Common use of Sale of Shares to Distributor Clause in Contracts

Sale of Shares to Distributor. The Fund hereby grants to the Distributor the exclusive right, except as herein otherwise provided, to purchase Shares directly from the Fund upon the terms herein set forth. Such exclusive right hereby granted shall not apply to Shares issued or transferred or sold at net asset value: (a) in connection with the merger or consolidation of the Fund with any other investment company or the acquisition by the Fund of all or substantially all of the assets of or the outstanding Shares of any investment company; (b) in connection with a pro rata distribution directly to the holders of Fund Shares in the nature of a stock dividend or stock split or in connection with any other recapitalization approved by the Board of Trustees; (c) upon the exercise of purchase or subscription rights granted to the holders of Shares on a pro rata basis; (d) in connection with the automatic reinvestment of dividends and distributions from the Fund; or (e) in connection with the issue and sale of Shares to trustees, officers and employees of the Fund; to directors, officers and employees of the investment adviser of the Fund or any principal underwriter (including the Distributor) of the Fund; to retirees of the Distributor that purchased shares of any mutual fund distributed by the Distributor prior to retirement; to directors, officers and employees of Van Xxxxxx Xxxrican Capital, Inc. (formerly The Van Kampxx Xxxxxxx Xxxpanies, Inc.) (the parent of the Distributor), VK/AC Holding, Inc. (formerly VKM Holdings, Inc.)(the parent of The Van Kampxx Xxxxxxx Xxxpanies, Inc.) and to the subsidiaries of VK/AC Holding, Inc.; and to any trust, pension, profit-sharing or other benefit plan for any of the aforesaid persons as permitted by Rule 22d-1 under the Investment Company Act of 1940 (the "1940 Act"). The Distributor shall have the right to buy from the Fund the Shares needed, but not more than the Shares needed (except for reasonable allowances for clerical errors, delays and errors of transmission and cancellation of orders) to fill unconditional orders for Shares received by the Distributor from dealers, agents and investors during each period when particular net asset values and public offering prices are in effect as provided in Section 3 hereof; and the price which the Distributor shall pay for the Shares so purchased shall be the respective net asset value used in determining the public offering price on which such orders were based. The Distributor shall notify the Fund at the end of each such period, or as soon thereafter on that business day as the orders received in such period have been compiled, of the number of Shares of each class that the Distributor elects to purchase hereunder.

Sale of Shares to Distributor. The Fund hereby grants to the Distributor the exclusive right, except as herein otherwise provided, to purchase Shares directly from the Fund upon the terms herein set forth. Such exclusive right hereby granted shall not apply to Shares issued or transferred or sold at net asset value: (a) in connection with the merger or consolidation of the Fund with any other investment company or the acquisition by the Fund of all or substantially all of the assets of or the outstanding Shares of any investment company; (b) in connection with a pro rata distribution directly to the holders of Fund Shares in the nature of a stock dividend or stock split or in connection with any other recapitalization approved by the Board of Trustees; (c) upon the exercise of purchase or subscription rights granted to the holders of Shares on a pro rata basis; (d) in connection with the automatic reinvestment of dividends and distributions from the Fund; or (e) in connection with the issue and sale of Shares to trustees, officers and employees of the Fund; to directors, officers and employees of the investment adviser of the Fund or any principal underwriter (including the Distributor) of the Fund; to retirees of the Distributor that purchased shares of any mutual fund distributed by the Distributor prior to retirement; to directors, officers and employees of Van Xxxxxx Xxxrican Capital, Inc. (formerly The Van Kampxx Xxxxxxx Xxxpanies, Inc.) (the parent of the Distributor), VK/AC Holding, Inc. (formerly VKM Holdings, Inc.)(the parent of The Van Kampxx Xxxxxxx Xxxpanies, Inc.) and to the subsidiaries of VK/AC Holding, Inc.; and to any trust, pension, profit-sharing or other benefit plan for any of the aforesaid persons as permitted by Rule 22d-1 under the Investment Company Act of 1940 (the "1940 Act"). The Distributor shall have the right to buy from the Fund the Shares needed, but not more than the Shares needed (except for reasonable allowances for clerical errors, delays and errors of transmission and cancellation of orders) to fill unconditional orders for Shares received by the Distributor from dealers, agents and investors during each period when particular net asset values and public offering prices are in effect as provided in Section 3 hereof; and the price which the Distributor shall pay for the Shares so purchased shall be the respective net asset value used in determining the public offering price on which such orders were based. The Distributor shall notify the Fund at the end of each such period, or as soon thereafter on that business day as the orders received in such period have been compiled, of the number of Shares of each class that the Distributor elects to purchase hereunder.transmission

Sale of Shares to Distributor. The Fund hereby grants to the Distributor the exclusive right, except as herein otherwise provided, to purchase Shares directly from the Fund upon the terms herein set forth. Such exclusive right hereby granted shall not apply to Shares issued or transferred or sold at net asset value: (a) in connection with the merger or consolidation of the Fund with any other investment company or the acquisition by the Fund of all or substantially all of the assets of or the outstanding Shares of any investment company; (b) in connection with a pro rata distribution directly to the holders of Fund Shares in the nature of a stock dividend or stock split or in connection with any other recapitalization approved by the Board of Trustees; (c) upon the exercise of purchase or subscription rights granted to the holders of Shares on a pro rata basis; (d) in connection with the automatic reinvestment of dividends and distributions from the Fund; or (e) in connection with the issue and sale of Shares to trustees, officers and employees of the Fund; to directors, officers and employees of the investment adviser of the Fund or any principal underwriter (including the Distributor) of the Fund; to retirees of the Distributor that purchased shares of any mutual fund distributed by the Distributor prior to retirement; to directors, officers and employees of Van Xxxxxx Xxxrican Capital, Inc. (formerly The Van Kampxx Xxxxxxx Xxxpanies, Inc.) (the parent of the Distributor), VK/AC Holding, Inc. (formerly VKM Holdings, Inc.)(the parent of The Van Kampxx Xxxxxxx Xxxpanies, Inc.) and to the subsidiaries of VK/AC Holding, Inc.; and to any trust, pension, profit-sharing or other benefit plan for any of the aforesaid persons as permitted by Rule 22d-1 under the Investment Company Act of 1940 (the "1940 Act"). The Distributor shall have the right to buy from the Fund the Shares needed, but not more than the Shares needed (except for reasonable allowances for clerical errors, delays and errors of transmission and cancellation of orders) to fill unconditional orders for Shares received by the Distributor from dealers, agents and investors during each period when particular net asset values and public offering prices are in effect as provided in Section 3 hereof; and the price which the Distributor shall pay for the Shares so purchased shall be the respective net asset value used in determining the public offering price on which such orders were based. The Distributor shall notify the Fund at the end of each such period, or as soon thereafter on that business day as the orders received in such period have been compiled, of the number of Shares of each class that the Distributor elects to purchase hereunder.of

