Common use of Sale and Repurchase of Shares Clause in Contracts

Sale and Repurchase of Shares. (a) Underwriter, as agent for the Fund, will sell Shares to the public against orders therefor at the public offering price, all such sales to comply with the provisions of the 1940 Act and the rules and regulations of the Securities and Exchange Commission promulgated thereunder. (b) Underwriter will also have the right to take, as agent for the Fund, all actions, which, in Underwriter's judgment, are reasonably necessary and proper to carry into effect the distribution of the Shares. (c) The net asset value of the Shares of each Portfolio (or Class of Shares of a Portfolio) shall be determined in the manner provided in the Fund's then current Registration Statement, and when determined shall be applicable to transactions as provided for in the Registration Statement. The net asset value of the Shares of each Portfolio (or each Class of Shares of a Portfolio) shall be calculated by the Fund or by another entity on behalf of the Fund. Underwriter shall have no duty to inquire into nor shall it have any liability for the accuracy of the net asset value per share as calculated. On every sale of Shares, the Fund shall receive the applicable net asset value of the Shares promptly, but in no event later than the third business day following the date on which Underwriter shall have received an order for the purchase of the Shares. (d) Upon receipt of purchase instructions, Underwriter will transmit such instructions to the Fund or its transfer agent for registration of the Shares purchased. (e) Nothing in this Agreement shall prevent Underwriter or any affiliated person (as defined in the 0000 Xxx) of Underwriter from acting as underwriter or distributor for any other person, firm or corporation (including other investment companies) or in any way limit or restrict Underwriter or any such affiliated person from buying, selling or trading any securities for its or their own account or for the accounts of others for whom it or they may be acting; provided, however, that Underwriter expressly represents that it will undertake no activities which, in its judgment, will adversely affect the performance of its obligations to the Fund under this Agreement. (f) Underwriter, as agent of the Fund and for the account of the Portfolio(s), may repurchase the Shares at such prices and upon such terms and conditions as shall be specified in the Fund's then current Registration Statement. At the end of each business day, the Underwriter shall notify the Fund and the Fund's transfer agent of the number of Shares redeemed for each Portfolio, and the identity of the shareholders or dealers offering Shares for repurchase. Upon such notice and acceptance by the Fund, the Fund shall pay the Underwriter the net asset value of the redeemed shares in cash or in the form of a credit against monies due the Fund from the Underwriter as proceeds from the sale of Shares. The Fund reserves the right to suspend such repurchase right upon written notice to the Underwriter. The Underwriter further agrees to act as agent for the Fund to receive and transmit promptly to the Fund's transfer agent, shareholder and dealer requests for redemption of Shares in the Porfolio(s).

Sale and Repurchase of Shares. (a) Underwriter, as agent for the Fund, will sell Shares to the public against orders therefor at the public offering price, all such sales to comply with the provisions of the 1940 Act and the rules and regulations of the Securities and Exchange Commission promulgated thereunder. (b) Underwriter will also have the right to take, as agent for the Fund, all actions, which, in Underwriter's judgment, are reasonably necessary and proper to carry into effect the distribution of the Shares. (c) The net asset value of the Shares of each Portfolio (or Class of Shares of a Portfolio) shall be determined in the manner provided in the Fund's then current Registration Statement, and when determined shall be applicable to transactions as provided for in the Registration Statement. The net asset value of the Shares of each Portfolio (or each Class of Shares of a Portfolio) shall be calculated by the Fund or by another entity on behalf of the Fund. Underwriter shall have no duty to inquire into nor shall it have any or liability for the accuracy of the net asset value per share as is calculated. On every sale of Sharessale, the Fund shall receive the applicable net asset value public offering price of the Shares promptly, but in no event later than the third business day following the date on which Underwriter shall have received an order for the purchase of the Shares. (d) Upon receipt of purchase instructions, Underwriter will transmit such instructions to the Fund or its transfer agent for registration of the Shares purchased. (e) Nothing in this the Agreement shall prevent Underwriter or any affiliated person (as defined in the 0000 XxxAct) of Underwriter from acting as underwriter or distributor for any other person, firm or corporation (including other investment companies) or in any way limit or restrict Underwriter or any such affiliated person from buying, selling or trading any securities for its or their own account or for the accounts of others for whom it or they may be acting; provided, however, that Underwriter expressly represents that it will undertake no activities which, in its judgment, will adversely affect the performance of its obligations to the Fund under this Agreement. (f) Underwriter, as agent of the Fund and for the account of the Portfolio(s), may repurchase the Shares at such prices and upon such terms and conditions as shall be specified in the Fund's then current Registration Statement. At the end of each business day, the Underwriter shall notify the Fund and the Fund's transfer agent of the number of Shares redeemed for each Portfolio, and the identity of the shareholders or dealers offering Shares for repurchase. Upon such notice and acceptance by the Fundnotice, the Fund shall pay the Underwriter the net asset value of the redeemed shares in cash or in the form of a credit against monies due the Fund from the Underwriter as proceeds from the sale of Shares. The Fund reserves the right to suspend such repurchase right upon written notice to the Underwriter. The Underwriter further agrees to act as agent for the Fund to receive and transmit promptly to the Fund's transfer agent, shareholder and dealer requests for redemption of Shares in the Porfolio(sPortfolio(s).

Sale and Repurchase of Shares. (a) Underwriter, as agent for the Fund, will sell Shares to the public against orders therefor therefore at the public offering price, all such sales to comply with the provisions of the 1940 Act and the rules and regulations of the Securities and Exchange Commission promulgated thereunder. (b) Underwriter will also have the right to take, as agent for the Fund, all actions, which, in Underwriter's judgment, are reasonably necessary and proper to carry into effect the distribution of the Shares. (c) The net asset value of the Shares of each Portfolio (or Class of Shares of a Portfolio) shall be determined in the manner provided in the Fund's then current Registration Statement, and when determined shall be applicable to transactions as provided for in the Registration Statement. The net asset value of the Shares of each Portfolio (or each Class of Shares of a Portfolio) shall be calculated by the Fund or by another entity on behalf of the Fund. Underwriter shall have no duty to inquire into nor shall it have any liability for the accuracy of the net asset value per share as calculated. On every sale of Shares, the Fund shall receive the applicable net asset value of the Shares promptly, but in no event later than the third business day following the date on which Underwriter shall have received an order for the purchase of the Shares. (d) Upon receipt of purchase instructions, Underwriter will transmit such instructions to the Fund or its transfer agent for registration of the Shares purchased. (e) Nothing in this Agreement shall prevent Underwriter or any affiliated person (as defined in the 0000 1000 Xxx) of Underwriter from acting as underwriter or distributor for any other person, firm or corporation (including other investment companies) or in any way limit or restrict Underwriter or any such affiliated person from buying, selling or trading any securities for its or their own account or for the accounts of others for whom it or they may be acting; provided, however, that Underwriter expressly represents that it will undertake no activities which, in its judgment, will adversely affect the performance of its obligations to the Fund under this Agreement. (f) Underwriter, as agent of the Fund and for the account of the Portfolio(s), may repurchase the Shares at such prices and upon such terms and conditions as shall be specified in the Fund's then current Registration Statement. At the end of each business day, the Underwriter shall notify the Fund and the Fund's transfer agent of the number of Shares redeemed for each Portfolio, and the identity of the shareholders or dealers offering Shares for repurchase. Upon such notice and acceptance by the Fund, the Fund shall pay the Underwriter the net asset value of the redeemed shares in cash or in the form of a credit against monies due the Fund from the Underwriter as proceeds from the sale of Shares. The Fund reserves the right to suspend such repurchase right upon written notice to the Underwriter. The Underwriter further agrees to act as agent for the Fund to receive and transmit promptly to the Fund's transfer agent, shareholder and dealer requests for redemption of Shares in the Porfolio(sPortfolio(s).

