Common use of Sale and Repurchase of Shares Clause in Contracts

Sale and Repurchase of Shares. (a) PDI is hereby granted the right, as agent for the Fund, to sell Shares to the public against orders received at the public offering price as defined in the Fund's Prospectus and Statement of Additional Information. (b) PDI will also have the right to take, as agent for the Fund, all actions which, in PDI's judgment, and subject to the Fund's reasonable approval, are necessary to carry into effect the distribution of the Shares. (c) PDI will act as agent for the Fund in connection with the repurchase of Shares by the Fund upon the terms set forth in the Fund's Prospectus and Statement of Additional Information. (d) The net asset value of the Shares shall be determined in the manner provided in the then current Prospectus and Statement of Additional Information relating to the Shares, and when determined shall be applicable to all transactions as provided in the Prospectus. The net asset value of the Shares shall be calculated by the Fund or by another entity on behalf of the Fund. PDI shall have no duty to inquire into, or liability for, the accuracy of the net asset value per Share as calculated. (e) On every sale, PDI shall promptly pay to the Fund the applicable net asset value of the Shares. (f) Upon receipt of purchase instructions, PDI will transmit such instructions to the Fund or its transfer agent for registration of the Shares purchased. (g) Nothing in this Agreement shall prevent PDI or any affiliated person (as defined in the Act) of PDI from acting as underwriter for any other person, firm or corporation (including other investment companies), or in any way limit or restrict PDI or such affiliated person from buying, selling or trading any securities for its or their own account or for the account of others for whom it or they may be acting, provided, however, that PDI expressly 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 dispose of any such Shares except by redemption of such Shares with the Fund, and that it will not undertake in any activities which will adversely affect the performance of its obligations to the Fund under this Agreement.

Sale and Repurchase of Shares. (a) PDI is hereby granted the right, as agent for the Fund, to sell Shares to the public against orders received at the public offering price as defined in the Fund's Prospectus and Statement of Additional Information. (b) PDI will also have the right to take, as agent for the Fund, all actions which, in PDI's judgment, and subject to the Fund's reasonable approval, are necessary to carry into effect the distribution of the Shares. (c) PDI will act as agent for the Fund in connection with the repurchase of Shares by the Fund upon the terms set forth in the Fund's Prospectus and Statement of Additional Information. (d) The net asset value of the Shares shall be determined in the manner provided in the then current Prospectus and Statement of Additional Information relating to the Shares, and when determined shall be applicable to all transactions as provided in the Prospectus. The net asset value of the Shares shall be calculated by the Fund or by another entity on behalf of the Fund. PDI shall have no duty to inquire into, or liability for, the accuracy of the net asset value per Share as calculated. (e) On every sale, PDI shall promptly pay to the Fund the applicable net asset value of the Shares. (f) Upon receipt of purchase instructions, PDI will transmit such instructions to the Fund or its transfer agent for registration of the Shares purchased. (g) Nothing in this Agreement shall prevent PDI or any affiliated person (as defined in the Act) of PDI from acting as underwriter for any other person, firm or corporation (including other investment companies), or in any way limit or restrict PDI or such affiliated person from buying, selling or trading any securities for its or their own account or for the account of others for whom it or they may be acting, provided, however, that PDI expressly 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 dispose of any such Shares except by redemption of such Shares with the Fund, and that it will not undertake in any activities which which, in its judgment, will adversely affect the performance of its obligations to the Fund under this Agreement.

