Purchase of Shares from the Fund. (a) The Underwriter shall have the right to buy from the Fund the shares needed to fill unconditional orders for shares of the Fund placed with the Underwriter by investors or securities dealers, depository institutions or other financial intermediaries acting as agent for their customers. The price which the Underwriter shall pay for the shares so purchased from the Fund shall be the net asset value, determined as set forth in Section 3(d) hereof, used in determining the 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, or to securities dealers, depository institutions or other financial intermediaries acting as agent for their customers having agreements with the Underwriter upon the terms and conditions set forth in Section 8 hereof.
(c) The public offering price of the shares, i.e., the price per share at which the Underwriter or selected dealers or selected agents (each as defined in Section 8(a) below) may sell shares to the public, shall be the public offering price determined in accordance with the then current Prospectus and Statement of Additional Information of the Fund (the "Prospectus" and "Statement of Additional Information," respectively) under the Securities Act of 1933, as amended (the "Securities Act"), relating to such shares, but not to exceed the net asset value at which the Underwriter is to purchase such shares, plus, in the case of Class A shares, a front-end sales charge equal to a specified percentage or percentages of the public offering price of the Class A shares as set forth in the Prospectus. Class A shares may be sold without such a sales charge to certain classes of persons as from time to time set forth in the Prospectus and Statement of Additional Information. All payments to the Fund hereunder shall be made in the manner set forth in Section 3(f) hereof.
(d) The net asset value of shares of the Fund shall be determined by the Fund, or any agent of the Fund, as of the close of regular trading on the New York Stock Exchange on each Fund business day in accordance with the method set forth in the Prospectus and Statement of Additional Information and guidelines established by the Directors of the Fund.
(e) The Fund reserves the right to suspend the offering of its shares at any time in the absolute discretion of its Directors.
(f) The Fund, or any agent of the Fund designated in writing to th...
Purchase of Shares from the Fund. 3.1 The Distributor shall have the right to buy from the Fund on behalf of investors the Shares needed, but not more than the Shares needed (except for clerical errors in transmission) to fill unconditional orders for Shares placed with the Distributor by investors or registered and qualified securities dealers and other financial institutions (selected dealers).
3.2 The Shares shall be sold by the Distributor on behalf of the Fund and delivered by the Distributor or selected dealers, as described in Section 6.4 hereof, to investors at the offering price as set forth in the Prospectus.
3.3 The Fund shall have the right to suspend the sale of any or all classes and/or series of its Shares at times when redemption is suspended pursuant to the conditions in Section 4.3 hereof or at such other times as may be determined by the Board. The Fund shall also have the right to suspend the sale of any or all classes and/or series of its Shares if a banking moratorium shall have been declared by federal or New Jersey authorities.
3.4 The Fund, or any agent of the Fund designated in writing by the Fund, shall be promptly advised of all purchase orders for Shares received by the Distributor. Any order may be rejected by the Fund; provided, however, that the Fund will not arbitrarily or without reasonable cause refuse to accept or confirm orders for the purchase of Shares. The Fund (or its agent) will confirm orders upon their receipt, will make appropriate book entries and upon receipt by the Fund (or its agent) of payment therefor, will deliver deposit receipts for such Shares pursuant to the instructions of the Distributor. Payment shall be made to the Fund in New York Clearing House funds or federal funds. The Distributor agrees to cause such payment and such instructions to be delivered promptly to the Fund (or its agent).
Purchase of Shares from the Fund. (a) The Fund will make available to the Distributor, and the Distributor will sell on behalf of the Fund, the shares of the Fund needed to fill unconditional orders for shares of the Fund placed with the Distributor by the Company for allocation to the Variable Account. The price that the Distributor shall pay for the shares corresponding to each portfolio so purchased shall be the net asset value per share corresponding to such portfolio, as determined on the basis set forth in Section 2.3(c) of this Agreement.
(b) The shares corresponding to each portfolio (other than shares sold to and purchased by the Distributor to provide initial capital to any of the Fund’s portfolios) shall be resold by the Distributor to the Company for allocation to the Variable Account at the net asset value per share of such portfolio.
(c) On each day in which the net asset value of the shares corresponding to any Portfolio is determined, the Fund shall provide to the Distributor, for it to provide to the Company, the net asset value of such shares by 90 minutes after the close of the New York Stock Exchange or at such later time as shall be agreed to by the parties. The net asset value of such shares shall be determined in accordance with the method set forth in the current prospectus of the Fund.
(d) The Fund shall have the right to suspend the sale of shares corresponding to any of its portfolios at times when redemption of such shares is suspended pursuant to the conditions set forth in Section 2.4(b) of this Agreement. The Fund shall also have the right to suspend the sale of shares corresponding to any of its Portfolios if trading on the New York Stock Exchange shall have been suspended, if a banking moratorium shall have been declared, or if there shall have been some other extraordinary event that, in the judgment of the Fund, makes it impracticable to sell any such shares.
Purchase of Shares from the Fund. 3.1 The Distributor shall have the right to buy from the Fund on behalf of investors the Shares needed, but not more than the Shares needed (except for clerical errors in transmission) to fill unconditional orders for Shares placed with the Distributor by investors or registered and qualified securities dealers and other financial institutions (selected dealers).
3.2 The Shares shall be sold by the Distributor on behalf of the Fund and delivered by the Distributor or selected dealers, as described in Section 6.4 hereof, to investors at the offering price as set forth in the Prospectus.
3.3 The Fund shall have the right to suspend the sale of any or all classes and/or series of its Shares at times when redemption is suspended pursuant to the conditions in Section 4.3 hereof or at such other times as may be determined by the
Purchase of Shares from the Fund. (a) The Distributor agrees to use its best efforts to solicit offers to purchase the Shares upon the terms and conditions set forth in the Prospectus.
