Document:

EX-10.2 THIRD AMENDED/RESTATED PURCH/SALE AGRMT.

 

EXHIBIT 10.2

 

THIRD AMENDED AND RESTATED

PURCHASE AND SALE AGREEMENT

among

A I M MANAGEMENT GROUP INC.,

as Seller

A I M DISTRIBUTORS, INC.,

as Distributor

A I M ADVISORS, INC.,

as Advisor

INVESCO FUNDS GROUP, INC.,

as Advisor

CITIBANK, N.A.,

as Purchaser

and

CITICORP NORTH AMERICA, INC.,

as Program Agent

Dated as of August 18, 2003

 

 

 

TABLE OF CONTENTS

	 	 	 
	 	 	Page
	ARTICLE I
	 	 
	DEFINITIONS AND RULES OF CONSTRUCTION
	 	 
	 
	 	 
	SECTION 1.01. Definitions
	 	2
	 
	 	 
	SECTION 1.02. Rules of Construction
	 	2
	 
	 	 
	ARTICLE II
	 	 
	PURCHASE AND SALE OF RECEIVABLES; ADDITIONAL FUNDS
	 	 
	 
	 	 
	SECTION 2.01. Purchase of Receivables
	 	2
	 
	 	 
	SECTION 2.02. Purchase Notices and Funding Notices
	 	2
	 
	 	 
	SECTION 2.03. Additional Funds and Companies
	 	3
	 
	 	 
	ARTICLE III
	 	 
	CONDITIONS PRECEDENT
	 	 
	 
	 	 
	SECTION 3.01. Conditions Precedent to Effectiveness
	 	4
	 
	 	 
	SECTION 3.02. Conditions Precedent to the Purchaser’s Obligation to Purchase
Receivables
	 	5
	 
	 	 
	ARTICLE IV
	 	 
	REPRESENTATIONS AND WARRANTIES
	 	 
	 
	 	 
	SECTION 4.01. Representations and Warranties of the Seller,
the Distributor and the Advisors
	 	6
	 
	 	 
	SECTION 4.02 Additional Representations and Warranties of the Seller 
	 	11
	 
	 	 
	SECTION 4.03 Additional Representations and Warranties of the Distributor 
	 	13
	 
	 	 
	ARTICLE V
	 	 
	COVENANTS
	 	 
	 
	 	 
	SECTION 5.01. Affirmative Covenants of the Seller, the
Distributor and the Advisors
	 	12
	 
	 	 
	SECTION 5.02. Negative Covenants of the Seller, the
Distributor and the Advisors
	 	17
	 
	 	 
	SECTION 5.03 Additional Covenants of the Seller 
	 	21
	 
	 	 
	SECTION 5.04 Additional Covenants of the Distributor 
	 	22

 

 

	 	 	 
	 	 	Page
	ARTICLE VI
	 	 
	EVENTS OF TERMINATION
	 	 
	 
	 	 
	SECTION 6.01. Events of Termination.
	 	22
	 
	 	 
	ARTICLE VII
	 	 
	THE PROGRAM AGENT
	 	 
	 
	 	 
	SECTION 7.01. Authorization and Action
	 	25
	 
	 	 
	SECTION 7.02. Program agent’s Reliance, Etc.
	 	26
	 
	 	 
	SECTION 7.03. Indemnification
	 	26
	 
	 	 
	SECTION 7.04. Rights of the Program Agent
	 	27
	 
	 	 
	ARTICLE VIII
	 	 
	 
	 	 
	SECTION 8.01. Undertakings; Payment of Damages 
	 	27
	 
	 	 
	SECTION 8.02. Agreement Not Affected
	 	27
	 
	 	 
	SECTION 8.03. Waiver of Notice; No Offset; No Subrogation
	 	27
	 
	 	 
	ARTICLE IX
	 	 
	MISCELLANEOUS
	 	 
	 
	 	 
