Common use of Redemption by Shareholder Clause in Contracts

Redemption by Shareholder. Each holder of Shares of a particular Series shall have the right at such times as may be permitted by the Trust, but no less frequently than required by the 1940 Act, to require the Trust to redeem all or any part of his Shares of that Series or Class at a redemption price equal to the net asset value per Share of that Series or Class next determined in accordance with subsection (h) of this Section 4.2, less any applicable redemption fee or sales charge, after the Shares are properly tendered for redemption. Payment of the redemption price shall be made from the assets of the applicable Series in cash; provided, however, that if the Trustees determine, which determination shall be conclusive, that conditions exist which make payment wholly in cash unwise or undesirable, the Trust may make payment wholly or partly in securities or other assets belonging to the Series of which the Shares being redeemed are part at the value of such securities or assets used in such determination of net asset value. Notwithstanding the foregoing, the Trust may postpone payment of the redemption price and may suspend the right of the holders of Shares of any Series or Class to require the Trust to redeem Shares of that Series or Class during any period or at any time when and to the extent permissible under the 1940 Act, and such redemption is conditioned upon the Trust having funds or property legally available therefor.

Redemption by Shareholder. Each holder of Shares of a particular Series Portfolio shall have the right at such times as may be permitted by the Trust, but no less frequently than required by the 1940 Actonce each week, to require the Trust to redeem all or any part of his Shares of that Series or Class Portfolio at a redemption price equal to the net asset value per Share of that Series or Class Portfolio next determined in accordance with subsection (h) of this Section 4.2, less any applicable redemption fee or sales charge, 6.2 after the Shares are properly tendered for redemption; PROVIDED, that the Trustees may from time to time, in their discretion, determine and impose a fee for such redemption. Payment of the redemption price shall be made from the assets of the applicable Series in cash; providedPROVIDED, howeverHOWEVER, that if the Trustees determine, which determination shall be conclusive, that conditions exist which make payment wholly in cash unwise or undesirable, the Trust may make payment wholly or partly in securities Securities or other assets belonging to the Series of which the Shares being redeemed are part such Portfolio at the value of such securities Securities or assets used in such determination of net asset value. Notwithstanding the foregoing, the Trust may postpone payment of the redemption price and may suspend the right of the holders of Shares of any Series or Class Portfolio to require the Trust to redeem Shares of that Series or Class Portfolio during any period or at any time when and to the extent permissible under the 1940 Act, and such redemption is conditioned upon the Trust having funds or property legally available therefor.

Redemption by Shareholder. Each To the extent of the assets of the particular Sub-Trust legally available for such redemptions, each holder of Shares of a particular Series Sub-Trust shall have the right at such times as may be permitted by the Trust, but no less frequently than required by the 1940 Act, Trust to require the Trust to redeem all or any part of his Shares of that Series or Class Sub-Trust at a redemption price equal to the net asset value per Share of that Series or Class Sub-Trust next determined in accordance with subsection (h) of this Section 4.2, less any applicable redemption fee or sales charge, 4.2 after the Shares are properly tendered for redemption. Payment of the redemption price shall be made from the assets of the applicable Series in cash; provided, however, that if the Trustees determine, which determination shall be conclusive, that conditions exist which make payment wholly in cash unwise or undesirable, the Trust may make payment wholly or partly in securities or other assets belonging to the Series Sub-Trust of which the Shares being redeemed are part at the value of such securities or assets used in such determination of net asset value. Notwithstanding the foregoing, the Trust may postpone payment of the redemption price and may suspend the right of the holders of Shares of any Series or Class Sub-Trust to require the Trust to redeem Shares of that Series or Class Sub-Trust during any period or at any time when and to the extent permissible under the 1940 Act. The Trustees shall establish such rules and procedures as they deem appropriate for the redemption of Shares, and such redemption is conditioned upon provided that all redemptions shall be in accordance with the Trust having funds or property legally available therefor1940 Act.

Redemption by Shareholder. Each holder of Shares of a particular Series Portfolio shall have the right at such times as may be permitted by the Trust, but no less frequently than required by the 1940 Actonce each week, to require the Trust to redeem all or any part of his Shares of that Series or Class Portfolio at a redemption price equal to the net asset value per Share of that Series or Class Portfolio next determined in accordance with subsection (h) of this Section 4.2, less any applicable redemption fee or sales charge, 6.2 after the Shares are properly tendered for redemption; PROVIDED that the Trustees may from time to time, in their discretion, determine and impose a fee for such redemption. Payment of the redemption price shall be made from the assets of the applicable Series in cash; providedPROVIDED, howeverHOWEVER, that if the Trustees determine, which determination shall be conclusive, that conditions exist which make payment wholly in cash unwise or undesirable, the Trust may make payment wholly or partly in securities Securities or other assets belonging to the Series of which the Shares being redeemed are part such Portfolio at the value of such securities Securities or assets used in such determination of net asset value. Notwithstanding the foregoing, the Trust may postpone payment of the redemption price and may suspend the right of the holders of Shares of any Series or Class Portfolio to require the Trust to redeem Shares of that Series or Class Portfolio during any period or at any time when and to the extent permissible under the 1940 Act, and such redemption is conditioned upon the Trust having funds or property legally available therefor.

