Common use of Purchase by Affiliates Clause in Contracts

Purchase by Affiliates. Neither the Distributor nor any of its officers shall take a long or short position in the securities issued by the Portfolio. The prohibition, however, shall not prevent the purchase from the Portfolio of shares issued by the Portfolio by the officers and Directors of the Distributor (or deferred benefit plans established for their benefit) at the current price available to the public, or at such price with reductions in sales charge as may be permitted by the Portfolio's current prospectus, in accordance with Section 22 of the 1940 Act.

Purchase by Affiliates. Neither the Distributor nor any of its officers shall take a long or short position in the securities issued by the Portfolio. The prohibition, however, shall not prevent the purchase from the Portfolio of shares issued by the Portfolio by the officers and Directors of the Distributor (or deferred benefit plans established for their benefit) at the current price available to the public, or at such price with reductions in sales charge as may be permitted by the Portfolio's current prospectus, in accordance with Section 22 of the 1940 ActInvestment Company Act of 1940.

Purchase by Affiliates. Neither the Distributor nor any of its officers or Directors shall take a long or short position in the securities issued by the Portfolio. The This prohibition, however, shall not prevent the purchase from the Portfolio of shares issued by the Portfolio by to the officers and Directors of the Distributor (or deferred benefit plans established for their benefit) at the current price available to the public, or at such price with reductions in sales charge as may be permitted by the Portfolio's current prospectus, in accordance with Section 22 of the 1940 ActInvestment Company Act of 1940.