	SECTION 9.01. No Waiver; Modifications in Writing
	 	28
	 
	 	 
	SECTION 9.02. Payment
	 	28
	 
	 	 
	SECTION 9.03. Notices, etc.
	 	28
	 
	 	 
	SECTION 9.04. Costs and Expenses; Indemnification
	 	31
	 
	 	 
	SECTION 9.05. Taxes
	 	35
	 
	 	 
	SECTION 9.06. Execution in Counterparts
	 	37
	 
	 	 
	SECTION 9.07. Binding Effect; Assignment
	 	37
	 
	 	 
	SECTION 9.08. Governing Law; Submission to Jurisdiction
	 	38
	 
	 	 
	SECTION 9.09. Severability of Provisions
	 	38
	 
	 	 
	SECTION 9.10. Confidentiality
	 	38
	 
	 	 
	SECTION 9.11. Intent of Agreement
	 	39
	 
	 	 
	SECTION 9.12. Liability to Any Company
	 	39

 

 

	 	 	 
	 	 	Page
	SECTION 9.13. Merger
	 	39
	 
	 	 
	SECTION 9.14. Further acts
	 	39
	 
	 	 
	SECTION 9.15. Assignee Rights; Etc.
	 	40
	 
	 	 
	SECTION 9.16. Specific Performance; Other Rights and Remedies
	 	41
	 
	 	 

	 	 	 	 	 
	 

	 	SCHEDULES
	 	 
	 
	 	 	 	 
	SCHEDULE I

	 	Form of Purchaser Report	 	 
	SCHEDULE II

	 	List of Funds, List of Companies and Shares	 	 
	SCHEDULE III

	 	CDSCs	 	 
	SCHEDULE IV

	 	List of Fundamental Investment Objectives	 	 
	SCHEDULE V

	 	Form of Legend	 	 
	SCHEDULE VI

	 	Conditions For a Permitted Change in Control	 	 
	SCHEDULE VII

	 	Location of Records	 	 
	 
	 	 	 	 
	 

	 	EXHIBITS	 	 
	 
	 	 	 	 
	EXHIBIT A

	 	Form of Purchase Notice	 	 
	EXHIBIT B-1

	 	Form of Distributor’s Certificate	 	 
	EXHIBIT B-2

	 	Form of Seller’s Certificate	 	 
	EXHIBIT B-3

	 	Form of Advisor’s Certificate	 	 
	EXHIBIT C

	 	Form of Irrevocable Payment Instruction	 	 
	EXHIBIT D

	 	Form of Additional Eligible Fund Addendum	 	 
	EXHIBIT E

	 	Allocation Procedures	 	 
	EXHIBIT F

	 	Form of Take-out Notice	 	 
	 
	 	 	 	 
	APPENDIX A

	 	Definition List	 	 

 

 

THIRD AMENDED AND RESTATED

PURCHASE AND SALE AGREEMENT

     THIRD AMENDED AND RESTATED PURCHASE AND SALE AGREEMENT dated as of August 18, 2003 (as amended
and supplemented, this “Agreement”) among CITIBANK, N.A. (together with its successors and assigns,
the “Purchaser”), CITICORP NORTH AMERICA, INC., as agent for the Purchaser (together with its
permitted successors and assigns, the “Program Agent”), A I M MANAGEMENT GROUP INC. (together with
its permitted successors and assigns, the “Seller”), A I M DISTRIBUTORS, INC. (together with its
permitted successors and assigns, the “Distributor”), A I M ADVISORS, INC. (“AAI”) and INVESCO
FUNDS GROUP, INC. (“IFG”).

WITNESSETH

     WHEREAS, the Seller, the Distributor, AAI, the Purchaser and the Program Agent are parties to
that certain Second Amended and Restated Purchase and Sale Agreement dated as of December 14, 2000
(as amended and supplemented prior to the date hereof, the “Existing AIM Purchase Agreement”);

     WHEREAS, the Distributor, IFG, the Purchaser and the Program Agent are parties to that certain
Purchase and Sale Agreement dated as of December 14, 2000 (as amended and supplemented prior to the
date hereof, the “Existing INVESCO Purchase Agreement”); and

     WHEREAS, the parties hereto desire to combine, amend and restate the Existing AIM Purchase
Agreement and the Existing INVESCO Purchase Agreement as set forth herein;

     NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:

ARTICLE I

DEFINITIONS AND RULES OF CONSTRUCTION

     Section 1.01. Definitions. 

