Common use of Repurchase by Agreement Clause in Contracts

Repurchase by Agreement. The Trust may repurchase Shares of the Trust directly, or through a principal underwriter, if any, or another agent designated for the purpose, by agreement with the owner thereof at a price not exceeding the net asset value per share of the appropriate series or class determined as of the time when the purchase or contract of purchase is made or the net asset value as of any time which may be later determined pursuant to Section III hereof, provided payment is not made for the Shares prior to the time as of which such net asset value is determined. Repurchased Shares may be resold by the Trust.

Repurchase by Agreement. The Trust may repurchase Shares shares of the Trust directly, or through a principal underwriter, if any, or another agent designated for the purpose, by agreement with the owner thereof at a price not exceeding the net asset value per share of the appropriate series or class determined as of the time when the purchase or contract of purchase is made or the net asset value as of any time which may be later determined pursuant to Section III hereof, provided payment is not made for the Shares shares prior to the time as of which such net asset value is determined. Repurchased Shares shares may be resold by the Trust.

Repurchase by Agreement. The Trust may repurchase Shares shares of the Trust directly, or through a principal underwriter, if any, or another agent designated for the purpose, by agreement with the owner thereof at a price not exceeding the net asset value per share of the appropriate series or class determined as of the time when the purchase or contract of purchase is made or the net asset value as of any time which may be later determined pursuant to Section III hereof, provided payment is not made for the Shares shares prior to the time as of which such net asset value is determined. Repurchased Shares shares may be resold by the Trust.