Redemption by Shareholder. Each holder of Shares of a particular Series Sub-Trust or any class thereof shall have the right at such times as may be permitted by the Trust, but no less frequently than required by the 1940 Actonce each week, to require the Trust to redeem all or any part of his Shares of that Series Sub-Trust or Class class thereof at a redemption price equal to the net asset value per Share of that Series Sub-Trust or Class class thereof next determined in accordance with subsection (h) of this Section 4.2, less any applicable redemption fee or sales charge, 4.2 after the Shares are properly tendered for redemption. Payment of the redemption price shall be made from the assets of the applicable Series in cash; provided, however, that if the Trustees determine, which determination shall be conclusive, that conditions exist which make payment wholly in cash unwise or undesirable, the Trust may make payment wholly or partly in securities or other assets belonging to the Series Sub-Trust of which the Shares being redeemed are part at the value of such securities or assets used in such determination of net asset value. Notwithstanding the foregoing, the Trust may postpone payment of the redemption price and may suspend the right of the holders of Shares of any Series Sub-Trust or Class class thereof to require the Trust to redeem Shares of that Series or Class Sub-Trust during any period or at any time when and to the extent permissible under the 1940 Act, and such redemption is conditioned upon the Trust having funds or property legally available therefor.

Redemption by Shareholder. Each holder of Shares of a particular Series Fund shall have the right at such times as may be permitted by the Trust, but no less frequently than required by the 1940 Actonce a week, to require the Trust to redeem all or any part of his Shares of that Series or Class Fund at a redemption price equal to the net asset value per Share of that Series or Class Fund next determined in accordance with subsection (h) of this Section 4.2, less any applicable redemption fee or sales charge, 6.2 after the Shares are properly tendered for redemption; PROVIDED that the Trustees may from time to time, in their discretion, determine and impose a fee for such redemption. Payment of the redemption price shall be made from the assets of the applicable Series in cash; providedPROVIDED, howeverHOWEVER, that if the Trustees determine, which determination shall be conclusive, that conditions exist which make payment wholly in cash unwise or undesirable, the Trust may make payment wholly or partly in securities Securities or other assets belonging to the Series of which the Shares being redeemed are part such Fund at the value of such securities Securities or assets used in such determination of net asset value. Notwithstanding the foregoing, the Trust may postpone payment of the redemption price and may suspend the right of the holders of Shares of any Series or Class Fund to require the Trust to redeem Shares of that Series or Class Fund during any period or at any time when and to the extent permissible under the 1940 Act, and such redemption is conditioned upon the Trust having funds or property legally available therefor.

Redemption by Shareholder. Each holder of Shares of a particular Series shall have the right at such times as may be permitted by the Trust, but no less frequently than required by the 1940 Actonce each week, to require the Trust to redeem all or any part of his Shares of that Series or Class at a redemption price equal to the net asset value per Share of that Series or Class next determined in accordance with subsection (h) of this Section 4.2, less any applicable redemption fee or sales charge, 4.2 after the Shares are properly tendered for redemption, subject to any contingent deferred sales charge in effect at the time of redemption. Payment of the redemption price shall be made from the assets of the applicable Series in cash; provided, however, that if the Trustees determine, which determination shall be conclusive, that conditions exist which make payment wholly in cash unwise or undesirable, the Trust may may, subject to the requirements of the 1940 Act, make payment wholly or partly in securities or other assets belonging to the Series of which the Shares being redeemed are part at the value of such securities or assets used in such determination of net asset value. Notwithstanding the foregoing, the Trust may postpone payment of the redemption price and may suspend the right of the holders of Shares of any Series or Class to require the Trust to redeem Shares of that Series or Class during any period or at any time when and to the extent permissible under the 1940 Act, and such redemption is conditioned upon the Trust having funds or property legally available therefor.

Redemption by Shareholder. Each holder of Shares of a particular Series Sub-Trust or Class thereof shall have the right at such times as may be permitted by the Trust, but no less frequently than required by the 1940 Actonce each week, to require the Trust to redeem all or any part of his Shares of that Series Sub-Trust or Class thereof at a redemption price equal to the net asset value per Share of that Series Sub-Trust or Class thereof next determined in accordance with subsection (h) of this Section 4.2, less any applicable redemption fee or sales charge, 4.2 after the Shares are properly tendered for redemption. Payment of the redemption price shall be made from the assets of the applicable Series in cash; provided, however, that if the Trustees determine, which determination shall be conclusive, that conditions exist which make payment wholly in cash unwise or undesirable, the Trust may make payment wholly or partly in securities or other assets belonging to the Series Sub-Trust of which the Shares being redeemed are part at the value of such securities or assets used in such determination of net asset value. Notwithstanding the foregoing, the Trust may postpone payment of the redemption price and may suspend the right of the holders of Shares of any Series Sub-Trust or Class thereof to require the Trust to redeem Shares of that Series or Class Sub-Trust during any period or at any time when and to the extent permissible under the 1940 Act, and such redemption is conditioned upon the Trust having funds or property legally available therefor.