(b) The Shares are to be sold by the Distributor and, if deemed advisable by the Distributor, by securities dealers and financial advisors who are members in good standing of the National Association of Securities Dealers, Inc. and who have entered into sales agreements with the Distributor ("Authorized Dealers") upon the terms and conditions set forth in Section 8 hereof, to investors at the 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 Distributor or Authorized Dealers may sell Shares to the public, shall be the public offering price as set forth in the currently effective Prospectus and Statement of Additional Information included in the Fund's Registration Statement, but not to exceed the net asset value at which the Distributor is to purchase the Shares, plus the applicable sales charge as set forth in the Prospectus. 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 Fund hereunder shall be made in the manner set forth in Section 3(1).
(d) The net asset value of Shares shall be determined by the Fund or its agent in accordance with the method set forth in the Prospectus and Statement of Additional Information and guidelines established by the Board of Directors of the Fund. Such net asset value shall be determined on each day the New York Stock Exchange is open for business and such public offering price based upon such net asset value shall become effective as set forth from time to time in the current Prospectus. The Fund (or its agent) shall furnish the Distributor, with all possible promptness, a statement of each computation of net asset value, and of the details entering into such computation.
(e) The Fund shall have the right to suspend the sale of its Shares at times when redemption is suspended pursuant to the conditions set forth in Section 4(b) hereof. The Fund shall also have the right to suspend the sale of its Shares if trading on the New York Stock Exchange shall have been suspended, if a banking moratorium shall have been declared by federal authorities, or if there shall have been some other event, which, in the judgment of the Fund, makes it impracticable or inadvisable to sell the Shares.
(f) The Dis...
Purchase of Shares from the Fund. (a) Prior to the continuous offering of the Shares of a Fund, commencing on a date agreed upon by that Fund and the Distributor, the Distributor may solicit subscriptions for Shares during a subscription period that shall last for such period as may be agreed upon by the parties hereto. Subscriptions will be payable within three business days after the termination of the relevant 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 Fund will commence an offering of its Shares, and thereafter the Distributor shall have the right to buy from the Fund 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)
Purchase of Shares from the Fund. (a) Prior to the continuous offering of the shares, com- mencing on a date agreed on by the Fund and the Distributor, it is contemplated that the Distributor will solicit subscriptions for shares during a subscription period which shall last for such period as may be agreed upon by the parties hereto. The sub- scriptions will be payable within five business days after the termination of the subscription period, at which time the Fund will commence operations.
(b) After the Fund commences operations, the Fund will commence an offering of its shares and thereafter the Distributor shall have the right to buy from the Fund the shares needed, but not more than the shares needed (except for clerical errors in transmission) to fill unconditional orders for shares of the Fund placed with the Distributor by investors or securities dealers. The price which the Distributor shall pay for the shares so purchased from the Fund shall be the net asset value, determined as set forth in Section 3(d) hereof.
(c) The shares are to be resold by the Distributor to investors at net asset value, as set forth in Section 3(d) here- of, or to securities dealers having agreements with the Distri-
Purchase of Shares from the Fund. (a) The Fund herewith engages the Distributor to act as exclusive distributor of the shares of its separate series, and any other series which may be designated from time to time hereafter (“Portfolios”), named and described on Schedule A attached hereto and incorporated by reference. Said sales shall be made only to investors eligible to invest in a registered investment company consistent with such company’s serving as an investment vehicle for variable annuities and variable life insurance company contracts. Distributor need not hold itself available to receive by mail, telex and/or telephone, orders for the purchase of shares.
(b) All shares sold by the Distributor under this Agreement shall be sold at the net asset value per share (“Offering Price”) determined in the manner described in the Fund’s prospectus, as it may be amended from time to time.
Purchase of Shares from the Fund. (a) The Fund herewith engages Distributor to act as exclusive distributor of its shares. Said sales shall be made only to investors eligible to invest in a registered investment company consistent with such company's serving as an investment vehicle for variable annuities and variable life insurance company contracts. The Distributor will hold itself available to receive by mail, telex and/or telephone, orders for the purchase or redemption of shares and will accept or reject such orders on behalf of the Fund in accordance with the provisions of the Fund's prospectus, and will be available to transmit such orders as are so accepted to the Fund's transfer agent as promptly as possible for processing at the shares' net asset value next determined in accordance with the prospectus.
(b) All shares sold by the Distributor under this Agreement shall be sold at the net asset value per share ("Offering Price") determined in the manner described in the Fund's prospectus, as it may be amended from time to time.
Purchase of Shares from the Fund. 3.1 The Shares shall be sold by the Distributor as the agent of the Fund and delivered by the Distributor or the Dealers selected by the Distributor, as described in Section 6.4. hereof, to investors at the applicable offering price as set forth in the Prospectus.
3.2 The Fund shall have the right to suspend the sale of any or all classes of its Shares at times as may be determined by the Board. The Fund shall also have the right to suspend the sale of any or all classes of its Shares if a banking moratorium shall have been declared by federal or New Jersey authorities.
3.3 The Fund, or any agent of the Fund designated in writing by the Fund, shall be promptly advised of all purchase orders for Shares received by the Distributor. Any order may be rejected by the Fund; provided, however, that the Fund will not arbitrarily or without reasonable cause refuse to accept or confirm orders for the purchase of Shares. The Fund (or its agent) will confirm orders upon their receipt, will make appropriate book entries and upon receipt by the Fund (or its agent) of payment therefor, will deliver deposit receipts for such Shares pursuant to the instructions of the Distributor. Payment shall be made to the Fund in The Clearing House Association funds or federal funds. The Distributor agrees to cause such payment and such instructions to be delivered promptly to the Fund (or its agent).
