Right of Accumulation. To qualify for the lower sales charge rates that apply to larger purchases of Class A shares, you and your spouse can add together: o Class A and Class B shares you purchase for your individual accounts (including IRAs and 403(b) plans), or for your joint accounts, or for trust or custodial accounts on behalf of your children who are minors, and o Current purchases of Class A and Class B shares of the Fund and other ▇▇▇▇▇▇▇▇▇▇▇ funds to reduce the sales charge rate that applies to current purchases of Class A shares, and o Class A and Class B shares of ▇▇▇▇▇▇▇▇▇▇▇ funds you previously purchased subject to an initial or contingent deferred sales charge to reduce the sales charge rate for current purchases of Class A shares, provided that you still hold your investment in one of the ▇▇▇▇▇▇▇▇▇▇▇ funds. A fiduciary can count all shares purchased for a trust, estate or other fiduciary account (including one or more employee benefit plans of the same employer) that has multiple accounts. The Distributor will add the value, at current offering price, of the shares you previously purchased and currently own to the value of current purchases to determine the sales charge rate that applies. The reduced sales charge will apply only to current purchases. You must request it when you buy shares. |X| The ▇▇▇▇▇▇▇▇▇▇▇ Funds. The ▇▇▇▇▇▇▇▇▇▇▇ funds are those mutual funds for which the Distributor acts as the distributor or the sub-distributor and currently include the following: ▇▇▇▇▇▇▇▇▇▇▇ Bond Fund ▇▇▇▇▇▇▇▇▇▇▇ Municipal Bond Fund ▇▇▇▇▇▇▇▇▇▇▇ California Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ New York Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ Capital Appreciation Fund ▇▇▇▇▇▇▇▇▇▇▇ New Jersey Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ Capital Preservation Fund ▇▇▇▇▇▇▇▇▇▇▇ Pennsylvania Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ Capital Income Fund ▇▇▇▇▇▇▇▇▇▇▇ Quest Balanced Value Fund ▇▇▇▇▇▇▇▇▇▇▇ Champion Income Fund ▇▇▇▇▇▇▇▇▇▇▇ Quest Capital Value Fund, Inc. ▇▇▇▇▇▇▇▇▇▇▇ Concentrated Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Quest Global Value Fund, Inc. ▇▇▇▇▇▇▇▇▇▇▇ Convertible Securities Fund ▇▇▇▇▇▇▇▇▇▇▇ Quest Opportunity Value Fund ▇▇▇▇▇▇▇▇▇▇▇ Developing Markets Fund ▇▇▇▇▇▇▇▇▇▇▇ Quest Value Fund, Inc. ▇▇▇▇▇▇▇▇▇▇▇ Disciplined Allocation Fund ▇▇▇▇▇▇▇▇▇▇▇ Real Asset Fund ▇▇▇▇▇▇▇▇▇▇▇ Discovery Fund ▇▇▇▇▇▇▇▇▇▇▇ Rochester National Municipals ▇▇▇▇▇▇▇▇▇▇▇ Emerging Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Senior Floating Rate Fund ▇▇▇▇▇▇▇▇▇▇▇ Emerging Technologies Fund ▇▇▇▇▇▇▇▇▇▇▇ Small Cap Value Fund ▇▇▇▇▇▇▇▇▇▇▇ Enterprise Fund ▇▇▇▇▇▇▇▇▇▇▇ Special Value Fund ▇▇▇▇▇▇▇▇▇▇▇ Europe Fund ▇▇▇▇▇▇▇▇▇▇▇ Strategic Income Fund ▇▇▇▇▇▇▇▇▇▇▇ Global Fund ▇▇▇▇▇▇▇▇▇▇▇ Total Return Fund, Inc. ▇▇▇▇▇▇▇▇▇▇▇ Global Growth & Income Fund ▇▇▇▇▇▇▇▇▇▇▇ Trinity Core Fund ▇▇▇▇▇▇▇▇▇▇▇ Gold & Special Minerals Fund ▇▇▇▇▇▇▇▇▇▇▇ Trinity Large Cap Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Trinity Value Fund ▇▇▇▇▇▇▇▇▇▇▇ High Yield Fund ▇▇▇▇▇▇▇▇▇▇▇ U.S. Government Trust ▇▇▇▇▇▇▇▇▇▇▇ Intermediate Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ Value Fund ▇▇▇▇▇▇▇▇▇▇▇ International Bond Fund Limited-Term New York Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ International Growth Fund Rochester Fund Municipals ▇▇▇▇▇▇▇▇▇▇▇ International Small Company Fund OSM1- Gartmore Millennium Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Limited Term Government Fund OSM1 - ▇▇▇▇▇▇▇▇ Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Main Street Growth & Income Fund OSM1 - Mercury Advisors S&P 500 Index ▇▇▇▇▇▇▇▇▇▇▇ Main Street Opportunity Fund OSM1 - Mercury Advisors Focus Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Main Street Small Cap Fund OSM1 - QM Active Balanced Fund ▇▇▇▇▇▇▇▇▇▇▇ MidCap Fund OSM1 - Salomon Brothers Capital Fund ▇▇▇▇▇▇▇▇▇▇▇ Multiple Strategies Fund and the following money market funds: Centennial America Fund, L. P. Centennial New York Tax Exempt Trust Centennial California Tax Exempt Trust Centennial Tax Exempt Trust Centennial Government Trust ▇▇▇▇▇▇▇▇▇▇▇ Cash Reserves Centennial Money Market Trust ▇▇▇▇▇▇▇▇▇▇▇ Money Market Fund, Inc. 1 - "OSM" stands for ▇▇▇▇▇▇▇▇▇▇▇ Select Managers There is an initial sales charge on the purchase of Class A shares of each of the ▇▇▇▇▇▇▇▇▇▇▇ funds except the money market funds. Under certain circumstances described in this Statement of Additional Information, redemption proceeds of certain money market fund shares may be subject to a contingent deferred sales charge. |X| Letters of Intent. Under a Letter of Intent, if you purchase Class A shares or Class A and Class B shares of the Fund and other ▇▇▇▇▇▇▇▇▇▇▇ funds during a 13-month period, you can reduce the sales charge rate that applies to your purchases of Class A shares. The total amount of your intended purchases of both Class A and Class B shares will determine the reduced sales charge rate for the Class A shares purchased during that period. You can include purchases made up to 90 days before the date of the Letter. A Letter of Intent is an investor's statement in writing to the Distributor of the intention to purchase Class A shares or Class A and Class B shares of the Fund (and other ▇▇▇▇▇▇▇▇▇▇▇ funds) during a 13-month period (the "Letter of Intent period"). At the investor's request, this may include purchases made up to 90 days prior to the date of the Letter. The Letter states the investor's intention to make the aggregate amount of purchases of shares which, when added to the investor's holdings of shares of those funds, will equal or exceed the amount specified in the Letter. Purchases made by reinvestment of dividends or distributions of capital gains and purchases made at net asset value without sales charge do not count toward satisfying the amount of the Letter. A Letter enables an investor to count the Class A and Class B shares purchased under the Letter to obtain the reduced sales charge rate on purchases of Class A shares of the Fund (and other ▇▇▇▇▇▇▇▇▇▇▇ funds) that applies under the Right of Accumulation to current purchases of Class A shares. Each purchase of Class A shares under the Letter will be made at the offering price (including the sales charge) that applies to a single lump-sum purchase of shares in the amount intended to be purchased under the Letter. In submitting a Letter, the investor makes no commitment to purchase shares. However, if the investor's purchases of shares within the Letter of Intent period, when added to the value (at offering price) of the investor's holdings of shares on the last day of that period, do not equal or exceed the intended purchase amount, the investor agrees to pay the additional amount of sales charge applicable to such purchases. That amount is described in "Terms of Escrow," below (those terms may be amended by the Distributor from time to time). The investor agrees that shares equal in value to 5% of the intended purchase amount will be held in escrow by the Transfer Agent subject to the Terms of Escrow. Also, the investor agrees to be bound by the terms of the Prospectus, this Statement of Additional Information and the Application used for a Letter of Intent. If those terms are amended, as they may be from time to time by the Fund, the investor agrees to be bound by the amended terms and that those amendments will apply automatically to existing Letters of Intent. If the total eligible purchases made during the Letter of Intent period do not equal or exceed the intended purchase amount, the commissions previously paid to the dealer of record for the account and the amount of sales charge retained by the Distributor will be adjusted to the rates applicable to actual total purchases. If total eligible purchases during the Letter of Intent period exceed the intended purchase amount and exceed the amount needed to qualify for the next sales charge rate reduction set forth in the Prospectus, the sales charges paid will be adjusted to the lower rate. That adjustment will be made only if and when the dealer returns to the Distributor the excess of the amount of commissions allowed or paid to the dealer over the amount of commissions that apply to the actual amount of purchases. The excess commissions returned to the Distributor will be used to purchase additional shares for the investor's account at the net asset value per share in effect on the date of such purchase, promptly after the Distributor's receipt thereof. The Transfer Agent will not hold shares in escrow for purchases of shares of the Fund and other ▇▇▇▇▇▇▇▇▇▇▇ funds by OppenheimerFunds prototype 401(k) plans under a Letter of Intent. If the intended purchase amount under a Letter of Intent entered into by an OppenheimerFunds prototype 401(k) plan is not purchased by the plan by the end of the Letter of Intent period, there will be no adjustment of commissions paid to the broker-dealer or financial institution of record for accounts held in the name of that plan. In determining the total amount of purchases made under a Letter, shares redeemed by the investor prior to the termination of the Letter of Intent period will be deducted. It is the responsibility of the dealer of record and/or the investor to advise the Distributor about the Letter in placing any purchase orders for the investor during the Letter of Intent period. All of such purchases must be made through the Distributor. |X| Terms of Escrow That Apply to Letters of Intent. 1. Out of the initial purchase (or subsequent purchases if necessary) made pursuant to a Letter, shares of the Fund equal in value up to 5% of the intended purchase amount specified in the Letter shall be held in escrow by the Transfer Agent. For example, if the intended purchase amount is $50,000, the escrow shall be shares valued in the amount of $2,500 (computed at the offering price adjusted for a $50,000 purchase). Any dividends and capital gains distributions on the escrowed shares will be credited to the investor's account. 2. If the total minimum investment specified under the Letter is completed within the thirteen-month Letter of Intent period, the escrowed shares will be promptly released to the investor. 3. If, at the end of the thirteen-month Letter of Intent period the total purchases pursuant to the Letter are less than the intended purchase amount specified in the Letter, the investor must remit to the Distributor an amount equal to the difference between the dollar amount of sales charges actually paid and the amount of sales charges which would have been paid if the total amount purchased had been made at a single time. That sales charge adjustment will apply to any shares redeemed prior to the completion of the Letter. If the difference in sales charges is not paid within twenty days after a request from the Distributor or the dealer, the Distributor will, within sixty days of the expiration of the Letter, redeem the number of escrowed shares necessary to realize such difference in sales charges. Full and fractional shares remaining after such redemption will be released from escrow. If a request is received to redeem escrowed shares prior to the payment of such additional sales charge, the sales charge will be withheld from the redemption proceeds. 4. By signing the Letter, the investor irrevocably constitutes and appoints the Transfer Agent as attorney-in-fact to surrender for redemption any or all escrowed shares. 5. The shares eligible for purchase under the Letter (or the holding of which may be counted toward completion of a Letter) include: ( a) Class A shares sold with a front-end sales charge or subject to a Class A contingent deferred sales charge, (b) Class B shares of other ▇▇▇▇▇▇▇▇▇▇▇ funds acquired subject to a contingent deferred sales charge, and (c) Class A or Class B shares acquired by exchange of either (1) Class A shares of one of the other ▇▇▇▇▇▇▇▇▇▇▇ funds that were acquired subject to a Class A initial or contingent deferred sales charge or (2) Class B shares of one of the other ▇▇▇▇▇▇▇▇▇▇▇ funds that were acquired subject to a contingent deferred sales charge. 6. Shares held in escrow hereunder will automatically be exchanged for shares of another fund to which an exchange is requested, as described in the section of the Prospectus entitled "How to Exchange Shares" and the escrow will be transferred to that other fund.