Sale of Shares to Distributor. The Fund hereby grants to the Distributor the exclusive right, except as herein otherwise provided, to purchase Shares directly from the Fund upon the terms herein set forth. Such exclusive right hereby granted shall not apply to Shares issued or transferred or sold at net asset value: (a) in connection with the merger or consolidation of the Fund with any other investment company or the acquisition by the Fund of all or substantially all of the assets of or the outstanding Shares of any investment company; (b) in connection with a pro rata distribution directly to the holders of Fund Shares in the nature of a stock dividend or stock split or in connection with any other recapitalization approved by the Board of Trustees; (c) upon the exercise of purchase or subscription rights granted to the holders of Shares on a pro rata basis; (d) in connection with the automatic reinvestment of dividends and distributions from the Fund; or (e) in connection with the issue and sale of Shares to trustees, officers and employees of the Fund; , to directors, officers and employees of the investment adviser of the Fund or any principal underwriter (including the Distributor) of the Fund; , to retirees of the Distributor that purchased shares of any mutual fund distributed by the Distributor prior to retirement; , to directors, officers and employees of Van Xxxxxx Xxxrican Capital, Inc. (formerly The Van Kampxx Xxxxxxx Xxxpanies, Inc.) (the parent company of the Distributor), VK/AC Holding, Inc. (formerly VKM Holdings, Inc.)(the the parent company of The Van Kampxx Xxxxxxx XxxpaniesXxxxxx Xxxrican Capital, Inc.), Morgxx Xxxnxxx, Xxan Xxxxxx, Xxscover & Co. (the parent company of VK/AC Holding, Inc.) and to the subsidiaries of VK/AC HoldingVan Xxxxxx Xxxrican Capital, Inc.; and (f) to any trust, pension, profit-sharing or other benefit plan for any of the aforesaid persons; and (g) to any group of persons as permitted by Rule 22d-1 under the Investment Company 1940 Act approved from time to time by the Board of 1940 (Trustees and set forth in the "1940 Act")then current Prospectus of the Fund. The Distributor shall have the right to buy from the Fund the Shares needed, but not more than the Shares needed (except for reasonable allowances for clerical errors, delays and errors of transmission and cancellation of orders) to fill unconditional orders for Shares received by the Distributor from dealers, agents and investors during each period when particular net asset values and public offering prices are in effect as provided in Section 3 hereof; and the price which the Distributor shall pay for the Shares so purchased shall be the respective net asset value used in determining the public offering price on which such orders were based. The Distributor shall notify the Fund at the end of each such period, or as soon thereafter on that business day as the orders received in such period have been compiled, of the number of Shares of each class that the Distributor elects to purchase hereunder.

Sale of Shares to Distributor. The Fund hereby grants to the Distributor the exclusive right, except as herein otherwise provided, to purchase Shares directly from the Fund upon the terms herein set forth. Such exclusive right hereby granted shall not apply to Shares issued or transferred or sold at net asset value: (a) in connection with the merger or consolidation of the Fund with any other investment company or the acquisition by the Fund of all or substantially all of the assets of or the outstanding Shares of any investment company; (b) in connection with a pro rata distribution directly to the holders of Fund Shares in the nature of a stock dividend or stock split or in connection with any other recapitalization approved by the Board of Trustees; (c) upon the exercise of purchase or subscription rights granted to the holders of Shares on a pro rata basis; (d) in connection with the automatic reinvestment of dividends and distributions from the Fund; or (e) in connection with the issue and sale of Shares to trustees, officers and employees of the Fund; to directors, officers and employees of the investment adviser of the Fund or any principal underwriter (including the Distributor) of the Fund; to retirees of the Distributor that purchased shares of any mutual fund distributed by the Distributor prior to retirement; to directors, officers and employees of Van Xxxxxx Xxxrican Capital, Xxxestments Inc. (formerly The Van Kampxx Xxxxxxx XxxpaniesXxxxxx Xxxrican Capital, Inc.) (the parent of the Distributor), VK/AC Holding, Inc. (formerly VKM Holdings, Inc.)(the parent of The Van Kampxx Xxxxxxx Xxxpanies, Inc.) and to the subsidiaries of VK/AC Holding, Van Xxxxxx Xxxestments Inc.; and to any trust, pension, profit-sharing or other benefit plan for any of the aforesaid persons as permitted by Rule 22d-1 under the Investment Company Act of 1940 (the "1940 Act"). The Distributor shall have the right to buy from the Fund the Shares needed, but not more than the Shares needed (except for reasonable allowances for clerical errors, delays and errors of transmission and cancellation of orders) to fill unconditional orders for Shares received by the Distributor from dealers, agents and investors during each period when particular net asset values and public offering prices are in effect as provided in Section 3 hereof; and the price which the Distributor shall pay for the Shares so purchased shall be the respective net asset value used in determining the public offering price on which such orders were based. The Distributor shall notify the Fund at the end of each such period, or as soon thereafter on that business day as the orders received in such period have been compiled, of the number of Shares of each class that the Distributor elects to purchase hereunder.

