Exhibit L
Alliance Capital Management
0000 Xxxxxx xx xxx Xxxxxxxx
00xx Xxxxx
Xxx Xxxx, XX 00000
INITIAL CAPITAL AGREEMENT
February 16, 2001
AllianceBernstein Trust
c/o Alliance Capital Management
0000 Xxxxxx xx xxx Xxxxxxxx
00xx Xxxxx
Xxx Xxxx, XX 00000
Dear Sirs:
It is our understanding that AllianceBernstein Trust (the "Trust")
proposes to sell shares of beneficial interest (the "Shares") of the various
investment portfolios (the "Portfolios") of the Trust pursuant to a registration
statement on From N-1A filed with the Securities and Exchange Commission. In
order to provide the Trust with a net worth of at least $100,000 as required by
Section 14 of the Investment Company Act of 1940, as amended, we hereby offer to
purchase 2,480 Class A, 10 Class B and 10 Class C Shares of each Fund (viz. the
AllianceBernstein Value Fund, the AllianceBernstein Small Cap Value Fund, the
AllianceBernstein Global Value Fund, and the AllianceBernstein International
Value Fund), in each case for $10 per Share.
We represent and warrant to the Trust that the Shares are being acquired
by us for investment and not with a view to the resale or further distribution
thereof and that we have no present intention to redeem or dispose of any
Shares. We hereby agree that any redemption of these Shares will be reduced by a
pro rata portion of any then unamortized organization expenses of the Trust.
This proration will be calculated by dividing the number of Shares to be
redeemed by the aggregate number of Shares held which represent the Initial
Capital of the Trust.
Please confirm that the foregoing correctly sets forth our agreement with
the Trust.
Very truly yours,
Alliance Capital Management L.P.
By: /s/ Xxxxxx X. Xxxxxx, Xx.
Confirmed, as of the date
first above mentioned
AllianceBernstein Trust:
By: /s/ Xxxxxx X. Xxxxxx, Xx.
A copy of the Agreement and Declaration of Trust of the Trust is on file
with the Secretary of State of The Commonwealth of Massachusetts, and notice is
hereby given that this instrument is executed on behalf of the Trustees as
Trustees and not individually and that the obligations of this instrument are
not binding upon any of the Trustees or shareholders individually but are
binding only upon the assets and property of the relevant Portfolio.
