Common use of PAYMENT FOR PURCHASES AND REDEMPTIONS Clause in Contracts

PAYMENT FOR PURCHASES AND REDEMPTIONS. Purchase orders shall be paid for in federal funds transmitted by wire no later than the Business Day that the Fund receives notice of the order. The Fund shall use its best efforts to send redemption proceeds in federal funds transmitted by wire no later than the next Business Day after the Fund received notice of the order, unless doing so would cause the Fund to dispose of portfolio securities or otherwise incur additional costs. In any event, the Fund will wire proceeds of redemption orders to the Company within the period required under the 1940 Act or the rules, orders or regulations thereunder.

PAYMENT FOR PURCHASES AND REDEMPTIONS. Purchase orders shall be paid for in federal funds transmitted by wire no later than the Business Day that the Fund receives notice of the order. The Fund shall use its best efforts to send redemption proceeds in federal funds transmitted by wire no later than the next Business Day after the Fund received notice of the order, unless doing so would cause the Fund to dispose of portfolio securities or otherwise incur additional costs. In any event, the Fund will wire proceeds of redemption orders to the Company Companies within the period required under the 1940 Act or the rules, orders or regulations thereunder.

PAYMENT FOR PURCHASES AND REDEMPTIONS. Purchase orders shall be paid -------------------------------------- for in federal funds transmitted by wire no later than the Business Day that the Fund receives notice of the order. The Fund shall use its best efforts to send redemption proceeds in federal funds transmitted by wire no later than the next Business Day after the Fund received notice of the order, unless doing so would cause the Fund to dispose of portfolio securities or otherwise incur additional costs. In any event, the Fund will wire proceeds of redemption orders to the Company within the period required under the 1940 Act or the rules, orders or regulations thereunder.