Common use of Class Differences Clause in Contracts

Class Differences. The relative rights and preferences of the Classes of any Series may differ in such other respects as the Trustees may determine to be appropriate in their sole discretion, provided that such differences are set forth in the instrument establishing and designating such Classes and executed by a majority of the Trustees (or by an instrument executed by an officer of the Fund pursuant to a vote of a majority of the Trustees). The relative rights and preferences of each Class of Interests shall be the same in all respects except that, and unless and until the Board of Trustees shall determine otherwise: (i) when a vote of Holders is required under this Agreement or when a meeting of Holders is called by the Board of Trustees, the Interests of a Class shall vote exclusively on matters that affect that Class only; (ii) the expenses and liabilities related to a Class shall be borne solely by such Class (as determined and allocated to such Class by the Trustees from time to time in a manner consistent with Sections 3.2 and 3.3 hereof); and (iii) the Interests of each Class shall have such other rights and preferences as are set forth from time to time in the then effective prospectus and/or statement of additional information relating to the Interests. Dividends and distributions on each Class of Interests may differ from the dividends and distributions on any other such Class, and the net asset value of each Class of Interests may differ from the net asset value of any other such Class.