     Capitalized terms not otherwise defined herein shall have the meanings assigned to such terms
in the Definitions List attached hereto as Appendix A.

     Section 1.02. Rules of Construction.

     For all purposes of this Agreement, except as otherwise expressly provided or unless the
context otherwise requires (a) each use in this Agreement of a singular version of a pronoun shall
be deemed to include references to the plural, and vice versa, (b) Article and Section headings are
for convenience of reference only and shall not affect the construction of this Agreement, and (c)
references to “this section” or words of similar import shall be deemed to refer to the entire
section and not to a particular subsection, and references to “hereunder”,

1

 

“herein” or words of similar import shall be deemed to refer to this entire Agreement and not
to the particular section or subsection.

ARTICLE II

PURCHASE AND SALE OF RECEIVABLES; ADDITIONAL FUNDS

     Section 2.01. Purchase of Receivables. 

     On each Purchase Date and subject to and upon the terms and conditions set forth in this
Agreement, the Seller shall sell, transfer, convey and assign to the Purchaser on and as of such
Purchase Date, all of the Seller’s right, title and interest in, to and under the Receivables and
the Collections and Ancillary Rights in respect thereof relating to the sales of Shares (other than
Excluded Shares) of each Fund for the Purchase Period to which such Purchase Date relates, and the
Purchaser shall purchase from the Seller such Receivables and Ancillary Rights in respect thereof
and Collections for an amount equal to the aggregate Purchase Prices payable in respect of such
Receivables. The Purchase Prices to be paid by the Purchaser on each Purchase Date shall be paid
in immediately available funds by wire transfer to the Seller’s Account. Notwithstanding anything
in this Agreement to the contrary, the Purchaser shall not purchase on any Purchase Date and the
Seller shall not sell to the Purchaser any Receivables relating to any Excluded Shares.

     Section 2.02. Purchase Notices.

     With respect to the Receivables to be purchased on any Purchase Date, the Seller shall
transmit or shall cause to be transmitted to the Program Agent, not later than 10:00 a.m. (New York
City time) on the Business Day which is two Business Days prior to such proposed Purchase Date, a
Purchase Notice; provided, however, that no more than two (2) Purchase Dates shall
occur in any calendar week. The Seller agrees that it shall deliver from time to time prior to the
Termination Date, but no less frequently than once each calendar month, a Purchase Notice,
sufficient to initiate the sale of the Receivables for the period from the immediately preceding
Sale Cutoff Date to the Sale Cutoff Date specified in such Purchase Notice, which Sale Cutoff Date
shall not be more than five (5) Business Days prior to the proposed Purchase Date.

     The Seller may, unless otherwise notified to the contrary by the Program Agent, transmit
Purchase Notices to the Program Agent by electronic mail (each, an “E-Mail Purchase Notice”);
provided, that, (i) each E-Mail Purchase Notice shall be formatted as the Program
Agent may designate from time to time, (ii) each E-Mail Purchase Notice shall be sent to the
Program Agent at an electronic mail address designated by the Program Agent, and (iii) the executed
signature page for each E-Mail Purchase Notice shall be transmitted via facsimile transmission to
the Program Agent at the facsimile numbers specified for the Program Agent in Section 9.03. Each
E-Mail Purchase Notice shall be deemed given when receipt of such transmission is acknowledged by
the Program Agent.

     Section 2.03. Additional Funds and Companies.

