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Common use of Good Standing of the Fund Clause in Contracts

Good Standing of the Fund. The Fund has been duly organized ------------------------- and is validly existing as a voluntary association (commonly referred to as a business trust) under the laws of the Commonwealth of Massachusetts and has power and authority to own, lease and operate its properties and to conduct its business as described in the Prospectus and to enter into and perform its obligations under this Agreement; and the Fund is duly qualified to transact business and is in good standing in each jurisdiction in which such qualification is required, whether by reason of the ownership or leasing of property or the conduct of business, except where the failure so to qualify or to be in good standing would not result in a Material Adverse Effect.

Appears in 3 contracts

Samples: Purchase Agreement (Muniholdings Pennsylvania Insured Fund), Purchase Agreement (Muniholdings Florida Insured Fund Iv), Purchase Agreement (Muniholdings Pennsylvania Insured Fund)

Good Standing of the Fund. The Fund has been duly organized ------------------------- and is validly existing as a an unincorporated voluntary association (commonly referred to as a business trust) in good standing under the laws of the Commonwealth of Massachusetts and has power and authority to own, own and lease and operate its properties and to conduct its business as described in the Prospectus and to enter into and perform its obligations under this Agreement; and the Fund is duly qualified to transact business and is in good standing in each other jurisdiction in which such qualification is required, whether by reason of the ownership or leasing of property or the conduct of business, except where the failure so to qualify or to be in good standing would not result in a Material Adverse Effect.

Appears in 2 contracts

Samples: Underwriter Participation Agreement (Western Asset Claymore Us Treasury Inflation Pro Secu Fund), Purchase Agreement (Aew Real Estate Income Fund)

Good Standing of the Fund. The Fund has been duly organized ------------------------- and is validly existing as a an unincorporated voluntary association (commonly referred to as a business trust) in good standing under the laws of the Commonwealth of Massachusetts and has full power and authority to own, lease and operate its properties and to conduct its business as described in the Prospectus and to enter into and perform its obligations under this Agreement; and the Fund is duly qualified to transact business and is in good standing in each other jurisdiction in which such qualification is required, whether by reason of the ownership or leasing of property or the conduct of business, except where the failure so to qualify or to be in good standing would not result in a Material Adverse Effect.

Appears in 2 contracts

Samples: Purchase Agreement (Pimco Corporate Opportunity Fund), Purchase Agreement (Pimco Corporate Opportunity Fund)

Good Standing of the Fund. The Fund has been duly organized ------------------------- and is validly existing as a voluntary association (commonly referred to as a business trust) in good standing under the laws of the Commonwealth of Massachusetts and has power and authority to own, lease and operate its properties and to conduct its business as described in the Prospectus and to enter into and perform its obligations under this Agreement; and the Fund is duly qualified to transact business and is in good standing in each jurisdiction in which such qualification is required, whether by reason of the ownership or leasing of property or the conduct of business, except where the failure so to qualify or to be in good standing would not result in a Material Adverse Effect.

Appears in 1 contract

Samples: Purchase Agreement (Muniyield Florida Fund)

Good Standing of the Fund. The Fund has been duly organized ------------------------- and is ------------------------- validly existing as a voluntary association (commonly referred to as a business trust) under the laws of the Commonwealth of Massachusetts and has power and authority to own, lease and operate its properties and to conduct its business as described in the Prospectus and to enter into and perform its obligations under this Agreement; and the Fund is duly qualified to transact business and is in good standing in each jurisdiction in which such qualification is required, whether by reason of the ownership or leasing of property or the conduct of business, except where the failure so to qualify or to be in good standing would not result in a Material Adverse Effect.

Appears in 1 contract

Samples: Purchase Agreement (Muniholdings Florida Insured Fund Iv)

Good Standing of the Fund. The Fund has been duly organized ------------------------- and is validly existing as a voluntary association (commonly referred to as a business trust) in good standing under the laws of the Commonwealth of Massachusetts and has corporate power and authority to own, lease and operate its properties and to conduct its business as described in the Prospectus and to enter into and perform its obligations under this Agreement; and the Fund is duly qualified to transact business and is in good standing in each jurisdiction in which such qualification is required, whether by reason of the ownership or leasing of property or the conduct of business, except where the failure so to qualify or to be in good standing would not result in a Material Adverse Effect.

Appears in 1 contract

Samples: Purchase Agreement (Muniyield Pennsylvania Fund)

Good Standing of the Fund. The Fund has been duly organized ------------------------- and organized, is validly existing as a an unincorporated voluntary association under and by virtue of the laws of The Commonwealth of Massachusetts (commonly referred to as a “Massachusetts business trust) under ”), has the laws of the Commonwealth of Massachusetts and has power and authority to own, lease and operate its properties and to conduct its business as described in the Registration Statement, the General Disclosure Package and the Prospectus and to enter into and perform its obligations under this Agreement; and the Fund is duly qualified to transact business and is in good standing in each other jurisdiction in which such qualification is required, whether by reason of the ownership or leasing of property or the conduct of business, except where the failure so to qualify or to be in good standing would not result in a Fund Material Adverse Effect.

Appears in 1 contract

Samples: Underwriting Agreement (PIMCO Access Income Fund)

Good Standing of the Fund. The Fund has been duly organized ------------------------- and is validly existing as a voluntary association (commonly referred to as a business trust) under the laws of the Commonwealth of Massachusetts and has power and authority to own, lease and operate its properties and to conduct its business as described in the Prospectus and to enter into and perform its obligations under this Agreement; and the Fund is duly qualified to transact business and is in good standing in each jurisdiction in which such qualification is required, whether by reason of the ownership or leasing of property or the conduct of business, except where the failure so to qualify or to be in good standing would not result in a Material Adverse Effect.

Appears in 1 contract

Samples: Purchase Agreement (Muniholdings Florida Insured Fund V)

Good Standing of the Fund. The Fund has been duly organized ------------------------- formed, has a legal existence and is validly existing in good standing as a voluntary association (commonly referred to as a business trust) with transferable shares organized and existing under the laws of the Commonwealth of Massachusetts and has the full power and authority to own, lease and operate its properties and to conduct its business as described in the Registration Statement, the General Disclosure Package and the Prospectus and to enter into and perform its obligations under this Agreement; and the Fund is duly qualified to transact business and is in good standing in each other jurisdiction in which such qualification is required, whether by reason of the ownership or leasing of property or the conduct of business, except where the failure so to qualify or to be in good standing would not result in a Material Adverse Effect.

Appears in 1 contract

Samples: Underwriting Agreement (Babson Capital Global Short Duration High Yield Fund)