Sale of Shares to Distributor. The Fund hereby grants to the Distributor the exclusive right, except as herein otherwise provided, to purchase Shares directly from the Fund upon the terms herein set forth. Such exclusive right hereby granted shall not apply to Shares issued or transferred or sold at net asset value: (a) in connection with the merger or consolidation of the Fund with any other investment company or the acquisition by the Fund of all or substantially all of the assets of or the outstanding Shares of any investment company; (b) in connection with a pro rata distribution directly to the holders of Fund Shares in the nature of a stock dividend or stock split or in connection with any other recapitalization approved by the Board of Trustees; (c) upon the exercise of purchase or subscription rights granted to the holders of Shares on a pro rata basis; (d) in connection with the automatic reinvestment of dividends and distributions from the Fund; or (e) in connection with the issue and sale of Shares to trustees, officers and employees of the Fund; to directors, officers and employees of the investment adviser of the Fund or any principal underwriter (including the Distributor) of the Fund; to retirees of the Distributor that purchased shares of any mutual fund distributed by the Distributor prior to retirement; to directors, officers and employees of Van Xxx Xxxxxx Xxxrican Capital, Investments Inc. (formerly The Van Kampxx Xxxxxxx XxxpaniesXxx Xxxxxx American Capital, Inc.) (the parent of the Distributor), VK/AC Holding, Inc. (formerly VKM Holdings, Inc.)(the parent of The Van Kampxx Xxxxxxx Xxxpanies, Inc.) and to the subsidiaries of VK/AC Holding, Xxx Xxxxxx Investments Inc.; and to any trust, pension, profit-sharing or other benefit plan for any of the aforesaid persons as permitted by Rule 22d-1 under the Investment Company Act of 1940 1940, as amended (the "1940 Act"). The Distributor shall have the right to buy from the Fund the Shares needed, but not more than the Shares needed (except for reasonable allowances for clerical errors, delays and errors of transmission and cancellation of orders) to fill unconditional orders for Shares received by the Distributor from dealers, agents and investors during each period when particular net asset values and public offering prices are in effect as provided in Section 3 hereof; and the price which the Distributor shall pay for the Shares so purchased shall be the respective net asset value used in determining the public offering price on which such orders were based. The Distributor shall notify the Fund at the end of each such period, or as soon thereafter on that business day as the orders received in such period have been compiled, of the number of Shares of each class that the Distributor elects to purchase hereunder.

Sale of Shares to Distributor. The Fund hereby grants to the Distributor the exclusive right, except as herein otherwise provided, to purchase Shares directly from the Fund upon the terms herein set forth. Such exclusive right hereby granted shall not apply to Shares issued or transferred or sold at net asset value: (a) in connection with the merger or consolidation of the Fund with any other investment company or the acquisition by the Fund of all or substantially all of the assets of or the outstanding Shares of any investment company; (b) in connection with a pro rata distribution directly to the holders of Fund Shares in the nature of a stock dividend or stock split or in connection with any other recapitalization approved by the Board of Trustees; (c) upon the exercise of purchase or subscription rights granted to the holders of Shares on a pro rata basis; (d) in connection with the automatic reinvestment of dividends and distributions from the Fund; or (e) in connection with the issue and sale of Shares to trustees, officers and employees of the Fund; to directors, officers and employees of the investment adviser of the Fund or any principal underwriter (including the Distributor) of the Fund; to retirees of the Distributor that purchased shares of any mutual fund distributed by the Distributor prior to retirement; to directors, officers and employees of Van Xxxxxx Xxxrican Capital, Xxxestments Inc. (formerly The Van Kampxx Xxxxxxx XxxpaniesXxxxxx Xxxrican Capital, Inc.) (the parent of the Distributor), VK/AC Holding, Inc. (formerly VKM Holdings, Inc.)(the parent of The Van Kampxx Xxxxxxx Xxxpanies, Inc.) and to the subsidiaries of VK/AC Holding, Van Xxxxxx Xxxestments Inc.; and to any trust, pension, profit-sharing or other benefit plan for any of the aforesaid persons as permitted by Rule 22d-1 under the Investment Company Act of 1940 (the "1940 Act"). The Distributor shall have the right to buy from the Fund the Shares needed, but not more than the Shares needed (except for reasonable allowances for clerical errors, delays and errors of transmission and cancellation of orders) to fill unconditional orders for Shares received by the Distributor from dealers, agents and investors during each period when particular net asset values and public offering prices are in effect as provided in Section 3 hereof; and the price which the Distributor shall pay for the Shares so purchased shall be the respective net asset value used in determining the public offering price on which such orders were based. The Distributor shall notify the Fund at the end of each such period, or as soon thereafter on that business day as the orders received in such period have been compiled, of the number of Shares of each class that the Distributor elects to purchase hereunder.

Sale of Shares to Distributor. The Each Fund hereby grants to the Distributor the exclusive right, except as herein otherwise provided, to purchase Shares directly from the Fund upon the terms herein set forth. Such exclusive right hereby granted shall not apply to Shares issued or transferred or sold at net asset value: (a) in connection with the merger or consolidation of the Fund with any other investment company or the acquisition by the Fund of all or substantially all of the assets of or the outstanding Shares of any investment company; (b) in connection with a pro rata distribution directly to the holders of Fund Shares in the nature of a stock dividend or stock split or in connection with any other recapitalization approved by the Board of Trustees; (c) upon the exercise of purchase or subscription rights granted to the holders of Shares on a pro rata basis; (d) in connection with the automatic reinvestment of dividends and distributions from the Fund; or (e) in connection with the issue and sale of Shares to trusteesTrustees, officers and employees of the Fund; to directors, trustees, officers and employees of the investment adviser of the Fund or any principal underwriter (including the Distributor) of the Fund; to retirees of the Distributor that purchased shares of any mutual fund distributed by the Distributor prior to retirement; to directors, trustees, officers and employees of Van Xxxxxx Xxxrican Capital, Kampen Investments Inc. (formerly The Van Kampxx Xxxxxxx Xxxpanies, Inc.) (the parent of the Distributor), VK/AC Holding, Inc. (formerly VKM Holdings, Inc.)(the parent of The Van Kampxx Xxxxxxx Xxxpanies, Inc.) and to the subsidiaries xxx xxxxxxiaries of VK/AC Holding, Van Kampen Investments Inc.; and to any trust, pension, profit-sharing or other sharxxx xx xxxer benefit plan for any of the aforesaid persons or any other class of investors or transactions as permitted by Rule 22d-1 under the Investment Company 1940 Act of 1940 (the "1940 Act")and discussed in a Fund's registration statement and Prospectus. The Distributor shall have the right to buy from the each Fund the Shares needed, but not more than the Shares needed (except for reasonable allowances for clerical errors, delays and errors of transmission and cancellation of orders) to fill unconditional orders for Shares received by the Distributor from dealers, agents and investors during each period when particular net asset values and public offering prices are in effect as provided in Section 3 4 hereof; and the price which the Distributor shall pay for the Shares so purchased shall be the respective net asset value used in determining the public offering price on which such orders were based. The Distributor shall notify the Fund at the end of each such period, or as soon thereafter on that business day as the orders received in such period have been compiled, of the number of Shares of each class that the Distributor elects to purchase hereunder.

