Common use of Sale and Purchase; Compensation Clause in Contracts

Sale and Purchase; Compensation. (a) The Trust will issue and sell to each Underwriter, and each Underwriter will purchase from the Trust, the number of Firm Shares set forth opposite such Underwriter's name in Schedule 1 hereto, at the purchase price of $15.00 per Firm Share. (b) The Trust grants to the Underwriters the Option to purchase all or any part of the Option Shares for the same consideration per share as for the Firm Shares. The Option may be exercised only to cover over-allotments in the sales of the Firm Shares by the Underwriters. The number of Option Shares (adjusted by the Representatives to eliminate fractions) to be purchased by each Underwriter will be the same percentage of the aggregate number of Option Shares being sold as such Underwriter is obligated to purchase of the Firm Shares. Such Option may be exercised in whole or in part, only to cover over-allotments, at any time or from time to time on or before the 45th day after the date of this Underwriting Agreement, upon written or telefacsimile notice (the "Option Shares Notice") from the Representatives to the Trust no later than 12:00 noon, New York City time, at least two and not more than five business days before the date specified for closing in the Option Shares Notice (the "Option Shares Closing Date"), setting forth the number of Option Shares to be purchased and the time and date of such purchase. Upon delivery and receipt of the Option Shares Notice, the Trust will issue and sell to each Underwriter, and each 3 Underwriter will purchase from the Trust, on the Option Shares Closing Date, its portion of the number of Option Shares set forth in the Option Shares Notice. (c) The obligations of the Underwriters under this Underwriting Agreement are several and not joint and are undertaken on the basis of the representations and are subject to the conditions set forth in this Underwriting Agreement. (d) The Investment Adviser agrees to make the payments to the Underwriters when and as required by Section 2 hereof.

Sale and Purchase; Compensation. (a) The Trust will issue and sell to each Underwriter, and each Underwriter will purchase from the Trust, the number of Firm Shares set forth opposite such Underwriter's name in Schedule 1 hereto, at the purchase price of $15.00 per Firm Share. (b) The Trust grants to the Underwriters the Option to purchase all or any part of the Option Shares for the same consideration per share as for the Firm Shares. The Option may be exercised only to cover over-allotments in the sales of the Firm Shares by the Underwriters. The number of Option Shares (adjusted by the Representatives to eliminate fractions) to be purchased by each Underwriter will be the same percentage of the aggregate number of Option Shares being sold as such Underwriter is obligated to purchase of the Firm Shares. Such Option may be exercised in whole or in part, only to cover over-allotments, at any time or from time to time on or before the 45th day after the date of this Underwriting Agreement, upon written or telefacsimile notice (the "Option Shares Notice") from the Representatives to the Trust no later than 12:00 noon, New York City time, at least two and not more than five business days before the date specified for closing in the Option Shares Notice (the "Option Shares Closing Date"), setting forth the number of Option Shares to be purchased and the time and date of such purchase. Upon delivery and receipt of the Option Shares Notice, the Trust will issue and sell to each Underwriter, and each 3 Underwriter will purchase from the Trust, on the Option Shares Closing Date, its portion of the number of Option Shares set forth in the Option Shares Notice.. 3 (c) The obligations of the Underwriters under this Underwriting Agreement are several and not joint and are undertaken on the basis of the representations and are subject to the conditions set forth in this Underwriting Agreement. (d) The Investment Adviser agrees to make the payments to the Underwriters when and as required by Section 2 hereof.

Sale and Purchase; Compensation. (a) The Trust will issue and sell to each Underwriter, and each Underwriter will purchase from the Trust, the number of Firm Shares set forth opposite such Underwriter's name in Schedule 1 hereto, at the purchase price of $15.00 10.00 per Firm Share. (b) The Trust grants to the Underwriters the Option to purchase all or any part of the Option Shares for the same consideration per share as for the Firm Shares. The Option may be exercised only to cover over-allotments in the sales of the Firm Shares by the Underwriters. The number of Option Shares (adjusted by the Representatives to eliminate fractions) to be purchased by each Underwriter will be the same percentage of the aggregate number of Option Shares being sold as such Underwriter is obligated to purchase of the Firm Shares. Such Option may be exercised in whole or in part, only to cover over-allotments, at any time or from time to time on or before the 45th day after the date of this Underwriting Agreement, upon written or telefacsimile notice (the "Option Shares Notice") from the Representatives to the Trust no later than 12:00 noon, New York City time, at least two and not more than five business days before the date specified for closing in the Option Shares Notice (the "Option Shares Closing Date"), setting forth the number of Option Shares to be purchased and the time and date of such purchase. Upon delivery and receipt of the Option Shares Notice, the Trust will issue and sell to each Underwriter, and each 3 Underwriter will purchase from the Trust, on the Option Shares Closing Date, its portion of the number of Option Shares set forth in the Option Shares Notice. (c) The obligations of the Underwriters under this Underwriting Agreement are several and not joint and are undertaken on the basis of the representations and are subject to the conditions set forth in this Underwriting Agreement. (d) The Investment Adviser agrees to make the payments to the Underwriters when and as required by Section 2 hereof.

