Common use of INITIAL SHARE Clause in Contracts

INITIAL SHARE. Prior to the Closing, the Acquiring Fund will issue one share of each of the Investor Class and Class L of the Acquiring Fund (the “Initial Shares”) to ALPS Fund Services, Inc. (the “Sole Shareholder”) in exchange for Ten Dollars ($10.00) per share for the sole purpose of allowing the Sole Shareholder to approve certain organizational items on behalf of the Acquiring Fund. The Initial Shares shall be redeemed and cancelled by the Acquiring Fund in exchange for Ten Dollars ($10.00) per share immediately prior to the Closing.

INITIAL SHARE. Prior to the Closing, the Acquiring Fund will issue one share of each of the Investor Class and Class L beneficial interest of the Acquiring Fund (the “Initial SharesShare”) to ALPS Fund Services, Inc. Services (the “Sole Shareholder”) in exchange for Ten Dollars ($10.00) per share 10.00 for the sole purpose of allowing the Sole Shareholder to approve certain organizational items on behalf of the Acquiring Fund. The Initial Shares Share shall be redeemed and cancelled by the Acquiring Fund in exchange for Ten Dollars ($10.00) per share 10.00 immediately prior to the Closing.