Common use of OBLIGATIONS OF THE FUND COMPANY Clause in Contracts

OBLIGATIONS OF THE FUND COMPANY. 1. Transactions Subject to Fund/SERV. On each business day that the New York Stock Exchange is open for business on which the Funds determine their per share net asset values ("Business Day"), the Fund Company or its designee shall accept, and effect changes in its records upon receipt of purchase, redemption, exchanges, and registration instructions from the Trust Entity electronically through Fund/SERV ("Instructions") without supporting documentation from the Client-shareholder. On each Business Day, the Fund Company or its designee shall accept for processing any Instructions from the Trust Entity and shall process such Instructions in a timely manner.

OBLIGATIONS OF THE FUND COMPANY. 1. Transactions Subject to Fund/SERV. On each business day that the New York ---------------------------------- Stock Exchange is open for business on which the Funds determine their per share net asset values ("Business Day"), the Fund Company or its designee shall accept, and effect changes in its records upon receipt of purchase, redemption, exchanges, and registration instructions from the Trust Entity electronically through Fund/SERV ("Instructions") without supporting documentation from the Client-shareholder. On each Business Day, the Fund Company or its designee shall accept for processing any Instructions from the Trust Entity and shall process such Instructions in a timely manner.