Common use of Merger, Dissolution, etc Clause in Contracts

Merger, Dissolution, etc. of Fund. In the case of the following transactions, not in the ordinary course of business, namely, the merger of the Fund into or the consolidation of the Fund with another investment company, the sale by the Fund of all, or substantially all, of its assets to another investment company, or the liquidation or dissolution of the Fund and distribution of its assets, the Bank will deliver the Portfolio Securities held by it under this Agreement and disburse cash only upon the order of the Fund set forth in an Officers’ Certificate, accompanied by a certified copy of a resolution of the Board authorizing any of the foregoing transactions. Upon completion of such delivery and disbursement and the payment of the fees, disbursements and expenses of the Bank, this Agreement will terminate and the Bank shall be released from any and all obligations hereunder.

Merger, Dissolution, etc. of Funda Portfolio. In the case of the following transactions, not in the ordinary course of business, namely, the merger of the Fund a Portfolio into or the consolidation of the Fund a Portfolio with another investment company, the sale by the Fund a Portfolio of all, or substantially all, of its assets to another investment company, or the liquidation or dissolution of the Fund a Portfolio and distribution of its assets, the Bank will deliver the Portfolio Securities held by it under this Agreement and disburse cash only upon the order of the Fund set forth in an Officers’ ' Certificate, accompanied by a certified copy of a resolution of the Board authorizing any of the foregoing transactions. Upon completion of such delivery and disbursement and the payment of the feesfees through the end of the then current term of this Agreement, and disbursements and expenses of the Bank, this Agreement will terminate and the Bank shall be released from any and all obligations hereunder.