Common use of Purchase of Interests Clause in Contracts

Purchase of Interests. (a) As Distributor, you shall have the right, subject to the terms of this Agreement, to accept or reject orders for the purchase of Interests at your discretion. Any consideration that you may receive in connection with a rejected purchase order must be returned promptly. (b) You agree promptly to issue, or to cause the duly appointed investor servicing agent of the Fund to issue as your agent, confirmations of all accepted purchase orders and to transmit a copy of such confirmations to the Fund. The full subscription amounts payable in connection with each order for the purchase of Interests by an investor shall be transmitted by you or by the selling dealer to the Fund's escrow agent, including applicable sales charges, within the periods specified in the Prospectus.