Sale and Repurchase of Shares. (a) Underwriter, as agent for the Fund, will sell Shares to the public against orders therefor at the public offering price, all such sales to comply with the provisions of the 1940 Act and the rules and regulations of the Securities and Exchange Commission promulgated thereunder. (b) Underwriter will also have the right to take, as agent for the Fund, all actions, which, in Underwriter's judgment, are reasonably necessary and proper to carry into effect the distribution of the Shares. (c) The net asset value of the Shares of each Portfolio (or Class of Shares of a Portfolio) shall be determined in the manner provided in the Fund's then current Registration Statement, and when determined shall be applicable to transactions as provided for in the Registration Statement. The net asset value of the Shares of each Portfolio (or each Class of Shares of a Portfolio) shall be calculated by the Fund or by another entity on behalf of the Fund. Underwriter shall have no duty to inquire into nor shall it have any liability for the accuracy of the net asset value per share as calculated. On every sale of Shares, the Fund shall receive the applicable net asset value of the Shares promptly, but in no event later than the third business day following the date on which Underwriter shall have received an order for the purchase of the Shares. (d) Upon receipt of purchase instructions, Underwriter will transmit such instructions to the Fund or its transfer agent for registration of the Shares purchased. (e) Nothing in this Agreement shall prevent Underwriter or any affiliated person (as defined in the 0000 Xxx) of Underwriter from acting as underwriter or distributor for any other person, firm or corporation (including other investment companies) or in any way limit or restrict Underwriter or any such affiliated person from buying, selling or trading any securities for its or their own account or for the accounts of others for whom it or they may be acting; provided, however, that Underwriter expressly represents that it will undertake no activities which, in its judgment, will adversely affect the performance of its obligations to the Fund under this Agreement. (f) Underwriter, as agent of the Fund and for the account of the Portfolio(s), may repurchase the Shares at such prices and upon such terms and conditions as shall be specified in the Fund's then current Registration Statement. At the end of each business day, the Underwriter shall notify the Fund and the Fund's transfer agent of the number of Shares redeemed for each Portfolio, and the identity of the shareholders or dealers offering Shares for repurchase. Upon such notice and acceptance by the Fund, the Fund shall pay the Underwriter the net asset value of the redeemed shares in cash or in the form of a credit against monies due the Fund from the Underwriter as proceeds from the sale of Shares. The Fund reserves the right to suspend such repurchase right upon written notice to the Underwriter. The Underwriter further agrees to act as agent for the Fund to receive and transmit promptly to the Fund's transfer agent, shareholder and dealer requests for redemption of Shares in the Porfolio(sPortfolio(s).

Sale and Repurchase of Shares. (a) Underwriter, as agent for the FundTrust, will sell Shares to the public against orders therefor therefore at the public offering price, all such sales to comply with the provisions of the 1940 Act and the rules and regulations of the Securities and Exchange Commission and other applicable regulatory authorities promulgated thereunder. (b) Underwriter will also have the right to take, as agent for the FundTrust, all actions, which, in Underwriter's judgment, are reasonably necessary and proper to carry into effect the distribution of the Shares, but at no time shall have the authority to bind Fund assets or settle Trust disputes. (c) The net asset value of the Shares of each Portfolio Fund (or Class of Shares of a PortfolioFund) shall be determined in the manner provided in the FundTrust's then current Registration Statement, and when determined shall be applicable to transactions as provided for in the Registration Statement. The net asset value of the Shares of each Portfolio Fund (or each Class of Shares of a PortfolioFund) shall be calculated by the Fund Trust or by another entity on behalf of the FundTrust. Underwriter shall have no duty to inquire into nor shall it have any liability for the accuracy of the net asset value per share as calculated. On every sale of Shares, the Fund Trust shall receive the applicable net asset value of the Shares promptly, but in no event later than the third first business day following the date on which Underwriter shall have received an order for the purchase of the Shares. (d) Upon receipt of purchase instructions, Underwriter will transmit such instructions to the Fund Trust or its transfer agent for registration of the Shares purchased. (e) Nothing in this Agreement shall prevent Underwriter or any affiliated person (as defined in the 0000 Xxx1940 Act) of Underwriter from acting as underwriter or distributor for any other person, firm or corporation (including other investment companies) or in any way limit or restrict Underwriter or any such affiliated person from buying, selling or trading any securities for its or their own account or for the accounts of others for whom it or they may be acting; provided, however, that Underwriter expressly represents that it will undertake no activities which, in its judgment, will adversely affect the performance of its obligations to the Fund Trust under this AgreementAgreement or applicable law. (f) Underwriter, as agent of the Fund Trust and for the account of the Portfolio(sFund(s), may repurchase the Shares at such prices and upon such terms and conditions as shall be specified in the FundTrust's then current Registration Statement. All accounts shall be handled in an appropriate manner and at all times in accordance with the procedures and forms set forth in the respective prospectus. At the end of each business day, the Underwriter shall notify the Fund Trust and the FundTrust's transfer agent of the number of Shares redeemed for each PortfolioFund, and the identity of the shareholders or dealers offering Shares for repurchase. Upon such notice and acceptance by the FundTrust, the Fund Trust shall pay the Underwriter the net asset value of the redeemed shares in cash or in the form of a credit against monies due the Fund Trust from the Underwriter as proceeds from the sale of Shares. The Fund Trust reserves the right to suspend such repurchase right upon written notice to the Underwriter. The Underwriter further agrees to act as agent for the Fund Trust to receive and transmit promptly to the FundTrust's transfer agent, shareholder and dealer requests for redemption of Shares in the Porfolio(sFund(s).

Sale and Repurchase of Shares. (a) Underwriter, as agent for the Fund, will sell Shares to the public against orders therefor at the public offering price, all such sales to comply with the provisions of the 1940 Act and the rules and regulations of the Securities and Exchange Commission promulgated thereunder. (b) Underwriter will also have the right to take, as agent for the Fund, all actions, which, in Underwriter's judgment, are reasonably necessary and proper to carry into effect the distribution of the Shares. (c) The net asset value of the Shares of each Portfolio (or Class of Shares of a Portfolio) shall be determined in the manner provided in the Fund's then current Registration Statement, and when determined shall be applicable to transactions as provided for in the Registration Statement. The net asset value of the Shares of each Portfolio (or each Class of Shares of a Portfolio) shall be calculated by the Fund or by another entity on behalf of the Fund. Underwriter shall have no duty to inquire into nor shall it have any liability for the accuracy of the net asset value per share as calculated. On every sale of Shares, the Fund shall receive the applicable net asset value of the Shares promptly, but in no event later than the third business day following the date on which Underwriter shall have received an order for the purchase of the Shares. (d) Upon receipt of purchase instructions, Underwriter will transmit such instructions to the Fund or its transfer agent for registration of the Shares purchased. (e) Nothing in this Agreement shall prevent Underwriter or any affiliated person (as defined in the 0000 Xxx1940 Act) of Underwriter from acting frxx xxxxng as underwriter or distributor for any other person, firm or corporation (including other investment companies) or in any way limit or restrict Underwriter or any such affiliated person from buying, selling or trading any securities for its or their own account or for the accounts of others for whom it or they may be acting; provided, however, that Underwriter expressly represents that it will undertake no activities which, in its judgment, will adversely affect the performance of its obligations to the Fund under this Agreement. (f) Underwriter, as agent of the Fund and for the account of the Portfolio(s), may repurchase the Shares at such prices and upon such terms and conditions as shall be specified in the Fund's then current Registration Statement. At the end of each business day, the Underwriter shall notify the Fund and the Fund's transfer agent of the number of Shares redeemed for each Portfolio, and the identity of the shareholders or dealers offering Shares for repurchase. Upon such notice and acceptance by the Fund, the Fund shall pay the Underwriter the net asset value of the redeemed shares in cash or in the form of a credit against monies due the Fund from the Underwriter as proceeds from the sale of Shares. The Fund reserves the right to suspend such repurchase right upon written notice to the Underwriter. The Underwriter further agrees to act as agent for the Fund to receive and transmit promptly to the Fund's transfer agent, shareholder and dealer requests for redemption of Shares in the Porfolio(s).

