Common use of Duties of the Placement Agent Clause in Contracts

Duties of the Placement Agent. (a) In performing its duties as placement agent, the Placement Agent will act in conformity with the applicable Offering Documents as amended or supplemented from time to time, and with the instructions and directions of the Board of Trustees of the Trust, the requirements of the 1940 Act and all other applicable federal and state laws and regulations. (b) The Placement Agent agrees to hold itself available to receive orders for the purchase or redemption of the Shares of the Funds and will accept or reject such orders on behalf of the Trust in accordance with the provisions of the applicable Offering Documents and any instructions received from the Trust, and will transmit such orders as are so accepted to the Trust's transfer agent promptly for processing at the Shares' net asset value next determined in accordance with the applicable Offering Documents and any instructions received from the Trust. (c) The Placement Agent shall not be obligated to sell any certain number of Shares. Shares shall be sold without a sales charge.