Sale of Shares to Distributor. The Fund hereby grants to the Distributor the exclusive right, except as herein otherwise provided, to purchase Shares directly from the Fund upon the terms herein set forth. Such exclusive right hereby granted shall not apply to Shares issued or transferred or sold at net asset value: (a) in connection with the merger or consolidation of the Fund with any other investment company or the acquisition by the Fund of all or substantially all of the assets of or the outstanding Shares of any investment company; (b) in connection with a pro rata distribution directly to the holders of Fund Shares in the nature of a stock dividend or stock split or in connection with any other recapitalization approved by the Board of Trustees; (c) upon the exercise of purchase or subscription rights granted to the holders of Shares on a pro rata basis; (d) in connection with the automatic reinvestment of dividends and distributions from the Fund; or (e) in connection with the issue and sale of Shares to trustees, officers and employees of the Fund; to directors, officers and employees of the investment adviser of the Fund or any principal underwriter (including the Distributor) of the Fund; to retirees of the Distributor that purchased shares of any mutual fund distributed by the Distributor prior to retirement; to directors, officers and employees of Van Xxxxxx Xxxrican Capital, Kampen Investments Inc. (formerly The Van Kampxx Xxxxxxx XxxpaniesKampen American Cxxxxxx, Inc.Xxc.) (the parent of the Distributor), VK/AC Holding, Inc. (formerly VKM Holdings, Inc.)(the parent of The Van Kampxx Xxxxxxx Xxxpanies, Inc.Distributxx) and to xxx xx the subsidiaries of VK/AC Holding, Van Kampen Investments Inc.; and to any trust, pension, profit-sharing or xxxxxxx xx other benefit plan for any of the aforesaid persons as permitted by Rule 22d-1 under the Investment Company Act of 1940 1940, as amended (the "1940 Act"). The Distributor shall have the right to buy from the Fund the Shares needed, but not more than the Shares needed (except for reasonable allowances for clerical errors, delays and errors of transmission and cancellation of orders) to fill unconditional orders for Shares received by the Distributor from dealers, agents and investors during each period when particular net asset values and public offering prices are in effect as provided in Section 3 hereof; and the price which the Distributor shall pay for the Shares so purchased shall be the respective net asset value used in determining the public offering price on which such orders were based. The Distributor shall notify the Fund at the end of each such period, or as soon thereafter on that business day as the orders received in such period have been compiled, of the number of Shares of each class that the Distributor elects to purchase hereunder.

Sale of Shares to Distributor. The Fund hereby grants to the Distributor the exclusive right, except as herein otherwise provided, to purchase Shares directly from the Fund upon the terms herein set forth. Such exclusive right hereby granted shall not apply to Shares issued or transferred or sold at net asset value: (a) in connection with the merger or consolidation of the Fund with any other investment company or the acquisition by the Fund of all or substantially all of the assets of or the outstanding Shares of any investment company; (b) in connection with a pro rata distribution directly to the holders of Fund 2 Shares in the nature of a stock dividend or stock split or in connection with any other recapitalization approved by the Board of Trustees; (c) upon the exercise of purchase or subscription rights granted to the holders of Shares on a pro rata basis; (d) in connection with the automatic reinvestment of dividends and distributions from the Fund; or (e) in connection with the issue and sale of Shares to trustees, officers and employees of the Fund; , to directors, officers and employees of the investment adviser of the Fund or any principal underwriter (including the Distributor) of the Fund; , to retirees of the Distributor that purchased shares of any mutual fund distributed by the Distributor prior to retirement; , to directors, officers and employees of Van Xxxxxx Xxxrican Capital, Inc. (formerly The Van Kampxx Xxxxxxx Xxxpanies, Inc.) (the parent company of the Distributor), VK/AC Holding, Inc. (formerly VKM Holdings, Inc.)(the the parent company of The Van Kampxx Xxxxxxx XxxpaniesXxxxxx Xxxrican Capital, Inc.), Morgxx Xxxnxxx, Xxan Xxxxxx, Xxscover & Co. (the parent company of VK/AC Holding, Inc.) and to the subsidiaries of VK/AC HoldingVan Xxxxxx Xxxrican Capital, Inc.; and (f) to any trust, pension, profit-sharing or other benefit plan for any of the aforesaid persons; and (g) to any group of persons as permitted by Rule 22d-1 under the Investment Company 1940 Act approved from time to time by the Board of 1940 (Trustees and set forth in the "1940 Act")then current Prospectus of the Fund. The Distributor shall have the right to buy from the Fund the Shares needed, but not more than the Shares needed (except for reasonable allowances for clerical errors, delays and errors of transmission and cancellation of orders) to fill unconditional orders for Shares received by the Distributor from dealers, agents and investors during each period when particular net asset values and public offering prices are in effect as provided in Section 3 hereof; and the price which the Distributor shall pay for the Shares so purchased shall be the respective net asset value used in determining the public offering price on which such orders were based. The Distributor shall notify the Fund at the end of each such period, or as soon thereafter on that business day as the orders received in such period have been compiled, of the number of Shares of each class that the Distributor elects to purchase hereunder.

