Common use of Due Organization of Purisima Clause in Contracts

Due Organization of Purisima. Purisima was duly created pursuant to its Agreement and Declaration of Trust by the Trustees for the purpose of acting as a management investment company under the Investment Company Act of 1940 (the “1940 Act”) and is validly existing under the laws of the State of Delaware, and the Declaration of Trust directs the Trustees to manage the affairs of Purisima and grants them all powers necessary or desirable to carry out such responsibility, including administering Purisima ’s business as currently conducted by Purisima and as described in the current prospectuses of Purisima. Purisima is registered as an investment company classified as an open-end management company, under the 1940 Act and its registration with the SEC as an investment company is in full force and effect.

Due Organization of Purisima. Purisima was duly created pursuant to its Agreement and Declaration of Trust by the Trustees for the purpose of acting as a management investment company under the Investment Company 1940 Act of 1940 (the “1940 Act”) and is validly existing under the laws of the State of Delaware, and the Agreement and Declaration of Trust directs the Trustees to manage the affairs of Purisima and grants them all powers necessary or desirable to carry out such responsibility, including administering Purisima Purisima’s business as currently conducted by Purisima and as described in the current prospectuses of Purisima. Purisima is registered as an investment company classified as an open-end management company, under the 1940 Act and its registration with the SEC as an investment company is in full force and effect.