the ratable allocation of the premium among the insureds, and the
extent to which the share of the premium allocated to each Company
is less than the premium each Company would have had to pay had
such Renewed Joint Fidelity Bond not been obtained; and it is
further
RESOLVED, that the Authorized Officers be, and each of them
individually hereby is, authorized and directed to cause each
Company to pay the annual premium payable with respect to the
Renewed Joint Fidelity Bond and to enter into and execute, on
behalf of each Company, an agreement reflecting the provisions of
the Renewed Joint Fidelity Bond and relating to the sharing of
premiums and division of proceeds in the event of a joint fidelity
loss, as required by Rule 17g-1(f) under the 1940 Act (the
“Joint Insured Bond Allocation Agreement”); and it is
further
RESOLVED, that the terms and conditions of each Joint
Insured Bond Allocation Agreement, in substantially the form
attached hereto as Exhibit L, be, and hereby are, approved
and adopted in all respects, with such amendments thereto as any
Authorized Officer may approve, and with approval of such further
amendments evidenced by their inclusion in each Company’s Joint
Insured Bond Allocation Agreement; and it is further
RESOLVED, that the Authorized Officers be, and each of them
individually hereby is, authorized and directed, in the name of and
on behalf of each Company, to execute the Joint Insured Bond
Allocation Agreement on behalf of each Company; and it is
further
RESOLVED, that the Authorized Officers be, and each of them
individually hereby is, authorized, empowered and directed to make
filings with the SEC, in consultation with counsel to each Company,
and to give notices as may be required, from time to time, pursuant
to Rule 17g-l(g) and Rule 17g-l(h) under the 1940 Act; and it is
further
RESOLVED, that the Authorized Officers be, and each of them
individually hereby is, authorized and directed to amend each
Company’s Renewed Joint Fidelity Bond, in consultation with counsel
to each Company; and it is further
RESOLVED, that the Authorized Officers be, and each of them
individually hereby is authorized, empowered and directed, in the
name of and on behalf of each Company, to enter into, execute and
deliver any agreement or other instrument, and to take all such
steps, and to make all such payments, fees and remittances, as such
Authorized Officer, with the advice of counsel, deems necessary,
advisable or desirable or as may be required under the requirements
of applicable law, including but not limited to the 1940 Act, to
carry out the intent of the foregoing resolutions, such
determination to be conclusively evidenced by the execution and
delivery thereof; and it is further
RESOLVED, that any and all actions previously taken by each
Company or any of its respective directors or officers or others
acting on behalf of such Company in connection with the actions
contemplated by the foregoing resolutions be, and each of them
hereby is, ratified, confirmed, approved and adopted in all
respects as and for the acts and deeds of such Company.