Sale of Shares to Distributor. The Fund hereby grants to the Distributor the exclusive right, except as herein otherwise provided, to purchase Shares directly from the Fund upon the terms herein set forth. Such exclusive right hereby granted shall not apply to Shares issued or transferred or sold at net asset value: (a) in connection with the merger or consolidation of the Fund with any other investment company or the acquisition by the Fund of all or substantially all of the assets of or the outstanding Shares of any investment company; (b) in connection with a pro rata distribution directly to the holders of Fund Shares in the nature of a stock dividend or stock split or in connection with any other recapitalization approved by the Board of Trustees; (c) upon the exercise of purchase or subscription rights granted to the holders of Shares on a pro rata basis; (d) in connection with the automatic reinvestment of dividends and distributions from the Fund; or (e) in connection with the issue and sale of Shares to trustees, officers and employees of the Fund; to directors, officers and employees of the investment adviser of the Fund or any principal underwriter (including the Distributor) of the Fund; to retirees of the Distributor that purchased shares of any mutual fund distributed by the Distributor prior to retirement; to directors, officers and employees of Van Xxxxxx Xxxrican Capital, Kampen Investments Inc. (formerly The Van Kampxx Xxxxxxx XxxpaniesKampen American Caxxxxx, Inc.Xxx.) (the parent of the Distributor), VK/AC Holding, Inc. (formerly VKM Holdings, Inc.)(the parent of The Van Kampxx Xxxxxxx Xxxpanies, Inc.Distributox) and to xxx xx the subsidiaries of VK/AC Holding, Van Kampen Investments Inc.; and to any trust, pension, profit-sharing or sxxxxxx xx other benefit plan for any of the aforesaid persons as permitted by Rule 22d-1 under the Investment Company Act of 1940 1940, as amended (the "1940 Act"). The Distributor shall have the right to buy from the Fund the Shares needed, but not more than the Shares needed (except for reasonable allowances for clerical errors, delays and errors of transmission and cancellation of orders) to fill unconditional orders for Shares received by the Distributor from dealers, agents and investors during each period when particular net asset values and public offering prices are in effect as provided in Section 3 hereof; and the price which the Distributor shall pay for the Shares so purchased shall be the respective net asset value used in determining the public offering price on which such orders were based. The Distributor shall notify the Fund at the end of each such period, or as soon thereafter on that business day as the orders received in such period have been compiled, of the number of Shares of each class that the Distributor elects to purchase hereunder.

Sale of Shares to Distributor. The Fund hereby grants to the Distributor the exclusive right, except as herein otherwise provided, to purchase Shares directly from the Fund upon the terms herein set forth. Such exclusive right hereby granted shall not apply to Shares issued or transferred or sold at net asset value: (a) in connection with the merger or consolidation of the Fund with any other investment company or the acquisition by the Fund of all or substantially all of the assets of or the outstanding Shares of any investment company; (b) in connection with a pro rata distribution directly to the holders of Fund Shares in the nature of a stock dividend or stock split or in connection with any other recapitalization approved by the Board of Trustees; (c) upon the exercise of purchase or subscription rights granted to the holders of Shares on a pro rata basis; (d) in connection with the automatic reinvestment of dividends and distributions from the Fund; or (e) in connection with the issue and sale of Shares to trustees, officers and employees of the Fund; to directors, officers and employees of the investment adviser of the Fund or any principal underwriter (including the Distributor) of the Fund; to retirees of the Distributor that purchased shares of any mutual fund distributed by the Distributor prior to retirement; to directors, officers and employees of Van Xxxxxx Xxxrican Capital, Kampen Investments Inc. (formerly The Van Kampxx Xxxxxxx XxxpaniesKampen American Xxxxxxx, Inc.Xnc.) (the parent of the Distributor), VK/AC Holding, Inc. (formerly VKM Holdings, Inc.)(the parent of The Van Kampxx Xxxxxxx Xxxpanies, Inc.Distribuxxx) and to xxx xo the subsidiaries of VK/AC Holding, Van Kampen Investments Inc.; and to any trust, pension, profit-sharing or xxxxxxx xr other benefit plan for any of the aforesaid persons as permitted by Rule 22d-1 under the Investment Company Act of 1940 1940, as amended (the "1940 Act"). The Distributor shall have the right to buy from the Fund the Shares needed, but not more than the Shares needed (except for reasonable allowances for clerical errors, delays and errors of transmission and cancellation of orders) to fill unconditional orders for Shares received by the Distributor from dealers, agents and investors during each period when particular net asset values and public offering prices are in effect as provided in Section 3 hereof; and the price which the Distributor shall pay for the Shares so purchased shall be the respective net asset value used in determining the public offering price on which such orders were based. The Distributor shall notify the Fund at the end of each such period, or as soon thereafter on that business day as the orders received in such period have been compiled, of the number of Shares of each class that the Distributor elects to purchase hereunder.

Sale of Shares to Distributor. The Fund hereby grants to the Distributor the exclusive right, except as herein otherwise provided, to purchase Shares directly from the Fund upon the terms herein set forth. Such exclusive right hereby granted shall not apply to Shares issued or transferred or sold at net asset value: (a) in connection with the merger or consolidation of the Fund with any other investment company or the acquisition by the Fund of all or substantially all of the assets of or the outstanding Shares of any investment company; (b) in connection with a pro rata distribution directly to the holders of Fund Shares in the nature of a stock dividend or stock split or in connection with any other recapitalization approved by the Board of Trustees; (c) upon the exercise of purchase or subscription rights granted to the holders of Shares on a pro rata basis; (d) in connection with the automatic reinvestment of dividends and distributions from the Fund; or (e) in connection with the issue and sale of Shares to trustees, officers and employees of the Fund; to directors, officers and employees of the investment adviser of the Fund or any principal underwriter (including the Distributor) of the Fund; to retirees of the Distributor that purchased shares of any mutual fund distributed by the Distributor prior to retirement; to directors, officers and employees of Van Xxxxxx Xxxrican Capital, Kampen Investments Inc. (formerly The Van Kampxx Xxxxxxx XxxpaniesKampen American Xxxxxxx, Inc.) (the parent of the Distributor), VK/AC Holding, Inc. (formerly VKM Holdings, Inc.)(the parent of The Van Kampxx Xxxxxxx Xxxpanies, Inc.Distribxxxx) and xxx to the subsidiaries of VK/AC Holding, Van Kampen Investments Inc.; and to any trust, pension, profitprofix-sharing xxxxxxx or other benefit plan for any of the aforesaid persons as permitted by Rule 22d-1 under the Investment Company Act of 1940 1940, as amended (the "1940 Act"). The Distributor shall have the right to buy from the Fund the Shares needed, but not more than the Shares needed (except for reasonable allowances for clerical errors, delays and errors of transmission and cancellation of orders) to fill unconditional orders for Shares received by the Distributor from dealers, agents and investors during each period when particular net asset values and public offering prices are in effect as provided in Section 3 hereof; and the price which the Distributor shall pay for the Shares so purchased shall be the respective net asset value used in determining the public offering price on which such orders were based. The Distributor shall notify the Fund at the end of each such period, or as soon thereafter on that business day as the orders received in such period have been compiled, of the number of Shares of each class that the Distributor elects to purchase hereunder.

