Common use of Disclaimer of Shareholder and Trustee Liability Clause in Contracts

Disclaimer of Shareholder and Trustee Liability. The Distributor understands that the obligations of the Fund under this Plan are not binding upon any Trustee or shareholder of the Fund personally, but bind only the Fund and the Fund's property. The Distributor represents that it has notice of the provisions of the Declaration of Trust of the Fund disclaiming shareholder and Trustee liability for acts or obligations of the Fund. Oppenheimer Cash Reserves By: /s/ Robert G. Zack Robert G. Zack, Vice Pre▇▇▇▇▇▇ & Secretary OppenheimerFunds Distributor, Inc.

Disclaimer of Shareholder and Trustee Liability. The Distributor understands that the obligations of the Fund under this Plan are not binding upon any Trustee or shareholder of the Fund personally, but bind only the Fund and the Fund's property. The Distributor represents that it has notice of the provisions of the Declaration of Trust of the Fund disclaiming shareholder and Trustee liability for acts or obligations of the Fund. Oppenheimer Cash Reserves International Bond Fund By: /s/ Robert G. Zack ___________________________________ Robert G. Zack, Vice Pre▇▇▇▇▇▇ & President and Secretary OppenheimerFunds Distributor, Inc.

Disclaimer of Shareholder and Trustee Liability. The Distributor understands that the obligations of the Fund under this Plan are not binding upon any Trustee or shareholder of the Fund personally, but bind only the Fund and the Fund's property. The Distributor represents that it has notice of the provisions of the Declaration of Trust of the Fund disclaiming shareholder and Trustee liability for acts or obligations of the Fund. Oppenheimer Cash Reserves Developing Markets ▇▇▇▇ By: /s/ Robert G. Zack _________________________ Robert G. Zack, Vice Pre▇▇▇▇▇▇ & Secretary OppenheimerFunds Distributor, Inc.

Disclaimer of Shareholder and Trustee Liability. The Distributor ----------------------------------------------- understands that the obligations of the Fund under this Plan are not binding upon any Trustee or shareholder of the Fund personally, but bind only the Fund and the Fund's property. The Distributor represents that it has notice of the provisions of the Declaration of Trust of the Fund disclaiming Trustee and shareholder and Trustee liability for acts or obligations of the Fund. Oppenheimer Cash Reserves Enterprise Fund By: /s/ Robert G. Zack Robert G. Zack, Vice Pre▇▇▇▇▇▇ & Secretary OppenheimerFunds Distributor, Inc.---------------------------

Disclaimer of Shareholder and Trustee Liability. The Distributor understands that the obligations of the Fund under this Plan are not binding upon any Trustee or shareholder of the Fund personally, but bind only the Fund and the Fund's property. The Distributor represents that it has notice of the provisions of the Declaration of Trust of the Fund disclaiming shareholder and Trustee liability for acts or obligations of the Fund. Oppenheimer Cash Reserves Baring China Fund By: /s/ Robert G. Zack _________________________ Robert G. Zack, Vice Pre▇▇▇▇▇▇ & Secretary OppenheimerFunds Distributor, Inc.

Disclaimer of Shareholder and Trustee Liability. The Distributor understands that the obligations of the Fund under this Plan are not binding upon any Trustee or shareholder of the Fund personally, but bind only the Fund and the Fund's property. The Distributor represents that it has notice of the provisions of the Declaration of Trust of the Fund disclaiming shareholder and Trustee liability for acts or obligations of the Fund. Oppenheimer Cash Reserves U.S. Government Trust By: /s/ Robert G. Zack Robert G. Zack, Vice Pre▇▇▇▇▇▇ & Secretary OppenheimerFunds Distributor, Inc.

Disclaimer of Shareholder and Trustee Liability. The Distributor understands that the obligations of the Fund under this Plan are not binding upon any Trustee or shareholder of the Fund personally, but bind only the Fund and the Fund's property. The Distributor represents that it has notice of the provisions of the Declaration of Trust of the Fund disclaiming shareholder and Trustee liability for acts or obligations of the Fund. Oppenheimer Cash Reserves Baring Japan Fund By: /s/ Robert G. Zack _________________________ Robert G. Zack, Vice Pre▇▇▇▇▇▇ & Secretary OppenheimerFunds Distributor, Inc.

Disclaimer of Shareholder and Trustee Liability. The Distributor understands that the obligations of the Fund under this Plan are not binding upon any Trustee or shareholder of the Fund personally, but bind only the Fund and the Fund's property. The Distributor represents that it has notice of the provisions of the Declaration of Trust of the Fund disclaiming Trustee and shareholder and Trustee liability for acts or obligations of the Fund. Oppenheimer Cash Reserves Roche▇▇▇▇ ▇▇▇▇▇▇a Municipal Fund By: /s/ Robert G. Zack __________________________________________ Robert G. Zack, Vice PreS▇▇▇▇▇▇▇▇ & Secretary OppenheimerFunds Distributor, Inc.

Disclaimer of Shareholder and Trustee Liability. The Distributor understands that the obligations of the Fund under this Plan are not binding upon any Trustee or shareholder of the Fund personally, but bind only the Fund and the Fund's property. The Distributor represents that it has notice of the provisions of the Declaration of Trust of the Fund disclaiming shareholder and Trustee liability for acts or obligations of the Fund. Oppenheimer Cash Reserves Real Estate Fund By: /s/ Robert G. Zack Robert G. Zack, Vice Pre▇▇▇▇▇▇ & Secretary OppenheimerFunds Distributor, Inc.

