Common use of Sale and Repurchase of Shares Clause in Contracts

Sale and Repurchase of Shares. 1. Whenever the Fund shall sell any interests or shares issued by the Fund (“Shares”) it shall deliver to Custodian a Certificate or Instructions specifying the amount of money and/or Securities to be received by Custodian for the sale of such Shares and specifically allocated to an Account for the Fund. 2. Upon receipt of such money, Custodian shall credit such money to an Account in the name of the Fund. 3. Except as provided hereinafter, whenever the Fund desires Custodian to make payment out of the money held by Custodian hereunder in connection with a repurchase of any Shares, it shall furnish to Custodian (a) a resolution or other authorization by or on behalf of the Board directing the Fund’s transfer agent to repurchase the Shares, and (b) a Certificate or Instructions specifying the total amount to be paid for such Shares. Custodian shall make payment of such total amount to the transfer agent specified in such Certificate or Instructions out of the money held in an Account.

Sale and Repurchase of Shares. 1. Whenever the Fund shall sell any interests or shares issued by the Fund (“Shares”) it shall deliver to Custodian a Certificate or Instructions specifying the amount of money and/or Securities to be received by Custodian for the sale of such Shares and specifically allocated to an Account for the Fundsuch Series. 2. Upon receipt of such money, Custodian shall credit such money to an Account in the name of the FundSeries for which such money was received. 3. Except as provided hereinafter, whenever the Fund desires Custodian to make payment out of the money held by Custodian hereunder in connection with a the repurchase of any Shares, it shall furnish to Custodian (a) a resolution or other authorization by or on behalf of the Board Fund’s board directing the Fund’s transfer agent to repurchase redeem the Shares, and (b) a Certificate or Instructions specifying the total amount to be paid for such Shares. Custodian shall make payment of such total amount to the transfer agent specified in such Certificate or Instructions out of the money held in an AccountAccount of the appropriate Series.

Sale and Repurchase of Shares. 1. Whenever the Fund shall sell any interests or shares issued by the Fund (“Shares”) it shall deliver to Custodian a Certificate or Instructions specifying the amount of money cash and/or Securities to be received by Custodian for the sale of such Shares and specifically allocated to an Account for the Fund. 2. Upon receipt of such moneycash or Securities, Custodian shall credit such money cash and/or Securities to an Account in the name of the Fund. 3. Except as provided hereinafter, whenever the Fund desires Custodian to make payment out of the money cash or Securities held by Custodian hereunder in connection with a repurchase of any Shares, it shall furnish to Custodian (a) a resolution or other authorization by or on behalf of the Board directing the Fund’s transfer agent to repurchase the Sharesboard authorizing such repurchase, and (b) a Certificate or Instructions specifying the total amount to be paid for such Shares. Custodian shall make payment of such total amount to the transfer agent specified in such Certificate or Instructions out of the money cash held in an AccountAccount of the Fund.