Sale of Shares to Distributor. The Each Fund hereby grants to the Distributor the exclusive right, except as herein otherwise provided, to purchase Shares directly from the Fund upon the terms herein set forth. Such exclusive right hereby granted shall not apply to Shares issued or transferred or sold at net asset value: (a) in connection with the merger or consolidation of the Fund with any other investment company or the acquisition by the Fund of all or substantially all of the assets of or the outstanding Shares of any investment company; (b) in connection with a pro rata distribution directly to the holders of Fund Shares in the nature of a stock dividend or stock split or in connection with any other recapitalization approved by the Board of Trustees; (c) upon the exercise of purchase or subscription rights granted to the holders of Shares on a pro rata basis; (d) in connection with the automatic reinvestment of dividends and distributions from the Fund; or (e) in connection with the issue and sale of Shares to trusteesTrustees, officers and employees of the Fund; to directors, trustees, officers and employees of the investment adviser of the Fund or any principal underwriter (including the Distributor) of the Fund; to retirees of the Distributor that purchased shares of any mutual fund distributed by the Distributor prior to retirement; to directors, trustees, officers and employees of Van Xxx Xxxxxx Xxxrican Capital, Investments Inc. (formerly The Van Kampxx Xxxxxxx Xxxpanies, Inc.) (the parent of the Distributor), VK/AC Holding, Inc. (formerly VKM Holdings, Inc.)(the parent of The Van Kampxx Xxxxxxx Xxxpanies, Inc.) and to the subsidiaries of VK/AC Holding, Xxx Xxxxxx Investments Inc.; and to any trust, pension, profit-sharing or other benefit plan for any of the aforesaid persons or any other class of investors or transactions as permitted by Rule 22d-1 under the Investment Company 1940 Act of 1940 (the "1940 Act")and discussed in a Fund’s registration statement and Prospectus. The Distributor shall have the right to buy from the each Fund the Shares needed, but not more than the Shares needed (except for reasonable allowances for clerical errors, delays and errors of transmission and cancellation of orders) to fill unconditional orders for Shares received by the Distributor from dealers, agents and investors during each period when particular net asset values and public offering prices are in effect as provided in Section 3 4 hereof; and the price which the Distributor shall pay for the Shares so purchased shall be the respective net asset value used in determining the public offering price on which such orders were based. The Distributor shall notify the Fund at the end of each such period, or as soon thereafter on that business day as the orders received in such period have been compiled, of the number of Shares of each class that the Distributor elects to purchase hereunder.

Sale of Shares to Distributor. The Each Fund hereby grants to the Distributor the exclusive right, except as herein otherwise provided, to purchase Shares directly from the Fund upon the terms herein set forth. Such exclusive right hereby granted shall not apply to Shares issued or transferred or sold at net asset value: (a) in connection with the merger or consolidation of the Fund with any other investment company or the acquisition by the Fund of all or substantially all of the assets of or the outstanding Shares of any investment company; (b) in connection with a pro rata distribution directly to the holders of Fund Shares in the nature of a stock dividend or stock split or in connection with any other recapitalization approved by the Board of Trustees; (c) upon the exercise of purchase or subscription rights granted to the holders of Shares on a pro rata basis; (d) in connection with the automatic reinvestment of dividends and distributions from the Fund; or (e) in connection with the issue and sale of Shares to trusteesTrustees, officers and employees of the Fund; to directors, trustees, officers and employees of the investment adviser of the Fund or any principal underwriter (including the Distributor) of the Fund; to retirees of the Distributor that purchased shares of any mutual fund distributed by the Distributor prior to retirement; to directors, trustees, officers and employees of Van Xxxxxx Xxxrican Capital, Kampen Investments Inc. (formerly The Van Kampxx Xxxxxxx Xxxpanies, Inc.) (the parent of the Distributor), VK/AC Holding, Inc. (formerly VKM Holdings, Inc.)(the parent of The Van Kampxx Xxxxxxx Xxxpanies, Inc.) and to the axx xx xxx subsidiaries of VK/AC Holding, Van Kampen Investments Inc.; and to any trust, pension, profitprofix-sharing xxxxxxx or other benefit plan for any of the aforesaid persons or any other class of investors or transactions as permitted by Rule 22d-1 under the Investment Company 1940 Act of 1940 (the "1940 Act")and discussed in a Fund's registration statement and Prospectus. The Distributor shall have the right to buy from the each Fund the Shares needed, but not more than the Shares needed (except for reasonable allowances for clerical errors, delays and errors of transmission and cancellation of orders) to fill unconditional orders for Shares received by the Distributor from dealers, agents and investors during each period when particular net asset values and public offering prices are in effect as provided in Section 3 4 hereof; and the price which the Distributor shall pay for the Shares so purchased shall be the respective net asset value used in determining the public offering price on which such orders were based. The Distributor shall notify the Fund at the end of each such period, or as soon thereafter on that business day as the orders received in such period have been compiled, of the number of Shares of each class that the Distributor elects to purchase hereunder.