Sale and Repurchase of Shares. (a) PDI FPSB is hereby granted the right, as agent for the FundTrust, to sell Shares to the public against orders received at the public offering price as defined in the Fund's Trust=s Prospectus and Statement of Additional Information. (b) PDI FPSB will also have the right to take, as agent for the FundTrust, all actions which, in PDIFPSB's judgmentjudgement, and subject to the FundTrust's reasonable approval, are necessary to carry into effect the distribution of the Shares. (c) PDI FPSB will act as agent for the Fund Trust in connection with the repurchase of Shares by the Fund Trust upon the terms set forth in the Fund's Trust=s Prospectus and Statement of Additional Information. (d) The net asset value of the Shares shall be determined in the manner provided in the then current Prospectus and Statement of Additional Information relating to the Shares, and when determined shall be applicable to all transactions as provided in the Prospectus. The net asset value of the Shares shall be calculated by the Fund Trust or by another entity on behalf of the FundTrust. PDI FPSB shall have no duty to inquire into, or liability for, the accuracy of the net asset value per Share as calculated. (e) On every sale, PDI FPSB shall promptly pay to the Fund Trust the applicable net asset value of the Shares. (f) Upon receipt of purchase instructions, PDI FPSB will transmit such instructions to the Fund Trust or its transfer agent for registration of the Shares purchased. (g) Nothing in this Agreement shall prevent PDI FPSB or any affiliated person (as defined in the Act) of PDI FPSB from acting as underwriter for any other person, firm or corporation (including other investment companies), or in any way limit or restrict PDI FPSB or such affiliated person from buying, selling or trading any securities for its or their own account or for the account accounts of others for whom it or they may be acting, ; provided, however, that PDI FPSB expressly agrees that it will not for its own account purchase any Shares of the Fund Trust except for investment purposes, and that it will not for its own account dispose of any such Shares except by redemption of such Shares with the FundTrust, and that it will not undertake in any activities which which, in its judgement, will adversely affect the performance of its obligations to the Fund Trust under this Agreement.

Sale and Repurchase of Shares. (a) PDI FPSB is hereby granted the right, as agent for the FundTrust, to sell Shares to the public against orders received at the public offering price as defined in the Fund's Trust?s Prospectus and Statement of Additional Information. (b) PDI FPSB will also have the right to take, as agent for the FundTrust, all actions which, in PDIFPSB's judgmentjudgement, and subject to the FundTrust's reasonable approval, are necessary to carry into effect the distribution of the Shares. (c) PDI FPSB will act as agent for the Fund Trust in connection with the repurchase of Shares by the Fund Trust upon the terms set forth in the Fund's Trust?s Prospectus and Statement of Additional Information. (d) The net asset value of the Shares shall be determined in the manner provided in the then current Prospectus and Statement of Additional Information relating to the Shares, and when determined shall be applicable to all transactions as provided in the Prospectus. The net asset value of the Shares shall be calculated by the Fund Trust or by another entity on behalf of the FundTrust. PDI FPSB shall have no duty to inquire into, or liability for, the accuracy of the net asset value per Share as calculated. (e) On every sale, PDI FPSB shall promptly pay to the Fund Trust the applicable net asset value of the Shares. (f) Upon receipt of purchase instructions, PDI FPSB will transmit such instructions to the Fund Trust or its transfer agent for registration of the Shares purchased. (g) Nothing in this Agreement shall prevent PDI FPSB or any affiliated person (as defined in the Act) of PDI FPSB from acting as underwriter for any other person, firm or corporation (including other investment companies), or in any way limit or restrict PDI FPSB or such affiliated person from buying, selling or trading any securities for its or their own account or for the account accounts of others for whom it or they may be acting, ; provided, however, that PDI FPSB expressly agrees that it will not for its own account purchase any Shares of the Fund Trust except for investment purposes, and that it will not for its own account dispose of any such Shares except by redemption of such Shares with the FundTrust, and that it will not undertake in any activities which which, in its judgement, will adversely affect the performance of its obligations to the Fund Trust under this Agreement.

