EXHIBIT-(l)(xiv)
PURCHASE AGREEMENT
The Xxxxxxx Xxxxxx Family of Funds (the "Trust"), a Massachusetts
business trust, and Xxxxxxx Xxxxxx & Co., Inc. ("Schwab"), a California
corporation, hereby agree as follows:
1. The Trust hereby offers and Schwab hereby purchases 1 unit of
beneficial interest of the Trust representing an interest in the series known as
the Schwab Massachusetts Municipal Money Fund (such 1 unit of beneficial
interest being hereafter collectively known as the "Share") at a price of $1.00
per Share. Schwab hereby acknowledges purchase of the Share and the Trust hereby
acknowledges receipt from Schwab of funds in the amount of $1.00 in full payment
for the Share. It is further agreed that no certificate for the Share will be
issued by the Trust.
2. Schwab represents and warrants to the Trust that the Share is
being acquired for investment purposes and not with a view of the distribution
thereof.
3. The names "The Xxxxxxx Xxxxxx Family of Funds" and "Trustees
of The Xxxxxxx Xxxxxx Family of Funds" refer, respectively, to the Trust created
and the Trustees as Trustees but not individually or personally, acting from
time to time under an Agreement and Declaration of Trust dated as of October 20,
1989, as amended and restated on May 9, 1995, to which referenceis hereby made
and a copy of which is on file at the Office of the Secretary of State of the
Commonwealth of Massachusetts and elsewhere as required by law, and to any and
all amendments thereto so filed or hereafter filed. The obligations of "The
Xxxxxxx Xxxxxx Family of Funds" entered into in the name or on behalf thereof by
any of the Trustees, representatives or agents are not made individually, but
only in such capacities, and are not binding upon any of the Trustees,
Shareholders or representatives of the Trust personally, but bind only the
assets of the Trust, and all persons dealing with any series of shares of the
Trust must look solely to the assets of the Trust belonging to such series for
the enforcement of any claims against the Trust.
IN WITNESS WHEREOF, the parties hereto have executed the Agreement as
of the 21st day of April, 2003.
Attest: THE XXXXXXX XXXXXX FAMILY OF FUNDS
/s/ Xxxxxxxx Xxxxxxx By: /s/ Xxxxxxx X. Xxxx
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Xxxxxxx X. Xxxx,
Senior Vice President
and Chief Investment Officer
Attest: XXXXXXX XXXXXX & CO., INC.
/s/ Xxxxxxxx Xxxxxxx By: /s/ Xxxxxxx X. Xxxx
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Xxxxxxx X. Xxxx,
Executive Vice President
