Common use of Orders Received Prior to 4:00 p.m. Eastern Time Clause in Contracts

Orders Received Prior to 4:00 p.m. Eastern Time. Under normal circumstances, the close of trading on the New York Stock Exchange on each Business Day is 4:00 p.m. Eastern Time (the “Close of Trading”). Orders derived from Instructions received by Broker/Dealer prior to the Close of Trading on any Business Day (“Day 1”) shall be transmitted by Broker/Dealer via the NSCC Fund/SERV system for receipt by the Distributor by 5:00 a.m. Eastern Time on the next Business Day (“Day 2”) (such orders are referred to herein as “Day 1 Trades”). Day 1 Trades shall be effected at the net asset value of the applicable Fund’s Shares calculated as of the Close of Trading on Day 1; and