Common use of Transactions in Shares Clause in Contracts

Transactions in Shares. (a) The Funds will execute all accepted orders for the purchase of shares of the Funds (“Shares”) at the next determined public offering price per Share (i.e., the net asset value per Share plus the applicable initial sales load, if any) and the Funds will execute all accepted orders for the redemption of any Shares at the next determined net asset value per Share, in each case as described in the Funds’ then current prospectus and statement of additional information (“Prospectus”). The Funds reserve the right to reject any purchase request in their sole discretion.