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

Sale of Shares of the Fund. 3.1. The Distributor will have the right to sell on behalf of the Fund, as its agent, any shares needed but not more than the shares needed (except for clerical errors in transmission) to fill unconditional orders for shares of the Fund placed with the Distributor by investors. The Distributor agrees that the Fund shall receive 100% of the net asset value, determined as set forth in the Prospectus, for all shares sold by the Distributor. 3.2. The shares are to be sold by or through the Distributor to investors at a price per share ("offering price") equal to the sum of the net asset value per share determined as set forth in the Prospectus. 3.3. The Fund shall have the right to suspend the sale of shares at times when redemption is suspended pursuant to the conditions set forth in subsection 4.2. The Fund shall also have the right to suspend the sale of shares if a banking moratorium shall have been declared by federal or New York authorities, if there shall have been some other event, that, in the judgment of the Trustees of the Fund makes it impracticable or inadvisable to sell shares, or if in the judgment of the Trustees, the suspension of the sale of shares is in the best interests of the Fund. 3.4. The Fund, or any agent of the Fund designated in writing by the Fund, shall be promptly advised of all purchase orders for shares received by the Distributor. Any order may be rejected by the Fund for any reason whatsoever. The Fund (or its agent) will confirm orders upon their receipt, will make appropriate book entries and upon receipt by the Fund (or its agent) of payment therefore, will deliver deposit receipts or certificates for such shares pursuant to the instructions of the Distributor. Payment shall be made to the Fund in New York Clearing House funds, or by federal funds wire, cashiers check or certified check. The Distributor agrees to cause such payment and such instructions to be delivered promptly to the Fund (or its agent).

Sale of Shares of the Fund. 3.1. 3.1 The Distributor will have the right to sell on behalf of the Fund, as its agent, any shares needed but not more than the shares needed (except for clerical errors in transmission) to fill unconditional orders for shares of the Fund placed with the Distributor by investors. The Distributor agrees that the Fund shall receive 100% of the net asset value, determined as set forth in the Fund's Prospectus, for all shares sold by the Distributor. 3.2. 3.2 The shares are to be sold by or through the Distributor to investors at a price per share ("offering price") equal to the sum of the net asset value per share and any applicable sales charges, determined as set forth in the Fund's Prospectus. The Distributor shall receive compensation for its distribution activities and services as set forth in this Agreement and the Fund's written plan contemplated by Rule 12b-1 under the Investment Company Act, as such plan may be amended from time to time (the "Distribution Plan"). The Trust hereby authorizes the Distributor to provide compensation to Intermediaries for such activities and services, and the Distributor may reallocate all or a portion of its compensation to such Intermediaries for such activities and services. Such reallocation shall be in an amount as set forth from time to time in the Fund's Prospectus. 3.3. 3.3 The Fund Trust shall have the right to suspend the sale of Fund shares at times when redemption is suspended pursuant to the conditions set forth in subsection 4.2. The Fund Trust shall also have the right to suspend the sale of Fund shares if a banking moratorium shall have been declared by federal or New York authorities, if there shall have been some other event, an event that, in the judgment of the Trustees of the Fund Trust, makes it impracticable or inadvisable to sell shares, or if in the judgment of the Trustees, the suspension of the sale of Fund shares is in the best interests of the Fund. 3.4. 3.4 The FundTrust, or any agent of the Fund Trust designated in writing by the FundTrust, shall be promptly advised of all purchase orders for shares received by the Distributor. Any order may be rejected by the Fund Trust for any reason whatsoever. The Fund Trust (or its agent) will confirm orders upon their receipt, will make appropriate book entries and upon receipt by the Fund Trust (or its agent) of payment therefore, will deliver deposit receipts or certificates for such shares pursuant to the instructions of the Distributor. Payment shall be made to the Fund Trust in New York Clearing House funds, or by federal funds wire, cashiers check or certified check. The Distributor agrees to cause such payment and such instructions to be delivered promptly to the Fund Trust (or its agent).