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

Sale of Shares of the Fund. 3.1. The Distributor will have the right to sell on behalf of the Fund, as its agent, any Shares needed but not more than the Shares needed (except for clerical errors in transmission) to fill unconditional orders for Shares placed with the Distributor by investors. The Distributor agrees that the Fund shall receive 100% of the net asset value, determined as set forth in the then current and effective prospectus and/or statement of additional information (the “Prospectus”), for all Shares sold by the Distributor. The Fund acknowledges that the Distributor will sell Shares subject to distribution fees and/or service fees as set forth from time to time in the Prospectus and enter into sales or servicing agreements with registered securities brokers and banks and into servicing agreements with financial institutions and other industry professionals, such as investment advisers, accountants and estate planning firms. In entering into such agreements, the Distributor shall act only on its own behalf as principal underwriter and distributor.