Sale and Purchase; Compensation. (a) The Trust Fund will issue and sell to each Underwriter, and each Underwriter will purchase from the TrustFund, the number of Firm Shares set forth opposite such Underwriter's name in Schedule 1 hereto, at the purchase price of $15.00 per Firm Shareshare of Common Shares. (b) The Trust Fund grants to the Underwriters the Option to purchase all or any part of the Option Shares for the same consideration per share as for the Firm Shares. The Option may be exercised only to cover over-over- allotments in the sales of the Firm Shares by the Underwriters. The number of Option Shares (adjusted by the Representatives Representative to eliminate fractions) to be purchased by each Underwriter will be the same percentage of the aggregate number of Option Shares being sold as such Underwriter is obligated to purchase of the Firm Shares. Such Option may be exercised in whole or in part, only to cover over-allotments, at any time or from time to time on or before the 45th day after the date of this Underwriting Agreement, upon written or telefacsimile notice (the "Option Shares Notice") from the Representatives Representative to the Trust Fund no later than 12:00 noon, New York City time, at least two and not more than five business days before the date specified for closing in the Option Shares Notice (the "Option Shares Closing Date"), setting forth the number of Option Shares to be purchased and the time and date of such purchase. Upon delivery and receipt of the Option Shares Notice, the Trust Fund will issue and sell to each Underwriter, and each 3 Underwriter will purchase from the TrustFund, on the Option Shares Closing Date, its portion of the number of Option Shares set forth in the Option Shares Notice. (c) The obligations of the Underwriters under this Underwriting Agreement are several and not joint and are undertaken on the basis of the representations and are subject to the conditions set forth in this Underwriting Agreement. (d) The Investment Adviser agrees to make the payments to the Underwriters when and as required by Section 2 hereof.

Sale and Purchase; Compensation. (a) The Trust Fund will issue and sell to each Underwriter, and each Underwriter will purchase from the TrustFund, the number of Firm Shares set forth opposite such Underwriter's name in Schedule 1 hereto, at the purchase price of $15.00 per Firm Shareshare of Common Shares. (b) The Trust Fund grants to the Underwriters the Option to purchase all or any part of the Option Shares for the same consideration per share as for the Firm Shares. The Option may be exercised only to cover over-allotments in the sales of the Firm Shares by the Underwriters. The number of Option Shares (adjusted by the Representatives Representative to eliminate fractions) to be purchased by each Underwriter will be the same percentage of the aggregate number of Option Shares being sold as such Underwriter is obligated to purchase of the Firm Shares. Such Option may be exercised in whole or in part, only to cover over-allotments, at any time or from time to time on or before the 45th day after the date of this Underwriting Agreement, upon written or telefacsimile notice (the "Option Shares Notice") from the Representatives Representative to the Trust Fund no later than 12:00 noon, New York City time, at least two and not more than five business days before the date specified for closing in the Option Shares Notice (the "Option Shares Closing Date"), setting forth the number of Option Shares to be purchased and the time and date of such purchase. Upon delivery and receipt of the Option Shares Notice, the Trust Fund will issue and sell to each Underwriter, and each 3 Underwriter will purchase from the TrustFund, on the Option Shares Closing Date, its portion of the number of Option Shares set forth in the Option Shares Notice. (c) The obligations of the Underwriters under this Underwriting Agreement are several and not joint and are undertaken on the basis of the representations and are subject to the conditions set forth in this Underwriting Agreement. (d) The Investment Adviser agrees to make the payments to the Underwriters when and as required by Section 2 hereof.

