Common use of DISTRIBUTION OF SECURITIES Clause in Contracts

DISTRIBUTION OF SECURITIES. (1) The Corporation covenants and agrees that, during the term of this agreement and any renewal or extension, AEFA shall have the exclusive right to act as principal underwriter for the Fund and to offer for sale and to distribute any and all shares of each class of capital stock issued or to be issued by the Fund. The exclusive right to act as principal underwriter will not apply to transactions by the Fund at net asset value as permitted by the currently effective prospectus and statement of additional information (the "prospectus") or to transactions by the Fund that do not involve sales to the general public, including transactions between the Fund and its shareholders only, transactions involving the reorganization of the Fund and transactions involving the merger, consolidation or acquisition of assets with another corporation or trust.

DISTRIBUTION OF SECURITIES. (1) The Corporation covenants and agrees that, during the term of this agreement and any renewal or extension, AEFA shall have the exclusive right to act as principal underwriter for the Fund Funds and to offer for sale and to distribute any and all shares of each class of capital stock issued or to be issued by the FundFunds. The exclusive right to act as principal underwriter will not apply to transactions by the Fund Funds at net asset value as permitted by the currently effective prospectus and statement of additional information (the "prospectus") or to transactions by the Fund Funds that do not involve sales to the general public, including transactions between the Fund Funds and its shareholders only, transactions involving the reorganization of the Fund Funds and transactions involving the merger, consolidation or acquisition of assets with another corporation or trust.

DISTRIBUTION OF SECURITIES. (1) The Corporation covenants and agrees that, during the term of this agreement and any renewal or extension, AEFA shall have the exclusive right to act as principal underwriter for the each Fund and to offer for sale and to distribute any and all shares of each class of capital stock issued or to be issued by the FundFunds. The exclusive right to act as principal underwriter will not apply to transactions by the Fund at net asset value as permitted by the currently effective prospectus and statement of additional information (the "prospectus") or to transactions by the Fund that do not involve sales to the general public, including transactions between the Fund and its shareholders only, transactions involving the reorganization of the Fund and transactions involving the merger, consolidation or acquisition of assets with another corporation or trust.