Common use of Requirements for Transfer or Redemption of Shares Clause in Contracts

Requirements for Transfer or Redemption of Shares. The Transfer Agent shall process all requests from Shareholders to transfer or redeem Shares in accordance with the procedures set forth in the Prospectus and all determinations of the number of Shares required to be redeemed to fund designated monthly payments, automatic payments, or any other such distribution or withdrawal plan. The Transfer Agent will transfer or redeem Shares upon receipt of Written Instructions and Share certificates, if any, properly endorsed for transfer or redemption, accompanied by such documents as the Transfer Agent reasonably may deem necessary to evidence the authority of the person making such transfer or redemption, and bearing satisfactory evidence of the payment of stock transfer taxes, if any. Except to the extent inconsistent with the procedures set forth in the Prospectus, the Transfer Agent reserves the right to refuse to transfer or redeem Shares until it is satisfied that the endorsement on the instructions is valid and genuine, and for that purpose it will require a guarantee of signature by a member firm of a national securities exchange, by any national bank or trust company, or by any member bank of the Federal Reserve system. The Transfer Agent also reserves the right to refuse to transfer or redeem Shares until it is satisfied that the requested transfer or redemption is legally authorized, and it shall incur no liability for the refusal, in good faith, to make transfers or redemptions which the Transfer Agent, in its good judgment, deems improper or unauthorized, or until it is reasonably satisfied that there is no basis to any claims adverse to such transfer or redemption. The Transfer Agent may, in effecting transactions, rely upon the provisions of the Uniform Act for the Simplification of Fiduciary Security Transfers or the provisions of Article 8 of the Uniform Commercial Code, as the same may be amended from time to time in the State of North Dakota, which in the opinion of legal counsel for the Fund or of its own legal counsel protect it in not requiring certain documents in connection with the transfer or redemption of Shares. The Fund may authorize the Transfer Agent to waive the signature guarantee in certain cases by Written Instructions. For the purpose of the redemption of Shares which have been purchased within 15 days of a redemption request, the Transfer Agent may refuse to redeem such Shares until the Transfer Agent has received fed funds for the purchase of such Shares.

Requirements for Transfer or Redemption of Shares. The Transfer Agent shall process all requests from Shareholders shareholders to transfer or redeem Shares shares of each Fund in accordance with the procedures set forth in the Prospectus for the Fund, including, but not limited to, all requests from shareholders to redeem shares and all determinations of the number of Shares shares required to be redeemed to fund designated monthly payments, automatic payments, or any other such distribution or withdrawal plan. The Transfer Agent will transfer or redeem Shares shares upon receipt of Written Instructions and Share certificates, if any, properly endorsed for transfer or redemptionwritten instructions, accompanied by such documents as the Transfer Agent reasonably may deem necessary to evidence the authority of the person making such transfer or redemption, and bearing satisfactory evidence of the payment of stock transfer taxes, if any. Except to the extent inconsistent with the procedures set forth in the Prospectus, the Transfer The Agent reserves the right to refuse to transfer or redeem Shares shares until it is satisfied that the endorsement on the instructions is valid and genuine, and for that purpose it will may require a guarantee of signature by a member firm of a national securities exchange, by any national bank or trust company, or by any member bank of the Federal Reserve systemsystem or by other eligible guarantor institution. The Transfer Agent also reserves the right to refuse to transfer or redeem Shares shares until it is satisfied that the requested transfer or redemption is legally authorized, and it shall incur no liability for the refusal, in good faith, to make transfers or redemptions which the Transfer Agent, in its good judgment, deems improper or unauthorized, or until it is reasonably satisfied that there is no basis to any claims adverse to such transfer or redemption. The Transfer Agent may, in effecting transactions, rely upon the provisions of the Uniform Act for the Simplification of Fiduciary Security Transfers or the provisions of Article 8 of the Uniform Commercial Code, as the same may be amended from time to time in the State Commonwealth of North DakotaVirginia, which which, in the opinion of legal counsel for the Fund Trust or of its own legal counsel protect it in not requiring certain documents in connection with the transfer or redemption of Sharesshares. The Fund Trust may authorize the Transfer Agent to waive the signature guarantee in certain cases by Written Instructionswritten instructions. For the purpose purposes of the redemption of Shares shares of the Funds which have been purchased within 15 days of a redemption request, the Transfer Trust shall provide the Agent with written instructions concerning the time within which such requests may refuse to redeem such Shares until the Transfer Agent has received fed funds for the purchase of such Sharesbe honored.