Appears in 2 contracts
Sources: Statement of Additional Information (Oppenheimer Quest Capital Value Fund Inc), Statement of Additional Information (Oppenheimer Quest Capital Value Fund Inc)
Right of Accumulation. To qualify for the lower sales charge rates that apply to larger purchases of Class A shares, you and your spouse can add together: o Class A and Class B shares you purchase for your individual accounts (including IRAs and 403(b) plans), or - for your joint accounts, or for trust or custodial accounts on behalf of your children who are minors, and o Current purchases of Class A and Class B shares of the Fund and other ▇▇▇▇▇▇▇▇▇▇▇ funds to reduce the sales charge rate that applies to current purchases of Class A shares, and o Class A and Class B shares of ▇▇▇▇▇▇▇▇▇▇▇ funds you previously purchased subject to an initial or contingent deferred sales charge to reduce the sales charge rate for current purchases of Class A shares, provided that you still hold your investment in one of the ▇▇▇▇▇▇▇▇▇▇▇ funds. A fiduciary can count all shares purchased for a trust, estate or other fiduciary account (including one or more employee benefit plans of the same employer) that has multiple accounts. The Distributor will add the value, at current offering price, of the shares you previously purchased and currently own to the value of current purchases to determine the sales charge rate that applies. The reduced sales charge will apply only to current purchases. You must request it when you buy shares. |X| The ▇▇▇▇▇▇▇▇▇▇▇ Funds. The ▇▇▇▇▇▇▇▇▇▇▇ funds are those mutual funds for which the Distributor acts as the distributor or the sub-distributor and currently include the following: ▇▇▇▇▇▇▇▇▇▇▇ Bond Fund ▇▇▇▇▇▇▇▇▇▇▇ Municipal Bond Fund ▇▇▇▇▇▇▇▇▇▇▇ California Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ New York Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ Capital Appreciation Fund ▇▇▇▇▇▇▇▇▇▇▇ New Jersey Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ Capital Preservation Fund ▇▇▇▇▇▇▇▇▇▇▇ Pennsylvania Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ Capital Income Fund ▇▇▇▇▇▇▇▇▇▇▇ Quest Balanced Value Fund ▇▇▇▇▇▇▇▇▇▇▇ Champion Income Fund ▇▇▇▇▇▇▇▇▇▇▇ Quest Capital Value Fund, Inc. ▇▇▇▇▇▇▇▇▇▇▇ Concentrated Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Quest Global Value Fund, Inc. ▇▇▇▇▇▇▇▇▇▇▇ Convertible Securities Fund ▇▇▇▇▇▇▇▇▇▇▇ Quest Opportunity Value Fund ▇▇▇▇▇▇▇▇▇▇▇ Developing Markets Fund ▇▇▇▇▇▇▇▇▇▇▇ Quest Value Fund, Inc. ▇▇▇▇▇▇▇▇▇▇▇ Disciplined Allocation Fund ▇▇▇▇▇▇▇▇▇▇▇ Real Asset Fund ▇▇▇▇▇▇▇▇▇▇▇ Discovery Fund ▇▇▇▇▇▇▇▇▇▇▇ Rochester National Municipals ▇▇▇▇▇▇▇▇▇▇▇ Emerging Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Senior Floating Rate Fund ▇▇▇▇▇▇▇▇▇▇▇ Emerging Technologies Fund ▇▇▇▇▇▇▇▇▇▇▇ Small Cap Value Fund ▇▇▇▇▇▇▇▇▇▇▇ Enterprise Fund ▇▇▇▇▇▇▇▇▇▇▇ Special Value Fund ▇▇▇▇▇▇▇▇▇▇▇ Europe Fund ▇▇▇▇▇▇▇▇▇▇▇ Strategic Income Fund ▇▇▇▇▇▇▇▇▇▇▇ Global Fund ▇▇▇▇▇▇▇▇▇▇▇ Total Return Fund, Inc. ▇▇▇▇▇▇▇▇▇▇▇ Global Growth & Income Fund ▇▇▇▇▇▇▇▇▇▇▇ Trinity Core Fund ▇▇▇▇▇▇▇▇▇▇▇ Gold & Special Minerals Fund ▇▇▇▇▇▇▇▇▇▇▇ Trinity Large Cap Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Trinity Value Fund ▇▇▇▇▇▇▇▇▇▇▇ High Yield Fund ▇▇▇▇▇▇▇▇▇▇▇ U.S. Government Trust ▇▇▇▇▇▇▇▇▇▇▇ Intermediate Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ Value Fund ▇▇▇▇▇▇▇▇▇▇▇ International Bond Fund Limited-Term New York Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ International Growth Fund Rochester Fund Municipals ▇▇▇▇▇▇▇▇▇▇▇ International Small Company Fund OSM1- Gartmore Millennium Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Limited Term Government Fund OSM1 - ▇▇▇▇▇▇▇▇ Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Main Street Growth & Income Fund OSM1 - Mercury Advisors S&P 500 Index ▇▇▇▇▇▇▇▇▇▇▇ Main Street Opportunity Fund OSM1 - Mercury Advisors Focus Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Main Street Small Cap Fund OSM1 - QM Active Balanced Fund ▇▇▇▇▇▇▇▇▇▇▇ MidCap Fund OSM1 - Salomon Brothers Capital Fund ▇▇▇▇▇▇▇▇▇▇▇ Multiple Strategies Fund and And the following money market funds: Centennial America Fund, L. P. Centennial New York Tax Exempt Trust Centennial California Tax Exempt Trust Centennial Tax Exempt Trust Centennial Government Trust ▇▇▇▇▇▇▇▇▇▇▇ Cash Reserves Centennial Money Market Trust ▇▇▇▇▇▇▇▇▇▇▇ Money Market Fund, Inc. 1 - "OSM" stands for ▇▇▇▇▇▇▇▇▇▇▇ Select Managers There is an initial sales charge on the purchase of Class A shares of each of the ▇▇▇▇▇▇▇▇▇▇▇ funds except the money market funds. Under certain circumstances described in this Statement of Additional Information, redemption proceeds of certain money market fund shares may be subject to a contingent deferred sales charge. |X| Letters of Intent. Under a Letter of Intent, if you purchase Class A shares or Class A and Class B shares of the Fund and other ▇▇▇▇▇▇▇▇▇▇▇ funds during a 13-month period, you can reduce the sales charge rate that applies to your purchases of Class A shares. The total amount of your intended purchases of both Class A and Class B shares will determine the reduced sales charge rate for the Class A shares purchased during that period. You can include purchases made up to 90 days before the date of the Letter. A Letter of Intent is an investor's statement in writing to the Distributor of the intention to purchase Class A shares or Class A and Class B shares of the Fund (and other ▇▇▇▇▇▇▇▇▇▇▇ funds) during a 13-month period (the "Letter of Intent period"). At the investor's request, this may include purchases made up to 90 days prior to the date of the Letter. The Letter states the investor's intention to make the aggregate amount of purchases of shares which, when added to the investor's holdings of shares of those funds, will equal or exceed the amount specified in the Letter. Purchases made by reinvestment of dividends or distributions of capital gains and purchases made at net asset value without sales charge do not count toward satisfying the amount of the Letter. A Letter enables an investor to count the Class A and Class B shares purchased under the Letter to obtain the reduced sales charge rate on purchases of Class A shares of the Fund (and other ▇▇▇▇▇▇▇▇▇▇▇ funds) that applies under the Right of Accumulation to current purchases of Class A shares. Each purchase of Class A shares under the Letter will be made at the offering price (including the sales charge) that applies to a single lump-sum purchase of shares in the amount intended to be purchased under the Letter. In submitting a Letter, the investor makes no commitment to purchase shares. However, if the investor's purchases of shares within the Letter of Intent period, when added to the value (at offering price) of the investor's holdings of shares on the last day of that period, do not equal or exceed the intended purchase amount, the investor agrees to pay the additional amount of sales charge applicable to such purchases. That amount is described in "Terms of Escrow," below (those terms may be amended by the Distributor from time to time). The investor agrees that shares equal in value to 5% of the intended purchase amount will be held in escrow by the Transfer Agent subject to the Terms of Escrow. Also, the investor agrees to be bound by the terms of the Prospectus, this Statement of Additional Information and the Application used for a Letter of Intent. If those terms are amended, as they may be from time to time by the Fund, the investor agrees to be bound by the amended terms and that those amendments will apply automatically to existing Letters of Intent. If the total eligible purchases made during the Letter of Intent period do not equal or exceed the intended purchase amount, the commissions previously paid to the dealer of record for the account and the amount of sales charge retained by the Distributor will be adjusted to the rates applicable to actual total purchases. If total eligible purchases during the Letter of Intent period exceed the intended purchase amount and exceed the amount needed to qualify for the next sales charge rate reduction set forth in the Prospectus, the sales charges paid will be adjusted to the lower rate. That adjustment will be made only if and when the dealer returns to the Distributor the excess of the amount of commissions allowed or paid to the dealer over the amount of commissions that apply to the actual amount of purchases. The excess commissions returned to the Distributor will be used to purchase additional shares for the investor's account at the net asset value per share in effect on the date of such purchase, promptly after the Distributor's receipt thereof. The Transfer Agent will not hold shares in escrow for purchases of shares of the Fund and other ▇▇▇▇▇▇▇▇▇▇▇ funds by OppenheimerFunds prototype 401(k) plans under a Letter of Intent. If the intended purchase amount under a Letter of Intent entered into by an OppenheimerFunds prototype 401(k) plan is not purchased by the plan by the end of the Letter of Intent period, there will be no adjustment of commissions paid to the broker-dealer or financial institution of record for accounts held in the name of that plan. In determining the total amount of purchases made under a Letter, shares redeemed by the investor prior to the termination of the Letter of Intent period will be deducted. It is the responsibility of the dealer of record and/or the investor to advise the Distributor about the Letter in placing any purchase orders for the investor during the Letter of Intent period. All of such purchases must be made through the Distributor. |X| Terms of Escrow That Apply to Letters of Intent.
1. Out of the initial purchase (or subsequent purchases if necessary) made pursuant to a Letter, shares of the Fund equal in value up to 5% of the intended purchase amount specified in the Letter shall be held in escrow by the Transfer Agent. For example, if the intended purchase amount is $50,000, the escrow shall be shares valued in the amount of $2,500 (computed at the offering price adjusted for a $50,000 purchase). Any dividends and capital gains distributions on the escrowed shares will be credited to the investor's account.
2. If the total minimum investment specified under the Letter is completed within the thirteen-month Letter of Intent period, the escrowed shares will be promptly released to the investor.
3. If, at the end of the thirteen-month Letter of Intent period the total purchases pursuant to the Letter are less than the intended purchase amount specified in the Letter, the investor must remit to the Distributor an amount equal to the difference between the dollar amount of sales charges actually paid and the amount of sales charges which would have been paid if the total amount purchased had been made at a single time. That sales charge adjustment will apply to any shares redeemed prior to the completion of the Letter. If the difference in sales charges is not paid within twenty days after a request from the Distributor or the dealer, the Distributor will, within sixty days of the expiration of the Letter, redeem the number of escrowed shares necessary to realize such difference in sales charges. Full and fractional shares remaining after such redemption will be released from escrow. If a request is received to redeem escrowed shares prior to the payment of such additional sales charge, the sales charge will be withheld from the redemption proceeds.
4. By signing the Letter, the investor irrevocably constitutes and appoints the Transfer Agent as attorney-in-fact to surrender for redemption any or all escrowed shares.
5. The shares eligible for purchase under the Letter (or the holding of which may be counted toward completion of a Letter) include: (
a) Class A shares sold with a front-end sales charge or subject to a Class A contingent deferred sales charge, (b) Class B shares of other ▇▇▇▇▇▇▇▇▇▇▇ funds acquired subject to a contingent deferred sales charge, and (c) Class A or Class B shares acquired by exchange of either (1) Class A shares of one of the other ▇▇▇▇▇▇▇▇▇▇▇ funds that were acquired subject to a Class A initial or contingent deferred sales charge or (2) Class B shares of one of the other ▇▇▇▇▇▇▇▇▇▇▇ funds that were acquired subject to a contingent deferred sales charge.
6. Shares held in escrow hereunder will automatically be exchanged for shares of another fund to which an exchange is requested, as described in the section of the Prospectus entitled "How to Exchange Shares" and the escrow will be transferred to that other fund.
