Exhibit 13
PURCHASE AGREEMENT
The PCS Cash Fund, Inc. (the "Fund"), a Maryland
corporation, and Xxxxxx Xxxxxxx & Co. Incorporated ("Xxxxxx
Xxxxxxx"), a Delaware corporation, intending to be legally bound,
hereby agree with each other as follows:
1. The Fund hereby offers Xxxxxx Xxxxxxx and Xxxxxx
Xxxxxxx hereby purchases the following shares of Common Stock of
the Fund (par value $.001 per share) (such shares hereinafter
sometimes collectively known as "Shares") at a price per Share
listed below.
Number of Purchase Price
Class of Common Stock Shares Purchased Per Share
A 33,000 $1
B 33,000 1
C 34,000 1
The Fund hereby acknowledges receipt from Xxxxxx Xxxxxxx of funds
in the amount of $100,000.00 in full payment for the Shares.
2. Xxxxxx Xxxxxxx represents and warrants to the Fund
that the Shares are being acquired for investment purposes and
not with a view to the distribution thereof.
3. Xxxxxx Xxxxxxx agrees that if it or any direct or
indirect transferee of any of the Shares redeems any of the
Shares prior to the fifth anniversary of the date the Fund begins
the investment activities, Xxxxxx Xxxxxxx will pay to the Fund an
amount equal of the number resulting from multiplying the Fund's
total unamortized organizational expenses by a fraction, the
numerator of which is equal to the number of Shares being
redeemed by Xxxxxx Xxxxxxx or such transferee and the denominator
of which is equal to the number of Shares that are being
purchased hereby and continue to be outstanding as of the date of
such redemption, as long as the administrative position of the
staff of the Securities and Exchange Commission requires such
reimbursement.
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IN WITNESS WHEREOF, the parties hereto have executed
this Agreement as of the _____ day of __________ 1989.
THE PCS CASH FUND, INC.
By: /s/ Xxxxxx X. Xxxxx
XXXXXX XXXXXXX & CO. INCORPORATED
By: /s/ Xxxxxx X. Xxxxx
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