ORGANIZATION EXPENSES AND OFFERING COSTS AGREEMENT
THIS ORGANIZATION EXPENSES AND OFFERING COSTS AGREEMENT made this 25th day
of September, 2003, by and between FIRST TRUST/FOUR CORNERS SENIOR FLOATING RATE
INCOME FUND, a Massachusetts business trust (the "Fund"), and FIRST TRUST
ADVISORS, L.P. (the "Adviser").
WITNESSETH:
WHEREAS, the Fund and the Adviser have separately entered into an
Investment Management Agreement on September 25, 2003;
WHEREAS, the Adviser in turn has entered into an Investment Sub-Advisory
Agreement dated September 25, 2003 (the "Sub-Advisory Agreement") with Four
Corners Capital Management LLC (the "Sub-Advisor").
NOW, THEREFORE, in consideration of the mutual covenants hereinafter
contained, and in connection with the establishment and commencement of
operations of the Fund, it is hereby agreed by and between the parties hereto as
follows:
1. The Adviser agrees to pay (i) all organizational expenses of the
Fund and (ii) all offering costs (other than sales loads) that exceed
$0.04 per Common Share (as such term is defined in the Fund's Prospectus).
In this regard, the Fund understands that the Adviser and Sub-Adviser have
determined to effectively allocate this obligation between themselves as
set forth in the Investment Sub-Advisory Agreement.
2. If any provision of this Agreement shall be held or made invalid
by a court decision, statute, rule, or otherwise, the remainder shall not
be thereby affected.
3. The Fund's Declaration of Trust is on file with the Secretary of
the Commonwealth of Massachusetts. This Agreement is executed on behalf of
the Fund by the Fund's officers as officers and not individually and the
obligations imposed upon the Fund by this Agreement are not binding upon
any of the Fund's Trustees, officers or shareholders individually but are
binding only upon the assets and property of the Fund.
4. This Agreement shall be construed in accordance with applicable
federal law and (except as to Section 3 hereof which shall be construed in
accordance with the laws of Massachusetts) the laws of the State of
Illinois.
IN WITNESS WHEREOF, the Fund and the Adviser have caused this Agreement to
be executed on the day and year above written.
FIRST TRUST /FOUR CORNERS SENIOR FLOATING RATE
INCOME FUND
By:
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Name: Xxxxx X. Xxxxx
Title: President
ATTEST:
---------------------------------
Name: Xxxx X. Xxxxxxx
Title: Chief Financial Officer
FIRST TRUST ADVISORS, L.P.
By:
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Name: Xxxxx X. Xxxxx
Title: President
ATTEST:
---------------------------------
Name: Xxxx X. Xxxxxxx
Title: Chief Financial Officer
