Orders for Shares Sample Clauses
The "Orders for Shares" clause defines the process by which parties may submit requests to purchase shares in a company. Typically, it outlines the procedures for placing orders, any requirements or conditions that must be met, and the manner in which such orders are accepted or rejected by the company. For example, it may specify deadlines for submitting orders, required documentation, or payment terms. The core function of this clause is to establish a clear and orderly method for handling share purchase requests, thereby reducing confusion and ensuring that all parties understand the steps involved in acquiring shares.
Orders for Shares. Orders received from you for Shares of a Fund will be accepted by us only at the public offering price applicable to each order, as set forth in the relevant Prospectus and Statement. All orders by you for a Fund's Shares will be held through the Accounts with the Fund, and you agree to make available to the Funds on a monthly basis records necessary to determine the number of Plans or Customers in each Account (indicating the number of new Customer accounts opened during the month, as well as the number of ongoing Customer accounts) and, if requested by us, the times of receipt of Customer orders. You agree to use your best efforts to assist us in identifying "market timers" or investors who engage in a pattern of short-term trading. On each day on which a Fund calculates its net asset value (a "Business Day"), you shall aggregate and calculate the net purchase and redemption orders for each Account. Net orders shall only reflect Customer orders that you have received prior to the close of regular trading on the New York Stock Exchange, Inc. (the "NYSE") (currently 4:00 p.m., Eastern time) on that Business Day. Orders that you have received after the close of regular trading on the NYSE shall be treated as though received on the next Business Day. Each communication of orders by you shall constitute a representation that such orders were received by you prior to the close of regular trading on the NYSE on the Business Day on which the purchase or redemption order is priced in accordance with Rule 22c-1 under the 1940 Act. Other procedures relating to the Funds, including the timing and manner of payment for Shares, shall be in accordance with Schedule B, as amended from time to time, as well as with the Prospectus and Statement of the relevant Fund and with oral or written instructions that we or the relevant Fund shall forward to you from time to time. SUBJECT TO THE TERMS AND CONDITIONS OF THIS AGREEMENT AND THE PROCEDURES REFERRED TO IN THE PRECEDING PARAGRAPH, YOU ARE HEREBY APPOINTED TO ACT, AND YOU HEREBY AGREE TO ACT, AS AGENT OF EACH FUND FOR THE PURPOSE SPECIFICALLY SET FORTH IN THIS PARAGRAPH. Provided that you comply with the procedures referred to in the preceding paragraph, you shall be deemed to be an agent of each Fund for the sole purpose of receiving instructions from Customers for the purchase and redemption of Shares of the Fund prior to the close of regular trading on the NYSE each Business Day and communicating orders based on such in...
Orders for Shares. Subject to applicable provisions of the Securities Act of 1933 and the Investment Company Act of 1940, purchase and redemption orders for Shares of a Fund will be processed in accordance with the terms of the Fund Participation Agreement entered into by and among the Service Organization, the Funds and the investment Advisor. Service Organization agrees to use all reasonable efforts to assist the Funds in identifying “market timers” or investors who engage in a patter of short-term trading.