Common use of Investment in the Trust Clause in Contracts

Investment in the Trust. The Trustees shall accept investments in any Series of the Trust from such Persons and on such terms as they may from time to time authorize. At the Trustees’ sole discretion, such investments, subject to applicable law, may be in the form of cash or securities (or any combination thereof) in which the affected Series is authorized to invest, valued as provided in Article IX, Section 9.3 hereof. Investments in a Series shall be credited to each Shareholder’s account in the form of full or fractional Shares at the Net Asset Value per Share next determined after the investment is received; provided, however, that the Trustees may, in their sole discretion, (a) fix the Net Asset Value per Share of the initial capital contribution and/or (b) impose a sales charge, transaction fee or any other legally permissible fee or charge upon investments in the Trust in such manner and at such time as determined by the Trustees. The Trustees shall have the right to refuse to accept investments in any Series at any time without any cause or reason therefor whatsoever.

Investment in the Trust. The Trustees shall accept investments in any Series of the Trust from such Persons persons and on such terms as they may from time to time authorize. At the Trustees’ sole ' discretion, such investments, subject to applicable law, may be in the form of cash or securities (or any combination thereof) in which the affected Series is authorized to invest, valued as provided in Article IX, IX Section 9.3 9.03 hereof. Investments in a Series shall be credited to each Shareholder’s 's account in the form of full or and fractional Shares at the Net Asset Value net asset value per Share next determined after the investment is receivedreceived or accepted as may be determined by the Trustees; provided, however, that the Trustees may, in their sole discretion, (a) fix the Net Asset Value per Share of the minimum amounts for initial capital contribution and/or and subsequent investments or (b) impose a sales charge, transaction fee or any other legally permissible fee or charge upon investments in the Trust in such manner and at such time as determined by the Trustees. The Trustees shall have the right to refuse to accept investments in any Series at any time without any cause or reason therefor whatsoever.

Investment in the Trust. The Trustees shall accept investments in any Series of the Trust from such Persons persons and on such terms as they may from time to time authorize. At the Trustees’ sole ' discretion, such investments, subject to applicable law, may be in the form of cash or securities (or any combination thereof) in which the affected Series is authorized to invest, valued as provided in Article IX, Section 9.3 9.03 hereof. Investments in a Series shall be credited to each Shareholder’s 's account in the form of full or fractional Shares at the Net Asset Value per Share next determined after the investment is receivedreceived or accepted as may be determined by the Trustees; provided, however, that the Trustees may, in their sole discretion, (a) fix the Net Asset Value per Share of the initial capital contribution and/or contribution, (b) impose a sales charge, transaction fee or any other legally permissible fee or charge upon investments in the Trust in such manner and at such time as determined by the Trustees. The Trustees shall have the right to refuse to accept investments in any Series at any time without any cause , or reason therefor whatsoever(c) issue fractional Shares.

Investment in the Trust. The Trustees shall accept investments in any Series of the Trust from such Persons and on such terms as they may from time to time authorize. At In the Trustees’ sole discretion, such investments, subject to applicable law, may be in the form of cash or securities (or any combination thereof) in which the affected Series is authorized to invest, valued as provided in Article IX, Section 9.3 hereof. Investments in a Series shall be credited to each Shareholder’s account in the form of full or fractional Shares at the Net Asset Value per Share next determined after the investment is received; provided, however, that the Trustees may, in their sole discretion, (a) fix the Net Asset Value per Share of the initial capital contribution and/or (b) impose a sales charge, transaction fee or any other legally permissible fee or charge upon investments in the Trust in such manner and at such time as determined by the Trustees. The Trustees shall have the right to refuse to accept investments in any Series at any time without any cause or reason therefor whatsoever.