Common use of Redemption of Shares by the Fund Clause in Contracts

Redemption of Shares by the Fund. (a) Any of the outstanding Shares may be tendered for redemption at any time, and the Fund agrees to redeem the Shares so tendered in accordance with its obligations as set forth in the Prospectus and Statement of Additional Information. Requests for redemption from holders of Shares shall be submitted to the Distributor, Authorized Dealers or to the Fund (or its agent) in accordance with the applicable provisions set forth in the Prospectus. The price to be paid to redeem the Shares shall be equal to the net asset value calculated in accordance with the provisions of Section 3(d) hereof less any contingent deferred sales charge that may be applicable in accordance with the Prospectus. All payments by the Fund (or its agent) hereunder shall be made in accordance with the instructions of the Distributor or redeeming stockholder on or before the seventh day subsequent to the receipt by the Distributor or the Fund (or its agent) of a request for redemption in proper form unless the Shares were recently purchased, in which case the redemption proceeds will not be sent until the check received for the Shares purchased has cleared.

Redemption of Shares by the Fund. (a) Any of the outstanding Shares may be tendered for redemption at any time, and the Fund agrees to redeem the Shares so tendered in accordance with its obligations as set forth in the Prospectus and Statement of Additional Information. Requests for redemption from holders of Shares shall be submitted to the Distributor, Authorized Dealers or to the Fund (or its agent) in accordance with the applicable provisions set forth in the Prospectus. The price to be paid to redeem the Shares shall be equal to the net asset value calculated in accordance with the provisions of Section 3(d) hereof less any contingent deferred sales charge that may be applicable in accordance with the Prospectus. All payments by the Fund (or its agent) hereunder shall be made in accordance with the instructions of the Distributor or redeeming stockholder shareholder on or before the seventh day subsequent to the receipt by the Distributor or the Fund (or its agent) of a request for redemption in proper form unless the Shares were recently purchased, in which case the redemption proceeds will not be sent until the check received for the Shares purchased has cleared.