EXHIBIT (l)
PURCHASE AGREEMENT
The Gabelli Westwood Funds (the "Trust"), a Massachusetts business trust,
and Gabelli & Company, Inc. (the "Buyer") hereby agree as follows:
1. The Trust hereby offers the Buyer and the Buyer hereby purchases 1
share of each of the Class A shares of the Gabelli Westwood SmallCap Equity
Fund, the Gabelli Westwood Mighty Mites Fund and the Gabelli Westwood Realty
Fund and Class B shares and Class C shares of each of the funds (each a "Fund")
of the Trust (the "Shares") at the net asset value per share of the Class AAA
shares on the date hereof. The Shares are the "initial shares" of each such
class. The Buyer hereby acknowledges receipt of a purchase confirmation
reflecting the purchase of the Shares, and the Trust hereby acknowledges receipt
from the Buyer of funds as full payment for the Shares.
2. The Buyer represents and warrants to the Trust that the Shares
purchased by the Buyer are being acquired for investment purposes and not for
the purpose of distribution.
3. The Trust represents that a copy of its Agreement and Declaration of
Trust, dated June 12, 1986, is on file in the Office of the Secretary of the
Commonwealth of Massachusetts.
4. This Agreement has been executed on behalf of the Trust by the
undersigned officer of the Fund in his or her capacity as an officer of the
Trust.
5. This Agreement may be executed in counterparts, each of which shall
be deemed to be an original, but such counterparts shall, together, constitute
only one instrument.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as
of the 26th day of January, 2000.
Attest: THE GABELLI WESTWOOD FUNDS
/s/ Xxxxxxxx Xxxxxxxx By: /s/ Xxxxx XxXxx
Secretary
Attest: GABELLI & COMPANY, INC.
/s/ Xxxxxxxx Xxxxxxxx By: /s/ Xxxxx Xxxxxx
Vice President and Treasurer