Appears in 2 contracts
Sources: Statement of Additional Information (Oppenheimer Quest for Value Funds), Statement of Additional Information (Oppenheimer Quest for Value Funds)
Right of Accumulation. To qualify for the lower sales charge rates that apply to larger purchases of Class A shares, you and your spouse can add together: o Class A and Class B shares you purchase for your individual accounts (including IRAs and 403(b) plans), or ----------- - for your joint accounts, or for trust or custodial accounts on behalf of your children who are minors, and o Current purchases of Class A and Class B shares of the Fund and other ▇▇▇▇▇▇▇▇▇▇▇ funds to reduce the sales charge rate that applies to current purchases of Class A shares, and o Class A and Class B shares of ▇▇▇▇▇▇▇▇▇▇▇ funds you previously purchased subject to an initial or contingent deferred sales charge to reduce the sales charge rate for current purchases of Class A shares, provided that you still hold your investment in one of the ▇▇▇▇▇▇▇▇▇▇▇ funds. A fiduciary can count all shares purchased for a trust, estate or other fiduciary account (including one or more employee benefit plans of the same employer) that has multiple accounts. The Distributor will add the value, at current offering price, of the shares you previously purchased and currently own to the value of current purchases to determine the sales charge rate that applies. The reduced sales charge will apply only to current purchases. You must request it when you buy shares. |X| The ▇▇▇▇▇▇▇▇▇▇▇ Funds. The ▇▇▇▇▇▇▇▇▇▇▇ funds are those mutual funds for which the Distributor acts as the distributor or the sub-distributor and currently include the following: ▇▇▇▇▇▇▇▇▇▇▇ Bond Fund ▇▇▇▇▇▇▇▇▇▇▇ Municipal Bond Fund ▇▇▇▇▇▇▇▇▇▇▇ California Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ New York Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ Capital Appreciation Fund ▇▇▇▇▇▇▇▇▇▇▇ New Jersey Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ Capital Preservation Fund ▇▇▇▇▇▇▇▇▇▇▇ Pennsylvania Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ Capital Income Fund ▇▇▇▇▇▇▇▇▇▇▇ Quest Balanced Value Fund ▇▇▇▇▇▇▇▇▇▇▇ Champion Income Fund ▇▇▇▇▇▇▇▇▇▇▇ Quest Capital Value Fund, Inc. ▇▇▇▇▇▇▇▇▇▇▇ Concentrated Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Quest Global Value Fund, Inc. ▇▇▇▇▇▇▇▇▇▇▇ Convertible Securities Fund ▇▇▇▇▇▇▇▇▇▇▇ Quest Opportunity Value Fund ▇▇▇▇▇▇▇▇▇▇▇ Developing Markets Fund ▇▇▇▇▇▇▇▇▇▇▇ Quest Value Fund, Inc. ▇▇▇▇▇▇▇▇▇▇▇ Disciplined Allocation Fund ▇▇▇▇▇▇▇▇▇▇▇ Real Asset Fund ▇▇▇▇▇▇▇▇▇▇▇ Discovery Fund ▇▇▇▇▇▇▇▇▇▇▇ Rochester National Municipals ▇▇▇▇▇▇▇▇▇▇▇ Emerging Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Senior Floating Rate Fund ▇▇▇▇▇▇▇▇▇▇▇ Emerging Technologies Fund ▇▇▇▇▇▇▇▇▇▇▇ Small Cap Value Fund ▇▇▇▇▇▇▇▇▇▇▇ Enterprise Fund ▇▇▇▇▇▇▇▇▇▇▇ Special Value Fund ▇▇▇▇▇▇▇▇▇▇▇ Europe Fund ▇▇▇▇▇▇▇▇▇▇▇ Strategic Income Fund ▇▇▇▇▇▇▇▇▇▇▇ Global Fund ▇▇▇▇▇▇▇▇▇▇▇ Total Return Fund, Inc. ▇▇▇▇▇▇▇▇▇▇▇ Global Growth & Income Fund ▇▇▇▇▇▇▇▇▇▇▇ Trinity Core Fund ▇▇▇▇▇▇▇▇▇▇▇ Gold & Special Minerals Fund ▇▇▇▇▇▇▇▇▇▇▇ Trinity Large Cap Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Trinity Value Fund ▇▇▇▇▇▇▇▇▇▇▇ High Yield Fund ▇▇▇▇▇▇▇▇▇▇▇ U.S. Government Trust ▇▇▇▇▇▇▇▇▇▇▇ Intermediate Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ Value Fund ▇▇▇▇▇▇▇▇▇▇▇ International Bond Fund Limited-Term New York Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ International Growth Fund Rochester Fund Municipals ▇▇▇▇▇▇▇▇▇▇▇ International Small Company Fund OSM1- Gartmore Millennium Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Limited Term Government Fund OSM1 - ▇▇▇▇▇▇▇▇ Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Main Street Growth & Income Fund OSM1 - Mercury Advisors S&P 500 Index ▇▇▇▇▇▇▇▇▇▇▇ Main Street Opportunity Fund OSM1 - Mercury Advisors Focus Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Main Street Small Cap Fund OSM1 - QM Active Balanced Fund ▇▇▇▇▇▇▇▇▇▇▇ MidCap Fund OSM1 - Salomon Brothers Capital Fund ▇▇▇▇▇▇▇▇▇▇▇ Multiple Strategies Fund and And the following money market funds: Centennial America Fund, L. P. Centennial New York Tax Exempt Trust Centennial California Tax Exempt Trust Centennial Tax Exempt Trust Centennial Government Trust ▇▇▇▇▇▇▇▇▇▇▇ Cash Reserves Centennial Money Market Trust ▇▇▇▇▇▇▇▇▇▇▇ Money Market Fund, Inc. 1 - "OSM" stands for ▇▇▇▇▇▇▇▇▇▇▇ Select Managers There is an initial sales charge on the purchase of Class A shares of each of the ▇▇▇▇▇▇▇▇▇▇▇ funds except the money market funds. Under certain circumstances described in this Statement of Additional Information, redemption proceeds of certain money market fund shares may be subject to a contingent deferred sales charge. |X| Letters of Intent. Under a Letter of Intent, if you purchase Class A shares or Class A and Class B shares of the Fund and other ▇▇▇▇▇▇▇▇▇▇▇ funds during a 13-month period, you can reduce the sales charge rate that applies to your purchases of Class A shares. The total amount of your intended purchases of both Class A and Class B shares will determine the reduced sales charge rate for the Class A shares purchased during that period. You can include purchases made up to 90 days before the date of the Letter. A Letter of Intent is an investor's statement in writing to the Distributor of the intention to purchase Class A shares or Class A and Class B shares of the Fund (and other ▇▇▇▇▇▇▇▇▇▇▇ funds) during a 13-month period (the "Letter of Intent period"). At the investor's request, this may include purchases made up to 90 days prior to the date of the Letter. The Letter states the investor's intention to make the aggregate amount of purchases of shares which, when added to the investor's holdings of shares of those funds, will equal or exceed the amount specified in the Letter. Purchases made by reinvestment of dividends or distributions of capital gains and purchases made at net asset value without sales charge do not count toward satisfying the amount of the Letter. A Letter enables an investor to count the Class A and Class B shares purchased under the Letter to obtain the reduced sales charge rate on purchases of Class A shares of the Fund (and other ▇▇▇▇▇▇▇▇▇▇▇ funds) that applies under the Right of Accumulation to current purchases of Class A shares. Each purchase of Class A shares under the Letter will be made at the offering price (including the sales charge) that applies to a single lump-sum purchase of shares in the amount intended to be purchased under the Letter. In submitting a Letter, the investor makes no commitment to purchase shares. However, if the investor's purchases of shares within the Letter of Intent period, when added to the value (at offering price) of the investor's holdings of shares on the last day of that period, do not equal or exceed the intended purchase amount, the investor agrees to pay the additional amount of sales charge applicable to such purchases. That amount is described in "Terms of Escrow," below (those terms may be amended by the Distributor from time to time). The investor agrees that shares equal in value to 5% of the intended purchase amount will be held in escrow by the Transfer Agent subject to the Terms of Escrow. Also, the investor agrees to be bound by the terms of the Prospectus, this Statement of Additional Information and the Application used for a Letter of Intent. If those terms are amended, as they may be from time to time by the Fund, the investor agrees to be bound by the amended terms and that those amendments will apply automatically to existing Letters of Intent. If the total eligible purchases made during the Letter of Intent period do not equal or exceed the intended purchase amount, the commissions previously paid to the dealer of record for the account and the amount of sales charge retained by the Distributor will be adjusted to the rates applicable to actual total purchases. If total eligible purchases during the Letter of Intent period exceed the intended purchase amount and exceed the amount needed to qualify for the next sales charge rate reduction set forth in the Prospectus, the sales charges paid will be adjusted to the lower rate. That adjustment will be made only if and when the dealer returns to the Distributor the excess of the amount of commissions allowed or paid to the dealer over the amount of commissions that apply to the actual amount of purchases. The excess commissions returned to the Distributor will be used to purchase additional shares for the investor's account at the net asset value per share in effect on the date of such purchase, promptly after the Distributor's receipt thereof. The Transfer Agent will not hold shares in escrow for purchases of shares of the Fund and other ▇▇▇▇▇▇▇▇▇▇▇ funds by OppenheimerFunds prototype 401(k) plans under a Letter of Intent. If the intended purchase amount under a Letter of Intent entered into by an OppenheimerFunds prototype 401(k) plan is not purchased by the plan by the end of the Letter of Intent period, there will be no adjustment of commissions paid to the broker-dealer or financial institution of record for accounts held in the name of that plan. In determining the total amount of purchases made under a Letter, shares redeemed by the investor prior to the termination of the Letter of Intent period will be deducted. It is the responsibility of the dealer of record and/or the investor to advise the Distributor about the Letter in placing any purchase orders for the investor during the Letter of Intent period. All of such purchases must be made through the Distributor. |X| |_| Terms of Escrow That Apply to Letters of Intent.
1. Out of the initial purchase (or subsequent purchases if necessary) made pursuant to a Letter, shares of the Fund equal in value up to 5% of the intended purchase amount specified in the Letter shall be held in escrow by the Transfer Agent. For example, if the intended purchase amount is $50,000, the escrow shall be shares valued in the amount of $2,500 (computed at the offering price adjusted for a $50,000 purchase). Any dividends and capital gains distributions on the escrowed shares will be credited to the investor's account.
2. If the total minimum investment specified under the Letter is completed within the thirteen-month Letter of Intent period, the escrowed shares will be promptly released to the investor.
3. If, at the end of the thirteen-month Letter of Intent period the total purchases pursuant to the Letter are less than the intended purchase amount specified in the Letter, the investor must remit to the Distributor an amount equal to the difference between the dollar amount of sales charges actually paid and the amount of sales charges which would have been paid if the total amount purchased had been made at a single time. That sales charge adjustment will apply to any shares redeemed prior to the completion of the Letter. If the difference in sales charges is not paid within twenty days after a request from the Distributor or the dealer, the Distributor will, within sixty days of the expiration of the Letter, redeem the number of escrowed shares necessary to realize such difference in sales charges. Full and fractional shares remaining after such redemption will be released from escrow. If a request is received to redeem escrowed shares prior to the payment of such additional sales charge, the sales charge will be withheld from the redemption proceeds.
4. By signing the Letter, the investor irrevocably constitutes and appoints the Transfer Agent as attorney-in-fact to surrender for redemption any or all escrowed shares.
51. The shares eligible for purchase under the Letter (or the holding of which may be counted toward completion of a Letter) include: (
a) Class A shares sold with a front-end sales charge or subject to a Class A contingent deferred sales charge, (b) Class B shares of other ▇▇▇▇▇▇▇▇▇▇▇ funds acquired subject to a contingent deferred sales charge, and (c) Class A or Class B shares acquired by exchange of either (1) Class A shares of one of the other ▇▇▇▇▇▇▇▇▇▇▇ funds that were acquired subject to a Class A initial or contingent deferred sales charge or (2) Class B shares of one of the other ▇▇▇▇▇▇▇▇▇▇▇ funds that were acquired subject to a contingent deferred sales charge.
6. Shares held in escrow hereunder will automatically be exchanged for shares of another fund to which an exchange is requested, as described in the section of the Prospectus entitled "How to Exchange Shares" and the escrow will be transferred to that other fund.
Appears in 1 contract
Sources: Statement of Additional Information (Oppenheimer Quest Value Fund Inc)
Right of Accumulation. To qualify for the lower sales charge rates that apply to larger purchases of Class A shares, you and your spouse can add together: o |_| Class A and Class B shares you purchase for your individual accounts accounts, (including IRAs and 403(b) plans), ) or for your joint accounts, or for trust or custodial accounts on behalf of your children who are minors, and o |_| Current purchases of Class A and Class B shares of the Fund and other ▇▇▇▇▇▇▇▇▇▇▇ funds to reduce the sales charge rate that applies to current purchases of Class A shares, and o |_| Class A and Class B shares of ▇▇▇▇▇▇▇▇▇▇▇ funds you previously purchased subject to an initial or contingent deferred sales charge to reduce the sales charge rate for current purchases of Class A shares, provided that you still hold your investment in one of the ▇▇▇▇▇▇▇▇▇▇▇ funds. A fiduciary can count all shares purchased for a trust, estate or other fiduciary account (including one or more employee benefit plans of the same employer) that has multiple accounts. The Distributor will add the value, at current offering price, of the shares you previously purchased and currently own to the value of current purchases to determine the sales charge rate that applies. The reduced sales charge will apply only to current purchases. You must request it when you buy shares. |X| The ▇▇▇▇▇▇▇▇▇▇▇ Funds. The ▇▇▇▇▇▇▇▇▇▇▇ funds are those mutual funds for which the Distributor acts as the distributor or the sub-distributor and currently include the following: ▇▇▇▇▇▇▇▇▇▇▇ Bond Fund ▇▇▇▇▇▇▇▇▇▇▇ Municipal Bond Fund ▇▇▇▇▇▇▇▇▇▇▇ California Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ New York Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ Capital Appreciation Fund ▇▇▇▇▇▇▇▇▇▇▇ New Jersey Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ Capital Preservation Fund ▇▇▇▇▇▇▇▇▇▇▇ Pennsylvania Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ Capital Income Fund ▇▇▇▇▇▇▇▇▇▇▇ Quest Balanced Value Fund ▇▇▇▇▇▇▇▇▇▇▇ Champion Income Fund ▇▇▇▇▇▇▇▇▇▇▇ Quest Capital Value Fund, Inc. ▇▇▇▇▇▇▇▇▇▇▇ Concentrated Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Quest Global Value Fund, Inc. ▇▇▇▇▇▇▇▇▇▇▇ Convertible Securities Fund ▇▇▇▇▇▇▇▇▇▇▇ Quest Opportunity Value Fund ▇▇▇▇▇▇▇▇▇▇▇ Developing Markets Fund ▇▇▇▇▇▇▇▇▇▇▇ Quest Value Fund, Inc. ▇▇▇▇▇▇▇▇▇▇▇ Disciplined Allocation Fund ▇▇▇▇▇▇▇▇▇▇▇ Real Asset Fund ▇▇▇▇▇▇▇▇▇▇▇ Discovery Fund ▇▇▇▇▇▇▇▇▇▇▇ Rochester National Municipals ▇▇▇▇▇▇▇▇▇▇▇ Emerging Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Senior Floating Rate Fund ▇▇▇▇▇▇▇▇▇▇▇ Emerging Technologies Fund ▇▇▇▇▇▇▇▇▇▇▇ Small Cap Value Fund ▇▇▇▇▇▇▇▇▇▇▇ Enterprise Fund ▇▇▇▇▇▇▇▇▇▇▇ Special Value Fund ▇▇▇▇▇▇▇▇▇▇▇ Europe Fund ▇▇▇▇▇▇▇▇▇▇▇ Strategic Income Fund ▇▇▇▇▇▇▇▇▇▇▇ Global Fund ▇▇▇▇▇▇▇▇▇▇▇ Total Return Fund, Inc. ▇▇▇▇▇▇▇▇▇▇▇ Global Growth & Income Fund ▇▇▇▇▇▇▇▇▇▇▇ Trinity Core Fund ▇▇▇▇▇▇▇▇▇▇▇ Gold & Special Minerals Fund ▇▇▇▇▇▇▇▇▇▇▇ Trinity Large Cap Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Trinity Value Fund ▇▇▇▇▇▇▇▇▇▇▇ High Yield Fund ▇▇▇▇▇▇▇▇▇▇▇ U.S. Government Trust ▇▇▇▇▇▇▇▇▇▇▇ Intermediate Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ Value Fund ▇▇▇▇▇▇▇▇▇▇▇ International Bond Fund Limited-Term New York Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ International Growth Fund Rochester Fund Municipals ▇▇▇▇▇▇▇▇▇▇▇ International Small Company Fund OSM1- Gartmore Millennium Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Limited Limited-Term Government Fund OSM1 - ▇▇▇▇▇▇▇▇ Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Main Street Growth & Income Fund OSM1 - Mercury Advisors S&P 500 Index ▇▇▇▇▇▇▇▇▇▇▇ Main Street Opportunity Fund OSM1 - Mercury Advisors Focus Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Main Street Small Cap Fund OSM1 - QM Active Balanced Fund ▇▇▇▇▇▇▇▇▇▇▇ MidCap Fund OSM1 - Salomon Brothers Capital Fund ▇▇▇▇▇▇▇▇▇▇▇ Multiple Strategies Fund and the following money market funds: Centennial America Fund, L. P. Centennial New York Tax Exempt Trust Centennial California Tax Exempt Trust Centennial Tax Exempt Trust Centennial Government Trust ▇▇▇▇▇▇▇▇▇▇▇ Cash Reserves Centennial Money Market Trust ▇▇▇▇▇▇▇▇▇▇▇ Money Market Fund, Inc. 1 - "OSM" stands for is ▇▇▇▇▇▇▇▇▇▇▇ Select Managers There is an initial sales charge on the purchase of Class A shares of each of the ▇▇▇▇▇▇▇▇▇▇▇ funds except the money market funds. Under certain circumstances described in this Statement of Additional Information, redemption proceeds of certain money market fund shares may be subject to a contingent deferred sales charge. |X| Letters of Intent. Under a Letter of Intent, if you purchase Class A shares or Class A and Class B shares of the Fund and other ▇▇▇▇▇▇▇▇▇▇▇ funds during a thirteen (13-) month period, you can reduce the sales charge rate that applies to your purchases of Class A shares. The total amount of your intended purchases of both Class A and Class B shares will