Common use of Dealer Authority Clause in Contracts

Dealer Authority. With respect to the distribution and sale of Shares, Dealer shall have no authority to act as agent for the Funds, the Company or any other dealer in any respect in such transactions. All orders are subject to acceptance by the Company and become effective only upon confirmation by the Company, and are subject to acceptance or rejection by the Company or the appropriate Fund in its sole discretion. Dealer shall have no authority to make any representations concerning the Shares of any Fund except such representations as may be contained in that Fund's then current prospectus ("Prospectus"), in its then current Statement of Additional Information, and in such other printed information as that Fund or the Company may subsequently prepare and distribute to Dealer for purposes of selling the Shares, and Dealer shall have no authority to distribute any other sales material relating to a Fund or its Shares without the prior written approval of the Company.