Common use of Tax-Exempt Mutual Funds Clause in Contracts

Tax-Exempt Mutual Funds. an interest in a regulated investment company to the extent that at least 95% of the income to the holder of such interest is interest excludable from gross income under section 103(a) of the Code and is not an item of tax preference.

Tax-Exempt Mutual Funds. an interest in a regulated investment company to the extent that at least 95% of the income to the holder of such interest is interest excludable from gross income under section Section 103(a) of the Code and is not an item of tax preference.