Method of Sale. (a) The Fund shall notify the Dealer, at least two (2) Business Days in advance (unless the Dealer consents to a shorter notice period), as to the aggregate amount of Notes the Fund desires to sell through the Dealer, and will consult and coordinate with the Dealer in selecting the face amount, maturity, yield and other terms of the particular Notes that will be offered; provided, however, that such notification and consultation will not obligate the Fund to offer or sell, nor the Dealer to accept or purchase, any Notes. The terms of each particular offering of Notes by the Dealer shall be agreed to by the Dealer and the Fund and will be memorialized by telegraphic, telexed, telecopied, or other written communication (each, a “Terms Agreement”) between the Dealer and the Fund, each substantially in the form of Exhibit A hereto. The Dealer will use its best efforts to sell the Notes that the Fund decides to offer and the Dealer agrees to sell such Notes in accordance with the terms of each Terms Agreement.
Appears in 12 contracts
Samples: Terms Agreement (Tax-Free High Grade Portfolio Target Maturity Fund for Puerto Rico Residents, Inc.), Terms Agreement (Tax Free Fund for Puerto Rico Residents, Inc.), Terms Agreement (Tax-Free Fixed Income Fund IV for Puerto Rico Residents, Inc.)
