Common use of Sale and Payment Clause in Contracts

Sale and Payment. Under this Agreement, the following provisions shall apply with respect to the sale of and payment of Shares of a Fund sold at an offering price which includes a sales load (collectively, the "Load Shares;" individually, a "Load Share") as described in the prospectuses of any Funds identified on Schedule B hereto (collectively, the "Load Funds"; individually, a "Load Fund"): (a) Distributor shall have the right, as principal, to purchase Load Shares at their net asset value and to sell such Load Shares to the public against orders therefor at the applicable public offering price, as defined in Section 4 hereof. Distributor shall also have the right, as principal, to sell Load Shares to dealers against orders therefor at the public offering price less a concession determined by Distributor, which concession shall not exceed the amount of the sales charge or underwriting discount, if any, referred to in Section 3 below. (b) Prior to the time of delivery of any Load Shares by a Load Fund to, or on the order of, Distributor, Distributor shall pay or cause to be paid to the Load Fund or to its order an amount in Boston or New York clearing house funds equal to the applicable net asset value of such Shares. Distributor may retain so much of any sales charge or underwriting discount as is not allowed by Distributor as a concession to dealers.

Sale and Payment. Under this Agreement, the following provisions shall apply with respect to the sale of and payment of Shares of a Fund sold at an offering price which includes a sales load (collectively, the "Load Shares;" individually, a "Load Share") as described in the prospectuses of any Funds identified on Schedule B D hereto (collectively, the "Load Funds"; individually, a "Load Fund"): (a) Distributor shall have the right, as principal, to purchase Load Shares at their net asset value and to sell such Load Shares to the public against orders therefor at the applicable public offering price, as defined in Section 4 hereof. Distributor shall also have the right, as principal, to sell Load Shares to dealers against orders therefor at the public offering price less a concession determined by Distributor, which concession shall not exceed the amount of the sales charge or underwriting discount, if any, referred to in Section 3 4 below. (b) Prior to the time of delivery of any Load Shares by a Load Fund to, or on the order of, Distributor, Distributor shall pay or cause to be paid to the Load Fund or to its order an amount in Boston or New York clearing house funds equal to the applicable net asset value of such Shares. Distributor may retain so much of any sales charge or underwriting discount as is not allowed by Distributor as a concession to dealers.

Sale and Payment. Under this Agreement, the following provisions shall apply with respect to the sale of and payment of Shares of a Fund sold at an offering price which includes a sales load (collectively, the "Load Shares;" individually, a "Load Share") as described in the prospectuses of any Funds identified on Schedule B hereto (collectively, the "Load Funds"; individually, a "Load Fund"): (a) Distributor shall have the right, as principal, to purchase Load Shares at their net asset value and to sell such Load Shares to the public against orders therefor at the applicable public offering price, as defined in Section 4 3 hereof. Distributor shall also have the right, as principal, to sell Load Shares to dealers against orders therefor at the public offering price less a concession determined by Distributor, which concession shall not exceed the amount of the sales charge or underwriting discount, if any, referred to in Section 3 below. (b) Prior to the time of delivery of any Load Shares by a Load Fund to, or on the order of, Distributor, Distributor shall pay or cause to be paid to the Load Fund or to its order an amount in Boston or New York clearing house funds equal to the applicable net asset value of such Shares. Distributor may retain so much of any sales charge or underwriting discount as is not allowed by Distributor as a concession to dealers.