Common use of Exchange Shares Clause in Contracts

Exchange Shares. There shall be allocated to the Distributor and each Other Distributor, as the case may be, all Commission Shares of the Company which were issued during or after the period referred to in (a) as a consequence of one or more free exchanges of Commission Shares of the Company or of another portfolio (other than Free Appreciation Shares) (the "Exchange Shares"), which in accordance with the transfer records maintained for the Company can be traced to Commission Shares of the Company or another portfolio initially issued by the Company or such other portfolio during the time the Distributor or such Other Distributor, as the case may be, was the exclusive distributor for the Shares of the Company or such other portfolio.

Exchange Shares. There shall be allocated to the Distributor and each Other Distributor, as the case may be, all Commission Shares of the Company such Portfolio which were issued during or after the period referred to in (a) as a consequence of one or more free exchanges of Commission Shares of the Company Portfolio or of another portfolio (other than Free Appreciation SharesShares as hereinafter defined) (the "Exchange Shares"), which in accordance with the transfer records maintained for the Company such Portfolio can be traced to Commission Shares of the Company Portfolio or another portfolio initially issued by the Company or such other portfolio during the time the Distributor or such Other Distributor, as the case may be, was the exclusive distributor for the Shares of the Company Portfolio or such other portfolio.