AGREEMENT AND PLAN OF REORGANIZATION
Execution Version
AGREEMENT AND PLAN OF REORGANIZATION
THIS AGREEMENT AND PLAN OF REORGANIZATION (“Agreement”) is adopted as of this 22nd day of May, 2019 by and among: (i) each of the Xxxxxxxxxxx open-end registered investment companies identified as a Target Entity on Exhibit A hereto (each a “Target Entity”), separately, where applicable, on behalf of its respective series identified on Exhibit A hereto (each a “Target Fund”); and (ii) each of the Invesco open-end registered investment companies identified as an Acquiring Entity on Exhibit A hereto (each an “Acquiring Entity”), separately, on behalf of its respective series identified on Exhibit A hereto (each an “Acquiring Fund”). OFI Global Asset Management, Inc. (“OFI Global”), OFI SteelPath, Inc. (“OFI SteelPath”) and Invesco Advisers, Inc. (“IAI”) join this Agreement solely for purposes of Sections 1.2(c), 1.2(f), 5.1(a), 10, 14, 15, 17.1, 17.2, 17.3, 17.6 and 18.
WHEREAS, the parties hereto intend for each Acquiring Fund and the corresponding Target Fund (as set forth in Exhibit A hereto) to enter into a transaction pursuant to which: (i) the Acquiring Fund will acquire the Assets and Liabilities (as each such term is defined in Section 1.2) of the Target Fund in exchange for the corresponding class or classes of shares (as applicable) of the Acquiring Fund of equal value to the net assets of the Target Fund being acquired, and (ii) the Target Fund will distribute such shares of the Acquiring Fund to shareholders of the corresponding class of the Target Fund, in connection with the liquidation of the Target Fund, all upon the terms and conditions hereinafter set forth in this Agreement (each such transaction, a “Reorganization” and collectively, the “Reorganizations”). Each Acquiring Fund is, and will be immediately prior to Closing (defined in Section 3.1), a shell series, without assets or liabilities, created solely for the purpose of acquiring the Assets and Liabilities (each as defined in Section 1.2) of the Target Fund;
WHEREAS, each Target Entity and each Acquiring Entity is an open-end, registered investment company of the management type; and
WHEREAS, this Agreement is intended to be and is adopted as a plan of reorganization and liquidation with respect to each Reorganization within the meaning of Section 368(a)(1) of the United States Internal Revenue Code of 1986, as amended (“Code”).
NOW, THEREFORE, in consideration of the premises and of the covenants and agreements hereinafter set forth, the parties hereto covenant and agree as follows:
| 1. | DESCRIPTION OF THE REORGANIZATIONS |
1.1. It is the intention of the parties hereto that each Reorganization described herein shall be conducted separately of the others, and a party that is not a party to a Reorganization shall incur no obligations, duties or liabilities with respect to such Reorganization by reason of being a party to this Agreement. If any one or more Reorganizations should fail to be consummated, such failure shall not affect the other Reorganizations in any way.
1.2. Provided that all conditions precedent to a Reorganization set forth herein have been satisfied or, to the extent legally permissible, waived as of the Closing Time (defined in Section 3.1), and based on the representations and warranties each party provides to the other,
each Target Entity and its corresponding Acquiring Entity agree to take the following steps with respect to their Reorganization(s), the parties to which and classes of shares to be issued in connection with which are set forth in Exhibit A:
(a) The Target Fund shall transfer all of its Assets, as defined and set forth in Section 1.2(b), to the Acquiring Fund, and the Acquiring Fund in exchange therefor shall assume the Liabilities, as defined and set forth in Section 1.2(c), and deliver to the Target Fund the number of full and fractional Acquiring Fund shares determined in the manner set forth in Section 2.
(b) The assets of the Target Fund to be transferred to the Acquiring Fund shall consist of all assets and property, including, without limitation, all rights, cash, securities, commodities and futures interests, forwards, swaps and other financial instruments, claims (whether absolute or contingent, known or unknown, accrued or unaccrued and including, without limitation, any interest in pending or future legal claims in connection with past or present portfolio holdings, whether in the form of class action claims, opt-out or other direct litigation claims, or regulator or government-established investor recovery fund claims, and any and all resulting recoveries), receivables (including dividends, interest, principal, subscriptions and other receivables), goodwill and other intangible property, and choses in action, copies of all books and records belonging to the Target Fund (including all books and records required to be maintained under the Investment Company Act of 1940, as amended (the “1940 Act”)), any deferred or prepaid expenses shown as an asset on the books of the Target Fund as of the Closing Time, and all interests, rights, privileges and powers, other than the Target Fund’s rights under this Agreement on the Closing Date as defined in Section 2.1(a) (collectively, “Assets”), but excluding any assets set forth in Schedule 1.2(b) (collectively, “Excluded Assets”). For the avoidance of doubt, any Excluded Assets shall remain the property of the Target Fund and Acquiring Fund shall have no rights thereunder.
(c) The Acquiring Fund shall assume all of the liabilities of the Target Fund, whether accrued or contingent, known or unknown, existing at the Closing Date, except for the Target Fund’s Excluded Liabilities (as defined below), if any, pursuant to this Agreement (collectively, with respect to each Target Fund separately, “Liabilities”). Each Target Fund will use commercially reasonable efforts to discharge all known Liabilities prior to or at the Closing Date (as defined in Section 2.1(a)) to the extent possible and consistent with its own investment objectives and policies and normal business operations. If prior to the Closing Date the Acquiring Entity identifies a liability that the Acquiring Entity and the Target Entity mutually agree should not be assumed by the Acquiring Fund, such liability shall be excluded from the definition of Liabilities hereunder and shall be listed on a Schedule of Excluded Liabilities to be signed by the Acquiring Entity and the Target Entity at Closing and attached to this Agreement as Schedule 1.2(c) (the “Excluded Liabilities”). Any liabilities arising from the termination by the Target Fund of contracts pursuant to Section 4.1(h) of this Agreement shall also be Excluded Liabilities and shall be borne by IAI, OFI Global and OFI SteelPath in accordance with Section 10.2 of this Agreement. The Assets minus the Liabilities of a Target Fund shall be referred to herein as the Target Fund’s “Net Assets.”
- 2 -
(d) As soon as is reasonably practicable after the Closing, the Target Fund will distribute to its shareholders of record (“Target Fund Shareholders”) the shares of the Acquiring Fund of the corresponding class received by the Target Fund pursuant to Section 1.2(a), as set forth in Exhibit A, on a pro rata basis within that class, and without further notice the outstanding shares of the Target Fund will be redeemed and cancelled as permitted by its Governing Documents (as defined in Section 4.1) and applicable law, and the Target Fund will as promptly as practicable completely liquidate and dissolve as permitted by its Governing Documents and applicable law. Such distribution to the Target Fund Shareholders and liquidation of the Target Fund will be accomplished, with respect to each class of the Target Fund’s shares, by the transfer of the Acquiring Fund’s shares of the corresponding class then credited to the account of the Target Fund on the books of the Acquiring Fund to open accounts on the share records of the Acquiring Fund in the names of the Target Fund Shareholders of the class. The aggregate net asset value of the Acquiring Fund’s shares to be so credited to the corresponding Target Fund Shareholders shall be equal to the aggregate net asset value of the corresponding Target Fund’s shares owned by the Target Fund Shareholders on the Closing Date. The Acquiring Fund shall not issue certificates representing shares in connection with such exchange.
(e) Ownership of the Acquiring Fund’s shares will be shown on its books, as such are maintained by the Acquiring Fund’s transfer agent.
(f) Beginning at least forty-five (45) business days prior to the Closing Date, the Target Fund will provide IAI and the Acquiring Fund with a daily schedule of the Assets then held by the Target Fund, with current market values. At least thirty (30) business days prior to the Closing Date, and ten (10) business days prior to the Closing Date, IAI, on behalf of the Acquiring Fund, will advise OFI Global, OFI SteelPath and the Target Fund of any investments of the Target Fund shown on the Target Fund’s schedule of Assets that the Acquiring Fund has advised it that the Acquiring Fund would not be permitted to hold (i) under its investment restrictions; (ii) under applicable law; or (iii) because the transfer of such investments would result in material operational or administrative difficulties (including relating to valuation matters) to the Acquiring Fund in connection with facilitating the orderly transition of the Target Fund’s Assets to the Acquiring Fund. Under such circumstances, to the extent practicable, the Target Fund will, if requested by the Acquiring Fund and, if in the Target Fund’s discretion to the extent permissible and consistent with its own investment objectives and policies and the fiduciary duties of the investment adviser responsible for the portfolio management of the Target Fund, attempt to dispose of such investments prior to the Closing Date. Notwithstanding the foregoing, nothing herein will permit or require the Target Fund to dispose of any Assets, if, in the reasonable judgment of the Target Entity’s board of trustees or the Target Fund’s investment adviser, such disposition would adversely affect the tax-free nature of the Reorganization for U.S. federal income tax purposes, or would adversely affect the Target Fund’s status as a “regulated investment company” under the Code or would otherwise not be in the best interests of the Target Fund.
- 3 -
(g) OFI Global or OFI SteelPath (as applicable), on behalf of the Target Fund, shall notify the Acquiring Fund of any portfolio security held by the Target Fund in other than book-entry form at least thirty (30) business days prior to the Closing Date.
(h) Any transfer taxes payable upon issuance of the Acquiring Fund’s shares in a name other than the registered holder of the Target Fund’s shares on the books and records of the Target Fund as of that time shall, as a condition of such issuance and transfer, be paid by the person to whom the Acquiring Fund’s shares are to be issued and transferred.
(i) Immediately after the Closing Time, the share transfer books relating to the Target Fund shall be closed and no transfer of shares shall thereafter be made on such books.
| 2. | VALUATION |
2.1. With respect to each Reorganization:
(a) The value of the Target Fund’s Assets shall be the value of such Assets computed as of immediately after the close of regular trading on the New York Stock Exchange (“NYSE”), which shall reflect the declaration of any dividends, on the Closing Date, using the valuation methodologies set forth in the then-current prospectus for the Target Fund and the valuation procedures established by the Target Entity’s board of trustees. On the Closing Date, the Target Fund shall record the value of the Assets, as valued pursuant to this Section 2.1(a), on a valuation report (the “Valuation Report”) and deliver a copy of the Valuation Report to the Acquiring Fund by 7:00 p.m. (Eastern time) on the Closing Date, or as soon as practicable thereafter.
(b) The net asset value per share of each class of the Acquiring Fund shares issued in connection with the Reorganization shall be the net asset value per share of the corresponding class of the Target Fund as of the close of business on the Closing Date, provided that, if more than one class of shares of the Target Fund is being exchanged for a single class of shares of the Acquiring Fund, then the net asset value per share of such class of shares of the Acquiring Fund issued in connection with the Reorganization shall be the net asset value per share of the corresponding class of the Target Fund having attributes most consistent with the Acquiring Fund share class, as determined by the Acquiring Fund (the “Primary Share Class”), or the net asset value of such other class of shares of the Target Fund as the parties may mutually agree.
(c) The number of shares of each class of the Acquiring Fund (including fractional shares, if any, rounded to the nearest thousandth) issued in exchange for the Target Fund’s Net Assets shall equal the number of shares of the corresponding class of the Target Fund outstanding as of the Closing Date, provided that if two or more classes of shares of the Target Fund are exchanged for a single class of shares of the Acquiring Fund, then the number of Acquiring Fund shares issued with respect to each such Target Fund class, other than the Primary Share Class, shall equal the quotient of the net asset value of such class divided by the net asset value per share of the Primary Share Class, all
- 4 -
as of the Closing Time. All Acquiring Fund shares delivered to a Target Fund will be delivered at net asset value without the imposition of a sales load, commission, transaction fee or other similar fee.
(d) All computations of value shall be made by the Target Fund or its designated recordkeeping agent using the valuation procedures described in this Section 2 and shall be subject to review by the Acquiring Fund and/or its recordkeeping agent, and, if requested by either the Target Entity or the Acquiring Entity, by the independent registered public accountant of the requesting party.
| 3. | CLOSING AND CLOSING DATE |
3.1. Each Reorganization shall close on the date of the closing of the transactions contemplated by that certain Agreement and Plan of Merger (the “Transaction Agreement”) dated as of October 17, 2018, by and among Invesco Ltd., a Bermuda exempted company, Gem Acquisition Corp., a Delaware corporation, Gem Acquisition Two Corp., a Delaware corporation, MM Asset Management Holding LLC, a Delaware limited liability company, and Xxxxxxxxxxx Acquisition Corp., a Delaware corporation, or such other date as the parties may mutually agree with respect to any or all Reorganizations (the “Closing Date”). All acts taking place at the closing of a Reorganization (“Closing”) shall, subject to the satisfaction or waiver of the conditions in this Agreement, be deemed to take place simultaneously as of the later of 7:01 p.m. Eastern time or the finalization of the applicable Target Fund’s net asset value on the Closing Date of that Reorganization, unless otherwise agreed to by the parties (the “Closing Time”). The Closing of each Reorganization shall be held in person, by facsimile, email or such other communication means as the parties may reasonably agree.
3.2. With respect to each Reorganization:
(a) The Target Fund’s portfolio securities, investments or other assets that are represented by a certificate or other written instrument shall be transferred, presented and delivered by the Target Fund as of the Closing Time or as soon as practicable thereafter to the Acquiring Fund by directing that the Target Fund’s custodian (the “Custodian”) transfer and deliver them from the account of the Target Fund (the “Target Account”) to an account of the Acquiring Fund at the Custodian (the “Acquiring Account”) duly endorsed in proper form for transfer and in such condition as to constitute good delivery thereof. The Target Fund shall direct the Custodian to transfer and deliver to the Acquiring Account as of the Closing Date by book entry, in accordance with the customary practices of the Custodian and any securities depository (as defined in Rule 17f-4 under the 1940 Act), in which the Assets are deposited, the Target Fund’s portfolio securities and instruments so held. The cash to be transferred by the Target Fund shall be transferred from the Target Account to the Acquiring Account by wire transfer of federal funds or other appropriate means on the Closing Date. If the Target Fund is unable to make such delivery on the Closing Date in the manner contemplated by this Section for the reason that any of such securities or other investments purchased prior to the Closing Date have not yet been delivered to the Target Fund or its broker, then the Acquiring Fund may, in its sole discretion, waive the delivery requirements of this Section with respect to said undelivered securities or other investments if the Target Fund has, by or
- 5 -
on the Closing Date, delivered to the Acquiring Fund or its Custodian executed copies of an agreement of assignment and escrow and due bills executed on behalf of said broker or brokers, together with such other documents as may be required by the Acquiring Fund or its Custodian, such as brokers’ confirmation slips.
(b) The Target Entity shall direct the Custodian for the Target Fund to deliver, at the Closing or as soon as practicable thereafter, a certificate of an authorized officer stating that (i) except as permitted by Section 3.2(a), the Assets have been delivered in proper form to the Acquiring Fund no later than the Closing Time on the Closing Date, and (ii) all necessary Taxes (as defined below) in connection with the delivery of the Assets, including all applicable federal, state and foreign stock transfer stamps, if any, have been paid or provision for payment has been made. At the Closing, or as soon as practicable thereafter, the Acquiring Entity will cause the Custodian to deliver a certificate of an authorized officer acknowledging that the Acquiring Fund has received the Target Fund portfolio securities, cash and any other Assets as of the final settlement date for such transfers.
(c) At such time prior to the Closing Date as the parties mutually agree, the Target Fund shall instruct its transfer agent (the “Target Transfer Agent”) to provide instructions and related information to the Acquiring Fund or its transfer agent with respect to the Target Fund Shareholders, including names, addresses, dividend reinvestment elections, if any, and tax withholding status of the Target Fund Shareholders as of the date agreed upon (such information to be updated as of the Closing Date, as necessary). The Acquiring Fund and its transfer agent shall have no obligation to inquire as to the validity, propriety or correctness of any such instruction, information or documentation, but shall, in each case, assume that such instruction, information or documentation is valid, proper, correct and complete.
(d) The Target Entity shall direct the Target Transfer Agent to deliver to the Acquiring Fund at the Closing a certificate of an authorized officer stating that its records, as provided to the Acquiring Fund, contain the names and addresses of the Target Fund Shareholders and the number of outstanding shares of each class owned by each such shareholder immediately prior to the Closing. At the Closing, each party shall deliver to the other such bills of sale, checks, assignments, certificates, if any, receipts or other documents as such other party or its counsel may reasonably request.
(e) In the event that on the Closing Date (i) the NYSE or another primary trading market for portfolio securities of the Target Fund (each, an “Exchange”) shall be closed to trading or trading thereupon shall be restricted, or (ii) trading or the reporting of trading on such Exchange or elsewhere shall be disrupted so that, in the judgment of the board of trustees of the Acquiring Entity or the Target Entity, or the authorized officers of such entities, accurate appraisal of the value of the net assets of the Acquiring Fund or the Target Fund, respectively, is impossible or impracticable, the Closing Date shall be postponed until the first business day after the day when trading shall have been fully resumed and reporting shall have been restored or such later dates as may be mutually agreed in writing by an authorized officer of each party.
