Common use of REPURCHASE OR REDEMPTION OF SHARES BY THE TRUST Clause in Contracts

REPURCHASE OR REDEMPTION OF SHARES BY THE TRUST. (a) Any of the outstanding shares may be tendered for redemption at any time, and the Trust agrees to redeem or repurchase the shares so tendered in accordance with its obligations as set forth in Section 2 of Article VI of its Agreement and Declaration of Trust and in accordance with the applicable provisions set forth in the Prospectus and Statement of Additional Information. The price to be paid to redeem or repurchase the shares shall be equal to the net asset value calculated in accordance with the provisions of Section 3(d) hereof. All payments by the Trust hereunder shall be made in the manner set forth below. (b) The Trust (or its agent) shall pay the total amount of the redemption price pursuant to the instructions of the Underwriter in New York Clearing House funds on or before the seventh business day subsequent to its having received the notice of redemption in proper form. (c) Redemption of shares of a Fund or payment by a Fund may be suspended at times when the New York Stock Exchange is closed, when trading thereon is closed, when trading thereon is restricted, when an emergency exists as a result of which disposal by such Fund of securities owned by it is not reasonably practicable or it is not reasonably practicable for the Trust fairly to determine the value of such Fund's net assets or during any other period when the Securities and Exchange Commission, by order, so permits.

REPURCHASE OR REDEMPTION OF SHARES BY THE TRUST. (a) Any of the outstanding shares may be tendered for redemption at any time, and the Trust agrees to redeem or repurchase the shares so tendered in accordance with its obligations as set forth in Section 2 of Article VI of its Agreement and Declaration of Trust and in accordance with the applicable provisions set forth in the Prospectus and Statement of Additional Information. The price to be paid to redeem or repurchase the shares shall be equal to the net asset value calculated in accordance with the provisions of Section 3(d) hereof. All payments by the Trust hereunder shall be made in the manner set forth below. (b) The Trust (or its agent) shall pay the total amount of the redemption price pursuant to the instructions of the Underwriter in New York Clearing House funds on or before the seventh business day subsequent to its having received the notice of redemption in proper form. (c) Redemption of shares of a Fund or payment by a Fund may be suspended at times when the New York Stock Exchange is closed, when trading thereon is closed, when trading thereon is restricted, when an emergency exists as a result of which disposal by such Fund of securities owned by it is not reasonably practicable or it is not reasonably practicable for the Trust fairly to determine the value of such Fund's ’s net assets or during any other period when the Securities and Exchange Commission, by order, so permits.

REPURCHASE OR REDEMPTION OF SHARES BY THE TRUST. (a) Any of the outstanding shares may be tendered for redemption at any time, and the Trust agrees to repurchase or redeem or repurchase the any such shares so tendered in accordance with its obligations as set forth in Section 2 of Article VI 4 of its Agreement and Declaration of Trust Trust, as amended from time to time, and in accordance with the applicable provisions set forth in the Prospectus and Registration Statement of Additional Informationthe Trust. The price to be paid to redeem or repurchase the shares shall be equal to the net asset value per share calculated in accordance with the provisions of Section 3(d3 (c) hereof. All payments by the Trust hereunder shall be made in the manner set forth below. (b) . The Trust (or its agent) shall pay the total amount of the redemption price as defined in the above paragraph pursuant to the instructions of the Underwriter Distributor in New York Clearing House funds on or before the seventh fourth business day subsequent to its having received the notice of redemption in proper form. (cb) Redemption of shares of a Fund or payment by a Fund thereof may be suspended at times when the New York Stock Exchange is closed, when trading thereon on said Exchange is closed, when trading thereon on said Exchange is restricted, when an emergency exists as a result of which disposal by such Fund the Trust of securities owned by it is not reasonably practicable or it for such Fund is not reasonably practicable for the Trust fairly to determine the value of such Fund's the net assets of the Fund, or during any other period when the Securities and Exchange CommissionSEC, by order, so permits.

REPURCHASE OR REDEMPTION OF SHARES BY THE TRUST. (a) Any of the outstanding shares may be tendered for redemption at any time, and the Trust agrees to repurchase or redeem or repurchase the any such shares so tendered in accordance with its it obligations as set forth in Section 2 of Article VI 4 of its Agreement and Declaration of Trust Trust, as amended from time to time, and in accordance with the applicable provisions set forth in the Prospectus and Registration Statement of Additional Informationthe Trust. The price to be paid to redeem or repurchase the shares shall be equal to the net asset value per share calculated in accordance with the provisions of Section 3(d3 (c) hereof. All payments by the Trust hereunder shall be made in the manner set forth below. (b) . The Trust (or its agent) shall pay the total amount of the redemption price as defined in the above paragraph pursuant to the instructions of the Underwriter Distributor in New York Clearing House funds or by federal funds wire on or before the seventh fourth business day subsequent to its having received the notice of redemption in proper form. (cb) Redemption of shares of a Fund or payment by a Fund thereof may be suspended at times when the New York Stock Exchange is closed, when trading thereon on said Exchange is closed, when trading thereon on said Exchange is restricted, when an emergency exists as a result of which disposal by such Fund the Trust of securities owned by it is not reasonably practicable or it for such Fund is not reasonably practicable for the Trust fairly to determine the value of such Fund's the net assets of the Fund, or during any other period when the Securities and Exchange CommissionSEC, by order, so permits.