Common use of Certain Legal Matters; Regulatory Approvals Clause in Contracts

Certain Legal Matters; Regulatory Approvals. The Fund's investment in Brazilian securities has been registered as foreign investment with the Central Bank of Brazil, which has issued a Certificate of Registration for the foreign currency value of such investment. Based on the Certificate of Registration, the Fund's current investment in Brazilian securities may be repatriated in order to permit the Fund to purchase Shares in the Offer. The Fund is not aware of any approval or other action by any government or governmental, administrative or regulatory authority or agency, domestic or foreign, that would be required for the acquisition or ownership of Shares by the Fund as contemplated herein. Should any such approval or other action be required, the Fund presently contemplates that such approval or other action will be sought. The Fund is unable to predict whether it may determine that it is required to delay the acceptance for payment of, or payment for, Shares tendered pursuant to the Offer pending the outcome of any such matter. There can be no assurance that any such approval or other action, if needed, would be obtained without substantial conditions or that the failure to obtain any such approval or other action might not result in adverse consequences to the Fund's business. The Fund's obligations under the Offer to accept for payment and pay for Shares are subject to certain conditions. See Section 12.