Requirements for Transfer or Redemption of Shares. The Transfer -------------------------------------------------- Agent shall process all requests from Shareholders shareholders to transfer or redeem Shares in accordance with the procedures set forth in the Trust's Prospectus or as authorized by the Trust pursuant to Written Instructions, including, but not limited to, all requests from shareholders to redeem Shares of each Portfolio and all determinations of the number of Shares required to be redeemed to fund designated monthly payments, automatic payments, payments or any other such distribution or withdrawal plan. The Transfer Agent will transfer or redeem Shares upon receipt of Written Instructions and Share certificates, if any, properly endorsed for transfer or redemption, accompanied by such documents as the Transfer Agent reasonably may deem necessary to evidence the authority of the person making such transfer or redemption, and bearing satisfactory evidence of the payment of stock transfer taxes, if any. Except to the extent inconsistent with the procedures set forth in the Prospectus, the The Transfer Agent reserves the right to refuse to transfer or redeem Shares until it is satisfied that the endorsement on the instructions is valid and genuine, and for that purpose it will require a guarantee of signature by a member firm of a national securities exchange, by any national bank or trust company, company or by any member bank of the Federal Reserve system. The Transfer Agent also reserves the right to refuse to transfer or redeem Shares until it is satisfied that the requested transfer or redemption is legally authorized, and it shall incur no liability for the refusal, in good faith, to make transfers or redemptions which the Transfer Agent, in its good judgmentjudgement, deems improper or unauthorized, or until it is reasonably satisfied that there is no basis to any claims adverse to such transfer or redemption. The Transfer Agent may, in effecting transactions, rely upon the provisions of the Uniform Act for the Simplification of Fiduciary Security Transfers or the provisions of Article 8 of the Uniform Commercial Code, as the same may be amended from time to time in the State Commonwealth of North DakotaMassachusetts, which in the opinion of legal counsel for the Fund Trust or of its own legal counsel protect it in not requiring certain documents in connection with the transfer or redemption of Shares. The Fund Trust may authorize the Transfer Agent to waive the signature guarantee in certain cases by Written Instructions. For the purpose of the redemption of Shares of each Portfolio which have been purchased within 15 days of a redemption request, the Transfer Agent may refuse to redeem such Shares until Trust shall provide the Transfer Agent has received fed funds for with Written Instructions (see Exhibit 2 hereto) concerning the purchase of time within which such Sharesrequests may be honored.

Requirements for Transfer or Redemption of Shares. The Transfer Agent shall process all requests from Shareholders shareholders to transfer or redeem Shares shares of each Fund in accordance with the procedures set forth in the Prospectus for the Fund, including, but not limited to, all requests from shareholders to redeem shares and all determinations of the number of Shares shares required to be redeemed to fund designated monthly payments, automatic payments, or any other such distribution or withdrawal plan. The Transfer Agent will transfer or redeem Shares shares upon receipt of Written Instructions and Share certificates, if any, properly endorsed for transfer or redemptionwritten instructions, accompanied by such documents as the Transfer Agent reasonably may deem necessary to evidence the authority of the person making such transfer or redemption, and bearing satisfactory evidence of the payment of stock transfer taxes, if any. Except to the extent inconsistent with the procedures set forth in the Prospectus, the Transfer The Agent reserves the right to refuse to transfer or redeem Shares shares until it is satisfied that the endorsement on the instructions is valid and genuine, and for that purpose it will may require a guarantee of signature by a member firm of a national securities exchange, by any national bank or trust company, or by any member bank of the Federal Reserve systemsystem or by other eligible guarantor institution. The Transfer Agent also reserves the right to refuse to transfer or redeem Shares shares until it is satisfied that the requested transfer or redemption is legally authorized, and it shall incur no liability for the refusal, in good faith, to make transfers or redemptions which the Transfer Agent, in its good judgment, deems improper or unauthorized, or until it is reasonably satisfied that there is no basis to any claims adverse to such transfer or redemption. The Transfer Agent may, in effecting transactions, rely upon the provisions of the Uniform Act for the Simplification of Fiduciary Security Transfers or the provisions of Article 8 of the Uniform Commercial Code, as the same may be amended from time to time in the State of North DakotaNew York, which which, in the opinion of legal counsel for the Fund Trust or of its own legal counsel protect it in not requiring certain documents in connection with the transfer or redemption of Sharesshares. The Fund Trust may authorize the Transfer Agent to waive the signature guarantee in certain cases by Written Instructionswritten instructions. For the purpose purposes of the redemption of Shares shares of the Funds which have been purchased within 15 days of a redemption request, the Transfer Trust shall provide the Agent with written instructions concerning the time within which such requests may refuse to redeem such Shares until the Transfer Agent has received fed funds for the purchase of such Sharesbe honored.

