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 of a Fund or class thereof 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 the Trust's Trust Instrument and in accordance with the applicable provisions set forth in the Prospectus and SAI relating to the Shares of the Fund. The price to be paid to redeem or repurchase the Shares of a Fund shall be equal to the net asset value calculated in accordance with the provisions of Section 3(b) hereof less, in the case of Shares for which a deferred sales charge is assessed, a deferred sales charge equal to a specified percentage or percentages of the net asset value of those Shares as from time to time set forth in the Prospectus relating to those Shares (or, in the case of Exchange Shares of RCIF, relating to Exchange Shares and the original B Shares) or their cost (or, in the case of Exchange Shares of RCIF, the cost of the B Shares of a Fund that were first purchased by the shareholder and then exchanged, either directly or indirectly through a series of exchanges, for the Exchange Shares (the "Original B Shares")), whichever is less. Shares of a Fund or class thereof for which a deferred sales charge may be assessed and that have been outstanding for a specified period of time may be redeemed without payment of a deferred sales charge as from time to time set forth in the Prospectus relating to those Shares (or, in the case of Exchange Shares of RCIF, relating to the Original B Shares). All payments by the Trust hereunder shall be made in the manner set forth below.

REPURCHASE OR REDEMPTION OF SHARES BY THE TRUST. (a) a. Any of the outstanding Shares of a Fund or class thereof may be tendered for redemption at any time, and the Trust each Fund agrees to repurchase or redeem or repurchase the Shares so tendered in accordance with its obligations as set forth in Article VI of the Trust's Trust Instrument Agreement and Declaration of Trust, as amended from time to time, and in accordance with the applicable provisions set forth in the Prospectus prospectus and SAI statement of additional information relating to the Shares of the applicable Fund. The price to be paid to redeem or repurchase the Shares of a Fund shall be equal to the net asset value calculated in accordance with the provisions of Section 3(b3(e) hereof less, (or in the case of Shares for which a redemption on the Guarantee Maturity Date (as defined in each Fund's prospectus) at the redeeming shareholder's Guaranteed Amount (as defined in each Fund's prospectus)), less any contingent deferred sales charge is assessed("CDSC"), a deferred sales charge equal to a specified percentage redemption fee or percentages of the net asset value of those Shares as from time to time other charge(s), if any, set forth in the Prospectus relating to those Shares (or, in the case prospectus and statement of Exchange Shares of RCIF, relating to Exchange Shares and the original B Shares) or their cost (or, in the case of Exchange Shares of RCIF, the cost of the B Shares of a Fund that were first purchased by the shareholder and then exchanged, either directly or indirectly through a series of exchanges, for the Exchange Shares (the "Original B Shares")), whichever is less. Shares of a Fund or class thereof for which a deferred sales charge may be assessed and that have been outstanding for a specified period of time may be redeemed without payment of a deferred sales charge as from time to time set forth in the Prospectus relating to those Shares (or, in the case of Exchange Shares of RCIF, additional information relating to the Original B Shares)applicable Fund. All payments by the Trust a Fund hereunder shall be made in the manner set forth below. The redemption or repurchase by a Fund of any of the Shares purchased by or through the Distributor will not affect the sales charge secured by the Distributor or any financial intermediary in the course of the original sale, except that if any Shares are tendered for redemption or repurchase within seven business days after the date of the confirmation of the original purchase, the right to the sales charge shall be forfeited by the Distributor and the financial intermediary that sold such Shares.