Common use of Purchase of Shares from the Fund Clause in Contracts

Purchase of Shares from the Fund. (a) Prior to the continuous offering of the shares, com- mencing on a date agreed on by the Fund and the Distributor, it is contemplated that the Distributor will solicit subscriptions for shares during a subscription period which shall last for such period as may be agreed upon by the parties hereto. The sub- scriptions will be payable within five business days after the termination of the subscription period, at which time the Fund will commence operations. (b) After the Fund commences operations, the Fund will commence an offering of its shares and thereafter the Distributor shall have the right to buy from the Fund the shares needed, but not more than the shares needed (except for clerical errors in transmission) to fill unconditional orders for shares of the Fund placed with the Distributor by investors or securities dealers. The price which the Distributor shall pay for the shares so purchased from the Fund shall be the net asset value, determined as set forth in Section 3(d) hereof. (c) The shares are to be resold by the Distributor to investors at net asset value, as set forth in Section 3(d) here- of, or to securities dealers having agreements with the Distri-

Purchase of Shares from the Fund. (a) Prior to the continuous offering of the shares, com- mencing commencing on a date agreed on upon by the Fund and the Distributor, it is contemplated that the Distributor will solicit subscriptions for shares during a subscription period which shall last for such period as may be agreed upon by the parties hereto. The sub- scriptions subscriptions will be payable within five six business days after the termination of the subscription period, at which time the Fund will commence operations. (b) After the Fund commences operations, the Fund will commence an offering of its shares and thereafter the Distributor shall have the right to buy from the Fund the shares needed, but not more than the shares needed (except for clerical errors in transmission) to fill fall unconditional orders for shares of the Fund placed with the Distributor by investors or securities dealers. The price which the Distributor shall pay for the shares so purchased from the Fund shall be the net asset value, determined as set forth in Section 3(d3(e) hereof. (c) The shares are to be resold by the Distributor to investors at net asset value, as set forth in Section 3(d3(e) here- ofhereof , or to securities dealers having agreements with the Distri-Distributor upon the terms and conditions set forth in Section 7 hereof. 3.

Purchase of Shares from the Fund. (a) Prior to the continuous offering of the shares, com- mencing on a date agreed on agreed-upon by the Fund and the Distributor, it is contemplated that the Distributor will solicit subscriptions for shares during a subscription period which shall last for such period as may be agreed upon by the parties hereto. The sub- scriptions will be payable within five six business days after the termination of the subscription period, at which time the Fund will commence operations. (b) After the Fund commences operations, the Fund will commence an offering of its shares and thereafter the Distributor shall have the right to buy from the Fund the shares needed, but not more than the shares needed (except for clerical errors in transmission) to fill unconditional orders for shares of the Fund placed with the Distributor by investors or securities dealers. The price which the Distributor shall pay for the shares so purchased from the Fund shall be the net asset value, determined as set forth in Section 3(d) hereof. (c) The shares are to be resold by the Distributor to investors at net asset value, as set forth in Section 3(d) here- of, or to securities dealers having agreements with the Distri-.