Common use of Representations, Warranties and Agreements of the Fund Clause in Contracts

Representations, Warranties and Agreements of the Fund. By their approval of this Agreement the Trustees represent, warrant and agree that: (a) The Fund is not prohibited by the 1940 Act or other applicable federal or state law from performing their obligations under this Agreement. (b) The Fund is duly organized and validly existing under the laws of the State in which it was organized with the power to own and posses its assets and carry on its business as it is now being conducted. (c) The Fund has taken all necessary action, and have obtained all necessary licenses, authorizations and approvals, to permit the Fund to enter into this Agreement, which Agreement constitutes the Fund's legal, valid and binding obligation, enforceable in accordance with its terms; and the execution, delivery and performance by the Fund of this Agreement does not contravene or constitute a default under any agreement binding upon the Fund. 19.