Common use of Purchase of Shares from the Fund Clause in Contracts

Purchase of Shares from the Fund. 3.1 The Shares shall be sold by the Distributor as the agent of the Fund and delivered by the Distributor or the Selling Agents selected by the Distributor, as described in Section 6.3. hereof, to investors at the applicable offering price as set forth in the Prospectus. 3.2 The Fund shall have the right to suspend the sale of any or all classes of its Shares at times as may be determined by the Board of Trustees of the Fund (the “Board”). 3.3 The Fund, or any agent of the Fund designated in writing by the Fund, shall be promptly advised of all purchase orders for Shares received by the Distributor. Any order may be rejected by the Fund; provided, however, that the Fund will not arbitrarily or without reasonable cause refuse to accept or confirm orders for the purchase of Shares. The Fund (or its agent) will confirm orders upon their receipt, will make appropriate book entries and upon receipt by the Fund (or its agent) of payment therefor, will deliver deposit receipts for such Shares pursuant to the instructions of the Distributor. Payment shall be made to the Fund in The Clearing House Association funds or federal funds. The Distributor agrees to cause such payment and such instructions to be delivered promptly to the Fund (or its agent).