Common use of ISSUANCE, REDEMPTION, EXCHANGE AND TRANSFER OF SHARES Clause in Contracts

ISSUANCE, REDEMPTION, EXCHANGE AND TRANSFER OF SHARES. 1. (a) The Transfer Agent shall accept with respect to each Fund Business Day, at such times as are agreed upon from time to time by the Transfer Agent and the Fund, each (i) purchase order received from a purchaser, or shareholder, whether or not an Approved Institution, (ii) exchange request involving shares of certain other investment companies listed in the Fund's prospectus, and (iii) redemption request either received from a shareholder, whether or not an Approved Institution, or contained in a Certificate, provided, that (A) such purchase order or redemption request, as the case may be, is reasonably believed by the Transfer Agent to be in conformity with the Fund's purchase and redemption procedures described in the Prospectus, (B) where such redemption request states redemption instructions which vary from the instructions indicated on the shareholder's original subscription order form, such request contains a signature guarantee, (C) such exchange request contains a signature guarantee and instructs exchange into a fund that is listed in the Fund's current prospectus, and (D) the Transfer Agent has agreed to accept and act in accordance with such type of purchase order or redemption request, as the case may be.