Good Standing of the Fund. The Fund has been duly organized and is validly existing as an unincorporated voluntary association in good standing under the laws of the state of Delaware and has power and authority to own and lease its properties and to conduct its business as described in the Prospectus and to enter into and perform its obligations under this Agreement; and the Fund is duly qualified to transact business and is in good standing in each other jurisdiction in which such qualification is required, whether by reason of the ownership or leasing of property or the conduct of business, except where the failure so to qualify or to be in good standing would not result in a Material Adverse Effect.
Appears in 6 contracts
Samples: Purchase Agreement (Advent/Claymore Global Convertible Securities & Income Fund), Purchase Agreement (ING Global Advantage & Premium Opportunity Fund), Purchase Agreement (Advent/Claymore Enhanced Growth & Income Fund)
Good Standing of the Fund. The Fund has been duly organized and is validly existing as an unincorporated voluntary association in good standing under the laws of the state The Commonwealth of Delaware Massachusetts and has power and authority to own and lease its properties and to conduct its business as described in the Prospectus and to enter into and perform its obligations under this Agreement; and the Fund is duly qualified to transact business and is in good standing in each other jurisdiction in which such qualification is required, whether by reason of the ownership or leasing of property or the conduct of business, except where the failure so to qualify or to be in good standing would not result in a Material Adverse Effect.
Appears in 5 contracts
Samples: Western Asset Claymore Us Treasury Inflation Pro Sec Fund 2, Old Mutual/Claymore Long-Short Fund (f.k.a. Analytic Covered Call Plus Fund), Western Asset Claymore Us Treasury Inflation Pro Secu Fund
Good Standing of the Fund. The Fund has been duly organized and is validly existing as an unincorporated voluntary association a statutory trust in good standing under the laws of the state State of Delaware and has the power and authority to own own, lease and lease operate its properties and to conduct its business as described in the Prospectus and to enter into and perform its obligations under this Agreement; and the Fund is duly qualified as a foreign trust to transact business and is in good standing in each other jurisdiction in which such qualification is required, whether by reason of the ownership or leasing of property or the conduct of business, except where the failure so to qualify or to be in good standing would not result in a Material Adverse Effect.
Appears in 4 contracts
Samples: Auction Agency Agreement (Advent Claymore Convertible Securities & Income Fund), Auction Agency Agreement (Advent Claymore Convertible Securities & Income Fund), Evergreen Income Advantage Fund
