Liabilities of the Acquired Fund. The Acquired Fund will use commercially reasonable efforts to discharge its known liabilities and obligations prior to the Effective Time, other than liabilities and obligations necessary or appropriate for the Acquired Fund’s normal investment operations that are incurred in the ordinary course of business consistent with past practice. The Acquiring Fund shall assume all liabilities, obligations and debts of the Acquired Fund, whether known or unknown, absolute or contingent, accrued or unaccrued, existing at the Effective Time (collectively, the “Liabilities”).
Liabilities of the Acquired Fund. The liabilities of the Acquired Fund that are to be assumed by the Acquiring Fund in connection with the Reorganization, or to which the assets of the Acquired Fund to be transferred in the Reorganization are subject, were incurred by the Acquired Fund in the ordinary course of its business. The fair market value of the assets of the Acquired Fund to be transferred to the Acquiring Fund in the Reorganization will equal or exceed the sum of the liabilities to be assumed by the Acquiring Fund plus the amount of liabilities, if any, to which such transferred assets will be subject.
Liabilities of the Acquired Fund. The Acquired Fund will use commercially reasonable efforts to discharge all of its known liabilities and obligations prior to the Effective Time consistent with its obligation to continue its operations and to pursue its investment objective and strategies in accordance with the terms of its prospectus or as presented in the Proxy Statement/Prospectus (as defined in paragraph 5.6) in connection with the Reorganization. The Acquiring Fund will assume all or substantially all liabilities of the Acquired Fund whether accrued or contingent, known or unknown (collectively, the “Liabilities”). At and after the Effective Time, the Liabilities of the Acquired Fund shall become and be the liabilities of the Acquiring Fund and may be enforced against the Acquiring Fund to the extent as if the same had been incurred by the Acquiring Fund.
Liabilities of the Acquired Fund. The Acquired Fund will use its best efforts to discharge all of its known liabilities and obligations prior to the Effective Time. The Acquiring Fund shall assume the liabilities of the Acquired Fund that are set forth on the Acquired Fund's Statement of Assets and Liabilities as of the Effective Time that is delivered pursuant to paragraph 6.2(b) and included in the calculation of net asset value ("NAV") as of the Effective Time, or incurred in the ordinary course of business consistent with past practice (collectively, the "LIABILITIES"). On or as soon as practicable prior to the Effective Time, the Acquired Fund will declare and pay to its shareholders of record one or more dividends and/or other distributions, which, together with all previous dividends, will have the effect of distributing to the Acquired Fund Shareholders (as defined in paragraph 1.4) substantially all (and in no event less than 98%) of the Acquired Fund's previously undistributed investment company taxable income, if any (computed without regard to any deduction for dividends paid), and net exempt-interest income, if any, if any, for all taxable years (including the current taxable year) ending on or prior to the Effective Time, together with all of the Acquired Fund's previously undistributed net capital gains, if any, through October 31, 2007.
Liabilities of the Acquired Fund. The liabilities of the Acquired Fund that are to be assumed by the Acquiring Fund in connection with the Reorganization, or to which the assets of the Acquired Fund to be transferred in the Reorganization are subject, were incurred by the Acquired Fund in the ordinary course of its business. Section 3.16
