Common use of UNDERWRITING SERVICES Clause in Contracts

UNDERWRITING SERVICES. The Fund hereby engages Securities, and Securities hereby agrees to act, as principal underwriter for the Fund in connection with the sale and distribution of the shares of the Fund’s Series (as defined below) to the public, either through dealers or otherwise. Securities agrees to offer such shares for sale at all times when such shares are available for sale and may lawfully be offered for sale and sold. As used herein, “Series” is defined as the Fund’s Series listed on Exhibit A and any other Series which may hereafter be created by the Board of Directors of the Fund.

UNDERWRITING SERVICES. The Fund hereby engages Securities, and Securities hereby agrees to act, as principal underwriter for the Fund in connection with the sale and distribution of the shares of the Fund’s Series (as defined below) to the public, either through dealers or otherwise. Securities agrees to offer such shares for sale at all times when such shares are available for sale and may lawfully be offered for sale and sold. As used herein, “Series” is defined as the Fund’s Sit International Growth Fund (Series listed on Exhibit A A) and Sit Balanced Fund (Series B) and any other Series which may hereafter be created by the Board of Directors of the Fund.