Sale and Repurchase of Shares. (a) Underwriter, as agent for the Fund, will sell Shares to the public against orders therefor at the public offering pricenet asset value, all such sales to comply with the provisions of the 1940 Act and the rules and regulations of the Securities and Exchange Commission promulgated thereunder. (b) Underwriter will also have the right to take, as agent for the FundTrust, all actions, actions which, in Underwriter's judgment, are reasonably necessary and proper to carry into effect the distribution of the Shares. (c) The net asset value of the Shares of each Portfolio Series (or Class of Shares of a PortfolioSeries) shall be determined in the manner provided in the Fund's then current Registration Statement, and when determined shall be applicable to transactions as provided for in the Registration Statement. The net asset value of the Shares of each Portfolio Series (or each Class of Shares of a PortfolioSeries) shall be calculated by the Fund Trust or by another entity on behalf of the FundTrust. Underwriter shall have no duty to inquire into nor shall it have any or liability for the accuracy of the net asset value per share as calculated. . (d) On every sale of Sharessale, the Fund Trust shall receive the applicable net asset value of the Shares promptly, but in no event later than the third business day following the date on which Underwriter shall have received an order for the purchase of the Shares. (de) Upon receipt of purchase instructions, Underwriter will transmit such instructions to the Fund Trust or its transfer agent for registration of the Shares purchased. (ef) Nothing in this Agreement shall prevent Underwriter or any affiliated person (as defined in the 0000 XxxAct) of Underwriter from acting as underwriter or distributor for any other person, firm or corporation (including other investment companies) or in any way limit or restrict Underwriter or any such affiliated person from buying, selling or trading any securities for its or their own account or for the accounts of others for whom it or they may be acting; provided, however, that Underwriter expressly represents that it will undertake no activities which, in its judgment, will adversely affect the performance of its obligations to the Fund Trust under this Agreement. (fg) Underwriter, as agent of the Fund and for the account of the Portfolio(s)Trust, may repurchase the Shares at such prices and upon such terms and conditions as shall be specified in the Fund's then current Registration Statement. At the end of each business day, the Underwriter shall notify the Fund Trust and the FundTrust's transfer agent of the number of Shares redeemed for each Portfolioshares redeemed, and the identity of the shareholders or dealers offering Shares for repurchase. Upon such notice and acceptance by the Fundnotice, the Fund Trust shall pay the Underwriter the net asset value of the redeemed shares in cash or in the form of a credit against monies due the Fund Trust from the Underwriter as proceeds from the sale of Shares. The Fund Trust reserves the right to suspend such repurchase right upon written notice to the Underwriter. The Underwriter further agrees to act as agent for the Fund Trust to receive and transmit promptly to the FundTrust's transfer agent, shareholder and dealer requests for redemption of Shares in the Porfolio(s)Shares.

Sale and Repurchase of Shares. (a) Underwriter, as agent for the Fund, will sell Shares to the public against orders therefor there for at the public offering price, all such sales to comply with the provisions of the 1940 Act and the rules and regulations of the Securities and Exchange Commission promulgated thereunder. (b) Underwriter will also have the right to take, as agent for the Fund, all actions, which, in Underwriter's judgment, are reasonably necessary and proper to carry into effect the distribution of the Shares. In doing so, Underwriter may assign certain of its services under this Agreement to a third party. Such assignment shall not relieve Underwriter of its obligation under this Agreement, and it shall remain liable for the actions of its contractors and vendors to the extent required by this Agreement. (c) The net asset value of the Shares of each Portfolio (or Class of Shares of a Portfolio) shall be determined in the manner provided in the Fund's then current Registration Statement, and when determined shall be applicable to transactions as provided for in the Registration Statement. The net asset value of the Shares of each Portfolio (or each Class of Shares of a Portfolio) shall be calculated by the Fund or by another entity on behalf of the Fund. Underwriter shall have no duty to inquire into nor shall it have any liability for the accuracy of the net asset value per share as calculated. On every sale of Shares, the Fund shall receive the applicable net asset value of the Shares promptly, but in no event later than the third business day following the date on which Underwriter shall have received an order for the purchase of the Shares. (d) Upon receipt of purchase instructions, Underwriter will transmit such instructions to the Fund or its transfer agent for registration of the Shares purchased. (e) Nothing in this Agreement shall prevent Underwriter or any affiliated person (as defined in the 0000 Xxx1940 Act) of Underwriter from acting as underwriter or distributor ox xxxxxxbutor for any other person, firm or corporation (including other investment companies) or in any way limit or restrict Underwriter or any such affiliated person from buying, selling or trading any securities for its or their own account or for the accounts of others for whom it or they may be acting; provided, however, that the Underwriter expressly agrees that it shall not for its own account purchase any Shares of the Fund except for investment purposes and that it shall not for its own account sell any such shares except for redemption of such share by the Trust and that Underwriter expressly represents that it will undertake no activities which, in its judgment, will adversely affect the performance of its obligations to the Fund under this Agreement. (f) Underwriter, as agent of the Fund and for the account of the Portfolio(s), may repurchase the Shares at such prices and upon such terms and conditions as shall be specified in the Fund's then current Registration Statement. At the end of each business day, the Underwriter shall notify the Fund and the Fund's transfer agent of the number of Shares redeemed for each Portfolio, and the identity of the shareholders or dealers offering Shares for repurchase. Upon such notice and acceptance by the Fund, the Fund shall pay the Underwriter the net asset value of the redeemed shares in cash or in the form of a credit against monies due the Fund from the Underwriter as proceeds from the sale of Shares. The Fund reserves the right to suspend such repurchase right upon written notice to the Underwriter. The Underwriter further agrees to act as agent for the Fund to receive and transmit promptly to the Fund's transfer agent, shareholder and dealer requests for redemption of Shares in the Porfolio(s).

Sale and Repurchase of Shares. (a) Underwriter, as agent for the Fund, will sell Shares to the public against orders therefor therefore at the public offering price, all such sales to comply with the provisions of the 1940 Act and the rules and regulations of the Securities and Exchange Commission promulgated thereunder. (b) Underwriter will also have the right to take, as agent for the Fund, all actions, which, in Underwriter's judgment, are reasonably necessary and proper to carry into effect the distribution of the Shares. (c) The net asset value of the Shares of each Portfolio (or Class class of Shares of a Portfolio) shall be determined in the manner provided in the Fund's then current Registration Statement, and when determined shall be applicable to transactions as provided for in the Registration Statement. The net asset value of the Shares of each Portfolio (or each Class class of Shares of a Portfolio) shall be calculated by the Fund or by another entity person on behalf of the Fund. Underwriter shall have no duty to inquire into nor shall it have any liability for the accuracy of the net asset value per share as calculated. On every sale of Shares, the Fund shall receive the applicable net asset value of the Shares promptly, but in no event later than the third business day following the date on which Underwriter shall have received an order for the purchase of the Shares. (d) Upon receipt of purchase instructions, Underwriter will transmit such instructions to the Fund or its transfer agent for registration of the Shares purchased. (e) Nothing in this Agreement shall prevent Underwriter or any affiliated person (as defined in the 0000 Xxx1940 Act) of Underwriter from acting as underwriter or distributor xxxxxxxutor for any other person, firm or corporation (including other investment companies) or in any way limit or restrict Underwriter or any such affiliated person from buying, selling or trading any securities for its or their own account or for the accounts of others for whom it or they may be acting; provided, however, that Underwriter expressly represents that it will undertake no activities which, in its judgment, will adversely affect the performance of its obligations to the Fund under this Agreement. (f) Underwriter, as agent of the Fund and for the account of the Portfolio(s), may repurchase the Shares at such prices and upon such terms and conditions as shall be specified in the Fund's then current Registration Statement. At the end of each business day, the Underwriter shall notify the Fund and the Fund's transfer agent of the number of Shares redeemed for each Portfolio, and the identity of the shareholders or dealers offering Shares for repurchase. Upon such notice and acceptance by the Fund, the Fund shall pay the Underwriter the net asset value of the redeemed shares in cash or in the form of a credit against monies due the Fund from the Underwriter as proceeds from the sale of Shares. The Subject to applicable law, the Fund reserves the right to suspend such repurchase right upon written notice to the Underwriter. The Underwriter further agrees to act as agent for the Fund to receive and transmit promptly to the Fund's transfer agent, shareholder and dealer requests for redemption of Shares in the Porfolio(sPortfolio(s).

