Common use of Appointment as Distributor Clause in Contracts

Appointment as Distributor. (a) Subject to the terms and conditions of this Agreement, the Fund hereby appoints the Distributor as its exclusive distributor in connection with the distribution of the Shares to brokerage customers of the Distributor, and the Distributor hereby accepts such appointment. (b) The Distributor agrees to use its best efforts to offer and sell Shares to investors that the Distributor reasonably believes meet the eligibility requirements set forth in the Registration Statement. (c) The Fund, the Investment Adviser and/or any administrator or transfer agent appointed by the Fund or the Investment Adviser (the “Administrator”), in its or their sole discretion, may return to the Distributor any Subscription Agreement that is not completed to its or their satisfaction and the Fund shall be under no obligation to accept any Subscription Agreement. (d) The Distributor acknowledges that Shares will be offered and sold only as set forth in the Registration Statement including, without limitation, pricing of Shares, handling of investor funds, subscription dates and investor eligibility standards. (e) The Fund may suspend or terminate the offering of the Shares at any time as to specific classes of investors, as to specific jurisdictions or otherwise. Upon notice to the Distributor of the terms of such suspension or termination, the Distributor shall suspend solicitation of subscriptions for Shares in accordance with such terms until the Fund notifies the Distributor that such solicitation may be resumed. (f) It is acknowledged and agreed that the Distributor is not obligated to sell any specific number of Shares or to purchase any Shares for its own account. The Fund shall be entitled to appoint other distributors to distribute Shares to persons other than brokerage customers of the Distributor.

Appointment as Distributor. (a) Subject to the terms and conditions of this Agreement, the Fund hereby appoints the Distributor as its non-exclusive distributor in connection with the distribution of the Shares to brokerage customers of the DistributorShares, and the Distributor hereby accepts such appointment. (b) The Distributor agrees to use its best efforts to offer and sell Shares either through financial intermediaries and/or directly to investors that the Distributor reasonably believes meet the eligibility requirements set forth in the Registration Statement. (c) The Fund, the Investment Adviser and/or any administrator or transfer agent appointed by the Fund or the Investment Adviser (the “Administrator”), in its or their sole discretion, may return to the Distributor any Subscription Agreement that is not completed to its or their satisfaction and the Fund shall be under no obligation to accept any Subscription Agreement. (d) The Distributor acknowledges that Shares will be offered and sold only as set forth in the Registration Statement including, without limitation, pricing of Shares, handling of investor funds, subscription dates and investor eligibility standards. (e) The Fund may suspend or terminate the offering of the Shares at any time as to specific classes of investors, as to specific jurisdictions or otherwise. Upon notice to the Distributor of the terms of such suspension or termination, the Distributor shall suspend solicitation of subscriptions for Shares in accordance with such terms until the Fund notifies the Distributor that such solicitation may be resumed. (f) It is acknowledged and agreed that the Distributor is not obligated to sell any specific number of Shares or to purchase any Shares for its own account. The Fund shall be entitled to appoint other distributors to distribute Shares to persons other than brokerage customers of the Distributoradditional distributors.