     Unless an Event of Termination (or an event which, with the passage of time or notice, or
both, would constitute an Event of Termination) shall have occurred and be continuing, the Seller
may request that on the applicable Addition Effective Date an Additional

2

 

Eligible Fund become a “Fund” under this Agreement and if such Additional Eligible Fund is not
a series of an existing “Company” under this Agreement the Seller may request that the investment
company of which such Additional Fund is a series becomes a “Company” under this Agreement;
provided, that such additional investment company (the “Additional Company”) is registered
with the SEC under the Investment Company Act. On and as of such Addition Effective Date, (i) each
Additional Eligible Fund and Additional Company shall become a Fund and a Company, respectively,
hereunder, (ii) the Servicing Agreement shall be deemed to be supplemented to reflect such
addition, (iii) Schedules II and IV hereto shall be deemed to be supplemented to add the applicable
information relating to such Fund set forth in the Additional Eligible Fund Addendum relating to
such Additional Eligible Fund and (iv) any reference in this Agreement to any change or
modification since the date of this Agreement to the underwriting agreement, distribution plan,
advisory agreement, prospectus, the fundamental investment objectives or contingent deferred sales
charge arrangement in respect of such Additional Eligible Fund shall be deemed to refer to any
change or modification thereof since such Addition Effective Date.

     The term “Addition Effective Date” shall mean with respect to any Additional Eligible Fund,
the first date on which all of the following conditions shall have been satisfied:

(i) the Program Agent shall have received a fully executed Additional Eligible Fund
Addendum, together with such signed opinions of counsel to the applicable Company,
the Distributor, the applicable Advisor and the Seller, each dated a date reasonably
near the Addition Effective Date, as the Program Agent shall have reasonably
requested, all in form, scope and substance reasonably satisfactory to the Program
Agent; provided, however, that neither the Seller nor the
Distributor will be required to deliver a True Sale opinion in connection with such
addition;

(ii) the Program Agent shall have received such instruments, certificates and
documents regarding the addition of such Additional Eligible Fund from the
Distributor, the Seller, the applicable Advisor and the applicable Company, as the
Program Agent shall have reasonably requested; provided, however,
that an officer’s certificate in the form of Exhibits B-1 and B-2 shall not be
required;

(iii) the Program Agent and the Seller shall have agreed in writing to any change in
the Purchase Price Percentage applicable to the Receivables relating to such Fund;
and

(iv) the Program Agent shall have received evidence satisfactory to it that (a) the
conditions in respect of such Additional Eligible Fund set forth in Section 3.01 of
this Agreement immediately after the Addition Effective Date shall be satisfied, and
(b) that on such Addition Effective Date the Receivables relating to such Additional
Eligible Fund shall constitute Eligible Receivables.

3

 

ARTICLE III

CONDITIONS PRECEDENT

     Section 3.01. Conditions Precedent to Effectiveness.

     The effectiveness of each of the Existing Purchase Agreements was subject to the fulfillment
of the following conditions precedent:

     (a) such Existing Purchase Agreement, the Servicing Agreement, the Collection Agency
Agreement, the Irrevocable Payment Instructions, the Underwriting Agreement and the Transfer
Agreement (as such terms are defined in such Existing Purchase Agreement) shall each have been duly
executed by the parties thereto and shall each be in full force and effect, and the Program Agent
shall have received fully executed copies thereof;

     (b) the Program Agent shall have received fully executed copies of each Underwriting
Agreement, Distribution Plan, Prospectus and Advisory Agreement relating to each Fund which shall
be in full force and effect and shall be in form and substance reasonably satisfactory to the
Program Agent;

     (c) the Program Agent shall have received such opinions of counsel as it shall have reasonably
requested in form, scope and substance reasonably satisfactory to the Program Agent;

     (d) the Program Agent shall have received a signed certificate of the President or a Vice
President and a Secretary or Assistant Secretary of the Distributor (as defined in such Existing
Purchase Agreement), the Seller (as defined in such Existing Purchase Agreement)and the applicable
Advisor, substantially in the form of Exhibits B-1, B-2 and B-3 hereto, respectively;