Sale and Repurchase of Shares. (a) Underwriter, as agent for the Fund, will sell Shares to the public against orders therefor at the public offering price, all such sales to comply with the provisions of the 1940 Act and the rules and regulations of the Securities and Exchange Commission promulgated thereunder. (b) Underwriter will also have the right to take, as agent for the Fund, all actions, which, in Underwriter's judgment, are reasonably necessary and proper to carry into effect the distribution of the Shares. (c) The net asset value of the Shares of each Portfolio (or Class of Shares of a Portfolio) shall be determined in the manner provided in the Fund's then current Registration Statement, and when determined shall be applicable to transactions as provided for in the Registration Statement. The net asset value of the Shares of each Portfolio (or each Class of Shares of a Portfolio) shall be calculated by the Fund or by another entity on behalf of the Fund. Underwriter shall have no duty to inquire into nor shall it have any or liability for the accuracy of the net asset value per share as is calculated. On every sale of Sharessale, the Fund shall receive the applicable net asset value public offering price of the Shares promptly, but in no event later than the third business day following the date on which Underwriter shall have received an order for the purchase of the Shares. (d) Upon receipt of purchase instructions, Underwriter will transmit such instructions to the Fund or its transfer agent for registration of the Shares purchased. (e) Nothing in this the Agreement shall prevent Underwriter or any affiliated person (as defined in the 0000 XxxAct) of Underwriter from acting as underwriter or distributor for any other person, firm or corporation (including other investment companies) or in any way limit or restrict Underwriter or any such affiliated person from buying, selling or trading any securities for its or their own account or for the accounts of others for whom it or they may be acting; provided, however, that Underwriter expressly represents that it will undertake no activities which, in its judgment, will adversely affect the performance of its obligations to the Fund under this Agreement. (f) Underwriter, as agent of the Fund and for the account of the Portfolio(s), may repurchase the Shares at such prices and upon such terms and conditions as shall be specified in the Fund's then current Registration Statement. At the end of each business day, the Underwriter shall notify the Fund and the Fund's transfer agent of the number of Shares redeemed for each Portfolio, and the identity of the shareholders or dealers offering Shares for repurchase. Upon such notice and acceptance by the Fundnotice, the Fund shall pay the Underwriter the net asset value of the redeemed shares in cash or in the form of a credit against monies due the Fund from the Underwriter as proceeds from the sale of Shares. The Fund reserves the right to suspend such repurchase right upon written notice to the Underwriter. The Underwriter further agrees to act as agent for the Fund to receive and transmit promptly to the Fund's transfer agent, shareholder and dealer requests for redemption of Shares in the Porfolio(s).

Sale and Repurchase of Shares. (a) UnderwriterUnderwriter will have the right, as agent for the Fund, will to sell Shares to the public against orders therefor at the public offering priceprice (as defined in sub-paragraph 2(d) hereof.) (b) Underwriter will also have the right, as agent for the Fund, to sell Shares at their net asset value to such persons as may be approved by the Board of Directors of the Fund, all such sales to comply with the provisions of the 1940 Act, the Securities Act of 1933 and the rules and regulations of the Securities and Exchange Commission promulgated thereunder. (bc) Underwriter will also have the right to take, as agent for the Fund, all actions, actions which, in Underwriter's judgmentjudgement, are reasonably necessary and proper to carry into effect the distribution of the Shares. (cd) The public offering price shall be the net asset value of Shares. (e) The net asset value of the Shares of each Portfolio (or Class of Shares of a Portfolio) shall be determined in the manner provided in the Fund's then current Registration Statementprospectus and statement of additional information relating to the Shares (the "Prospectus"), and when determined shall be applicable to transactions as provided for in the Registration StatementProspectus. The net asset value of the Shares of each Portfolio (or each Class of Shares of a Portfolio) shall be calculated by the Fund or by another entity on behalf of the Fund. Underwriter shall have no duty to inquire into nor shall it have any or liability for the accuracy of the net asset value per share Share as calculated. On every sale . (f) If Underwriter receives any funds for the purchase of Sharesshares, the Fund shall receive it will deliver the applicable net asset value of the Shares promptly, but in no event later than the third business day following the date on which Underwriter shall have received an order for the purchase of the Shares. (dg) Upon receipt of purchase or redemption instructions, Underwriter will transmit such instructions to the Fund or its transfer agent for registration of the Shares purchasedpurchased or redeemed. (eh) Nothing in this Agreement shall prevent Underwriter or any affiliated person (as defined in the 0000 XxxAct) of Underwriter from acting as underwriter or distributor for any other person, firm or corporation (including other investment companies) or in any way limit or restrict Underwriter or any such affiliated person from buying, selling or trading any securities for its or their own account or for the accounts of others for whom it or they may be acting; provided, however, that Underwriter expressly represents agrees that it will not for its own account purchase any shares of the Fund except for investment purposes and that it will not for its own account sell any such shares except by redemption of such shares by the Fund, and that it will undertake no activities which, in its judgment, will adversely affect the performance of its obligations to the Fund under this Agreement. (fi) Underwriter, as agent of the Fund Underwriter will maintain all regulatory books and for the account of the Portfolio(s), may repurchase the Shares at such prices and upon such terms and conditions as shall be specified records in the Fund's then current Registration Statement. At the end of each business day, the Underwriter shall notify the Fund and the Fund's transfer agent of the number of Shares redeemed for each Portfolio, and the identity of the shareholders or dealers offering Shares for repurchase. Upon such notice and acceptance by the Fund, the Fund shall pay the Underwriter the net asset value of the redeemed shares in cash or in the correct form of a credit against monies due the Fund from the Underwriter as proceeds from the sale of Shares. The Fund reserves the right to suspend such repurchase right upon written notice to the Underwriter. The Underwriter further agrees to act as agent for the Fund to receive and transmit promptly to the Fund's transfer agent, shareholder and dealer requests for redemption of Shares in the Porfolio(s)with its obligations under this Agreement.

Sale and Repurchase of Shares. (a) Underwriter, Fund/Plan is hereby granted the right as agent for the FundTrust, will to sell Shares to the public against orders therefor at the public offering price, all such sales to comply with the provisions of the 1940 Act and the rules and regulations of the Securities and Exchange Commission promulgated thereunderprice (as defined in sub-paragraph 2.(c) hereof). (b) Underwriter Fund/Plan will also have the right to take, as agent for the FundTrust, all actions, actions which, in UnderwriterFund/Plan's judgment, are reasonably necessary and proper to carry into effect the distribution of the Shares. (c) The public offering price shall be the net asset value of the Shares then in effect. (d) The net asset value of each Portfolio (or Class of the Shares of a Portfolio) shall be determined in the manner provided in the Fund's then current Registration Statementprospectus, and statement of additional information relating to the Shares and when determined shall be applicable to all transactions as provided for in the Registration Statementprospectus. The net asset value of the Shares of each Portfolio (or each Class of Shares of a Portfolio) shall be calculated by the Fund Trust or by another entity on behalf of the Trust. Fund. Underwriter /Plan shall have no duty to inquire into nor shall it have any or liability for the accuracy of the net asset value per share Share as calculated. . (e) On every sale of Sharessale, the Fund Trust shall receive the applicable net asset value of the Shares promptly, but in no event later than the third business day following the date on which Underwriter shall have received an order for the purchase of the Shares. (df) Upon receipt of purchase instructions, Underwriter Fund/Plan will transmit such instructions to the Fund Trust or its transfer agent for registration of the Shares purchased. (eg) Nothing in this Agreement shall prevent Underwriter Fund/Plan or any affiliated ================================================================================ Underwriting Agreement between Xxxxxxxx International Funds, Xxxxxxxx International Capital Management and Fund/Plan Broker Services, Inc. Date drafted November 25, 1996 Page 2 of 9 pages. person (as defined in the 0000 XxxAct) of Underwriter Fund/Plan from acting as underwriter or distributor for any other person, firm or corporation (including other investment companies) or in any way limit or restrict Underwriter Fund/Plan or any such affiliated person from buying, selling or trading any securities for its or their own account or for the accounts of others for whom it or they may be acting; provided, however, that Underwriter Fund/Plan expressly represents agrees that it will not for its own account purchase any shares of the Trust except for investment purposes and that it will not for its own account sell any such shares except by redemption of such shares by the Trust, and that it will not undertake no in any activities which, in its judgment, will adversely affect the performance of its obligations to the Fund Trust under this Agreement. (fh) Underwriter, as agent of the Fund and for the account of the Portfolio(s), Fund/Plan may repurchase the Shares at such prices and upon such terms and conditions as shall be specified in the Fund's then current Registration Statement. At the end of each business day, the Underwriter shall notify the Fund and the Fund's transfer agent of the number of Shares redeemed for each Portfolio, and the identity of the shareholders or dealers offering Shares for repurchase. Upon such notice and acceptance by the Fund, the Fund shall pay the Underwriter the net asset value of the redeemed shares in cash or in the form of a credit against monies due the Fund from the Underwriter as proceeds from the sale of Shares. The Fund reserves the right to suspend such repurchase right upon written notice to the Underwriter. The Underwriter further agrees to act as agent for the Fund to receive and transmit promptly to the Fund's transfer agent, shareholder and dealer requests for redemption of Shares in the Porfolio(s)Prospectus.

