Exhibit 99.(L)
PURCHASE AGREEMENT
Hotchkis and Wiley Funds (the Fund), an open-end management investment
company and a Delaware business trust, and Hotchkis and Wiley Capital
Management, LLC (H&W), a Delaware limited liability company, intending to be
legally bound, hereby agree as follows:
1. In order to provide the Fund with its initial capital, the Fund
hereby sells to H&W, and H&W hereby purchases, 1 share of beneficial interest
(the Share) of the Hotchkis and Wiley Equity Fund for Insurance Companies, at
the net asset value of $10.00 per share. The Fund hereby acknowledges receipt
from H&W of funds in the amount of $10.00 in full payment for the Share.
2. H&W represents and warrants to the Fund that the Share is being
acquired for investment and not with a view to distribution thereof and that H&W
has no present intention to redeem and dispose of the Share. H&W agrees that it
will not redeem its $10.00 investment before the series acquires the assets and
liabilities of its counterpart series of the Mercury HW Funds.
IN WITNESS THEREOF, the parties have executed this agreement as of the
17th day of October, 2001.
HOTCHKIS AND WILEY FUNDS
By /s/ Xxxxx X. Xxxxxx
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HOTCHKIS AND WILEY CAPITAL
MANAGEMENT, LLC
By /s/ Xxxxx X. Xxxxxx
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PURCHASE AGREEMENT
Hotchkis and Wiley Funds (the Fund), an open-end management investment
company and a Delaware business trust, and Xxxxxxxx Inc. (Xxxxxxxx), an Arkansas
corporation, intending to be legally bound, hereby agree as follows:
1. In order to provide the Fund with its initial capital, the Fund
hereby sells to Xxxxxxxx, and Xxxxxxxx hereby purchases, 10,000 shares of
beneficial interest (the Shares) of the Fund. The Shares are apportioned as
follows:
Hotchkis and Wiley Large Cap Value Fund
833 Class I Shares
833 Class A Shares
833 Class B Shares
833 Class C Shares
Hotchkis and Wiley Mid- Cap Value Fund
833 Class I Shares
833 Class A Shares
833 Class B Shares
833 Class C Shares
Hotchkis and Wiley Small Cap Value Fund
833 Class I Shares
833 Class A Shares
833 Class B Shares
833 Class C Shares
each at the net asset value of $10.00 per share. The Fund hereby
acknowledges receipt from Xxxxxxxx of funds in the amount of $100,000 in full
payment for the Shares.
2. Xxxxxxxx represents and warrants to the Fund that the Shares are
being acquired for investment and not with a view to distribution thereof and
that Xxxxxxxx has no present intention to redeem and dispose of any of the
Shares. Xxxxxxxx agrees that it will not redeem its $100,000 investment before
each series acquires the assets and liabilities of its counterpart series of the
Mercury HW Funds.
IN WITNESS THEREOF, the parties have executed this agreement as of the
17th day of October, 2001.
HOTCHKIS AND WILEY FUNDS
By /s/ Xxxxx X. Xxxxxx
---------------------------------
XXXXXXXX INC.
By /s/ Xxxxxxx X. Xxxxx Xx.
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