Common use of Initial Sales Loads Payable to Financial Institution Clause in Contracts

Initial Sales Loads Payable to Financial Institution. (a) On each order accepted by Distributor, in exchange for the performance of sales services and/or distribution services, Financial Institution will be entitled to receive the applicable dealer concession set forth in the then current prospectus or statement of additional information ("SAI") of the applicable Fund or applicable Fund Exhibit, whichever contains more recent information, subject to any adjustment in the rate of such concession referred to below, from the amount paid by Financial Institution's customer. The initial sales loads for any Fund shall be those set forth in its prospectus. The rate of the dealer concession payable to Financial Institution may be changed at any time at Distributor's sole discretion upon written notice to Financial Institution.