Common use of Purchase of Shares from the Corporation Clause in Contracts

Purchase of Shares from the Corporation. a. Prior to the continuous offering of the Shares of a Fund, commencing on a date agreed upon by the Corporation and the Distributor, the Distributor may solicit subscriptions for Shares during a subscription period which shall last for such period as may be agreed upon by the parties hereto. If so, the subscriptions will be payable within three business days after the termination of the subscription period, at which time the Shares will be issued against payment and such Fund will commence operations. b. After the subscription offering, if any such offering is made, or at such other time agreed to by the Distributor and the Corporation, each Fund will commence an offering of Shares and thereafter the Distributor shall have the right to buy from the Corporation the Shares needed, but not more than the Shares needed (except for clerical errors in transmission) to fill unconditional orders for Shares of a Fund placed with the Distributor by eligible investors or financial intermediaries. Investors eligible to purchase each class of Shares of each Fund shall be those persons so identified in the currently effective prospectus and statement of additional information of a Fund (the "prospectus" and "statement of additional information," respectively) under the Securities Act of 1933, as amended (the "Securities Act"), relating to such class of Shares of such Fund ("eligible investors"). The price that the Distributor shall pay for Shares so purchased from a Fund shall be the net asset value, determined as set forth in Section 3(e) hereof, used in determining the public offering price on which such orders were based. c. The Shares are to be resold by the Distributor to eligible investors at the public offering price, as set forth in Section 3(d) hereof, or to financial intermediaries having agreements with the Distributor pursuant to Section 7 hereof. d. The public offering price of each class of Shares, i.e., the price per share at which the Distributor or financial intermediaries may sell the Shares to eligible investors, shall be the public offering price as set forth in the prospectus and statement of additional information relating to such class of Shares, or as otherwise permissible under the federal and state securities laws. If the public offering price does not equal an even cent, the public offering price may be adjusted to the nearest cent. All payments to the Funds hereunder shall be made in the manner set forth in Section 3(g). e. The net asset value of Shares shall be determined by the Corporation or any agent of the Corporation in accordance with the method set forth in each Fund's prospectus and statement of additional information and guidelines established by the Directors. f. The Corporation shall have the right to suspend the sale of Shares of any Fund at any time. In addition, the Corporation shall have the right to suspend the sale of Shares at times when redemption is suspended pursuant to the conditions set forth in Section 4(b) hereof. The Corporation shall also have the right to suspend the sale of Shares if trading on the New York Stock Exchange shall have been suspended, if a banking moratorium shall have been declared by Federal or New York authorities, or if there shall have been some other event that, in the judgment of the Corporation, makes it impracticable or inadvisable to sell the Shares. g. The Corporation, or any agent of the Corporation designated in writing by the Corporation, shall be promptly advised of all purchase orders for Shares received by the Distributor. Any order may be rejected by the Corporation; provided, however, that the Corporation will not arbitrarily or without reasonable cause refuse to accept or confirm orders for the purchase of Shares. The Corporation (or its agent) will confirm orders upon their receipt, will make appropriate book entries and, upon receipt by the Corporation (or its agent) of payment therefor, will deliver deposit receipts or certificates for such Shares pursuant to the instructions of the Distributor. Payment shall be made to the Corporation through National Securities Clearing Corporation ("NSCC"), in New York Clearing House funds or by Federal Funds wire. The Distributor agrees to cause such payment and such instructions to be delivered promptly to the Corporation (or its agent).

