Common use of APPOINTMENT AND AUTHORITY OF AGENT Clause in Contracts

APPOINTMENT AND AUTHORITY OF AGENT. The Fund appoints the Distributor as its principal underwriter, to sell shares of the Fund's beneficial interest during the term of this Agreement. While this Agreement is in force, the Distributor agrees to use its best efforts to find purchasers for shares of the Fund. The Distributor shall sell, as agent on behalf of the Fund, the shares needed, but not more than the shares needed (except for clerical errors and errors of transmission), to fill unconditional orders placed with the Distributor, and the price which the Fund shall receive for shares so purchased shall be the net asset value used in determining the public offering price on which such orders were based. (The term "net asset value" as used in this Agreement shall have the meaning assigned to it in the Fund's Bylaws, as amended from time to time). The Distributor shall notify the Custodian of the Fund, at the end of each business day, or as soon thereafter as the orders placed with it in such period have been compiled, of the number of shares and the prices thereof which the Distributor shall have sold on behalf of the Fund. The Distributor shall use its best efforts to cause the sums due for shares ordered from the Fund to be collected or to be advanced to the Fund on behalf of the purchasers on or before the seventh business day (excluding Saturdays) after the shares have been so ordered. The agency of the Distributor shall be exclusive, except that it shall not apply to (1) shares issued in connection with the merger or consolidation of any other investment company or entity with the Fund or the non-taxable acquisition, by purchase or otherwise, of all (or substantially all) of the assets or the outstanding shares of any company by the Fund, or (2) shares which may be offered by the Fund to its shareholders for reinvestment of dividends and capital gains distributions, whether declared in cash or in shares or cash at the option of the shareholder. The Fund may suspend the sale of its shares at any time by notice to the Distributor for such period of time as the Fund deems desirable. Such a suspension of sale shall not effect a termination of this Agreement.

APPOINTMENT AND AUTHORITY OF AGENT. The Fund appoints the Distributor as its principal underwriter, to sell shares of the Fund's beneficial interest of the Fund during the term of this Agreement. While this Agreement is in force, the Distributor agrees to use its best efforts to find purchasers for such shares of the Fund. The Distributor shall sell, as agent on behalf of the Fund, the shares needed, but not more than the shares needed (except for clerical errors and errors of transmission), ) to fill unconditional orders placed with the Distributor, and the price which the Fund shall receive for shares so purchased shall be the net asset value used in determining the public offering price on which such orders were based. (The term "net asset value" as used in this Agreement shall have the meaning assigned to it in the Fund's BylawsDeclaration of Trust, as amended from time to time). .) The Distributor shall notify the Custodian of the Fund, at the end of each business day, or as soon thereafter as the orders placed with it in such period have been compiled, of the number of shares and the prices thereof which the Distributor shall have sold on behalf of the Fund. The Distributor shall use its best efforts to cause the sums due for shares ordered from the Fund to be collected or to be advanced to the Fund on behalf of the purchasers on or before the seventh business day (excluding Saturdays) after the shares have been so ordered. The agency of the Distributor shall be exclusive, except that it shall not apply to (1) shares issued in connection with the merger or consolidation of any other investment company or entity with the Fund or the non-taxable acquisition, by purchase or otherwise, of all (or substantially all) of the assets or the outstanding shares of any company by the Fund, or (2) shares which may be offered by the Fund to its shareholders for reinvestment of dividends and capital gains distributions, whether declared in cash or in shares or cash at the option of the shareholder. The Fund may suspend the sale of its shares at any time by notice to the Distributor for such period of time as the Fund deems desirable. Such a suspension of sale sales shall not effect a termination of this Agreement.

APPOINTMENT AND AUTHORITY OF AGENT. The Fund Corporation, on behalf of the Fund, appoints the Distributor as its principal underwriter, to sell shares of the Fund's ’s beneficial interest during the term of this Agreement. While this Agreement is in force, the Distributor agrees to use its best efforts to find purchasers for shares of the Fund. The Distributor shall sell, as agent on behalf of the Fund, the shares needed, but not more than the shares needed (except for clerical errors and errors of transmission), to fill unconditional orders placed with the Distributor, and the price which the Fund shall receive for shares so purchased shall be the net asset value used in determining the public offering price on which such orders were based. (The term "“net asset value" ” as used in this Agreement shall have the meaning assigned to it in the Fund's ’s Bylaws, as amended from time to time). The Distributor shall notify the Custodian of the Fund, at the end of each business day, or as soon thereafter as the orders placed with it in such period have been compiled, of the number of shares and the prices thereof which the Distributor shall have sold on behalf of the Fund. The Distributor shall use its best efforts to cause the sums due for shares ordered from the Fund to be collected or to be advanced to the Fund on behalf of the purchasers on or before the seventh third business day (excluding Saturdays) after the shares have been so ordered. The agency of the Distributor shall be exclusive, except that it shall not apply to (1) shares issued in connection with the merger or consolidation of any other investment company or entity with the Fund or the non-taxable acquisition, by purchase or otherwise, of all (or substantially all) of the assets or the outstanding shares of any company by the Fund, or (2) shares which may be offered by the Fund to its shareholders for reinvestment of dividends and capital gains distributions, whether declared in cash or in shares or cash at the option of the shareholder. The Fund Corporation may suspend the sale of its Fund shares at any time by notice to the Distributor for such period of time as the Fund Corporation deems desirable. Such a suspension of sale shall not effect a termination of this Agreement.

APPOINTMENT AND AUTHORITY OF AGENT. The Fund appoints the Distributor as its principal underwriter, to sell shares of the Fund's beneficial interest during the term of this Agreement. While this Agreement is in force, the Distributor agrees to use its best efforts to find purchasers for shares of the Fund. The Distributor shall sell, as agent on behalf of the Fund, the shares needed, but not more than the shares needed (except for clerical errors and errors of transmission), to fill unconditional orders placed with the Distributor, and the price which the Fund shall receive for shares so purchased shall be the net asset value used in determining the public offering price on which such orders were based. (The term "net asset value" as used in this Agreement shall have the meaning assigned to it in the Fund's Bylaws, as amended from time to time). The Distributor shall notify the Custodian of the Fund, at the end of each business day, or as soon thereafter as the orders placed with it in such period have been compiled, of the number of shares and the prices thereof which the Distributor shall have sold on behalf of the Fund. The Distributor shall use its best efforts to cause the sums due for shares ordered from the Fund to be collected or to be advanced to the Fund on behalf of the purchasers on or before the seventh third business day (excluding Saturdays) after the shares have been so ordered. The agency of the Distributor shall be exclusive, except that it shall not apply to (1) shares issued in connection with the merger or consolidation of any other investment company or entity with the Fund or the non-taxable acquisition, by purchase or otherwise, of all (or substantially all) of the assets or the outstanding shares of any company by the Fund, or (2) shares which may be offered by the Fund to its shareholders for reinvestment of dividends and capital gains distributions, whether declared in cash or in shares or cash at the option of the shareholder. The Fund may suspend the sale of its shares at any time by notice to the Distributor for such period of time as the Fund deems desirable. Such a suspension of sale shall not effect a termination of this Agreement.