Trust Only. It is the intention of the Trustees and the Shareholders to create only a statutory trust pursuant to the Delaware Statutory Trust Act. It is not the intention of the Trustees to create a general partnership, limited partnership, limited liability company, joint stock association, corporation, bailment or any form of legal relationship other than a Delaware statutory trust. Nothing in this Declaration shall be construed to make the Shareholders, either by themselves or with the Trustees, partners or members of a joint stock association. Notwithstanding the foregoing provisions of this Section 6.4, it is the intention of the Trustees and the Shareholders that the Trust be taxed as a “partnership” for U.S. federal and, where applicable, state, local and foreign income tax purposes.
Appears in 4 contracts
Samples: Agreement and Declaration of Trust (Paramount Access Fund), Agreement and Declaration of Trust (Paramount Institutional Access Fund), Agreement and Declaration of Trust (Paramount Institutional Access Fund)