Requirements for Transfer or Redemption of Shares. The Transfer Agent Ivy Management shall process all requests from Shareholders shareholders to transfer or redeem Shares in accordance with the procedures set forth in the Trust's Prospectus or as authorized by the Trust pursuant to Written Instructions, including, but not limited to, all requests from shareholders to redeem Shares of each Fund and all determinations of the number of Shares required to be redeemed to fund designated monthly payments, automatic payments, payments or any other such distribution or withdrawal plan. The Transfer Agent Ivy Management will transfer or redeem Shares upon receipt of Written Instructions and Share certificates, if any, properly endorsed for transfer or redemption, accompanied by such documents as the Transfer Agent Ivy Management reasonably may deem necessary to evidence the authority of the person making such transfer or redemption, and bearing satisfactory evidence of the payment of stock transfer taxes, if any. Except to the extent inconsistent with the procedures set forth in the Prospectus, the Transfer Agent Ivy Management reserves the right to refuse to transfer or redeem Shares until it is satisfied that the endorsement on the instructions is valid and genuine, and for that purpose it will require a guarantee of signature by a member firm of a national securities exchange, guarantor meeting eligibility standards as may be adopted by any national bank or trust company, or by any member bank of the Federal Reserve systemIvy Management from time to time in accordance with applicable law. The Transfer Agent Ivy Management also reserves the right to refuse to transfer or redeem Shares until it is satisfied that the requested transfer or redemption is legally authorized, and it shall incur no liability for the refusal, in good faith, to make transfers or redemptions which the Transfer AgentIvy Management, in its good judgment, deems improper or unauthorized, or until it is reasonably satisfied that there is no basis to any claims adverse to such transfer or redemption. The Transfer Agent Ivy Management may, in effecting transactions, rely upon the provisions of the Uniform Act for the Simplification of Fiduciary Security Transfers or the provisions of Article 8 of the Uniform Commercial Code, as the same may be amended from time to time in the State Commonwealth of North DakotaMassachusetts, which in the opinion of legal counsel for the Fund Trust or of its own legal counsel protect it in not requiring certain documents in connection with the transfer or redemption of Shares. The Fund Trust may authorize the Transfer Agent Ivy Management to waive the signature guarantee in certain cases by Written Instructions. For the purpose of the redemption of Shares which have been purchased within 15 days of a redemption request, the Transfer Agent may refuse to redeem such Shares until the Transfer Agent has received fed funds for the purchase of such Shares.

Requirements for Transfer or Redemption of Shares. The Transfer Agent shall process all requests from Shareholders to transfer or redeem Shares in accordance with the procedures set forth in the Prospectus and all determinations of the number of Shares required to be redeemed to fund designated monthly payments, automatic payments, or any other such distribution or withdrawal plan. The Transfer Agent will transfer or redeem Shares upon receipt of Written Instructions and Share certificates, if any, properly endorsed for transfer or redemption, accompanied by such documents as the Transfer Agent reasonably may deem necessary to evidence the authority of the person making such transfer or redemption, and bearing satisfactory evidence of the payment of stock transfer taxes, if any. Except to the extent inconsistent with the procedures set forth in the Prospectus, the Transfer Agent reserves the right to refuse to transfer or redeem Shares until it is satisfied that the endorsement on the instructions is valid and genuine, and for that purpose it will require a guarantee of signature by a member firm of a national securities exchange, by any national bank or trust company, or by any member bank of the Federal Reserve system. The Transfer Agent also reserves the right to refuse to transfer or redeem Shares until it is satisfied that the requested transfer or redemption is legally authorized, and it shall incur no liability for the refusal, in good faith, to make transfers or redemptions which the Transfer Agent, in its good judgment, deems improper or unauthorized, or until it is reasonably satisfied that there is no basis to any claims adverse to such transfer or redemptionredemp­tion. The Transfer Agent may, in effecting transactions, rely upon the provisions of the Uniform Act for the Simplification of Fiduciary Security Transfers or the provisions of Article 8 of the Uniform Commercial Code, as the same may be amended from time to time in the State of North Dakota, which in the opinion of legal counsel for the Fund or of its own legal counsel protect it in not requiring certain documents in connection with the transfer or redemption of Shares. The Fund may authorize the Transfer Agent to waive the signature guarantee in certain cases by Written Instructions. For the purpose of the redemption of Shares which have been purchased within 15 days of a redemption request, the Transfer Agent may refuse to redeem such Shares until the Transfer Agent has received fed funds for the purchase of such Shares. For the purpose of the redemption of Shares which have been purchased within 15 days of a redemption request, the Transfer Agent may refuse to redeem such Shares until the Transfer Agent has received fed funds for the purchase of such Shares.

Requirements for Transfer or Redemption of Shares. The Transfer Agent shall process all requests from Shareholders shareholders to transfer or redeem Shares shares in accordance with the procedures set forth in the Prospectus Fund's Prospectus, including, but not limited to, all requests from shareholders to redeem shares and all determinations of the number of Shares shares required to be redeemed to fund designated monthly payments, automatic payments, or any other such distribution or withdrawal plan. The Transfer Agent will transfer or redeem Shares shares upon receipt of Written Instructions and Share certificates, if any, properly endorsed for transfer or redemptionwritten instructions, accompanied by such documents as the Transfer Agent reasonably may deem necessary to evidence the authority of the person making such transfer or redemption, and bearing satisfactory evidence of the payment of stock transfer taxes, if any. Except to the extent inconsistent with the procedures set forth in the Prospectus, the Transfer The Agent reserves the right to refuse to transfer or redeem Shares shares until it is satisfied that the endorsement on the instructions is valid and genuine, and for that purpose it will may require a guarantee of signature by a member firm of a national securities exchange, by any national bank or trust company, or by any member bank of the Federal Reserve systemsystem or by other eligible guarantor institution. The Transfer Agent also reserves the right to refuse to transfer or redeem Shares shares until it is satisfied that the requested transfer or redemption is legally authorized, and it shall incur no liability for the refusal, in good faith, to make transfers or redemptions which the Transfer Agent, in its good judgment, deems improper or unauthorized, or until it is reasonably satisfied that there is no basis to any claims adverse to such transfer or redemption. The Transfer Agent may, in effecting transactions, rely upon the provisions of the Uniform Act for the Simplification of Fiduciary Security Transfers or the provisions of Article 8 of the Uniform Commercial Code, as the same may be amended from time to time in the State of North DakotaNew York, which which, in the opinion of legal counsel for the Fund Trust or of its own legal counsel protect it in not requiring certain documents in connection with the transfer or redemption of Sharesshares. The Fund Trust may authorize the Transfer Agent to waive the signature guarantee in certain cases by Written Instructionswritten instructions. For the purpose purposes of the redemption of Shares shares of the Fund which have been purchased within 15 days of a redemption request, the Transfer Trust shall provide the Agent with written instructions concerning the time within which such requests may refuse to redeem such Shares until the Transfer Agent has received fed funds for the purchase of such Sharesbe honored.

