Exhibit (h)(xxiv)
AMENDMENT TO
SECURITIES LENDING AUTHORIZATION AGREEMENT
BETWEEN
AMERICAN BEACON FUNDS
(F/K/A AMERICAN AADVANTAGE FUNDS)
AND
STATE STREET BANK AND TRUST COMPANY
This Amendment (this "Amendment") dated as of August ____, 2005 is between
AMERICAN BEACON FUNDS (f/k/a American AAdvantage Funds), a registered management
investment company organized and existing under the laws of Massachusetts (the
"Client") and STATE STREET BANK AND TRUST COMPANY, a Massachusetts trust
company, its affiliates or subsidiaries ("State Street").
Reference is made to a Securities Lending Authorization Agreement dated
January 2, 1998 by and between the Client and State Street, as subsequently
amended by amendments dated January 1, 1999, July 1, 2003 and June 30, 2004, and
as otherwise in effect on the date hereof prior to giving effect to this
Amendment (the "Agreement"). The Client and State Street each desire to amend
the Agreement as defined below.
For value received, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties mutually
agree to amend the Agreement in the following respects:
1. DEFINITIONS. All terms used herein and not otherwise defined shall have the
meanings set forth in the Agreement.
2. AMENDMENTS.
(a) Section 3 of the Agreement is hereby amended by adding two new last
sentences to read as follows:
"State Street agrees to notify the Client when State Street approves
the lending of a security of an issuer in a new country (a "New
Market"). State Street will not lend in a New Market on behalf of the
Client unless State Street receives prior written authorization from
the Client."
(b) Client has notified State Street that effective March 1, 2005, the
Client changed its name from American AAdvantage Funds to American Beacon Funds.
Accordingly, all references in the Agreement to "American AAdvantage Funds" are
hereby deleted and replaced with "American Beacon Funds".
3. MISCELLANEOUS. Except to the extent specifically amended by this Amendment,
the provisions of the Agreement shall remain unmodified, and the Agreement is
ratified and affirmed as being in full force and effect. This Amendment, the
Agreement and the other documents and certificates referred to in the Agreement
constitute the entire understanding of the parties with respect to the subject
matter thereof and supersede all prior and current understandings and
agreements, whether written or oral. This Amendment shall be construed in
accordance with the laws of The Commonwealth of Massachusetts.
4. EFFECTIVE DATE. This Amendment shall be effective as of the date first
written above.
IN WITNESS WHEREOF, the parties hereto execute this Amendment as an
instrument under seal by their duly authorized officers by affixing their
signatures below.
AMERICAN BEACON FUNDS STATE STREET BANK AND
TRUST COMPANY
By: _______________________ By: _______________________
Name: ____________________ Name: ____________________
Title: _____________________ Title: _____________________
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