Common use of Sales and Redemptions Clause in Contracts

Sales and Redemptions. (a) The Funds shall pay all costs and expenses in connection with the registration of the Shares under the 1933 Act, and all expenses in connection with maintaining facilities for the issue and transfer of the Shares and for supplying information, prices and other data to be furnished by the Funds hereunder, and all expenses in connection with preparing, printing and distributing the Prospectuses except as set forth in subsection 2(c) of Section II hereof. (b) The Funds shall execute all documents, furnish all information and otherwise take all actions which may be reasonably necessary in the discretion of the Funds’ officers in connection with the qualification of the Shares for sale in such states as Distributor may designate to the Funds and the Funds may approve, and the Fund shall pay all filing fees which may be incurred in connection with such qualification. Distributor shall pay all other expenses incurred by Distributor in connection with the sale of the Shares, except as otherwise specifically provided in this Agreement. (c) The Funds shall have the right to suspend the sale of Shares at any time in response to conditions in the securities markets or otherwise, and to suspend the redemption of Shares of any Fund at any time permitted by the 1940 Act or the rules of the SEC ("Rules"). (d) the case of any purchase or redemption order received by Distributor on any business day prior to the time the net asset values of Shares are determined (the “cut off time,” ordinarily the close of regular trading on the New York Stock Exchange at 4:00 p.m. Eastern time), the order shall be accorded a trade date on the Funds’ accounting system that is the date of receipt of the order by Distributor. In the case of any such purchase or redemption order is received by Distributor on any business day after the cut off time, the order shall be accorded a trade date on the Funds’ accounting system that is the next business day that the New York Stock Exchange is open for trading. The Funds use the close of regular trading on the New York Stock Exchange ordinarily 4:00 p.m. eastern time as order cut off time. (e) Distributor certifies that it has established and will maintain policies and procedures reasonably designed to ensure that transactions in Funds’ shares are effected in accordance with applicable contract provisions and law, including, but not limited to, procedures designed to prevent same-day execution of orders received after the cut off time. (f) The Funds reserve the right to reject any order for Shares but will not do so arbitrarily or without reasonable cause.

Sales and Redemptions. (a) The Funds shall pay all costs and expenses in connection with the registration of the Shares under the 1933 Act, and all expenses in connection with maintaining facilities for the issue and transfer of the Shares and for supplying information, prices and other data to be furnished by the Funds hereunder, and all expenses in connection with preparing, printing and distributing the Prospectuses except as set forth in subsection 2(c) of Section II hereof. (b) The Funds shall execute all documents, furnish all information and otherwise take all actions which may be reasonably necessary in the discretion of the Funds’ ' officers in connection with the qualification of the Shares for sale in such states as Distributor may designate to the Funds and the Funds may approve, and the Fund shall pay all filing fees which may be incurred in connection with such qualification. Distributor shall pay all other expenses incurred by Distributor in connection with the sale of the Shares, except as otherwise specifically provided in this Agreement. (c) The Funds shall have the right to suspend the sale of Shares at any time in response to conditions in the securities markets or otherwise, and to suspend the redemption of Shares of any Fund at any time permitted by the 1940 Act or the rules of the SEC ("Rules"). (d) the case of any purchase or redemption order received by Distributor on any business day prior to the time the net asset values of Shares are determined (the “"cut off time,” " ordinarily the close of regular trading on the New York Stock Exchange at 4:00 p.m. Eastern time), the order shall be accorded a trade date on the Funds’ ' accounting system that is the date of receipt of the order by Distributor. In the case of any such purchase or redemption order is received by Distributor on any business day after the cut off time, the order shall be accorded a trade date on the Funds’ ' accounting system that is the next business day that the New York Stock Exchange is open for trading. The Funds use the close of regular trading on the New York Stock Exchange ordinarily 4:00 p.m. eastern time as order cut off time. (e) Distributor certifies that it has established and will maintain policies and procedures reasonably designed to ensure that transactions in Funds’ ' shares are effected in accordance with applicable contract provisions and law, including, but not limited to, procedures designed to prevent same-day execution of orders received after the cut off time. (f) The Funds reserve the right to reject any order for Shares but will not do so arbitrarily or without reasonable cause.

Sales and Redemptions. (a) The Funds shall pay all costs and expenses in connection with the registration of the ofthe Shares under the 1933 Act, and all expenses in connection with maintaining facilities for facilitiesfor the issue and transfer of the Shares and for supplying information, prices and other data to datato be furnished by the Funds hereunder, and all expenses in connection with preparing, ,printing and distributing the Prospectuses except as set forth in subsection 2(c) of Section II SectionII hereof. (b) The Funds shall execute all documents, furnish all information and otherwise take all takeall actions which may be reasonably necessary in the discretion of the Funds’ ' officers in connection inconnection with the qualification of the Shares for sale in such states as Distributor may designate maydesignate to the Funds and the Funds may approve, and the Fund shall pay all filing fees which feeswhich may be incurred in connection with such qualification. Distributor shall pay all other allother expenses incurred by Distributor in connection with the sale of the Shares, except as otherwise asotherwise specifically provided in this Agreement. (c) The Funds shall have the right to suspend the sale of Shares at any time in response to responseto conditions in the securities markets or otherwise, and to suspend the redemption of Shares ofShares of any Fund at any time permitted by the 1940 Act or the rules of the SEC ("RulesSEC("Rules"). (d) the The case of any purchase or redemption order received by Distributor on any business anybusiness day prior to the time the net asset values of Shares are determined (the “cut off "cutoff time,” " ordinarily the close of regular trading on the New York Stock Exchange at 4:00 p.m. 4:00p.m. Eastern time), the order shall be accorded a trade date on the Funds’ accounting system ' accountingsystem that is the date of receipt of the order by Distributor. In the case of any such purchase suchpurchase or redemption order is received by Distributor on any business day d ay after the cut off cutoff time, the order shall be accorded a trade date on the Funds’ ' accounting system that is the isthe next business day that the New York Stock Exchange is open for trading. The Funds use the usethe close of regular trading on the New York Stock Exchange ordinarily 4:00 p.m. eastern time as timeas order cut off time. (e) Distributor certifies that it has established and will maintain policies and procedures reasonably proceduresreasonably designed to ensure that transactions in Funds’ ' shares are effected in accordance with accordancewith applicable contract provisions and law, including, but not limited to, procedures designed to designedto prevent same-day execution of orders received after the cut off time. (f) The Funds reserve the right to reject any order for Shares but will not do so arbitrarily or without orwithout reasonable cause.