertainty that may exist from time to time with respect to whether payments made by the Fund to the Manager Adviser or to other firms may nevertheless be deemed to constitute distribution expenses, it was determined that adoption of the Plan would be prudent and in the best interests of the Fund. The Trustees' approval included a determination that in the exercise of their reasonable business judgment and in light of their fiduciary duties, there is a reasonable likelihood that the Plan will benefit the Fund and its shareholders or policyholders investing in the Fund.

Distribution Plan. A. The provisions set forth in this paragraph 8 (hereinafter referred to as the "Plan") have been adopted pursuant to Rule 12b-1 under the Investment Company Act of 1940 (the "Act") by the TrustFund, having been approved by a majority of the TrustFund's Board of TrusteesDirectors, including a majority of the Trustees Directors who are not interested persons of the Trust Fund and who have no direct or indirect financial interest in the operation of the Plan (the "non-interested Trusteesdirectors"), cast in person at a meeting called for the purpose of voting on such Plan. The Board of Trustees Directors concluded that the rate of existing compensation to be paid to the Manager by the Fund was fair and not excessive, but and that due solely to the uncertainty that may exist from time to time with respect to whether payments made by the Fund to the Manager or to other firms may nevertheless be deemed to constitute distribution expenses, it was determined that adoption of the Plan would be prudent and in the best interests of the FundFund and its shareholders. The Trusteesdirectors' approval included a determination that in the exercise of their reasonable business judgment and in light of their fiduciary duties, there is a reasonable likelihood that the Plan will benefit the Fund and its shareholders or policyholders investing in shareholders. The Plan has also been approved by a vote of at least a majority of the Fund's outstanding voting securities.