Common use of Registration of Mutual Funds Clause in Contracts

Registration of Mutual Funds. All Mutual Fund shares will be registered in the name of the Custodian and will be issued and accounted for as book entry shares; no physical shares or share certificates will be issued. You will be the beneficial owner of Mutual Fund shares held for Your Account. Your beneficial interest in each Mutual Fund may be accounted for on your statements using unit values, rather than share numbers, in which case reinvested dividends will be reflected as increases in Your unit values.

Registration of Mutual Funds. All Mutual Fund shares will be registered in the name of the Custodian and will be issued and accounted for as book entry shares; no physical shares or share certificates will be issued. You The Participant will be the beneficial owner of Mutual Fund shares held for Your the Participant’s Account. Your The Participant’s beneficial interest in each Mutual Fund may be accounted for on your the Participant’s statements using unit values, rather than share numbers, in which case reinvested dividends will be reflected as increases in Your the unit values.