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. The Participant will be the beneficial owner of Mutual Fund shares held for the Participant’s Account. The Participant’s beneficial interest in each Mutual Fund may be accounted for on the Participant’s statements using unit values, rather than share numbers, in which case reinvested dividends will be reflected as increases in the 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. The Participant You will be the beneficial owner of Mutual Fund shares held for the Participant’s Your Account. The Participant’s Your beneficial interest in each Mutual Fund may be accounted for on the Participant’s your statements using unit values, rather than share numbers, in which case reinvested dividends will be reflected as increases in the Your unit values.