Common use of AUTHORIZATION AND ISSUANCE OF SHARES Clause in Contracts

AUTHORIZATION AND ISSUANCE OF SHARES. 1. The Corporation shall deliver to UMBFS the following documents on or before the effective date of any increase or decrease in the total number of Shares authorized to be issued: (a) A certified copy of the amendment to the Articles of Incorporation giving effect to such increase or decrease; (b) In the case of an increase, an opinion of counsel for the Corporation with respect to the validity of the Shares and the status of such Shares under the 1933 Act, and any other applicable law or regulation (i.e., if subject to registration, that they have been registered and that the Registration Statement has become effective or, if exempt, the specific grounds therefor); and (c) In the case of an increase, if the appointment of UMBFS was theretofore expressly limited, a certified copy of a resolution of the Board of Directors of the Corporation increasing the authority of UMBFS. 2. Prior to the issuance of any additional Shares pursuant to stock dividends or stock splits, etc., and prior to any reduction in the number of shares outstanding, the Fund shall deliver the following documents to UMBFS: (a) A certified copy of the resolution(s) adopted by the Board of Directors of the Corporation and/or the shareholders of the Fund or Funds effected thereby, authorizing such issuance of additional Shares or such reduction, as the case may be, and (b) An opinion of counsel for the Corporation with respect to the validity of the Shares and the status of such Shares under the 1933 Act, and any other applicable federal law or regulation (i.e., if subject to registration, that they have been registered and that the Registration Statement has become effective, or, if exempt, the specific grounds therefor).

AUTHORIZATION AND ISSUANCE OF SHARES. 113. The Corporation Fund shall deliver to UMBFS the Transfer Agent the following documents on or before the effective date of any increase or decrease in the total number of Shares authorized to be issued: (a1) A certified copy of the amendment to the Articles of Incorporation giving effect to such increase or decrease; (b2) In the case of an increase, an opinion of counsel for the Corporation Fund with respect to the validity of the Shares of capital stock of the Fund and the status of such Shares under the 1933 ActSecurities Act of 1933, as amended, and any other applicable federal law or regulation (i.e., if subject to registration, that they have been registered and that the Registration Statement has become effective or, if exempt, the specific grounds therefor); and (c3) In the case of an increase, if the appointment of UMBFS the Transfer Agent was theretofore expressly limited, a certified copy of a resolution of the Board of Directors of the Corporation Fund increasing the authority of UMBFSthe Transfer Agent. 214. Prior to the issuance of any additional Shares of the Fund pursuant to stock dividends or stock splits, etc., and prior to any reduction in the number of shares Shares outstanding, the Fund shall deliver the following documents to UMBFSthe Transfer Agent: (a1) A certified copy of the resolution(s) adopted by the Board of Directors of the Corporation and/or the shareholders of the Fund or Funds effected thereby, authorizing such issuance of additional Shares of the Fund or such reduction, as the case may be, ; and (b2) An opinion of counsel for the Corporation Fund with respect to the validity of the Shares of the Fund and the status of such Shares under the 1933 ActSecurities Act of 1933, as amended, and any other applicable federal law or regulation (i.e., if subject to registration, that they have been registered and that the Registration Statement has become effective, effective or, if exempt, the specific grounds therefor).

AUTHORIZATION AND ISSUANCE OF SHARES. 1. The Corporation Fund shall deliver to UMBFS the Transfer Agent the following documents on or before the effective date of any increase or decrease in the total number of Shares authorized to be issued: (a) A certified copy of the amendment to the Articles of Incorporation giving effect to such increase or decrease; (b) In the case of an increase, an opinion of counsel for the Corporation Fund with respect to the validity of the Shares of the Fund and the status of such Shares under the 1933 ActSecurities Act of 1933, as amended, and any other applicable federal law or regulation (i.e., if subject to registration, that they have been registered and that the Registration Statement has become effective or, if exempt, the specific grounds therefor); and (c) In the case of an increase, if the appointment of UMBFS the Transfer Agent was theretofore expressly limited, a certified copy of a resolution of the Board of Directors of the Corporation Fund increasing the authority of UMBFSthe Transfer Agent. 2. Prior to the issuance of any additional Shares of the Fund pursuant to stock dividends or stock splits, etc., and prior to any reduction in the number of shares outstanding, the Fund shall deliver the following documents to UMBFSthe Transfer Agent: (a) A certified copy of the resolution(s) adopted by the Board of Directors of the Corporation Director and/or the shareholders of the Fund or Funds effected thereby, authorizing such issuance of additional Shares of the Fund or such reduction, as the case may be, and (b) An opinion of counsel for the Corporation Fund with respect to the validity of the Shares of the Fund and the status of such Shares under the 1933 ActSecurities Act of 1933, as amended, and any other applicable federal law or regulation (i.e., if subject to registration, that they have been registered and that the Registration Statement has become effective, or, if exempt, the specific grounds therefor).

AUTHORIZATION AND ISSUANCE OF SHARES. 1. The Corporation If requested by the Transfer Agent, the Fund shall deliver to UMBFS the Transfer Agent the following documents on or before the effective date of any increase or decrease in the total number of Shares authorized to be issued: (a) A certified copy of the amendment to the Articles of Incorporation giving effect to such increase or decrease; ; (b) In the case of an increase, an opinion of counsel for the Corporation Fund with respect to the validity of the Shares of the Fund and the status of such Shares under the 1933 ActSecurities Act of 1933, as amended, and any other applicable federal law or regulation (i.e., if subject to registration, that they have been registered and that the Registration Statement registration statement has become effective or, if exempt, the specific grounds therefor); and and (c) In the case of an increase, if the appointment of UMBFS the Transfer Agent was theretofore expressly limited, a certified copy of a resolution of the Board of Directors of the Corporation Fund increasing the authority of UMBFSthe Transfer Agent. 2. Prior to the issuance of any additional Shares pursuant to stock dividends or stock splits, etc., and prior to any reduction in the number of shares Shares outstanding, if requested by the Transfer Agent, the Fund shall deliver the following documents to UMBFSthe Transfer Agent: (a) A certified copy of the resolution(s) adopted by the Board of Directors of the Corporation and/or the shareholders of the Fund or Funds effected thereby, authorizing such issuance of additional Shares or such reduction, as the case may be, and ; and (b) An opinion of counsel for the Corporation Fund with respect to the validity of the Shares and the status of such Shares under the 1933 ActSecurities Act of 1933, as amended, and any other applicable federal law or regulation (i.e., if subject to registration, that they have been registered and that the Registration Statement registration statement has become effective, or, if exempt, the specific grounds therefor).