Requirements for Transfer or Redemption of Shares. The Transfer Agent shall process all requests from Shareholders to transfer or redeem Shares in accordance with the procedures set forth in the Prospectus and all determinations of the number of Shares required to be redeemed to fund designated monthly payments, automatic payments, or any other such distribution or withdrawal plan. The Transfer Agent will transfer or redeem Shares upon receipt of Written Instructions and Share certificates, if any, properly endorsed for transfer or redemption, accompanied by such documents as the Transfer Agent reasonably may deem necessary to evidence the authority of the person making such transfer or redemption, and bearing satisfactory evidence of the payment of stock transfer taxes, if any. Except to the extent inconsistent with the procedures set forth in the Prospectus, the Transfer Agent reserves the right to refuse to transfer or redeem Shares until it is satisfied that the endorsement on the instructions is valid and genuine, and for that purpose it will require a guarantee of signature by a member firm of a national securities exchange, by any national bank or trust company, or by any member bank of the Federal Reserve system. The Transfer Agent also reserves the right to refuse to transfer or redeem Shares until it is satisfied that the requested transfer or redemption is legally authorized, and it shall incur no liability for the refusal, in good faith, to make transfers or redemptions which the Transfer Agent, in its good judgment, deems improper or unauthorized, or until it is reasonably satisfied that there is no basis to any claims adverse to such transfer or redemptionredemp­tion. The Transfer Agent may, in effecting transactions, rely upon the provisions of the Uniform Act for the Simplification of Fiduciary Security Transfers or the provisions of Article 8 of the Uniform Commercial Code, as the same may be amended from time to time in the State of North Dakota, which in the opinion of legal counsel for the Fund or of its own legal counsel protect it in not requiring certain documents in connection with the transfer or redemption of Shares. The Fund may authorize the Transfer Agent to waive the signature guarantee in certain cases by Written Instructions. For the purpose of the redemption of Shares which have been purchased within 15 days of a redemption request, the Transfer Agent may refuse to redeem such Shares until the Transfer Agent has received fed funds for the purchase of such Shares.

Requirements for Transfer or Redemption of Shares. The Transfer Agent shall process all requests from Shareholders shareholders to transfer or redeem Shares in accordance with the procedures set forth in the Prospectus Fund's Prospectus, including, but not limited to, all requests from shareholders to redeem Shares of the Fund and all determinations of the number of Shares required to be redeemed to fund designated monthly payments, automatic payments, payments or any other such distribution or withdrawal plan. The Transfer Agent will transfer or redeem Shares upon receipt of Written Instructions and Share certificates, if any, properly endorsed for transfer or redemption, accompanied by such documents as the Transfer Agent reasonably may nay deem necessary to evidence the authority of the person making such transfer or redemption, and bearing satisfactory evidence of the payment of stock transfer taxes, if any. Except to the extent inconsistent with the procedures set forth in the Prospectus, the The Transfer Agent reserves the right to refuse to transfer or redeem Shares until it is satisfied that the endorsement on the instructions is valid and genuine, and for that purpose it will require a guarantee of signature by a member firm of a national securities exchange, by any national bank or trust company, company or by any member bank of the Federal Reserve system, except that signature guarantees are not required on some redemptions as specified in the Fund's Prospectus. The Transfer Agent also reserves the right to refuse to transfer or redeem Shares until it is satisfied that the requested transfer or redemption is legally authorized, and it shall incur no liability for the refusal, in good faith, to make transfers or redemptions which the Transfer Agent, in its good judgmentjudgement, deems improper or unauthorized, or until it is reasonably satisfied that there is no basis to any claims adverse to such transfer or redemption. The Transfer Agent may, in effecting transactions, rely upon the provisions of the Uniform Act for the Simplification of Fiduciary Security Transfers or the provisions of Article 8 of the Uniform Commercial Code, as the same sane may be amended from time to time in the State Commonwealth of North DakotaMassachusetts, which in the opinion of legal counsel for the Fund or of its own legal counsel protect it in not requiring certain documents in connection with the transfer or redemption of Shares. The Fund may authorize the Transfer Agent to waive the signature guarantee in certain cases by Written Instructions. For the purpose of the redemption of Shares of which have been purchased within 15 7 days of a redemption request, the Transfer Agent may refuse to redeem such Shares until Fund shall provide the Transfer Agent has received fed funds for with Written Instructions (see Exhibit 2 hereto) concerning the purchase of time within which such Sharesrequests may be honored.

