SUBSCRIPTION AGREEMENT
ADVISORS SERIES TRUST (the"Trust"), an open-end management investment
trust, and Xxxxxxxx Xxxxxxxxx (the "Investor"), intending to be legally bound,
hereby agree as follows:
1. In order to provide the Trust with its initial capital, the Trust
hereby sells to the Investor, and the Investor hereby purchases, 5,000 shares of
beneficial interest of the Trust (the "Shares"), at a price of $10.00 per share.
The Trust hereby acknowledges receipt from the Investor of funds in the amount
of $50,000 in full payment for the Shares.
2. The Investor represents and warrants to the Trust that the Shares
are being acquired for investment and not with a view to distribution thereof
and that the Investor has no present intention to redeem or dispose of any of
the Shares.
3. The Investor agrees that:
(i) in the event that any of the Shares are redeemed prior to
the end of the period of amortization of the Trust's organization
costs, the proceeds of the redemption payable in respect of those
shares will be reduced by the pro rata share (based on the
proportionate share of the original shares redeemed to the total number
of original shares outstanding at the time of redemption) of the
unamortized deferred organization costs as of the date of that
redemption; and
(ii) in the event the Fund is liquidated prior to the end of
the amortization period the Investor will bear 50% of the unamortized
organization costs.
IN WITNESS WHEREOF, the parties have executed this Agreement this 25th
day of February, 1997.
ADVISORS SERIES TRUST
By: /s/ Xxxxxx X. Xxxxxxxxx /s/ Xxxxxxxx Xxxxxxxxx
Assistant Secretary
SUBSCRIPTION AGREEMENT
ADVISORS SERIES TRUST (the "Trust"), an open-end management investment
trust, and Xxxx Xxxxxxx (the "Investor"), intending to be legally bound, hereby
agree as follows:
1. In order to provide the Trust with its initial capital, the Trust
hereby sells to the Investor, and the Investor hereby purchases, 2,500 shares of
beneficial interest of the Trust (the "Shares"), at a price of $20.00 per share.
The Trust hereby acknowledges receipt from the Investor of funds in the amount
of $50,000 in full payment for the Shares.
2. The Investor represents and warrants to the Trust that the Shares
are being acquired for investment and not with a view to distribution thereof
and that the Investor has no present intention to redeem or dispose of any of
the Shares.
3. The Investor agrees that:
(i) in the event that any of the Shares are redeemed prior to
the end of the period of amortization of the Trust's organization
costs, the proceeds of the redemption payable in respect of those
shares will be reduced by the pro rata share (based on the
proportionate share of the original shares redeemed to the total number
of original shares outstanding at the time of redemption) of the
unamortized deferred organization costs as of the date of that
redemption; and
(ii) in the event the Fund is liquidated prior to the end of
the amortization period the Investor will bear 50% of the unamortized
organization costs.
IN WITNESS WHEREOF, the parties have executed this Agreement this 25th
day of February, 1997.
ADVISORS SERIES TRUST
By: /s/ Xxxxxx X. Xxxxxxxxx /s/ Xxxx Xxxxxxx
Assistant Secretary
