Common use of Qualification under Subchapter M Clause in Contracts

Qualification under Subchapter M. For each taxable year of its operation (including the taxable year ending on the Effective Date), the Emerging Markets Telecommunications Fund has met the requirements of Subchapter M of the Code for qualification as a RIC and has elected to be treated as such, has been eligible to and has computed its federal income tax under Section 852 of the Code, and will have distributed substantially all of its investment company taxable income and net realized capital gain (as defined in the Code) that has accrued through the Effective Date. 3.13. Form N-14. The registration statement to be filed by the Emerging Markets Infrastructure Fund on Form N-14 relating to the Emerging Markets Infrastructure Fund Common Stock to be issued pursuant to this Agreement, and any supplement or amendment thereto or to the documents therein (as amended, the "N-14 Registration Statement"), on the effective date of the N-14 Registration Statement, at the time of the shareholders' meetings referred to in Article 6 of this Agreement and at the Effective Date, insofar as it relates to the Emerging Markets Telecommunications Fund (i) shall have complied or will comply in all material respects with the provisions of the 1933 Act, the 1934 Act and the 1940 Act and the rules and regulations thereunder and (ii) did not or will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading; and the prospectus included therein did not or will not contain any untrue statement of a material fact or omit to state any material fact necessary to make the statements therein, in light of the circumstances under which they were made, not misleading; provided, however, that the representations and warranties in this Section 3.13 shall only apply to statements in, or omissions from, the N-14 Registration Statement made in reliance upon and in conformity with information furnished by the Emerging Markets Infrastructure Fund for use in the N-14 Registration Statement. 3.14.

Qualification under Subchapter M. For each taxable year of its operation (including the taxable year ending on the Effective Date)operation, the Emerging Markets Telecommunications Infrastructure Fund has met the requirements of Subchapter M of the Code for qualification as a RIC and has elected to be treated as such, has been eligible to and has computed its federal income tax under Section 852 of the Code, and will have distributed substantially all of its investment company taxable income and net realized capital gain (as defined in the Code) that has accrued through the Effective Date. 3.134.13. Form N-14. The registration statement to be filed by the Emerging Markets Infrastructure Fund on Form N-14 relating to the Emerging Markets Infrastructure Fund Common Stock to be issued pursuant to this Agreement, and any supplement or amendment thereto or to the documents therein (as amended, the "N-14 Registration Statement"), on the effective date of the N-14 Registration Statement, at the time of the shareholders' meetings referred to in Article Section 6 of this Agreement and at the Effective Date, insofar as it relates to the Emerging Markets Telecommunications Infrastructure Fund (i) shall have complied or will comply in all material respects with the provisions of the 1933 Act, the 1934 Act and the 1940 Act and the rules and regulations thereunder and (ii) did not or will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading; and the prospectus included therein did not or will not contain any untrue statement of a material fact or omit to state any material fact necessary to make the statements therein, in light of the circumstances under which they were made, not misleading; provided, however, that the representations and warranties in this Section 3.13 4.13 shall only not apply to statements in, or omissions from, the N-14 Registration Statement made in reliance upon and in conformity with information furnished by the Emerging Markets Infrastructure Telecommunications Fund for use in the N-14 Registration Statement. 3.144.14.

Qualification under Subchapter M. For each taxable year of its operation (including the taxable year ending on the Effective Date)operation, the Emerging Markets Telecommunications Indonesia Fund has met the requirements of Subchapter M of the Code for qualification as a RIC and has elected to be treated as such, has been eligible to and has computed its federal income tax under Section 852 of the Code, and will have distributed substantially all of its investment company taxable income and net realized capital gain (as defined in the Code) that has accrued through the Effective Date. 3.13As of March 31, 2000 and June 30, 2000 and September 30, 2000, the Indonesia Fund has met the requirements of Subchapter M of the Code for qualification as a RIC. 4.13. Form N-14. The registration statement to be filed by the Emerging Markets Infrastructure Fund on Form N-14 relating to the Emerging Markets Infrastructure Fund Common Stock to be issued pursuant to this Agreement, and any supplement or amendment thereto or to the documents therein (as amended, the "N-14 Registration Statement"), on the effective date of the N-14 Registration Statement, at the time of the shareholders' meetings referred to in Article Section 6 of this Agreement and at the Effective Date, insofar as it relates to the Emerging Markets Telecommunications Indonesia Fund (i) shall have complied or will comply in all material respects with the provisions of the 1933 Act, the 1934 Act and the 1940 Act and the rules and regulations thereunder and (ii) did not or will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading; and the prospectus included therein did not or will not contain any untrue statement of a material fact or omit to state any material fact necessary to make the statements therein, in light of the circumstances under which they were made, not misleading; provided, however, that the representations and warranties in this Section 3.13 4.13 shall only not apply to statements in, or omissions from, the N-14 Registration Statement made in reliance upon and in conformity with information furnished by the Emerging Markets Infrastructure Jakarta Fund in writing for use in the N-14 Registration Statement. 3.144.14.

Qualification under Subchapter M. For each taxable year of its operation (including the taxable year ending on the Effective Date), the Emerging Markets Telecommunications Jakarta Fund has met the requirements of Subchapter M of the Code for qualification as a RIC and has elected to be treated as such, has been eligible to and has computed its federal income tax under Section 852 of the Code, and will have distributed substantially all of its investment company taxable income and net realized capital gain (as defined in the Code) that has accrued through the Effective Date. As of June 30, 2000 and September 30, 2000, the Jakarta Fund has met the requirements of Subchapter M of the Code for qualification as a RIC. 3.13. Form N-14. The registration statement to be filed by the Emerging Markets Infrastructure Indonesia Fund on Form N-14 relating to the Emerging Markets Infrastructure Indonesia Fund Common Stock to be issued pursuant to this Agreement, and any supplement supplements or amendment amendments thereto or to the documents therein (as amended, the "N-14 Registration Statement"), on the effective date of the N-14 Registration Statement, at the time of the shareholders' meetings referred to in Article 6 of this Agreement and at the Effective Date, insofar as it relates to the Emerging Markets Telecommunications Jakarta Fund (i) shall have complied or will comply in all material respects with the provisions of the 1933 Act, the 1934 Act and the 1940 Act and the rules and regulations thereunder and (ii) did not or will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading; and the prospectus included therein did not or will not contain any untrue statement of a material fact or omit to state any material fact necessary to make the statements therein, in light of the circumstances under which they were made, not misleading; provided, however, that the representations and warranties in this Section 3.13 shall only apply to statements in, or omissions from, the N-14 Registration Statement made in reliance upon and in conformity with information furnished by the Emerging Markets Infrastructure Jakarta Fund in writing for use in the N-14 Registration Statement. 3.14.