determine the reduced sales charge rate for the Class A shares purchased during that period. You can include purchases made up to 90 ninety (90) days before the date of the Letter. A Letter of Intent is an investor's statement in writing to the Distributor of the intention to purchase Class A shares or Class A and Class B shares of the Fund (and other ▇▇▇▇▇▇▇▇▇▇▇ funds) during a thirteen (13-) month period (the "Letter of Intent period"). At the investor's request, this may include purchases made up to 90 ninety (90) days prior to the date of the Letter. The Letter states the investor's intention to make the aggregate amount of purchases of shares which, when added to the investor's holdings of shares of those funds, will equal or exceed the amount specified in the Letter. Purchases made by reinvestment of dividends or distributions of capital gains and purchases made at net asset value without sales charge do not count toward satisfying the amount of the Letter. A Letter enables an investor to count the Class A and Class B shares purchased under the Letter to obtain the reduced sales charge rate on purchases of Class A shares of the Fund (and other ▇▇▇▇▇▇▇▇▇▇▇ funds) that applies under the Right of Accumulation to current purchases of Class A shares. Each purchase of Class A shares under the Letter will be made at the public offering price (including the sales charge) that applies to a single lump-sum purchase of shares in the amount intended to be purchased under the Letter. In submitting a Letter, the investor makes no commitment to purchase shares. However, if the investor's purchases of shares within the Letter of Intent period, when added to the value (at offering price) of the investor's holdings of shares on the last day of that period, do not equal or exceed the intended purchase amount, the investor agrees to pay the additional amount of sales charge applicable to such purchases. That amount is described in "Terms of Escrow," below (those terms may be amended by the Distributor from time to time). The investor agrees that shares equal in value to 5% of the intended purchase amount will be held in escrow by the Transfer Agent subject to the Terms of Escrow. Also, the investor agrees to be bound by the terms of the Prospectus, this Statement of Additional Information and the Application used for a Letter of Intent. If those terms are amended, as they may be from time to time by the Fund, the investor agrees to be bound by the amended terms and that those amendments will apply automatically to existing Letters of Intent. If the total eligible purchases made during the Letter of Intent period do not equal or exceed the intended purchase amount, the commissions concessions previously paid to the dealer of record for the account and the amount of sales charge retained by the Distributor will be adjusted to the rates applicable to actual total purchases. If total eligible purchases during the Letter of Intent period exceed the intended purchase amount and exceed the amount needed to qualify for the next sales charge rate reduction set forth in the Prospectus, the sales charges paid will be adjusted to the lower rate. That adjustment will be made only if and when the dealer returns to the Distributor the excess of the amount of commissions concessions allowed or paid to the dealer over the amount of commissions concessions that apply to the actual amount of purchases. The excess commissions concessions returned to the Distributor will be used to purchase additional shares for the investor's account at the net asset value per share in effect on the date of such purchase, promptly after the Distributor's receipt thereof. The Transfer Agent will not hold shares in escrow for purchases of shares of the Fund and other ▇▇▇▇▇▇▇▇▇▇▇ funds by OppenheimerFunds prototype 401(k) plans under a Letter of Intent. If the intended purchase amount under a Letter of Intent entered into by an OppenheimerFunds prototype 401(k) plan is not purchased by the plan by the end of the Letter of Intent period, there will be no adjustment of commissions paid to the broker-dealer or financial institution of record for accounts held in the name of that plan. In determining the total amount of purchases made under a Letter, shares redeemed by the investor prior to the termination of the Letter of Intent period will be deducted. It is the responsibility of the dealer of record and/or the investor to advise the Distributor about the Letter in placing any purchase orders for the investor during the Letter of Intent period. All of such purchases must be made through the Distributor. |X| Terms of Escrow That Apply to Letters of Intent.
. 1. Out of the initial purchase (or subsequent purchases if necessary) made pursuant to a Letter, shares of the Fund equal in value up to 5% of the intended purchase amount specified in the Letter shall be held in escrow by the Transfer Agent. For example, if the intended purchase amount is $50,000, the escrow shall be shares valued in the amount of $2,500 (computed at the offering price adjusted for a $50,000 purchase). Any dividends and capital gains distributions on the escrowed shares will be credited to the investor's account.
. 2. If the total minimum investment specified under the Letter is completed within the thirteen-thirteen (13) month Letter of Intent period, the escrowed shares will be promptly released to the investor.
. 3. If, at the end of the thirteen-thirteen (13) month Letter of Intent period the total purchases pursuant to the Letter are less than the intended purchase amount specified in the Letter, the investor must remit to the Distributor an amount equal to the difference between the dollar amount of sales charges actually paid and the amount of sales charges which would have been paid if the total amount purchased had been made at a single time. That sales charge adjustment will apply to any shares redeemed prior to the completion of the Letter. If the difference in sales charges is not paid within twenty days after a request from the Distributor or the dealer, the Distributor will, within sixty (60) days of the expiration of the Letter, redeem the number of escrowed shares necessary to realize such difference in sales charges. Full and fractional shares remaining after such redemption will be released from escrow. If a request is received to redeem escrowed shares prior to the payment of such additional sales charge, the sales charge will be withheld from the redemption proceeds.
4. By signing the Letter, the investor irrevocably constitutes and appoints the Transfer Agent as attorney-in-fact to surrender for redemption any or all escrowed shares.
5. The shares eligible for purchase under the Letter (or the holding of which may be counted toward completion of a Letter) include: (
a) Class A shares sold with a front-end sales charge or subject to a Class A contingent deferred sales charge, (b) Class B shares of other ▇▇▇▇▇▇▇▇▇▇▇ funds acquired subject to a contingent deferred sales charge, and (c) Class A or Class B shares acquired by exchange of either (1) Class A shares of one of the other ▇▇▇▇▇▇▇▇▇▇▇ funds that were acquired subject to a Class A initial or contingent deferred sales charge or (2) Class B shares of one of the other ▇▇▇▇▇▇▇▇▇▇▇ funds that were acquired subject to a contingent deferred sales charge.
6. Shares held in escrow hereunder will automatically be exchanged for shares of another fund to which an exchange is requested, as described in the section of the Prospectus entitled "How to Exchange Shares" and the escrow will be transferred to that other fund.
Appears in 1 contract
Sources: Statement of Additional Information (Oppenheimer Multi-State Municipal Trust)
Right of Accumulation. To qualify for the lower sales charge rates that apply to larger purchases of Class A shares, you and your spouse can add together: o Class A and Class B shares you purchase for your individual accounts (including IRAs and 403(b) plans), or for your joint accounts, or for trust or custodial accounts on behalf of your children who are minors, and o Current purchases of Class A and Class B shares of the Fund and other ▇▇▇▇▇▇▇▇▇▇▇ funds to reduce the sales charge rate that applies to current purchases of Class A shares, and o Class A and Class B shares of ▇▇▇▇▇▇▇▇▇▇▇ funds you previously purchased subject to an initial or contingent deferred sales charge to reduce the sales charge rate for current purchases of Class A shares, provided that you still hold your investment in one of the ▇▇▇▇▇▇▇▇▇▇▇ funds. A fiduciary can count all shares purchased for a trust, estate or other fiduciary account (including one or more employee benefit plans of the same employer) that has multiple accounts. The Distributor will add the value, at current offering price, of the shares you previously purchased and currently own to the value of current purchases to determine the sales charge rate that applies. The reduced sales charge will apply only to current purchases. You must request it when you buy shares. |X| The ▇▇▇▇▇▇▇▇▇▇▇ Funds. The ▇▇▇▇▇▇▇▇▇▇▇ funds are those mutual funds for which the Distributor acts as the distributor or the sub-distributor and currently include the following: ▇▇▇▇▇▇▇▇▇▇▇ Bond Fund ▇▇▇▇▇▇▇▇▇▇▇ Municipal Bond Fund ▇▇▇▇▇▇▇▇▇▇▇ California Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ New York Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ Capital Appreciation Fund ▇▇▇▇▇▇▇▇▇▇▇ New Jersey Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ Capital Preservation Fund ▇▇▇▇▇▇▇▇▇▇▇ Pennsylvania Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ Capital Income Fund ▇▇▇▇▇▇▇▇▇▇▇ Quest Balanced Value Fund ▇▇▇▇▇▇▇▇▇▇▇ Champion Income Fund ▇▇▇▇▇▇▇▇▇▇▇ Quest Capital Value Fund, Inc. ▇▇▇▇▇▇▇▇▇▇▇ Concentrated Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Quest Global Value Fund, Inc. ▇▇▇▇▇▇▇▇▇▇▇ Convertible Securities Fund ▇▇▇▇▇▇▇▇▇▇▇ Quest Opportunity Value Fund ▇▇▇▇▇▇▇▇▇▇▇ Developing Markets Fund ▇▇▇▇▇▇▇▇▇▇▇ Quest Value Fund, Inc. ▇▇▇▇▇▇▇▇▇▇▇ Disciplined Allocation Fund ▇▇▇▇▇▇▇▇▇▇▇ Real Asset Fund ▇▇▇▇▇▇▇▇▇▇▇ Discovery Fund ▇▇▇▇▇▇▇▇▇▇▇ Real Estate Fund ▇▇▇▇▇▇▇▇▇▇▇ Emerging Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Rochester National Municipals ▇▇▇▇▇▇▇▇▇▇▇ Emerging Growth Technologies Fund ▇▇▇▇▇▇▇▇▇▇▇ Senior Floating Rate Fund ▇▇▇▇▇▇▇▇▇▇▇ Emerging Technologies Enterprise Fund ▇▇▇▇▇▇▇▇▇▇▇ Small Cap Value Fund ▇▇▇▇▇▇▇▇▇▇▇ Enterprise Europe Fund ▇▇▇▇▇▇▇▇▇▇▇ Special Value Fund ▇▇▇▇▇▇▇▇▇▇▇ Europe Global Fund ▇▇▇▇▇▇▇▇▇▇▇ Strategic Income Fund ▇▇▇▇▇▇▇▇▇▇▇ Global Growth & Income Fund ▇▇▇▇▇▇▇▇▇▇▇ Total Return Fund, Inc. ▇▇▇▇▇▇▇▇▇▇▇ Global Growth Gold & Income Special Minerals Fund ▇▇▇▇▇▇▇▇▇▇▇ Trinity Core Fund ▇▇▇▇▇▇▇▇▇▇▇ Gold & Special Minerals Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Trinity Large Cap Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Growth High Yield Fund ▇▇▇▇▇▇▇▇▇▇▇ Trinity Value Fund ▇▇▇▇▇▇▇▇▇▇▇ High Yield Intermediate Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ U.S. Government Trust ▇▇▇▇▇▇▇▇▇▇▇ Intermediate Municipal International Bond Fund ▇▇▇▇▇▇▇▇▇▇▇ Value Fund ▇▇▇▇▇▇▇▇▇▇▇ International Bond Growth Fund Limited-Term New York Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ International Growth Small Company Fund Rochester Fund Municipals ▇▇▇▇▇▇▇▇▇▇▇ International Small Company Limited-Term Government Fund OSM1- Gartmore Millennium Growth Fund II ▇▇▇▇▇▇▇▇▇▇▇ Limited Term Government Main Street Growth & Income Fund OSM1 - ▇▇▇▇▇▇▇▇ Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Main Street Growth & Income Opportunity Fund OSM1 - Mercury Advisors S&P 500 Index ▇▇▇▇▇▇▇▇▇▇▇ Main Street Opportunity Small Cap Fund OSM1 - Mercury Advisors Focus Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Main Street Small Cap ▇▇▇▇▇▇ Fund OSM1 - QM Active Balanced Fund ▇▇▇▇▇▇▇▇▇▇▇ MidCap Multiple Strategies Fund OSM1 - Salomon Brothers Capital Fund ▇▇▇▇▇▇▇▇▇▇▇ Multiple Strategies Fund and And the following money market funds: Centennial America Fund, L. P. Centennial New York Tax Exempt Trust Centennial California Tax Exempt Trust Centennial Tax Exempt Trust Centennial Government Trust ▇▇▇▇▇▇▇▇▇▇▇ Cash Reserves Centennial Money Market Trust ▇▇▇▇▇▇▇▇▇▇▇ Money Market Fund, Inc. 1 - "OSM" stands for ▇▇▇▇▇▇▇▇▇▇▇ Select Managers There is an initial sales charge on the purchase of Class A shares of each of the ▇▇▇▇▇▇▇▇▇▇▇ funds except the money market funds. Under certain circumstances described in this Statement of Additional Information, redemption proceeds of certain money market fund shares may be subject to a contingent deferred sales charge. |X| Letters of Intent. Under a Letter of Intent, if you purchase Class A shares or Class A and Class B shares of the Fund and other ▇▇▇▇▇▇▇▇▇▇▇ funds during a 13-13 month period, you can reduce the sales charge rate that applies to your purchases of Class A shares. The total amount of your intended purchases of both Class A and Class B shares will determine the reduced sales charge rate for the Class A shares purchased during that period. You can include purchases made up to 90 days before the date of the Letter. A Letter of Intent is an investor's statement in writing to the Distributor of the intention to purchase Class A shares or Class A and Class B shares of the Fund (and other ▇▇▇▇▇▇▇▇▇▇▇ funds) during a 13-13 month period (the "Letter of Intent period"). At the investor's request, this may include purchases made up to 90 days prior to the date of the Letter. The Letter states the investor's intention to make the aggregate amount of purchases of shares which, when added to the investor's holdings of shares of those funds, will equal or exceed the amount specified in the Letter. Purchases made by reinvestment of dividends or distributions of capital gains and purchases made at net asset value without sales charge do not count toward satisfying the amount of the Letter. A Letter enables an investor to count the Class A and Class B shares purchased under the Letter to obtain the reduced sales charge rate on purchases of Class A shares of the Fund (and other ▇▇▇▇▇▇▇▇▇▇▇ funds) that applies under the Right of Accumulation to current purchases of Class A shares. Each purchase of Class A shares under the Letter will be made at the offering price (including the sales charge) that applies to a single lump-sum purchase of shares in the amount intended to be purchased under the Letter. In submitting a Letter, the investor makes no commitment to purchase shares. However, if the investor's purchases of shares within the Letter of Intent period, when added to the value (at offering price) of the investor's holdings of shares on the last day of that period, do not equal or exceed the intended purchase amount, the investor agrees to pay the additional amount of sales charge applicable to such purchases. That amount is described in "Terms of Escrow," below (those terms may be amended by the Distributor from time to time). The investor agrees that shares equal in value to 5% of the intended purchase amount will be held in escrow by the Transfer Agent subject to the Terms of Escrow. Also, the investor agrees to be bound by the terms of the Prospectus, this Statement of Additional Information and the Application used for a Letter of Intent. If those terms are amended, as they may be from time to time by the Fund, the investor agrees to be bound by the amended terms and that those amendments will apply automatically to existing Letters of Intent. If the total eligible purchases made during the Letter of Intent period do not equal or exceed the intended purchase amount, the commissions concessions previously paid to the dealer of record for the account and the amount of sales charge retained by the Distributor will be adjusted to the rates applicable to actual total purchases. If total eligible purchases during the Letter of Intent period exceed the intended purchase amount and exceed the amount needed to qualify for the next sales charge rate reduction set forth in the Prospectus, the sales charges paid will be adjusted to the lower rate. That adjustment will be made only if and when the dealer returns to the Distributor the excess of the amount of commissions concessions allowed or paid to the dealer over the amount of commissions concessions that apply to the actual amount of purchases. The excess commissions concessions returned to the Distributor will be used to purchase additional shares for the investor's account at the net asset value per share in effect on the date of such purchase, promptly after the Distributor's receipt thereof. The Transfer Agent will not hold shares in escrow for purchases of shares of the Fund and other ▇▇▇▇▇▇▇▇▇▇▇ funds by OppenheimerFunds prototype 401(k) plans under a Letter of Intent. If the intended purchase amount under a Letter of Intent entered into by an OppenheimerFunds prototype 401(k) plan is not purchased by the plan by the end of the Letter of Intent period, there will be no adjustment of commissions concessions paid to the broker-dealer or financial institution of record for accounts held in the name of that plan. In determining the total amount of purchases made under a Letter, shares redeemed by the investor prior to the termination of the Letter of Intent period will be deducted. It is the responsibility of the dealer of record and/or the investor to advise the Distributor about the Letter in placing any purchase orders for the investor during the Letter of Intent period. All of such purchases must be made through the Distributor. |X| Terms of Escrow That Apply to Letters of Intent.
