Common use of AUTHORIZATION AND ISSUANCE OF SHARES Clause in Contracts

AUTHORIZATION AND ISSUANCE OF SHARES. 1. Unless the Trust has authorized an unlimited number of Shares, the Trust shall deliver to the Transfer Agent the following documents on or before the effective date of any increase or decrease in the total number of Shares authorized to be issued: (a) A certified copy of any amendment to the Declaration giving effect to such increase or decrease; (b) In the case of an increase, an opinion of counsel for the Trust with respect to the validity of the Shares of the Trust and the status of such Shares under the Securities Act of 1933, as amended, and any other applicable federal law or regulation (i.e., if subject to registration, that they have been registered and that the Registration Statement has become effective or, if exempt, the specific grounds therefor); and (c) In the case of an increase, if the appointment of the Transfer Agent was theretofore expressly limited, a certified copy of a resolution of the Board of Trustees of the Trust increasing the authority of the Transfer Agent. 2. Unless the Trust has authorized an unlimited number of Shares, prior to the issuance of any additional Shares of the Trust pursuant to share dividends or share splits, etc., and prior to any reduction in the number of shares outstanding, the Trust shall deliver the following documents to the Transfer Agent: (a) A certified copy of the resolution(s) adopted by the Board of Trustees and/or the shareholders of the Trust authorizing such issuance of additional Shares of the Trust or such reduction, as the case may be, and (b) An opinion of counsel for the Trust with respect to the validity of the Shares of the Trust and the status of such Shares under the Securities Act of 1933, as amended, and any other applicable federal law or regulation (i.e., if subject to registration, that they have been registered and that the Registration Statement has become effective, or, if exempt, the specific grounds therefor).

AUTHORIZATION AND ISSUANCE OF SHARES. 1. Unless the Trust has authorized an unlimited number of Shares, the Trust The Fund shall deliver to the Transfer Agent the following documents on or before the effective date of any increase or decrease in the total number of Shares authorized to be issued: (a) A certified copy of any a resolution of the Fund's Board authorizing the amendment to the Declaration Articles of Incorporation giving effect to such increase or decrease; (b) In the case of an increase, an opinion of counsel for the Trust Fund with respect to the validity of the increased number of Shares of the Trust and the status of such Shares under the Securities Act of 1933, as amended, and any other applicable federal law or regulation (i.e., if subject to registration, that they have been registered and that the Registration Statement has become effective or, if exempt, the specific grounds therefor); and (c) In the case of an increase, if the appointment of the Transfer Agent was theretofore expressly limited, a certified copy of a resolution of the Fund's Board of Trustees of the Trust increasing the authority of the Transfer Agent. 2. Unless the Trust has authorized an unlimited number of Shares, prior Prior to the issuance of any additional Shares of the Trust Fund pursuant to share stock dividends or share stock splits, etc., and prior to any reduction in the number of shares Shares outstanding, the Trust Fund shall deliver the following documents to the Transfer Agent: (a) A Board certified copy of the resolution(s) adopted by the Board of Trustees Fund and/or the shareholders of the Trust Fund authorizing such issuance of additional Shares of the Trust Fund or such reduction, as the case may be, ; and (b) An opinion of counsel for the Trust Fund with respect to the validity of the additional Shares of the Trust Fund and the status of such Shares under the Securities Act of 1933, as amended, and any other applicable federal law or regulation (i.e., if subject to registration, that they have been registered and that the Registration Statement has become effective, or, if exempt, the specific grounds therefor).

AUTHORIZATION AND ISSUANCE OF SHARES. 1. Unless If requested by the Trust has authorized an unlimited number of SharesTransfer Agent, the Trust shall deliver to the Transfer Agent the following documents on or before the effective date of any increase or decrease in the total number of Shares authorized to be issued: (a) A certified copy of any the amendment to the Declaration of Trust giving effect to such increase or decrease; (b) In the case of an increase, an opinion of counsel for the Trust with respect to the validity of the Shares of the Trust Fund and the status of such Shares under the Securities Act of 1933, as amended, and any other applicable federal law or regulation (i.e., if subject to registration, that they have been registered and that the Registration Statement registration statement has become effective or, if exempt, the specific grounds therefor); and (c) In the case of an increase, if the appointment of the Transfer Agent was theretofore expressly limited, a certified copy of a resolution of the Board of Trustees of the Trust increasing the authority of the Transfer Agent. 2. Unless the Trust has authorized an unlimited number of Shares, prior Prior to the issuance of any additional Shares of the Trust pursuant to share stock dividends or share stock splits, etc., and prior to any reduction in the number of shares Shares outstanding, if requested by the Transfer Agent, the Trust shall deliver the following documents to the Transfer Agent: (a) A certified copy of the resolution(s) adopted by the Board of Trustees and/or the shareholders of the Trust authorizing such issuance of additional Shares of the Trust or such reduction, as the case may be, ; and (b) An opinion of counsel for the Trust with respect to the validity of the Shares of the Trust and the status of such Shares under the Securities Act of 1933, as amended, and any other applicable federal law or regulation (i.e., if subject to registration, that they have been registered and that the Registration Statement registration statement has become effective, or, if exempt, the specific grounds therefor).

AUTHORIZATION AND ISSUANCE OF SHARES. 1. Unless the Trust has authorized an unlimited number of Shares, the The Trust shall deliver to the Transfer Agent the following documents on or before the effective date of any increase or decrease in creation of a new class of shares and/or a new investment portfolio of the total number of Shares authorized to be issued:Trust. (a) A certified copy of any the amendment to the Trust's Declaration of Trust giving effect to such increase or decreasecreation; (b) In the case of an increase, an An opinion of counsel for the Trust with respect to the validity of the Shares of the Trust and the status of such Shares (to be issued as a new class and/or new series) under the Securities Act of 1933, as amended, and any other applicable federal Federal law or regulation (i.e., if subject to registration, that they have been registered and that the Registration Statement has become effective or, if exempt, the specific grounds therefor); and (c) In the case of an increase, if If the appointment of the Transfer Agent was theretofore expressly limited, a certified copy of a resolution of the Board of Trustees of the Trust increasing the authority of the Transfer Agent. 2. Unless the Trust has authorized an unlimited number of Shares, prior Prior to the issuance of any additional Shares of the Trust pursuant to share dividends or share splits, etc., and prior to any reduction in the number of shares outstanding, the Trust shall deliver the following documents to the Transfer Agent: (a) A certified copy of the resolution(s) adopted by the Board of Trustees of the Trust and/or the shareholders of the Trust authorizing such issuance of additional Shares of the Trust or such reduction, as the case may be, ; and (b) An opinion of counsel for the Trust with respect to the validity of the Shares of the Trust and the status of such Shares under the Securities Act of 1933, as amended, and any other applicable federal law or of regulation (i.e., if subject to registration, that they have been registered and that the Registration Statement has become effective, or, if exempt, the specific grounds therefor).