Sale and Repurchase of Shares. (a) Underwriter, SSH is hereby granted the right as agent for the Fund, will to sell Shares to the public against orders therefor at the public offering price, all such sales to comply with the provisions of the 1940 Act and the rules and regulations of the Securities and Exchange Commission promulgated thereunderprice (as defined in sub-paragraph 2.(c) below). (b) Underwriter SSH will also have the right to take, as agent for the Fund, all actions, actions which, in UnderwriterSSH's judgment, are reasonably necessary and proper to carry into effect the distribution of the Shares. (c) The public offering price shall be the net asset value of the Shares then in effect plus any applicable sales charge. (d) The net asset value of each Portfolio (or Class of the Shares of a Portfolio) shall be determined in the manner provided in the Fund's then current Registration Statement, prospectus and statement of additional information relating to the Shares and when determined shall be applicable to all transactions as provided for in the Registration Statementprospectus. The net asset value of the Shares of each Portfolio (or each Class of Shares of a Portfolio) shall be calculated by the Fund or by another entity on behalf of the Fund. Underwriter SSH shall have no duty to inquire into nor shall it have any or liability for the accuracy of the net asset value per share Share as calculated. . (e) On every sale of Sharessale, the Fund shall receive the applicable net asset value of the Shares promptly, but in no event later than the third business day following the date on which Underwriter shall have received an order for the purchase of the Shares. (df) Upon receipt of purchase instructions, Underwriter SSH will transmit such instructions to the Fund or its transfer agent for registration of the Shares purchased. (eg) Nothing in this Agreement shall prevent Underwriter SSH or any affiliated person (as defined in the 0000 XxxAct) of Underwriter SSH from acting as underwriter or distributor for any other person, firm or corporation (including other investment companies) or in any way limit or restrict Underwriter SSH or any such affiliated person from buying, selling or trading any securities for its or their own account or for the accounts of others for whom it or they may be acting; provided, -------------------------------------------------------------------------------- Underwriting Agreement between Spirit of America Investment Fund, Inc. and SSH Securities, Inc. however, that Underwriter SSH expressly represents agrees that it will not for its own account purchase any shares of the Fund except for investment purposes and that it will not for its own account sell any such shares except by redemption of such shares by the Fund, and that it will not undertake no in any activities which, in its judgment, will adversely affect the performance of its obligations to the Fund under this Agreement. (fh) UnderwriterSSH may, as agent of the Fund and for the account of the Portfolio(s)but is not required to, may repurchase the Shares at such prices and upon such terms and conditions as shall be specified in the Fund's then current Registration Statement. At the end of each business day, the Underwriter shall notify the Fund and the Fund's transfer agent of the number of Shares redeemed for each Portfolio, and the identity of the shareholders or dealers offering Shares for repurchase. Upon such notice and acceptance by the Fund, the Fund shall pay the Underwriter the net asset value of the redeemed shares in cash or in the form of a credit against monies due the Fund from the Underwriter as proceeds from the sale of Shares. The Fund reserves the right to suspend such repurchase right upon written notice to the Underwriter. The Underwriter further agrees to act as agent for the Fund to receive and transmit promptly to the Fund's transfer agent, shareholder and dealer requests for redemption of Shares in the Porfolio(s)Prospectus.

Sale and Repurchase of Shares. (a) Underwriter, as agent for the FundTrust, will sell Shares to the public against orders therefor there for at the public offering price, all such sales to comply with the provisions of the 1940 Act and the rules and regulations of the Securities and Exchange Commission promulgated thereunder. (b) Underwriter will also have the right to take, as agent for the FundTrust, all actions, which, in Underwriter's judgment, are reasonably necessary and proper to carry into effect the distribution of the Shares. (c) The net asset value of the Shares of each Portfolio (or Class of Shares of a Portfolio) shall be determined in the manner provided in the FundTrust's then current Registration Statement, and when determined shall be applicable to transactions as provided for in the Registration Statement. The net asset value of the Shares of each Portfolio (or each Class of Shares of a Portfolio) shall be calculated by the Fund Trust or by another entity on behalf of the FundTrust. Underwriter shall have no duty to inquire into nor shall it have any liability for the accuracy of the net asset value per share as calculated. On every sale of Shares, the Fund Trust shall receive the applicable net asset value of the Shares promptly, but in no event later than the third business day following the date on which Underwriter shall have received an order for the purchase of the Shares. (d) Upon receipt of purchase instructions, Underwriter will transmit such instructions to the Fund Trust or its transfer agent for registration of the Shares purchased. (e) Nothing in this Agreement shall prevent Underwriter or any affiliated person (as defined in the 0000 Xxx) of Underwriter from acting as underwriter or distributor for any other person, firm or corporation (including other investment companies) or in any way limit or restrict Underwriter or any such affiliated person from buying, selling or trading any securities for its or their own account or for the accounts of others for whom it or they may be acting; provided, however, that Underwriter expressly represents that it will undertake no activities which, in its judgment, will adversely affect the performance of its obligations to the Fund Trust under this Agreement. (f) Underwriter, as agent of the Fund Trust and for the account of the Portfolio(s), may repurchase the Shares at such prices and upon such terms and conditions their net asset value as shall be specified in the FundTrust's then current Registration Statement. At the end of each business day, the Underwriter shall notify the Fund Trust and the FundTrust's transfer agent of the number of Shares redeemed for each Portfolio, Portfolio and the identity of the shareholders or dealers offering Shares for repurchase. Upon such notice and acceptance by the FundTrust, the Fund Trust shall pay the Underwriter the net asset value of the redeemed shares in cash or in the form of a credit against monies due the Fund Trust from the Underwriter as proceeds from the sale of Shares. The Fund Trust reserves the right to suspend such repurchase right upon written notice to the Underwriter. The Underwriter further agrees to act as agent for the Fund Trust to receive and transmit promptly to the FundTrust's transfer agent, shareholder and dealer requests for redemption of Shares in the Porfolio(sPortfolio(s).

Sale and Repurchase of Shares. (a) Underwriter, as agent for the Fund, will sell Shares to the public against orders therefor at the public offering pricenet asset value, all such sales to comply with the provisions of the 1940 Act and the rules and regulations of the Securities and Exchange Commission promulgated thereunder. (b) Underwriter will also have the right to take, as agent for the Fund, all actions, which, in Underwriter's judgmentjudgement, are reasonably necessary and proper to carry into effect the distribution of the Shares. (c) The net asset value of the Shares of each Portfolio (or Class of Shares of a Portfolio) shall be determined in the manner provided in the Fund's then current Registration Statement, and when determined shall be applicable to transactions as provided for in the Registration Statement. The net asset value of the Shares of each Portfolio (or each Class of Shares of a Portfolio) shall be calculated by the Fund or by another entity on behalf of the Fund. Underwriter shall have no duty to inquire into nor shall it have any or liability for the accuracy of the net asset value per share as is calculated. . (d) On every sale of Sharessale, the Fund shall receive the applicable net asset value of the Shares promptly, but in no event later than the third business day following the date on which Underwriter shall have received an order for the purchase of the Shares. (de) Upon receipt of purchase instructions, Underwriter will transmit such instructions to the Fund or its transfer agent for registration of the Shares purchased. (ef) Nothing in this the Agreement shall prevent Underwriter or any affiliated person (as defined in the 0000 XxxAct) of Underwriter from acting as underwriter or distributor for any other person, firm or corporation (including other investment companies) or in any way limit or restrict Underwriter or any such affiliated person from buying, selling or trading any securities for its or their own account or for the accounts of others for whom it or they may be acting; provided, however, that Underwriter expressly represents that it will undertake no activities which, in its judgment, will adversely affect the performance of its obligations to the Fund under this Agreement. (fg) Underwriter, as agent of the Fund and for the account of the Portfolio(s), may repurchase the Shares at such prices and upon such terms and conditions as shall be specified in the Fund's then current Registration Statement. At the end of each business day, the Underwriter shall notify the Fund and the Fund's transfer agent of the number of Shares redeemed for each Portfolio, and the identity of the shareholders or dealers offering Shares for repurchase. Upon such notice and acceptance by the Fundnotice, the Fund shall pay the Underwriter the net asset value of the redeemed shares in cash or in the form of a credit against monies due the Fund from the Underwriter as proceeds from the sale of Shares. The Fund reserves the right to suspend such repurchase right upon written notice to the Underwriter. The Underwriter further agrees to act as agent for the Fund to receive and transmit promptly to the Fund's transfer agent, shareholder and dealer requests for redemption of Shares in the Porfolio(s).

