Authorization of Issuance of Interest. The issuance by the Portfolio of the Interest in exchange for the Investment by the Fund of its Assets has been duly authorized by all necessary action on the part of the Board of Trustees of AMR Trust. When issued in accordance with the terms of this Agreement, the Interest will be validly issued, fully paid and non-assessable by the Portfolio.
Appears in 5 contracts
Sources: Master Feeder Participation Agreement (Ameriprime Funds), Investment Management Agreement (Conseco Fund Group), Investment Management Agreement (Conseco Fund Group)