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ARTICLE, 5 <br />VALUATION, DIVIDENDS, ACCOUNTING, RECORDS AND <br />REPORTS <br />5.171 Valuation of Units. As of each Valuation Date, the Trustee shall determine <br />the value of the Units of each Class of each Fund establisbed pursuant to this <br />Declaration of Trust in accordance with the following procedures: <br />(a) The Trustee shall determine the value of the assets of a Fund in <br />accordance with the rules set forth In Section 5.02 below. The Trustee <br />shall reflect any changes in security positions no later than on the <br />second (2nd) Business Day following the trade date., <br />(b) The Trustee shall subtract from the value determined under <br />Section 5,01(a) above any expenses, charges, or other liabilities <br />incurred or accrued by the Fund and not allocated to a particular Class <br />of the Fund in the Description of Classes, as determined by the <br />Trustee in good faith in accordance with procedures consistently <br />followed and uniformly applied. Such charges shall be allocated to <br />Units of all Classes, and to Participating Trusts within a Class, <br />proportionately according to the aggregate number of Units of the <br />Fund represented by each Class immediately prior to the allocation <br />under this Section 5.01, <br />(c) The Trustee shall subtract from the value determined under <br />Sections 5.01(a) and (b) above with respect to each Class any <br />expenses, charges or other liabilities incurred or accrued by the Fund <br />with respect to such Class In accordance with the Description of <br />Classes. Such charges shall be allocated to Units of the applicable Class <br />proportionately according to the aggregate number of Units of the <br />Class immediately prior to the allocation under this Section 5.01. <br />(d) The Trustee shall divide the net value determined under <br />Section 5.01(c) above by the total number of Units of such Class in <br />existence as of the relevant Valuation Date. <br />Except where provided to the contrary in Section 5.03 below, the Trustee <br />shall value the Units of each Class of each Fund after the close of business of <br />each Business Day. <br />5M Valuation of Assets. The assets of each Fund shall be valued using the <br />following valuation rules, The Trustee shall have the power and duty to <br />determine the value of the assets of each Fund. <br />DB 1/8062,11859 - is - <br />