- 6 -
| 4. | REPRESENTATIONS AND WARRANTIES |
4.1. With respect to each Reorganization, the applicable Target Entity, on behalf of itself or, where applicable a Target Fund, represents and warrants to the corresponding Acquiring Entity and Acquiring Fund as follows:
(a) The Target Entity is a statutory trust organized under the laws of the State of Delaware, validly existing and in good standing and with power under the Target Entity’s governing documents (including bylaws), as applicable (“Governing Documents”), to own all of its Assets, to carry on its business as it is now being conducted and to enter into this Agreement and perform its obligations hereunder. If the Target Fund is a separate person or entity from the Target Entity, the Target Fund is a duly established and designated separate series of the Target Entity;
(b) The Target Fund is a registered investment company classified as a management company of the open-end type, and its registration with the U.S. Securities and Exchange Commission (the “Commission”) as an investment company under the 1940 Act, and the registration of the shares of the Target Fund under the Securities Act of 1933, as amended (“1933 Act”), are in full force and effect, and will be in full force and effect on the Closing Date, and no action or proceeding to revoke or suspend such registrations is pending, or to the knowledge of the Target Fund, threatened. All issued and outstanding shares of the Target Fund have been offered for sale by the Target Fund in conformity in all material respects with applicable federal and state securities laws;
(c) No consent, approval, authorization, or order of any court or governmental authority or the Financial Industry Regulatory Authority (“FINRA”) is required for the consummation by the Target Fund and the Target Entity of the transactions contemplated herein, except such as have been obtained or will be obtained prior to the Closing Date under the 1933 Act, the Securities Exchange Act of 1934, as amended (“1934 Act”), the 1940 Act, and state securities or blue sky laws (which term as used herein shall include the laws of the District of Columbia and of Puerto Rico), each of which, as required, shall have been obtained on or prior to the Closing Date. No consent of or notice to any other third party or entity is required for the consummation by the Target Fund of the transactions contemplated by this Agreement;
(d) Except as disclosed in writing to the Acquiring Entity, the prospectus and statement of additional information and current shareholder reports of the Target Fund, and each prospectus and statement of additional information and shareholder reports of the Target Fund used at all times during the three (3) years prior to the date of this Agreement, conform or conformed at the time of its use in all material respects to the applicable requirements of the 1933 Act and the 1940 Act and the rules and regulations of the Commission thereunder and does not or did not at the time of its use include any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not materially misleading;
- 7 -
(e) The Target Fund is in compliance in all material respects with, and during the three (3) years prior to the date of this Agreement was in compliance in all material respects with, the requirements of, and the rules and regulations under, the 1933 Act, the 1934 Act and the 0000 Xxx, xxxxx securities laws and all other applicable federal and state laws or regulations. The Target Fund is in compliance in all material respects with, and during the three (3) years prior to the date of this Agreement was in compliance in all material respects with, its investment objectives, policies, guidelines and restrictions and compliance procedures, and the value of the Net Assets of the Target Fund is, and during such period was, determined using portfolio valuation methods that, in the reasonable judgment of the Target Fund, comply in all material respects with the requirements of the 1940 Act and the rules and regulations of the Commission thereunder and the pricing and valuation policies of the Target Fund and there have been no material miscalculations of the net asset value of the Target Fund or the net asset value per share of the Target Fund (or any class thereof) during the twelve (12) month period preceding the date hereof that have not been remedied or will not be remedied prior to the Closing Date in accordance with industry practice that, individually or in the aggregate, would have a material adverse effect on the Target Fund or its Assets, and all such calculations have been made in accordance with the applicable provisions of the 1940 Act. All advertising and sales material used by the Target Fund during the twelve (12) months prior to the date of this Agreement complied in all material respects, at the time such material was used, with applicable law and the rules and regulations of FINRA;
(f) Except as otherwise disclosed to and accepted, in writing, by or on behalf of the Acquiring Fund, (i) the Target Fund will as of the Closing Time have good and marketable title to the Assets and full right, power, and authority to sell, assign, transfer and deliver such Assets free of adverse claims, including any liens or other encumbrances not disclosed and reflected in the value thereof, and (ii) upon delivery and payment for such Assets, the Acquiring Fund will acquire good and marketable title thereto, subject to only those restrictions on the full transfer thereof when held by the Acquiring Fund as when they were held by the Target Fund (including, without limitation, such restrictions as might arise under the 1933 Act), free of adverse claims not otherwise disclosed and reflected in the value thereof (including, without limitation, assets that are segregated as collateral for the Target Fund’s derivative positions, including without limitation as collateral for swap positions and as margin for futures positions, subject to such segregation and liens that apply to such Assets);
(g) Except as otherwise disclosed to and accepted, in writing, by or on behalf of the Acquiring Fund, the Target Fund is not engaged currently, and the execution, delivery and performance of this Agreement will not result, in (i) a material violation of the Target Entity’s Governing Documents or of any agreement, indenture, instrument, contract, lease or other undertaking to which the Target Fund or the Target Entity is a party or by which it is bound, or (ii) the acceleration of any obligation, or the imposition of any lien, encumbrance, penalty or additional fee under any agreement, indenture, instrument, contract, lease, judgment or decree to which the Target Fund or Target Entity is a party or by which it is bound;
- 8 -
(h) Except as otherwise disclosed to and accepted, in writing, by or on behalf of the Acquiring Fund, all material contracts or other commitments of the Target Fund (other than this Agreement and certain investment contracts, including swap agreements, options, futures and forward contracts) will terminate or be terminated with respect to the Target Fund without liability to the Target Fund or may otherwise be assigned to the Acquiring Fund (subject to any consent or approval by the other parties if required by any such contract) without the payment of any fee (penalty or otherwise) or acceleration of any obligations of the Target Fund on or prior to the Closing Date, provided that such assigned contracts are identified on Schedule 4.1(h);
(i) Except as set forth on Schedule 4.1(i), no litigation or administrative proceeding or investigation of or before any court, tribunal, arbitrator, governmental body, regulatory agency or FINRA is presently pending or, to the Target Fund’s knowledge, threatened against the Target Fund or Target Entity, and no such litigation, proceeding or investigation, if adversely determined, would materially and adversely affect the Target Fund’s financial condition or the conduct of its business or the Target Fund’s ability to consummate the transactions contemplated by this Agreement. The Target Fund and the Target Entity, without any special investigation or inquiry, know of no facts that might form the basis for the institution of such proceedings and neither the Target Entity nor the Target Fund is a party to or subject to the provisions of any order, decree or judgment of any court, governmental body, regulatory agency or FINRA that materially and adversely affects its business or its ability to consummate the transactions herein contemplated. The Target Fund (i) has not entered into any contract or agreement or amendment of any contract or agreement or terminated any contract or agreement, in each case material to the operation of the Target Fund, except as otherwise contemplated by this Agreement or as disclosed to the Acquiring Fund; (ii) has not incurred any indebtedness, other than in the ordinary course of business consistent with the investment objective and policies of the Target Fund; (iii) has not entered into any amendment of its Governing Documents that has not been disclosed to the Acquiring Fund; (iv) does not have outstanding any grant or imposition of any lien, claim, charge or encumbrance (other than encumbrances arising in the ordinary course of business) upon any asset of the Target Fund other than a lien for Taxes (as defined below) not yet due and payable; and (v) has not entered into any agreement or made any commitment to do any of the foregoing except as disclosed to the Acquiring Fund;
(j) The financial statements of the Target Fund for the Target Fund’s most recently completed fiscal year have been audited by the independent registered public accounting firm identified in the Target Fund’s prospectus or statement of additional information included in the Target Fund’s registration statement on Form N-1A. Such statements, as well as the unaudited, semi-annual financial statements for the semi-annual period next succeeding the Target Fund’s most recently completed fiscal year, if any, were prepared in accordance with GAAP consistently applied, and such statements (copies of which have been furnished or made available to the Acquiring Fund) present fairly, in all material respects, the financial condition of the Target Fund as of such date in accordance with GAAP, and there are no known contingent liabilities of the Target Fund required to be reflected on a balance sheet (including the notes thereto) in accordance with GAAP as of such date not disclosed therein. No material weakness,
- 9 -
fraud, significant change or other factor that could significantly affect the internal controls of the Target Fund has been disclosed or is required to be disclosed in the Target Fund’s reports on Form N-CSR and, to the knowledge of the Target Fund, no such disclosure will be required as of the Closing Date. All significant deficiencies in the design or operation of internal control over financial reporting of the Target Funds that occurred during the five (5) years prior to the date of this Agreement have been disclosed in writing to the Acquiring Entity;
(k) Since the last day of the Target Fund’s most recently completed fiscal year, there has not been any material adverse change in the Target Fund’s financial condition, assets, liabilities or business, other than changes occurring in the ordinary course of business, except as otherwise disclosed to and accepted by the Acquiring Fund in writing. For the purposes of this subparagraph, a decline in net asset value due to declines in market values of securities held by the Target Fund, the redemption of the Target Fund’s shares by shareholders of the Target Fund or the discharge of the Target Fund’s ordinary course liabilities shall not constitute a material adverse change;
(l) On the Closing Date, all federal and other material Tax Returns (as defined below) of the Target Fund required by law to have been filed by such date (taking into account any extensions) shall have been filed and are or will be true, correct and complete in all material respects, and all Taxes (as defined below) shown as due or claimed to be due by any government entity shall have been paid or provision has been made for the payment thereof. To the Target Fund’s knowledge: no such Tax Return is currently under audit by and no such audit has been threatened by any federal, state, local or foreign Tax authority; no assessment has been asserted or proposed with respect to such Tax Returns; there are no levies, liens or other encumbrances on the Target Fund or its assets resulting from the non-payment of any Taxes (other than for Taxes not yet due and payable); no waivers of the time to assess any such Taxes are outstanding nor are any written requests for such waivers pending (in each case other than waivers as a result of extensions of time to file Tax Returns); and adequate provision has been made in the Target Fund financial statements for all Taxes in respect of all periods ended on or before the date of such financial statements. To the Target Fund’s knowledge, no claim has ever been made by a taxing authority in a jurisdiction where the Target Fund does not file a Tax Return that the Target Fund is or may be subject to taxation in that jurisdiction. The Target Fund is in compliance in all material respects with applicable regulations of the Internal Revenue Service pertaining to the reporting of distributions on and redemptions of its shares of beneficial interest and to withholding in respect of distributions to shareholders, and is not liable for any material penalties that could be imposed thereunder. As used in this Agreement, “Tax” or “Taxes” means any tax or other like assessment or charge (including, but not limited to, excise tax and withholding on amounts paid to or by any person), together with any interest, penalty, addition to tax or additional amount imposed by any governmental authority (whether domestic, foreign, federal, state or local) responsible for the imposition of any such tax. “Tax Return” means reports, returns, information returns, dividend reporting forms, elections, agreements, declarations, or other documents or reports of any nature or kind (including any attached schedules, supplements and additional or supporting material) filed or required to be filed or furnished or required to be furnished with respect to Taxes, including any claim for
- 10 -
refund, amended return or declaration of estimated Taxes (and including any amendments with respect thereto);
(m) The Target Fund, with the exception of Xxxxxxxxxxx SteelPath MLP Alpha Fund, Xxxxxxxxxxx SteelPath MLP Alpha Plus Fund, Xxxxxxxxxxx SteelPath MLP Income Fund and Xxxxxxxxxxx SteelPath MLP Select 40 Fund (the Xxxxxxxxxxx SteelPath MLP Alpha Fund, the Xxxxxxxxxxx SteelPath MLP Alpha Plus Fund, the Xxxxxxxxxxx SteelPath MLP Income Fund and the Xxxxxxxxxxx SteelPath MLP Select 40 Fund are each referred to herein as a “C Corporation Target Fund”): (i) is (and will be as of the Closing Date) classified as an association that is subject to Tax as a corporation for federal Tax purposes, (ii) has elected to be a regulated investment company under Subchapter M of the Code, and (iii) is a “fund,” as defined in Section 851(g)(2) of the Code, that is treated as a separate corporation under Section 851(g)(1) of the Code. The Target Fund, with the exception of the C Corporation Target Fund and with the exception of the Xxxxxxxxxxx Emerging Markets Local Debt Fund solely for its fiscal year ended May 31, 2014, has qualified for treatment as a regulated investment company, to the actual knowledge of the Target Fund, for each taxable year since inception that has ended prior to the Closing Date and will have satisfied the requirements of Part I of Subchapter M of the Code to maintain such qualification for the period beginning on the first day of its current taxable year and ending on the Closing Date, and, to the actual knowledge of the Target Fund, for each taxable year since inception (or portion thereof), the Target Fund, with the exception of the C Corporation Target Fund, has been eligible to compute its federal income tax under Section 852 of the Code. The Target Fund, with the exception of the C Corporation Target Fund, has paid or made provision for the payment of any tax liability under Sections 852 or 4982 of the Code for, to the actual knowledge of the Target Fund, any period ended on or before the Closing Date. The Target Fund, to its knowledge, with the exception of the C Corporation Target Fund, has no earnings or profits accumulated with respect to any taxable year in which the provisions of Subchapter M of the Code did not apply to the Target Fund. If the Target Fund serves as a funding vehicle for variable contracts (life insurance or annuity), the Target Fund, with respect to each of its taxable years that has ended prior to the Closing Date during which it has served as such a funding vehicle, has satisfied the diversification requirements of Section 817(h) of the Code and will continue to satisfy the requirements of Section 817(h) of the Code for the period beginning on the first day of its current taxable year and ending on the Closing Date. No variable contract holder is or will be taxable on the income and gains of a Target Fund that serves as a funding vehicle for variable contracts (life insurance or annuity) pursuant to the investor control doctrine solely as a result of the manner in which such Target Fund has been managed and its business has been conducted. With respect to any wholly owned subsidiary of the Target Fund organized outside the United States, if any, such subsidiary: (i) is classified as an association that is subject to Tax as a corporation for U.S. federal Tax purposes and (ii) is not, for each taxable year since inception that has ended prior to the Closing Date, and will not be for the period beginning on the first day of its current taxable year and ending on the Closing Date, engaged in a trade or business within the United States. The Target Fund does not own any “converted property” (as that term is defined in Treasury Regulation Section 1.337(d)-7T(a)(2)) that is subject to the rules of Section 1374 of the Code as a consequence of the application of Section 337(d)(1) of the Code and the Treasury
- 11 -
Regulations promulgated thereunder. To the actual knowledge of the Target Fund, since its inception, the Target Fund, if it is the Xxxxxxxxxxx Municipal Fund, Xxxxxxxxxxx Short Term Municipal Fund or Xxxxxxxxxxx Intermediate Term Municipal Fund, and to the actual knowledge of the Target Fund, since the date each of the Xxxxxxxxxxx Rochester New Jersey Municipal Fund, Xxxxxxxxxxx Rochester Pennsylvania Municipal Fund, Xxxxxxxxxxx Rochester AMT-Free Municipal Fund, Xxxxxxxxxxx Rochester AMT-Free New York Municipal Fund, Xxxxxxxxxxx Rochester California Municipal Fund, Xxxxxxxxxxx Rochester Fund Municipals, Xxxxxxxxxxx Rochester High Yield Municipal Fund, Xxxxxxxxxxx Rochester Short Duration High Yield Municipal Fund, Xxxxxxxxxxx Rochester Limited Term California Municipal Fund and Xxxxxxxxxxx Rochester Limited Term New York Municipal Fund elected to be taxed as a regulated investment company under Subchapter M of the Code, has qualified to pay “exempt-interest dividends” as such term is defined in Section 852 of the Code;
(n) The Target Fund has not changed its taxable year end within the most recent 60-month period ending on the last day of the month immediately preceding the Closing Date of a Reorganization, and it does not intend to change its taxable year end prior to the Closing Date;
(o) The Target Fund (including the Acquiring Fund as its successor) will not be required to include any material item of income in, or exclude any material item of deduction from, taxable income for any taxable period (or portion thereof) ending after the Closing Date as a result of any (i) change in method of accounting for a taxable period ending on or prior to the Closing Date (including as a result of the transactions contemplated in this Agreement); (ii) “closing agreement” as described in Section 7121 of the Code (or any corresponding or similar provision of state, local or foreign income Tax law) executed on or prior to the Closing Date; (iii) installment sale or open transaction disposition made on or prior to the Closing Date; or (iv) prepaid amount received on or prior to the Closing Date;
(p) [Reserved.];
(q) The Target Fund has no actual or potential material liability for any Tax obligation of any taxpayer other than itself. The Target Fund is not currently and has never been a member of a group of corporations with which it has filed (or been required to file) consolidated, combined or unitary Tax Returns except as disclosed on Schedule 4.1(q) with respect to certain state Tax Returns. The Target Fund is not a party to any Tax allocation, sharing, or indemnification agreement (other than agreements the primary purpose of which do not relate to Taxes);
(r) All issued and outstanding shares of the Target Fund are, and on the Closing Date will be, duly and validly issued and outstanding, fully paid and non-assessable by the Target Entity, and are not, and on the Closing Date will not be, subject to preemptive or objecting shareholder rights. In every state where offered or sold, such offers and sales by the Target Fund have been in compliance in all material respects with applicable registration and/or notice requirements of the 1933 Act and state and District of Columbia securities laws. All of the issued and outstanding shares of the Target Fund
- 12 -
will, at the time of Closing, be held of record by the persons and in the amounts set forth in the records of the Target Transfer Agent, on behalf of the Target Fund. The Target Fund does not have outstanding any options, warrants or other rights to subscribe for or purchase any of the shares of the Target Fund, nor is there outstanding any security convertible into any of the Target Fund’s shares, except for any automatic conversion right of holders of Class C shares, as applicable, of the Target Fund to convert to Class A shares in accordance with the terms set forth in the Target Fund’s prospectus and statement of additional information and Governing Documents;
(s) The Target Entity, on behalf of the Target Fund, has all requisite power and authority to enter into this Agreement and to consummate the transactions contemplated herein. The execution, delivery and performance of this Agreement has been duly authorized by all necessary action, if any, on the part of the board of trustees of the Target Entity and, subject to the approval of the shareholders of the Target Fund (only with respect to those obligations under this Agreement that are contingent on such shareholder approval) and the due authorization, execution and delivery of this Agreement by the other parties hereto, this Agreement will constitute a valid and binding obligation of the Target Fund, enforceable in accordance with its terms, subject, as to enforcement, to bankruptcy, insolvency, reorganization, moratorium and other laws relating to or affecting creditors’ rights and to general equity principles;
(t) The information relating to the Target Fund furnished by the Target Fund for use in registration statements, proxy materials and other documents filed or to be filed by the Target Fund or, with the consent of the Target Fund, by the Acquiring Fund, with any federal, state or local regulatory or self-regulatory authority that are necessary in connection with the transactions contemplated hereby is and will be accurate and complete in all material respects and will comply in all material respects with federal securities laws and regulations thereunder and other applicable laws and regulations applicable thereto;
(u) As of the date of this Agreement or within a certain time thereafter as mutually agreed by the parties, the Target Fund has provided the Acquiring Fund with all information relating to the Target Fund reasonably necessary for the preparation of the N-14 Registration Statement (as defined in Section 5.1(b) hereof), in compliance with the 1933 Act, the 1934 Act and the 1940 Act in connection with the meeting of shareholders of the Target Fund to approve this Agreement and the transactions contemplated hereby. As of the effective date of the N-14 Registration Statement, the date of the meeting of shareholders of the Target Fund and the Closing Date, such information provided by any Target Fund will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which such statements were made, not misleading; provided, however, that the representations and warranties in this subparagraph shall not apply to statements in or omissions from the N-14 Registration Statement made in reliance upon and in conformity with information that was furnished by the Acquiring Fund or its investment adviser or affiliates thereof for use therein;
- 13 -
(v) The books and records of the Target Fund are true and correct in all material respects and contain no material omissions with respect to information required to be maintained under the laws, rules and regulations applicable to the Target Fund;
(w) The Target Entity and the Target Fund have maintained any material license, permit, franchise, authorization, certification and approval required by any governmental entity in the conduct of its business (the “Licenses and Permits”). Each License and Permit has been duly obtained, is valid and in full force and effect, and is not subject to any pending or, to the knowledge of the Target Entity, threatened administrative or judicial proceeding to revoke, cancel, suspend or declare such License and Permit invalid;
(x) The Target Entity is not under the jurisdiction of a court in a Title 11 or similar case within the meaning of Section 368(a)(3)(A) of the Code;
(y) The Target Fund has no unamortized or unpaid organizational fees or expenses; and
(z) The C Corporation Target Fund is, will be as of the Closing Date, and has been, to the knowledge of the C Corporation Target Fund, for all taxable years since its inception, classified as an association that is subject to Tax as a corporation for federal, state and local Tax purposes. The C Corporation Target Fund has not, to the knowledge of the C Corporation Target Fund, at any time since its inception, elected to be a regulated investment company under Subchapter M of the Code. The C Corporation Target Fund has not been a party to a transaction intended to qualify under Section 355 of the Code or under so much of Section 356 of the Code as it relates to Section 355 of the Code.
