Common use of Portfolio Securities Clause in Contracts

Portfolio Securities. Portfolio securities of every series of the Fund may be bought or sold by or through the Distributor, and the Distributor may participate directly or indirectly in brokerage commissions or "spreads" for transactions in portfolio securities of any series of the Fund. However, all sums of money received by the Distributor as a result of such purchases and sales or as a result of such participation must, after reimbursement of actual expenses of the Distributor in connection with such activity, be paid over by the Distributor to or for the benefit of the applicable series.

Portfolio Securities. Portfolio securities of every series Series of the Fund Trust may be bought or sold by or through the Distributor, and the Distributor may participate directly or indirectly in brokerage commissions or "spreads" for transactions in portfolio securities of any series Series of the FundTrust. However, all sums of money received by the Distributor as a result of such purchases and sales or as a result of such participation must, after reimbursement of actual expenses of the Distributor in connection with such activity, be paid over by the Distributor to or for the benefit of the applicable seriesSeries.

Portfolio Securities. Portfolio securities of every series of the Fund Trust may be bought or sold by or through the Distributor, and the Distributor may participate directly or indirectly in brokerage commissions or "spreads" for transactions in portfolio securities of any series of the FundTrust. However, all sums of money received by the Distributor as a result of such purchases and sales or as a result of such participation must, after reimbursement of actual expenses of the Distributor in connection with such activity, be paid over by the Distributor to or for the benefit of the applicable series.