Requirements for Transfer or Redemption of Shares. The Transfer Agent shall process all requests from Shareholders to transfer or redeem Shares in accordance with the procedures set forth in the Prospectus and all determinations of the number of Shares required to be redeemed to fund designated monthly payments, automatic payments, or any other such distribution or withdrawal plan. The Transfer Agent will transfer or redeem Shares upon receipt of Written Instructions and Share certificates, if any, properly endorsed for transfer or redemption, accompanied by such documents as the Transfer Agent reasonably may deem necessary to evidence the authority of the person making such transfer or redemption, and bearing beating satisfactory evidence of the payment of stock transfer taxes, if any. Except to the extent inconsistent with the procedures set forth in the Prospectus, the Transfer Agent reserves the right fight to refuse to transfer or redeem Shares until it is satisfied that the endorsement endorse- ment on the instructions is valid and genuine, and for that purpose it will require a guarantee of signature by a member firm of a national securities exchange, by any national bank or trust company, or by any member bank of the Federal Reserve system. The Transfer Agent also reserves the right to refuse to transfer or redeem Shares until it is satisfied that the requested transfer or redemption is legally authorized, and it shall incur no liability for the refusal, in good faith, to make transfers or redemptions which the Transfer Agent, in its good judgment, deems improper or unauthorized, or until it is reasonably satisfied that there is no basis to any claims adverse to such transfer or redemption. The Transfer Agent may, in effecting transactions, rely upon the provisions of the Uniform Act for the Simplification of Fiduciary Security Transfers or the provisions of Article 8 of the Uniform Commercial Code, as the same may be amended from time to time in the State of North Dakota, which in the opinion of legal counsel for the Fund or of its own legal counsel protect it in not requiring certain documents in connection with the transfer or redemption of Shares. The Fund may authorize the Transfer Agent to waive the signature guarantee in certain cases by Written Instructions. For the purpose of the redemption of Shares which have been purchased within 15 days of a redemption request, the Transfer Agent may *refuse to redeem such Shares until the Transfer Agent has received fed funds for the purchase of such Shares.

Requirements for Transfer or Redemption of Shares. The Transfer Agent shall process all requests from Shareholders to transfer or redeem Shares in accordance with the procedures set forth in the Prospectus and all determinations of the number of Shares required to be redeemed to fund designated monthly payments, automatic payments, or any other such distribution or withdrawal plan. The Transfer Agent will transfer or redeem Shares upon receipt of Written Instructions and Share certificates, if any, properly endorsed for transfer or redemption, accompanied by such documents as the Transfer Agent reasonably may deem necessary to evidence the authority of the person making such transfer or redemption, and bearing satisfactory evidence of the payment of stock transfer taxes, if any. Except to the extent inconsistent with the procedures set forth in the Prospectus, the Transfer Agent reserves the right to refuse to transfer or redeem Shares until it is satisfied that the endorsement endorse- ment on the instructions is valid and genuine, and for that purpose it will require a guarantee of signature by a member firm of a national securities exchange, by any national bank or trust company, or by any member bank of the Federal Reserve system. The Transfer Agent also reserves the right to refuse to transfer or redeem Shares until it is satisfied that the requested transfer or redemption is legally authorized, and it shall incur no liability for the refusal, in good faith, to make transfers or redemptions which the Transfer Agent, in its good judgment, deems improper or unauthorized, or until it is reasonably satisfied that there is no basis to any claims adverse to such transfer or redemption. The Transfer Agent may, in effecting transactions, rely upon the provisions of the Uniform Act for the Simplification of Fiduciary Security Transfers or the provisions of Article 8 of the Uniform Commercial Code, as the same may be amended from time to time in the State of North Dakota, which in the opinion of legal counsel for the Fund or of its own legal counsel protect it in not requiring certain documents in connection with the transfer or redemption of Shares. The Fund may authorize the Transfer Agent to waive the signature guarantee in certain cases by Written Instructions. For the purpose of the redemption of Shares which have been purchased within 15 days of a redemption request, the Transfer Agent may refuse to redeem such Shares until the Transfer Agent has received fed funds for the purchase of such Shares.

