Common use of Redemption or Repurchase Within Seven Days Clause in Contracts

Redemption or Repurchase Within Seven Days. If shares are tendered to the Trust for redemption or are repurchased by the Trust within seven (7) business days after the Underwriter's acceptance of the original purchase order for the shares, the Underwriter shall immediately refund to the Trust the full amount of any sales commission (net of allowances to dealers or brokers) allowed to the Underwriter on the original sale, and shall promptly, upon receipt thereof, pay to the Trust any refunds from dealers or brokers of the balance of sales commissions realized by the Underwriter. The Trust shall notify the Underwriter of such tender for redemption within ten (10) days of the day on which notice of such tender for redemption is received by the Trust.

Redemption or Repurchase Within Seven Days. If shares are tendered to the Trust for redemption or are repurchased by the Trust within seven (7) business days after the Underwriter's Underwriter s acceptance of the original purchase order for the shares, the Underwriter shall immediately refund to the Trust the full amount of any sales commission (net of allowances to dealers or brokers) allowed to the Underwriter on the original sale, and shall promptly, upon receipt thereof, pay to the Trust any refunds from dealers or brokers of the balance of sales commissions realized reallowed by the Underwriter. The Trust shall notify the Underwriter of such tender for redemption within ten (10) days of the day on which notice of such tender for redemption is received by the Trust.