1. Out of the initial purchase (or subsequent purchases if necessary) made pursuant to a Letter, shares of the Fund equal in value up to 5% of the intended purchase amount specified in the Letter shall be held in escrow by the Transfer Agent. For example, if the intended purchase amount is $50,000, the escrow shall be shares valued in the amount of $2,500 (computed at the offering price adjusted for a $50,000 purchase). Any dividends and capital gains distributions on the escrowed shares will be credited to the investor's account.
2. If the total minimum investment specified under the Letter is completed within the thirteen13-month Letter of Intent period, the escrowed shares will be promptly released to the investor.
3. If, at the end of the thirteen-13 month Letter of Intent period the total purchases pursuant to the Letter are less than the intended purchase amount specified in the Letter, the investor must remit to the Distributor an amount equal to the difference between the dollar amount of sales charges actually paid and the amount of sales charges which would have been paid if the total amount purchased had been made at a single time. That sales charge adjustment will apply to any shares redeemed prior to the completion of the Letter. If the difference in sales charges is not paid within twenty 20 days after a request from the Distributor or the dealer, the Distributor will, within sixty 60 days of the expiration of the Letter, redeem the number of escrowed shares necessary to realize such difference in sales charges. Full and fractional shares remaining after such redemption will be released from escrow. If a request is received to redeem escrowed shares prior to the payment of such additional sales charge, the sales charge will be withheld from the redemption proceeds.
4. By signing the Letter, the investor irrevocably constitutes and appoints the Transfer Agent as attorney-in-fact to surrender for redemption any or all escrowed shares.
5. The shares eligible for purchase under the Letter (or the holding of which may be counted toward completion of a Letter) include: :
(
a) Class A shares sold with a front-end sales charge or subject to a Class A contingent deferred sales charge, (b) Class B shares of other ▇▇▇▇▇▇▇▇▇▇▇ funds acquired subject to a contingent deferred sales charge, and (c) Class A or Class B shares acquired by exchange of either (1) Class A shares of one of the other ▇▇▇▇▇▇▇▇▇▇▇ funds that were acquired subject to a Class A initial or contingent deferred sales charge or (2) Class B shares of one of the other ▇▇▇▇▇▇▇▇▇▇▇ funds that were acquired subject to a contingent deferred sales charge.
6. Shares held in escrow hereunder will automatically be exchanged for shares of another fund to which an exchange is requested, as described in the section of the Prospectus entitled "How to Exchange Shares" and the escrow will be transferred to that other fund.
Appears in 1 contract
Sources: Statement of Additional Information (Oppenheimer Real Estate Fund)
Right of Accumulation. To qualify for the lower sales charge rates that apply to larger purchases of Class A shares, you and your spouse can add together: o ? Class A and Class B shares you purchase for your individual accounts accounts, (including IRAs and 403(b) plans), ) or for your joint accounts, or for trust or custodial accounts on behalf of your children who are minors, and o Current ? current purchases of Class A and Class B shares of the Fund and other ▇▇▇▇▇▇▇▇▇▇▇ funds to reduce the sales charge rate that applies to current purchases of Class A shares, and o |_| Class A and Class B shares of ▇▇▇▇▇▇▇▇▇▇▇ funds you previously purchased subject to an initial or contingent deferred sales charge to reduce the sales charge rate for current purchases of Class A shares, provided that you still hold your investment in one of the ▇▇▇▇▇▇▇▇▇▇▇ funds. A fiduciary can count all shares purchased for a trust, estate or other fiduciary account (including one or more employee benefit plans of the same employer) that has multiple accounts. The Distributor will add the value, at current offering price, of the shares you previously purchased and currently own to the value of current purchases to determine the sales charge rate that applies. The reduced sales charge will apply only to current purchases. You must request it when you buy shares. |X| ? The ▇▇▇▇▇▇▇▇▇▇▇ Funds. The ▇▇▇▇▇▇▇▇▇▇▇ funds are those mutual funds for which the Distributor acts as the distributor or the sub-distributor and currently include the following: ▇▇▇▇▇▇▇▇▇▇▇ Bond Fund ▇▇▇▇▇▇▇▇▇▇▇ Municipal Bond Fund ▇▇▇▇▇▇▇▇▇▇▇ California Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ New York Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ Capital Appreciation Fund ▇▇▇▇▇▇▇▇▇▇▇ New Jersey Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ Capital Preservation Fund ▇▇▇▇▇▇▇▇▇▇▇ Pennsylvania Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ Capital Income Fund ▇▇▇▇▇▇▇▇▇▇▇ Quest Balanced Value Fund ▇▇▇▇▇▇▇▇▇▇▇ Champion Income Fund ▇▇▇▇▇▇▇▇▇▇▇ Quest Capital Value Fund, Inc. ▇▇▇▇▇▇▇▇▇▇▇ Concentrated Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Quest Global Value Fund, Inc. ▇▇▇▇▇▇▇▇▇▇▇ Convertible Securities Fund ▇▇▇▇▇▇▇▇▇▇▇ Quest Opportunity Value Fund ▇▇▇▇▇▇▇▇▇▇▇ Developing Markets Fund ▇▇▇▇▇▇▇▇▇▇▇ Quest Value Fund, Inc. ▇▇▇▇▇▇▇▇▇▇▇ Disciplined Allocation Fund ▇▇▇▇▇▇▇▇▇▇▇ Real Asset Fund ▇▇▇▇▇▇▇▇▇▇▇ Discovery Fund ▇▇▇▇▇▇▇▇▇▇▇ Rochester National Municipals Fund ▇▇▇▇▇▇▇▇▇▇▇ Emerging Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Senior Floating Rate Fund ▇▇▇▇▇▇▇▇▇▇▇ Emerging Technologies Fund ▇▇▇▇▇▇▇▇▇▇▇ Small Cap Value Fund ▇▇▇▇▇▇▇▇▇▇▇ Enterprise Fund ▇▇▇▇▇▇▇▇▇▇▇ Special Value Fund ▇▇▇▇▇▇▇▇▇▇▇ Europe Fund ▇▇▇▇▇▇▇▇▇▇▇ Strategic Income Fund ▇▇▇▇▇▇▇▇▇▇▇ Global Fund ▇▇▇▇▇▇▇▇▇▇▇ Total Return Fund, Inc. ▇▇▇▇▇▇▇▇▇▇▇ Global Growth & Income Fund ▇▇▇▇▇▇▇▇▇▇▇ Trinity Core Fund ▇▇▇▇▇▇▇▇▇▇▇ Gold & Special Minerals Fund ▇▇▇▇▇▇▇▇▇▇▇ Trinity Large Cap Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Trinity Value Fund ▇▇▇▇▇▇▇▇▇▇▇ High Yield Fund ▇▇▇▇▇▇▇▇▇▇▇ U.S. Government Trust ▇▇▇▇▇▇▇▇▇▇▇ Intermediate Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ Value Fund ▇▇▇▇▇▇▇▇▇▇▇ International Bond Fund Limited-Term New York Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ International Growth Fund Rochester Fund Municipals ▇▇▇▇▇▇▇▇▇▇▇ International Small Company Fund OSM1- Gartmore Millennium Growth Fund II ▇▇▇▇▇▇▇▇▇▇▇ Limited Limited-Term Government Fund OSM1 - ▇▇▇▇▇▇▇▇ Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Main Street Growth & Income Fund OSM1 - Mercury Advisors S&P 500 Index ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇ Main ▇▇▇▇ Street Opportunity Fund OSM1 - Mercury Advisors Focus Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Main Street Small Cap Fund OSM1 - QM Active Balanced Fund ▇▇▇▇▇▇▇▇▇▇▇ MidCap ▇▇▇▇▇▇ Fund OSM1 - Salomon Brothers Capital Fund ▇▇▇▇▇▇▇▇▇▇▇ Multiple Strategies Fund and the following money market funds: Centennial America Fund, L. P. Centennial New York Tax Exempt Trust Centennial California Tax Exempt Trust Centennial Tax Exempt Trust Centennial Government Trust ▇▇▇▇▇▇▇▇▇▇▇ Cash Reserves Centennial Money Market Trust ▇▇▇▇▇▇▇▇▇▇▇ Money Market Fund, Inc. 1 - "OSM" stands for ▇▇▇▇▇▇▇▇▇▇▇ Select Managers There is an initial sales charge on the purchase of Class A shares of each of the ▇▇▇▇▇▇▇▇▇▇▇ funds except the money market funds. Under certain circumstances described in this Statement of Additional Information, redemption proceeds of certain money market fund shares may be subject to a contingent deferred sales charge. |X| Letters of Intent. Under a Letter of Intent, if you purchase Class A shares or Class A and Class B shares of the Fund and other ▇▇▇▇▇▇▇▇▇▇▇ funds during a thirteen (13-) month period, you can reduce the sales charge rate that applies to your purchases of Class A shares. The total amount of your intended purchases of both Class A and Class B shares will determine the reduced sales charge rate for the Class A shares purchased during that period. You can include purchases made up to 90 ninety (90) days before the date of the Letter. A Letter of Intent is an investor's statement in writing to the Distributor of the intention to purchase Class A shares or Class A and Class B shares of the Fund (and other ▇▇▇▇▇▇▇▇▇▇▇ funds) during a thirteen (13-) month period (the "Letter of Intent period"). At the investor's request, this may include purchases made up to 90 ninety (90) days prior to the date of the Letter. The Letter states the investor's intention to make the aggregate amount of purchases of shares which, when added to the investor's holdings of shares of those funds, will equal or exceed the amount specified in the Letter. Purchases made by reinvestment of dividends or distributions of capital gains and purchases made at net asset value without sales charge do not count toward satisfying the amount of the Letter. A Letter enables an investor to count the Class A and Class B shares purchased under the Letter to obtain the reduced sales charge rate on purchases of Class A shares of the Fund (and other ▇▇▇▇▇▇▇▇▇▇▇ funds) that applies under the Right of Accumulation to current purchases of Class A shares. Each purchase of Class A shares under the Letter will be made at the offering price (including the sales charge) that applies to a single lump-sum purchase of shares in the amount intended to be purchased under the Letter. In submitting a Letter, the investor makes no commitment to purchase shares. However, if the investor's purchases of shares within the Letter of Intent period, when added to the value (at offering price) of the investor's holdings of shares on the last day of that period, do not equal or exceed the intended purchase amount, the investor agrees to pay the additional amount of sales charge applicable to such purchases. That amount is described in "Terms of Escrow," below (those terms may be amended by the Distributor from time to time). The investor agrees that shares equal in value to 5% of the intended purchase amount will be held in escrow by the Transfer Agent subject to the Terms of Escrow. Also, the investor agrees to be bound by the terms of the Prospectus, this Statement of Additional Information and the Application used for a Letter of Intent. If those terms are amended, as they may be from time to time by the Fund, the investor agrees to be bound by the amended terms and that those amendments will apply automatically to existing Letters of Intent. If the total eligible purchases made during the Letter of Intent period do not equal or exceed the intended purchase amount, the commissions previously paid to the dealer of record for the account and the amount of sales charge retained by the Distributor will be adjusted to the rates applicable to actual total purchases. If total eligible purchases during the Letter of Intent period exceed the intended purchase amount and exceed the amount needed to qualify for the next sales charge rate reduction set forth in the Prospectus, the sales charges paid will be adjusted to the lower rate. That adjustment will be made only if and when the dealer returns to the Distributor the excess of the amount of commissions allowed or paid to the dealer over the amount of commissions that apply to the actual amount of purchases. The excess commissions returned to the Distributor will be used to purchase additional shares for the investor's account at the net asset value per share in effect on the date of such purchase, promptly after the Distributor's receipt thereof. The Transfer Agent will not hold shares in escrow for purchases of shares of the Fund and other ▇▇▇▇▇▇▇▇▇▇▇ funds by OppenheimerFunds ▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇ prototype 401(k) plans under a Letter of Intent. If the intended purchase amount under a Letter of Intent entered into by an OppenheimerFunds ▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇ prototype 401(k) plan is not purchased by the plan by the end of the Letter of Intent period, there will be no adjustment of commissions paid to the broker-dealer or financial institution of record for accounts held in the name of that plan. In determining the total amount of purchases made under a Letter, shares redeemed by the investor prior to the termination of the Letter of Intent period will be deducted. It is the responsibility of the dealer of record and/or the investor to advise the Distributor about the Letter in placing any purchase orders for the investor during the Letter of Intent period. All of such purchases must be made through the Distributor. |X| Terms of Escrow That Apply to Letters of Intent.
