Order Processing/Trading Abuse Clause Samples

Order Processing/Trading Abuse. In accordance with FINRA Notice to Members 03-50 (reminding members of their responsibility to ensure that they have in place policies and procedures reasonably designed to detect and prevent the occurrence of mutual fund transactions that would violate Rule 22c-1 under the 1940 Act, NASD/FINRA Conduct Rule 2110 and other applicable rules and regulations), you represent that you have reviewed your policies and procedures to ensure that they are adequate with respect to preventing violations of law and prospectus requirements related to timely order-taking and market timing activity, and you hereby provide the confirmation set forth on Appendix B hereto. You represent that you will be responsible for the collection and payment to the relevant Company of any Redemption Fees based upon the terms outlined in the relevant Company’s prospectus. You acknowledge that certain practices relating to the purchase and redemption of Shares, such as, but not limited to, market timing, short-term trading, excessive trading, failure to comply with or otherwise attempting to circumvent break point restrictions, redemption fee requirements, and/or the rules on waiving sales charges, as set forth in the applicable Fund Prospectus, and such other, similar activities or practices that may be identified from time to time by any Fund and communicated to you by us in writing (collectively, “Trading Abuses”) may be harmful to the Funds and their shareholders. You agree to assist us and the Funds in enforcing procedures adopted by or on behalf of the Funds to reduce, discourage or eliminate Trading Abuses in the Funds’ Shares in order to reduce or eliminate the adverse effects of Trading Abuses on the Funds and the Funds’ shareholders.