Exhibit 23(l)
SUBSCRIPTION AGREEMENT
SUBSCRIPTION AGREEMENT, dated as of November 9, 1999 (this
"Agreement"), is by and between Venus Capital Management, Inc. (the
"Subscriber") and Venus Series Trust (the "Trust").
R E C I T A L S
WHEREAS, the Subscriber wishes to purchase shares of the India
Technology Fund, a series of shares of the Trust (the "Shares"), and the Trust
wishes to issue and sell the Shares to Subscriber.
A G R E E M E N T
NOW, THEREFORE, pursuant to the provision set forth in this
Agreement, the parties to this Agreement hereby agree as follows:
SECTION 1. Subscription of Shares. Subscriber hereby agrees to
purchase from the Trust, and the Trust hereby agrees to sell to Subscriber,
50,000 Shares for an aggregate purchase price of Five Hundred Thousand and
00/100 Dollars ($500,000) (the "Purchase Price").
SECTION 2. Payment of Purchase Price. Subscriber shall pay the
Purchase Price to the Trust by personal check or wire transfer in accordance
with the instructions of the Trust.
SECTION 3. Miscellaneous. This Agreement may not be amended,
modified or supplemented except in writing signed by both Subscriber and the
Trust. This Agreement shall be governed by, and shall be construed in accordance
with, the internal laws of the State of New York (without giving effect to any
conflict of law principles). Subscriber and the Trust hereby submit to the
jurisdiction of any New York state or federal court sitting in New York County
over any suit, action or proceeding arising out of or relating to this
Agreement. This Agreement may be executed in counterparts, each of which shall
be deemed an original and both of which shall together constitute one and the
same instrument. Section headings in this Agreement are for reference only and
shall not affect the construction, scope or enforceability of the provisions in
this Agreement.
[SIGNATURES ON FOLLOWING PAGE]
IN WITNESS WHEREOF, the parties have duly executed this Agreement as
of the date first above written.
VENUS SERIES TRUST
By: /s/ Xxxxx Xxxxxxxx
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Xxxxx Xxxxxxxx
Trustee
VENUS CAPITAL MANAGEMENT, INC.
By: /s/ Xxxxx Xxxxxxxx
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Xxxxx Xxxxxxxx
President
