Common use of Representations and Warranties of Each Fund Clause in Contracts

Representations and Warranties of Each Fund. Each Fund severally represents and warrants to the Administrator that: a. It is a corporation, duly organized, existing and in good standing under the laws of the State of Maryland; b. It has the corporate power and authority under applicable laws and by its charter and by-laws to enter into and perform this Agreement; c. All requisite proceedings have been taken to authorize it to enter into and perform this Agreement; d. It is an investment company properly registered under the 1940 Act; e. A registration statement under the 1933 Act and the 1940 Act has been filed and will be effective and remain effective during the term of this Agreement. Each Fund also warrants to the Administrator that as of the effective date of this Agreement, all necessary filings under the securities laws of the states in which the Fund offers or sells its shares have been made; f. No legal or administrative proceedings have been instituted or threatened which would impair the Fund's ability to perform its duties and obligations under this Agreement; g. Its entrance into this Agreement will not cause a material breach or be in material conflict with any other agreement or obligation of the Fund or any law or regulation applicable to it; and h. As of the close of business on the date of this Agreement, the Fund is authorized to issue shares of capital stock, and it will initially offer shares, in the authorized amounts as set forth in Schedule A to this Agreement.

Representations and Warranties of Each Fund. Each Fund severally represents and warrants to the Administrator that: a. It is a corporation, duly organized, existing and in good standing under the laws of the State of Maryland; b. It has the corporate power and authority under applicable laws and by its charter and by-laws to enter into and perform this Agreement; c. All requisite proceedings have been taken to authorize it to enter into and perform this Agreement; d. It is an investment company properly registered under the 1940 Act; e. A registration statement under the 1933 Act and the 1940 Act has been filed and will be effective and remain effective during the term of this Agreement. Each Fund also warrants to the Administrator that as of the effective date of this Agreement, all necessary filings under the securities laws of the states in which the Fund offers or sells its shares have been made; f. No legal or administrative proceedings have been instituted or threatened which would impair the Fund's ’s ability to perform its duties and obligations under this Agreement; g. Its entrance into this Agreement will not cause a material breach or be in material conflict with any other agreement or obligation of the Fund or any law or regulation applicable to it; and h. As of the close of business on the date of this Agreement, the Fund is authorized to issue shares of capital stock, and it will initially offer shares, in the authorized amounts as set forth in Schedule A to this Agreement.

Representations and Warranties of Each Fund. Each Fund severally represents and warrants to the Administrator that: a. It is either a corporationcorporation or business trust, duly organized, existing and in good standing under the laws of the State its state of Marylandformation; b. It has the corporate power and authority under applicable laws and by its charter and by-laws to enter into and perform this Agreement; c. All requisite proceedings have been taken to authorize it to enter into and perform this Agreement; d. It is an investment company properly registered under the 1940 Act; e. A registration statement under the 1933 Act and the 1940 Act has been filed and will be effective and remain effective during the term of this Agreement. Each Fund also warrants to the Administrator that as of the effective date of this Agreement, all necessary filings under the securities laws of the states in which the Fund offers or sells its shares have been made; f. No legal or administrative proceedings have been instituted or threatened which would impair the Fund's ’s ability to perform its duties and obligations under this Agreement; g. Its entrance into this Agreement will not cause a material breach or be in material conflict with any other agreement or obligation of the Fund or any law or regulation applicable to it; and; h. As of the close of business on the date of this Agreement, the each Fund is authorized to issue shares of beneficial interest or capital stock, as applicable, and it will initially offer shares, in the authorized amounts as set forth in Schedule A to this Agreement. i. Any person designated as an Authorized Person (as defined below) has the corporate power and authority to act on behalf of, and represent the interest of, each of the Funds.

Representations and Warranties of Each Fund. Each Fund severally represents and warrants to the Administrator that: a. It is either a corporationcorporation or business trust, duly organized, existing and in good standing under the laws of the State its state of Marylandformation; b. It has the corporate power and authority under applicable laws and by its charter and by-laws to enter into and perform this Agreement; c. All requisite proceedings have been taken to authorize it to enter into and perform this Agreement; d. It is an investment company properly registered under the 1940 Act; e. A registration statement under the 1933 Act and the 1940 Act has been filed and will be effective and remain effective during the term of this Agreement. Each Fund also warrants to the Administrator that as of the effective date of this Agreement, all necessary filings under the securities laws of the states in which the Fund offers or sells its shares have been made; f. No legal or administrative proceedings have been instituted or threatened which would impair the Fund's ability to perform its duties and obligations under this Agreement; g. Its entrance into this Agreement will not cause a material breach or be in material conflict with any other agreement or obligation of the Fund or any law or regulation applicable to it; and; h. As of the close of business on the date of this Agreement, the each Fund is authorized to issue shares of beneficial interest or capital stock, as applicable, and it will initially offer shares, in the authorized amounts as set forth in Schedule A to this Agreement.; i. Any person designated as an Authorized Person (as defined below) has the corporate power and authority to act on behalf of, and represent the interest of, each of the Funds.