Sale and Repurchase of Shares. (a) Underwriter, as agent for the Fund, will sell Shares to the public against orders therefor therefore at the public offering price, all such sales to comply with the provisions of the 1940 Act and the rules and regulations of the Securities and Exchange Commission promulgated thereunder. (b) Underwriter will also have the right to take, as agent for the Fund, all actions, which, in Underwriter's judgment, are reasonably necessary and proper to carry into effect the distribution of the Shares. (c) The net asset value of the Shares of each Portfolio (or Class of Shares of a Portfolio) shall be determined in the manner provided in the Fund's then current Registration Statement, and when determined shall be applicable to transactions as provided for in the Registration Statement. The net asset value of the Shares of each Portfolio (or each Class of Shares of a Portfolio) shall be calculated by the Fund or by another entity on behalf of the Fund. Underwriter shall have no duty to inquire into nor shall it have any or liability for the accuracy of the net asset value per share as is calculated. On every sale of Sharessale, the Fund shall receive the applicable net asset value public offering price of the Shares promptly, but in no event later than the third business day following the date on which Underwriter shall have received an order for the purchase of the Shares. (d) Upon receipt of purchase instructions, Underwriter will transmit such instructions to the Fund or its transfer agent for registration of the Shares purchased. (e) Nothing in this the Agreement shall prevent Underwriter or any affiliated person (as defined in the 0000 XxxAct) of Underwriter from acting as underwriter or distributor for any other person, firm or corporation (including other investment companies) or in any way limit or restrict Underwriter or any such affiliated person from buying, selling or trading any securities for its or their own account or for the accounts of others for whom it or they may be acting; provided, however, that Underwriter expressly represents that it will undertake no activities which, in its judgment, will adversely affect the performance of its obligations to the Fund under this Agreement. (f) Underwriter, as agent of the Fund and for the account of the Portfolio(s)Portfolios, may repurchase the Shares at such prices and upon such terms and conditions as shall be specified in the Fund's then current Registration Statement. At the end of each business day, the Underwriter shall notify the Fund and the Fund's transfer agent of the number of Shares redeemed for each Portfolio, and the identity of the shareholders or dealers offering Shares for repurchase. Upon such notice and acceptance by the Fundnotice, the Fund shall pay the Underwriter the net asset value of the redeemed shares in cash or in the form of a credit against monies due the Fund from the Underwriter as proceeds from the sale of Shares. The Fund reserves the right to suspend such repurchase right upon written notice to the Underwriter. The Underwriter further agrees to act as agent for the Fund to receive and transmit promptly to the Fund's transfer agent, shareholder and dealer requests for redemption of Shares in the Porfolio(s)Portfolios.

Sale and Repurchase of Shares. (a) Underwriter, as agent for the FundTrust, will sell Shares to the public against orders therefor there for at the public offering price, all such sales to comply with the provisions of the 1940 Act and the rules and regulations of the Securities and Exchange Commission promulgated thereunder. (b) Underwriter will also have the right to take, as agent for the FundTrust, all actions, which, in Underwriter's judgment, are reasonably necessary and proper to carry into effect the distribution of the Shares. In doing so, Underwriter may assign certain of its services under this Agreement to a third party. Such assignment shall not relieve Underwriter of its obligation under this Agreement, and it shall remain liable for the actions of its contractors and vendors to the extent required by this Agreement. (c) The net asset value of the Shares of each Portfolio (or Class of Shares of a Portfolio) shall be determined in the manner provided in the FundTrust's then current Registration Statement, and when determined shall be applicable to transactions as provided for in the Registration Statement. The net asset value of the Shares of each Portfolio (or each Class of Shares of a Portfolio) shall be calculated by the Fund Trust or by another entity on behalf of the FundTrust. Underwriter shall have no duty to inquire into nor shall it have any liability for the accuracy of the net asset value per share as calculated. On every sale of Shares, the Fund Trust shall receive the applicable net asset value of the Shares promptly, but in no event later than the third business day following the date on which Underwriter shall have received an order for the purchase of the Shares. (d) Upon receipt of purchase instructions, Underwriter will transmit such instructions to the Fund Trust or its transfer agent for registration of the Shares purchased. (e) Nothing in this Agreement shall prevent Underwriter or any affiliated person (as defined in the 0000 Xxx1940 Act) of Underwriter from acting as underwriter or distributor for any other person, firm or corporation (including other investment companies) or in any way limit or restrict Underwriter or any such affiliated person from buying, selling or trading any securities for its or their own account or for the accounts of others for whom it or they may be acting; provided, however, that the Underwriter expressly agrees that it shall not for its own account purchase any Shares of the Trust except for investment purposes and that it shall not for its own account sell any such shares except for redemption of such Shares by the Trust and that Underwriter expressly represents that it will undertake no activities which, in its judgment, will adversely affect the performance of its obligations to the Fund Trust under this Agreement. (f) Underwriter, as agent of the Fund Trust and for the account of the Portfolio(s), may repurchase the Shares at such prices and upon such terms and conditions as shall be specified in the FundTrust's then current Registration Statement. At the end of each business day, the Underwriter shall notify the Fund Trust and the FundTrust's transfer agent of the number of Shares redeemed for each Portfolio, and the identity of the shareholders or dealers offering Shares for repurchase. Upon such notice and acceptance by the FundTrust, the Fund Trust shall pay the Underwriter the net asset value of the redeemed shares in cash or in the form of a credit against monies due the Fund Trust from the Underwriter as proceeds from the sale of Shares. The Fund Trust reserves the right to suspend such repurchase right upon written notice to the Underwriter. The Underwriter further agrees to act as agent for the Fund Trust to receive and transmit promptly to the FundTrust's transfer agent, shareholder and dealer requests for redemption of Shares in the Porfolio(sPortfolio(s).

Sale and Repurchase of Shares. (a) Underwriter, as agent for the Fund, will sell Shares to the public against orders therefor at the public offering pricenet asset value, all such sales to comply with the provisions of the 1940 Act and the rules and regulations of the Securities and Exchange Commission promulgated thereunder. (b) Underwriter will also have the right to take, as agent for the Fund, all actions, which, in Underwriter's judgmentjudgement, are reasonably necessary and proper to carry into effect the distribution of the Shares. (c) The net asset value of the Shares of each Portfolio (or Class of Shares of a Portfolio) shall be determined in the manner provided in the Fund's then current Registration Statement, and when determined shall be applicable to transactions as provided for in the Registration Statement. The net asset value of the Shares of each Portfolio (or each Class of Shares of a Portfolio) shall be calculated by the Fund or by another entity on behalf of the Fund. Underwriter shall have no duty to inquire into nor shall it have any or liability for the accuracy of the net asset value per share as is calculated. . (d) On every sale of Sharessale, the Fund shall receive the applicable net asset value of the Shares promptly, but in no event later than the third business day following the date on which Underwriter shall have received an order for the purchase of the Shares. (de) Upon receipt of purchase instructions, Underwriter will transmit such instructions to the Fund or its transfer agent for registration of the Shares purchased. (ef) Nothing in this the Agreement shall prevent Underwriter or any affiliated person (as defined in the 0000 XxxAct) of Underwriter from acting as underwriter or distributor for any other person, firm or corporation (including other investment companies) or in any way limit or restrict Underwriter or any such affiliated person from buying, selling or trading any securities for its or their own account or for the accounts of others for whom it or they may be acting; provided, however, that Underwriter expressly represents that it will undertake no activities which, in its judgment, will adversely affect the performance of its obligations to the Fund under this Agreement. (fg) Underwriter, as agent of the Fund and for the account of the Portfolio(s), may repurchase the Shares at such prices and upon such terms and conditions as shall be specified in the Fund's then current Registration Statement. At the end of each business day, the Underwriter shall notify the Fund and the Fund's transfer agent of the number of Shares redeemed for each Portfolio, and the identity of the shareholders or dealers offering Shares for repurchase. Upon such notice and acceptance by the Fundnotice, the Fund shall pay the Underwriter the net asset value of the redeemed shares in cash or in the form of a credit against monies due the Fund from the Underwriter as proceeds from the sale of Shares. The Fund reserves the right to suspend such repurchase right upon written notice to the Underwriter. The Underwriter further agrees to act as agent for the Fund to receive and transmit promptly to the Fund's transfer agent, shareholder and dealer requests for redemption of Shares in the Porfolio(sPortfolio(s).