4.2. Each Acquiring Entity, on behalf of the Acquiring Fund, represents and warrants to the corresponding Target Entity and Target Fund as follows:
(a) The Acquiring Fund is duly organized as a series of the Acquiring Entity, which is a statutory trust duly formed, validly existing, and in good standing under the laws of the State of Delaware, each with power under its Governing Documents to own all of its properties and assets and to carry on its business as it is now being, and as it is contemplated to be, conducted and to enter into this Agreement and perform its obligations hereunder;
(b) The Acquiring Entity is a registered investment company classified as a management company of the open-end type, and its registration with the Commission as an investment company under the 1940 Act and the registration of shares of the Acquiring Fund under the 1933 Act are in full force and effect, and will be in full force and effect on the Closing Date, and no action or proceeding to revoke or suspend such registrations is pending, or to the knowledge of the Acquiring Fund, threatened;
(c) No consent, approval, authorization, or order of any court, governmental authority or FINRA is required for the consummation by the Acquiring Fund of the transactions contemplated herein, except such as have been or will be (at or prior to the
- 14 -
Closing Date) obtained under the 1933 Act, the 1934 Act, the 1940 Act and state securities or blue sky laws (which term as used herein shall include the laws of the District of Columbia and of Puerto Rico), each of which, as required, shall have been obtained on or prior to the Closing Date. No consent of or notice to any other third party or entity is required for the consummation by the Acquiring Fund of the transactions contemplated by this Agreement;
(d) The prospectus and statement of additional information of the Acquiring Fund to be used in connection with the Reorganization will conform at the time of their use in all material respects to the applicable requirements of the 1933 Act and the 1940 Act and the rules and regulations of the Commission thereunder and will not include any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading;
(e) The Acquiring Fund is not engaged currently, and the execution, delivery and performance of this Agreement will not result, in (i) a material violation of the Acquiring Entity’s Governing Documents or of any agreement, indenture, instrument, contract, lease or other undertaking to which the Acquiring Fund or the Acquiring Entity is a party or by which it is bound, or (ii) the acceleration of any obligation, or the imposition of any lien, encumbrance, penalty, or additional fee under any agreement, indenture, instrument, contract, lease, judgment or decree to which the Acquiring Fund or the Acquiring Entity is a party or by which it is bound;
(f) Except as set forth on Schedule 4.2(f), no litigation or administrative proceeding or investigation of or before any court, tribunal, arbitrator, governmental body, regulatory agency or FINRA is presently pending or, to the Acquiring Fund’s knowledge, threatened against the Acquiring Fund, and no such litigation, proceeding or investigation, if adversely determined, would materially and adversely affect the Acquiring Fund’s financial condition or the conduct of its business or the Acquiring Fund’s ability to consummate the transactions contemplated by this Agreement. The Acquiring Fund and the Acquiring Entity, without any special investigation or inquiry, know of no facts that might form the basis for the institution of such proceedings and neither the Acquiring Entity nor the Acquiring Fund is a party to or subject to the provisions of any order, decree or judgment of any court, governmental body, regulatory agency or FINRA that materially and adversely affects its business or its ability to consummate the transactions herein contemplated;
(g) The Acquiring Fund has not yet commenced operations. The Reorganization will be structured as a “shell reorganization” subject to U.S. federal income tax treatment under Section 368(a)(1)(F) of the Code. The Acquiring Fund is, and will be at the time of Closing, a new series portfolio of the Acquiring Entity created within the last twelve (12) months, without assets or liabilities, formed for the purpose of receiving the Assets and assuming the Liabilities of the Target Fund in connection with the Reorganization and, accordingly, the Acquiring Fund has not prepared books of account and related records or financial statements or issued any shares except nominal
- 15 -
shares issued in a private placement to IAI or its affiliate to secure any required initial shareholder approvals;
(h) As of the Closing Date, no federal, state or other Tax Returns of the Acquiring Fund will have been required by law to have been filed, and no Taxes will be due by the Acquiring Fund. As of the Closing Date, the Acquiring Fund will not have been required to pay any assessments and the Acquiring Fund will not have any Tax liabilities. Consequently, as of the Closing Date, the Acquiring Fund will not be under audit by any federal, state, local or foreign Tax authority and there will have been no Tax assessment asserted with respect to the Acquiring Fund, no levies, liens or other encumbrances on the Acquiring Fund, and no waivers of the time to assess any Taxes;
(i) The Acquiring Fund: (i) was formed for the purpose of the Reorganization, (ii) is not (and will not be as of the Closing Date) classified as a partnership, and instead is (and will be as of the Closing Date) classified as an association that is subject to Tax as a corporation for federal Tax purposes and either has elected (or will timely elect) the latter classification by filing Form 8832 with the Service or is (or will be as of the Closing Date) a “publicly traded partnership” (as defined in Section 7704(b) of the Code) that is treated as a corporation for federal Tax purposes, (iii) has not filed any income tax return, and intends, with the exception of the Invesco SteelPath MLP Alpha Fund, the Invesco SteelPath MLP Alpha Plus Fund, the Invesco SteelPath MLP Income Fund and the Invesco SteelPath MLP Select 40 Fund (the Invesco SteelPath MLP Alpha Fund, the Invesco SteelPath MLP Alpha Plus Fund, the Invesco SteelPath MLP Income Fund and the Invesco SteelPath MLP Select 40 Fund are each referred to herein as a “C Corporation Acquiring Fund”), to continue to qualify to be a regulated investment company under Subchapter M of the Code for its taxable year which includes the Closing Date, (iv) holds and has held no property and has and has had no Tax attributes, and (v) is (or will be as of the Closing Date), with the exception of the C Corporation Acquiring Fund, a “fund,” as defined in Section 851(g)(2) of the Code, that is treated as a separate corporation under Section 851(g)(1) of the Code. The Acquiring Fund, with the exception of the C Corporation Acquiring Fund, has no and will have no earnings or profits accumulated in any taxable year in which the provisions of Subchapter M of the Code did not apply to it;
(j) The Acquiring Entity, on behalf of the Acquiring Fund, has all requisite power and authority to enter into this Agreement and to consummate the transactions contemplated herein. The execution, delivery and performance of this Agreement will have been duly authorized prior to the Closing Date by all necessary action, if any, on the part of the board of trustees of the Acquiring Entity, on behalf of the Acquiring Fund, and subject to the approval of shareholders of the Target Fund and the due authorization, execution and delivery of the Agreement by the other parties thereto, this Agreement will constitute a valid and binding obligation of the Acquiring Fund, enforceable in accordance with its terms, subject, as to enforcement, to bankruptcy, insolvency, reorganization, moratorium and other laws relating to or affecting creditors’ rights and to general equity principles;
- 16 -
(k) The shares of the Acquiring Fund to be issued and delivered to the Target Fund, for the account of the Target Fund Shareholders, pursuant to the terms of this Agreement, have been duly authorized and, when so issued and delivered, will be duly and validly issued Acquiring Fund shares, and, upon receipt of the Target Fund’s Assets in accordance with the terms of this Agreement, will be fully paid and non-assessable by the Acquiring Entity;
(l) The Acquiring Entity is not under the jurisdiction of a court in a Title 11 or similar case within the meaning of Section 368(a)(3)(A) of the Code;
(m) The Acquiring Fund has no unamortized or unpaid organizational fees or expenses for which it does not expect to be reimbursed by IAI or its affiliates;
(n) As of the effective date of the N-14 Registration Statement, the date of the meeting of shareholders of the Target Fund and the Closing Date, the information provided by any Acquiring Fund for use in the N-14 Registration Statement, including the documents contained or incorporated therein by reference will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which such statements were made, not misleading; provided, however, that the representations and warranties in this subparagraph shall not apply to statements in or omissions from the N-14 Registration Statement made in reasonable reliance upon and in conformity with information that was furnished by the Target Fund for use therein; and
(o) The C Corporation Acquiring Fund intends to qualify to be classified as an association that is subject to Tax as a corporation for federal, state and local Tax purposes for its taxable year which includes the Closing Date and will be so classified as of the Closing Date.
4.3. With respect to each Reorganization, the Target Entity, on behalf of the Target Fund, and the Acquiring Entity, on behalf of the Acquiring Fund, represents and warrants as follows:
(a) For federal income tax purposes, the fair market value of the Acquiring Fund’s shares that each Target Fund shareholder receives will be approximately equal to the fair market value of the Target Fund shares it actually or constructively surrenders in exchange therefor;
(b) The fair market value of the Assets will equal or exceed the Liabilities to be assumed by the Acquiring Fund and those to which the Assets are subject;
(c) No expenses incurred by the Target Fund or on its behalf in connection with the Reorganization will be paid or assumed by the Acquiring Fund or any other third party unless those expenses are solely and directly related to the Reorganization (determined in accordance with the guidelines set forth in Rev. Rul. 73-54, 1973-1 C.B. 187) (“Reorganization Expenses”), and no cash or property other than Acquiring Fund shares will be transferred to the Target Fund or any of its shareholders with the intention that it be used to pay any expenses (even Reorganization Expenses) thereof; and
- 17 -
(d) Immediately following consummation of the Reorganization: (1) the shareholders of the Acquiring Fund will own all the Acquiring Fund shares and will own those shares solely by reason of their ownership of the Target Fund shares immediately before the Reorganization; and (2) the Acquiring Fund will hold the same Assets and will be subject to the Liabilities that the Target Fund held or was subject to immediately before the Reorganization (for the avoidance of doubt, not including the Excluded Assets or the Excluded Liabilities).
| 5. | COVENANTS OF THE ACQUIRING ENTITY AND THE TARGET ENTITY |
5.1. With respect to each Reorganization:
(a) The Target Fund will operate its business in the ordinary course and substantially in accordance with past practice between the date hereof and the Closing Date, it being understood that, with respect to the Target Fund, such ordinary course of business may include purchases and sales of portfolio securities and other instruments, sales and redemptions of the Target Fund’s shares, and the declaration and payment of customary dividends and distributions, and any other distribution that may be advisable. The Acquiring Fund shall take such actions as are customary to the organization of a new series prior to its commencement of operations. In order to facilitate the transfer of Assets at the Closing Date, IAI may request in writing that OFI Global and/or OFI SteelPath use commercially reasonable efforts, subject to OFI Global’s and/or OFI SteelPath’s fiduciary duty, as applicable, to limit or cease portfolio trading on behalf of the Target Fund for a period of up to three (3) days prior to the Closing Date. OFI Global and OFI SteelPath agree that they will accommodate such requests to the extent such trading restrictions are consistent with the investment objectives, policies and strategies of the Target Fund and consistent with fulfilling its fiduciary obligations as an investment adviser. No party shall take any action that would, or would reasonably be expected to, result in any of its representations and warranties set forth in this Agreement being or becoming untrue in any material respect.
(b) The parties hereto shall cooperate in preparing, and the Acquiring Entity shall file with the Commission, a registration statement on Form N-14 under the 1933 Act, which shall properly register the Acquiring Fund shares to be issued in connection with the Reorganization and include a proxy statement with respect to the votes of the shareholders of the Target Fund to approve the Reorganization (the “N-14 Registration Statement”). If at any time prior to the Closing Date a party becomes aware of any untrue statement of a material fact or omission to state a material fact required to be stated therein or necessary to make the statements made not misleading in light of the circumstances under which they were made in respect of the N-14 Registration Statement, such party shall notify each other party, and the parties shall cooperate in promptly preparing and filing with the Commission and, if appropriate, distributing to shareholders appropriate disclosure with respect to the item. The Target Fund agrees to instruct its transfer agent to mail or otherwise deliver (e.g., by electronic means consistent with applicable regulations governing their use) to its respective shareholders of record entitled to vote at the special meeting of shareholders at which action is to be considered regarding this Agreement, in sufficient time to comply with requirements as to notice
- 18 -
thereof, the prospectus/proxy statement contained in the N-14 Registration Statement and other documents as are necessary.
(c) The Target Entity will call a meeting of the shareholders of the Target Fund to be held prior to the Closing Date to consider and act upon this Agreement and to take all other action necessary to seek to obtain the required shareholder approval of the transactions contemplated herein. In the event that the Target Fund does not achieve a quorum or receives insufficient votes from shareholders to approve the proposal, the meeting may be postponed or adjourned as permitted under the Target Entity’s Governing Documents, applicable law and the N-14 Registration Statement in order to permit further solicitation of proxies, for a period of up to 180 days or such longer period as is mutually agreed upon by the parties.
(d) The Target Fund covenants that the Acquiring Fund’s shares to be issued pursuant to this Agreement are not being acquired for the purpose of making any distribution thereof, other than to the Target Fund’s shareholders in accordance with the terms of this Agreement.
(e) The Target Entity will cooperate or will cause its agents to cooperate with the Target Transfer Agent and with the Acquiring Fund in efforts to obtain such information as the Acquiring Fund reasonably requests concerning the beneficial ownership of the Target Fund’s shares, and will assist the Acquiring Fund and its transfer agent in obtaining copies of any books and records of the Target Fund from its service providers reasonably requested by the Acquiring Entity or its transfer agent.
(f) The Target Entity will provide the Acquiring Fund with: (i) a schedule, as set forth in Schedule 5.1(f), certified by the Treasurer of the Target Entity, stating that the various statements, books and records set forth in Schedule 5.1(f) exist and specifying the location of such statements, books and records and the means by which the Acquiring Entity can access them (the “Schedule of Statements, Books and Records”); (ii) FASB ASC 740-10 (formerly FIN 48) work papers and supporting statements pertaining to the Target Fund relating to any taxable years of the Target Fund not closed by the applicable Tax statute of limitations (the “ASC 740-10 Workpapers”); and (iii) with respect to the C Corporation Target Fund (for the last six (6) completed tax years and the current tax year of the C Corporation Target Fund that includes the Closing Date): (A) the daily, semi-annual and annual tax accrual workpapers and (B) effective tax rate calculations (collectively, the “Tax Accrual Workpapers and Tax Rate Calculations”). The Schedule of Statements, Books and Records shall be provided at the Closing. The ASC 740-10 Workpapers shall be provided at least sixty (60) days prior to the Closing Date. The Tax Accrual Workpapers and Tax Rate Calculations shall be provided at least thirty (30) days prior to the Closing Date, provided, however, the daily tax accrual workpapers shall be provided the day prior to the Closing Date.
(g) The Target Fund will cause to be prepared and use commercially reasonable efforts to have delivered to the Acquiring Fund at least five (5) business days prior to the Closing Date a statement of the assets and the liabilities of the Target Fund as of such date for review and agreement by the parties to determine that the Assets and the
- 19 -
Liabilities of the Target Fund are being correctly determined in accordance with the terms of this Agreement. The Target Fund will deliver at the Closing a statement of Assets and Liabilities of the Target Fund as of the Closing Date, certified by the Treasurer of the Target Entity.
(h) Subject to the provisions of this Agreement, the Acquiring Fund and the Target Fund will each take, or cause to be taken, all action, and do or cause to be done all things, reasonably necessary, proper or advisable to consummate and make effective the transactions contemplated by this Agreement.
(i) As soon as is reasonably practicable after the Closing, the Target Fund will make one or more distributions to its shareholders consisting of all shares of the applicable class of the Acquiring Fund received at the Closing, as set forth in Section 1.2(d) hereof.
(j) The Acquiring Fund and the Target Fund shall each use their best efforts prior to Closing to fulfill or obtain the fulfillment of the conditions precedent to effect the transactions contemplated by this Agreement.
(k) The Target Fund shall, from time to time, as and when reasonably requested by the Acquiring Fund, execute and deliver or cause to be executed and delivered all such assignments and other instruments, and will take or cause to be taken such further action, as the Acquiring Fund may reasonably deem necessary or desirable in order to vest in and confirm the Acquiring Fund’s title to and possession of all the Assets and otherwise to carry out the intent and purpose of this Agreement.
(l) The Acquiring Fund shall, from time to time, as and when reasonably requested by the Target Fund, execute and deliver or cause to be executed and delivered all such assumption agreements and other instruments, and will take or cause to be taken such further action, as the Target Fund may reasonably deem necessary or desirable in order for the Acquiring Fund to assume the Target Fund’s Liabilities and otherwise to carry out the intent and purpose of this Agreement.
(m) The Acquiring Fund will use all reasonable efforts to obtain the approvals and authorizations required by the 1933 Act, the 1940 Act and such of the state blue sky or securities laws as may be necessary in order to continue its operations after the Closing Date.
(n) [Reserved.]
(o) It is the intention of the parties that each Reorganization will qualify as a reorganization with the meaning of Section 368(a) of the Code. None of the parties to this Agreement shall take any action or cause any action to be taken (including, without limitation the filing of any Tax Return) that is inconsistent with such treatment or results in the failure of a Reorganization to qualify as a reorganization with the meaning of Section 368(a) of the Code.
- 20 -
(p) At or prior to the Closing, the Target Fund shall have delivered to the Acquiring Fund copies of: (i) any legal opinions that have been issued to or for the benefit of the Target Fund and which have continuing relevance and (ii) with respect to any wholly owned subsidiaries of the Target Fund (if any), any organizational documents, including, without limitation, the memorandum and articles of association, together with the board meeting minutes and consent of directors or trustees and shareholders.
(q) The contingent deferred sales charge (“CDSC”) applicable to Class A and Class C shares of the Acquiring Fund issued in connection with the Reorganization will be calculated based on the CDSC schedule of Class A and Class C shares, respectively, of the Target Fund and, for purposes of calculating the CDSC, recipients of such Class A and Class C shares of the Acquiring Fund shall be deemed to have acquired such shares on the date(s) that the corresponding shares of the Target Fund were acquired by the shareholder. For purposes of calculating the automatic conversion right of holders of Class C shares of the Acquiring Fund issued in connection with the Reorganization to convert to Class A shares in accordance with the terms set forth in the Acquiring Fund’s prospectus and statement of additional information and Governing Documents, recipients of Class C shares of the Acquiring Fund shall be deemed to have acquired such shares on the date(s) that the corresponding shares of the Target Fund were acquired by the shareholder.
| 6. | CONDITIONS PRECEDENT TO OBLIGATIONS OF THE TARGET ENTITY |
6.1. With respect to each Reorganization, the obligations of the Target Entity, on behalf of the Target Fund, to consummate the transactions provided for herein shall be subject to the performance, or to the extent legally permissible, the Target Entity’s waiver, of the obligations to be performed by the Acquiring Fund hereunder on or before the Closing Date and, in addition thereto, the following conditions:
(a) All representations and warranties of the Acquiring Fund and the Acquiring Entity contained in this Agreement shall be true and correct in all material respects as of the date hereof and, except as they may be affected by the transactions contemplated by this Agreement, as of the Closing Time, with the same force and effect as if made on and as of the Closing Time;
(b) The Acquiring Entity shall have delivered to the Target Fund as of the Closing Time a certificate executed in its name by its President or Vice President and Treasurer, in form and substance reasonably satisfactory to Target Fund and dated as of the Closing Date, to the effect that the representations and warranties of or with respect to the Acquiring Fund made in this Agreement are true and correct at and as of the Closing Time, except as they may be affected by the transactions contemplated by this Agreement;
(c) The Acquiring Entity and the Acquiring Fund shall have performed all of the covenants and complied with all of the provisions required by this Agreement to be
- 21 -
performed or complied with by the Acquiring Entity and the Acquiring Fund, on or before the Closing Time;
(d) The Target Fund and the Acquiring Fund shall have agreed on the number of full and fractional shares of each class of the Acquiring Fund to be issued in connection with the Reorganization after such number has been calculated in accordance with Section 1.2 hereto;
(e) As of the Closing Date, there shall have been no material change in the investment objectives, policies and restrictions or any increase in the investment management fee rate or other fee rates that the Acquiring Fund is contractually obligated to pay for services provided to the Acquiring Fund from those described in the N-14 Registration Statement;
(f) The Target Entity shall have received from the Target Transfer Agent a certificate stating that it has received from the Acquiring Entity the number of shares of the Acquiring Fund equal in value to the value of the shares of the Target Fund as of the time and date set forth in Section 3; and
(g) The Target Entity shall have received on the Closing Date the opinion of Xxxxxxxx Ronon Xxxxxxx & Xxxxx, LLP (“Xxxxxxxx Ronon”), counsel to the Acquiring Entity (which may rely on certificates of officers or trustees of the Acquiring Entity), dated as of the Closing Date, covering the following points:
(i) The Acquiring Entity is a statutory trust duly formed, validly existing and in good standing under the laws of the State of Delaware, and each has the trust power to own all of the Acquiring Fund’s properties and assets and to carry on its business, including that of the Acquiring Fund, as a registered investment company;
(ii) The Acquiring Entity is a registered investment company classified as a management company of the open-end type with respect to each series of shares it offers, including the Acquiring Fund, under the 1940 Act, and its registration with the Commission as an investment company under the 1940 Act is in full force and effect;
(iii) The Agreement has been duly authorized by the Acquiring Entity on behalf of the Acquiring Fund and, assuming due authorization, execution and delivery of the Agreement by the Target Entity, the Target Fund, OFI Global and OFI SteelPath is a valid and binding obligation of the Acquiring Entity, on behalf of the Acquiring Fund, enforceable against it in accordance with its terms, subject, as to enforcement, to bankruptcy, insolvency, fraudulent conveyance, reorganization, receivership, moratorium and other similar laws relating to or affecting creditors’ rights generally, general equity principles (whether considered in a proceeding in equity or at law) and to an implied covenant of good faith and fair dealing;
(iv) The Acquiring Fund shares to be issued to the Target Fund as provided by this Agreement are duly authorized, upon such delivery will be validly issued and upon receipt of the Target Fund’s Assets will be fully paid and non-assessable
- 22 -
by the Acquiring Entity, and no shareholder of an Acquiring Fund has any preemptive rights to subscription or purchase in respect thereof; and
(v) The execution and delivery of the Agreement did not, and the consummation of the transactions contemplated hereby will not, result in a violation of the Acquiring Entity’s Governing Documents or a breach or default under any material contract, agreement, instrument or other document pertaining to, or material to the business or financial condition of, the Acquiring Fund, or, to the knowledge of such counsel, result in the acceleration of any obligation or the imposition of any penalty under any such agreement.
