Common use of Representations and Warranties of the Trustees Clause in Contracts

Representations and Warranties of the Trustees. The Trustees represent and warrant to the Paying Agent that: (a) the Trust is a validly existing trust under the laws of the State of New York and the Trustees have full power under the Trust Agreement to execute and deliver this Agreement and to authorize, create and issue the PEPS; (b) this Agreement has been duly and validly authorized, executed and delivered by the Trustees and constitutes the valid and binding agreement of the Trustees, (c) the form of the certificate evidencing the PEPS complies with all applicable laws of the State of New York; (d) the PEPS have been duly and validly authorized, executed and delivered by the Trustees and are validly issued; (e) the PEPS have been registered under the Securities Act of 1933 and the Trust has been registered under the Investment Company Act and no further action by or before any governmental body or authority of the United States or of any state thereof is required in connection with the execution and delivery of this Agreement or the issuance of the PEPS; (f) the execution and delivery of this Agreement and the issuance and delivery of the PEPS do not and will not conflict with, violate, or result in a breach of, the terms, conditions or provisions of, or constitute a default under, the Trust Agreement, any law or regulation, any order or decree of any court or public authority having jurisdiction over the Trust, or any mortgage, indenture, contract, agreement or undertaking to which the Trustees are a party or by which any of them are bound; and (g) no taxes are payable upon or in respect of the execution of this Agreement or the issuance of the PEPS.

Representations and Warranties of the Trustees. The Trustees represent Trust represents and warrant warrants to the Paying Agent that: (a) the Trust is a validly existing trust under the laws of the State of New York Delaware and the Trustees have full power under the Trust Agreement to execute and deliver this Agreement and to authorize, create and issue the PEPSDECS; (b) this Agreement has been duly and validly authorized, executed and delivered by the Trustees Trust and constitutes the valid and binding agreement of the Trustees,Trust, enforceable against the Trust in accordance with its terms, subject as to such enforceability to bankruptcy, insolvency, reorganization and other laws of general applicability relating to or affecting creditors' rights and to general equitable principles; (c) the form of the certificate evidencing the PEPS DECS complies with all applicable laws of the State of Delaware and the State of New York; (d) the PEPS DECS have been duly and validly authorized, executed and delivered by the Trustees Trust and are validly issued; (e) the PEPS DECS have been registered under the Securities Act of 1933 and the Trust has been registered under the Investment Company Act and no further action by or before any governmental body or authority of the United States or of any state thereof is required in connection with the execution and delivery of this Agreement or the issuance of the PEPSDECS; (f) the execution and delivery of this Agreement and the issuance and delivery of the PEPS DECS do not and will not conflict with, violate, or result in a breach of, the terms, conditions or provisions of, or constitute a default under, the Trust Agreement, any law or regulation, any order or decree of any court or public authority having jurisdiction over the Trust, or any mortgage, indenture, contract, agreement or undertaking to which the Trustees are a party or by which any of them are bound; and (g) no taxes are payable upon or in respect of the execution of this Agreement or the issuance of the PEPSDECS.

Representations and Warranties of the Trustees. The Trustees represent and warrant to the Paying Agent that: (a) the Trust is a validly existing trust under the laws of the State of New York Delaware and the Trustees have full power under the Trust Agreement to execute and deliver this Agreement and to authorize, create and issue the PEPSTIMES; (b) this Agreement has been duly and validly authorized, executed and delivered by the Trustees and constitutes the valid and binding agreement of the Trustees,, enforceable against the Trustees in accordance with its terms, subject as to such enforceability to bankruptcy, insolvency, reorganization and other laws of general applicability relating to or affecting creditors' rights and to general equitable principles; (c) the form of the certificate evidencing the PEPS TIMES complies with all applicable laws of the State of New YorkDelaware; (d) the PEPS TIMES have been duly and validly authorized, executed and delivered by the Trustees and are validly issued; (e) the PEPS have offer and sale of the TIMES has been registered under the Securities Act of 1933 and the Trust has been registered under the Investment Company Act and no further action by or before any governmental body or authority of the United States or of any state thereof is required in connection with the execution and delivery of this Agreement or the issuance of the PEPSTIMES; (f) the execution and delivery of this Agreement and the issuance and delivery of the PEPS TIMES do not and will not conflict with, violate, or result in a breach of, the terms, conditions or provisions of, or constitute a default under, the Trust Agreement, any law or regulation, any order or decree of any court or public authority having jurisdiction over the Trust, or any mortgage, indenture, contract, agreement or undertaking to which the Trustees are a party or by which any of them are bound; and (g) no taxes are payable upon or in respect of the execution of this Agreement or the issuance of the PEPSTIMES.