Requirements for Transfer or Redemption of Shares. The Transfer Agent shall process all requests from Shareholders to transfer or redeem Shares in accordance with the procedures set forth in the Prospectus and all determinations of the number of Shares required to be redeemed to fund designated monthly payments, automatic payments, or any other such distribution or withdrawal plan. The Transfer Agent will transfer or redeem Shares upon receipt of Written Instructions and Share certificates, if any, properly endorsed for transfer or redemption, accompanied by such documents as the Transfer Agent reasonably may deem necessary to evidence the authority of the person making such transfer or redemption, and bearing meeting satisfactory evidence of the payment of stock transfer taxes, if any. Except to the extent inconsistent with the procedures set forth in the Prospectus, the Transfer Agent reserves the right to refuse to transfer or redeem Shares until it is satisfied that the endorsement on the instructions is valid and genuine, and for that purpose it will require a guarantee of signature by a member firm of a national securities exchange, by any national bank or trust company, or by any member bank of the Federal Reserve system. The Transfer Agent also reserves the right to refuse to transfer or redeem Shares until it is satisfied that the requested transfer or redemption is legally authorized, and it shall incur no liability for the refusal, in good faith, to make transfers or redemptions which the Transfer Agent, in its good judgment, deems improper or unauthorized, or until it is reasonably satisfied that there is no basis to any claims adverse to such transfer or redemption. The Transfer Agent may, in effecting transactions, rely upon the provisions of the Uniform Act for the Simplification of Fiduciary Security Transfers or the provisions of Article 8 of the Uniform Commercial Code, as the same may be amended from time to time in the State of North Dakota, which in the opinion of legal counsel for the Fund or of its own legal counsel protect it in not requiring certain documents in connection with the transfer or redemption of Shares. The Fund may authorize the Transfer Agent to waive the signature guarantee in certain cases by Written Instructions. For the purpose of the redemption of Shares which have been purchased within 15 days of a redemption request, the Transfer Agent may refuse to redeem such Shares until the Transfer Agent has received fed funds for the purchase of such Shares.

Requirements for Transfer or Redemption of Shares. The Transfer Agent shall process all requests from Shareholders shareholders to transfer or redeem Shares in accordance with the procedures set forth in the Prospectus Fund's Prospectus, including, but not limited to, all requests from shareholders to redeem Shares of each Portfolio, and all determinations of the number of Shares required to be redeemed to fund fund-designated monthly payments, automatic payments, or any other such distribution or withdrawal plan. The Transfer Agent will transfer or redeem Shares upon receipt of Written Instructions and Share certificates, if any, properly endorsed for transfer or redemption, accompanied by such documents as the Transfer Agent reasonably may deem necessary to evidence the authority of the person making such transfer or redemption, and bearing satisfactory evidence of the payment of stock transfer taxes, if any. Except to the extent inconsistent with the procedures set forth in the Prospectus, the The Transfer Agent reserves the right to refuse to transfer or redeem Shares until it is satisfied that the endorsement on the instructions instrutions is valid and genuine, and for that purpose it will require a guarantee of signature by a member firm of a national securities exchange, by any national bank or trust company, company or by any member bank of the Federal Reserve system. The Transfer Agent also reserves the right to refuse to transfer or redeem Shares until it is satisfied that the requested transfer or redemption is legally authorized, and it shall incur no liability for the refusal, in good faith, to make transfers or redemptions which the Transfer Agent, in its good judgmentjudgement, deems improper or unauthorized, or until it is reasonably satisfied that there is no basis to any claims adverse to such transfer or redemption. The Transfer Agent may, in effecting transactions, rely upon the provisions of the Uniform Act for the Simplification of Fiduciary Security Transfers or the provisions of Article 8 of the Uniform Commercial Code, as the same may be amended from time to time in the State Commonwealth of North DakotaMassachusetts, which which, in the opinion of legal counsel counsel, for the Fund or of its own legal counsel protect it in not requiring certain documents in connection with the transfer or redemption of Shares. The Fund may authorize the Transfer Agent to waive the signature guarantee in certain cases by Written Instructions. For the purpose purposes of the redemption of Shares of each Portfolio which have been purchased within 15 days of a redemption request, the Transfer Agent may refuse to redeem such Shares until Fund shall provide the Transfer Agent has received fed funds for with Written Instructions (see Exhibit 2 hereto) concerning the purchase of time within which such Sharesrequests may be honored.

