Laserfiche WebLink
shall be authorized to perform such functions by the Trustee's Board of <br />Directors through general or specific resolutions, However, the Trustee <br />solely shall be responsible for the performance of all rights and <br />responsibilities conferred on it as Trustee hereunder, and no such officer or <br />employee individually shall be deemed to have any Fiduciary authority or <br />responsibility with respect to the Fund, except as otherwise provided by <br />applicable law. <br />6,08 Discretion of the Trustee. The discretion of the Trustee, when exercised in <br />good faith and with reasonable care under the circumstances then prevailing, <br />shall be final and conclusive and binding upon each Participating Trust and <br />all persons interested therein, <br />6.09 Situ% The Trust shall be maintained at all times as a domestic trust in the <br />United States of America, and the Trustee shall at all times be a "bank" within <br />the meanings of Section 202(a)(2) of the Investment Advisers Act o €1940, as <br />atnended, and within the meaning of Section 2(a)(5) of the Investment <br />Company Act of 1940, as amended, <br />6.10 Payment of Expenses and Taxes. <br />(a) To the extent permitted under applicable law, all direct expenses <br />incurred by the Trustee in the performance of its duties hereunder, <br />including (i) all brokerage commissions, transfer taxes and all other <br />transaction costs incurred In connection with the operation of any <br />Fund of the Trust, (ii) all expenses directly incurred in connection <br />with the acquisition or holding of real or personal property, any <br />interest therein or mortgage thereon, or any interest which may be <br />payable on money borrowed by the Trustee for the purposes of a <br />Fund of the Trust and any other investment expense directly related <br />to the management of a Fund's investments or assets (including <br />printing, wiring, mailing, agents' fees, filing fees and pricing services, <br />and fees for legal and auditing services rendered to the Trustee), (Iii) <br />all taxes of any and all kinds whatsoever that may be levied or <br />assessed under existing or future laws upon or in respect of the Funds <br />or the income thereof which the Trustee in its sole discretion deems <br />applicable, (iv) expenses of litigation, and (v) all other proper charges <br />and disbursements (including fees and expenses of counsel) of the <br />Trustee (including extraordinary expenses), unless otherwise paid, <br />shall be withdrawn by the Trustee and paid from the Trust and shall <br />be allocated among the Funds and Classes thereof in tile proportions <br />Dill) 806241M.9 -22- <br />