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 OGDS, in exchange for the performance of sales and/or distribution services, Financial Institution will be entitled to receive the applicable percentage of the initial sales load, if any, as established by OGDS from the amount paid by Financial Institution's customer. The initial sales loads for any Fund shall be those set forth in the Fund's prospectus. The portion of the initial sales load payable to Financial Institution may be changed at any time, at OGDS' sole discretion, upon written notice to Financial Institution. (b) Transactions may be settled by Financial Institution: (i) by payment of the full purchase price less an amount equal to Financial Institution's applicable percentage of the initial sales load, or (ii) by payment of the full purchase price, in which case Financial Institution shall receive, not less frequently than monthly, the aggregate fees due to it on orders received and settled. (c) It shall be the obligation of the Financial Institution to either (i) assess the appropriate initial sales load for each transaction and to forward the public offering price, net of the amount of the initial sales load to be reallocated to the Financial Institution, to the appropriate Fund, or (ii) to provide OGDS with all necessary information regarding the application of the appropriate initial sales load to each transaction. (d) In the event that Financial Institution notifies OGDS in writing that Financial Institution elects to waive such initial sales load, and if the Funds' prospectus permits such waiver, such initial sales load will not be assessed on the transaction. Neither the Fund nor OGDS shall have any responsibility to correct the payment or assessment of an incorrect initial sales load due to the failure of the Financial Institution to fulfill the foregoing obligation.

Initial Sales Loads Payable to Financial Institution. (a) On each order accepted by OGDS, in exchange for the performance of sales and/or distribution services, Financial Institution will be entitled to receive the applicable percentage of the initial sales load, if any, as established by OGDS from the amount paid by Financial Institution's ’s customer. The initial sales loads for any Fund shall be those set forth in the Fund's ’s prospectus. The portion of the initial sales load payable to Financial Institution may be changed at any time, at OGDS' ’ sole discretion, upon written notice to Financial Institution. (b) Transactions may be settled by Financial Institution: (i) by payment of the full purchase price less an amount equal to Financial Institution's ’s applicable percentage of the initial sales load, or (ii) by payment of the full purchase price, in which case Financial Institution shall receive, not less frequently than monthly, the aggregate fees due to it on orders received and settled. (c) It shall be the obligation of the Financial Institution to either (i) assess the appropriate initial sales load for each transaction and to forward the public offering price, net of the amount of the initial sales load to be reallocated to the Financial Institution, to the appropriate Fund, or (ii) to provide OGDS with all necessary information regarding the application of the appropriate initial sales load to each transaction. (d) In the event that Financial Institution notifies OGDS in writing that Financial Institution elects to waive such initial sales load, and if the Funds' ’ prospectus permits such waiver, such initial sales load will not be assessed on the transaction. Neither the Fund nor OGDS shall have any responsibility to correct the payment or assessment of an incorrect initial sales load due to the failure of the Financial Institution to fulfill the foregoing obligation.

Initial Sales Loads Payable to Financial Institution. (a) On each order accepted by OGDS, in exchange for the performance of sales and/or distribution services, Financial Institution will be entitled to receive the applicable percentage of the initial sales load, if any, as established by OGDS from the amount paid by Financial Institution's customer. The initial sales loads for any Fund shall be those set forth in the Fund's prospectus. The portion of the initial sales load payable to Financial Institution may be changed at any time, at OGDS' sole discretion, upon written notice to Financial Institution. (b) Transactions may be settled by Financial Institution: (i) by payment of the full purchase price less an amount equal to Financial Institution's applicable percentage of the initial sales load, or (ii) by payment of the full purchase price, in which case Financial Institution shall receive, not less frequently than monthly, the aggregate fees due to it on orders received and settled. (ce) It shall be the obligation of the Financial Institution to either (i) assess the appropriate initial sales load for each transaction and to forward the public offering price, net of the amount of the initial sales load to be reallocated to the Financial Institution, to the appropriate Fund, or (ii) to provide OGDS with all necessary information regarding the application of the appropriate initial sales load to each transaction. (df) In the event that Financial Institution notifies OGDS in writing that Financial Institution elects to waive such initial sales load, and if the Funds' prospectus permits such waiver, such initial sales load will not be assessed on the transaction. Neither the Fund nor OGDS shall have any responsibility to correct the payment or assessment of an incorrect initial sales load due to the failure of the Financial Institution to fulfill the foregoing obligation.