     (e) the Program Agent shall have received time stamped receipt copies of proper financing
statements duly filed under the UCC of all jurisdictions that the Program Agent may reasonably deem
necessary or desirable in order to perfect the ownership interest of the Seller in the Receivables
(as defined in such Existing Purchase Agreement) sold pursuant to the Transfer Agreement and to
perfect the ownership interest of the Purchaser in the Purchased Receivables (as defined in such
Existing Purchase Agreement) relating to each Fund, as contemplated by such Existing Purchase
Agreement, and the Collections in respect thereto, each of which shall be in form, scope and
substance satisfactory to the Program Agent as of the date given;

     (f) the Program Agent shall have received certified copies of requests for information (Form
UCC-11) (or a similar search report certified by a party acceptable to the Program Agent), dated
reasonably near the initial Purchase Date under such Existing Purchase Agreement, listing all
effective financing statements which name the Distributor or the Seller (under their present names
or any previous names), as debtor and which are filed in the jurisdictions in which filings were
required to be made pursuant to Section 3.01(e) of such Existing Purchase Agreement, together with
copies of such financing statements (none of which, shall indicate any Adverse Claim on any
Receivables); and

4

 

     (g) the Board of Trustees of each Company shall have approved the Distribution Plan and
Underwriting Agreement relating to each Fund related to such Company by a vote of the majority of
its Trustees who are not interested persons, within the meaning of the Investment Company Act, in
recognition of the transactions contemplated by the Facility Documents by resolution acceptable as
of the date given to the Program Agent.

     Section 3.02. Conditions Precedent to the Purchaser’s Obligation to Purchase
Receivables.

     The obligation of the Purchaser to purchase Receivables relating to a Fund on any Purchase
Date shall be subject to the fulfillment at or prior to the time of such Purchase Date of the
following conditions:

     (a) no Event of Termination (or event which, with the passage of time or notice, or both,
would constitute an Event of Termination) shall have occurred and be continuing at or prior to such
Purchase Date or shall result therefrom and there shall not be continuing any proceeding of the
type referred to in Section 6.01(f);

     (b) the Seller (as Servicer or otherwise) shall have delivered to the Program Agent all
Purchaser Reports, Transfer Agent Reports and Sub-transfer Agent Reports as and when required to
have been delivered pursuant to this Agreement and the Servicing Agreement, which shall be in form
and substance reasonably satisfactory to the Purchaser and the Program Agent;

     (c) the Receivables relating to such Fund to be purchased on the applicable Purchase Date
shall constitute Eligible Receivables;

     (d) each of the Facility Documents shall be in full force and effect;

     (e) as of the Calculation Date relating to the calendar month immediately preceding the
Purchase Date upon which such Receivables are to be sold, the Weighted Average Percentage Decline
in the Net Asset Value of Shares of all Funds (adjusted for stock splits and excluding declines in
the Net Asset Value resulting from the payment of Normal Distributions) from the end of the
immediately preceding calendar month shall not be twenty-five percent (25%) or more, unless the
aggregate Net Asset Value of Shares of the Funds relating to Purchased Receivables shall thereafter
rise to a level of at least seventy-six percent (76%) of the aggregate Net Asset Value of Shares of
the Funds as of the Calculation Date immediately preceding the Calculation Date that the condition
specified in this clause (e) was not satisfied and was not subsequently complied with;
provided, that, for the avoidance of doubt, this condition shall be satisfied with
respect to any Purchase Date that does not occur on a Calculation Date if it was satisfied as of
the Calculation Date immediately preceding such Purchase Date.

