xiv xv. The Fund has complied in all previous tax years, except for tax years for which the applicable statute of limitations has expired, and intends to direct the investment of the proceeds of the offering described in the Registration Statement and the Prospectus in such a manner as to continue to comply, with the requirements of Subchapter M of the Internal Revenue Code of 1986, as amended ("Subchapter M of the Code"), and has qualified and intends to continue to qualify as a regulated investment company under Subchapter M of the Code.
xiv. (xv) The Fund has complied in all previous tax years and intends to direct the investment of the proceeds of the Offer described in the Registration Statement and the Prospectus in such a manner as to continue to comply, with the requirements of Subchapter M of the Internal Revenue Code of 1986, as amended ("Subchapter M of the Code"), and is qualified and intends to continue to qualify as a regulated investment company under Subchapter M of the Code.
xiv. The promoter had formulated a scheme to enable a person/party intending to have own Shop/Flat/Parking/Unit or premises in the said building named 360 EAST along with the undivided proportionate share and interest in the land on which the said building stands. The proportionate share or interest in the land is to be determined according to the constructed area comprising of the unit or premises proportionate to the total constructed area on the said land.
xiv xv. The Fund intends to direct the investment of the proceeds of the offering described in the Registration Statement and the Prospectus in such a manner as to comply with the requirements of Subchapter M of the Internal Revenue Code of 1986, as amended ("Subchapter M of the Code"), and is qualified and intends to continue to qualify as a regulated investment company under Subchapter M of the Code.
xiv. 1 ----------- ---------------------------------------- Article XV Fiduciary Provisions......................... XV-1 ---------- -------------------- Article XVI Amendments................................... XVI-1 ----------- ---------- Article XVII Discontinuance of Contributions, Termination, Partial Termination, and Merger or Consolidation.................. XVII-1 Article XVIII Participating Employers......................
xiv. This Agreement shall be binding upon, and inure solely to the benefit of, the Underwriters, the Guarantor, the Trust and, to the extent provided in Section VIII hereof, the officers and directors of the Guarantor, the Trust and each person who controls the Guarantor or the Trust or any Underwriter, and their respective heirs, executors, administrators, successors and assigns, and no other person shall acquire or have any right under or by virtue of this Agreement. No purchaser of any of the Offered Securities from any Underwriter shall be deemed a successor or assign by reason merely of such purchase. Time shall be of the essence of this Agreement. This Agreement may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. This Agreement and the rights and obligations of the parties created hereby shall be governed by the laws of the State of New York. EXHIBIT A Opinion of Counsel for the Trust and the Guarantor The opinion or opinions of Squire, Sandxxx & Xempxxx X.X.P., counsel for the Trust and the Guarantor, to be delivered pursuant to Section V(b) of the Agreement, shall be to the following effect (all terms used herein which are defined in the Agreement have the meanings set forth therein):
xiv. At all times during the term of this Agreement, the shared goals of the District and County shall be to (a) strive to meet the Joint Library support needs of the College and its students, faculty and guests, and of Xxxxxx County and the residents of the County; and (b) share certain costs, library collections and materials, library facilities, staffing and purchasing, with a minimizing of duplication of services and functions as much as possible.
xiv
