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

Sale of Shares by the Trust. The Trust reserves the right to sell Shares through other distributors or directly to investors through subscriptions received by the Trust or the Trust's transfer agent. The right given to the Distributor under this Agreement shall not apply to Shares issued in connection with (a) the merger or consolidation of any other investment company with the Trust, (b) the Trust's acquisition, by purchase or otherwise, of all or substantially all of the assets or stock of any other investment company, or (c) the reinvestment in Shares by shareholders of the Trust of dividends or other distributions or any other offering by the Trust of securities to Trust shareholders.