Common use of Representations and Warranties of the Acquiring Portfolio Clause in Contracts

Representations and Warranties of the Acquiring Portfolio. The Acquiring Portfolio represents and warrants to the Acquired Portfolio as follows: (a) Organization, Existence, etc. The Fund is duly formed and in good standing under the laws of the state of its organization and is duly authorized to transact business in the state of its organization. The Acquiring Portfolio is a separate series of the Fund duly designated in accordance with the applicable provisions of the Fund's organizational documents. The Acquiring Portfolio is qualified to do business in all jurisdictions in which it is required to be so qualified, except jurisdictions in which the failure so to qualify would not have a material adverse effect on the Acquiring Portfolio. The Acquiring Portfolio has obtained all material federal, state and local authorizations necessary to own all of the properties and assets and to carry on its business as now being conducted, except authorizations which the failure so to obtain would not have a material adverse effect on the Acquiring Portfolio.