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

Purchase of Shares from the Fund. (a) The Fund herewith engages Distributor to act as exclusive distributor of its shares. Said sales shall be made only to investors eligible to invest in a registered investment company consistent with such company's serving as an investment vehicle for variable annuities and variable life insurance company contracts. The Distributor will hold itself available to receive by mail, telex and/or telephone, orders for the purchase or redemption of shares and will accept or reject such orders on behalf of the Fund in accordance with the provisions of the Fund's prospectus, and will be available to transmit such orders as are so accepted to the Fund's transfer agent as promptly as possible for processing at the shares' net asset value next determined in accordance with the prospectus. (b) All shares sold by the Distributor under this Agreement shall be sold at the net asset value per share ("Offering Price") determined in the manner described in the Fund's prospectus, as it may be amended from time to time.

Purchase of Shares from the Fund. (a) The Fund herewith engages Distributor to act as exclusive distributor of its shares. Said sales shall be made only to investors eligible to invest in a registered investment company consistent with such company's serving as an investment vehicle for variable annuities and variable life insurance company contracts. The Distributor will hold itself available to receive by mail, telex and/or telephone, orders for the purchase or redemption of shares and will accept or reject such orders on behalf of the Fund in accordance with the provisions of the Fund's prospectus, and will be available to transmit such orders as are so accepted to the Fund's transfer agent as promptly as possible for processing at the shares' net asset value next determined in accordance with the prospectus. (b) All shares sold by the Distributor under this Agreement shall be sold at the net asset value per share ("Offering Price") determined in the manner described in the Fund's prospectus, as it may be amended from time to time.