Common use of Repurchases of Shares Clause in Contracts

Repurchases of Shares. Repurchases of Shares will be made at the net asset value per Share in accordance with the Fund’s applicable repurchase offer, then-current prospectus and Rule 23c-3 under the 1940 Act. If a fee in connection with any repurchase offer is in effect, such fee will be paid to the Fund. The net asset value of Shares will be calculated by the Fund or by another entity on behalf of the Fund. The Distributor has no duty to inquire into, or liability for, the accuracy of the net asset value per Share as calculated or the Fund’s compliance with any periodic repurchase offer in accordance with Rule 23c-3 under the 1940 Act. The proceeds of any repurchase of Shares shall be paid to the Fund to or for the account of any shareholder in accordance with the applicable provisions of the then-current prospectus.