1. Out of the initial purchase (or subsequent purchases if necessary) made pursuant to a Letter, shares of the Fund equal in value up to 5% of the intended purchase amount specified in the Letter shall be held in escrow by the Transfer Agent. For example, if the intended purchase amount is $50,000, the escrow shall be shares valued in the amount of $2,500 (computed at the offering price adjusted for a $50,000 purchase). Any dividends and capital gains distributions on the escrowed shares will be credited to the investor's account.
2. If the total minimum investment specified under the Letter is completed within the thirteen-month Letter of Intent period, the escrowed shares will be promptly released to the investor.
3. If, at the end of the thirteen-month Letter of Intent period the total purchases pursuant to the Letter are less than the intended purchase amount specified in the Letter, the investor must remit to the Distributor an amount equal to the difference between the dollar amount of sales charges actually paid and the amount of sales charges which would have been paid if the total amount purchased had been made at a single time. That sales charge adjustment will apply to any shares redeemed prior to the completion of the Letter. If the difference in sales charges is not paid within twenty (20) days after a request from the Distributor or the dealer, the Distributor will, within sixty (60) days of the expiration of the Letter, redeem the number of escrowed shares necessary to realize such difference in sales charges. Full and fractional shares remaining after such redemption will be released from escrow. If a request is received to redeem escrowed shares prior to the payment of such additional sales charge, the sales charge will be withheld from the redemption proceeds.
4. By signing the Letter, the investor irrevocably constitutes and appoints the Transfer Agent as attorney-in-fact to surrender for redemption any or all escrowed shares.
5. The shares eligible for purchase under the Letter (or the holding of which may be counted toward completion of a Letter) include: (
a) Class A shares sold with a front-end sales charge or subject to a Class A contingent deferred sales charge, (b) Class B shares of other ▇▇▇▇▇▇▇▇▇▇▇ funds acquired subject to a contingent deferred sales charge, and (c) Class A or Class B shares acquired by exchange of either (1) Class A shares of one of the other ▇▇▇▇▇▇▇▇▇▇▇ funds that were acquired subject to a Class A initial or contingent deferred sales charge or (2) Class B shares of one of the other ▇▇▇▇▇▇▇▇▇▇▇ funds that were acquired subject to a contingent deferred sales charge.
6. Shares ▇▇▇▇▇▇ held in escrow hereunder will automatically be exchanged for shares of another fund to which an exchange is requested, as described in the section of the Prospectus entitled "How to Exchange Shares" and the escrow will be transferred to that other fund.
Appears in 1 contract
Sources: Statement of Additional Information (Oppenheimer Emerging Technologies Fund)
Right of Accumulation. To qualify for the lower sales charge rates that apply to larger purchases of Class A shares, you and your spouse can add together: o Class A and Class B shares you purchase for your individual accounts (including IRAs and 403(b) plans), or - for your joint accounts, or for trust or custodial accounts on behalf of your children who are minors, and o Current purchases of Class A and Class B shares of the Fund and other ▇▇▇▇▇▇▇▇▇▇▇ funds to reduce the sales charge rate that applies to current purchases of Class A shares, and o Class A and Class B shares of ▇▇▇▇▇▇▇▇▇▇▇ funds you previously purchased subject to an initial or contingent deferred sales charge to reduce the sales charge rate for current purchases of Class A shares, provided that you still hold your investment in one of the ▇▇▇▇▇▇▇▇▇▇▇ funds. A fiduciary can count all shares purchased for a trust, estate or other fiduciary account (including one or more employee benefit plans of the same employer) that has multiple accounts. The Distributor will add the value, at current offering price, of the shares you previously purchased and currently own to the value of current purchases to determine the sales charge rate that applies. The reduced sales charge will apply only to current purchases. You must request it when you buy shares. |X| The ▇▇▇▇▇▇▇▇▇▇▇ Funds. The ▇▇▇▇▇▇▇▇▇▇▇ funds are those mutual funds for which the Distributor acts as the distributor or the sub-distributor and currently include the following: ▇▇▇▇▇▇▇▇▇▇▇ Bond Fund ▇▇▇▇▇▇▇▇▇▇▇ Municipal Bond Fund ▇▇▇▇▇▇▇▇▇▇▇ California Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ New York Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ Capital Appreciation Fund ▇▇▇▇▇▇▇▇▇▇▇ New Jersey Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ Capital Preservation Fund ▇▇▇▇▇▇▇▇▇▇▇ Pennsylvania Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ Capital Income Fund ▇▇▇▇▇▇▇▇▇▇▇ Quest Balanced Value Fund ▇▇▇▇▇▇▇▇▇▇▇ Champion Income Fund ▇▇▇▇▇▇▇▇▇▇▇ Quest Capital Value Fund, Inc. ▇▇▇▇▇▇▇▇▇▇▇ Concentrated Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Quest Global Value Fund, Inc. ▇▇▇▇▇▇▇▇▇▇▇ Convertible Securities Fund ▇▇▇▇▇▇▇▇▇▇▇ Quest Opportunity Value Fund ▇▇▇▇▇▇▇▇▇▇▇ Developing Markets Fund ▇▇▇▇▇▇▇▇▇▇▇ Quest Value Fund, Inc. ▇▇▇▇▇▇▇▇▇▇▇ Disciplined Allocation Fund ▇▇▇▇▇▇▇▇▇▇▇ Real Asset Fund ▇▇▇▇▇▇▇▇▇▇▇ Discovery Fund ▇▇▇▇▇▇▇▇▇▇▇ Rochester National Municipals ▇▇▇▇▇▇▇▇▇▇▇ Emerging Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Senior Floating Rate Fund ▇▇▇▇▇▇▇▇▇▇▇ Emerging Technologies Fund ▇▇▇▇▇▇▇▇▇▇▇ Small Cap Value Fund ▇▇▇▇▇▇▇▇▇▇▇ Enterprise Fund ▇▇▇▇▇▇▇▇▇▇▇ Special Value Fund ▇▇▇▇▇▇▇▇▇▇▇ Europe Fund ▇▇▇▇▇▇▇▇▇▇▇ Strategic Income Fund ▇▇▇▇▇▇▇▇▇▇▇ Global Fund ▇▇▇▇▇▇▇▇▇▇▇ Total Return Fund, Inc. ▇▇▇▇▇▇▇▇▇▇▇ Global Growth & Income Fund ▇▇▇▇▇▇▇▇▇▇▇ Trinity Core Fund ▇▇▇▇▇▇▇▇▇▇▇ Gold & Special Minerals Fund ▇▇▇▇▇▇▇▇▇▇▇ Trinity Large Cap Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Trinity Value Fund ▇▇▇▇▇▇▇▇▇▇▇ High Yield Fund ▇▇▇▇▇▇▇▇▇▇▇ U.S. Government Trust ▇▇▇▇▇▇▇▇▇▇▇ Intermediate Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ Value Fund ▇▇▇▇▇▇▇▇▇▇▇ International Bond Fund Limited-Term New York Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ International Growth Fund Rochester Fund Municipals ▇▇▇▇▇▇▇▇▇▇▇ International Small Company Fund OSM1- Gartmore Millennium Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Limited Term Government Fund OSM1 - ▇▇▇▇▇▇▇▇ Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Main Street Growth & Income Fund OSM1 - Mercury Advisors S&P 500 Index ▇▇▇▇▇▇▇▇▇▇▇ Main Street Opportunity Fund OSM1 - Mercury Advisors Focus Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Main Street Small Cap Fund OSM1 - QM Active Balanced Fund ▇▇▇▇▇▇▇▇▇▇▇ MidCap Fund OSM1 - Salomon Brothers Capital Fund ▇▇▇▇▇▇▇▇▇▇▇ Multiple Strategies Fund and the following money market funds: Centennial America Fund, L. P. Centennial New York Tax Exempt Trust Centennial California Tax Exempt Trust Centennial Tax Exempt Trust Centennial Government Trust ▇▇▇▇▇▇▇▇▇▇▇ Cash Reserves Centennial Money Market Trust ▇▇▇▇▇▇▇▇▇▇▇ Money Market Fund, Inc. 1 - "OSM" stands for ▇▇▇▇▇▇▇▇▇▇▇ Select Managers There is an initial sales charge on the purchase of Class A shares of each of the ▇▇▇▇▇▇▇▇▇▇▇ funds except the money market funds. Under certain circumstances described in this Statement of Additional Information, redemption proceeds of certain money market fund shares may be subject to a contingent deferred sales charge. |X| Letters of Intent. Under a Letter of Intent, if you purchase Class A shares or Class A and Class B shares of the Fund and other ▇▇▇▇▇▇▇▇▇▇▇ funds during a 13-month period, you can reduce the sales charge rate that applies to your purchases of Class A shares. The total amount of your intended purchases of both Class A and Class B shares will determine the reduced sales charge rate for the Class A shares purchased during that period. You can include purchases made up to 90 days before the date of the Letter. A Letter of Intent is an investor's statement in writing to the Distributor of the intention to purchase Class A shares or Class A and Class B shares of the Fund (and other ▇▇▇▇▇▇▇▇▇▇▇ funds) during a 13-month period (the "Letter of Intent period"). At the investor's request, this may include purchases made up to 90 days prior to the date of the Letter. The Letter states the investor's intention to make the aggregate amount of purchases of shares which, when added to the investor's holdings of shares of those funds, will equal or exceed the amount specified in the Letter. Purchases made by reinvestment of dividends or distributions of capital gains and purchases made at net asset value without sales charge do not count toward satisfying the amount of the Letter. A Letter enables an investor to count the Class A and Class B shares purchased under the Letter to obtain the reduced sales charge rate on purchases of Class A shares of the Fund (and other ▇▇▇▇▇▇▇▇▇▇▇ funds) that applies under the Right of Accumulation to current purchases of Class A shares. Each purchase of Class A shares under the Letter will be made at the offering price (including the sales charge) that applies to a single lump-sum purchase of shares in the amount intended to be purchased under the Letter. In submitting a Letter, the investor makes no commitment to purchase shares. However, if the investor's purchases of shares within the Letter of Intent period, when added to the value (at offering price) of the investor's holdings of shares on the last day of that period, do not equal or exceed the intended purchase amount, the investor agrees to pay the additional amount of sales charge applicable to such purchases. That amount is described in "Terms of Escrow," below (those terms may be amended by the Distributor from time to time). The investor agrees that shares equal in value to 5% of the intended purchase amount will be held in escrow by the Transfer Agent subject to the Terms of Escrow. Also, the investor agrees to be bound by the terms of the Prospectus, this Statement of Additional Information and the Application used for a Letter of Intent. If those terms are amended, as they may be from time to time by the Fund, the investor agrees to be bound by the amended terms and that those amendments will apply automatically to existing Letters of Intent. If the total eligible purchases made during the Letter of Intent period do not equal or exceed the intended purchase amount, the commissions previously paid to the dealer of record for the account and the amount of sales charge retained by the Distributor will be adjusted to the rates applicable to actual total purchases. If total eligible purchases during the Letter of Intent period exceed the intended purchase amount and exceed the amount needed to qualify for the next sales charge rate reduction set forth in the Prospectus, the sales charges paid will be adjusted to the lower rate. That adjustment will be made only if and when the dealer returns to the Distributor the excess of the amount of commissions allowed or paid to the dealer over the amount of commissions that apply to the actual amount of purchases. The excess commissions returned to the Distributor will be used to purchase additional shares for the investor's account at the net asset value per share in effect on the date of such purchase, promptly after the Distributor's receipt thereof. The Transfer Agent will not hold shares in escrow for purchases of shares of the Fund and other ▇▇▇▇▇▇▇▇▇▇▇ funds by OppenheimerFunds prototype 401(k) plans under a Letter of Intent. If the intended purchase amount under a Letter of Intent entered into by an OppenheimerFunds prototype 401(k) plan is not purchased by the plan by the end of the Letter of Intent period, there will be no adjustment of commissions paid to the broker-dealer or financial institution of record for accounts held in the name of that plan. In determining the total amount of purchases made under a Letter, shares redeemed by the investor prior to the termination of the Letter of Intent period will be deducted. It is the responsibility of the dealer of record and/or the investor to advise the Distributor about the Letter in placing any purchase orders for the investor during the Letter of Intent period. All of such purchases must be made through the Distributor. |X| Terms of Escrow That Apply to Letters of Intent.
