Common use of MULTIPLE CLASSES OF SHARES Clause in Contracts

MULTIPLE CLASSES OF SHARES. REDUCED SALES CHARGES a. Distributor may, from time to time, provide Financial Intermediary with written guidelines or standards relating to the sale, distribution or servicing of Funds offering multiple classes of Shares, including classes offering different sales charges, Rule 12b-1 Plan fees or other operating expenses. b. In accordance with the terms of each applicable Prospectus, Financial Intermediary acknowledges that a reduced sales charge or no sales charge (collectively, “discounts”) may be available to purchasers of Shares. Financial Intermediary represents that it has, and will maintain during the term of this Agreement, adequate written supervisory procedures to ensure that Financial Intermediary’s customers receive all available discounts, and Financial Intermediary agrees: (i) to inform its customers of applicable discount opportunities and to inquire about other qualifying holdings that might entitle customers to receive discounts; (ii) to advise Distributor, contemporaneously with each purchase order it forwards to Distributor as agent for its customers, of the availability of any discounts; and (iii) that in the event that Financial Intermediary fails to provide Distributor with information concerning the availability of discounts as provided in (ii) above, Financial Intermediary, and not Distributor or the Funds or any class thereof, shall be responsible for reimbursing its customer any applicable discount amount.

MULTIPLE CLASSES OF SHARES. REDUCED SALES CHARGESReduced Sales Charges a. Distributor (i) VKFI may, from time to time, provide Financial Intermediary Dealer with written guidelines or standards relating to the sale, distribution or servicing of Funds offering multiple classes of Shares, including classes offering different sales charges, Rule 12b-1 Plan, Distribution Plan or Service Plan (as described below) fees or other operating expenses. b. (ii) In accordance with the terms of each applicable Prospectus, Financial Intermediary Dealer acknowledges that a reduced sales charge or no sales charge (collectively, “"discounts”") may be available to purchasers of Shares. Financial Intermediary Dealer represents that it has, and will maintain during the term of this Agreement, adequate written supervisory procedures and internal controls to ensure that Financial Intermediary’s Dealer's customers receive all available discounts, and Financial Intermediary Dealer agrees: (iA) to inform its customers of applicable discount opportunities and to inquire about other qualifying holdings that might entitle customers to receive discounts; (iiB) to advise DistributorVKFI, contemporaneously with each purchase order it forwards to Distributor VKFI as agent for its customers, of the availability of any discounts; and (iiiC) that in the event that Financial Intermediary Dealer fails to provide Distributor VKFI with information concerning the availability of discounts as provided in (iiB) above, Financial IntermediaryDealer, and not Distributor VKFI or the Funds or any class thereofFunds, shall be responsible for reimbursing its customer any applicable discount amount.

MULTIPLE CLASSES OF SHARES. REDUCED SALES CHARGES a. Distributor may, from time to time, provide Financial Intermediary Dealer with written guidelines or standards relating to the sale, distribution or servicing of Eligible Funds offering multiple classes of Shares, including classes offering different sales charges, Rule 12b-1 Plan fees or other operating expenses. b. If applicable to a particular Eligible Fund, Dealer will not accept a purchase order from a customer nor submit a purchase order to Distributor for Class A shares of the Eligible Fund that qualifies for investment in Class D shares of such Eligible Fund. c. In accordance with the terms of each applicable Prospectus, Financial Intermediary Dealer acknowledges that a reduced sales charge or no sales charge (collectively, “"discounts”") may be available to purchasers of Shares. Financial Intermediary Dealer represents that it has, and will maintain during the term of this Agreement, adequate written supervisory procedures and internal controls to ensure that Financial Intermediary’s Dealer's customers receive all available discounts, and Financial Intermediary Dealer agrees: : (i) to inform its customers of applicable discount opportunities and to inquire about other qualifying holdings that might entitle customers to receive discounts; (ii) to advise Distributor, contemporaneously with each purchase order it forwards to Distributor as agent for its customers, of the availability of any discounts; and (iii) that in the event that Financial Intermediary Dealer fails to provide Distributor with information concerning the availability of discounts as provided in (ii) above, Financial IntermediaryDealer, and not Distributor or the Funds or any class thereofEligible Funds, shall be responsible for reimbursing its customer any applicable discount amount.