Sale and Repurchase of Shares. (a) PDI FDDI is hereby granted the right, as agent for the Fund, to sell Shares to the public against orders received at the public offering price as defined in the Fund's Prospectus and Statement of Additional Information. (b) PDI FDDI will also have the right to take, as agent for the Fund, all actions which, in PDIFDDI's judgment, and subject to the Fund's reasonable approval, are necessary to carry into effect the distribution of the Shares. (c) PDI FDDI will act as agent for the Fund in connection with the repurchase of Shares by the Fund upon the terms set forth in the Fund's Prospectus and Statement of Additional Information. (d) The net asset value of the Shares shall be determined in the manner provided in the then current Prospectus and Statement of Additional Information relating to the Shares, and when determined shall be applicable to all transactions as provided in the Prospectus. The net asset value of the Shares shall be calculated by the Fund or by another entity on behalf of the Fund. PDI FDDI shall have no duty to inquire into, or liability for, the accuracy of the net asset value per Share as calculated. (e) On every sale, PDI FDDI shall promptly pay to the Fund the applicable net asset value of the Shares. (f) Upon receipt of purchase instructions, PDI FDDI will transmit such instructions to the Fund or its transfer agent for registration of the Shares purchased. (g) Nothing in this Agreement shall prevent PDI FDDI or any affiliated person (as defined in the Act) of PDI FDDI from acting actin as underwriter for any other person, firm or corporation (including other investment companies), or in any way limit or restrict PDI FDDI or such affiliated person from buying, selling or trading any securities for its or their own account or for the account of others for whom it or they may be acting, provided, however, that PDI FDDI expressly 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 dispose of any such Shares except by redemption of such Shares with the Fund, and that it will not undertake in any activities which which, in its judgment, will adversely affect the performance of its it obligations to the Fund under this Agreement.

Sale and Repurchase of Shares. (a) PDI Beacon is hereby granted the right, right as agent for the FundTrust, to sell Shares to the public against orders received therefor at the public offering price (as defined in the Fund's Prospectus and Statement of Additional Informationsub-paragraph 2.(c) below). (b) PDI Beacon will also have the right to take, as agent for the FundTrust, all actions which, in PDIBeacon's judgment, and subject to the Fund's reasonable approval, are necessary to carry into effect the distribution of the Shares. (c) PDI will act as agent for The public offering price shall be the Fund net asset value of the Shares then in connection with the repurchase of Shares by the Fund upon the terms set forth in the Fund's Prospectus and Statement of Additional Informationeffect. (d) The net asset value of the Shares shall be determined in the manner provided in the then current Prospectus prospectus and Statement statement of Additional Information additional information relating to the Shares, Shares and when determined shall be applicable to all transactions as provided in the Prospectusprospectus. The net asset value of the Shares shall be calculated by the Fund Trust or by another entity on behalf of the FundTrust. PDI Beacon shall have no duty to inquire into, into or liability for, for the accuracy of the net asset value per Share as calculated. (e) On every sale, PDI the Trust shall promptly pay to the Fund receive the applicable net asset value of the SharesShares promptly. (f) Upon receipt of purchase instructions, PDI Beacon will transmit such instructions to the Fund Trust or its transfer agent for registration of the Shares purchased. (g) Nothing in this Agreement shall prevent PDI Beacon or any affiliated person (as defined in the Act) of PDI Beacon from acting as underwriter or distributor for any other person, firm or corporation (including other investment companies), ) or in any way limit or restrict PDI Beacon or such affiliated person from buying, selling or trading any securities for its or their own account or for the account accounts of others for whom it or they may be acting, ; provided, however, that PDI Beacon expressly agrees that it will not for its own account purchase any Shares shares of the Fund Trust except for investment purposes, purposes and that it will not for its own account dispose of sell any such Shares shares except by redemption of such Shares with shares by the FundTrust, and that it will not undertake in any activities which which, in its judgment, will adversely affect the performance of its obligations to the Fund Trust under this Agreement. (h) Beacon may, but is not required to, repurchase Shares at such prices and upon such terms and conditions as shall be specified in the Prospectus.