| 7. | CONDITIONS PRECEDENT TO OBLIGATIONS OF THE ACQUIRING ENTITY |
7.1. With respect to each Reorganization, the obligations of the Acquiring Entity, on behalf of the Acquiring Fund, to consummate the transactions provided for herein shall be subject to the performance, or to the extent legally permissible, the Acquiring Fund’s waiver, of the obligations to be performed by the Target Fund hereunder on or before the Closing Date and, in addition thereto, the following conditions:
(a) All representations and warranties of the Target Entity and the Target Fund contained in this Agreement shall be true and correct in all material respects as of the date hereof and, except as they may be affected by the transactions contemplated by this Agreement, as of the Closing Time, with the same force and effect as if made on and as of the Closing Time;
(b) The Target Entity, on behalf of the Target Fund, shall have delivered to the Acquiring Entity (i) a statement of the Target Fund’s Assets and Liabilities, as of the Closing Date, certified by the Treasurer of the Target Entity, (ii) the Schedule of Statements, Books and Records, (iii) in electronic form, to the extent permitted by applicable law, all information pertaining to, or necessary or useful in the calculation or demonstration of, the investment performance of the Target Fund, (iv) the ASC 740-10 Workpapers, and (v) the Tax Accrual Workpapers and Tax Rate Calculations. The information to be provided under (ii), (iv) and (v) of this subsection shall be provided in accordance with the timing set forth in Section 5.1(f) hereof;
(c) The Target Entity shall have delivered to the Acquiring Entity as of the Closing Time a certificate executed in its name by its President or Vice President and Treasurer, in form and substance satisfactory to the Acquiring Fund and dated as of the Closing Date, to the effect that the representations and warranties of or with respect to the Target Fund made in this Agreement are true and correct at and as of the Closing Time;
(d) The Custodian and the Target Transfer Agent shall have delivered the certificates contemplated by Sections 3.2(b) and 3.2(d) of this Agreement, respectively, and the Treasurer of the Target Entity shall have delivered the certificate contemplated by Section 5.1(f) of this Agreement, each duly executed by an authorized officer of the Custodian, an authorized officer of the Target Transfer Agent or the Treasurer of the Target Entity, as applicable;
- 23 -
(e) The Target Entity and the Target Fund shall have performed all of the covenants and complied with all of the provisions required by this Agreement to be performed or complied with by the Target Entity and the Target Fund, on or before the Closing Time;
(f) The Target Fund and the Acquiring Fund shall have agreed on the number of full and fractional shares of each class of the Acquiring Fund set forth on Exhibit A hereto to be issued in connection with the Reorganization after such number has been calculated in accordance with Section 1.2 hereto;
(g) Unless the Target Fund has been notified by the Acquiring Fund (with such notice being delivered with sufficient time to permit the Target Fund to comply with this Section 7.1(g)) that the opinion delivered pursuant to Section 8.6 will not state that the Reorganization qualifies as a “reorganization” under Section 368(a)(1)(F) of the Code and the Target Fund and the Acquiring Fund do not otherwise determine that the Reorganization qualifies as a “reorganization” under Section 368(a)(1)(F) of the Code, the Target Fund (other than the C corporation Target Fund) shall have declared and paid a distribution or distributions prior to the Closing that, together with all previous distributions, shall have the effect of distributing to its shareholders (A) all of Target Fund’s investment company taxable income (determined without regard to any deductions for dividends paid) for the taxable year ended prior to the Closing Date and all of such investment company taxable income for the short taxable year beginning on the first day of its current taxable year and ending on the Closing Date, (B) all of Target Fund’s net capital gain recognized in its taxable year ended prior to the Closing Date and all of any such net capital gain recognized in the short taxable year beginning on the first day of its current taxable year and ending on the Closing Date (in each case after reduction for any capital loss carryover), and (C) at least 90 percent of the excess, if any, of a Target Fund’s interest income excludible from gross income under Section 103(a) of the Code over its deductions disallowed under Sections 265 and 171(a)(2) of the Code for the taxable year ended prior to the Closing Date and at least 90 percent of such net tax-exempt income for such final taxable year;
(h) The Target Entity shall have duly executed and delivered to the Acquiring Entity, on behalf of the Target Fund, such bills of sale, assignments, certificates and other instruments of transfer, including transfer instructions to the Custodian and instructions to the Acquiring Fund’s transfer agent as the Acquiring Entity may reasonably deem necessary or desirable to evidence the transfer to the Acquiring Fund by the Target Fund all of the right, title and interest of the Target Fund in and to the respective Assets of the Target Fund. In each case, the Assets of the Target Fund shall be accompanied by all necessary state stock transfer stamps or cash for the appropriate purchase price therefor;
(i) The Acquiring Entity shall have received at the Closing: (i) a certificate of an authorized signatory of the Custodian stating that the Assets of the Target Fund have been delivered to the Acquiring Fund; (ii) a certificate of an authorized signatory from the Custodian for the Acquiring Fund stating that the Assets of the Target Fund have been received; (iii) a certificate of an authorized officer of the Target Transfer Agent confirming that the transfer agent has delivered its records containing the names and
- 24 -
addresses of the record holders of the Target Fund’s shares and the number and percentage (to four decimal places) of ownership of the Target Fund owned by each such holder as of the Closing Date; and (iv) the Tax books and records of the Target Fund, including but not limited to, for purposes of preparing any Tax Returns required by law to be filed after the Closing Date;
(j) As of the Closing Date, there shall have been no material change in the investment objectives, policies and restrictions or any increase in the investment management fee rate or other fee rates that the Target Fund is contractually obligated to pay for services provided to the Target Fund from those described in the N-14 Registration Statement; and
(k) The Acquiring Entity shall have received on the Closing Date an opinion of counsel to each Target Entity (which may rely on certificates of officers or trustees of the Target Entity), covering the following points:
(i) The Target Entity is a statutory trust, duly organized, validly existing and in good standing under the laws of the State of Delaware, and has the power under its Governing Documents to own all of Target Fund’s properties and assets, and to conduct its business, including that of the Target Fund, as described in its organizational documents or in the most recently filed registration statement of the Target Fund;
(ii) The Target Entity is a registered investment company classified as a management company of the open-end type with respect to itself and, if applicable, each series of shares it offers, including the Target Fund, under the 1940 Act, and its registration with the Commission as an investment company under the 1940 Act is in full force and effect;
(iii) The Agreement has been duly authorized by the Target Entity on behalf of Target Fund and, assuming due authorization, execution and delivery of the Agreement by the Acquiring Entity and the Acquiring Fund, is a valid and binding obligation of the Target Entity, on behalf of the Target Fund, enforceable against the Target Entity in accordance with its terms, subject, as to enforcement, to bankruptcy, insolvency, fraudulent conveyance, reorganization, receivership, moratorium and other similar laws relating to or affecting creditors’ rights generally, general equity principles (whether considered in a proceeding in equity or at law) and to an implied covenant of good faith and fair dealing; and
(iv) The execution and delivery of the Agreement did not, and the consummation of the transactions contemplated hereby will not, result in a violation of, as appropriate, the Target Entity’s Governing Documents or a breach or default under any material contract, agreement, instrument or other document pertaining to, or material to the business or financial condition of, the Target Fund, or, to the knowledge of such counsel, result in the acceleration of any obligation or the imposition of any penalty under any such agreement.
- 25 -
| 8. | FURTHER CONDITIONS PRECEDENT TO OBLIGATIONS OF THE ACQUIRING ENTITY AND THE TARGET ENTITY |
With respect to each Reorganization, if any of the conditions set forth below have not been satisfied on or before the Closing Date with respect to the Target Fund or the Acquiring Fund, the Acquiring Entity or Target Entity, respectively, shall, at its option, not be required to consummate the transactions contemplated by this Agreement:
8.1. The Agreement shall have been approved by the requisite vote of the holders of the outstanding shares of the Target Fund in accordance with the provisions of the Target Entity’s Governing Documents, applicable law of the State of Delaware, and the 1940 Act, and certified copies of the voting record from the proxy solicitor evidencing such approval shall have been delivered to the Acquiring Fund. Notwithstanding anything herein to the contrary, neither the Target Fund nor the Acquiring Fund may waive the conditions set forth in this Section 8.1;
8.2. The Agreement and transactions contemplated herein shall have been approved by the board of trustees of the Target Entity and the board of trustees of the Acquiring Entity and each party shall have delivered to the other party a copy of the resolutions approving this Agreement and the transactions contemplated in connection herewith adopted by such party’s board of trustees, certified by the secretary or equivalent officer. Notwithstanding anything herein to the contrary, neither the Target Fund nor the Acquiring Fund may waive the conditions set forth in this Section 8.2;
8.3. On the Closing Date, no action, suit or other proceeding shall be pending or, to the Target Entity’s or the Acquiring Entity’s knowledge, threatened before any court or governmental agency in which it is sought to restrain or prohibit, or obtain damages or other relief in connection with, this Agreement or the transactions contemplated herein;
8.4. All consents of other parties and all other consents, orders and permits of federal, state and local regulatory authorities deemed necessary by the Acquiring Fund or Target Fund to permit consummation, in all material respects, of the transactions contemplated hereby shall have been obtained, except where failure to obtain any such consent, order or permit would not result in a material adverse effect on the Acquiring Fund or the Target Fund, provided that either party hereto may for itself waive any of such conditions;
8.5. The N-14 Registration Statement shall have become effective under the 1933 Act and no stop orders suspending the effectiveness thereof shall have been issued and, to the best knowledge of the parties hereto, no investigation or proceeding for that purpose shall have been instituted or be pending, threatened or contemplated under the 1933 Act;
8.6. The Target Entity (on behalf of each Target Fund) and the Acquiring Entity (on behalf of each Acquiring Fund) shall have received on or before the Closing Date an opinion of Xxxxxxxx Ronon in form and substance reasonably acceptable to the Target Entity and the Acquiring Entity, as to the matters set forth on Schedule 8.6. In rendering such opinion, Xxxxxxxx Ronon may request and rely upon representations contained in certificates of officers of the Target Entity, the Acquiring Entity and others, and the officers of the Target Entity and the Acquiring Entity shall use their best efforts to make available such truthful certificates. Such
- 26 -
opinion shall contain such limitations as shall be in the opinion of Xxxxxxxx Ronon appropriate to render the opinions expressed therein. Subject to receipt of the certificates referenced in this Section 8.6 and absent a change of law or change of fact between the date of this Agreement and the Closing, the Acquiring Fund agrees that such opinion shall state that the Reorganization will qualify as a “reorganization” under Section 368(a)(1)(F) of the Code. Notwithstanding anything herein to the contrary, neither the Acquiring Entity nor the Target Entity may waive the conditions set forth in this paragraph 8.6;
8.7. All of the transactions contemplated by the Transaction Agreement have been consummated.
| 9. | AGREEMENTS RELATING TO DEFERRED COMPENSATION |
9.1. Each Acquiring Fund shall assume all liabilities of the corresponding Target Fund for payment of compensation deferred under the Xxxxxxxxxxx Funds Compensation Deferral Plan (the “Deferred Compensation Plan”) and the Acquiring Entities shall continue to maintain the Deferred Compensation Plan until all such liabilities are satisfied in accordance with the terms of the Deferred Compensation Plan.
9.2. Following the Closing Date, the Acquiring Entities shall amend the Deferred Compensation Plan to provide for the cessation of compensation deferrals at the end of the year in which the Closing Date occurs.
9.3. Each Acquiring Entity and the corresponding Target Entity agree that each trustee of a Target Entity that becomes a trustee of the corresponding Acquiring Entity on or immediately following the Closing Date shall be treated for purposes of the Deferred Compensation Plan as not having a Separation from Service (as defined in the Deferred Compensation Plan) with regard to the Acquiring Entity or the Target Entity in connection with the Reorganizations.
9.4. Each trustee of a Target Entity that does not become a trustee of the corresponding Acquiring Entity on or immediately following the Closing Date shall be treated for purposes of the Deferred Compensation Plan as having a Separation from Service (as defined in the Deferred Compensation Plan) with respect to the Target Entity in connection with the Reorganizations and shall receive payment of compensation deferred under the Deferred Compensation Plan to the extent and in the manner provided in the Deferred Compensation Plan.
| 10. | BROKERAGE FEES AND EXPENSES |
10.1. The parties hereto represent and warrant to each other that there are no brokers or finders entitled to receive any payments in connection with the transactions provided for herein.
10.2. IAI, OFI Global and OFI SteelPath will bear or arrange for an entity under common ownership thereof to bear all of the expenses of the Target Entity and Acquiring Entity relating to the Reorganizations, whether or not the Reorganizations are consummated. The costs of the Reorganizations shall include, but not be limited to, costs associated with obtaining any necessary order of exemption from the 1940 Act, if any, terminating any existing agreements or contracts to which the Target Entity or Target Fund is a party (including any penalties payable in
- 27 -
connection with such termination), organizing each Acquiring Fund, preparation, printing and distribution of the N-14 Registration Statement for each Reorganization (including the prospectus/proxy statement contained therein), legal fees, accounting fees, expenses of holding shareholders’ meetings, and other related administrative or operational costs (including, for example, brokerage commissions; transfer fees, taxes and stamps; exchange fees; and securities registration fees).
| 11. | COOPERATION AND EXCHANGE OF INFORMATION |
With respect to each Reorganization, prior to the Closing and for a reasonable time thereafter, the Target Entity and the corresponding Acquiring Entity will provide each other and their respective representatives with such cooperation, assistance and information as is reasonably necessary (i) for the filing of any Tax Return, for the preparation for any audit, and for the prosecution or defense of any claim, suit or proceeding relating to any proposed adjustment, or (ii) for any financial accounting purpose. Each such party or their respective agents will retain until the applicable period for assessment under applicable law (giving effect to any and all extensions or waivers) has expired all returns, schedules and work papers and all material records or other documents relating to Tax matters and financial reporting of Tax positions of the Target Fund and the Acquiring Fund for its taxable period first ending after the Closing of the applicable Reorganization and for all prior taxable periods for which the statute of limitation had not run at the time of the Closing, provided that a Target Entity shall not be required to maintain any such documents that it has delivered to the Acquiring Fund.
| 12. | INDEMNIFICATION |
12.1. With respect to a Reorganization, the applicable Acquiring Entity, out of the assets of the Acquiring Fund, agrees to indemnify and hold harmless the Target Entity and each of the Target Entity’s officers and trustees from and against any and all losses, claims, damages, liabilities or expenses (including, without limitation, the payment of reasonable legal fees and reasonable costs of investigation) to which, jointly and severally, the Target Entity or any of its trustees or officers may become subject, insofar as such loss, claim, damage, liability or expense (or actions with respect thereto) arises out of or is based on any breach by the Acquiring Entity, on behalf of the Acquiring Fund, of any of its representations, warranties, covenants or agreements set forth in this Agreement. This indemnification obligation shall survive the termination of this Agreement and the closing of the Reorganization.
12.2. With respect to a Reorganization, the applicable Target Entity, out of the assets of the Target Fund as limited by Section 17.5 of this Agreement, agrees to indemnify and hold harmless the applicable Acquiring Entity and its officers and trustees from and against any and all losses, claims, damages, liabilities or expenses (including, without limitation, the payment of reasonable legal fees and reasonable costs of investigation) to which, jointly and severally, the Acquiring Entity or any of its trustees or officers may become subject, insofar as such loss, claim, damage, liability or expense (or actions with respect thereto) arises out of or is based on any breach by the Target Entity, on behalf of the Target Fund, of any of its representations, warranties, covenants or agreements set forth in this Agreement. This indemnification obligation shall survive the termination of this Agreement and the closing of the Reorganization.
- 28 -
| 13. | ENTIRE AGREEMENT; SURVIVAL OF WARRANTIES AND COVENANTS |
13.1. Except as described in Section 10.2, each party agrees that no party has made any representation, warranty or covenant not set forth herein and that this Agreement constitutes the entire agreement between the parties.
13.2. The representations, warranties and covenants contained in this Agreement or in any document delivered pursuant hereto or in connection herewith shall survive the consummation of the transactions contemplated hereunder. The covenants to be performed after the Closing shall survive the Closing.
| 14. | TERMINATION |
In addition, this Agreement may be terminated and the transactions contemplated hereby may be abandoned with respect to one or more (or all) Reorganizations at any time prior to the Closing Date by: (i) mutual agreement of the parties; (ii) either the Acquiring Entity or the Target Entity if the Closing shall not have occurred on or before September 30, 2019; unless such date is extended by mutual agreement of the Acquiring Entity and the Target Entity; or (iii) any party if one or more other parties shall have materially breached its obligations under this Agreement or made a material misrepresentation herein or in connection herewith which would render a condition set forth in this Agreement unable to be satisfied. In the event of any such termination, this Agreement shall become void and there shall be no liability hereunder on the part of any party or their respective directors/trustees or officers, except for (a) any such material breach or intentional misrepresentation or (b) the parties’ respective obligations under Sections 10.2 and 12, as to each of which all remedies at law or in equity of the party adversely affected shall survive. Further, this Agreement shall automatically terminate upon the termination of the Transaction Agreement.
| 15. | AMENDMENTS |
This Agreement may be amended, modified or supplemented in a writing signed by the parties hereto to be bound by such Amendment; provided, however, that following the meeting of the shareholders of the Target Fund called pursuant to Section 5.1(c) of this Agreement, no such amendment may have the effect of changing the provisions for determining the number of shares of the Acquiring Fund to be issued to the shareholders of the Target Fund under this Agreement to the detriment of such shareholders without their further approval.
| 16. | NOTICES |
Any notice, report, statement or demand required or permitted by any provisions of this Agreement shall be in writing and shall be given by facsimile, electronic delivery, personal service or prepaid or certified mail addressed to:
For each Target Entity:
[fund name]
000 Xxxxxxx Xxxxxx
Xxx Xxxx, XX 00000
- 29 -
Attn: Xxxxxx Xxxxxxxxx, Esq
Email: xxxxxxxxxx@xxxxxxxxx.xxx
With a copy to:
For Denver Board Funds (as defined in Exhibit A):
Ropes & Xxxx LLP
000 Xxxxx Xxxxxx Xxxxx
Xxxxxxx, XX 00000
Attn: Xx. Xxxxxxx Xxxx
Email: xxxxxxx.xxxx@xxxxxxxxx.xxx
For New York Board Funds (as defined in Exhibit A):
Xxxxxx Xxxxx Xxxxxxxx & Xxxxxxx, LLC
0000 Xxxxxx xx xxx Xxxxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Attn: Xx. Xxx Xxxxxx
Email: xxxxxxx@xxxxxxxxxxx.xxx
For OFI Global Asset Management, Inc.:
000 Xxxxxxx Xxxxxx
Xxx Xxxx, XX 00000
Attn: Xxxxxxxx Xxxxxx
Email: xxxxxxx@xxxxxxxxx.xxx
With a copy to:
000 Xxxxxxx Xxxxxx
Xxx Xxxx, XX 00000
Fax: 000-000-0000
Attn: General Counsel
For OFI SteelPath, Inc.:
000 Xxxxxxx Xxxxxx
Xxx Xxxx, XX 00000
Attn: Xxxxxxxx Xxxxxx
Email: xxxxxxx@xxxxxxxxx.xxx
with a copy to:
000 Xxxxxxx Xxxxxx
Xxx Xxxx, XX 00000
Fax: 000-000-0000
Attn: General Counsel
- 30 -
For each Acquiring Entity:
00 Xxxxxxxx Xxxxx, Xxxxx 0000
Xxxxxxx, XX 00000
Fax: 000-000-0000
Attn: General Counsel
with a copy to:
Xxxxxxxx Ronon Xxxxxxx & Xxxxx, LLP
0000 Xxx Xxxxxxxx Xxxxxx
Xxxxxxxxxxxx, XX 00000-0000
Fax: (000) 000-0000
Attn: Xxxxx X. Xxxx
For Invesco Advisers, Inc.:
00 Xxxxxxxx Xxxxx, Xxxxx 0000
Xxxxxxx, XX 00000-0000
Attn: Xxxxxxx X. Xxxxx
| 17. | HEADINGS; GOVERNING LAW; COUNTERPARTS; ASSIGNMENT; LIMITATION OF LIABILITY |
17.1. The Article and Section headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement.
17.2. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware and applicable federal law, without regard to its principles of conflicts of laws.
17.3. This Agreement shall bind and inure to the benefit of the parties hereto and their respective successors and assigns, but no assignment or transfer hereof or of any rights or obligations hereunder shall be made by any party without the written consent of the other parties. Nothing herein expressed or implied is intended or shall be construed to confer upon or give any person, firm or corporation, other than the parties hereto and their respective successors and assigns, any rights or remedies under or by reason of this Agreement.
17.4. This Agreement may be executed in any number of counterparts, each of which shall be considered an original.
17.5. Each Target Entity is a Delaware statutory trust. With respect to the Reorganization of each Target Fund that is a series of a Target Entity, the Target Entity is executing this Agreement on behalf of the Target Fund only. Pursuant to the Declaration of Trust of the Target Entity and Section 3804(a) of the Delaware Statutory Trust Act, there is a limitation on liability of each series such that (a) the debts, liabilities, obligations and expenses incurred, contracted or otherwise existing with respect to the Target Fund are enforceable against
- 31 -
the assets of that Target Fund only, and not against the assets of the Target Entity generally or the assets of any other series thereof, and (b) none of the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to the Target Entity generally or with respect to any other series thereof are enforceable against the assets of such Target Fund. Notwithstanding Section 15 of this Agreement, this Section 17.5 may not be amended;
17.6. It is expressly agreed that the obligations of the parties hereunder shall not be binding upon any of their respective directors or trustees, shareholders, nominees, officers, agents, or employees personally, but, except as provided in Section 10.2 hereof, shall bind only the property of the applicable Target Fund or the applicable Acquiring Fund as provided in the Governing Documents of the applicable Target Entity or the applicable Acquiring Entity, respectively. The execution and delivery by such officers shall not be deemed to have been made by any of them individually or to impose any liability on any of them personally, but shall bind only the property of such party.
| 18. | PUBLICITY/CONFIDENTIALITY |
18.1. The parties shall cooperate on determining the manner in which any public announcements or similar publicity with respect to this Agreement or the transactions contemplated herein are made, provided that nothing herein shall prevent either party from making such public announcements as may be required by law, in which case the party issuing such statement or communication shall use all reasonable commercial efforts to advise the other party prior to such issuance.