Purchase of Shares from the Corporation. a. Prior to the (a) The Corporation will commence a continuous offering of the Shares of a Fund, commencing on a date agreed upon by the Corporation and the Distributor, the Distributor may solicit subscriptions for Shares during a subscription period which shall last for such period as may be agreed upon by the parties hereto. If so, the subscriptions will be payable within three business days after the termination of the subscription period, at which time the Shares will be issued against payment and such Fund will commence operations. b. After the subscription offering, if any such offering is made, or at such other time agreed to by the Distributor and the Corporation, each Fund will commence an offering of Shares its shares and thereafter the Distributor Underwriter shall have the right to buy from a portfolio the Corporation the Shares needed, but not more than the Shares shares needed (except for clerical errors in transmission) to fill unconditional orders for Shares shares of a Fund such portfolio placed with the Distributor Underwriter by eligible investors or financial intermediaries. Investors eligible to purchase each class of Shares of each Fund shall be those persons so identified in the currently effective prospectus and statement of additional information of a Fund (the "prospectus" and "statement of additional information," respectively) under the Securities Act of 1933, as amended (the "Securities Act"), relating to such class of Shares of such Fund ("eligible investors"). The price that which the Distributor Underwriter shall pay for Shares the shares so purchased from a Fund portfolio shall be the net asset value, determined as set forth in Section 3(e3(d) hereof, used in determining the public offering price on which such orders were are based. c. (b) The Shares shares are to be resold by the Distributor Underwriter to eligible investors at the a public offering price, price as set forth in Section 3(dsection 3(c) hereof, or to financial intermediaries having agreements with the Distributor pursuant to Section 7 hereof. d. (c) The public offering price of each class of Sharesthe shares, i.e., the price per share at which the Distributor or financial intermediaries Underwriter may sell shares to the Shares to eligible investorspublic, shall be the public offering price as set forth determined in accordance with the current prospectus and statement of additional information of the Corporation (“Prospectus” and “Statement of Additional Information,” respectively) under the Securities Act of 1933, as amended (the “Securities Act”), relating to such class of Sharesshares, or as otherwise permissible under but not to exceed the federal and state securities laws. If net asset value at which the public offering price does not equal an even cent, the public offering price may be adjusted Underwriter is to the nearest centpurchase such shares. All payments to the Funds Corporation hereunder shall be made in the manner set forth in Section 3(g)3(f) hereof. e. (d) The net asset value of Shares shares of the Corporation portfolio shall be determined by the Corporation Corporation, or any agent of the Corporation, as of the close of regular trading on the New York Stock Exchange on each Corporation business day in accordance with the method set forth in each Fund's prospectus the Prospectus and statement Statement of additional information Additional Information and guidelines established by the DirectorsDirectors of the Corporation. f. (e) The Corporation shall have reserves the right to suspend the sale offering of Shares of any Fund its shares at any time. In addition, the Corporation shall have the right to suspend the sale of Shares at times when redemption is suspended pursuant to the conditions set forth in Section 4(b) hereof. The Corporation shall also have the right to suspend the sale of Shares if trading on the New York Stock Exchange shall have been suspended, if a banking moratorium shall have been declared by Federal or New York authorities, or if there shall have been some other event that, time in the judgment absolute discretion of the Corporation, makes it impracticable or inadvisable to sell the Sharesits Directors. g. (f) The Corporation, or any agent of the Corporation designated in writing to the Underwriter by the Corporation, shall be promptly advised by the Underwriter of all purchase orders for Shares shares received by the DistributorUnderwriter. Any order may be rejected by the Corporation; provided, however, that the Corporation will not arbitrarily or without reasonable cause refuse to accept or confirm orders for the purchase of Sharesshares. The Corporation (or its agent) will confirm orders upon their receipt, will make appropriate book entries and, upon receipt by the Corporation (or its agent) of payment thereforthereof, will deliver deposit receipts or certificates for such Shares shares pursuant to the instructions of the DistributorUnderwriter. Payment shall be made to the Corporation through National Securities Clearing Corporation ("NSCC"), in New York Clearing House funds or by Federal Funds wirefunds. The Distributor Underwriter agrees to cause such payment and such instructions to be delivered promptly to the Corporation (or its agent).

