Common use of Redemptions and Transfers Clause in Contracts

Redemptions and Transfers. (1) The Company shall receive redemption requests and redemption directions and determine whether such redemption requests comply with such procedures as may be described in the Prospectuses or set forth in Proper Instructions. The Company shall notify the Fund on a daily basis of the total amount of redemption requests processed and monies paid to the Company for redemptions. (2) Pursuant to redemption requests and in accordance with the current Prospectuses, the Company shall compute and issue the appropriate number of Shares of the Fund to be redeemed and deduct such Shares in the appropriate Shareholder accounts. (3) At the appropriate time upon realizing redemption proceeds with respect to any redemption, the Company shall pay or cause to be paid the redemption proceeds in the manner instructed by the redeeming Shareholders, pursuant to procedures described in the then-current Prospectuses. (4) The Company shall effect transfers of Shares by the registered owners thereof. (5) The Company shall identify and process abandoned accounts and uncashed checks for state escheat requirements on an annual basis and report such actions to the Fund.

Redemptions and Transfers. (1) The Company shall receive redemption requests and redemption directions and determine whether such redemption requests comply with such procedures as may be described in the Prospectuses Prospectus or set forth in Proper Instructions. The Company shall notify the Fund Funds on a daily basis of the total amount of redemption requests processed and monies paid to the Company for redemptions. (2) Pursuant to redemption requests and in accordance with the current ProspectusesProspectus, the Company shall compute and issue the appropriate number of Shares of the each Fund and/or Class to be redeemed and deduct such Shares in the appropriate Shareholder accounts. (3) At the appropriate time upon realizing redemption proceeds with respect to any redemption, the Company shall pay or cause to be paid the redemption proceeds in the manner instructed by the redeeming Shareholders, pursuant to procedures described in the then-current ProspectusesProspectus. (4) The Company shall effect transfers of Shares by the registered owners thereof. (5) The Company shall identify and process abandoned accounts and uncashed checks for state escheat requirements on an annual basis and report such actions to the Fund.