Representations and Warranties of Each Fund. Each Fund severally represents and warrants to the Administrator that: a. It is a corporationlimited liability company, duly organized, existing and in good standing under the laws of the State of MarylandDelaware; b. It has the corporate requisite power and authority under applicable laws and by its charter Certificate of Formation and by-laws Limited Liability Company Agreement to enter into and perform this Agreement; c. All requisite proceedings have been taken to authorize it to enter into and perform this Agreement; d. It is an a closed-end, non-diversified management, investment company properly registered with the SEC under the 1940 Act; e. A registration statement under the 1933 Act and the 1940 Act has Its Registration Statement been filed and will be effective and remain effective during the term of this Agreement. Each Fund also warrants to the Administrator that as of the effective date of this Agreement, all necessary filings under the securities laws of the states in which the such Fund offers or sells its shares membership interests have been made; f. No legal or administrative proceedings have been instituted or threatened which would impair the such Fund's ’s ability to perform its duties and obligations under this Agreement; g. Its entrance into this Agreement will not cause a material breach or be in material conflict with any other agreement or obligation of the such Fund or any law or regulation applicable to it; and h. As of the close of business on the date of this Agreement, the such Fund is authorized to issue shares of capital stock, and it will initially offer shares, in the authorized amounts as set forth in Schedule A to this Agreementunlimited Units.

Representations and Warranties of Each Fund. Each Fund severally represents and warrants to the Administrator that: a. It is either a corporationcorporation or business trust, duly organized, existing and in good standing under the laws of the State its state of Marylandformation; b. It has the corporate power and authority under applicable laws and by its charter and by-laws to enter into and perform this Agreement; c. All requisite proceedings have been taken to authorize it to enter into and perform this Agreement; d. It is an investment company properly registered under the 1940 Act; e. A registration statement under the 1933 Act and the 1940 Act has been filed and will be effective and remain effective during the term of this Agreement. Each Fund also warrants to the Administrator that as of the effective date of this Agreement, all necessary filings under the securities laws of the states in which the Fund offers or sells its shares have been made; f. No legal or administrative proceedings have been instituted or threatened which would impair the Fund's ’s ability to perform its duties and obligations under this Agreement; g. Its entrance into this Agreement will not cause a material breach or be in material conflict with any other agreement or obligation of the Fund or any law or regulation applicable to it; and; h. As of the close of business on the date of this Agreement, the each Fund is authorized to issue shares of beneficial interest or capital stock, as applicable, and it will initially offer shares, in the authorized amounts as set forth in Schedule A to this Agreement; i. Any person designated as an Authorized Person (as defined below) has the corporate power and authority to act on behalf of, and represent the interest of, each of the Funds.

Representations and Warranties of Each Fund. Each Fund severally represents and warrants to the Administrator that: a. It is a corporationcorporation or a trust, duly organized, existing and and, if a corporation, in good standing under the laws of the State state of Marylandits organization; b. It has the corporate power and authority under applicable laws and by its charter and by-laws to enter into and perform this Agreement; c. All requisite proceedings have been taken to authorize it to enter into and perform this Agreement; d. It is an investment company properly registered under the 1940 Act; e. A registration statement under the 1933 Act and the 1940 Act has been filed and will be effective and remain effective during the term of this Agreement. Each The Fund also warrants to the Administrator that as of the effective date of this Agreement, all necessary filings under the securities laws of the states in which the Fund offers or sells its shares have been made; f. No legal or administrative proceedings have been instituted or threatened which would impair the Fund's ability to perform its duties and obligations under this Agreement; g. Its entrance into this Agreement will not cause a material breach or be in material conflict with any other agreement or obligation of the Fund or any law or regulation applicable to it; and h. As of the close of business on the date of this Agreement, the each Fund is authorized to issue shares of capital stockstock or beneficial interest, as the case may be, and it will initially offer shares, in the authorized amounts as set forth in Schedule A to this Agreementamounts.