Purchase of Shares from the Corporation. a. Prior to the continuous offering of the Shares of a Fund, commencing on a date agreed upon by the Corporation and the Distributor, the Distributor may solicit subscriptions for Shares during a subscription period which shall last for such period as may be agreed upon by the parties hereto. If so, the subscriptions will be payable within three business days after the termination of the subscription period, at which time the Shares will be issued against payment and such Fund will commence operations. b. After a Fund commences operations, the subscription offering, if any such offering is made, or at such other time agreed to by the Distributor and the Corporation, each Fund will commence an offering of Shares and thereafter the Distributor shall have the right to buy from the Corporation the Shares needed, but not more than the Shares needed (except for clerical errors in transmission) to fill unconditional orders for Shares of a Fund placed with the Distributor by eligible investors or financial intermediaries. Investors eligible to purchase each class of Shares of each Fund shall be those persons so identified in the currently effective prospectus and statement of additional information of a Fund (the "prospectus" and "statement of additional information," respectively) under the Securities Act of 1933, as amended (the "Securities Act"), relating to such class of Shares of such Fund ("eligible investors"). The price that the Distributor shall pay for Shares so purchased from a Fund shall be the net asset value, determined as set forth in Section 3(e) hereof, used in determining the public offering price on which such orders were based. c. The Shares are to be resold by the Distributor to eligible investors at the public offering price, as set forth in Section 3(d) hereof, or to financial intermediaries having agreements with the Distributor pursuant to Section 7 hereof. d. The public offering price of each class of Shares, i.e., the price per share at which the Distributor or financial intermediaries may sell the Shares to eligible investors, shall be the public offering price as set forth in the prospectus and statement of additional information relating to such class of Shares, or as otherwise permissible under the federal and state securities laws. If the public offering price does not equal an even cent, the public offering price may be adjusted to the nearest cent. All payments to the Funds hereunder shall be made in the manner set forth in Section 3(g). e. The net asset value of Shares shall be determined by the Corporation or any agent of the Corporation in accordance with the method set forth in each Fund's prospectus and statement of additional information and guidelines established by the Directors. f. The Corporation shall have the right to suspend the sale of Shares of any Fund at any time. In addition, the Corporation shall have the right to suspend the sale of Shares at times when redemption is suspended pursuant to the conditions set forth in Section 4(b) hereof. The Corporation shall also have the right to suspend the sale of Shares if trading on the New York Stock Exchange shall have been suspended, if a banking moratorium shall have been declared by Federal or New York authorities, or if there shall have been some other event that, in the judgment of the Corporation, makes it impracticable or inadvisable to sell the Shares. g. The Corporation, or any agent of the Corporation designated in writing by the Corporation, shall be promptly advised of all purchase orders for Shares received by the Distributor. Any order may be rejected by the Corporation; provided, however, that the Corporation will not arbitrarily or without reasonable cause refuse to accept or confirm orders for the purchase of Shares. The Corporation (or its agent) will confirm orders upon their receipt, will make appropriate book entries and, upon receipt by the Corporation (or its agent) of payment therefor, will deliver deposit receipts or certificates for such Shares pursuant to the instructions of the Distributor. Payment shall be made to the Corporation through National Securities Clearing Corporation ("NSCC"), in New York Clearing House funds or by Federal Funds wire. The Distributor agrees to cause such payment and such instructions to be delivered promptly to the Corporation (or its agent).

Purchase of Shares from the Corporation. a. Prior to the (a) The Corporation will commence a continuous offering of the Shares of a Fund, commencing on a date agreed upon by the Corporation and the Distributor, the Distributor may solicit subscriptions for Shares during a subscription period which shall last for such period as may be agreed upon by the parties hereto. If so, the subscriptions will be payable within three business days after the termination of the subscription period, at which time the Shares will be issued against payment and such Fund will commence operations. b. After the subscription offering, if any such offering is made, or at such other time agreed to by the Distributor and the Corporation, each Fund will commence an offering of Shares its shares and thereafter the Distributor Underwriter shall have the right to buy from a portfolio the Corporation the Shares needed, but not more than the Shares shares needed (except for clerical errors in transmission) to fill unconditional orders for Shares shares of a Fund such portfolo placed with the Distributor Underwriter by eligible investors or financial intermediariesinvestors. Investors eligible to purchase each class of Shares of each Fund The price which the Underwriter shall pay for the shares so purchased from a portfolio shall be those persons so identified the net asset value, determined as set forth in Section 3(d) hereof, used in determining the currently effective public offering price on which such orders are based. (b) The shares are to be resold by the Underwriter to investors at a public offering price as set forth in section 3(c) hereof. (c) The public offering price of the shares, i.e., the price per share at which the Underwriter may sell shares to the public, shall be the public offering price determined in accordance with the current prospectus and