Common use of Execution of Orders for Purchase and Redemption of Shares Clause in Contracts

Execution of Orders for Purchase and Redemption of Shares. (a) All orders for the purchase of any Shares shall be executed at the then-current public offering price per share (i.e., the net asset value per share plus the applicable initial sales load, if any) and all orders for the redemption of any Shares shall be executed at the net asset value per share, in each case as described in the prospectus of the Fund. Any applicable redemption fee or deferred sales charge will be deducted by the Fund prior to the transmission of the redemption proceeds to Financial Institution or its customer. FSC and the Funds reserve the right to reject any purchase request in their sole discretion . If required by law, each transaction shall be confirmed in writing on a fully disclosed basis and, if confirmed by FSC, a copy of each confirmation shall be sent simultaneously to Financial Institution if Financial Institution so requests. (b) The procedures relating to all orders will be subject to the terms of the prospectus of each Fund and FSC's written instructions to Financial Institution from time to time. (c) Payments for Shares shall be made as specified in the applicable Fund prospectus. If payment for any purchase order is not received in accordance with the terms of the applicable Fund prospectus, FSC reserves the right, without notice, to cancel the sale and to hold Financial Institution responsible for any loss sustained as a result thereof. 4.

Execution of Orders for Purchase and Redemption of Shares. (a) All orders for the purchase of any Shares shall be executed at the then-current public offering price per share (i.e., the net asset value per share plus the applicable initial sales load, if any) and all orders for the redemption of any Shares shall be executed at the net asset value per share, in each case as described in the prospectus of the Fund. Any applicable redemption fee or deferred sales charge will be deducted by the Fund prior to the transmission of the redemption proceeds to Financial Institution or its customer. FSC and the Funds reserve the right to reject any purchase request in their sole discretion . If required by law, each transaction shall be confirmed in writing on a fully disclosed basis and, if confirmed by FSC, a copy of each confirmation shall be sent simultaneously to Financial Institution if Financial Institution so requests. (b) The procedures relating to all orders will be subject to the terms of the prospectus of each Fund and FSC's written instructions to Financial Institution from time to time. (c) Payments for Shares shall be made as specified in the applicable Fund prospectus. If payment for any purchase order is not received in accordance with the terms of the applicable Fund prospectus, FSC reserves the right, without notice, to cancel the sale and to hold Financial Institution responsible for any loss sustained as a result thereof. 4.