Common use of Recapitalization or Readjustment Clause in Contracts

Recapitalization or Readjustment. In case of any recapitalization, readjustment or other change in the capital structure of a Fund requiring a change in the form of stock certificates, DST will issue or register certificates in the new form in exchange for, or in transfer of, the outstanding certificates in the old form, upon receiving: A. Written instructions from an officer of the Fund Transfer Agent; B. Certified copy of the amendment to the Fund's Articles of Incorporation or other document effecting the change; C. Certified copy of the order or consent of each governmental or regulatory authority, required by law to the issuance of the stock in the new form, and an opinion of counsel that the order or consent of no other government or regulatory authority is required; D. Specimens of the new certificates in the form approved by the Board of Directors of the affected Fund, with a certificate of the Secretary of the Fund as to such approval; and E. Opinion of counsel for the Fund or the Fund Transfer Agent stating: (1) The status of the shares of stock of the Fund in the new form under the 1933 Act and any other applicable federal or state statute; and (2) That the issued shares in the new form are, and all unissued shares will be, when issued, validly issued, fully paid and nonassessable.

Recapitalization or Readjustment. In case of any recapitalization, readjustment or other change in the capital structure of a the Fund requiring a change in the form of stock certificates, DST will issue or register certificates in the new form in exchange for, or in transfer of, the outstanding certificates in the old form, upon receiving: A. Written instructions from an officer of the Fund Transfer AgentFund; B. Certified copy of the amendment to the Fund's Articles of Incorporation or other document effecting the change; C. Certified copy of the order or consent of each governmental or regulatory authority, required by law to the issuance of the stock in the new form, and an opinion of counsel that the order or consent of no other government or regulatory authority is required; D. Specimens of the new certificates in the form approved by the Board of Directors of the affected Fund, with a certificate of the Secretary of the Fund as to such approval; and; E. Opinion of counsel for the Fund or the Fund Transfer Agent stating: (1) The status of the shares of stock of the Fund in the new form under the 1933 Securities Act of 1933, as amended and any other applicable federal or state statute; and (2) That the issued shares in the new form are, and all unissued shares will be, when issued, validly issued, fully paid and nonassessable.