Sales to Dealers. The Underwriter shall have the right to sell the Shares to dealers, as needed (making reasonable allowance for clerical errors and errors of transmission), but not more than the Shares needed to fill unconditional orders for Shares placed with the Underwriter by dealers. In every case the Fund shall receive the net asset value for the Shares sold, determined as provided in Paragraph 4 hereof. The Underwriter shall notify the Fund at the close of each business day of the number of Shares sold during each day.
Appears in 18 contracts
Samples: Underwriting Agreement (First Investors Tax Exempt Funds), Underwriting Agreement (First Investors Equity Funds), Underwriting Agreement (First Investors Income Funds)