statement of additional information of a Fund the Corporation (the "prospectusProspectus" and "statement Statement of additional informationAdditional Information," respectively) under the Securities Act of 1933, as amended (the "Securities Act"), relating to such class of Shares of such Fund ("eligible investors"). The price that the Distributor shall pay for Shares so purchased from a Fund shall be shares, but not to exceed the net asset value, determined as set forth in Section 3(e) hereof, used in determining the public offering price on which such orders were based. c. The Shares are to be resold by the Distributor to eligible investors at the public offering price, as set forth in Section 3(d) hereof, or to financial intermediaries having agreements with the Distributor pursuant to Section 7 hereof. d. The public offering price of each class of Shares, i.e., the price per share value at which the Distributor or financial intermediaries may sell the Shares Underwriter is to eligible investors, shall be the public offering price as set forth in the prospectus and statement of additional information relating to purchase such class of Shares, or as otherwise permissible under the federal and state securities laws. If the public offering price does not equal an even cent, the public offering price may be adjusted to the nearest centshares. All payments to the Funds Corporation hereunder shall be made in the manner set forth in Section 3(g)3(f) hereof. e. (d) The net asset value of Shares shares of the Corporation portfolio shall be determined by the Corporation Corporation, or any agent of the Corporation, as of the close of regular trading on the New York Stock Exchange on each Corporation business day in accordance with the method set forth in each Fund's prospectus the Prospectus and statement Statement of additional information Additional Information and guidelines established by the DirectorsDirectors of the Corporation. f. (e) The Corporation shall have reserves the right to suspend the sale offering of Shares of any Fund its shares at any time. In addition, the Corporation shall have the right to suspend the sale of Shares at times when redemption is suspended pursuant to the conditions set forth in Section 4(b) hereof. The Corporation shall also have the right to suspend the sale of Shares if trading on the New York Stock Exchange shall have been suspended, if a banking moratorium shall have been declared by Federal or New York authorities, or if there shall have been some other event that, time in the judgment absolute discretion of the Corporation, makes it impracticable or inadvisable to sell the Sharesits Directors. g. (f) The Corporation, or any agent of the Corporation designated in writing to the Underwriter by the Corporation, shall be promptly advised by the Underwriter of all purchase orders for Shares shares received by the DistributorUnderwriter. Any order may be rejected by the Corporation; provided, however, that the Corporation will not arbitrarily or without reasonable cause refuse to accept or confirm orders for the purchase of Sharesshares. The Corporation (or its agent) will confirm orders upon their receipt, will make appropriate book entries and, upon receipt by the Corporation (or its agent) of payment thereforthereof, will deliver deposit receipts or certificates for such Shares shares pursuant to the instructions of the DistributorUnderwriter. Payment shall be made to the Corporation through National Securities Clearing Corporation ("NSCC"), in New York Clearing House funds or by Federal Funds wirefunds. The Distributor Underwriter agrees to cause such payment and such instructions to be delivered promptly to the Corporation (or its agent).

Purchase of Shares from the Corporation. a. Prior to the continuous offering of the Shares of a Fund, commencing on a date agreed upon by the Corporation and the Distributor, the Distributor may solicit subscriptions for Shares during a subscription period which shall last for such period as may be agreed upon by the parties hereto. If so, the subscriptions will be payable within three business days after the termination of the subscription period, at which time the Shares will be issued against payment and such Fund will commence operations. b. After a Fund commences operations, the subscription offering, if any such offering is made, or at such other time agreed to by the Distributor and the Corporation, each Fund will commence an offering of Shares and thereafter the Distributor shall have the right to buy from the Corporation the Shares needed, but not more than the Shares needed (except for clerical errors in transmission) to fill unconditional orders for Shares of a Fund placed with the Distributor by eligible investors or financial intermediaries. Investors eligible to purchase each class of Shares of each Fund shall be those persons so identified in the currently effective prospectus and statement of additional information of a Fund (the "prospectus" and "statement of additional information," respectively) under the Securities Act of 1933, as amended (the "Securities Act"), relating to such class of Shares of such Fund ("eligible investors"). The price that the Distributor shall pay for Shares so purchased from a Fund shall be the net asset value, determined as set forth in Section 3(e) hereof, used in determining the public offering price on which such orders were based. c. The Shares are to be resold by the Distributor to eligible investors at the public offering price, as set forth in Section 3(d) hereof, or to financial intermediaries having agreements with the Distributor pursuant to Section 7 hereof. d. The public offering price of each class of Shares, i.e., the price per share at which the Distributor or financial intermediaries may sell the Shares to eligible investors, shall be the public offering price as set forth in the prospectus and statement of additional information relating to such class of Shares, or as otherwise permissible under the federal and state securities laws. If the public offering price does not equal an even cent, the public offering price may be adjusted to the nearest cent. All payments to the Funds hereunder shall be made in the manner set forth