Common use of Sale and Redemption of Shares of the Portfolios Clause in Contracts

Sale and Redemption of Shares of the Portfolios. (a) Whenever the Trust shall sell any Shares of a Portfolio, the Trust shall deliver or cause to be delivered to the Custodian Written Instruction duly specifying: 1. The name of the Portfolio whose Shares were sold; 2. The number of Shares sold, trade date, and price; and 3. The amount of money to be received by the Custodian for the sale of such Shares and specifically allocated to such Portfolio. (b) Upon receipt of such money from the Transfer Agent, the Custodian shall credit such money to the separate account of the Portfolio specified in subparagraph (1) of paragraph (a) of this Section 8. (c) Upon issuance of any Shares of a Portfolio in accordance with the foregoing provisions of this Section 8, the Custodian shall pay, out of the moneys specifically allocated and held for the account of such Portfolio, all original issue or other taxes required to be paid in connection with such issuance upon the receipt of a Certificate specifying the amount to be paid. (d) Except as provided hereafter, whenever any Shares of a Portfolio are redeemed, the Trust shall cause the Transfer Agent to promptly furnish to the Custodian Written Instruction, specifying: 1. The name of the Portfolio whose Shares were redeemed; 2. The number of Shares redeemed; and 3. The amount to be paid for the Shares redeemed. (e) Upon receipt from the Transfer Agent of advice setting forth the number of Shares of a Portfolio received by the Transfer Agent for redemption and that such Shares are valid and in good form for redemption, the Custodian shall make payment to the Transfer Agent out of the moneys specifically allocated to and held for the account of the Portfolio specified in subparagraph (1) of paragraph (d) of this Section 8 of the total amount specified in the Written Instruction issued pursuant to paragraph (d) of this Section 8. (f) Notwithstanding the above provisions regarding the redemption of Shares, whenever such Shares are redeemed pursuant to any check redemption privilege which may from time to time be offered by the Trust, the Custodian, unless otherwise instructed by a Written Instruction shall, upon receipt of advice from the Trust or its agent stating that the redemption is in good form for redemption in accordance with the check redemption procedure, honor the check presented as part of such check redemption privilege out of the moneys specifically allocated to the Trust in such advice for such purpose.

Sale and Redemption of Shares of the Portfolios. (a) Whenever the Trust Fund shall sell any Shares of a Portfolio, the Trust Fund shall deliver or cause to be delivered to the Custodian Written Instruction a Certificate duly specifying: 1. The name of the Portfolio whose Shares were sold; 2. The number of Shares sold, trade date, and price; and 3. The amount of money to be received by the Custodian for the sale of such Shares and specifically allocated to such Portfolio. The Custodian understands and agrees that the Certificate may be furnished subsequent to the purchase of Shares of a Portfolio and that the information contained therein will be derived from the sales of Shares of such Portfolio as reported to the Fund by the Transfer Agent. (b) Upon receipt of such money from the Transfer Agent, the Custodian shall credit such money to the separate account of the Portfolio specified in subparagraph (1) of paragraph (a) of this Section 8. (c) Upon issuance of any Shares of a Portfolio in accordance with the foregoing provisions of this Section 8, the Custodian shall pay, out of the moneys specifically allocated and held for the account of such Portfolio, all original issue or other taxes required to be paid in connection with such issuance upon the receipt of a Certificate specifying the amount to be paid. (d) Except as provided hereafter, whenever any Shares of a Portfolio are redeemed, the Trust Fund shall cause the Transfer Agent to promptly furnish to the Custodian Written InstructionInstructions, specifying: 1. The name of the Portfolio whose Shares were redeemed; 2. The number of Shares redeemed; and 3. The amount to be paid for the Shares redeemed. Any such Written Instructions shall be confirmed by a Certificate which the Custodian understands and agrees may be furnished subsequent to the redemption of Shares of a Portfolio. The Custodian further understands that the information contained in such Certificate will be derived from the redemption of Shares as reported to the Fund by the Transfer Agent. (e) Upon receipt from the Transfer Agent of advice setting forth the number of Shares of a Portfolio received by the Transfer Agent for redemption and that such Shares are valid and in good form for redemption, the Custodian shall make payment to the Transfer Agent out of the moneys specifically allocated to and held for the account of the Portfolio specified in subparagraph (1) of paragraph (d) of this Section 8 of the total amount specified in the Written Instruction Certificate issued pursuant to paragraph (d) of this Section 8. (f) Notwithstanding the above provisions regarding the redemption of Shares, whenever such Shares are redeemed pursuant to any check redemption privilege which may from time to time be offered by the TrustFund, the Custodian, unless otherwise instructed by a Written Instruction Certificate shall, upon receipt of advice from the Trust Fund or its agent stating that the redemption is in good form for redemption in accordance with the check redemption procedure, honor the check presented as part of such check redemption privilege out of the moneys specifically allocated to the Trust Fund in such advice for such purpose.

Sale and Redemption of Shares of the Portfolios. (a) Whenever the Trust shall sell any Shares of a Portfolio, the Trust shall deliver or cause to be delivered to the Custodian a Written Instruction duly specifying: 1. The name of the Portfolio whose Shares were sold; 2. The name and number of Shares sold, trade date, and price; and 3. The amount of money monies to be received by the Custodian for the sale of such Shares and specifically allocated to such Portfolio. The Custodian understands and agrees that a Written Instruction may be furnished subsequent to the purchase of Shares of a Portfolio and that the information contained therein will be derived from the sales of Shares specifically allocated to that Portfolio as reported to the Trust by the Transfer Agent. (b) Upon receipt of such money monies from the Transfer Agent, the Custodian shall credit such money monies to the separate account of the Portfolio specified in subparagraph (1) of paragraph (a) of this Section 8. (c) Upon issuance of any Shares of a Portfolio in accordance with the foregoing provisions of this Section 8, the Custodian shall pay, out of all the moneys monies specifically allocated and held for the account of such Portfolio, all original issue or other taxes required to be paid in connection with such issuance upon the receipt of a Certificate Written Instruction specifying the amount to be paid. (d) Except as provided hereafter, whenever any Shares of a Portfolio are redeemed, the Trust shall cause the Transfer Agent to promptly furnish to the Custodian a Written Instruction, specifying: 1. The name of the Portfolio whose Shares were redeemed; 2. The number of Shares redeemed; and 3. The amount to be paid for the Shares redeemed. The Custodian further understands that the information contained in any such Written Instruction will be derived from the redemption of Shares specifically allocated to that Portfolio as reported to the Trust by the Transfer Agent. (e) Upon receipt from the Transfer Agent of advice setting forth the number of Shares of a Portfolio received by the Transfer Agent for redemption and that such Shares are valid and in good form for redemption, the Custodian shall make payment to the Transfer Agent out of the moneys monies specifically allocated to and held for the account of the Portfolio specified as provided in subparagraph (1) of paragraph (d) of this Section 8 of the total amount specified in the Written Instruction issued pursuant to paragraph (d) of this Section 8. (f) Notwithstanding the above provisions regarding the redemption of SharesShares of a Portfolio, whenever such Shares are redeemed pursuant to any check redemption privilege which may from time to time be offered by the TrustPortfolio, the Custodian, unless otherwise instructed by a Written Instruction shall, upon receipt of advice from the Trust Portfolio or its agent stating that the redemption is in good form for redemption in accordance with the check redemption procedure, honor the check presented as part of such check redemption privilege out of the moneys monies specifically allocated to the Trust Portfolio in such advice for such purpose.