18.2. The Target Entity, Acquiring Entity, OFI Global, OFI SteelPath and IAI (for purposes of this Section 18, the “Protected Persons”) will hold, and will cause their board members, officers, employees, representatives, agents and affiliates to hold, in confidence, and not disclose to any other person, and not use in any way except in connection with the transactions herein contemplated and the conduct of the business of the Acquiring Funds in the ordinary course following the consummation of such transactions, without the prior written consent of the other Protected Persons, all confidential information obtained from the other Protected Persons in connection with the transactions contemplated by this Agreement, except such information may be disclosed: (i) to governmental or regulatory bodies, and, where necessary, to any other person in connection with the obtaining of consents or waivers as contemplated by this Agreement; (ii) if required by court order or decree or applicable law; (iii) if it is publicly available through no act or failure to act of such party; (iv) it if was already known to such party on a non-confidential basis on the date of receipt; (v) during the course of or in connection with any litigation, government investigation, arbitration, or other proceedings based upon or in connection with the subject matter of this Agreement, including, without limitation, the failure of the transactions contemplated hereby to be consummated; or (vi) if it is otherwise expressly provided for herein.
18.3. In the event of a termination of this Agreement, the Protected Persons agree that they along with their employees, representative agents and affiliates shall, and shall cause their affiliates to, except with the prior written consent of the other Protected Persons, keep secret and retain in confidence, and not use for the benefit of itself or themselves, nor disclose to any other
- 32 -
persons, any and all confidential or proprietary information relating to the other Protected Persons and their related parties and affiliates, whether obtained through their due diligence investigation, this Agreement or otherwise, except such information may be disclosed: (i) if required by court order or decree or applicable law; (ii) if it is publicly available through no act or failure to act of such party; (iii) if it was already known to such party on a non-confidential basis on the date of receipt; (iv) during the course of or in connection with any litigation, government investigation, arbitration, or other proceedings based upon or in connection with the subject matter of this Agreement, including, without limitation, the failure of the transactions contemplated hereby to be consummated; or (v) if it is otherwise expressly provided for herein.
[Signature pages follow]
- 33 -
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be approved on behalf of the Acquiring Fund and Target Fund.
| AIM Counselor Series Trust (Invesco Counselor Series Trust), on behalf of its series identified on Exhibit A hereto | AIM Equity Funds (Invesco Equity Funds), on behalf of its series identified on Exhibit A hereto | |||||||||||
| By: | /s/ Xxxxxxx X. Xxxxx |
By: | /s/ Xxxxxxx X. Xxxxx | |||||||||
| Name: | Xxxxxxx X. Xxxxx | Name: | Xxxxxxx X. Xxxxx | |||||||||
| Title: | Senior Vice President, Chief Legal Officer and Secretary | Title: | Senior Vice President, Chief Legal Officer and Secretary | |||||||||
| AIM Growth Series (Invesco Growth Series), on behalf of its series identified on Exhibit A hereto | AIM International Mutual Funds (Invesco International Mutual Funds), on behalf of its series identified on Exhibit A hereto | |||||||||||
| By: | /s/ Xxxxxxx X. Xxxxx |
By: | /s/ Xxxxxxx X. Xxxxx | |||||||||
| Name: | Xxxxxxx X. Xxxxx | Name: | Xxxxxxx X. Xxxxx | |||||||||
| Title: | Senior Vice President, Chief Legal Officer and Secretary | Title: | Senior Vice President, Chief Legal Officer and Secretary | |||||||||
| AIM Investment Funds (Invesco Investment Funds), on behalf of its series identified on Exhibit A hereto | AIM Investment Securities Funds (Invesco Investment Securities Funds), on behalf of its series identified on Exhibit A hereto | |||||||||||
| By: | /s/ Xxxxxxx X. Xxxxx |
By: | /s/ Xxxxxxx X. Xxxxx | |||||||||
| Name: | Xxxxxxx X. Xxxxx | Name: | Xxxxxxx X. Xxxxx | |||||||||
| Title: | Senior Vice President, Chief Legal Officer and Secretary | Title: | Senior Vice President, Chief Legal Officer and Secretary | |||||||||
| AIM Sector Funds (Invesco Sector Funds), on behalf of its series identified on Exhibit A hereto | AIM Tax-Exempt Funds (Invesco Tax-Exempt Funds), on behalf of its series identified on Exhibit A hereto | |||||||||||
| By: | /s/ Xxxxxxx X. Xxxxx |
By: | /s/ Xxxxxxx X. Xxxxx | |||||||||
| Name: | Xxxxxxx X. Xxxxx | Name: | Xxxxxxx X. Xxxxx | |||||||||
| Title: | Senior Vice President, Chief Legal Officer and Secretary | Title: | Senior Vice President, Chief Legal Officer and Secretary | |||||||||
| AIM Variable Insurance Funds (Invesco Variable Insurance Funds), on behalf of its series identified on Exhibit A hereto | Short-Term Investments Trust, on behalf of its series identified on Exhibit A hereto | |||||||||||
| By: | /s/ Xxxxxxx X. Xxxxx |
By: | /s/ Xxxxxxx X. Xxxxx | |||||||||
| Name: | Xxxxxxx X. Xxxxx | Name: | Xxxxxxx X. Xxxxx | |||||||||
| Title: | Senior Vice President, Chief Legal Officer and Secretary | Title: | Senior Vice President, Chief Legal Officer and Secretary | |||||||||
| OFI Funds Trust, on behalf of its series identified on Exhibit A hereto | OFI SteelPath Series Trust, on behalf of its series identified on Exhibit A hereto | |||||||||||
| By: | /s/ Xxxxxx X. Xxxxxxxxx |
By: | /s/ Xxxxxx X. Xxxxxxxxx | |||||||||
| Name: | Xxxxxx X. Xxxxxxxxx | Name: | Xxxxxx X. Xxxxxxxxx | |||||||||
| Title: | President | Title: | President | |||||||||
| Xxxxxxxxxxx Integrity Funds, on behalf of its series identified on Exhibit A hereto | Xxxxxxxxxxx Main Street Funds, on behalf of its series identified on Exhibit A hereto | |||||||||||
| By: | /s/ Xxxxxx X. Xxxxxxxxx |
By: | /s/ Xxxxxx X. Xxxxxxxxx | |||||||||
| Name: | Xxxxxx X. Xxxxxxxxx | Name: | Xxxxxx X. Xxxxxxxxx | |||||||||
| Title: | President | Title: | President | |||||||||
| Xxxxxxxxxxx Multi-State Municipal Trust, on behalf of its series identified on Exhibit A hereto | Xxxxxxxxxxx Portfolio Series, on behalf of its series identified on Exhibit A hereto | |||||||||||
| By: | /s/ Xxxxxx X. Xxxxxxxxx |
By: | /s/ Xxxxxx X. Xxxxxxxxx | |||||||||
| Name: | Xxxxxx X. Xxxxxxxxx | Name: | Xxxxxx X. Xxxxxxxxx | |||||||||
| Title: | President | Title: | President | |||||||||
| Xxxxxxxxxxx Quest for Value Funds, on behalf of its series identified on Exhibit A hereto | Xxxxxxxxxxx Series Fund, on behalf of its series identified on Exhibit A hereto | |||||||||||
| By: | /s/ Xxxxxx X. Xxxxxxxxx |
By: | /s/ Xxxxxx X. Xxxxxxxxx | |||||||||
| Name: | Xxxxxx X. Xxxxxxxxx | Name: | Xxxxxx X. Xxxxxxxxx | |||||||||
| Title: | President | Title: | President | |||||||||
| Xxxxxxxxxxx SteelPath MLP Funds Trust, on behalf of its series identified on Exhibit A hereto | Xxxxxxxxxxx Variable Account Funds, on behalf of its series identified on Exhibit A hereto | |||||||||||
| By: | /s/ Xxxxxx X. Xxxxxxxxx |
By: | /s/ Xxxxxx X. Xxxxxxxxx | |||||||||
| Name: | Xxxxxx X. Xxxxxxxxx | Name: | Xxxxxx X. Xxxxxxxxx | |||||||||
| Title: | President | Title: | President | |||||||||
| Rochester Portfolio Series, on behalf of its series identified on Exhibit A hereto | Xxxxxxxxxxx Capital Appreciation Fund | |||||||||||
| By: | /s/ Xxxxxx X. Xxxxxxxxx |
By: | /s/ Xxxxxx X. Xxxxxxxxx | |||||||||
| Name: | Xxxxxx X. Xxxxxxxxx | Name: | Xxxxxx X. Xxxxxxxxx | |||||||||
| Title: | President | Title: | President | |||||||||
| Xxxxxxxxxxx Capital Income Fund | Xxxxxxxxxxx Developing Markets Fund | |||||||||||
| By: | /s/ Xxxxxx X. Xxxxxxxxx |
By: | /s/ Xxxxxx X. Xxxxxxxxx | |||||||||
| Name: | Xxxxxx X. Xxxxxxxxx | Name: | Xxxxxx X. Xxxxxxxxx | |||||||||
| Title: | President | Title: | President | |||||||||
| Xxxxxxxxxxx Discovery Fund | Xxxxxxxxxxx Discovery Mid Cap Growth Fund | |||||||||||
| By: | /s/ Xxxxxx X. Xxxxxxxxx |
By: | /s/ Xxxxxx X. Xxxxxxxxx | |||||||||
| Name: | Xxxxxx X. Xxxxxxxxx | Name: | Xxxxxx X. Xxxxxxxxx | |||||||||
| Title: | President | Title: | President | |||||||||
| Xxxxxxxxxxx Dividend Opportunity Fund | Xxxxxxxxxxx Emerging Markets Innovators Fund | |||||||||||
| By: | /s/ Xxxxxx X. Xxxxxxxxx |
By: | /s/ Xxxxxx X. Xxxxxxxxx | |||||||||
| Name: | Xxxxxx X. Xxxxxxxxx | Name: | Xxxxxx X. Xxxxxxxxx | |||||||||
| Title: | President | Title: | President | |||||||||
| Xxxxxxxxxxx Emerging Markets Local Debt Fund | Xxxxxxxxxxx Equity Income Fund | |||||||||||
| By: | /s/ Xxxxxx X. Xxxxxxxxx |
By: | /s/ Xxxxxx X. Xxxxxxxxx | |||||||||
| Name: | Xxxxxx X. Xxxxxxxxx | Name: | Xxxxxx X. Xxxxxxxxx | |||||||||
| Title: | President | Title: | President | |||||||||
| Xxxxxxxxxxx Global Focus Fund | Xxxxxxxxxxx Global Fund | |||||||||||
| By: | /s/ Xxxxxx X. Xxxxxxxxx |
By: | /s/ Xxxxxx X. Xxxxxxxxx | |||||||||
| Name: | Xxxxxx X. Xxxxxxxxx | Name: | Xxxxxx X. Xxxxxxxxx | |||||||||
| Title: | President | Title: | President | |||||||||
| Xxxxxxxxxxx Global High Yield Fund | Xxxxxxxxxxx Global Multi-Asset Growth Fund | |||||||||||
| By: | /s/ Xxxxxx X. Xxxxxxxxx |
By: | /s/ Xxxxxx X. Xxxxxxxxx | |||||||||
| Name: | Xxxxxx X. Xxxxxxxxx | Name: | Xxxxxx X. Xxxxxxxxx | |||||||||
| Title: | President | Title: | President | |||||||||
| Xxxxxxxxxxx Global Multi-Asset Income Fund | Xxxxxxxxxxx Global Opportunities Fund | |||||||||||
| By: | /s/ Xxxxxx X. Xxxxxxxxx |
By: | /s/ Xxxxxx X. Xxxxxxxxx | |||||||||
| Name: | Xxxxxx X. Xxxxxxxxx | Name: | Xxxxxx X. Xxxxxxxxx | |||||||||
| Title: | President | Title: | President | |||||||||
| Xxxxxxxxxxx Global Strategic Income Fund | Xxxxxxxxxxx Gold & Special Minerals Fund | |||||||||||
| By: | /s/ Xxxxxx X. Xxxxxxxxx |
By: | /s/ Xxxxxx X. Xxxxxxxxx | |||||||||
| Name: | Xxxxxx X. Xxxxxxxxx | Name: | Xxxxxx X. Xxxxxxxxx | |||||||||
| Title: | President | Title: | President | |||||||||
| Xxxxxxxxxxx Government Cash Reserves | Xxxxxxxxxxx Government Money Market Fund | |||||||||||
| By: | /s/ Xxxxxx X. Xxxxxxxxx |
By: | /s/ Xxxxxx X. Xxxxxxxxx | |||||||||
| Name: | Xxxxxx X. Xxxxxxxxx | Name: | Xxxxxx X. Xxxxxxxxx | |||||||||
| Title: | President | Title: | President | |||||||||
| Xxxxxxxxxxx Institutional Government Money Market Fund | Xxxxxxxxxxx Intermediate Income Fund | |||||||||||
| By: | /s/ Xxxxxx X. Xxxxxxxxx |
By: | /s/ Xxxxxx X. Xxxxxxxxx | |||||||||
| Name: | Xxxxxx X. Xxxxxxxxx | Name: | Xxxxxx X. Xxxxxxxxx | |||||||||
| Title: | President | Title: | President | |||||||||
| Xxxxxxxxxxx Intermediate Term Municipal Fund | Xxxxxxxxxxx International Bond Fund | |||||||||||
| By: | /s/ Xxxxxx X. Xxxxxxxxx |
By: | /s/ Xxxxxx X. Xxxxxxxxx | |||||||||
| Name: | Xxxxxx X. Xxxxxxxxx | Name: | Xxxxxx X. Xxxxxxxxx | |||||||||
| Title: | President | Title: | President | |||||||||
| Xxxxxxxxxxx International Diversified Fund | Xxxxxxxxxxx International Equity Fund | |||||||||||
| By: | /s/ Xxxxxx X. Xxxxxxxxx |
By: | /s/ Xxxxxx X. Xxxxxxxxx | |||||||||
| Name: | Xxxxxx X. Xxxxxxxxx | Name: | Xxxxxx X. Xxxxxxxxx | |||||||||
| Title: | President | Title: | President | |||||||||
| Xxxxxxxxxxx International Growth Fund | Xxxxxxxxxxx International Small-Mid Company Fund | |||||||||||
| By: | /s/ Xxxxxx X. Xxxxxxxxx |
By: | /s/ Xxxxxx X. Xxxxxxxxx | |||||||||
| Name: | Xxxxxx X. Xxxxxxxxx | Name: | Xxxxxx X. Xxxxxxxxx | |||||||||
| Title: | President | Title: | President | |||||||||
| Xxxxxxxxxxx Limited-Term Bond Fund | Xxxxxxxxxxx Limited-Term Government Fund | |||||||||||
| By: | /s/ Xxxxxx X. Xxxxxxxxx |
By: | /s/ Xxxxxx X. Xxxxxxxxx | |||||||||
| Name: | Xxxxxx X. Xxxxxxxxx | Name: | Xxxxxx X. Xxxxxxxxx | |||||||||
| Title: | President | Title: | President | |||||||||
| Xxxxxxxxxxx Macquarie Global Infrastructure Fund | Xxxxxxxxxxx Main Street All Cap Fund® | |||||||||||
| By: | /s/ Xxxxxx X. Xxxxxxxxx |
By: | /s/ Xxxxxx X. Xxxxxxxxx | |||||||||
| Name: | Xxxxxx X. Xxxxxxxxx | Name: | Xxxxxx X. Xxxxxxxxx | |||||||||
| Title: | President | Title: | President | |||||||||
| Xxxxxxxxxxx Main Street Mid Cap Fund® | Xxxxxxxxxxx Main Street Small Cap Fund® | |||||||||||
| By: | /s/ Xxxxxx X. Xxxxxxxxx |
By: | /s/ Xxxxxx X. Xxxxxxxxx | |||||||||
| Name: | Xxxxxx X. Xxxxxxxxx | Name: | Xxxxxx X. Xxxxxxxxx | |||||||||
| Title: | President | Title: | President | |||||||||
| Xxxxxxxxxxx Municipal Fund | Xxxxxxxxxxx Real Estate Fund | |||||||||||
| By: | /s/ Xxxxxx X. Xxxxxxxxx |
By: | /s/ Xxxxxx X. Xxxxxxxxx | |||||||||
| Name: | Xxxxxx X. Xxxxxxxxx | Name: | Xxxxxx X. Xxxxxxxxx | |||||||||
| Title: | President | Title: | President | |||||||||
| Xxxxxxxxxxx Rising Dividends Fund | Xxxxxxxxxxx Rochester AMT-Free Municipal Fund | |||||||||||
| By: | /s/ Xxxxxx X. Xxxxxxxxx |
By: | /s/ Xxxxxx X. Xxxxxxxxx | |||||||||
| Name: | Xxxxxx X. Xxxxxxxxx | Name: | Xxxxxx X. Xxxxxxxxx | |||||||||
| Title: | President | Title: | President | |||||||||
| Xxxxxxxxxxx Rochester AMT-Free New York Municipal Fund | Xxxxxxxxxxx Rochester California Municipal Fund | |||||||||||
| By: | /s/ Xxxxxx X. Xxxxxxxxx |
By: | /s/ Xxxxxx X. Xxxxxxxxx | |||||||||
| Name: | Xxxxxx X. Xxxxxxxxx | Name: | Xxxxxx X. Xxxxxxxxx | |||||||||
| Title: | President | Title: | President | |||||||||
| Xxxxxxxxxxx Rochester Fund Municipals | Xxxxxxxxxxx Rochester Limited Term California Municipal Fund | |||||||||||
| By: | /s/ Xxxxxx X. Xxxxxxxxx |
By: | /s/ Xxxxxx X. Xxxxxxxxx | |||||||||
| Name: | Xxxxxx X. Xxxxxxxxx | Name: | Xxxxxx X. Xxxxxxxxx | |||||||||
| Title: | President | Title: | President | |||||||||
| Xxxxxxxxxxx Rochester Short Duration High Yield Municipal Fund | ||||||||||||
| By: | /s/ Xxxxxx X. Xxxxxxxxx |
|||||||||||
| Name: | Xxxxxx X. Xxxxxxxxx | |||||||||||
| Title: | President | |||||||||||
| Xxxxxxxxxxx Senior Floating Rate Fund | Xxxxxxxxxxx Senior Floating Rate Plus Fund | |||||||||||
| By: | /s/ Xxxxxx X. Xxxxxxxxx |
By: | /s/ Xxxxxx X. Xxxxxxxxx | |||||||||
| Name: | Xxxxxx X. Xxxxxxxxx | Name: | Xxxxxx X. Xxxxxxxxx | |||||||||
| Title: | President | Title: | President | |||||||||
| Xxxxxxxxxxx Short Term Municipal Fund | Xxxxxxxxxxx Small Cap Value Fund | |||||||||||
| By: | /s/ Xxxxxx X. Xxxxxxxxx |
By: | /s/ Xxxxxx X. Xxxxxxxxx | |||||||||
| Name: | Xxxxxx X. Xxxxxxxxx | Name: | Xxxxxx X. Xxxxxxxxx | |||||||||
| Title: | President | Title: | President | |||||||||
| Xxxxxxxxxxx SteelPath Panoramic Fund | Xxxxxxxxxxx Ultra-Short Duration Fund | |||||||||||
| By: | /s/ Xxxxxx X. Xxxxxxxxx |
By: | /s/ Xxxxxx X. Xxxxxxxxx | |||||||||
| Name: | Xxxxxx X. Xxxxxxxxx | Name: | Xxxxxx X. Xxxxxxxxx | |||||||||
| Title: | President | Title: | President | |||||||||
| Invesco Advisers, Inc., solely with respect to Sections 1.2(c), 1.2(f), 5.1(a), 10, 14, 15, 17.1, 17.2, 17.3, 17.6 and 18 | ||||
| By: | /s/ Xxxxxxx X. Xxxxx | |||
| Name: | Xxxxxxx X. Xxxxx | |||
| Title: | Senior Vice President and Secretary | |||
| OFI Global Asset Management, Inc., solely with respect to Sections 1.2(c), 1.2(f), 5.1(a), 10, 14, 15, 17.1, 17.2, 17.3, 17.6 and 18 |
OFI SteelPath, Inc., solely with respect to Sections 1.2(c), 1.2(f), 5.1(a), 10, 14, 15, 17.1, 17.2, 17.3, 17.6 and 18 | |||||||||||
| By: | /s/ Xxxxxxx Xx Xxxxxxxx |
By: | /s/ Xxxxxxx Xx Xxxxxxxx | |||||||||
| Name: | Xxxxxxx Xx Xxxxxxxx | Name: | Xxxxxxx Xx Xxxxxxxx | |||||||||
| Title: | Executive Vice President, General Counsel and Secretary | Title: | General Counsel | |||||||||
EXHIBIT A
CHART OF REORGANIZATIONS
New York Board Funds
| Acquiring Fund and Acquiring Entity (and share classes) |
|
Corresponding Target Fund and Target Entity (and share classes) | ||
| AIM Counselor Series Trust (Invesco Counselor Series Trust) | ||||
| Invesco Xxxxxxxxxxx Capital Appreciation Fund, a series of AIM Counselor Series Trust (Invesco Counselor Series Trust) |
Xxxxxxxxxxx Capital Appreciation Fund | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class R |
Class R | |||
| Class Y |
Class Y | |||
| Class R6 |
Class I | |||
| Invesco Xxxxxxxxxxx Discovery Fund, a series of AIM Counselor Series Trust (Invesco Counselor Series Trust) |
Xxxxxxxxxxx Discovery Fund | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class R |
Class R | |||
| Class Y |
Class Y | |||
| Class R6 |
Class I | |||
| Invesco Xxxxxxxxxxx Equity Income Fund, a series of AIM Counselor Series Trust (Invesco Counselor Series Trust) |
Xxxxxxxxxxx Equity Income Fund | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class R |
Class R | |||
| Class Y |
Class Y | |||
| Class R6 |
Class I | |||
| Invesco Xxxxxxxxxxx Real Estate Fund, a series of AIM Counselor Series Trust (Invesco Counselor Series Trust) |
Xxxxxxxxxxx Real Estate Fund | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class R |
Class R | |||
| Class Y |
Class Y | |||
| Class R6 |
Class I | |||
| Invesco Xxxxxxxxxxx Rochester® Short Duration High Yield Municipal Fund, a series of AIM Counselor Series Trust (Invesco Counselor Series Trust) |
|
Xxxxxxxxxxx Rochester® Short Duration High Yield Municipal Fund | ||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class Y |
Class Y | |||
| Invesco Xxxxxxxxxxx Short Term Municipal Fund, a series of AIM Counselor Series Trust (Invesco Counselor Series Trust) |
Xxxxxxxxxxx Short Term Municipal Fund | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class Y |
Class Y | |||
| AIM Equity Funds (Invesco Equity Funds) | ||||
| Invesco Xxxxxxxxxxx Dividend Opportunity Fund, a series of AIM Equity Funds (Invesco Equity Funds) |
Xxxxxxxxxxx Dividend Opportunity Fund | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class R |
Class R | |||
| Class Y |
Class Y | |||
| Class R6 |
Class I | |||
| Invesco Xxxxxxxxxxx Rising Dividends Fund, a series of AIM Equity Funds (Invesco Equity Funds) |
Xxxxxxxxxxx Rising Dividends Fund | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class R |
Class R | |||
| Class Y |
Class Y | |||
| Class R6 |
Class I | |||
| AIM Growth Series (Invesco Growth Series) | ||||
| Invesco Xxxxxxxxxxx International Diversified Fund, a series of AIM Growth Series (Invesco Growth Series) |
Xxxxxxxxxxx International Diversified Fund | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class R |
Class R | |||
| Class Y |
Class Y | |||
| Class R6 |
Class I | |||
| Invesco Xxxxxxxxxxx Mid Cap Value Fund, a series of AIM Growth Series (Invesco Growth Series) |
Xxxxxxxxxxx Mid Cap Value Fund, a series of Xxxxxxxxxxx Quest for Value Funds | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class R |
Class R | |||
| Class Y |
Class Y | |||
| Class R6 |
Class I | |||
| Invesco Xxxxxxxxxxx Portfolio Series: Active Allocation Fund, a series of AIM Growth Series (Invesco Growth Series) |
Xxxxxxxxxxx Portfolio Series: Active Allocation Fund, a series of Xxxxxxxxxxx Portfolio Series | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class R |
Class R | |||
| Class Y |
Class Y | |||
| Invesco Xxxxxxxxxxx Portfolio Series: Conservative Investor Fund, a series of AIM Growth Series (Invesco Growth Series) |
Xxxxxxxxxxx Portfolio Series: Conservative Investor Fund, a series of Xxxxxxxxxxx Portfolio Series | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class R |
Class R | |||
| Class Y |
Class Y | |||
| Invesco Xxxxxxxxxxx Portfolio Series: Growth Investor Fund, a series of AIM Growth Series (Invesco Growth Series) |
Xxxxxxxxxxx Portfolio Series: Growth Investor Fund, a series of Xxxxxxxxxxx Portfolio Series | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class R |
Class R | |||
| Class Y |
Class Y | |||
| Invesco Xxxxxxxxxxx Portfolio Series: Moderate Investor Fund, a series of AIM Growth Series (Invesco Growth Series) |
Xxxxxxxxxxx Portfolio Series: Moderate Investor Fund, a series of Xxxxxxxxxxx Portfolio Series | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class R |
Class R | |||
| Class Y |
Class Y | |||
| AIM International Mutual Funds (Invesco International Mutual Funds) | ||||
| Invesco Xxxxxxxxxxx Global Focus Fund, a series of AIM International Mutual Funds (Invesco International Mutual Funds) |
Xxxxxxxxxxx Global Focus Fund | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class R |
Class R | |||
| Class Y |
Class Y | |||
| Class R6 |
Class I | |||
| Invesco Xxxxxxxxxxx Global Fund, a series of AIM International Mutual Funds (Invesco |
Xxxxxxxxxxx Global Fund | |||
| International Mutual Funds) |
|
|||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class R |
Class R | |||
| Class Y |
Class Y | |||
| Class R6 |
Class I | |||
| Invesco Xxxxxxxxxxx Global Multi-Asset Growth Fund, a series of AIM International Mutual Funds (Invesco International Mutual Funds) |
Xxxxxxxxxxx Global Multi-Asset Growth Fund | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class R |
Class R | |||
| Class Y |
Class Y | |||
| Class R6 |
Class I | |||
| Invesco Xxxxxxxxxxx Global Opportunities Fund, a series of AIM International Mutual Funds (Invesco International Mutual Funds) |
Xxxxxxxxxxx Global Opportunities Fund | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class R |
Class R | |||
| Class Y |
Class Y | |||
| Class R6 |
Class I | |||
| Invesco Xxxxxxxxxxx International Equity Fund, a series of AIM International Mutual Funds (Invesco International Mutual Funds) |
Xxxxxxxxxxx International Equity Fund | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class R |
Class R | |||
| Class Y |
Class Y | |||
| Class R6 |
Class I | |||
| Invesco Xxxxxxxxxxx International Growth Fund, a series of AIM International Mutual Funds (Invesco International Mutual Funds) |
Xxxxxxxxxxx International Growth Fund | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class R |
Class R | |||
| Class Y |
Class Y | |||