Sale and Repurchase of Shares. (a) Underwriter, as agent for the Fund, will sell Shares to the public against orders therefor at the public offering pricenet asset value, all such sales to comply with the provisions of the 1940 Act and the rules and regulations of the Securities and Exchange Commission promulgated thereunder.. 2 (b) Underwriter will also have the right to take, as agent for the FundTrust, all actions, actions which, in Underwriter's judgment, are reasonably necessary and proper to carry into effect the distribution of the Shares. (c) The net asset value of the Shares of each Portfolio Series (or Class of Shares of a PortfolioSeries) shall be determined in the manner provided in the Fund's then current Registration Statement, and when determined shall be applicable to transactions as provided for in the Registration Statement. The net asset value of the Shares of each Portfolio Series (or each Class of Shares of a PortfolioSeries) shall be calculated by the Fund Trust or by another entity on behalf of the FundTrust. Underwriter shall have no duty to inquire into nor shall it have any or liability for the accuracy of the net asset value per share as calculated. . (d) On every sale of Sharessale, the Fund Trust shall receive the applicable net asset value of the Shares promptly, but in no event later than the third business day following the date on which Underwriter shall have received an order for the purchase of the Shares. (de) Upon receipt of purchase instructions, Underwriter will transmit such instructions to the Fund Trust or its transfer agent for registration of the Shares purchased. (ef) Nothing in this Agreement shall prevent Underwriter or any affiliated person (as defined in the 0000 XxxAct) of Underwriter from acting as underwriter or distributor for any other person, firm or corporation (including other investment companies) or in any way limit or restrict Underwriter or any such affiliated person from buying, selling or trading any securities for its or their own account or for the accounts of others for whom it or they may be acting; provided, however, that Underwriter expressly represents that it will undertake no activities which, in its judgment, will adversely affect the performance of its obligations to the Fund Trust under this Agreement. (fg) Underwriter, as agent of the Fund and for the account of the Portfolio(s)Trust, may repurchase the Shares at such prices and upon such terms and conditions as shall be specified in the Fund's then current Registration Statement. At the end of each business day, the Underwriter shall notify the Fund Trust and the FundTrust's transfer agent of the number of Shares redeemed for each Portfolioshares redeemed, and the identity of the shareholders or dealers offering Shares for repurchase. Upon such notice and acceptance by the Fundnotice, the Fund Trust shall pay the Underwriter the net asset value of the redeemed shares in cash or in the form of a credit against monies due the Fund Trust from the Underwriter as proceeds from the sale of Shares. The Fund Trust reserves the right to suspend such repurchase right upon written notice to the Underwriter. The Underwriter further agrees to act as agent for the Fund Trust to receive and transmit promptly to the FundTrust's transfer agent, shareholder and dealer requests for redemption of Shares in the Porfolio(s)Shares.

Sale and Repurchase of Shares. (a) Underwriter, as agent for the Fund, will sell Shares to the public against orders therefor at the public offering pricenet asset value, all such sales to comply with the provisions of the 1940 Act and the rules and regulations of the Securities and Exchange Commission promulgated thereunder. (b) Underwriter will also have the right to take, as agent for the Fund, all actions, which, in Underwriter's judgment, are reasonably necessary and proper to carry into effect the distribution of the Shares. (c) The net asset value of the Shares of each Portfolio (or Class of Shares of a Portfolio) shall be determined in the manner provided in the Fund's then current Registration Statement, and when determined shall be applicable to transactions as provided for in the Registration Statement. The net asset value of the Shares of each Portfolio (or each Class of Shares of a Portfolio) shall be calculated by the Fund or by another entity on behalf of the Fund. Underwriter shall have no duty to inquire into nor shall it have any or liability for the accuracy of the net asset value per share as is calculated. . (d) On every sale of Sharessale, the Fund shall receive the applicable net asset value of the Shares promptly, but in no event later than the third business day following the date on which Underwriter shall have received an order for the purchase of the Shares. (de) Upon receipt of purchase instructions, Underwriter will transmit such instructions to the Fund or its transfer agent for registration of the Shares purchased. (ef) Nothing in this the Agreement shall prevent Underwriter or any affiliated person (as defined in the 0000 XxxAct) of Underwriter from acting as underwriter or distributor for any other person, firm or corporation (including other investment companies) or in any way limit or restrict Underwriter or any such affiliated person from buying, selling or trading any securities for its or their own account or for the accounts of others for whom it or they may be acting; provided, however, that Underwriter expressly represents that it will undertake no activities which, in its judgment, will adversely affect the performance of its obligations to the Fund under this Agreement. (fg) Underwriter, as agent of the Fund and for the account of the Portfolio(s), may repurchase the Shares at such prices and upon such terms and conditions as shall be specified in the Fund's then current Registration Statement. At the end of each business day, the Underwriter shall notify the Fund and the Fund's transfer agent of the number of Shares redeemed for each Portfolio, and the identity of the shareholders or dealers offering Shares for repurchase. Upon such notice and acceptance by the Fundnotice, the Fund shall pay the Underwriter the net asset value of the redeemed shares in cash or in the form of a credit against monies moneys due the Fund from the Underwriter as proceeds from the sale of Shares. The Fund reserves the right to suspend such repurchase right upon written notice to the Underwriter. The Underwriter further agrees to act as agent for the Fund to receive and transmit promptly to the Fund's transfer agent, shareholder and dealer requests for redemption of Shares in the Porfolio(s).

Sale and Repurchase of Shares. (a) Underwriter, as agent for the Fund, will sell Shares to the public against orders therefor there for at the public offering price, all such sales to comply with the provisions of the 1940 Act and the rules and regulations of the Securities and Exchange Commission promulgated thereunder. (b) Underwriter will also have the right to take, as agent for the Fund, all actions, which, in Underwriter's judgment, are reasonably necessary and proper to carry into effect the distribution of the Shares. In doing so, Underwriter may assign certain of its services under this Agreement to a third party. Such assignment shall not relieve Underwriter of its obligation under this Agreement, and it shall remain liable for the actions of its contractors and vendors to the extent required by this Agreement. (c) The net asset value of the Shares of each Portfolio (or Class of Shares of a Portfolio) shall be determined in the manner provided in the Fund's then current Registration Statement, and when determined shall be applicable to transactions as provided for in the Registration Statement. The net asset value of the Shares of each Portfolio (or each Class of Shares of a Portfolio) shall be calculated by the Fund or by another entity on behalf of the Fund. Underwriter shall have no duty to inquire into nor shall it have any liability for the accuracy of the net asset value per share as calculated. On every sale of Shares, the Fund shall receive the applicable net asset value of the Shares promptly, but in no event later than the third business day following the date on which Underwriter shall have received an order for the purchase of the Shares. (d) Upon receipt of purchase instructions, Underwriter will transmit such instructions to the Fund or its transfer agent for registration of the Shares purchased. (e) Nothing in this Agreement shall prevent Underwriter or any affiliated person (as defined in the 0000 Xxx1940 Act) of Underwriter from acting frox xxxxxg as underwriter or distributor for any other person, firm or corporation (including other investment companies) or in any way limit or restrict Underwriter or any such affiliated person from buying, selling or trading any securities for its or their own account or for the accounts of others for whom it or they may be acting; provided, however, that the Underwriter expressly agrees that it shall not for its own account purchase any Shares of the Fund except for investment purposes and that it shall not for its own account sell any such shares except for redemption of such share by the Trust and that Underwriter expressly represents that it will undertake no activities which, in its judgment, will adversely affect the performance of its obligations to the Fund under this Agreement. (f) Underwriter, as agent of the Fund and for the account of the Portfolio(s), may repurchase the Shares at such prices and upon such terms and conditions as shall be specified in the Fund's then current Registration Statement. At the end of each business day, the Underwriter shall notify the Fund and the Fund's transfer agent of the number of Shares redeemed for each Portfolio, and the identity of the shareholders or dealers offering Shares for repurchase. Upon such notice and acceptance by the Fund, the Fund shall pay the Underwriter the net asset value of the redeemed shares in cash or in the form of a credit against monies due the Fund from the Underwriter as proceeds from the sale of Shares. The Fund reserves the right to suspend such repurchase right upon written notice to the Underwriter. The Underwriter further agrees to act as agent for the Fund to receive and transmit promptly to the Fund's transfer agent, shareholder and dealer requests for redemption of Shares in the Porfolio(s).

