EXHIBIT 13(c)
PURCHASE AGREEMENT
The Xxxxx American Fund (the "Fund"), an unincorporated business trust
organized under the laws of the Commonwealth of Massachusetts, and Xxxx Xxxxx &
Company, Incorporated ("Xxxxx"), hereby agree as follows:
1. The Fund hereby offers Xxxxx and Xxxxx hereby purchases one (1)
share of beneficial interest of the Fund, par value $.001 per share
(the "Share"), consisting of one (1) Share in the Xxxxx American
MidCap Growth Portfolio, at a price of $10.00 per share. Xxxxx
hereby acknowledges receipt of the Share acquired in the Portfolio
and the Fund hereby acknowledges receipt from Xxxxx of $10.00 in
full payment for the Share.
2. Xxxxx represents and warrants to the Fund that the Share is being
acquired for investment purposes and not for the purpose of
distribution.
3. Xxxxx agrees that if it redeems the Share before five years after
the date of this Agreement, it will pay to the Fund an amount that
is equal to the number resulting from multiplying the Fund's total
unamortized organizational expenses allocable to the Portfolio by a
fraction, the numerator of which is equal to the number of Shares of
the Portfolio redeemed and the denominator of which is equal to the
aggregate number of Shares of the Portfolio outstanding at the time
of such redemption.
4. The Fund represents that a copy of its Agreement and Declaration
of Trust, dated April 6, 1988, together with all amendments thereto,
is on file in the office of the Secretary of the Commonwealth of
Massachusetts.
5. This Agreement has been executed on behalf of the Fund by the
undersigned officer of the Fund in his capacity as an officer of the
Fund. The obligations of this Agreement shall be binding upon the
assets and property of the Fund only and shall not be binding upon
any Trustee, officer or shareholder of the Fund individually.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
the 26th day of April, 1993.
THE XXXXX AMERICAN FUND
By: /s/ Xxxxxxx X. Xxxx
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ATTEST:
/s/ Xxxxx Staple
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XXXX XXXXX MANAGEMENT, INC.
By: /s/ Xxxxxxx X. Xxxx
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ATTEST:
/s/ Xxxxx Staple
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