Tax Status and Filings. Each of the Moderate Fund and the Conservative Fund (the “Funds”) represents and warrants that: (a) At the Closing Date, all federal and other tax returns and reports of the Funds required by law to have been filed by such date shall have been filed, and all federal and other taxes due and payable shall have been paid, or provision shall have been made for the payment thereof. To the best of the Funds knowledge, no such return is currently under audit by the IRS or any state or local tax authority, and no assessment has been asserted with respect to such returns. (b) For each fiscal year of its operation, the Funds have met, and will continue to meet through the Closing Date, the requirements of Subchapter M of the Code for qualification and treatment as a regulated investment company and have distributed in each such year all net investment company taxable income (computed without regard to any deduction for dividends paid) and net realized capital gains (after reduction for any capital loss carryforward).
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Samples: Agreement and Plan of Reorganization (Wt Mutual Fund), Agreement and Plan of Reorganization (Wt Mutual Fund), Agreement and Plan of Reorganization (Wt Mutual Fund)
Tax Status and Filings. Each of the Moderate Large-Cap Core Fund and the Conservative Multi-Manager Fund (the “Funds”) represents and warrants that:
(a) At the Closing Date, all federal and other tax returns and reports of the Funds fund required by law to have been filed by such date shall have been filed, and all federal and other taxes due and payable shall have been paid, or provision shall have been made for the payment thereof. To the best of the Funds fund’s knowledge, no such return is currently under audit by the IRS or any state or local tax authority, and no assessment has been asserted with respect to such returns.
(b) For each fiscal year of its operation, the Funds have fund has met, and will continue to meet through the Closing Date, the requirements of Subchapter M of the Code for qualification and treatment as a regulated investment company and have has distributed in each such year all net investment company taxable income (computed without regard to any deduction for dividends paid) and net realized capital gains (after reduction for any capital loss carryforward).
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