Sale and Repurchase of Shares. (a) PDI The Distributor is hereby granted the right, as agent for the Fund, to sell Shares to the public against orders received at the public offering price as defined in the Fund's Prospectus and Statement of Additional Information. (b) PDI The Distributor will also have the right to take, as agent for the Fund, all actions which, in PDI's the Distributor' judgment, and subject to the Fund's reasonable approval, are necessary to carry into effect the distribution of the Shares. (c) PDI The Distributor will act as agent for the Fund in connection with the repurchase of Shares by the Fund upon the terms set forth in the Fund's Prospectus and Statement of Additional Information. (d) The net asset value of the Shares shall be determined in the manner provided in the then current Prospectus and Statement of Additional Information relating to the Shares, and when determined shall be applicable to all transactions as provided in the Prospectus. The net asset value of the Shares shall be calculated by the Fund or by another entity on behalf of the Fund. PDI The Distributor shall have no duty to inquire into, or liability for, the accuracy of the net asset value per Share as calculated. (e) On every sale, PDI the Distributor shall promptly pay to the Fund the applicable net asset value of the Shares. (f) Upon receipt of purchase instructions, PDI the Distributor will transmit such instructions to the Fund or its transfer agent for registration of the Shares purchased. (g) Nothing in this Agreement shall prevent PDI the Distributor or any affiliated person (as defined in the Act) of PDI the Distributor from acting as underwriter for any other person, firm or corporation (including other investment companies), or in any way limit or restrict PDI the Distributor or such affiliated person from buying, selling or trading any securities for its or their own account or for the account of others for whom it or they may be acting, provided, however, that PDI the Distributor expressly 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 dispose of any such Shares except by redemption of such Shares with the Fund, and that it will not undertake in any activities which which, in its judgment, will adversely affect the performance of its obligations to the Fund under this Agreement.

Sale and Repurchase of Shares. (a) PDI Distributors is hereby granted the right, as agent for the Fund, to sell Shares to the public against orders received at the public offering price as defined in the Fund's Prospectus and Statement of Additional Information. (b) PDI Distributors will also have the right to take, as agent for the Fund, all actions which, in PDI's PDI Distributors' judgment, and subject to the Fund's reasonable approval, are necessary to carry into effect the distribution of the Shares. (c) PDI Distributors will act as agent for the Fund in connection with the repurchase of Shares by the Fund upon the terms set forth in the Fund's Prospectus and Statement of Additional Information. (d) The net asset value of the Shares shall be determined in the manner provided in the then current Prospectus and Statement of Additional Information relating to the Shares, and when determined shall be applicable to all transactions as provided in the Prospectus. The net asset value of the Shares shall be calculated by the Fund or by another entity on behalf of the Fund. PDI Distributors shall have no duty to inquire into, or liability for, the accuracy of the net asset value per Share as calculated. (e) On every sale, PDI Distributors shall promptly pay to the Fund the applicable net asset value of the Shares. (f) Upon receipt of purchase instructions, PDI Distributors will transmit such instructions to the Fund or its transfer agent for registration of the Shares purchased. (g) Nothing in this Agreement shall prevent PDI Distributors or any affiliated person (as defined in the Act) of PDI Distributors from acting as underwriter for any other person, firm or corporation (including other investment companies), or in any way limit or restrict PDI Distributors or such affiliated person from buying, selling or trading any securities for its or their own account or for the account of others for whom it or they may be acting, provided, however, that PDI Distributors expressly 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 dispose of any such Shares except by redemption of such Shares with the Fund, and that it will not undertake in any activities which which, in its judgment, will adversely affect the performance of its obligations to the Fund under this Agreement.