in Section 3(g). e. The net asset value of Shares shall be determined by the Corporation or any agent of the Corporation in accordance with the method set forth in each Fund's prospectus and statement of additional information and guidelines established by the Directors. f. The Corporation shall have the right to suspend the sale of Shares of any Fund at any time. In addition, the Corporation shall have the right to suspend the sale of Shares at times when redemption is suspended pursuant to the conditions set forth in Section 4(b) hereof. The Corporation shall also have the right to suspend the sale of Shares if trading on the New York Stock Exchange shall have been suspended, if a banking moratorium shall have been declared by Federal or New York authorities, or if there shall have been some other event that, in the judgment of the Corporation, makes it impracticable or inadvisable to sell the Shares. g. The Corporation, or any agent of the Corporation designated in writing by the Corporation, shall be promptly advised of all purchase orders for Shares received by the Distributor. Any order may be rejected by the Corporation; provided, however, that the Corporation will not arbitrarily or without reasonable cause refuse to accept or confirm orders for the purchase of Shares. The Corporation (or its agent) will confirm orders upon their receipt, will make appropriate book entries and, upon receipt by the Corporation (or its agent) of payment therefor, will deliver deposit receipts or certificates for such Shares pursuant to the instructions of the Distributor. Payment shall be made to the Corporation through National Securities Clearing Corporation ("NSCC"), in New York Clearing House funds or by Federal Funds wire. The Distributor agrees to cause such payment and such instructions to be delivered promptly to the Corporation (or its agent).

Purchase of Shares from the Corporation. a. 1. Prior to the continuous offering of the Shares of a Fund, commencing on a date agreed upon by the Corporation and the Distributor, the Distributor may solicit subscriptions for Shares during a subscription period which shall last for such period as may be agreed upon by the parties hereto. If so, the subscriptions will be payable within three business days after the termination of the subscription period, at which time the Shares will be issued against payment and such Fund will commence operations. b. 2. After the subscription offering, if any such offering is made, or at such other time agreed to by the Distributor and the Corporation, each Fund will commence an offering of Shares and thereafter the Distributor shall have the right to buy from the Corporation the Shares needed, but not more than the Shares needed (except for clerical errors in transmission) to fill unconditional orders for Shares of a Fund placed with the Distributor by eligible investors or financial intermediaries. Investors eligible to purchase each class of Shares of each Fund shall be those persons so identified in the currently effective prospectus and statement of additional information of a Fund (the "prospectus" and "statement of additional information," respectively) under the Securities Act of 1933, as amended (the "Securities Act"), relating to such class of Shares of such Fund ("eligible investors"). The price that the Distributor shall pay for Shares so purchased from a Fund shall be the net asset value, determined as set forth in Section 3(e) hereof, used in determining the public offering price on which such orders were based. c. 3. The Shares are to be resold by the Distributor to eligible investors at the public offering price, as set forth in Section 3(d) hereof, or to financial intermediaries having agreements with the Distributor pursuant to Section 7 hereof. d. 4. The public offering price of each class of Shares, i.e., the price per share at which the Distributor or financial intermediaries may sell the Shares to eligible investors, shall be the public offering price as set forth in the prospectus and statement of additional information relating to such class of Shares, or as otherwise permissible under the federal and state securities laws. If the public offering price does not equal an even cent, the public offering price may be adjusted to the nearest cent. All payments to the Funds hereunder shall be made in the manner set forth in Section 3(g). e. 5. The net asset value of Shares shall be determined by the Corporation or any agent of the Corporation in accordance with the method set forth in each Fund's prospectus and statement of additional information and guidelines established by the Directors. f. 6. The Corporation shall have the right to suspend the sale of Shares of any Fund at any time. In addition, the Corporation shall have the right to suspend the sale of Shares at times when redemption is suspended pursuant to the conditions set forth in Section 4(b) hereof. The Corporation shall also have the right to suspend the sale of Shares if trading on the New York Stock Exchange shall have been suspended, if a banking moratorium shall have been declared by Federal or New York authorities, or if there shall have been some other event that, in the judgment of the Corporation, makes it impracticable or inadvisable to sell the Shares. g. 7. The Corporation, or any agent of the Corporation designated in writing by the Corporation, shall be promptly advised of all purchase orders for Shares received by the Distributor. Any order may be rejected by the Corporation; provided, however, that the Corporation will not arbitrarily or without reasonable cause refuse to accept or confirm orders for the purchase of Shares. The Corporation (or its agent) will confirm orders upon their receipt, will make appropriate book entries and, upon receipt by the Corporation (or its agent) of payment therefor, will deliver deposit receipts or certificates for such Shares pursuant to the instructions of the Distributor. Payment shall be made to the Corporation through National Securities Clearing Corporation ("NSCC"), in New York Clearing House funds or by Federal Funds wire. The Distributor agrees to cause such payment and such instructions to be delivered promptly to the Corporation (or its agent).

