Common use of Right of Accumulation Clause in Contracts

Right of Accumulation. Quantity discounts also apply to subsequent purchases which would bring the total to an applicable breakpoint or more as described in the Funds’ current prospectus. We must be notified at the time an order is placed that it would qualify for a quantity discount under the Right of Accumulation. The calculation of the net asset value of each Fund will become immediately effective upon its determination. Orders to purchase shares of the Funds received by dealers prior to 4:00 p.m., Eastern Time, will be confirmed, subject to our acceptance, on the basis of the net asset value determined on that day provided they are received by us prior to the close of our business day. Orders received by dealers after 4:00 p.m. (EST) will be confirmed, subject to our acceptance, on the same basis as previously stated with respect to the next day on which the net asset value of the Fund is determined. All sales must be made subject to our acceptance and confirmation. We reserve the right to reject any order for any reason. See the prospectus for the minimum dollar amounts for which orders will be accepted.

Right of Accumulation. Quantity discounts also apply to subsequent purchases which would bring the total to an applicable breakpoint or more as described in the Funds’ ' current prospectus. We must be notified at the time an order is placed that it would qualify for a quantity discount under the Right of Accumulation. The calculation of the net asset value of each Fund will become immediately effective upon its determination. Orders to purchase shares of the Funds received by dealers prior to 4:00 p.m., Eastern Time, will be confirmed, subject to our acceptance, on the basis of the net asset value determined on that day provided they are received by us prior to the close of our business day. Orders received by dealers after 4:00 p.m. (EST) will be confirmed, subject to our acceptance, on the same basis as previously stated with respect to the next day on which the net asset value of the Fund is determined. All sales must be made subject to our acceptance and confirmation. We reserve the right to reject any order for any reason. See the prospectus for the minimum dollar amounts for which orders will be accepted.