Common use of Purchases and Redemptions Clause in Contracts

Purchases and Redemptions. All orders for the purchase of any fund shares shall be executed at the then current net asset value per share and all orders for the redemption of any fund shares shall be executed at the then current net asset value per share, in each case as described in the Prospectus of the Fund. The minimum initial purchase order and minimum subsequent purchase order by any person shall be as set forth in the Prospectus of the Fund. All orders are subject to acceptance or rejection by the Trust at its sole discretion. Unless otherwise mutually agreed to in writing, each transaction shall be promptly confirmed in writing to the customer on a fully disclosed basis and a copy of each confirmation shall be sent simultaneously to Broker-Dealer. Broker-Dealer agrees that upon receipt of duplicate confirmations Broker-Dealer will examine the same and promptly notify the Trust of any errors or discrepancies that Broker-Dealer discovers. Broker-Dealer shall promptly bring to the attention of the Trust any errors in such confirmations claimed by Broker-Dealer's customers. The Trust reserves the right, at its discretion and without notice, to suspend the sale of shares or withdraw entirely the sale of shares of the Fund.