Reduced Sales Charge Clause Samples
A Reduced Sales Charge clause provides for a lower fee or commission on the sale of certain products or securities, typically when specific conditions are met. This reduction may apply when a buyer purchases in larger quantities, combines purchases within a family of funds, or meets other qualifying criteria set by the seller or issuer. The core function of this clause is to incentivize larger or aggregated purchases by offering cost savings, thereby making the investment more attractive and accessible to buyers while potentially increasing overall sales volume for the seller.
Reduced Sales Charge. Any sales charges and dealer concessions or commissions are subject to reduction under a variety of circumstances as described in each Fund's then current Prospectus. For an investor to obtain any reduction, Distributor must be notified at the time of the sale that the sale qualifies for the reduced sales charge. If Dealer fails to notify Distributor of the applicability of a reduction in the sales charge at the time the trade is placed, neither Distributor nor any Fund will be liable for amounts necessary to reimburse any investor for the reduction that should have been affected.
Reduced Sales Charge. Complete this section if you qualify for a reduced sales charge. See Prospectus for Terms & Conditions.
Reduced Sales Charge. (a) In the case of any Fund shares sold with a sales charge, customers may be entitled to a reduction in the sales charge on purchases made under a letter of intent ("Letter of Intent") in accordance with the Fund Prospectus. In such case, our reallowance will be paid based upon the reduced sales charge, but an adjustment will be made in accordance with the Prospectus of the applicable Fund to reflect actual purchases of the customer if such customer's Letter of Intent is not fulfilled. The sales charge and/or reallowance may be changed at any time in your sole discretion upon written notice to us.
(b) Subject to and in accordance with the terms of the Prospectus of each Fund sold with a sales charge, a reduced sales charge may be applicable with respect to customer accounts through a right of
7/01 accumulation under which customers are permitted to purchase shares of a Fund at the then current public offering price per share applicable to the total of (i) the dollar amount of shares then being purchased plus (ii) an amount equal to the then current net asset value or public offering price originally paid per share, whichever is higher, of the customer's combined holdings of the shares of such Fund and of any other open-end registered investment company as may be permitted by the applicable Fund Prospectus. In such case, we agree to furnish to you or the Transfer Agent, sufficient information to permit your confirmation of qualification for a reduced sales charge, and acceptance of the purchase order is subject to such confirmation.
(c) With respect to Fund shares sold with a sales charge, we agree to advise you promptly at your request as to amounts of any and all purchases of Fund shares made by us, as agent for our customers, qualifying for a reduced sales charge.
(d) Exchanges (i.e., the investment of the proceeds from the liquidation of shares of one open-end registered investment company managed, advised or administered by The Dreyfus Corporation or its subsidiaries or affiliates in the shares of another open-end registered investment company managed, advised or administered by The Dreyfus Corporation or its subsidiaries or affiliates) shall, where available, be made subject to and in accordance with the terms of each relevant Fund's Prospectus.
(e) Unless at the time of transmitting an order we advise you or the Transfer Agent to the contrary, the shares ordered will be deemed to be the total holdings of the specified customer.
Reduced Sales Charge. Class A Only
Reduced Sales Charge. You understand that based upon the disclosures outlined above, the fund prospectus and discussions with your Financial Professional, that by purchasing Class “A” shares, you may be able to obtain a reduced sales charge through volume discounts (breakpoints) or through agreement to purchase larger amounts over a set period of time (letter of intent). IMPORTANT DISCLOSURES RELATED TO MUTUAL FUND AND VARIABLE ANNUITY REVENUE/MARKETING/EDUCATION ALLOWANCE Other Expense Reimbursements: PAS and/or your Financial Professional may be reimbursed by the mutual fund and/or variable annuity companies or their affiliates or other service providers for the expenses PAS and/or your Financial Professional may incur for various sales meetings, seminars, and conferences held in the normal course of business. Although mutual fund and variable annuity companies independently decide what they will spend on these activities, we are aware that some mutual fund/variable annuity companies allocate their promotional budgets based upon prior sales and asset levels and that they work with our branch offices or Financial Professionals to plan promotional and educational activities on the basis of such budgets. We do not control how mutual fund/variable annuity companies allocate their promotional budgets or their spending decisions in this regard. INVESTMENT CERTIFICATIONS
A. You understand that securities investing involves risks and that many variables, including but not limited to market and economic fluctuations, may have a substantial negative effect on the value of your securities positions. Furthermore, you represent to PAS that you are willing to assume these risks and that you are in fact financially able to bear these risks. You also understand that you have an affirmative obligation to promptly notify PAS in writing should your financial condition adversely change or should your investment objectives differ from what you initially or subsequently provided to your Financial Professional.
B. You will review the current Prospectus and/or Memorandum (“Offering Document”) that fully describes the investment, including potential risks and costs, prior to purchasing an interest in a partnership, mutual fund, variable product, unit investment trust or any other securities issue.
C. You understand that when purchasing interests in a mutual fund, it is normally advisable to take advantage of any available quantity discount privilege (“breakpoint level”) as discussed in the applicable...