Sale and Purchase; Compensation. (a) The Trust Fund will issue and sell to each Underwriter, and each Underwriter will purchase from the TrustFund, the number of Firm Shares set forth opposite such Underwriter's name in Schedule 1 hereto, at the purchase price of $15.00 __________ per Firm Share. (b) The Trust Fund grants to the Underwriters the Option to purchase all or any part of the Option Shares for the same consideration per share as for the Firm Shares. The Option may be exercised only to cover over-allotments in the sales of the Firm Shares by the Underwriters. The number of Option Shares (adjusted by the Representatives to eliminate fractions) to be purchased by each Underwriter will be the same percentage of the aggregate number of Option Shares being sold as such Underwriter is obligated to purchase of the Firm Shares. Such Option may be exercised in whole or in part, only to cover over-allotments, at any time or from time to time on or before the 45th day after the date of this Underwriting Agreement, upon written or telefacsimile notice (the "Option Shares Notice") from the Representatives to the Trust Fund no later than 12:00 noon, New York City time, at least two and not more than five business days before the date specified for closing in the Option Shares Notice (the "Option Shares Closing Date"), setting forth the number of Option Shares to be purchased and the time and date of such purchase. Upon delivery and receipt of the Option Shares Notice, the Trust Fund will issue and sell to each Underwriter, and each 3 Underwriter will purchase from the TrustFund, on the Option Shares Closing Date, its portion of the number of Option Shares set forth in the Option Shares Notice. (c) The obligations of the Underwriters under this Underwriting Agreement are several and not joint and are undertaken on the basis of the representations and are subject to the conditions set forth in this Underwriting Agreement. (d) The Investment Adviser agrees to make the payments to the Underwriters when and as required by Section 2 hereof.

Sale and Purchase; Compensation. (a) The Trust Fund will issue and sell to each Underwriter, and each Underwriter will purchase from the TrustFund, the number of Firm Shares set forth opposite such Underwriter's name in Schedule 1 hereto, at the purchase price of $15.00 9.55 per Firm Share. (b) The Trust Fund grants to the Underwriters the Option to purchase all or any part of the Option Shares for the same consideration purchase price per share as for the Firm Shares. The Option may be exercised only to cover over-allotments in the sales of the Firm Shares by the Underwriters. The number of Option Shares (adjusted by the Representatives to eliminate fractions) to be purchased by each Underwriter will be the same percentage of the aggregate number of Option Shares being sold as such Underwriter is obligated to purchase of the Firm Shares. Such Option may be exercised in whole or in part, only to cover over-allotments, at any time or from time to time on or before the 45th day after the date of this Underwriting Agreement, upon written or telefacsimile notice (the "Option Shares Notice") from the Representatives to the Trust Fund no later than 12:00 noon, New York City time, at least two three and not more than five business days before the date specified for closing in the Option Shares Notice (the "Option Shares Closing Date"), setting forth the number of Option Shares to be purchased and the time and date of such purchase. Upon delivery and receipt of the Option Shares Notice, the Trust Fund will issue and sell to each Underwriter, and each 3 Underwriter will purchase from the TrustFund, on the Option Shares Closing Date, its portion of the number of Option Shares set forth in the Option Shares Notice. (c) The obligations of the Underwriters under this Underwriting Agreement are several and not joint and are undertaken on the basis of the representations and are subject to the conditions set forth in this Underwriting Agreement. (d) The Investment Adviser agrees to make the payments to the Underwriters when and as required by Section 2 hereof.

Sale and Purchase; Compensation. (a) The Trust Fund will issue and sell to each Underwriter, and each Underwriter will purchase from the TrustFund, the number of Firm Shares set forth opposite such Underwriter's name in Schedule 1 hereto, at the purchase price of $15.00 per Firm Shareshare of Common Shares. (b) The Trust Fund grants to the Underwriters the Option to purchase all or any part of the Option Shares for the same consideration per share as for the Firm Shares. The Option may be exercised only to cover over-allotments in the sales of the Firm Shares by the Underwriters. The number of Option Shares (adjusted by the Representatives to eliminate fractions) to be purchased by each Underwriter will be the same percentage of the aggregate number of Option Shares being sold as such Underwriter is obligated to purchase of the Firm Shares. Such Option may be exercised in whole or in part, only to cover over-allotments, at any time or from time to time on or before the 45th 60th day after the date of this Underwriting Agreement, upon written or telefacsimile notice (the "Option Shares Notice") from the Representatives to the Trust Fund no later than 12:00 noon, New York City time, at least two and not more than five business days before the date specified for closing in the Option Shares Notice (the "Option Shares Closing Date"), setting forth the number of Option Shares to be purchased and the time and date of such purchase. Upon delivery and receipt of the Option Shares Notice, the Trust Fund will issue and sell to each Underwriter, and each 3 Underwriter will purchase from the TrustFund, on the Option Shares Closing Date, its portion of the number of Option Shares set forth in the Option Shares Notice. (c) The obligations of the Underwriters under this Underwriting Agreement are several and not joint and are undertaken on the basis of the representations and are subject to the conditions set forth in this Underwriting Agreement. (d) The Investment Adviser Dreyfus agrees to make the payments to the Underwriters when and as required by Section 2 hereof.