Common use of Payment of Redemption Proceeds Clause in Contracts

Payment of Redemption Proceeds. The Transfer Agent shall, upon ------------------------------- receipt of the moneys paid to it by the Custodian for the redemption of Shares, pay to the shareholder, or his authorized agent or legal representative, such moneys as are received from the Custodian, all in accordance with the redemption procedures described in the Trust's Prospectus; provided, however, that the Transfer Agent shall pay the proceeds of any redemption of Shares purchased within a period of time agreed upon in writing by the Transfer Agent and the Trust only in accordance with procedures agreed to in writing by the Transfer Agent and the Trust for determining that good funds have been collected for the purchase of such Shares, such written procedures attached to this Schedule as Exhibit 2. The Trust shall indemnify the Transfer Agent for any payment of redemption proceeds or refusal to make such payment if the payment or refusal to pay is in accordance with said written procedures. The Transfer Agent shall not process or effect any redemptions pursuant to a plan of distribution or redemption or in accordance with any other shareholder request upon the receipt by the Transfer Agent of notification of the suspension of the determination of the Trust's net asset value.

Payment of Redemption Proceeds. The Transfer Agent shall, ------------------------------- upon ------------------------------- receipt of the moneys paid to it by the Custodian for the redemption of Shares, pay to the shareholder, or his authorized agent or legal representative, such moneys as are received from the Custodian, all in accordance with the redemption procedures described in the Trust's Prospectus; provided, however, that the Transfer Agent shall pay the proceeds of any redemption of Shares purchased within a period of time agreed upon in writing by the Transfer Agent and the Trust only in accordance with procedures agreed to in writing by the Transfer Agent and the Trust for determining that good funds have been collected for the purchase of such Shares, such written procedures attached to this Schedule as Exhibit 2. The Trust shall indemnify the Transfer Agent for any payment of redemption proceeds or refusal to make such payment if the payment or refusal to pay is in accordance with said written procedures. The Transfer Agent shall not process or effect any redemptions pursuant to a plan of distribution or redemption or in accordance with any other shareholder request upon the receipt by the Transfer Agent of notification of the suspension of the determination of the Trust's net asset value.