Sale and Repurchase of Shares. (a) PDI FPSB is hereby granted the right, as agent for the FundTrust, to sell Shares to the public against orders received at the public offering price as defined in the FundTrust's Prospectus and Statement of Additional Information. (b) PDI FPSB will also have the right to take, as agent for the FundTrust, all actions which, in PDIFPSB's judgmentjudgement, and subject to the FundTrust's reasonable approval, are necessary to carry into effect the distribution of the Shares. (c) PDI FPSB will act as agent for the Fund Trust in connection with the repurchase of Shares by the Fund Trust upon the terms set forth in the FundTrust's Prospectus and Statement of Additional Information. (d) The net asset value of the Shares shall be determined in the manner provided in the then current Prospectus and Statement of Additional Information relating to the Shares, and when determined shall be applicable to all transactions as provided in the Prospectus. The net asset value of the Shares shall be calculated by the Fund Trust or by another entity on behalf of the FundTrust. PDI FPSB shall have no duty to inquire into, or liability for, the accuracy of the net asset value per Share as calculated. (e) On every sale, PDI FPSB shall promptly pay to the Fund Trust the applicable net asset value of the Shares. (f) Upon receipt of purchase instructions, PDI FPSB will transmit such instructions to the Fund Trust or its transfer agent for registration of the Shares purchased. (g) Nothing in this Agreement shall prevent PDI FPSB or any affiliated person (as defined in the Act) of PDI FPSB from acting as underwriter for any other person, firm or corporation (including other investment companies), or in any way limit or restrict PDI FPSB or such affiliated person from buying, selling or trading any securities for its or their own account or for the account accounts of others for whom it or they may be acting, ; provided, however, that PDI FPSB expressly agrees that it will not for its own account purchase any Shares of the Fund Trust except for investment purposes, and that it will not for its own account dispose of any such Shares except by redemption of such Shares with the FundTrust, and that it will not undertake in any activities which which, in its judgement, will adversely affect the performance of its obligations to the Fund Trust under this Agreement.

Sale and Repurchase of Shares. FDDI agrees to provide the services set forth in Schedule B attached ----------- hereto. In addition, FDDI will offer to sell and repurchase and offer to repurchase the Shares in the following manner: (a) PDI is hereby granted the right, as agent for the Fund, FDDI shall offer to sell and sell Shares to the public against orders received therefor at the public offering price prices as defined set forth in the each Fund's Prospectus then-current prospectus and Statement statement of Additional Information.additional information (the "Public ------ Offering Price"). -------------- (b) PDI will also have On every sale, the right to take, as agent for Corporation shall receive from FDDI the Fund, all actions which, in PDI's judgment, and subject to the Fund's reasonable approval, are necessary to carry into effect the distribution applicable net asset value of the Shares. Shares within three (c3) PDI will act as agent for the Fund in connection with the repurchase of Shares by the Fund upon the terms set forth in the Fund's Prospectus and Statement of Additional Information. (d) business days. The net asset value of the Shares shall be determined in the manner provided in the then ten-current Prospectus prospectus and Statement statement of Additional Information additional information relating to the Shares; provided, and when determined shall be applicable to all transactions as provided in however, that the Prospectus. The net asset value of for the Shares shall be calculated by the Fund Corporation or by another entity on behalf of the Fund. PDI Corporation and FDDI shall have no duty to inquire into, into or incur any liability for, for the accuracy of the net asset value per Share as calculatedvalue. (e) On every sale, PDI shall promptly pay to the Fund the applicable net asset value of the Shares. (fc) Upon receipt of purchase instructions, PDI FDDI will transmit such instructions to the Fund Corporation or its transfer agent for registration of the Shares purchased. (gd) FDDI will repurchase and offer to repurchase Shares at such prices and upon such terms and conditions as shall be specified in the then- current prospectus and statement of additional information for the Shares. Nothing in this Agreement shall prevent PDI FDDI or any "affiliated person person" (as defined in the Act0000 Xxx) of PDI FDDI from acting as underwriter for any other person, firm or corporation (including other investment companies), ) or in any way limit or restrict PDI FDDI or such affiliated person from buying, selling selling, or trading any securities for its or their own account or for the account accounts of others for whom it or they may be acting, ; provided, however, that PDI FDDI expressly agrees that it will not for its own account purchase or sell any Shares of the Fund except for investment purposes, and that it will not for its own account dispose of any such Shares except by redemption of such Shares with by the FundCorporation, and that it will not undertake in any activities which which, in its judgement, will adversely affect the performance of its obligations to the Fund Corporation under this Agreement.