EXHIBIT 99.l(1)
PURCHASE AGREEMENT
Warburg, Xxxxxx Global Financial Services Fund, Inc. (the "Fund"), a
corporation organized under the laws of the State of Maryland, and Credit Suisse
Asset Management, LLC ("CSAM") hereby agree as follows:
1. The Fund offers CSAM and CSAM hereby purchases 10,000 shares of
common stock of the Fund, which shall be designated Common Class Shares, having
a par value $.001 per share (the "Shares"), at a price of $10.00 per Share (the
"Initial Shares"). CSAM hereby acknowledges receipt of a certificate
representing the Initial Shares and the Fund hereby acknowledges receipt from
CSAM of $100,000.00 in full payment for the Initial Shares.
2. CSAM represents and warrants to the Fund that the Initial Shares
are being acquired for investment purposes and not for the purpose of
distributing them.
3. CSAM agrees that if any holder of the Initial Shares redeems such
Shares in the Fund before one year after the date upon which the Fund commences
its investment activities, the redemption proceeds will be reduced by the amount
of unamortized organizational and offering expenses, in the same proportion as
the Initial Shares being redeemed bears to the Initial Shares outstanding at the
time of redemption. The parties hereby acknowledge that any Shares acquired by
CSAM other than the Initial Shares have not been acquired to fulfill the
requirements of Section 14 of the Investment Company Act of 1940, as amended,
and, if redeemed, their redemption proceeds will not be subject to reduction
based on the unamortized organizational and offering expenses of the Fund.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as
of the 14th day of December, 2000.
WARBURG, XXXXXX GLOBAL FINANCIAL
SERVICES FUND, INC.
By: /s/ Xxx Xxxxxx
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Name: Xxx Xxxxxx
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Title: Vice President and Secretary
ATTEST:
/s/ Xxxxxx X. Xxxxx
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CREDIT SUISSE ASSET MANAGEMENT, LLC
By: /s/ Xxx Xxxxxx
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Name: Xxx Xxxxxx
Title: Managing Director and General Counsel
ATTEST:
/s/ Xxxxxx X. Xxxxx
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