     (f) such Fund or the Company in respect of such Fund shall not be prevented by any Authority
or by any Applicable Law from paying Collections or Related Collections relating to such Fund to
the Demand Deposit Account for further credit to the Collection Account in accordance with the
applicable Irrevocable Payment Instruction and neither such Fund nor the Company in respect of such
Fund shall have so asserted in writing;

5

 

     (g) the Purchaser and the Program Agent shall have received from the Distributor, the Advisors
and the Seller such instruments and documents as the Purchaser and the Program Agent may have
reasonably requested in connection with the Receivables relating to such Fund and any Purchase
Price payable on any such Purchase Date;

     (h) immediately after giving effect to all such purchases on such Purchase Date, the aggregate
Unamortized Aggregate Purchase Price relating to the Purchased Receivables of all Funds shall not
exceed the Purchase Limit;

     (i) such Fund or the Company relating to such Fund shall not be subject to any of the events
described in clauses (g), (q) or (r) of Section 6.01; and

     (j) such Fund (and in the case of any Fund which constitutes a Portfolio, the related Company
in respect of such Fund) shall not have proposed or effected a merger, consolidation or other
combination with or sale of its assets other than a Permitted Merger or proposed or effected any
Liquidation Plan.

ARTICLE IV

REPRESENTATIONS AND WARRANTIES

     Section 4.01. Representations and Warranties of the Seller, the Distributor and each
Advisor.

     The Seller, the Distributor and each Advisor (provided that for purposes of the
representations and warranties to be made by an Advisor under this Section 4.01, each reference to
Funds, Receivables or Purchased Receivables shall be deemed to refer only to the Funds in respect
of which such Advisor acts as investment advisor and to the Receivables and Purchased Receivables
relating to such Funds) represents and warrants to the Purchaser and the Program Agent, as to
itself, on and as of the date hereof and on and as of each Purchase Date, as follows:

     (a) it is duly organized and is validly existing and in good standing under the laws of the
jurisdiction of its incorporation, with full corporate power and authority to own and operate its
property, conduct the business in which it is now engaged and to execute and deliver and perform
its obligations under this Agreement and the other Facility Documents to which it is a party;

     (b) it is duly qualified to do business as a foreign corporation and is in good standing in
each jurisdiction in which the nature of its business or the performance of its obligations under
this Agreement and the other Program Documents to which it is a party requires such qualification,
where the failure to be so qualified could give rise to a reasonable possibility of an Adverse
Effect;

     (c) the execution, delivery and performance by it of this Agreement, the other Facility
Documents to which it is a party and the other instruments and agreements contemplated hereby or
thereby have been duly authorized by all requisite corporate action and have been duly executed and
delivered by it and constitute its legal, valid and binding obligations, enforceable against it in
accordance with their respective terms, except as such enforceability may be limited

6

 

by applicable bankruptcy laws and any other similar laws affecting the rights and remedies of
creditors generally and by equitable principles;

     (d) (i) it has the requisite corporate power and authority and legal right to execute and
deliver this Agreement and the other Facility Documents to which it is a party and to perform its
obligations hereunder and thereunder, and (ii) the Distributor and the Seller have the requisite
corporate power and authority and legal right to from time to time, sell Receivables (and in the
case of the Seller, the Ancillary Rights with respect thereto) relating to each Fund, and the
Collections with respect thereto in accordance with the terms of the Facility Documents and it has
duly authorized each such sale by all necessary action;

     (e) neither the execution and delivery of this Agreement, the other Program Documents to which
it is a party, or any instrument or agreement referred to herein or therein, or contemplated hereby
or thereby, nor the consummation of any of the transactions herein or therein contemplated, nor
compliance with the terms, conditions and provisions hereof or thereof by it (i) will conflict
with, or result in a breach or violation of, or constitute a default under, its certificate of
incorporation or by-laws, (ii) will conflict with, or result in a breach or violation of, or
constitute a default under, or permit the acceleration of any obligation or liability in, or but
for any requirement of the giving of notice or the passage of time (or both) would constitute such
a conflict with, breach or violation of, or default under, or permit any such acceleration in, any
contractual obligation or any agreement or document to which it is a party or by which it or any of
its properties is bound (or to which any such obligation, agreement or document relates, or under
any Underwriting Agreement, any Advisory Agreement or any Distribution Plan) where such conflict,
breach or violation could give rise to a reasonable possibility of an Adverse Effect, (iii) will
violate any Applicable Law, the violation of which could give rise to a reasonable possibility of
an Adverse Effect, (iv) could give rise to or permit the creation or imposition of any Adverse
Claim upon any Receivables or any Collections or any Related Collections relating to any Fund, or
(v) could, in and of themselves, give rise to the termination of any Underwriting Agreement, any
Advisory Agreement or any Distribution Plan;

