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

Sale of Shares by the Trust. The rights granted to the Distributor shall be nonexclusive in that the Trust, on behalf of the Funds, reserves the right to sell Shares of the Funds to investors pursuant to applications received and accepted by the Trust or its transfer agent, if any. Further, the Trust reserves the right to issue Shares in connection with the merger or consolidation of any other investment company, trust or personal holding company with the Trust or the Trust's acquisition by the purchase or otherwise, of all or substantially all of the assets of an investment company, trust or personal holding company. Any right granted to Distributor to accept orders for Shares, or to make sales on behalf of the Funds or to purchase Shares for resale, will not apply to Shares issued in connection with the merger or consolidation of any other investment company with the Trust or its acquisition by purchase or otherwise, of all or substantially all of the assets of any investment company, trust or personal holding company, or substantially all of the outstanding shares or interests of any such entity, and such right shall not apply to Shares that may be offered by the Trust to shareholders by virtue of their being shareholders of the Funds.

Sale of Shares by the Trust. The rights granted to the Distributor shall be nonexclusive in that the Trust, on behalf of the Funds, Trust reserves the right to sell its Shares of the Funds to investors pursuant to applications received and accepted by the Trust or its transfer agent, if any. Further, the Trust reserves the right to issue Shares in connection with the merger or consolidation of any other investment company, trust or personal holding company with the Trust or the Trust's Trust`s acquisition by the purchase or otherwise, of all or substantially all of the assets of an investment company, trust or personal holding company, or substantially all of the outstanding shares or interests of any such entity. Any right granted to Distributor to accept orders for Shares, or to make sales on behalf of the Funds Trust or to purchase Shares for resale, will not apply to Shares issued in connection with the merger or consolidation of any other investment company with the Trust or its acquisition by purchase or otherwise, of all or substantially all of the assets of any investment company, trust or personal holding company, or substantially all of the outstanding shares or interests of any such entity, and such right shall not apply to Shares that may be offered by the Trust to shareholders by virtue of their being shareholders of the FundsTrust.