1. Out of the initial purchase (or subsequent purchases if necessary) made pursuant to a Letter, shares of the Fund equal in value up to 5% of the intended purchase amount specified in the Letter shall be held in escrow by the Transfer Agent. For example, if the intended purchase amount is $50,000, the escrow shall be shares valued in the amount of $2,500 (computed at the offering price adjusted for a $50,000 purchase). Any dividends and capital gains distributions on the escrowed shares will be credited to the investor's account.
2. If the total minimum investment specified under the Letter is completed within the thirteen-month Letter of Intent period, the escrowed shares will be promptly released to the investor.
3. If, at the end of the thirteen-month Letter of Intent period the total purchases pursuant to the Letter are less than the intended purchase amount specified in the Letter, the investor must remit to the Distributor an amount equal to the difference between the dollar amount of sales charges actually paid and the amount of sales charges which would have been paid if the total amount purchased had been made at a single time. That sales charge adjustment will apply to any shares redeemed prior to the completion of the Letter. If the difference in sales charges is not paid within twenty days after a request from the Distributor or the dealer, the Distributor will, within sixty days of the expiration of the Letter, redeem the number of escrowed shares necessary to realize such difference in sales charges. Full and fractional shares remaining after such redemption will be released from escrow. If a request is received to redeem escrowed shares prior to the payment of such additional sales charge, the sales charge will be withheld from the redemption proceeds.
4. By signing the Letter, the investor irrevocably constitutes and appoints the Transfer Agent as attorney-in-fact to surrender for redemption any or all escrowed shares.
5. The shares eligible for purchase under the Letter (or the holding of which may be counted toward completion of a Letter) include: (
a) Class A shares sold with a front-end sales charge or subject to a Class A contingent deferred sales charge, (b) Class B shares of other ▇▇▇▇▇▇▇▇▇▇▇ funds acquired subject to a contingent deferred sales charge, and (c) Class A or Class B shares acquired by exchange of either (1) Class A shares of one of the other ▇▇▇▇▇▇▇▇▇▇▇ funds that were acquired subject to a Class A initial or contingent deferred sales charge or (2) Class B shares of one of the other ▇▇▇▇▇▇▇▇▇▇▇ funds that were acquired subject to a contingent deferred sales charge.
6. Shares held in escrow hereunder will automatically be exchanged for shares of another fund to which an exchange is requested, as described in the section of the Prospectus entitled "How to Exchange Shares" and the escrow will be transferred to that other fund.
Appears in 1 contract
Sources: Statement of Additional Information (Oppenheimer Quest for Value Funds)
Right of Accumulation. To qualify for the lower sales charge rates that apply to larger purchases of Class A shares, you and your spouse can add together: o ? Class A and Class B shares you purchase for your individual accounts accounts, (including IRAs and 403(b) plans), ) or for your joint accounts, or for trust or custodial accounts on behalf of your children who are minors, and o Current ? current purchases of Class A and Class B shares of the Fund and other ▇▇▇▇▇▇▇▇▇▇▇ funds Funds to reduce the sales charge rate that applies to current purchases of Class A shares, and o |_| Class A and Class B shares of ▇▇▇▇▇▇▇▇▇▇▇ funds Funds you previously purchased subject to an initial or contingent deferred sales charge to reduce the sales charge rate for current purchases of Class A shares, provided that you still hold your investment in one of the ▇▇▇▇▇▇▇▇▇▇▇ funds. A fiduciary can count all shares purchased for a trust, estate or other fiduciary account (including one or more employee benefit plans of the same employer) that has multiple accounts. The Distributor will add the value, at current offering price, of the shares you previously purchased and currently own to the value of current purchases to determine the sales charge rate that applies. The reduced sales charge will apply only to current purchases. You must request it when you buy shares. |X| ? The ▇▇▇▇▇▇▇▇▇▇▇ Funds. The ▇▇▇▇▇▇▇▇▇▇▇ funds are those mutual funds for which the Distributor acts as the distributor or the sub-distributor and currently include the following: ▇▇▇▇▇▇▇▇▇▇▇ Bond Fund ▇▇▇▇▇▇▇▇▇▇▇ Municipal Bond Fund ▇▇▇▇▇▇▇▇▇▇▇ California Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ New York Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ Capital Appreciation Fund ▇▇▇▇▇▇▇▇▇▇▇ New Jersey Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ Capital Preservation Fund ▇▇▇▇▇▇▇▇▇▇▇ Pennsylvania Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ Capital Income Fund ▇▇▇▇▇▇▇▇▇▇▇ Quest Balanced Value Fund ▇▇▇▇▇▇▇▇▇▇▇ Champion Income Fund ▇▇▇▇▇▇▇▇▇▇▇ Quest Capital Value Fund, Inc. ▇▇▇▇▇▇▇▇▇▇▇ Concentrated Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Quest Global Value Fund, Inc. ▇▇▇▇▇▇▇▇▇▇▇ Convertible Securities Fund ▇▇▇▇▇▇▇▇▇▇▇ Quest Opportunity Value Fund ▇▇▇▇▇▇▇▇▇▇▇ Developing Markets Fund ▇▇▇▇▇▇▇▇▇▇▇ Quest Value Fund, Inc. ▇▇▇▇▇▇▇▇▇▇▇ Disciplined Allocation Fund ▇▇▇▇▇▇▇▇▇▇▇ Real Asset Fund ▇▇▇▇▇▇▇▇▇▇▇ Discovery Fund ▇▇▇▇▇▇▇▇▇▇▇ Rochester National Municipals Fund ▇▇▇▇▇▇▇▇▇▇▇ Emerging Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Senior Floating Rate Fund ▇▇▇▇▇▇▇▇▇▇▇ Emerging Technologies Fund ▇▇▇▇▇▇▇▇▇▇▇ Small Cap Value Fund ▇▇▇▇▇▇▇▇▇▇▇ Enterprise Fund ▇▇▇▇▇▇▇▇▇▇▇ Special Value Fund ▇▇▇▇▇▇▇▇▇▇▇ Europe Fund ▇▇▇▇▇▇▇▇▇▇▇ Strategic Income Fund ▇▇▇▇▇▇▇▇▇▇▇ Global Fund ▇▇▇▇▇▇▇▇▇▇▇ Total Return Fund, Inc. ▇▇▇▇▇▇▇▇▇▇▇ Global Growth & Income Fund ▇▇▇▇▇▇▇▇▇▇▇ Trinity Core Fund ▇▇▇▇▇▇▇▇▇▇▇ Gold & Special Minerals Fund ▇▇▇▇▇▇▇▇▇▇▇ Trinity Large Cap Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Trinity Value Fund ▇▇▇▇▇▇▇▇▇▇▇ High Yield Fund ▇▇▇▇▇▇▇▇▇▇▇ U.S. Government Trust ▇▇▇▇▇▇▇▇▇▇▇ Intermediate Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ Value Fund ▇▇▇▇▇▇▇▇▇▇▇ International Bond Fund Limited-Term New York Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ International Growth Fund Rochester Fund Municipals ▇▇▇▇▇▇▇▇▇▇▇ International Small Company Fund OSM1- Gartmore Millennium Growth Fund II ▇▇▇▇▇▇▇▇▇▇▇ Limited Limited-Term Government Fund OSM1 - ▇▇▇▇▇▇▇▇ Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Main Street Growth & Income Fund OSM1 - Mercury Advisors S&P 500 Index ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇ Main ▇▇▇▇ Street Opportunity Fund OSM1 - Mercury Advisors Focus Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Main Street Small Cap Fund OSM1 - QM Active Balanced Fund ▇▇▇▇▇▇▇▇▇▇▇ MidCap ▇▇▇▇▇▇ Fund OSM1 - Salomon Brothers Capital Fund ▇▇▇▇▇▇▇▇▇▇▇ Multiple Strategies Fund and the following money market funds: Centennial America Fund, L. P. Centennial New York Tax Exempt Trust Centennial California Tax Exempt Trust Centennial Tax Exempt Trust Centennial Government Trust ▇▇▇▇▇▇▇▇▇▇▇ Cash Reserves Centennial Money Market Trust ▇▇▇▇▇▇▇▇▇▇▇ Money Market Fund, Inc. 1 - "OSM" stands for ▇▇▇▇▇▇▇▇▇▇▇ Select Managers There is an initial sales charge on the purchase of Class A shares of each of the ▇▇▇▇▇▇▇▇▇▇▇ funds except the money market funds. Under certain circumstances described in this Statement of Additional Information, redemption proceeds of certain money market fund shares may be subject to a contingent deferred sales charge. |X| Letters of Intent. Under a Letter of Intent, if you purchase Class A shares or Class A and Class B shares of the Fund and other ▇▇▇▇▇▇▇▇▇▇▇ funds during a thirteen (13-) month period, you can reduce the sales charge rate that applies to your purchases of Class A shares. The total amount of your intended purchases of both Class A and Class B shares will determine the reduced sales charge rate for the Class A shares purchased during that period. You can include purchases made up to 90 ninety (90) days before the date of the Letter. A Letter of Intent is an investor's statement in writing to the Distributor of the intention to purchase Class A shares or Class A and Class B shares of the Fund (and other ▇▇▇▇▇▇▇▇▇▇▇ funds) during a thirteen (13-) month period (the "Letter of Intent period"). At the investor's request, this may include purchases made up to 90 ninety (90) days prior to the date of the Letter. The Letter states the investor's intention to make the aggregate amount of purchases of shares which, when added to the investor's holdings of shares of those funds, will equal or exceed the amount specified in the Letter. Purchases made by reinvestment of dividends or distributions of capital gains and purchases made at net asset value without sales charge do not count toward satisfying the amount of the Letter. A Letter enables an investor to count the Class A and Class B shares purchased under the Letter to obtain the reduced sales charge rate on purchases of Class A shares of the Fund (and other ▇▇▇▇▇▇▇▇▇▇▇ funds) that applies under the Right of Accumulation to current purchases of Class A shares. Each purchase of Class A shares under the Letter will be made at the offering price (including the sales charge) that applies to a single lump-sum purchase of shares in the amount intended to be purchased under the Letter. In submitting a Letter, the investor makes no commitment to purchase shares. However, if the investor's purchases of shares within the Letter of Intent period, when added to the value (at offering price) of the investor's holdings of shares on the last day of that period, do not equal or exceed the intended purchase amount, the investor agrees to pay the additional amount of sales charge applicable to such purchases. That amount is described in "Terms of Escrow," below (those terms may be amended by the Distributor from time to time). The investor agrees that shares equal in value to 5% of the intended purchase amount will be held in escrow by the Transfer Agent subject to the Terms of Escrow. Also, the investor agrees to be bound by the terms of the Prospectus, this Statement of Additional Information and the Application used for a Letter of Intent. If those terms are amended, as they may be from time to time by the Fund, the investor agrees to be bound by the amended terms and that those amendments will apply automatically to existing Letters of Intent. If the total eligible purchases made during the Letter of Intent period do not equal or exceed the intended purchase amount, the commissions previously paid to the dealer of record for the account and the amount of sales charge retained by the Distributor will be adjusted to the rates applicable to actual total purchases. If total eligible purchases during the Letter of Intent period exceed the intended purchase amount and exceed the amount needed to qualify for the next sales charge rate reduction set forth in the Prospectus, the sales charges paid will be adjusted to the lower rate. That adjustment will be made only if and when the dealer returns to the Distributor the excess of the amount of commissions allowed or paid to the dealer over the amount of commissions that apply to the actual amount of purchases. The excess commissions returned to the Distributor will be used to purchase additional shares for the investor's account at the net asset value per share in effect on the date of such purchase, promptly after the Distributor's receipt thereof. The Transfer Agent will not hold shares in escrow for purchases of shares of the Fund and other ▇▇▇▇▇▇▇▇▇▇▇ funds by OppenheimerFunds ▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇ prototype 401(k) plans under a Letter of Intent. If the intended purchase amount under a Letter of Intent entered into by an OppenheimerFunds ▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇ prototype 401(k) plan is not purchased by the plan by the end of the Letter of Intent period, there will be no adjustment of commissions paid to the broker-dealer or financial institution of record for accounts held in the name of that plan. In determining the total amount of purchases made under a Letter, shares redeemed by the investor prior to the termination of the Letter of Intent period will be deducted. It is the responsibility of the dealer of record and/or the investor to advise the Distributor about the Letter in placing any purchase orders for the investor during the Letter of Intent period. All of such purchases must be made through the Distributor. |X| Terms of Escrow That Apply to Letters of Intent.
1. Out of the initial purchase (or subsequent purchases if necessary) made pursuant to a Letter, shares of the Fund equal in value up to 5% of the intended purchase amount specified in the Letter shall be held in escrow by the Transfer Agent. For example, if the intended purchase amount is $50,000, the escrow shall be shares valued in the amount of $2,500 (computed at the offering price adjusted for a $50,000 purchase). Any dividends and capital gains distributions on the escrowed shares will be credited to the investor's account.
2. If the total minimum investment specified under the Letter is completed within the thirteen-month Letter of Intent period, the escrowed shares will be promptly released to the investor.
3. If, at the end of the thirteen-month Letter of Intent period the total purchases pursuant to the Letter are less than the intended purchase amount specified in the Letter, the investor must remit to the Distributor an amount equal to the difference between the dollar amount of sales charges actually paid and the amount of sales charges which would have been paid if the total amount purchased had been made at a single time. That sales charge adjustment will apply to any shares redeemed prior to the completion of the Letter. If the difference in sales charges is not paid within twenty (20) days after a request from the Distributor or the dealer, the Distributor will, within sixty (60) days of the expiration of the Letter, redeem the number of escrowed shares necessary to realize such difference in sales charges. Full and fractional shares remaining after such redemption will be released from escrow. If a request is received to redeem escrowed shares prior to the payment of such additional sales charge, the sales charge will be withheld from the redemption proceeds.
