Common use of Effectiveness of Registration Clause in Contracts

Effectiveness of Registration. None of the Common Shares or Advisor Shares shall be offered by either Counsellors Securities or the Fund under any of the provisions of this Agreement and no orders for the purchase or sale of the Common Shares or Advisor Shares shall be accepted by the Fund if and so long as the effectiveness of the registration statement shall be suspended under any of the provisions of the 1933 Act or if and so long as the prospectus is not on file with the SEC; provided, however, that nothing contained in this paragraph 5 shall in any way restrict or have an application to or bearing upon the Fund's obligation to repurchase its shares from any shareholder in accordance with the provisions of the prospectus or statement of additional information.

Effectiveness of Registration. None of the Common Shares or Advisor Shares shall be offered by either Counsellors Securities or the Fund under any of the provisions of this Agreement and no orders for the purchase or sale of the Common Shares, Institutional Shares or Advisor Shares shall be accepted by the Fund if and so long as the effectiveness of the registration statement shall be suspended under any of the provisions of the 1933 Act or if and so long as the prospectus is not on file with the SEC; provided, however, that nothing contained in this paragraph 5 shall in any way restrict or have an application to or bearing upon the Fund's obligation to repurchase its shares from any shareholder in accordance with the provisions of the prospectus or statement of additional information.