Common use of Sale of Shares by the Fund Clause in Contracts

Sale of Shares by the Fund. The Fund reserves the right to sell Shares to investors pursuant to applications received and accepted by the Fund or its transfer agent or any other lawful method. The Fund also reserves the right to issue Shares in connection with the merger or consolidation of any other investment company, trust, or personal holding company with the Fund or the Fund's acquisition by purchase or otherwise of all or substantially all of the assets of an investment company, trust, or personal holding company. Any right granted to the Distributor to accept orders for Shares, to make sales on behalf of the Fund, or to purchase Shares for resale will not apply to Shares issued in connection with the merger or consolidation of any other investment company with the Fund or its acquisition by purchase or otherwise of all or substantially all of the assets of any investment company, trust, or personal holding company, or substantially all of the outstanding shares or interests of any such entity, and this right shall not apply to shares that may be offered by the Fund to shareholders by virtue of their being shareholders of the Fund.