Requirements for Transfer or Redemption of Shares. (i) The Transfer Agent shall process all requests from Shareholders to transfer or redeem Shares in accordance with the procedures set forth described in the Prospectus and all determinations of the number of Shares required to be redeemed to fund designated monthly payments, automatic payments, or any other such distribution or withdrawal plan. Trust's prospectus. (ii) The Transfer Agent will transfer or redeem Shares upon receipt of Written Instructions and Share certificates, if any, properly endorsed for transfer or redemption, accompanied by such documents as the Transfer Agent reasonably may deem necessary to evidence the authority of the person making requesting such transfer or redemption, redemption and bearing satisfactory evidence of the payment of stock transfer taxes, if any. Except to the extent inconsistent with the procedures set forth in the Prospectus, the . (iii) The Transfer Agent reserves the right to refuse to transfer or redeem Shares until it is satisfied that the endorsement on the instructions is valid and genuine, and for that purpose it will require a guarantee of signature by a member firm of a national securities exchange, by any national bank or trust company, company or by any member bank of the Federal Reserve system. The Trust may authorize the Transfer Agent to waive the signature guarantee in certain cases by Written Instructions. The Transfer Agent also reserves the right to refuse to transfer or redeem Shares until it is satisfied that the requested transfer or redemption is legally authorized, and it shall incur no liability for the refusal, in good faith, to make transfers or redemptions which that the Transfer Agent, in its good judgment, Agent deems improper or unauthorized, or until it is reasonably satisfied that there is no basis to any claims adverse to such transfer or redemption. The Transfer Agent may, in effecting transactions, rely upon . (iv) In the provisions case of the Uniform Act for the Simplification of Fiduciary Security Transfers or the provisions of Article 8 of the Uniform Commercial Code, as the same may be amended from time to time in the State of North Dakota, which in the opinion of legal counsel for the Fund or of its own legal counsel protect it in not requiring certain documents in connection with the transfer or redemption of Shares. The Fund may authorize the Transfer Agent to waive the signature guarantee in certain cases by Written Instructions. For the purpose of the redemption of Shares which have been purchased within 15 days of a redemption request, the Transfer Agent may refuse to redeem such Shares until Trust shall provide the Transfer Agent has received fed funds for with instructions concerning the purchase of time within which such Sharesrequests may be honored.

Requirements for Transfer or Redemption of Shares. The Transfer Agent shall process all requests from Shareholders to transfer or redeem Shares in accordance with the procedures set forth in the Prospectus and all determinations determina- tions of the number of Shares required to be redeemed to fund designated monthly payments, automatic payments, or any other such distribution or withdrawal plan. The Transfer Agent will transfer or redeem Shares upon receipt of Written Instructions and Share certificates, if any, properly endorsed for transfer or redemption, accompanied by such documents as the Transfer Agent reasonably may deem necessary to evidence the authority of the person making such transfer or redemption, and bearing satisfactory evidence of the payment of stock transfer taxes, if any. Except to the extent inconsistent with the procedures set forth in the Prospectus, the Transfer Agent reserves the right to refuse to transfer or redeem Shares until it is satisfied that the endorsement on the instructions is valid and genuine, and for that purpose it will require a guarantee of signature by a member firm of a national securities exchange, by any national bank or trust company, or by any member bank of the Federal Reserve system. The Transfer Agent also reserves the right to refuse to transfer or redeem Shares until it is satisfied that the requested transfer or redemption is legally authorized, and it shall incur no liability for the refusal, in good faith, to make transfers or redemptions which the Transfer Agent, in its good judgment, deems improper or unauthorized, or until it is reasonably satisfied that there is no basis to any claims adverse to such transfer or redemption. The Transfer Agent may, in effecting transactions, rely upon the provisions of the Uniform Act for the Simplification of Fiduciary Security Transfers or the provisions of Article 8 of the Uniform Commercial Code, as the same may be amended from time to time in the State of North Dakota, which in the opinion of legal counsel for the Fund or of its own legal counsel protect it in not requiring certain documents in connection with the transfer or redemption of Shares. The Fund may authorize the Transfer Agent to waive the signature guarantee in certain cases by Written Instructions. For the purpose of the redemption of Shares which have been purchased within 15 30 days of a redemption request, the Transfer Agent may refuse to redeem such Shares until the Transfer Agent has received fed funds for the purchase of such Shares.

Requirements for Transfer or Redemption of Shares. The Transfer Agent shall process all requests from Shareholders to transfer or redeem Shares in accordance with the procedures set forth in the Prospectus and Trust's Prospectus, or as authorized by the Trust pursuant to Written Instructions, including, but not limited to, all requests from Shareholders to redeem Shares of each Portfolio, all determinations of the number of Shares required to be redeemed to fund designated monthly payments, payments and automatic payments, payments or any other such distribution or withdrawal plan. The Transfer Agent will transfer or redeem Shares upon receipt of Written Instructions and Share certificates, if any, properly endorsed for transfer or redemption, accompanied by such documents as the Transfer Agent reasonably may deem necessary to evidence the authority of the person making such transfer or redemption, and bearing satisfactory evidence of the payment of stock transfer taxes, if any. Except to the extent inconsistent with the procedures set forth in the Prospectus, the Transfer Agent reserves the right to refuse to transfer or redeem Shares until it is satisfied that the endorsement on the instructions is to do so are valid and genuine, and for that purpose it will require a guarantee of signature by a member firm of a national securities exchange, by any national bank or trust company, or by any member bank of in accordance with procedures set forth in the Federal Reserve systemTrust's Prospectus. The Transfer Agent also reserves the right to refuse to transfer or redeem Shares until it is satisfied that the requested transfer or redemption is legally authorized, and it shall incur no liability for the refusal, in good faith, to make transfers transfer or redemptions which the Transfer Agent, in its good judgment, judgment deems improper or unauthorizedunauthorized based upon such procedures, or until it is reasonably satisfied that there is no basis to for any claims claim adverse to such transfer or redemption. The Transfer Agent may, may in effecting transactions, rely upon the provisions of the Uniform Act for the Simplification of Fiduciary Security Transfers or the provisions of Article 8 of the Uniform Commercial Code, as the same may be amended from time to time in the State Commonwealth of North DakotaMassachusetts, which in the opinion of legal counsel for the Fund Trust or of its own legal counsel protect it in not requiring certain documents in connection with the transfer or redemption of Shares. The Fund Trust may authorize the Transfer Agent to waive the signature guarantee in certain cases by Written Instructions. For the purpose of the redemption of Shares of each Portfolio which have been purchased within 15 days of a redemption request, the Transfer Agent may refuse to redeem such Shares until Trust shall provide the Transfer Agent has received fed funds for with written Instructions (see Exhibit 2 hereto) concerning the purchase of time within which such Sharesrequests may be honored.

