Common use of Transmission of Instructions Clause in Contracts

Transmission of Instructions. For purposes of this Section 1.1, Company shall be the designee of the Fund for receipt of purchase orders and redemption requests based on instructions from each Account (collectively, “Instructions”) and receipt by such designee shall constitute receipt by the Fund; provided that Company receives the Instructions in proper form from an Account no later than the close of regular trading on the New York Stock Exchange (“NYSE”) (ordinarily by 1:00 p.m. PT). For each Fund and for each Account maintained by the Company with such Fund, prior to 8:30 a.m. Eastern Time on each Business Day, the Company shall transmit to the Fund, its transfer agent or as otherwise directed by the Fund or the Adviser a single aggregate purchase or redemption order that reflects the “net” effect of all purchase or redemptions of Shares based upon Instructions received prior to close of regular trading on the NYSE on the preceding Business Day.

Transmission of Instructions. For purposes of this Section 1.1, Company shall be the designee of the Fund for receipt of purchase orders and redemption requests based on instructions from each Account (collectively, “Instructions”) and receipt by such designee shall constitute receipt by the Fund; provided that Company receives the Instructions in proper form from an Account no later than the close of regular trading on the New York Stock Exchange (“NYSE”) (ordinarily by 1:00 p.m. PT). For each Fund and for each Account maintained by the Company with such Fund, prior to 8:30 a.m. Eastern Time on each Business Day, the Company shall transmit to the Fund, its transfer agent or as otherwise directed by the Fund or the Adviser a single aggregate purchase or redemption order that reflects the “"net” " effect of all purchase or redemptions of Shares based upon Instructions received prior to close of regular trading on the NYSE on the preceding Business Day.