4. By signing the Letter, the investor irrevocably constitutes and appoints the Transfer Agent as attorney-in-fact to surrender for redemption any or all escrowed shares.
5. The shares eligible for purchase under the Letter (or the holding of which may be counted toward completion of a Letter) include: (
a) Class A shares sold with a front-end sales charge or subject to a Class A contingent deferred sales charge, (b) Class B shares of other ▇▇▇▇▇▇▇▇▇▇▇ funds acquired subject to a contingent deferred sales charge, and (c) Class A or Class B shares acquired by exchange of either (1) Class A shares of one of the other ▇▇▇▇▇▇▇▇▇▇▇ funds that were acquired subject to a Class A initial or contingent deferred sales charge or (2) Class B shares of one of the other ▇▇▇▇▇▇▇▇▇▇▇ funds that were acquired subject to a contingent deferred sales charge.
6. Shares ▇▇▇▇▇▇ held in escrow hereunder will automatically be exchanged for shares of another fund to which an exchange is requested, as described in the section of the Prospectus entitled "How to Exchange Shares" and the escrow will be transferred to that other fund.
Appears in 1 contract
Sources: Statement of Additional Information (Oppenheimer Emerging Technologies Fund)
Right of Accumulation. To qualify for the lower sales charge rates that apply to larger purchases of Class A shares, you and your spouse can add together: o Class A and Class B shares you purchase for your individual accounts (including IRAs and 403(b) plans), - or for your joint accounts, or for trust or custodial accounts on behalf of your children who are minors, and o Current purchases of Class A and Class B shares of the Fund and other ▇▇▇▇▇▇▇▇▇▇▇ funds to reduce the sales charge rate that applies to current purchases of Class A shares, and o Class A and Class B shares of ▇▇▇▇▇▇▇▇▇▇▇ funds you previously purchased subject to an initial or contingent deferred sales charge to reduce the sales charge rate for current purchases of Class A shares, provided that you still hold your investment in one of the ▇▇▇▇▇▇▇▇▇▇▇ funds. A fiduciary can count all shares purchased for a trust, estate or other fiduciary account (including one or more employee benefit plans of the same employer) that has multiple accounts. The Distributor will add the value, at current offering price, of the shares you previously purchased and currently own to the value of current purchases to determine the sales charge rate that applies. The reduced sales charge will apply only to current purchases. You must request it when you buy shares. |X| The ▇▇▇▇▇▇▇▇▇▇▇ Funds. The ▇▇▇▇▇▇▇▇▇▇▇ funds are those mutual funds for which the Distributor acts as the distributor or the sub-distributor and currently include the following: ▇▇▇▇▇▇▇▇▇▇▇ Bond Fund ▇▇▇▇▇▇▇▇▇▇▇ Municipal Bond Fund ▇▇▇▇▇▇▇▇▇▇▇ California Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ New York Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ Capital Appreciation Fund ▇▇▇▇▇▇▇▇▇▇▇ New Jersey Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ Capital Preservation Fund ▇▇▇▇▇▇▇▇▇▇▇ Pennsylvania Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ Capital Income Fund ▇▇▇▇▇▇▇▇▇▇▇ Quest Balanced Value Fund ▇▇▇▇▇▇▇▇▇▇▇ Champion Income Fund ▇▇▇▇▇▇▇▇▇▇▇ Quest Capital Value Fund, Inc. ▇▇▇▇▇▇▇▇▇▇▇ Concentrated Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Quest Global Value Fund, Inc. ▇▇▇▇▇▇▇▇▇▇▇ Convertible Securities Fund ▇▇▇▇▇▇▇▇▇▇▇ Quest Opportunity Value Fund ▇▇▇▇▇▇▇▇▇▇▇ Developing Markets Fund ▇▇▇▇▇▇▇▇▇▇▇ Quest Value Fund, Inc. ▇▇▇▇▇▇▇▇▇▇▇ Disciplined Allocation Fund ▇▇▇▇▇▇▇▇▇▇▇ Real Asset Fund ▇▇▇▇▇▇▇▇▇▇▇ Discovery Fund ▇▇▇▇▇▇▇▇▇▇▇ Rochester National Municipals ▇▇▇▇▇▇▇▇▇▇▇ Emerging Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Senior Floating Rate Fund ▇▇▇▇▇▇▇▇▇▇▇ Emerging Technologies Fund ▇▇▇▇▇▇▇▇▇▇▇ Small Cap Value Fund ▇▇▇▇▇▇▇▇▇▇▇ Enterprise Fund ▇▇▇▇▇▇▇▇▇▇▇ Special Value Fund ▇▇▇▇▇▇▇▇▇▇▇ Europe Fund ▇▇▇▇▇▇▇▇▇▇▇ Strategic Income Fund ▇▇▇▇▇▇▇▇▇▇▇ Global Fund ▇▇▇▇▇▇▇▇▇▇▇ Total Return Fund, Inc. ▇▇▇▇▇▇▇▇▇▇▇ Global Growth & Income Fund ▇▇▇▇▇▇▇▇▇▇▇ Trinity Core Fund ▇▇▇▇▇▇▇▇▇▇▇ Gold & Special Minerals Fund ▇▇▇▇▇▇▇▇▇▇▇ Trinity Large Cap Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Trinity Value Fund ▇▇▇▇▇▇▇▇▇▇▇ High Yield Fund ▇▇▇▇▇▇▇▇▇▇▇ U.S. Government Trust ▇▇▇▇▇▇▇▇▇▇▇ Intermediate Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ Value Fund ▇▇▇▇▇▇▇▇▇▇▇ International Bond Fund Limited-Term New York Municipal Fund ▇▇▇▇▇▇▇▇▇▇▇ International Growth Fund Rochester Fund Municipals ▇▇▇▇▇▇▇▇▇▇▇ International Small Company Fund OSM1- Gartmore Millennium Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Limited Term Government Fund OSM1 - ▇▇▇▇▇▇▇▇ Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Main Street Growth & Income Fund OSM1 - Mercury Advisors S&P 500 Index ▇▇▇▇▇▇▇▇▇▇▇ Main Street Opportunity Fund OSM1 - Mercury Advisors Focus Growth Fund ▇▇▇▇▇▇▇▇▇▇▇ Main Street Small Cap Fund OSM1 - QM Active Balanced Fund ▇▇▇▇▇▇▇▇▇▇▇ MidCap ▇▇▇▇▇▇ Fund OSM1 - Salomon Brothers Capital Fund ▇▇▇▇▇▇▇▇▇▇▇ Multiple Strategies Fund and the following money market funds: Centennial America Fund, L. P. Centennial New York Tax Exempt Trust Centennial California Tax Exempt Trust Centennial Tax Exempt Trust Centennial Government Trust ▇▇▇▇▇▇▇▇▇▇▇ Cash Reserves Centennial Money Market Trust ▇▇▇▇▇▇▇▇▇▇▇ Money Market Fund, Inc. 1 - "OSM" stands for ▇▇▇▇▇▇▇▇▇▇▇ Select Managers There is an initial sales charge on the purchase of Class A shares of each of the ▇▇▇▇▇▇▇▇▇▇▇ funds except the money market funds. Under certain circumstances described in this Statement of Additional Information, redemption proceeds of certain money market fund shares may be subject to a contingent deferred sales charge. |X| Letters of Intent. Under a Letter of Intent, if you purchase Class A shares or Class A and Class B shares of the Fund and other ▇▇▇▇▇▇▇▇▇▇▇ funds during a 13-month period, you can reduce the sales charge rate that applies to your purchases of Class A shares. The total amount of your intended purchases of both Class A and Class B shares will determine the reduced sales charge rate for the Class A shares purchased during that period. You can include purchases made up to 90 days before the date of the Letter. A Letter of Intent is an investor's statement in writing to the Distributor of the intention to purchase Class A shares or Class A and Class B shares of the Fund (and other ▇▇▇▇▇▇▇▇▇▇▇ funds) during a 13-month period (the "Letter of Intent period"). At the investor's request, this may include purchases made up to 90 days prior to the date of the Letter. The Letter states the investor's intention to make the aggregate amount of purchases of shares which, when added to the investor's holdings of shares of those funds, will equal or exceed the amount specified in the Letter. Purchases made by reinvestment of dividends or distributions of capital gains and purchases made at net asset value without sales charge do not count toward satisfying the amount of the Letter. A Letter enables an investor to count the Class A and Class B shares purchased under the Letter to obtain the reduced sales charge rate on purchases of Class A shares of the Fund (and other ▇▇▇▇▇▇▇▇▇▇▇ funds) that applies under the Right of Accumulation to current purchases of Class A shares. Each purchase of Class A shares under the Letter will be made at the offering price (including the sales charge) that applies to a single lump-sum purchase of shares in the amount intended to be purchased under the Letter. In submitting a Letter, the investor makes no commitment to purchase shares. However, if the investor's purchases of shares within the Letter of Intent period, when added to the value (at offering price) of the investor's holdings of shares on the last day of that period, do not equal or exceed the intended purchase amount, the investor agrees to pay the additional amount of sales charge applicable to such purchases. That amount is described in "Terms of Escrow," below (those terms may be amended by the Distributor from time to time). The investor agrees that shares equal in value to 5% of the intended purchase amount will be held in escrow by the Transfer Agent subject to the Terms of Escrow. Also, the investor agrees to be bound by the terms of the Prospectus, this Statement of Additional Information and the Application used for a Letter of Intent. If those terms are amended, as they may be from time to time by the Fund, the investor agrees to be bound by the amended terms and that those amendments will apply automatically to existing Letters of Intent. If the total eligible purchases made during the Letter of Intent period do not equal or exceed the intended purchase amount, the commissions previously paid to the dealer of record for the account and the amount of sales charge retained by the Distributor will be adjusted to the rates applicable to actual total purchases. If total eligible purchases during the Letter of Intent period exceed the intended purchase amount and exceed the amount needed to qualify for the next sales charge rate reduction set forth in the Prospectus, the sales charges paid will be adjusted to the lower rate. That adjustment will be made only if and when the dealer returns to the Distributor the excess of the amount of commissions allowed or paid to the dealer over the amount of commissions that apply to the actual amount of purchases. The excess commissions returned to the Distributor will be used to purchase additional shares for the investor's account at the net asset value per share in effect on the date of such purchase, promptly after the Distributor's receipt thereof. The Transfer Agent will not hold shares in escrow for purchases of shares of the Fund and other ▇▇▇▇▇▇▇▇▇▇▇ funds by OppenheimerFunds ▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇ prototype 401(k) plans under a Letter of Intent. If the intended purchase amount under a Letter of Intent entered into by an OppenheimerFunds ▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇ prototype 401(k) plan is not purchased by the plan by the end of the Letter of Intent period, there will be no adjustment of commissions paid to the broker-dealer or financial institution of record for accounts held in the name of that plan. In determining the total amount of purchases made under a Letter, shares redeemed by the investor prior to the termination of the Letter of Intent period will be deducted. It is the responsibility of the dealer of record and/or the investor to advise the Distributor about the Letter in placing any purchase orders for the investor during the Letter of Intent period. All of such purchases must be made through the Distributor. |X| Terms of Escrow That Apply to Letters of Intent.
1. Out of the initial purchase (or subsequent purchases if necessary) made pursuant to a Letter, shares of the Fund equal in value up to 5% of the intended purchase amount specified in the Letter shall be held in escrow by the Transfer Agent. For example, if the intended purchase amount is $50,000, the escrow shall be shares valued in the amount of $2,500 (computed at the offering price adjusted for a $50,000 purchase). Any dividends and capital gains distributions on the escrowed shares will be credited to the investor's account.
2. If the total minimum investment specified under the Letter is completed within the thirteen-month Letter of Intent period, the escrowed shares will be promptly released to the investor.
3. If, at the end of the thirteen-month Letter of Intent period the total purchases pursuant to the Letter are less than the intended purchase amount specified in the Letter, the investor must remit to the Distributor an amount equal to the difference between the dollar amount of sales charges actually paid and the amount of sales charges which would have been paid if the total amount purchased had been made at a single time. That sales charge adjustment will apply to any shares redeemed prior to the completion of the Letter. If the difference in sales charges is not paid within twenty days after a request from the Distributor or the dealer, the Distributor will, within sixty days of the expiration of the Letter, redeem the number of escrowed shares necessary to realize such difference in sales charges. Full and fractional shares remaining after such redemption will be released from escrow. If a request is received to redeem escrowed shares prior to the payment of such additional sales charge, the sales charge will be withheld from the redemption proceeds.
4. By signing the Letter, the investor irrevocably constitutes and appoints the Transfer Agent as attorney-in-fact to surrender for redemption any or all escrowed shares.
5. The shares eligible for purchase under the Letter (or the holding of which may be counted toward completion of a Letter) include: (
a) Class A shares sold with a front-end sales charge or subject to a Class A contingent deferred sales charge, (b) Class B shares of other ▇▇▇▇▇▇▇▇▇▇▇ funds acquired subject to a contingent deferred sales charge, and (c) Class A or Class B shares acquired by exchange of either (1) Class A shares of one of the other ▇▇▇▇▇▇▇▇▇▇▇ funds that were acquired subject to a Class A initial or contingent deferred sales charge or (2) Class B shares of one of the other ▇▇▇▇▇▇▇▇▇▇▇ funds that were acquired subject to a contingent deferred sales charge.
6. Shares ▇▇▇▇▇▇ held in escrow hereunder will automatically be exchanged for shares of another fund to which an exchange is requested, as described in the section of the Prospectus entitled "How to Exchange Shares" and the escrow will be transferred to that other fund.
Appears in 1 contract
Sources: Statement of Additional Information (Oppenheimer Quest for Value Funds)