Common use of Appointment of the General Distributor Clause in Contracts

Appointment of the General Distributor. The Fund hereby appoints you as the sole general distributor of ----------------------------------------------- Interests in connection with the aforesaid public offering of Interests, and the Fund further agrees from and after the date of this Agreement, that it will not, without your consent, sell or agree to sell any Interests otherwise than through you, except (a) the Fund may itself sell Interests without sales charges as an investment to the officers, trustees or directors and bona fide present and former full-time employees of the Fund, the Fund's investment adviser and affiliates thereof, and to other investors who are identified in the current Prospectus and/or SAI as having the privilege to buy Interests at the public offering price described in the Prospectus; (b) the Fund may issue Interests in connection with a merger, consolidation or acquisition of assets on such basis as may be authorized or permitted by the 1940 Act and the rules thereunder; and (c) the Fund may issue Interests in connection with the reinvestment of distributions made by the Fund or of any other investment company if permitted by the current Prospectus and/or SAI.