Common use of EFFECTIVE DATE, DURATION AND TERMINATION OF AGREEMENT Clause in Contracts

EFFECTIVE DATE, DURATION AND TERMINATION OF AGREEMENT. The effective date of the Agreement shall be March 1, 1995. Wherever referred to in this Agreement, the vote or approval of the holders of a majority of the outstanding voting securities of the Fund shall mean the vote of 67% or more of such securities if the holders of more than 50% of such securities are present in person or by proxy or the vote of more than 50% of such securities, whichever is the lesser. Unless sooner terminated as hereinafter provided, this Agreement shall continue in effect until the next annual meeting of the Fund's shareholders and from year to year thereafter, but only so long as such continuance is specifically approved at least annually by the Board of Directors of the Fund, including the specific approval of a majority of the directors who are not interested persons of Management, the Underwriter, or the Fund, cast in person at a meeting called for the purpose of voting on such approval, or by the vote of the holders of a majority of the outstanding voting securities of the Fund. This Agreement may be terminated at any time without the payment of any penalty by the vote of the Board of Directors of the Fund or by the vote of the holders of a majority of the outstanding voting securities of the Fund, or by Management, upon 60 days' written notice to the other party. This Agreement shall automatically terminate in the event of its assignment as such term is defined by the Investment Company Act of 1940, as amended.

EFFECTIVE DATE, DURATION AND TERMINATION OF AGREEMENT. The effective date of the this Agreement shall be March 1February 25, 19951987. Wherever referred to in this Agreement, the vote or approval of the holders of a majority of the outstanding voting securities of the Fund shall mean the vote of 67% or more of such securities if the holders of more than 50% of such securities are present in person or by proxy or the vote of more than 50% of such securities, whichever is the lesser. Unless sooner terminated as hereinafter provided, this Agreement shall continue in effect until the next annual meeting of the Fund's shareholders and from year to year thereafter, but only so long as such continuance is specifically approved at least annually by the Board of Directors of the Fund, including the specific approval of a majority of the directors who are not interested persons of Managementthe Underwriter or Management as defined by the provisions of the Investment Company Act of 1940, the Underwriter, or the Fundas amended, cast in person at a meeting called for the purpose of voting on such approval, or by the vote of the holders of a majority of the outstanding voting securities of the Fund. This Agreement may be terminated at any time without the payment of any penalty by the vote of the Board of Directors of the Fund or by the vote of the holders of a majority of the outstanding voting securities of the Fund, or by Managementthe Underwriter, upon 60 days' written notice to the other party. This Agreement shall automatically terminate in the event of its assignment (as such term is defined by the provisions of the Investment Company Act of 1940, as amended).