Common use of Share Purchases Clause in Contracts

Share Purchases. When the Company declares a Distribution, the Plan Administrator, on the shareholder’s behalf, will receive additional authorized Shares from the Company either newly issued or repurchased from shareholders by the Company and held as treasury shares. The number of Shares to be received when Distributions are reinvested will be determined by dividing the amount of the Distribution by the Company’s net asset value per Share as of as of the end of the prior month. There will be no sales load charged on Shares issued to a shareholder under the Plan but such Shares will be subject to ongoing distribution and servicing fees. All Shares purchased under the Plan will be held in the name of the relevant participant. In the case of shareholders, such as banks, brokers or nominees, that hold Shares for others who are beneficial owners participating under the Plan, the Plan Administrator will administer the Plan on the basis of the number of Shares certified from time to time by the record shareholder as representing the total amount of Shares registered in the shareholder’s name and held for the account of beneficial owners participating under the Plan. If a shareholder requests that the Company repurchase all of the shareholder’s Shares, any Shares issued to the shareholder under the Plan subsequent to the expiration of the repurchase offer will be considered part of the shareholder’s repurchase request.