Common use of Sale of Shares by the Fund Clause in Contracts

Sale of Shares by the Fund. The rights granted to the Distributor shall be non-exclusive in that the Fund reserves the right to sell its Shares to investors on applications received and accepted by the Fund. Further, the Fund reserves the right to issue Shares in connection with (a) the merger or consolidation of the assets of, or acquisition by the Fund through purchase or otherwise, with any other investment company, trust or personal holding company; (b) the payment or reinvestment of dividends or distributions; or (c) any offer of exchange permitted by Section 11 of the 1940 Act.

Sale of Shares by the Fund. The rights granted to the Distributor shall be non-exclusive in that the Fund reserves the right to sell its Shares shares to investors on applications received and accepted by the Fund. Further, the Fund reserves the right to issue Shares shares in connection with (a) the merger or consolidation of the assets ofconsolidation, or acquisition by the Fund through purchase or otherwise, with any other investment company, trust or personal holding company; and (b) a pro rata distribution directly to the payment holders of shares in the nature of a stock dividend or reinvestment of dividends or distributions; or (c) any offer of exchange permitted by Section 11 of the 1940 Actsplit-up.

Sale of Shares by the Fund. The rights granted to the Distributor shall be non-exclusive in that the Fund reserves the right to sell its Shares shares to investors on applications received and accepted by the Fund. Further, the Fund reserves the right to issue Shares shares in connection with (a) the merger or consolidation of the assets ofconsolidation, or acquisition by the Fund through purchase or otherwise, with any other investment company, trust or personal holding company; and (b) a PRO RATA distribution directly to the payment holders of shares in the nature of a stock dividend or reinvestment of dividends or distributions; or (c) any offer of exchange permitted by Section 11 of the 1940 Actsplit-up.

Sale of Shares by the Fund. The rights granted to the Distributor shall be non-exclusive nonexclusive in that the Fund reserves the right to sell its Shares to investors on applications received and accepted by the Fund. Further, the Fund reserves the right to issue Shares in connection with (a) the merger or consolidation of the assets of, or acquisition by the Fund through purchase or otherwise, with any other investment company, trust or personal holding company; (b) the payment or reinvestment of dividends or distributions; or (c) any offer of exchange permitted by Section 11 of the 1940 Act.

Sale of Shares by the Fund. The rights granted to the Distributor shall be non-exclusive nonexclusive in that the Fund reserves the right to sell its Shares to investors on applications received and accepted by the Fund. Further, the Fund reserves the right to issue Shares in connection with (a) the merger a merger, consolidation asset acquisition or consolidation of the assets of, or acquisition by similar transaction involving the Fund through purchase or otherwise, with and any other investment company, trust trust, or personal holding company; (b) the payment or reinvestment of dividends or distributions; or (c) any offer of exchange permitted by Section 11 of the 1940 Act.

Sale of Shares by the Fund. The rights granted to the Distributor shall be non-exclusive nonexclusive in that the Fund reserves the right to sell its Shares to investors on applications received and accepted by the Fund. Further, the Fund reserves the right to issue Shares in connection with (a) the merger merger, consolidation or consolidation of the assets of, or acquisition other combination by the Fund Fund, through purchase or otherwise, with any other investment company, trust or personal holding company; (b) the payment or reinvestment of dividends or distributions; or (c) any offer of exchange permitted by Section 11 of the 1940 Actentity.

Sale of Shares by the Fund. The rights granted to the Distributor shall be non-exclusive nonexclusive in that the Fund reserves the right to sell its Shares to investors on pursuant to applications received and accepted by the FundFund or its transfer agent. Further, the Fund reserves the right to issue Shares in connection with (a) the merger or consolidation of the assets of, or acquisition by the Fund through purchase or otherwise, with any other investment company, trust or personal holding company; (b) the payment or reinvestment of dividends or distributions; or (c) any offer of exchange permitted by Section 11 of the 1940 Act.other

Sale of Shares by the Fund. The rights granted to the -------------------------- Distributor shall be non-exclusive in that the Fund reserves the right to sell its Shares to investors on applications received and accepted by the Fund. Further, the Fund reserves the right to issue Shares in connection with (a) the merger or consolidation of the assets of, or acquisition by the Fund through purchase or otherwise, with any other investment company, trust or personal holding company; (b) the payment or reinvestment of dividends or distributions; or (c) any offer of exchange permitted by Section 11 of the 1940 Act.

Sale of Shares by the Fund. The rights granted to the Distributor shall be non-exclusive in that the Fund reserves the right to sell its Shares to investors on applications received and accepted by the Fund. Further, the Fund reserves the right to issue Shares in connection with (a) the merger or consolidation of the assets of, or acquisition by the Fund through purchase or otherwise, with any other investment company, trust or personal holding company; (b) the payment or reinvestment of dividends or distributions; or (c) any offer of exchange permitted by Section 11 of the 1940 Act.

Sale of Shares by the Fund. The rights granted to the Distributor shall be non-exclusive in that the Fund reserves the right to sell its Shares shares to investors on applications received and accepted by the Fund. Further, the Fund reserves the right to issue Shares shares in connection with (a) the merger or consolidation of the assets ofconsolidation, or acquisition by the Fund through purchase or otherwise, with any other investment company, trust or personal holding company; and (b) a PRO RATA distribution directly to --- ---- the payment holders of shares in the nature of a stock dividend or reinvestment of dividends or distributions; or (c) any offer of exchange permitted by Section 11 of the 1940 Actsplit-up.

Sale of Shares by the Fund. The rights granted to the Distributor shall be non-exclusive nonexclusive in that the Fund reserves the right to sell its Shares shares to investors on applications received and accepted by the Fund. Further, the Fund reserves the right to issue Shares shares in connection with (a) the merger or consolidation of the assets ofconsolidation, or acquisition by the Fund through purchase or otherwise, with any other investment company, trust trust, or personal holding company; (b) the payment or reinvestment of dividends or distributions; or (c) any offer of exchange permitted by Section 11 of the 1940 Act.