Common use of Purchases and Redemptions Clause in Contracts

Purchases and Redemptions. 1. Conversion of monies to Federal funds 2. Prepare and transmit by mail to each shareholder, confirmations as may be required by law of all purchases and redemptions of Fund Shares effected through OSI 3. Assist the Trust’s transfer agent to prepare and transmit by mail to each shareholder periodic statements reflecting all purchases, dividends and redemption of Fund Shares 4. Receive, ascertain the adequacy of, and transmit to the Trust’s transfer agent all purchase orders or redemption requests received by OSI in accordance with the requirements set forth in the current prospectus of the Fund 5. Requisition from the Trust’s custodian and remit the proceeds of redemption as directed by the individual shareholder in accordance with the current prospectus of the Fund