Sale of Shares to Distributor. The Fund hereby grants to the Distributor the exclusive right, except as herein otherwise provided, to purchase Shares directly from the Fund upon the terms herein set forth. Such exclusive right hereby granted shall not apply to Shares issued or transferred or sold at net asset value: (a) in connection with the merger or consolidation of the Fund with any other investment company or the acquisition by the Fund of all or substantially all of the assets of or the outstanding Shares of any investment company; (b) in connection with a pro rata distribution directly to the holders of Fund Shares in the nature of a stock dividend or stock split or in connection with any other recapitalization approved by the Board of Trustees; (c) upon the exercise of purchase or subscription rights granted to the holders of Shares on a pro rata basis; (d) in connection with the automatic reinvestment of dividends and distributions from the Fund; or (e) in connection with the issue and sale of Shares to trustees, officers and employees of the Fund; to directors, officers and employees of the investment adviser of the Fund or any principal underwriter (including the Distributor) of the Fund; to retirees of the Distributor that purchased shares of any mutual fund distributed by the Distributor prior to retirement; to directors, officers and employees of Van Xxxxxx Xxxrican Capital, Inc. (formerly The Van Kampxx Xxxxxxx Xxxpanies, Inc.) (the parent of the Distributor), VK/AC Holding, Inc. (formerly VKM Holdings, Inc.)(the the parent of The Van Kampxx Xxxxxxx XxxpaniesXxxxxx Xxxrican Capital, Inc.), Morgxx Xxxnxxx, Xean Xxxxxx, Xxscover & Co. (the parent company of VK/AC Holding, Inc.) and to the subsidiaries of VK/AC HoldingVan Xxxxxx Xxxrican Capital, Inc.; and (f) to any trust, pension, profit-sharing or other benefit plan for any of the aforesaid persons; and (g) to any group of persons as permitted by Rule 22d-1 under the Investment Company 1940 Act approved from time to time by the Board of 1940 (Trustees and set forth in the "1940 Act")then current Prospectus of the Fund. The Distributor shall have the right to buy from the Fund the Shares needed, but not more than the Shares needed (except for reasonable allowances for clerical errors, delays and errors of transmission and cancellation of orders) to fill unconditional orders for Shares received by the Distributor from dealers, agents and investors during each period when particular net asset values and public offering prices are in effect as provided in Section 3 hereof; and the price which the Distributor shall pay for the Shares so purchased shall be the respective net asset value used in determining the public offering price on which such orders were based. The Distributor shall notify the Fund at the end of each such period, or as soon thereafter on that business day as the orders received in such period have been compiled, of the number of Shares of each class that the Distributor elects to purchase hereunder.

Sale of Shares to Distributor. The Each Fund hereby grants to the Distributor the exclusive right, except as herein otherwise provided, to purchase Shares directly from the Fund upon the terms herein set forth. Such exclusive right hereby granted shall not apply to Shares issued or transferred or sold at net asset value: (a) in connection with the merger or consolidation of the Fund with any other investment company or the acquisition by the Fund of all or substantially all of the assets of or the outstanding Shares of any investment company; (b) in connection with a pro rata distribution directly to the holders of Fund Shares in the nature of a stock dividend or stock split or in connection with any other recapitalization approved by the Board of Trustees; (c) upon the exercise of purchase or subscription rights granted to the holders of Shares on a pro rata basis; (d) in connection with the automatic reinvestment of dividends and distributions from the Fund; or (e) in connection with the issue and sale of Shares to trusteesTrustees, officers and employees of the Fund; to directors, trustees, officers and employees of the investment adviser of the Fund or any principal underwriter (including the Distributor) of the Fund; to retirees of the Distributor that purchased shares of any mutual fund distributed by the Distributor prior to retirement; to directors, trustees, officers and employees of Van Xxx Xxxxxx Xxxrican Capital, Investments Inc. (formerly The Van Kampxx Xxxxxxx Xxxpanies, Inc.) (the parent of the Distributor), VK/AC Holding, Inc. (formerly VKM Holdings, Inc.)(the parent of The Van Kampxx Xxxxxxx Xxxpanies, Inc.) and to the subsidiaries of VK/AC Holding, Xxx Xxxxxx Investments Inc.; and to any trust, pension, profit-sharing or other benefit plan for any of the aforesaid persons or any other class of investors or transactions as permitted by Rule 22d-1 under the Investment Company 1940 Act of 1940 (the "1940 Act")and discussed in a Fund's registration statement and Prospectus. The Distributor shall have the right to buy from the each Fund the Shares needed, but not more than the Shares needed (except for reasonable allowances for clerical errors, delays and errors of transmission and cancellation of orders) to fill unconditional orders for Shares received by the Distributor from dealers, agents and investors during each period when particular net asset values and public offering prices are in effect as provided in Section 3 4 hereof; and the price which the Distributor shall pay for the Shares so purchased shall be the respective net asset value used in determining the public offering price on which such orders were based. The Distributor shall notify the Fund at the end of each such period, or as soon thereafter on that business day as the orders received in such period have been compiled, of the number of Shares of each class that the Distributor elects to purchase hereunder.