Sale and Repurchase of Shares. (a) Underwriter, as agent for the Fund, will sell Shares to the public against orders therefor at the public offering pricenet asset value, all such sales to comply with the provisions of the 1940 Act and the rules and regulations of the Securities and Exchange Commission promulgated thereunder. (b) Underwriter will also have the right to take, as agent for the Fund, all actions, which, in Underwriter's judgment, are reasonably necessary and proper to carry into effect the distribution of the Shares. (c) The net asset value of the Shares of each Portfolio (or Class of Shares of a Portfolio) shall be determined in the manner provided in the Fund's then current Registration Statement, and when determined shall be applicable to transactions as provided for in the Registration Statement. The net asset value of the Shares of each Portfolio (or each Class of Shares of a Portfolio) shall be calculated by the Fund or by another entity on behalf of the Fund. Underwriter shall have no duty to inquire into nor shall it have any or liability for the accuracy of the net asset value per share as is calculated. . (d) On every sale of Sharessale, the Fund shall receive the applicable net asset value of the Shares promptly, but in no event later than the third business day following the date on which Underwriter shall have received an order for the purchase of the Shares. (de) Upon receipt of purchase instructions, Underwriter will transmit such instructions to the Fund or its transfer agent for registration of the Shares purchased. (ef) Nothing in this the Agreement shall prevent Underwriter or any affiliated person (as defined in the 0000 XxxAct) of Underwriter from acting as underwriter or distributor for any other person, firm or corporation (including other investment companies) or in any way limit or restrict Underwriter or any such affiliated person from buying, selling or trading any securities for its or their own account or for the accounts of others for whom it or they may be acting; provided, however, that Underwriter expressly represents that it will undertake no activities which, in its judgment, will adversely affect the performance of its obligations to the Fund under this Agreement. (fg) Underwriter, as agent of the Fund and for the account of the Portfolio(s), may repurchase the Shares at such prices and upon such terms and conditions as shall be specified in the Fund's then current Registration Statement. At the end of each business day, the Underwriter shall notify the Fund and the Fund's transfer agent of the number of Shares redeemed for each Portfolio, and the identity of the shareholders or dealers offering Shares for repurchase. Upon such notice and acceptance by the Fundnotice, the Fund shall pay the Underwriter the net asset value of the redeemed shares in cash or in the form of a credit against monies due the Fund from the Underwriter as proceeds from the sale of Shares. The Fund reserves the right to suspend such repurchase right upon written notice to the Underwriter. The Underwriter further agrees to act as agent for the Fund to receive and transmit promptly to the Fund's transfer agent, shareholder and dealer requests for redemption of Shares in the Porfolio(s).

Sale and Repurchase of Shares. (a) Underwriter, as agent for the Fund, will sell Shares to the public against orders therefor therefore at the public offering price, all such sales to comply with the provisions of the 1940 Act and the rules and regulations of the Securities and Exchange Commission promulgated thereunder. (b) Underwriter will also have the right to take, as agent for the Fund, all actions, which, in Underwriter's judgment, are reasonably necessary and proper to carry into effect the distribution of the Shares. (c) The net asset value of the Shares of each Portfolio (or Class of Shares of a Portfolio) shall be determined in the manner provided in the Fund's then current Registration Statement, and when determined shall be applicable to transactions as provided for in the Registration Statement. The net asset value of the Shares of each Portfolio (or each Class of Shares of a Portfolio) shall be calculated by the Fund or by another entity on behalf of the Fund. Underwriter shall have no duty to inquire into nor shall it have any liability for the accuracy of the net asset value per share as calculated. On every sale of Shares, the Fund shall receive the applicable net asset value of the Shares promptly, but in no event later than the third business day following the date on which Underwriter shall have received an order for the purchase of the Shares. (d) Upon receipt of purchase instructions, Underwriter will transmit such instructions to the Fund or its transfer agent for registration of the Shares purchased. (e) Nothing in this Agreement shall prevent Underwriter or any affiliated person (as defined in the 0000 Xxx) of Underwriter from acting as underwriter or distributor for any other person, firm or corporation (including other investment companies) or in any way limit or restrict Underwriter or any such affiliated person from buying, selling or trading any securities for its or their own account or for the accounts of others for whom it or they may be acting; provided, however, that Underwriter expressly represents that it will undertake no activities which, in its judgment, will adversely affect the performance of its obligations to the Fund under this Agreement. (f) Underwriter, as agent of the Fund and for the account of the Portfolio(s), may repurchase the Shares at such prices and upon such terms and conditions as shall be specified in the Fund's then current Registration Statement. At the end of each business day, the Underwriter shall notify the Fund and the Fund's transfer agent of the number of Shares redeemed for each Portfolio, and the identity of the shareholders or dealers offering Shares for repurchase. Upon such notice and acceptance by the Fund, the Fund shall pay the Underwriter the net asset value of the redeemed shares in cash or in the form of a credit against monies due the Fund from the Underwriter as proceeds from the sale of Shares. The Fund reserves the right to suspend such repurchase right upon written notice to the Underwriter. The Underwriter further agrees to act as agent for the Fund to receive and transmit promptly to the Fund's transfer agent, shareholder and dealer requests for redemption of Shares in the Porfolio(sPortfolio(s).

Sale and Repurchase of Shares. (a) Underwriter, SSH is hereby granted the right as agent for the Fund, will to sell Shares to the public against orders therefor at the public offering price, all such sales to comply with the provisions of the 1940 Act and the rules and regulations of the Securities and Exchange Commission promulgated thereunderprice (as defined in sub-paragraph 2.(c) below). (b) Underwriter SSH will also have the right to take, as agent for the Fund, all actions, actions which, in UnderwriterSSH's judgment, are reasonably necessary and proper to carry into effect the distribution of the Shares. (c) The public offering price shall be the net asset value of the Shares then in effect plus any applicable sales charge. (d) The net asset value of each Portfolio (or Class of the Shares of a Portfolio) shall be determined in the manner provided in the Fund's then current Registration Statement, prospectus and statement of additional information relating to the Shares and when determined shall be applicable to all transactions as provided for in the Registration Statementprospectus. The net asset netasset value of the Shares of each Portfolio (or each Class of Shares of a Portfolio) shall be calculated by the Fund or by another entity on behalf of the Fund. Underwriter SSH shall have no duty to inquire into nor shall it have any or liability for the accuracy of the net asset value per share Share as calculated. . (e) On every sale of Sharessale, the Fund shall receive the applicable net asset value of the Shares promptly, but in no event later than the third business day following the date on which Underwriter shall have received an order for the purchase of the Shares. (df) Upon receipt of purchase instructions, Underwriter SSH will transmit such instructions to the Fund or its transfer agent for registration of the Shares purchased. (eg) Nothing in this Agreement shall prevent Underwriter SSH or any affiliated person (as defined in the 0000 XxxAct) of Underwriter SSH from acting as underwriter or distributor for any other person, firm or corporation (including other investment companies) or in any way limit or restrict Underwriter SSH or any such affiliated person from buying, selling or trading any securities for its or their own account or for the accounts of others for whom it or they may be acting; provided, however, that Underwriter SSH expressly represents agrees that it will not for its own account purchase any shares of the Fund except for investment purposes and that it will not for its own account sell any such shares except by redemption of such shares by the Fund, and that it will not undertake no in any activities which, in its judgment, will adversely affect the performance of its obligations to the Fund under this Agreement. (fh) UnderwriterSSH may, as agent of the Fund and for the account of the Portfolio(s)but is not required to, may repurchase the Shares at such prices and upon such terms and conditions as shall be specified in the Fund's then current Registration Statement. At the end of each business day, the Underwriter shall notify the Fund and the Fund's transfer agent of the number of Shares redeemed for each Portfolio, and the identity of the shareholders or dealers offering Shares for repurchase. Upon such notice and acceptance by the Fund, the Fund shall pay the Underwriter the net asset value of the redeemed shares in cash or in the form of a credit against monies due the Fund from the Underwriter as proceeds from the sale of Shares. The Fund reserves the right to suspend such repurchase right upon written notice to the Underwriter. The Underwriter further agrees to act as agent for the Fund to receive and transmit promptly to the Fund's transfer agent, shareholder and dealer requests for redemption of Shares in the Porfolio(s)Prospectus.