Common use of Shareholder Accounts Clause in Contracts

Shareholder Accounts. Upon receipt of any funds referred to in paragraph 5 hereof, CMISC will compute the number of shares purchased by the shareholder according to the net asset value of Fund shares next determined after such receipt; and (a) in the case of a new shareholder, open and maintain an open account for such shareholder in the name or names set forth in the subscription application form; and (b) send to the shareholder a confirmation indicating the amount of full and fractional shares purchased (in the case of fractional shares, rounded to three decimal places) and the price per share; all subject to any reasonable instructions which the Fund’s principal underwriter (the “Distributor”) or a Trust may give to CMISC with respect to rejection of orders for shares and in accordance with the Prospectus.

Shareholder Accounts. Upon receipt of any funds referred to in paragraph 5 hereof, CMISC will compute the number of shares purchased by the shareholder according to the net asset value of Fund shares next determined after such receipt; and (a) in the case of a new shareholder, open and maintain an open account for such shareholder in the name or names set forth in the subscription application form; and (b) send to the shareholder a confirmation indicating the amount of full and fractional shares purchased (in the case of fractional shares, rounded to three decimal places) and the price per share; all subject to any reasonable instructions which the Fund’s principal underwriter (the “Distributor”) or a the Trust may give to CMISC with respect to rejection of orders for shares and in accordance with the Prospectus.