Sale of Shares to Distributor. The Fund hereby grants to the Distributor the exclusive right, except as herein otherwise provided, to purchase Shares directly from the Fund upon the terms herein set forth. Such exclusive right hereby granted shall not apply to Shares issued or transferred or sold at net asset value: (a) in connection with the merger or consolidation of the Fund with any other investment company or the acquisition by the Fund of all or substantially all of the assets of or the outstanding Shares of any investment company; (b) in connection with a pro rata distribution directly to the holders of Fund Shares in the nature of a stock dividend or stock split or in connection with any other recapitalization approved by the Board of Trustees; (c) upon the exercise of purchase or subscription rights granted to the holders of Shares on a pro rata basis; (d) in connection with the automatic reinvestment of dividends and distributions from the Fund; or (e) in connection with the issue and sale of Shares to trustees, officers and employees of the Fund; to directors, officers and employees of the investment adviser of the Fund or any principal underwriter (including the Distributor) of the Fund; to retirees of the Distributor that purchased shares of any mutual fund distributed by the Distributor prior to retirement; to directors, officers and employees of Van Xxxxxx Xxxrican Capital, Kampen Investments Inc. (formerly The Van Kampxx Xxxxxxx XxxpaniesKampen American Capitxx, Inc.Xxx.) (the parent of the Distributor), VK/AC Holding, Inc. (formerly VKM Holdings, Inc.)(the parent of The Van Kampxx Xxxxxxx Xxxpanies, Inc.) and to the xxx xx xxx subsidiaries of VK/AC Holding, Van Kampen Investments Inc.; and to any trust, pension, profit-sharing or other sharxxx xx xxxer benefit plan for any of the aforesaid persons as permitted by Rule 22d-1 under the Investment Company Act of 1940 1940, as amended (the "1940 Act"). The Distributor shall have the right to buy from the Fund the Shares needed, but not more than the Shares needed (except for reasonable allowances for clerical errors, delays and errors of transmission and cancellation of orders) to fill unconditional orders for Shares received by the Distributor from dealers, agents and investors during each period when particular net asset values and public offering prices are in effect as provided in Section 3 hereof; and the price which the Distributor shall pay for the Shares so purchased shall be the respective net asset value used in determining the public offering price on which such orders were based. The Distributor shall notify the Fund at the end of each such period, or as soon thereafter on that business day as the orders received in such period have been compiled, of the number of Shares of each class that the Distributor elects to purchase hereunder.

Sale of Shares to Distributor. The Fund hereby grants to the Distributor the exclusive right, except as herein otherwise provided, to purchase Shares directly from the Fund upon the terms herein set forth. Such exclusive right hereby granted shall not apply to Shares issued or transferred or sold at net asset value: (a) in connection with the merger or consolidation of the Fund with any other investment company or the acquisition by the Fund of all or substantially all of the assets of or the outstanding Shares of any investment company; (b) in connection with a pro rata distribution directly to the holders of Fund Shares in the nature of a stock dividend or stock split or in connection with any other recapitalization approved by the Board of Trustees; (c) upon the exercise of purchase or subscription rights granted to the holders of Shares on a pro rata basis; (d) in connection with the automatic reinvestment of dividends and distributions from the Fund; or (e) in connection with the issue and sale of Shares to trustees, officers and employees of the Fund; to directors, officers and employees of the investment adviser of the Fund or any principal underwriter (including the Distributor) of the Fund; to retirees of the Distributor that purchased shares of any mutual fund distributed by the Distributor prior to retirement; to directors, officers and employees of Van Xxxxxx Xxxrican Capital, Inc. (formerly The Van Kampxx Xxxxxxx Xxxpanies, Inc.) (the parent of the Distributor), VK/AC Holding, Inc. (formerly VKM Holdings, Inc.)(the parent of The Van Kampxx Xxxxxxx Xxxpanies, Inc.) and to the subsidiaries of VK/AC Holding, Inc.; and to any trust, pension, profit-sharing or other benefit plan for any of the aforesaid persons as permitted by Rule 22d-1 under the Investment Company Act of 1940 (the "1940 Act"). The Distributor shall have the right to buy from the Fund the Shares needed, but not more than the Shares needed (except for reasonable allowances for clerical errors, delays and errors of transmission and cancellation of orders) to fill unconditional orders for Shares received by the Distributor from dealers, agents and investors during each period when particular net asset values and public offering prices are in effect as provided in Section 3 hereof; and the price which the Distributor shall pay for the Shares so purchased shall be the respective net asset value used in determining the public offering price on which such orders were based. The Distributor shall notify the Fund at the end of each such period, or as soon thereafter on that business day as the orders received in such period have been compiled, of the number of Shares of each class that the Distributor elects to purchase hereunder.Distributor

Sale of Shares to Distributor. The Fund hereby grants to the Distributor the exclusive right, except as herein otherwise provided, to purchase Shares directly from the Fund upon the terms herein set forth. Such exclusive right hereby granted shall not apply to Shares issued or transferred or sold at net asset value: (a) in connection with the merger or consolidation of the Fund with any other investment company or the acquisition by the Fund of all or substantially all of the assets of or the outstanding Shares of any investment company; (b) in connection with a pro rata distribution directly to the holders of Fund Shares in the nature of a stock dividend or stock split or in connection with any other recapitalization approved by the Board of Trustees; (c) upon the exercise of purchase or subscription rights granted to the holders of Shares on a pro rata basis; (d) in connection with the automatic reinvestment of dividends and distributions from the Fund; or (e) in connection with the issue and sale of Shares to trustees, officers and employees of the Fund; to directors, officers and employees of the investment adviser of the Fund or any principal underwriter (including the Distributor) of the Fund; to retirees of the Distributor that purchased shares of any mutual fund distributed by the Distributor prior to retirement; to directors, officers and employees of Van Xxxxxx Xxxrican Capital, Xxvestments Inc. (formerly The Van Kampxx Xxxxxxx XxxpaniesXxxxxx Xxerican Capital, Inc.) (the parent of the Distributor), VK/AC Holding, Inc. (formerly VKM Holdings, Inc.)(the parent of The Van Kampxx Xxxxxxx Xxxpanies, Inc.) and to the subsidiaries of VK/AC Holding, Van Xxxxxx Xxvestments Inc.; and to any trust, pension, profit-sharing or other benefit plan for any of the aforesaid persons as permitted by Rule 22d-1 under the Investment Company Act of 1940 (the "1940 Act"). The Distributor shall have the right to buy from the Fund the Shares needed, but not more than the Shares needed (except for reasonable allowances for clerical errors, delays and errors of transmission and cancellation of orders) to fill unconditional orders for Shares received by the Distributor from dealers, agents and investors during each period when particular net asset values and public offering prices are in effect as provided in Section 3 hereof; and the price which the Distributor shall pay for the Shares so purchased shall be the respective net asset value used in determining the public offering price on which such orders were based. The Distributor shall notify the Fund at the end of each such period, or as soon thereafter on that business day as the orders received in such period have been compiled, of the number of Shares of each class that the Distributor elects to purchase hereunder.