BERKELEY CAPITAL MANAGEMENT FUNDS
SUBSCRIPTION AGREEMENT
To the Board of Directors of the Berkeley Capital Management Funds:
The undersigned purchaser (the "Purchaser") hereby subscribes to the number
of shares (the "Shares") of beneficial interest of Berkeley Capital Management
Funds (the "Company") as follows:
Number Purchase
Series of Shares Price
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Berkeley Capital Management Money Market Fund 100,000 100,000
It is understood that a certificate representing the Shares shall not be
issued to the undersigned, but such ownership shall be recorded on the books and
records of the Company's transfer agent. Notwithstanding the fact that a
certificate representing ownership will not be issued, the Shares will be deemed
fully paid and nonassessable.
The purchaser agrees that the Shares are being purchased for investment
with no present intention to resell or redeem the shares.
There are no agreements or arrangements between the undersigned and the
Trust, or any of its officers, trustees, employees, or the investment manager of
the Trust, or any affiliated persons thereof with respect to the resale, future
distribution or redemption of the Shares.
The sale of Shares will only be made by redemption to the Trust and not by
a transfer to any third party without the consent of the Trust.
The undersigned is aware that in issuing and selling these Shares, the Fund
and the Trust are relying on the aforementioned representations.
The Purchaser acknowledges that costs incurred by the company in connection
with its organization, registration and initial public offering of Shares of the
company have been deferred and are being amortized over a period of five years
from the date upon which the Company commences its investment activities.
The Purchaser agrees that in the event any of the Shares purchased under
this Subscription Agreement are redeemed during this five year period, the
Company is authorized to reduce the redemption proceeds to cover any unamortized
organizational expenses in the same proportion as the number of Shares being
redeemed bears to the number of Shares outstanding at the time of redemption.
If, for any reason, the reduction of redemption proceeds is not in fact made by
the Company in the event of such a redemption, the Purchaser agrees to reimburse
the Company immediately for any unamortized organizational expenses in
proportion stated above.
BERKELEY CAPITAL MANAGEMENT FUNDS
SUBSCRIPTION AGREEMENT
Dated and effective as of the 8th day of January, 1997
Purchaser: Berkeley International Securities Corporation
By:
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Its:
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ACCEPTANCE
The foregoing subscription is hereby accepted.
Dated and effective as of the 8th day of January, 1997
Berkeley Capital Management Funds
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By: Xxxxxxx X. Xxxxxx, President
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Attest: By: Xxxxxx X. Xxxxxxxx, Secretary
