Authorization, Services and Duties Clause Samples
Authorization, Services and Duties. (a) Purchase orders received from You will be accepted through us only at the offering price per share (i.e., the net asset value per share plus the applicable sales load, if any) applicable to each order, as set forth in the Prospectus. The procedure relating to the handling of orders shall be subject to provisions of this Agreement and instructions that We or the Fund shall forward from time to time to You. All orders are subject to acceptance or rejection by the Fund or us in the sole discretion of either. The minimum initial purchase and the minimum subsequent purchase of any Shares shall be as set forth in the Prospectus. You agree to effect all purchase orders in the manner and upon the terms described in the Prospectus (including restrictions on shareholder eligibility, imposition of redemption fees and maintenance of account balance minimums.)
(b) You shall be permitted to accept orders for the purchase of Shares of the Fund in accordance with the 1940 Act and as set forth in the Declaration of Trust, By-Laws and the then-current prospectus of the Fund.
(c) Solely for the limited purpose of receiving orders for the Shares of the Fund and communicating such orders, You will be deemed to act as agent of the Fund.
(d) The offering price (“Offering Price”) of Shares of the Fund shall be the net asset value per share, calculated in accordance with the Prospectus, as next determined by the Fund following receipt of an order at Your principal office, plus any applicable sales load.
(e) In all sales of the Shares You shall act as broker-dealer for Your customers or as dealer for Your own account, and in no transaction shall You have any authority to act as agent for the Fund, for us or for any other dealer except for the limited purpose of determining the time as of which transactions in Shares are deemed to have been received, and as otherwise provided in this Agreement.
(f) You shall not place orders for any Shares unless You have already received purchase orders for those Shares at the applicable offering price and subject to the terms hereof. You agree that You will not offer or sell any Shares except under circumstances that will result in compliance with the applicable Federal and state laws (including, without limitation, applicable provisions of the 1933 Act, 1934 Act, 1940 Act and the rules and regulations of the FINRA), any applicable banking laws, the applicable rules and regulations thereunder and the rules and regulations of applicable regulat...
Authorization, Services and Duties. (a) Your internal systems for processing and transmitting orders are suitably designed to prevent orders received at or after the close of regular trading on the New York Stock Exchange (the "Close of Trading") from being aggregated with orders received before the Close of Trading.
(b) In making shares of the Funds available to Your clients or customers, You agree to comply with all applicable law, including the applicable law and regulation of the jurisdictions in which You sell any shares of the funds directly or indirectly.
Authorization, Services and Duties. (a) Purchase, redemption or exchange orders received from you will be accepted through us only at the public offering price per share (i.e., the net asset value per share plus the applicable front-end sales charge, if any) applicable to each order, and all orders for redemption of any Shares shall be executed at the net asset value per share less any applicable deferred sales charge, if any, in each case as set forth in the applicable Prospectus. A Fund may additionally impose redemption fees, as described in the applicable Prospectus. Any applicable deferred sales charge amounts received or retained by you shall be paid over by you directly to us or our designated delegate in partial consideration of our payment to you of any commission amounts provided by us at the time of sale. The procedure relating to the handling of orders shall be subject to provisions of this Agreement and instructions that we or the Fund shall forward from time to time to you. All orders are subject to acceptance or rejection by the applicable Fund or us in the sole discretion of either. The minimum initial purchase and the minimum subsequent purchase of any Shares shall be as set forth in the applicable Prospectus. You agree to comply with provisions of Rule 22c-2 under the 1940 Act as applicable to each Fund (including reporting procedures adopted to comply with the Rule). You agree to effect all purchase, redemption or exchange orders in the manner and upon the terms described in the Prospectus (including restrictions on frequent trading, imposition of redemption fees and maintenance of account balance minimums.)
(b) You shall be permitted to accept orders for the purchase, exchange or redemption of Shares of the Funds on each business day that the New York Stock Exchange ("NYSE") is open for business and a Fund's net asset value is determined ("Business Day"). Instructions received in proper form by you prior to time of acceptance for orders set forth in the applicable Prospectus ("Close of Trading") (generally the close of regular trading on the NYSE, which is generally 4:00 p.m. Eastern Time), and with respect to which you transmit orders to the Fund via the NSCC Fund/SERV system up to the latest time accepted by Fund/SERV on a given Business Day, will be deemed to have occurred, and will be credited to the respective account, at the per share NAV next calculated after the Close of Trading on that Business Day. You will not transmit orders based on Instructions received from...
Authorization, Services and Duties. (a) Purchase order received from you will be accepted through us only at the public offering price per share (i.e., the net asset value per share plus the applicable front-end sales charge, if any) applicable to each order, and all orders for repurchase of any Shares shall be executed at the net asset value per share less any applicable redemption fee, if any, in each case as set forth in the applicable Prospectus.
(b) On or before the settlement date of each purchase order for Shares of the Fund, you shall remit to an account designated by us with the Fund’s Transfer Agent an amount equal to the then current public offering price of the Shares of the Fund without deduction for any dealer reallowance, if any, with respect to such purchase order as determined by us in accordance with the terms of the Fund’s Prospectus. Your dealer reallowance, if any, shall be payable to you on at least a monthly basis. If payment for any purchase order is not received in accordance with the terms of the Fund’s Prospectus, we reserve the right, without notice, to cancel the sale and to hold you responsible for any loss sustained as a result thereof.
(c) Sales of Shares by you to the public shall earn a commission amounting to a percentage of the applicable public offering price and which varies with the size and nature of each such purchase. The terms and conditions affecting the applicable public offering prices, including features such as rights of accumulation, letters of intention and net asset value purchases, are described in the current Prospectus. The schedule of commissions generally payable with respect to sales of Shares is stated below. Commission checks for less than $10 will not be issued.
(d) Customers may be entitled to a reduction in sales load on purchases made from the Fund, based on the amount of their investment in the Fund, which utilizes a letter of intent ("Letter of Intent") in accordance with the Fund’s Prospectus. In such case, the dealer reallowance will be paid based upon the reduced sales load, provided, however, that an adjustment to a higher dealer reallowance will be made in accordance with the Prospectus to reflect the investor’s actual purchases if s/he should fail to fulfill his/her Letter of Intent. The sales load and/or dealer reallowance may be changed at any time in our sole discretion upon written notice to you. The Fund reserves the right to waive sales charges.
(e) The following table shows the amount of the front-end sales load th...
Authorization, Services and Duties. In making Shares available to Your clients or customers, You agree to comply with all applicable law, including the applicable law and regulation of the jurisdictions in which You sell any Shares directly or indirectly.