Exhibit 13(b)
PURCHASE AGREEMENT
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The Xxxxx Fund (the "Fund"), an unincorporated business trust organized
under the laws of the Commonwealth of Massachusetts, and Xxxx Xxxxx Management,
Inc. ("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 XxxXxx 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 March 20, 1986, 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 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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