Requirements for Transfer or Redemption of Shares. The Transfer Agent shall process all requests from Shareholders to transfer or redeem Shares in accordance with the procedures set forth in the Prospectus and all determinations of the number of Shares required to be redeemed to fund designated monthly payments, automatic payments, or any other such distribution or withdrawal plan. The Transfer Agent will transfer or redeem Shares upon receipt of Written Instructions and Share certificates, if any, properly endorsed for transfer or redemption, accompanied by such documents as the Transfer Agent reasonably may deem necessary to evidence the authority of the person making such transfer or redemption, and bearing satisfactory evidence of the payment of stock transfer taxes, if any. Except to the extent inconsistent with the procedures set forth in the Prospectus, the Transfer Agent reserves the right to refuse to transfer or redeem Shares until it is satisfied that the endorsement on the instructions is valid and genuine, and for that purpose it will require a guarantee of signature by a member firm of a national securities exchange, by any national bank or trust company, or by any member bank of the Federal Reserve system. The Transfer Agent also reserves the right to refuse to transfer or redeem Shares until it is satisfied that the requested transfer or redemption is legally authorized, and it shall incur no liability for the refusal, in good faith, to make transfers or redemptions which the Transfer Agent, in its good judgment, deems improper or unauthorized, or until it is reasonably satisfied that there is no basis to any claims adverse to such transfer or redemption. The Transfer Agent may, in effecting transactions, rely upon the provisions of the Uniform Act for the Simplification of Fiduciary Security Transfers or the provisions of Article 8 of the Uniform Commercial Code, as the same may be amended from time to time in the State of North Dakota, which in the opinion of legal counsel for the Fund or of its own legal counsel protect it in not requiring certain documents in connection with the transfer or redemption of Shares. The Fund may authorize the Transfer Agent to waive the signature guarantee in certain cases by Written Instructions. For the purpose of the redemption of Shares which have been purchased within 15 30 days of a redemption request, the Transfer Agent may refuse to redeem such Shares until the Transfer Agent has received fed funds for the purchase of such Shares.

Requirements for Transfer or Redemption of Shares. The -------------------------------------------------- Transfer Agent shall process all requests from Shareholders shareholders to transfer or redeem Shares in accordance with the procedures set forth in the Trust's Prospectus or as authorized by the Trust pursuant to Written Instructions, including, but not limited to, all requests from shareholders to redeem Shares of each portfolio and all determinations of the number of Shares required to be redeemed to fund designated monthly payments, automatic payments, payments or any other such distribution or withdrawal plan. The Transfer Agent will transfer or redeem Shares upon receipt of Written Instructions and Share certificates, if any, properly endorsed for transfer or redemption, accompanied by such documents as the Transfer Agent reasonably may deem necessary to evidence the authority of the person making such transfer or redemption, and bearing satisfactory evidence of the payment of stock transfer taxes, if any. Except to the extent inconsistent with the procedures set forth in the Prospectus, the The Transfer Agent reserves the right to refuse to transfer or redeem Shares until it is satisfied that the endorsement on the instructions is valid and genuine, and for that purpose it will require a guarantee of signature by a member firm of a national securities exchange, by any national bank or trust company, company or by any member bank of the Federal Reserve system. The Transfer Agent also reserves the right to refuse to transfer or redeem Shares until it is satisfied that the requested transfer or redemption is legally authorized, and it shall incur no liability for the refusal, in good faith, to make transfers or redemptions which the Transfer Agent, in its good judgmentjudgement, deems improper or unauthorized, or until it is reasonably satisfied that there is no basis to any claims adverse to such transfer or redemption. The Transfer Agent may, in effecting transactions, rely upon the provisions of the Uniform Act for the Simplification of Fiduciary Security Transfers or the provisions of Article 8 of the Uniform Commercial Code, as the same may be amended from time to time in the State Commonwealth of North DakotaMassachusetts, which in the opinion of legal counsel for the Fund Trust or of its own legal counsel protect it in not requiring certain documents in connection with the transfer or redemption of Shares. The Fund Trust may authorize the Transfer Agent to waive the signature guarantee in certain cases by Written Instructions. For the purpose of the redemption of Shares of each Portfolio which have been purchased within 15 days of a redemption request, the Transfer Agent may refuse to redeem such Shares until Trust shall provide the Transfer Agent has received fed funds for with Written Instructions (see- Exhibit 2 hereto) concerning the purchase of time within which such Sharesrequests may be honored.