| Class R6 |
Class I | |||
| Invesco Xxxxxxxxxxx International Small-Mid Company Fund, a series of AIM International Mutual Funds (Invesco International Mutual Funds) |
Xxxxxxxxxxx International Small-Mid Company Fund | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class R |
Class R | |||
| Class Y |
Class Y | |||
| Class R6 |
Class I | |||
| AIM Investment Funds (Invesco Investment Funds) | ||||
| Invesco Xxxxxxxxxxx Developing Markets Fund, a series of AIM Investment Funds (Invesco Investment Funds) |
Xxxxxxxxxxx Developing Markets Fund | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class R |
Class R | |||
| Class Y |
Class Y | |||
| Class R6 |
Class I | |||
| Invesco Xxxxxxxxxxx Discovery Mid Cap Growth Fund, a series of AIM Investment Funds (Invesco Investment Funds) |
Xxxxxxxxxxx Discovery Mid Cap Growth Fund | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class R |
Class R | |||
| Class Y |
Class Y | |||
| Class R6 |
Class I | |||
| Invesco Xxxxxxxxxxx Emerging Markets Innovators Fund, a series of AIM Investment Funds (Invesco Investment Funds) |
Xxxxxxxxxxx Emerging Markets Innovators Fund | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class R |
Class R | |||
| Class Y |
Class Y | |||
| Class R6 |
Class I | |||
| Invesco Xxxxxxxxxxx Fundamental Alternatives Fund, a series of AIM Investment Funds (Invesco Investment Funds) |
Xxxxxxxxxxx Fundamental Alternatives Fund, a series of Xxxxxxxxxxx Quest for Value Funds | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class R |
Class R | |||
| Class Y |
Class Y | |||
| Class R6 |
Class I | |||
| Invesco Xxxxxxxxxxx Global Allocation Fund, a series of AIM Investment Funds (Invesco Investment Funds) |
Xxxxxxxxxxx Global Allocation Fund a series of Xxxxxxxxxxx Quest for Value Funds | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class R |
Class R | |||
| Class Y |
Class Y | |||
| Class R6 |
Class I | |||
| Invesco Xxxxxxxxxxx Global Multi-Asset Income Fund, a series of AIM Investment Funds (Invesco Investment Funds) |
|
Xxxxxxxxxxx Global Multi-Asset Income Fund | ||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class R |
Class R | |||
| Class Y |
Class Y | |||
| Class R6 |
Class I | |||
| Invesco Xxxxxxxxxxx Macquarie Global Infrastructure Fund, a series of AIM Investment Funds (Invesco Investment Funds) |
Xxxxxxxxxxx Macquarie Global Infrastructure Fund | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class R |
Class R | |||
| Class Y |
Class Y | |||
| Class R6 |
Class I | |||
| AIM Investment Securities Funds (Invesco Investment Securities Funds) | ||||
| Invesco Xxxxxxxxxxx Government Money Market Fund, a series of AIM Investment Securities Funds (Invesco Investment Securities Funds) |
Xxxxxxxxxxx Government Money Market Fund | |||
| Class Y |
Class A | |||
| Class Y |
Class Y | |||
| Invesco Xxxxxxxxxxx Limited-Term Bond Fund, a series of AIM Investment Securities Funds (Invesco Investment Securities Funds) |
Xxxxxxxxxxx Limited-Term Bond Fund | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class R |
Class R | |||
| Class Y |
Class Y | |||
| Class R6 |
Class I | |||
| AIM Sector Funds (Invesco Sector Funds) | ||||
| Invesco OFI Pictet Global Environmental Solutions Fund, a series of AIM Sector Funds (Invesco Sector Funds) |
OFI Pictet Global Environmental Solutions Fund, a series of OFI Funds Trust | |||
| Class Y |
Class Y | |||
| Class R6 |
Class I | |||
| Invesco Xxxxxxxxxxx Gold & Special |
Oppenheimer Gold & Special Minerals Fund | |||
| Minerals Fund, a series of AIM Sector Funds (Invesco Sector Funds) |
||||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class R |
Class R | |||
| Class Y |
Class Y | |||
| Class R6 |
Class I | |||
| Invesco Xxxxxxxxxxx Small Cap Value Fund, a series of AIM Sector Funds (Invesco Sector Funds) |
Xxxxxxxxxxx Small Cap Value Fund | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class R |
Class R | |||
| Class Y |
Class Y | |||
| Class R6 |
Class I | |||
| Invesco Xxxxxxxxxxx Value Fund, a series of AIM Sector Funds (Invesco Sector Funds) |
Xxxxxxxxxxx Value Fund, a series of Oppenheimer Series Fund | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class R |
Class R | |||
| Class Y |
Class Y | |||
| Class R6 |
Class I | |||
| AIM Tax-Exempt Funds (Invesco Tax-Exempt Funds) | ||||
| Invesco Xxxxxxxxxxx Intermediate Term Municipal Fund, a series of AIM Tax-Exempt Funds (Invesco Tax-Exempt Funds) |
Xxxxxxxxxxx Intermediate Term Municipal Fund | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class Y |
Class Y | |||
| Invesco Xxxxxxxxxxx Municipal Fund, a series of AIM Tax-Exempt Funds (Invesco Tax-Exempt Funds) |
Xxxxxxxxxxx Municipal Fund | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class Y |
Class Y | |||
| Invesco Xxxxxxxxxxx Rochester® AMT-Free Municipal Fund, a series of AIM Tax-Exempt Funds (Invesco Tax-Exempt Funds) |
Xxxxxxxxxxx Rochester® AMT-Free Municipal Fund | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class Y |
Class Y | |||
| Invesco Xxxxxxxxxxx Rochester® AMT-Free |
Oppenheimer Rochester® AMT-Free New York | |||
| New York Municipal Fund, a series of AIM Tax-Exempt Funds (Invesco Tax-Exempt Funds) |
Municipal Fund | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class Y |
Class Y | |||
| Invesco Xxxxxxxxxxx Rochester® California Municipal Fund, a series of AIM Tax-Exempt Funds (Invesco Tax-Exempt Funds) |
|
Xxxxxxxxxxx Rochester® California Municipal Fund | ||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class Y |
Class Y | |||
| Invesco Xxxxxxxxxxx Rochester® High Yield Municipal Fund, a series of AIM Tax-Exempt Funds (Invesco Tax-Exempt Funds) |
Xxxxxxxxxxx Rochester® High Yield Municipal Fund, a series of Oppenheimer Multi-State Municipal Trust | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class Y |
Class Y | |||
| Invesco Xxxxxxxxxxx Rochester® Limited Term California Municipal Fund, a series of AIM Tax-Exempt Funds (Invesco Tax-Exempt Funds) |
Xxxxxxxxxxx Rochester® Limited Term California Municipal Fund | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class Y |
Class Y | |||
| Invesco Xxxxxxxxxxx Rochester® Limited Term New York Municipal Fund, a series of AIM Tax-Exempt Funds (Invesco Tax-Exempt Funds) |
Xxxxxxxxxxx Rochester® Limited Term New York Municipal Fund, a series of Rochester® Portfolio Series | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class Y |
Class Y | |||
| Invesco Xxxxxxxxxxx Rochester® Municipals Fund, a series of AIM Tax-Exempt Funds (Invesco Tax-Exempt Funds) |
Xxxxxxxxxxx Rochester® Fund Municipals | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class Y |
Class Y | |||
| Invesco Xxxxxxxxxxx Rochester® New Jersey Municipal Fund, a series of AIM Tax-Exempt Funds (Invesco Tax-Exempt Funds) |
Xxxxxxxxxxx Rochester® New Jersey Municipal Fund, a series of Oppenheimer Multi-State Municipal Trust | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class Y |
Class Y | |||
| Invesco Xxxxxxxxxxx Rochester® Pennsylvania Municipal Fund, a series of AIM Tax-Exempt Funds (Invesco Tax-Exempt Funds) |
Xxxxxxxxxxx Rochester® Pennsylvania Municipal Fund, a series of Oppenheimer Multi-State Municipal Trust | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class Y |
Class Y | |||
| Short-Term Investments Trust | ||||
| Invesco Oppenheimer Institutional Government Money Market Fund, a series of Short-Term Investments Trust |
Oppenheimer Institutional Government Money Market Fund | |||
| Institutional |
Class E | |||
| Institutional |
Class L | |||
| Private Investment Class |
Class P | |||
Denver Board Funds
| Acquiring Fund and Acquiring Entity (and share classes) |
|
Corresponding Target Fund and Target Entity (and share classes) | ||
| AIM Counselor Series Trust (Invesco Counselor Series Trust) | ||||
| Invesco Oppenheimer Senior Floating Rate Fund, a series of AIM Counselor Series Trust (Invesco Counselor Series Trust) |
Oppenheimer Senior Floating Rate Fund | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class R |
Class R | |||
| Class Y |
Class Y | |||
| Class R6 |
Class I | |||
| Invesco Oppenheimer Senior Floating Rate Plus Fund, a series of AIM Counselor Series Trust (Invesco Counselor Series Trust) |
Oppenheimer Senior Floating Rate Plus Fund | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class Y |
Class Y | |||
| Class R6 |
Class I | |||
| AIM Equity Funds (Invesco Equity Funds) | ||||
| Invesco Oppenheimer Main Street All Cap Fund®, a series of AIM Equity Funds (Invesco Equity Funds) |
|
Oppenheimer Main Street All Cap Fund® | ||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class R |
Class R | |||
| Class Y |
Class Y | |||
| Invesco Xxxxxxxxxxx Main Street Fund®, a series of AIM Equity Funds (Invesco Equity Funds) |
Xxxxxxxxxxx Xxxx Xxxxxx Fund®, a series of Oppenheimer Main Street Funds | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class R |
Class R | |||
| Class Y |
Class Y | |||
| Class R6 |
Class I | |||
| AIM Growth Series (Invesco Growth Series) | ||||
| Invesco Oppenheimer Main Street Mid Cap Fund®, a series of AIM Growth Series (Invesco Growth Series) |
Oppenheimer Main Street Mid Cap Fund® | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class R |
Class R | |||
| Class Y |
Class Y | |||
| Class R6 |
Class I | |||
| Invesco Oppenheimer Main Street Small Cap Fund®, a series of AIM Growth Series (Invesco Growth Series) |
Oppenheimer Main Street Small Cap Fund® | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class R |
Class R | |||
| Class Y |
Class Y | |||
| Class R6 |
Class I | |||
| AIM Investment Funds (Invesco Investment Funds) | ||||
| Invesco Xxxxxxxxxxx Capital Income Fund, a series of AIM Investment Funds (Invesco Investment Funds) |
Oppenheimer Capital Income Fund | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class R |
Class R | |||
| Class Y |
Class Y | |||
| Class R6 |
Class I | |||
| Invesco Oppenheimer Emerging Markets Local Debt Fund, a series of AIM Investment |
Oppenheimer Emerging Markets Local Debt Fund | |||
| Funds (Invesco Investment Funds) |
|
|||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class R |
Class R | |||
| Class Y |
Class Y | |||
| Class R6 |
Class I | |||
| Invesco Xxxxxxxxxxx Global Strategic Income Fund, a series of AIM Investment Funds (Invesco Investment Funds) |
Oppenheimer Global Strategic Income Fund | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class R |
Class R | |||
| Class Y |
Class Y | |||
| Class R6 |
Class I | |||
| Invesco Xxxxxxxxxxx Global Unconstrained Bond Fund, a series of AIM Investment Funds (Invesco Investment Funds) |
Oppenheimer Global Unconstrained Bond Fund, a series of Xxxxxxxxxxx Integrity Funds | |||
| Class A |
Class A | |||
| Class Y |
Class Y | |||
| Class R6 |
Class I | |||
| Invesco Xxxxxxxxxxx International Bond Fund, a series of AIM Investment Funds (Invesco Investment Funds) |
Xxxxxxxxxxx International Bond Fund | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class R |
Class R | |||
| Class Y |
Class Y | |||
| Class R6 |
Class I | |||
| Invesco Xxxxxxxxxxx Preferred Securities and Income Fund, a series of AIM Investment Funds (Invesco Investment Funds) |
Oppenheimer Preferred Securities and Income Fund, a series of Xxxxxxxxxxx Integrity Funds | |||
| Class A |
Class A | |||
| Class Y |
Class Y | |||
| Class R6 |
Class I | |||
| Invesco Xxxxxxxxxxx SteelPath MLP & Energy Infrastructure Fund, a series of AIM Investment Funds (Invesco Investment Funds) |
Xxxxxxxxxxx SteelPath MLP & Energy Infrastructure Fund, a series of OFI SteelPath Series Trust | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class Y |
Class Y | |||
| Class R6 |
Class I | |||
| Invesco Xxxxxxxxxxx SteelPath MLP Alpha Fund, a series of AIM Investment Funds (Invesco Investment Funds) |
|
Xxxxxxxxxxx SteelPath MLP Alpha Fund, a series of Oppenheimer SteelPath MLP Funds Trust | ||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class Y |
Class Y | |||
| Class R6 |
Class I | |||
| Invesco Xxxxxxxxxxx SteelPath MLP Alpha Plus Fund, a series of AIM Investment Funds (Invesco Investment Funds) |
Xxxxxxxxxxx SteelPath MLP Alpha Plus Fund, a series of Oppenheimer SteelPath MLP Funds Trust | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class Y |
Class Y | |||
| Class R6 |
Class I | |||
| Invesco Xxxxxxxxxxx SteelPath MLP Income Fund, a series of AIM Investment Funds (Invesco Investment Funds) |
Xxxxxxxxxxx SteelPath MLP Income Fund, a series of Oppenheimer SteelPath MLP Funds Trust | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class Y |
Class Y | |||
| Class R6 |
Class I | |||
| Invesco Xxxxxxxxxxx SteelPath MLP Select 40 Fund, a series of AIM Investment Funds (Invesco Investment Funds) |
Xxxxxxxxxxx SteelPath MLP Select 40 Fund, a series of Oppenheimer SteelPath MLP Funds Trust | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class Y |
Class Y and Class W | |||
| Class R6 |
Class I | |||
| Invesco Xxxxxxxxxxx SteelPath Panoramic Fund, a series of AIM Investment Funds (Invesco Investment Funds) |
Xxxxxxxxxxx SteelPath Panoramic Fund | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class R |
Class R | |||
| Class Y |
Class Y | |||
| Class R6 |
Class I | |||
| Invesco Xxxxxxxxxxx Total Return Bond Fund, a series of AIM Investment Funds (Invesco Investment Funds) |
Oppenheimer Total Return Bond Fund, a series of Xxxxxxxxxxx Integrity Funds | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class R |
Class R | |||
| Class Y |
Class Y | |||
| Class R6 |
Class I | |||
| AIM Investment Securities Funds (Invesco Investment Securities Funds) | ||||
| Invesco Xxxxxxxxxxx Global High Yield Fund, a series of AIM Investment Securities Funds (Invesco Investment Securities Funds) |
Xxxxxxxxxxx Global High Yield Fund | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class R |
Class R | |||
| Class Y |
Class Y | |||
| Class R6 |
Class I | |||
| Invesco Xxxxxxxxxxx Government Cash Reserves Fund, a series of AIM Investment Securities Funds (Invesco Investment Securities Funds) |
Xxxxxxxxxxx Government Cash Reserves | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class R |
Class R | |||
| Invesco Xxxxxxxxxxx Intermediate Income Fund, a series of AIM Investment Securities Funds (Invesco Investment Securities Funds) |
Xxxxxxxxxxx Intermediate Income Fund | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class R |
Class R | |||
| Class Y |
Class Y | |||
| Class R6 |
Class I | |||
| Invesco Xxxxxxxxxxx Limited-Term Government Fund, a series of AIM Investment Securities Funds (Invesco Investment Securities Funds) |
Xxxxxxxxxxx Limited-Term Government Fund | |||
| Class A |
Class A | |||
| Class C |
Class C | |||
| Class R |
Class R | |||
| Class Y |
Class Y | |||
| Class R6 |
Class I | |||
| Invesco Xxxxxxxxxxx Ultra-Short Duration Fund, a series of AIM Investment Securities Funds (Invesco Investment Securities Funds) |
Xxxxxxxxxxx Ultra-Short Duration Fund | |||
| Class A |
Class A | |||
| Class Y |
Class Y | |||
| Class R6 |
Class I | |||
| AIM Variable Insurance Funds (Invesco Variable Insurance Funds) | ||||
| Invesco Oppenheimer V.I. Capital |
Oppenheimer Capital Appreciation Fund/VA, a | |||
| Appreciation Fund, a series of AIM Variable Insurance Funds (Invesco Variable Insurance Funds) |
|
series of Xxxxxxxxxxx Variable Account Funds | ||
| Series I |
Non-Service | |||
| Series II |
Service | |||
| Invesco Xxxxxxxxxxx V.I. Conservative Balanced Fund, a series of AIM Variable Insurance Funds (Invesco Variable Insurance Funds) |
Xxxxxxxxxxx Conservative Balanced Fund/VA, a series of Xxxxxxxxxxx Variable Account Funds | |||
| Series I |
Non-Service | |||
| Series II |
Service | |||
| Invesco Xxxxxxxxxxx V.I. Discovery Mid Cap Growth Fund, a series of AIM Variable Insurance Funds (Invesco Variable Insurance Funds) |
Xxxxxxxxxxx Discovery Mid Cap Growth Fund/VA, a series of Xxxxxxxxxxx Variable Account Funds | |||
| Series I |
Non-Service | |||
| Series II |
Service | |||
| Invesco Xxxxxxxxxxx V.I. Global Fund, a series of AIM Variable Insurance Funds (Invesco Variable Insurance Funds) |
Xxxxxxxxxxx Global Fund/VA, a series of Xxxxxxxxxxx Variable Account Funds | |||
| Series I |
Non-Service | |||
| Series II |
Service | |||
| Invesco Xxxxxxxxxxx V.I. Global Strategic Income Fund, a series of AIM Variable Insurance Funds (Invesco Variable Insurance Funds) |
Xxxxxxxxxxx Global Strategic Income Fund/VA a series of Xxxxxxxxxxx Variable Account Funds | |||
| Series I |
Non-Service | |||
| Series II |
Service | |||
| Invesco Xxxxxxxxxxx V.I. Government Money Fund, a series of AIM Variable Insurance Funds (Invesco Variable Insurance Funds) |
Xxxxxxxxxxx Government Money Fund/VA a series of Xxxxxxxxxxx Variable Account Funds | |||
| Series I |
Non-Service | |||
| Invesco Xxxxxxxxxxx V.I. International Growth Fund, a series of AIM Variable Insurance Funds (Invesco Variable Insurance Funds) |
Xxxxxxxxxxx International Growth Fund/VA a series of Xxxxxxxxxxx Variable Account Funds | |||
| Series I |
Non-Service | |||
| Series II |
Service | |||
| Invesco Xxxxxxxxxxx V.I. Main Street Fund®, a series of AIM Variable Insurance Funds (Invesco Variable Insurance Funds) |
Xxxxxxxxxxx Main Street Fund®/VA, a series of Xxxxxxxxxxx Variable Account Funds | |||
| Series I |
Non-Service | |||
| Series II |
Service | |||
| Invesco Xxxxxxxxxxx V.I. Main Street Small Cap Fund®, a series of AIM Variable Insurance Funds (Invesco Variable Insurance Funds) |
|
Xxxxxxxxxxx Main Street Small Cap Fund®/VA, a series of Xxxxxxxxxxx Variable Account Funds | ||
| Series I |
Non-Service | |||
| Series II |
Service | |||
| Invesco Xxxxxxxxxxx V.I. Total Return Bond Fund, a series of AIM Variable Insurance Funds (Invesco Variable Insurance Funds) |
Xxxxxxxxxxx Total Return Bond Fund/VA, a series of Xxxxxxxxxxx Variable Account Funds | |||
| Series I |
Non-Service | |||
| Series II |
Service | |||
Schedule 1.2(b)
Excluded Assets
None
Schedule 1.2(c)
Excluded Liabilities
None
Schedule 4.1(h)
Assigned Contracts
| • | Tax Administrative Services Agreement, dated December 1, 2018, by and between OFI Global Asset Management, Inc., as adviser on behalf of each of the funds listed on Schedule C attached thereto, and UMB Fund Services, Inc., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Global Custody Agreement, dated February 16, 2007, by and between OppenheimerFunds, Inc., on behalf of each investment company identified as a Customer in Exhibit A attached thereto and Xxxxx Brothers Xxxxxxxx & Co., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Administration and Fund Accounting Agreement, dated January 8, 2010, by and between the SteelPath MLP Funds Trust (fka Alerian MLP Funds Trust), Oppenheimer SteelPath Master MLP Fund, LLC, and UMB Fund Services, Inc., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Custody Agreement, dated December 27, 2011, by and between SteelPath MLP Funds Trust (fka Alerian MLP Funds Trust) and UMB Bank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Global Custody Agreement, dated August 16, 2002, by and between OppenheimerFunds, Inc., on behalf of each investment company identified as a Customer in Exhibit A attached thereto and JPMorgan Chase Bank, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Global Custodial Services Agreement, dated May 3, 2001, by and between each investment company identified on Appendix A attached thereto and Citibank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Amended and Restated Foreign Custody Manager Agreement, dated May 31, 2001, by and between each investment company identified on Appendix A attached thereto and Citibank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Custodian Agreement, dated May 13, 2002, by and between Oppenheimer Senior Floating Rate Fund and Deutsche Bank Trust Company Americas, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Loan Servicing Agreement, dated May 13, 2002, by and between Oppenheimer Senior Floating Rate Fund and Deutsche Bank Trust Company Americas, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Custodian Agreement, dated August 20, 2013, by and between Oppenheimer Senior Floating Rate Plus Fund and Deutsche Bank Trust Company Americas, including all |
| supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Loan Servicing Agreement, dated August 20, 2013, by and between Oppenheimer Senior Floating Rate Plus Fund and Deutsche Bank Trust Company Americas, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | ISDA Master Agreement, dated July 15, 2015, by and between each Xxxxxxxxxxx Fund listed on Exhibit A attached thereto and Banco Santander, S.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated July 6, 2011, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, Banco Santander, S.A., and JPMorgan Chase Bank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | ISDA Master Agreement, dated August 8, 2011, by and between each Xxxxxxxxxxx Fund listed on Exhibit A attached thereto and Bank of America, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated August 8, 2011, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, Bank of America, N.A., and Citibank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated August 8, 2011, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, Bank of America, N.A., and JPMorgan Chase Bank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated September 16, 2013, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, Bank of America, N.A., and Deutsche Bank Trust Company Americas, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | ISDA Master Agreement, dated May 15, 2014, by and between each Xxxxxxxxxxx Fund listed on Exhibit A attached thereto and Barclays Bank PLC, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated May 7, 2010, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, Barclays Bank PLC, and JPMorgan Chase Bank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated May 7, 2010, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, Barclays Bank PLC, and |