Purchase of Shares from the Corporation. a. 1. Prior to the continuous offering of the Shares of a FundShares, commencing on a date agreed upon by the Corporation and the Distributor, the Distributor may solicit subscriptions for Shares during a subscription period which shall last for such period as may be agreed upon by the parties hereto. If so, the subscriptions will be payable within three business days after the termination of the subscription period, at which time the Shares will be issued against payment and such Fund will commence operations. b. 2. After the subscription offeringCorporation commences operations, if any such offering is made, or at such other time agreed to by the Distributor and the Corporation, each Fund it will commence an offering of Shares and thereafter the Distributor shall have the right to buy from the Corporation the Shares needed, but not more than the Shares needed (except for clerical errors in transmission) to fill unconditional orders for Shares of a Fund placed with the Distributor by eligible investors or financial intermediaries. Investors eligible to purchase each class of Shares of each Fund the Corporation shall be those persons so identified in the currently effective prospectus and statement of additional information of a Fund the Corporation (the "prospectus" and "statement of additional information," respectively) under the Securities Act of 1933, as amended (the "Securities Act"), relating to such class of Shares of such Fund ("eligible investors"). The price that the Distributor shall pay for Shares so purchased from a Fund shall be the net asset value, determined as set forth in Section 3(e) hereof, used in determining the public offering price on which such orders were based. c. 3. The Shares are to be resold by the Distributor to eligible investors at the public offering price, as set forth in Section 3(d) hereof, or to financial intermediaries having agreements with the Distributor pursuant to Section 7 hereof. d. 4. The public offering price of each class of Shares, i.e., the price per share at which the Distributor or financial intermediaries may sell the Shares to eligible investors, shall be the public offering price as set forth in the prospectus and statement of additional information relating to such class of Shares, or as otherwise permissible under the federal and state securities laws. If the public offering price does not equal an even cent, the public offering price may be adjusted to the nearest cent. All payments to the Funds Corporation hereunder shall be made in the manner set forth in Section 3(g). e. 5. The net asset value of Shares shall be determined by the Corporation or any agent of the Corporation in accordance with the method set forth in each Fundthe Corporation's prospectus and statement of additional information and guidelines established by the directors of the Corporation (the "Directors"). f. 6. The Corporation shall have the right to suspend the sale of the Shares of any Fund at any time. In addition, the Corporation shall have the right to suspend the sale of Shares at times when redemption is suspended pursuant to the conditions set forth in Section 4(b) hereof. The Corporation shall also have the right to suspend the sale of Shares if trading on the New York Stock Exchange shall have been suspended, if a banking moratorium shall have been declared by Federal or New York authorities, or if there shall have been some other event that, in the judgment of the Corporation, makes it impracticable or inadvisable to sell the Shares. g. 7. The Corporation, or any agent of the Corporation designated in writing by the Corporation, shall be promptly advised of all purchase orders for Shares received by the Distributor. Any order may be rejected by the Corporation; provided, however, that the Corporation will not arbitrarily or without reasonable cause refuse to accept or confirm orders for the purchase of Shares. The Corporation (or its agent) will confirm orders upon their receipt, will make appropriate book entries and, upon receipt by the Corporation (or its agent) of payment therefor, will deliver deposit receipts or certificates for such Shares pursuant to the instructions of the Distributor. Payment shall be made to the Corporation through National Securities Clearing Corporation ("NSCC"), in New York Clearing House funds or by Federal Funds wire. The Distributor agrees to cause such payment and such instructions to be delivered promptly to the Corporation (or its agent).