Disclaimer of Shareholder and Trustee Liability. The Distributor understands that the obligations of the Fund under this Plan are not binding upon any Trustee or shareholder of the Fund personally, but bind only the Fund and the Fund's property. The Distributor represents that it has notice of the provisions of the Declaration of Trust of the Fund disclaiming shareholder and Trustee liability for acts or obligations of the Fund. Oppenheimer Cash Reserves Senior Floating ▇▇▇▇ ▇▇▇▇ By: /s/ Robert G. Zack Robert G. Zack, Vice Pre▇▇▇▇▇▇ & President and Secretary OppenheimerFunds Distributor, Inc.

Disclaimer of Shareholder and Trustee Liability. The Distributor understands that the obligations of the Fund under this Plan are not binding upon any Trustee or shareholder of the Fund personally, but bind only the Fund and the Fund's property. The Distributor represents that it has notice of the provisions of the Declaration of Trust of the Fund disclaiming shareholder and Trustee liability for acts or obligations of the Fund. Oppenheimer Cash Reserves AMT-Free New York ▇▇▇▇▇▇▇▇▇▇ By: /s/ Robert G. Zack ___________________________ Robert G. Zack, Vice Pre▇▇▇▇▇▇ & Secretary OppenheimerFunds Distributor, Inc.

Disclaimer of Shareholder and Trustee Liability. The Distributor understands that the obligations of the Fund under this Plan are not binding upon any Trustee or shareholder of the Fund personally, but bind only the Fund and the Fund's property. The Distributor represents that it has notice of the provisions of the Declaration of Trust of the Fund disclaiming Trustee and shareholder and Trustee liability for acts or obligations of the Fund. Oppenheimer Cash Reserves Transition 2015 Fund By: /s/ Robert G. Zack Robert G. Zack, Vice Pre▇▇▇▇▇▇ & Zack Secretary OppenheimerFunds Distributor, Inc.

Disclaimer of Shareholder and Trustee Liability. The Distributor understands that the obligations of the Fund under this Plan are not binding upon any Trustee or shareholder of the Fund personally, but bind only the Fund and the Fund's property. The Distributor represents that it has notice of the provisions of the Declaration of Trust of the Fund disclaiming shareholder and Trustee liability for acts or obligations of the Fund. Oppenheimer Cash Reserves By: /s/ Enterprise Fund By:/s/ Robert G. Zack ___________________________ Robert G. Zack, Vice Pre▇▇▇▇▇▇ & Secretary OppenheimerFunds Distributor, Inc.

Disclaimer of Shareholder and Trustee Liability. The Distributor understands that the obligations of the Fund under this Plan are not binding upon any Trustee or shareholder of the Fund personally, but bind only the Fund and the Fund's property. The Distributor represents that it has notice of the provisions of the Declaration of Trust of the Fund Trust disclaiming shareholder and Trustee liability for acts or obligations of the Fund. Oppenheimer Cash Reserves Quest Small- & Mi▇- ▇▇▇ Value Fund, a series of Oppenheimer Quest For Value Funds By: /s/ Robert G. Zack Robert G. Zack, Vice Pre▇▇▇▇▇▇ & Secretary OppenheimerFunds Distributor, Inc.

Disclaimer of Shareholder and Trustee Liability. The Distributor understands that the obligations of the Fund under this Plan are not binding upon any Trustee or shareholder of the Fund personally, but bind only the Fund and the Fund's property. The Distributor represents that it has notice of the provisions of the Declaration of Trust of the Fund disclaiming shareholder and Trustee liability for acts or obligations of the Fund. Oppenheimer Cash Reserves Developing Market▇ ▇▇▇▇ By: /s/ Robert G. Zack _________________________ Robert G. Zack, Vice Pre▇▇▇▇▇▇ & Secretary OppenheimerFunds Distributor, Inc.

Disclaimer of Shareholder and Trustee Liability. The Distributor understands that the obligations of the Fund under this Plan are not binding upon any Trustee or shareholder of the Fund personally, but bind only the Fund and the Fund's property. The Distributor represents that it has notice of the provisions of the Declaration of Trust of the Fund disclaiming shareholder and Trustee liability for acts or obligations of the Fund. Oppenheimer Cash Reserves Real Estate Fund By: /s/ Robert G. Zack _____________________________ Robert G. Zack, Vice Pre▇▇▇▇▇▇ & Secretary OppenheimerFunds Distributor, Inc.

Disclaimer of Shareholder and Trustee Liability. The Distributor understands that the obligations of the Fund under this Plan are not binding upon any Trustee or shareholder of the Fund personally, but bind only the Fund and the Fund's property. The Distributor represents that it has notice of the provisions of the Declaration of Trust of the Fund disclaiming Trustee and shareholder and Trustee liability for acts or obligations of the Fund. Oppenheimer Cash Reserves Gold & Special Mi▇▇▇▇▇▇ ▇▇▇▇ By: /s/ Robert G. Zack Robert G. Zack, Vice Pre▇▇▇▇▇▇ & Secretary OppenheimerFunds Distributor, Inc.