| Citibank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | ISDA Master Agreement, dated March 16, 2011, by and between each Xxxxxxxxxxx Fund listed on Annex I attached thereto and BNP Paribas, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated March 16, 2011, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, BNP Paribas, and JPMorgan Chase Bank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated March 16, 2011, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, BNP Paribas, and Citibank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | ISDA Master Agreement, dated September 29, 2015, by and between each Xxxxxxxxxxx Fund listed on Exhibit A attached thereto and Canadian Imperial Bank of Commerce, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated September 29, 2015, by and between each registered investment company or series thereof listed on Exhibit A attached thereto Canadian Imperial Bank of Commerce, and JPMorgan Chase Bank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | ISDA Master Agreement, dated August 7, 2014, by and between each Xxxxxxxxxxx Fund listed on Exhibit A attached thereto and Citibank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated May 7, 2012, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, Citibank, N.A., and JPMorgan Chase Bank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated May 7, 2012, by and between each registered investment company or series thereof listed on Exhibit A and Citibank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | ISDA Master Agreement, dated September 7, 2016, by and between each Xxxxxxxxxxx Fund listed on Exhibit A attached thereto and Citigroup Global Markets Inc., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated September 7, 2016, by and between each registered investment company or series thereof listed on Exhibit A attached thereto Citigroup Global Markets Inc., and JPMorgan Chase Bank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated September 7, 2016, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, Citigroup Global Markets Inc., and Citibank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | ISDA Master Agreement, dated December 18, 2014, by and between each Xxxxxxxxxxx Fund listed on Exhibit A attached thereto and Credit Suisse International, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated November 4, 2011, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, Credit Suisse International, and JPMorgan Chase Bank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated October 18, 2013, by and between each registered investment company or series thereof listed on Exhibit A attached thereto Credit Suisse International, and Deutsche Bank Trust Company Americas, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated November 4, 2011, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, Credit Suisse International, and Citibank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | ISDA Master Agreement, dated May 20, 2014, by and between each Xxxxxxxxxxx Fund listed on Exhibit A attached thereto and Deutsche Bank AG, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated July 20, 2011, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, Deutsche Bank AG, and JPMorgan Chase Bank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated July 20, 2011, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, Deutsche Bank AG, and Citibank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated September 30, 2013, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, Deutsche Bank AG, and Deutsche Bank Trust Company Americas, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | ISDA Master Agreement, dated May 28, 2014, by and between each Xxxxxxxxxxx Fund listed on Exhibit A attached thereto and Xxxxxxx Sachs Bank USA, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated August 25, 2009, by and between each registered investment company listed on Exhibit A attached thereto, Xxxxxxx Xxxxx Bank USA (fka Xxxxxxx Sachs Capital Markets, L.P.), and JPMorgan Chase Bank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated October 26, 2009, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, Xxxxxxx Xxxxx Bank USA (fka Xxxxxxx Sachs Capital Markets, L.P.), and Citibank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | ISDA Master Agreement, dated April 3, 2014, by and between each Xxxxxxxxxxx Fund listed on Exhibit A attached thereto and Xxxxxxx Sachs International, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated August 25, 2009, by and between each registered investment company listed on Exhibit A attached thereto, Xxxxxxx Xxxxx International, and JPMorgan Chase Bank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated October 26, 2009, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, Xxxxxxx Xxxxx International, and Citibank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | ISDA Master Agreement, dated February 1, 2011, by and between each Xxxxxxxxxxx Fund listed on Exhibit A attached thereto and HSBC Bank USA, National Association, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated February 1, 2011, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, HSBC Bank USA, National Association, and JPMorgan Chase Bank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | ISDA Master Agreement, dated September 9, 2011, by and between each Xxxxxxxxxxx Fund listed on Exhibit A attached thereto and JPMorgan Chase Bank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated September 9, 2011, by and between each registered investment company or series thereof listed on Exhibit A attached thereto and JPMorgan Chase Bank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated September 9, 2011, by and between each registered investment company or series thereof listed on Exhibit A attached thereto JPMorgan Chase Bank, N.A., and Citibank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated November 8, 2013, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, JPMorgan Chase Bank, N.A., and Deutsche Bank Trust Company Americas, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | ISDA Master Agreement, dated May 1, 2019, by and between each Xxxxxxxxxxx Fund listed on Exhibit A attached thereto and Mizuho Capital Markets LLC, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated May 1, 2019, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, JPMorgan Chase Bank, N.A., and Mizuho Capital Markets LLC, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | ISDA Master Agreement, dated January 15, 2015, by and between each Xxxxxxxxxxx Fund listed on Exhibit A attached thereto and Xxxxxx Xxxxxxx Capital Services LLC, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated May 19, 2010, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, Xxxxxx Xxxxxxx Capital Services LLC (fka Xxxxxx Xxxxxxx Capital Services Inc.), and JPMorgan Chase Bank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated May 7, 2010, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, Xxxxxx Xxxxxxx Capital Services LLC (fka Xxxxxx Xxxxxxx Capital Services Inc.), and Citibank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | ISDA Master Agreement, dated May 4, 2018, by and between each entity listed Exhibit A attached thereto and Xxxxxx Xxxxxxx Capital Services LLC, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated May 4, 2018, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, Xxxxxx Xxxxxxx Capital Services LLC, and UMB Bank, n.a., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | ISDA Master Agreement, dated April 2, 2019, by and between each Xxxxxxxxxxx Fund listed on Exhibit A attached thereto and Xxxxxx Xxxxxxx & Co. International PLC, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated April 2, 2019, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, Xxxxxx Xxxxxxx & Co. International PLC, and JPMorgan Chase Bank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | ISDA Master Agreement, dated October 4, 2012, by and between each Xxxxxxxxxxx Fund listed on Exhibit A attached thereto and Nomura Global Financial Products Inc., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Guarantee, dated October 17, 2012, by and between each Xxxxxxxxxxx Fund listed on Exhibit A to the Agreement, Nomura Global Financial Products, Inc., and Nomura Holdings, Inc., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated October 4, 2012, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, Nomura Global Financial Products Inc., and JPMorgan Chase Bank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated October 4, 2012, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, Nomura Global Financial Products Inc., and Citibank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | ISDA Master Agreement, dated December 3, 2018, by and between each Xxxxxxxxxxx Fund listed on Exhibit A attached thereto and Royal Bank of Canada, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated December 3, 2018, by and between each registered investment company or series thereof listed on Exhibit A thereto, Royal Bank of Canada, and JPMorgan Chase Bank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | ISDA Master Agreement, dated January 27, 2012, by and between each Xxxxxxxxxxx Fund listed on Exhibit A attached thereto and NATWEST MARKETS PLC (fka The Royal Bank of Scotland plc), including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated January 27, 2012, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, NATWEST MARKETS PLC (fka The Royal Bank of Scotland plc), and JPMorgan Chase Bank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated January 27, 2012, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, NATWEST MARKETS PLC (fka The Royal Bank of Scotland plc), and Citibank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | ISDA Master Agreement, dated July 29, 2015, by and between each Xxxxxxxxxxx Fund listed on Exhibit A attached thereto and Société Générale, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated July 29, 2015, by and between each registered investment company or series thereof on Exhibit A attached thereto, Société Générale, and JPMorgan Chase Bank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | ISDA Master Agreement, dated August 30, 2011, by and between each Xxxxxxxxxxx Fund listed on Exhibit A attached thereto and Standard Chartered Bank, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated August 30, 2011, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, Standard Chartered Bank, and JPMorgan Chase Bank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated August 30, 2011, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, Standard Chartered Bank, and Citibank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | ISDA Master Agreement, dated January 6, 2014, by and between each Xxxxxxxxxxx Fund listed on Exhibit A attached thereto and The Toronto-Dominion Bank, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated January 6, 2014, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, The Toronto-Dominion Bank, and JPMorgan Chase Bank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | ISDA Master Agreement, dated November 15, 2017, by and between each Xxxxxxxxxxx Fund listed on Exhibit A attached thereto and UBS AG, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated May 25, 2012, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, UBS AG, and JPMorgan Chase Bank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated May 25, 2012, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, UBS AG, and Citibank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Master Securities Forward Transaction Agreement, dated September 30, 2014, by and between each of the entities located on Annex III.A to the Agreement, and Barclays Capital Inc., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated September 30, 2014, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, Barclays Capital Inc., |
| and JPMorgan Chase Bank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated September 30, 2014, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, Barclays Capital Inc., and Citibank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Master Securities Forward Transaction Agreement, dated February 24, 2014, by and between each of the entities located on Annex III.A to the Agreement, and BNP Paribas Securities Corp., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated February 24, 2014, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, BNP Paribas Securities Corp., and JPMorgan Chase Bank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated February 24, 2014, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, BNP Paribas Securities Corp., and Citibank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Master Securities Forward Transaction Agreement, dated July 25, 2014, by and between each of the entities located on Annex III.A to the Agreement, and Citigroup Global Markets Inc., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated July 25, 2014, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, Citigroup Global Markets Inc., and JPMorgan Chase Bank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated July 25, 2014, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, Citigroup Global Markets Inc., and Citibank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Master Securities Forward Transaction Agreement, dated December 20, 2013, by and between each of the entities located on Annex III.A to the Agreement, and Credit Suisse Securities (USA) LLC, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated December 20, 2013, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, Credit Suisse Securities (USA) LLC, and JPMorgan Chase Bank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated December 20, 2013, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, Credit Suisse |
| Securities (USA) LLC, and Citibank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Master Securities Forward Transaction Agreement, dated August 3, 2018, by and between each of the entities located on Annex III.A to the Agreement, and Credit Suisse AG, acting through its New York Branch, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated August 3, 2018, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, Credit Suisse AG, and JPMorgan Chase Bank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated August 3, 2018, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, Credit Suisse AG, and Citibank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Master Securities Forward Transaction Agreement, dated April 7, 2014, by and between each of the entities located on Annex III.A to the Agreement, and X.X. Xxxxxx Securities LLC, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated April 7, 2014, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, X.X. Xxxxxx Securities LLC, and JPMorgan Chase Bank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated April 7, 2014, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, X.X. Xxxxxx Securities LLC, and Citibank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Master Securities Forward Transaction Agreement, dated May 7, 2014, by and between each of the entities located on Annex III.A to the Agreement, and BofA Securities, Inc. (fka Xxxxxxx Lynch, Pierce, Xxxxxx & Xxxxx Incorporated), including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated May 13, 2019, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, BofA Securities, Inc. (fka Xxxxxxx Lynch, Pierce, Xxxxxx & Xxxxx Incorporated), and JPMorgan Chase Bank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated May 13, 2019, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, BofA Securities, Inc. (fka Xxxxxxx Lynch, Pierce, Xxxxxx & Xxxxx Incorporated), and Citibank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Master Securities Forward Transaction Agreement, dated February 13, 2018, by and between each of the entities located on Exhibit A to the Agreement, and Mizuho Securities USA LLC, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated February 13, 2018, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, Mizuho Securities LLC, and JPMorgan Chase Bank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated February 13, 2018, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, Mizuho Securities USA LLC, and Citibank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Master Securities Forward Transaction Agreement, dated October 23, 2017, by and between each of the entities located on Exhibit A to the Agreement and Xxxxxx Xxxxxxx & Co. LLC., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated October 23, 2017, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, Xxxxxx Xxxxxxx & Co. LLC, and JPMorgan Chase Bank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated October 23, 2017, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, Xxxxxx Xxxxxxx & Co. LLC, and Citibank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Master Securities Forward Transaction Agreement, dated March 4, 2014, by and between each of the entities located on Annex III.A to the Agreement and Nomura Securities International, Inc., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated March 4, 2014 by and between each registered investment company or series thereof listed on Exhibit A attached thereto, Nomura Securities International, Inc., and JPMorgan Chase Bank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Control Agreement, dated March 4, 2014, by and between each registered investment company or series thereof listed on Exhibit A attached thereto, Nomura Securities International, Inc., and Citibank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Master Repurchase Agreement, dated May 25, 2018, by and between each Fund identified on Schedule VII.A to the Agreement and Amherst Xxxxxxxx Securities, LLC., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Subcustodial Undertaking in Connection with Master Repurchase Agreement, dated November 9, 2018, by and between each mutual fund and/or portfolio series of each mutual fund identified on Appendix A to the Subcustodial Agency Annex thereto, Amherst Xxxxxxxx Securities LLC, Citibank, N.A., and The Bank of New York Mellon, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Subcustodial Undertaking in Connection with Master Repurchase Agreement, dated November 9, 2018, by and between each mutual fund and/or portfolio series of each mutual fund identified on Appendix A to the Subcustodial Agency Annex thereto, Amherst Xxxxxxxx Securities LLC, JPMorgan Chase Bank, and The Bank of New York Mellon, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Master Repurchase Agreement, dated September 14, 2018, by and between each Fund identified on Schedule VII.A to the Agreement and ASL Capital Markets Inc., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Subcustodial Undertaking in Connection with Master Repurchase Agreement, dated September 14, 2018, by and between each mutual fund and/or portfolio series of each mutual fund identified on Appendix A to the Subcustodial Agency Annex thereto, ASL Capital Markets Inc., Citibank, N.A., and The Bank of New York Mellon, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Subcustodial Undertaking in Connection with Master Repurchase Agreement, dated September 14, 2018, by and between each mutual fund and/or portfolio series of each mutual fund identified on Appendix A to the Subcustodial Agency Annex thereto, ASL Capital Markets Inc., JPMorgan Chase Bank, and The Bank of New York Mellon, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Master Repurchase Agreement, dated September 14, 2018, by and between each Fund identified on Schedule VII.A to the Agreement and CF Secured, LLC, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Subcustodial Undertaking in Connection with Master Repurchase Agreement, dated September 14, 2018, by and between each mutual fund and/or portfolio series of each mutual fund identified on Appendix A to the Subcustodial Agency Annex thereto, CF Secured, LLC, Citibank, N.A., and The Bank of New York Mellon, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Subcustodial Undertaking in Connection with Master Repurchase Agreement, dated September 14, 2016, by and between each mutual fund and/or portfolio series of each mutual fund identified on Appendix A to the Subcustodial Agency Annex thereto, CF Secured, LLC, JPMorgan Chase Bank, and The Bank of New York Mellon, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Master Repurchase Agreement, dated September 14, 2016, by and between each Fund identified on Schedule VII.A to the Agreement and Credit Agricole Corporate and Investment Bank, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Subcustodial Undertaking in Connection with Master Repurchase Agreement, dated September 14, 2016, by and between each mutual fund and/or portfolio series of each mutual fund identified on Appendix A to the Subcustodial Agency Annex thereto, Credit Agricole Corporate and Investment Bank, Citibank, N.A., and The Bank of New York Mellon, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Subcustodial Undertaking in Connection with Master Repurchase Agreement, dated September 14, 2016, by and between each mutual fund and/or portfolio series of each mutual fund identified on Appendix A to the Subcustodial Agency Annex thereto, Credit Agricole Corporate and Investment Bank, JPMorgan Chase Bank, and The Bank of New York Mellon, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Master Repurchase Agreement, dated March 31, 2016, by and between each Fund identified on Schedule VII.A to the Agreement and Credit Suisse Securities (USA) LLC, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Subcustodial Undertaking in Connection with Master Repurchase Agreement, dated April 22, 2016, by and between Xxxxxxxxxxx Fund listed on Schedule 4 attached thereto, Credit Suisse Securities (USA) LLC, and JPMorgan Chase Bank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Subcustodial Undertaking in Connection with Master Repurchase Agreement, dated April 22, 2016, by and between Xxxxxxxxxxx Fund listed on Schedule 4 attached thereto, Credit Suisse Securities (USA) LLC, JPMorgan Chase Bank, N.A., and Citibank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Master Repurchase Agreement, dated March 1, 2017, by and between each Fund identified on Schedule VII.A to the Agreement and INTL FCStone Financial Inc., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Subcustodial Undertaking in Connection with Master Repurchase Agreement, dated March 1, 2017, by and between Xxxxxxxxxxx Fund listed on Schedule 4 attached thereto, INTL FCStone Financial Inc., and JPMorgan Chase Bank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Subcustodial Undertaking in Connection with Master Repurchase Agreement, dated March 1, 2017, by and between Xxxxxxxxxxx Fund listed on Schedule 4 attached thereto, INTL FCStone Financial Inc., JPMorgan Chase Bank, N.A., and Citibank, N.A., including all |
| supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Master Repurchase Agreement, dated December 18, 2017, by and between each Fund identified on Schedule VII.A to the Agreement and Federal Reserve Bank of New York, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Subcustodial Undertaking in Connection with Master Repurchase Agreement, dated December 18, 2017, by and between each mutual fund and/or portfolio series of each mutual fund identified on Appendix A to the Subcustodial Agency Annex thereto, Federal Reserve Bank of New York, Citibank, N.A., and The Bank of New York Mellon, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Master Repurchase Agreement, dated November 2, 2018, by and between each Fund identified on Schedule VII.A to the Agreement and Guggenheim Securities, LLC, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Subcustodial Undertaking in Connection with Master Repurchase Agreement, dated November 2, 2018, by and between each mutual fund and/or portfolio series of each mutual fund identified on Appendix A to the Subcustodial Agency Annex thereto, Guggenheim Securities, LLC, Citibank, N.A., and The Bank of New York Mellon, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Subcustodial Undertaking in Connection with Master Repurchase Agreement, dated November 2, 2018, by and between each mutual fund and/or portfolio series of each mutual fund identified on Appendix A to the Subcustodial Agency Annex thereto, Guggenheim Securities, LLC, JPMorgan Chase Bank, and The Bank of New York Mellon, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Master Repurchase Agreement, dated December 19, 2017, by and between each Fund identified on Schedule VII.A to the Agreement and Royal Bank of Canada, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Subcustodial Undertaking in Connection with Master Repurchase Agreement, dated December 19, 2017, by and between each mutual fund and/or portfolio series of each mutual fund identified on Appendix A to the Subcustodial Agency Annex thereto, Royal Bank of Canada, Citibank, N.A., and The Bank of New York Mellon, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Subcustodial Undertaking in Connection with Master Repurchase Agreement, dated December 19, 2017, by and between each mutual fund and/or portfolio series of each mutual fund identified on Appendix A to the Subcustodial Agency Annex thereto, Royal Bank of Canada, JPMorgan Chase Bank, and The Bank of New York Mellon, including all supplements, |
| schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Master Repurchase Agreement, dated August 31, 2016, by and between each Fund identified on Schedule VII.A to the Agreement and RBC Capital Markets, LLC, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Subcustodial Undertaking in Connection with Master Repurchase Agreement, dated August 31, 2016, by and between each mutual fund and/or portfolio series of each mutual fund identified on Appendix A to the Subcustodial Agency Annex thereto, RBC Capital Markets, LLC, Citibank, N.A., and The Bank of New York Mellon, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Subcustodial Undertaking in Connection with Master Repurchase Agreement, dated August 31, 2016, by and between each mutual fund and/or portfolio series of each mutual fund identified on Appendix A to the Subcustodial Agency Annex thereto, RBC Capital Markets, LLC, JPMorgan Chase Bank, and The Bank of New York Mellon, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Master Repurchase Agreement, dated September 16, 2016, by and between each Fund identified on Schedule VII.A to the Agreement and RBC Dominion Securities Inc., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Subcustodial Undertaking in Connection with Master Repurchase Agreement, dated September 16, 2016, by and between each mutual fund and/or portfolio series of each mutual fund identified on Appendix A to the Subcustodial Agency Annex thereto, RBC Dominion Securities Inc., Citibank, N.A., and The Bank of New York Mellon, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Subcustodial Undertaking in Connection with Master Repurchase Agreement, dated September 16, 2016, by and between each mutual fund and/or portfolio series of each mutual fund identified on Appendix A to the Subcustodial Agency Annex thereto, RBC Dominion Securities Inc., JPMorgan Chase Bank, and The Bank of New York Mellon, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Master Repurchase Agreement, dated September 23, 2016, by and between each Fund identified on Schedule VII.A to the Agreement and RBC Europe Limited, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Subcustodial Undertaking in Connection with Master Repurchase Agreement, dated September 23, 2016, by and between each mutual fund and/or portfolio series of each mutual fund identified on Appendix A to the Subcustodial Agency Annex thereto, RBC Europe Limited, Citibank, N.A., and The Bank of New York Mellon, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Subcustodial Undertaking in Connection with Master Repurchase Agreement, dated September 23, 2016, by and between each mutual fund and/or portfolio series of each mutual fund identified on Appendix A to the Subcustodial Agency Annex thereto, RBC Europe Limited, JPMorgan Chase Bank, and The Bank of New York Mellon, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Master Repurchase Agreement, dated April 1, 2016, by and between each Fund identified on Schedule VII.A to the Agreement and South Street Securities LLC, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Subcustodial Undertaking in Connection with Master Repurchase Agreement, dated May 2, 2016, by and between each mutual fund and/or portfolio series of each mutual fund identified on Appendix A to the Subcustodial Agency Annex thereto, South Street Securities LLC, Citibank, N.A., and The Bank of New York Mellon, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Subcustodial Undertaking in Connection with Master Repurchase Agreement, dated March 30, 2016, by and between each mutual fund and/or portfolio series of each mutual fund identified on Appendix A to the Subcustodial Agency Annex thereto, South Street Securities LLC, JPMorgan Chase Bank, and The Bank of New York Mellon, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Master Repurchase Agreement, dated April 1, 2016, by and between each Fund identified on Schedule VII.A to the Agreement and TD Securities (USA) LLC, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Subcustodial Undertaking in Connection with Master Repurchase Agreement, dated April 1, 2016, by and between each mutual fund and/or portfolio series of each mutual fund identified on Appendix A to the Subcustodial Agency Annex thereto, TD Securities (USA) LLC, Citibank, N.A., and The Bank of New York Mellon, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Subcustodial Undertaking in Connection with Master Repurchase Agreement, dated April 1, 2016, by and between each mutual fund and/or portfolio series of each mutual fund identified on Appendix A to the Subcustodial Agency Annex thereto, TD Securities (USA) LLC, JPMorgan Chase Bank, and The Bank of New York Mellon, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Customer Options Agreement, dated April 4, 2016, by and between each of the entities listed on Appendix A attached thereto and UBS Securities LLC, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Special Custody Account Agreement, dated April 4, 2016, by and between each of the entities listed on Schedule I thereto UBS Securities LLC, and JPMorgan Chase Bank, N.A., |
| including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Special Custody Account Agreement, dated May 2, 2016, by and between each of the entities listed on Schedule I thereto UBS Securities LLC and Citibank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Customer Options Agreement, dated May 24, 2017, by and between each of the entities listed on Appendix A attached thereto and UBS Securities LLC, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Customer Options Agreement, dated May 2, 2016, by and between each of the entities listed on Appendix A attached thereto and UBS Securities LLC, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Special Custody Account Agreement, dated May 2, 2016, by and between each of the entities listed on Schedule I thereto, UBS Securities LLC, and JPMorgan Chase Bank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Institutional Listed Options Agreement and Related Documents Package, dated July 17, 2017, by and between the clients listed on Appendix A attached thereto and Xxxxxx Xxxxxxx & Co, LLC., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Special Custody Account Agreement, dated July 17, 2017, by and between each of the entities listed on Schedule I thereto, Xxxxxx Xxxxxxx & Co. LLC, and JPMorgan Chase Bank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Amended and Restated Client Agreement, dated January 10, 2018, by and between each entity listed on Annex I thereto and X.X. Xxxxxx Securities LLC, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Institutional Futures Account Agreement, dated September 18, 2017, by and between each entity identified on Exhibit A to thereto and Citigroup Global Markets Inc., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Amended and Restated Institutional Master Futures Client Account Agreement, dated October 2, 2017, by and between the clients listed on the Schedule A attached thereto and BofA Securities, Inc. (fka Xxxxxxx Lynch, Pierce, Xxxxxx & Xxxxx Incorporated), including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Prime Brokerage – Institutional Client Account Agreement, dated July 17, 2017, by and between Xxxxxxxxxxx Quest for Value Funds, on behalf of its series Xxxxxxxxxxx Fundamental |
| Alternatives Fund, Citigroup Global Markets Inc., and Citibank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Pledge and Control Agreement, dated June 30, 2014, by and between the investment companies listed on Schedule I attached thereto, Citigroup Global Markets Inc., and JPMorgan Chase Bank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Amended & Restated Institutional Account Agreement, dated July 17, 2017, by and between Xxxxxxxxxxx Quest for Value Funds, on behalf of its series Xxxxxxxxxxx Fundamental Alternatives Fund, X.X. Xxxxxx Securities LLC, and JPMorgan Chase Bank, N.A., including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
| • | Special Custody Agreement, dated July 17, 2017, by and between Xxxxxxxxxxx Quest for Value Funds, on behalf of its series Xxxxxxxxxxx Fundamental Alternatives Fund, JPMorgan Chase Bank, N.A. and X.X. Xxxxxx Securities LLC, including all supplements, schedules, and exhibits thereto, all as amended or otherwise modified in accordance with the terms thereof. |
Schedule 4.1(i)
Target Fund/Target Entity Litigation, Administrative Proceedings and Investigations
None
Schedule 4.1(q)
Target Fund consolidated, combined or unitary state Tax Returns
None
Schedule 4.2(f)
Acquiring Fund Litigation, Administrative Proceedings and Investigations
None
Schedule 5.1(f)
Target Fund Statements, Books and Records
(Note) Since many records are maintained by service providers, this information is to the best of our knowledge and belief and also reflects our expectations of their fulfilment of the services for which they are engaged.
| Type of Statements, Books or Records |
Location MF |
Method of Access MF | ||
| Shareholder ledger accounts including, without limitation: | ||||
| • the name, address and taxpayer identification number of each shareholder of record, |
||||
| • the number of shares of beneficial interest held by each shareholder, |
||||
| • the dividend reinvestment elections applicable to each shareholder, and |
||||
| • the backup withholding and nonresident alien withholding certifications |
TA2000 (Server AMV) | TA2000 (Server AMV) | ||
| Information in connection with the Target Fund’s cost basis reporting and related obligations under Sections 1012, 6045, 6045A, and 6045B of the Code and related regulations issued by the United States Treasury (“Income Tax Regulations”) | TA2000 (Server AMV) | TA2000 (Server AMV) | ||
| Notices or records on file with the Target Fund with respect to each shareholder, for all of the shareholders of record of the Target Fund as of the close of business on the Closing Date, who are to become holders of the Acquiring Fund as a result of the transfer of Assets | TA2000 (Server AMV) | TA2000 (Server AMV) | ||
| Year-end shareholder tax reporting information including ICI broker files, Tax insert letters, and supporting calculations for the Target Fund | OFI internal transfer agent record Supporting calculations housed with Third Party Administrators: BBH and UMB |
OFI internal transfer agent record: 2014 to current have been provided to IVZ Supporting calculations housed with Third Party Administrators: BBH and UMB: by request | ||
| All IRS Forms 8937 (Report of Organizational Actions Affecting Basis of Securities) filed or posted by the Target Fund | OFI internal transfer agent records and xxxxxxxxxxxxxxxx.xxx website |
Internal DMS Access Here | ||
| Statement of the respective Tax(1) basis (by lot) and holding period as of the most recent Tax year end of the Target Fund of all portfolio securities to be transferred by the Target Fund to the Acquiring Fund | Third Party Administrators: BBH and UMB |
BBH and UMB: by request | ||
| Tax books and records of the Target Fund for purposes of preparing any Tax returns required by law to be filed for Tax periods ending on or after the Closing Date(2) | Third Party Administrators: BBH and UMB * |
BBH and UMB: by request * | ||
| A statement of any capital loss carryovers, for U.S. federal income tax purposes, of the Target Fund, as of the most recent Tax year end of the Target Fund, along with supporting workpapers providing information regarding any limitations on the use of such capital loss carryovers including information on any built-in gains and built-in losses of the Target Fund for purposes of applying applicable limitations on the use of such items under the Code | Third Party Administrators: BBH and UMB * |
BBH and UMB: by request * | ||
| All Tax Returns filed by or on behalf of the Target Fund (including extensions) | Third Party Administrators: BBH and UMB * |
BBH and UMB: by request * | ||
| Any of the following that have been issued to or for the benefit of the Target Fund: (a) rulings, determinations, holdings or opinions issued by any Tax authority and (b) Tax opinions | OFI interal records | Request of OFI Tax | ||
| All books and records related to testing the qualification of the Target Fund, excluding the C Corporation Target Fund, as a regulated investment company for Tax purposes (e.g., distribution requirement, qualifying income requirement, quarterly asset diversification requirement) | Third Party Administrators: BBH; N/A for UMB |
BBH - by request | ||
| All books and records relating to the filing of FBARs (FinCEN Form 114, Report of Foreign Bank and Financial Accounts) by the Target Fund | Third Party Administrators: BBH: N/A for UMB * |
BBH: by request * | ||
| Current and historical books and records of the Target Fund to comply with regulatory requirements imposed under the 1940 Act, including, without limitation, Section 31(a) of the 1940 Act and the rules thereunder, for all periods including, but not limited to, up to and including the Closing Date | Third Party Administrators: BBH and UMB |
BBH: WorldView and by request
UMB by request | ||
| * | OFI Internal records are located on the I drive and Investment Tax sharepoint site. Records should duplicate those maintained by Third Party Administrators. Such records will be available to IVZ tax personnel after closing. |
| Transfer Agent |
| Investment Tax |
| Fund Treasury |
| (1) | For the avoidance of doubt, the terms “Tax” or “Taxes” and “Tax Return” as used in this Schedule 5.1(f) shall be as set forth in Section 4.1(l) of this Agreement. |
| (2) | For the avoidance of doubt, such Tax books and records shall include, but not be limited to, a statement of the current earnings and profits of the Target Fund for U.S. federal income tax purposes, a statement of the items that the Acquiring Fund will succeed to and take into account as a result of Section 381 of the Code and the current and historical books and records of the Target Fund to comply with regulatory requirements imposed under the Code and the Income Tax Regulations for all periods including, but not limited to, up to and including the Closing Date. The parties acknowledge and agree that such information for the taxable year that includes the Closing Date may not be determined or finalized until after the Closing Date, and the parties will cooperate in connection with finalizing such information. |
Schedule 8.6
Tax Opinions
With respect to each Reorganization:
(i) The acquisition by the Acquiring Fund of all of the Assets of the Target Fund, as provided for in the Agreement, in exchange for Acquiring Fund shares and the assumption by the Acquiring Fund of the Liabilities of the Target Fund, followed by the distribution by the Target Fund to its shareholders of the Acquiring Fund shares in complete liquidation of the Target Fund, will qualify as a reorganization within the meaning of Section 368(a)(1) of the Code, and the Target Fund and the Acquiring Fund each will be a “party to the reorganization” within the meaning of Section 368(b) of the Code.
(ii) No gain or loss will be recognized by the Target Fund upon the transfer of all of its Assets to the Acquiring Fund in exchange solely for Acquiring Fund shares and the assumption by the Acquiring Fund of the Liabilities of the Target Fund, pursuant to Section 361(a) and Section 357(a) of the Code.
(iii) No gain or loss will be recognized by the Acquiring Fund upon the receipt by it of all of the Assets of the Target Fund in exchange solely for the assumption of the Liabilities of the Target Fund and issuance of the Acquiring Fund shares pursuant to Section 1032(a) of the Code.
(iv) No gain or loss will be recognized by the Target Fund upon the distribution of the Acquiring Fund shares by the Target Fund to its shareholders in complete liquidation (in pursuance of the Agreement) pursuant to Section 361(c)(1) of the Code.
(v) The tax basis of the Assets of the Target Fund received by the Acquiring Fund will be the same as the tax basis of such Assets in the hands of the Target Fund immediately prior to the transfer pursuant to Section 362(b) of the Code.
(vi) The holding periods of the Assets of the Target Fund in the hands of the Acquiring Fund will include the periods during which such Assets were held by the Target Fund pursuant to Section 1223(2) of the Code.
(vii) No gain or loss will be recognized by the shareholders of the Target Fund upon the exchange of all of their Target Fund shares for the Acquiring Fund shares pursuant to Section 354(a) of the Code.
(viii) The aggregate tax basis of the Acquiring Fund shares to be received by each shareholder of the Target Fund will be the same as the aggregate tax basis of Target Fund shares exchanged therefor pursuant to Section 358(a)(1) of the Code.
(ix) The holding period of Acquiring Fund shares received by a shareholder of the Target Fund will include the holding period of the Target Fund shares exchanged therefor, provided that the shareholder held Target Fund shares as a capital asset on the date of the exchange pursuant to Section 1223(1) of the Code.
(x) For purposes of Section 381 of the Code, the Acquiring Fund will succeed to and take into account, as of the date of the transfer as defined in Section 1.381(b)-1(b) of the Income Tax Regulations, the items of Target Fund described in Section 381(c) of the Code as if there had been no Reorganization, subject to the conditions and limitations specified in Sections 381, 382, 383 and 384 of the Code and, if applicable, the Income Tax Regulations promulgated thereunder.
This opinion does not address the tax consequences of the Reorganization to contracts or securities on which gain or loss is recognized upon the transfer of an asset regardless of whether such transfer would otherwise be a nonrecognition transaction under the Code.
