Common use of THIRTEENTH Clause in Contracts

THIRTEENTH. (A) The Fund and Distributor shall each comply with all applicable provisions of the Investment Company Act of 1940, the Securities Act of 1933, and the rules and regulations of the National Association of Securities Dealers, Inc. and of all other Federal and State laws, rules and regulations governing the issuance and sale of shares of the Fund. (B) In the absence of willful misfeasance, bad faith, gross negligence or reckless disregard of obligations or duties hereunder on the part of the Distributor, the Fund agrees to indemnify the Distributor and any controlling person of the Distributor against any and all claims, demands, liabilities and expenses including reasonable costs of any alleged litigation which the Distributor may incur under the Securities Act of 1933, or common law on otherwise, arising out of or based upon any alleged untrue statement of a material fact contained in any registration statement, statement of additional information or prospectus of the Fund, or any omission to state a material fact therein, the omission of which makes any statement contained therein misleading, unless such statement or omission was made in reliance upon, and in conformity with written information furnished to the Fund in connection with written information furnished to the Fund in connection therewith by or on behalf of the Distributor. The Distributor agrees to indemnify the Fund against any and all claims, demands, liabilities and expenses which the Fund may incur arising out of or based upon any act or deed of sales representatives of the Distributor which is outside the scope of their authority under this Agreement. (C) The Distributor agrees to indemnify the Fund against any and all claims, demands, liabilities and expenses which the Fund may incur under the Securities Act of 1933, or common law or otherwise, arising out of or based upon any alleged untrue statement of material fact contained in any registration statement, statement of additional information or prospectus of the Fund, relating to the Fund, or any omission to state a material fact therein if such statement or omission was made in reliance upon, and in conformity with, written information furnished to the Fund in connection therewith by or on behalf of the Distributor.