     (f) it has obtained all Governmental Authorizations and Private Authorizations, and made all
Governmental Filings necessary for the execution, delivery and performance by it of this Agreement,
the other Program Documents to which it is party and the agreements and instruments contemplated
hereby or thereby and no consents which have not been obtained or waivers under any instruments to
which it is a party or by which it or any of its properties is bound are required to be obtained or
made by it in connection with the execution, delivery or performance of this Agreement and the
other Program Documents, except to the extent the failure to so obtain or make the same could not
give rise to a reasonable possibility of an Adverse Effect;

     (g) it is not in default in any of its obligations under this Agreement or any other Program
Document to which it is a party which default could give rise to a reasonable possibility of an
Adverse Effect;

     (h) there are no proceedings or investigations pending, or, to the best of its knowledge,
threatened, against it before any Authority (i) asserting the invalidity of this Agreement, any
other Facility Document to which it is a party or any certificate, document or

7

 

agreement executed by it in connection herewith or therewith, (ii) seeking to prevent the
consummation of any of the transactions contemplated by this Agreement or any other Facility
Document, or (iii) seeking any determination or ruling which, if granted, could adversely affect
the performance by it of its obligations under, or the validity or enforceability of, this
Agreement, any other Facility Document to which it is a party or any agreement, certificate or
document executed by it in connection herewith or therewith, which in each case, could reasonably
be expected to give rise to an Adverse Effect;

     (i) it is not an “investment company” or a company “controlled” by an “investment company”
within the meaning of the Investment Company Act;

     (j) it is not engaged principally or as one of its important activities in the business of
extending, or arranging for the extension of, credit for the purpose of purchasing or carrying any
margin stock within the meaning of Regulation U of the Board of Governors of the Federal Reserve
System and no part of the proceeds of the purchase price paid to it for Receivables under any
Facility Document will be used to purchase or carry any margin stock within the meaning of said
regulation or to extend credit to others for such purpose;

     (k) (i) all information (including, without limitation, the Purchaser Reports, the Transfer
Agent Reports, the Sub-transfer Agent Reports and the E-Mail Reports) provided by it or any of its
Affiliates, any Transfer Agent, any Sub-transfer Agent (other than information prepared by an
Unaffiliated Agent) or by any of their respective agents, auditors, legal counsel or other
representatives or any other Person at the request of any of the foregoing to the Purchaser, the
Program Agent or any other Person in writing for purposes of or in connection with this Agreement,
the other Facility Documents to which it or any of its Affiliates is a party or the transactions
contemplated hereby or thereby (including without limitation each Purchaser Report, each Transfer
Agent Report and each Sub-transfer Agent Report (other than a Transfer Agent Report or Sub-transfer
Agent Report prepared by an Unaffiliated Agent)) is, and all such information hereafter provided by
any such Person to the Purchaser, the Program Agent or any other Person in writing will be true,
correct and complete in all material respects on the date such information is stated or certified
and no such information contains, or will contain, any material misrepresentation or any omission
to state therein matters necessary to make the statements made therein not misleading in any
material respect, and (ii) to the best of its knowledge, all information (including, without
limitation, the Transfer Agent Reports and the Sub-transfer Agent Reports) prepared or provided by
or on behalf of any Unaffiliated Agent, to the Purchaser or the Program Agent in writing for
purposes of or in connection with this Agreement, the other Facility Documents or the transactions
contemplated hereby or thereby is, and all such information hereafter provided by any such
Unaffiliated Agent to the Purchaser, the Program Agent or any other Person in writing will be true,
correct and complete in all material respects on the date such information is stated or certified
and, to the best of its knowledge, no such information contains, or will contain, any material
misrepresentation or any omission to state therein matters necessary to make the statements made
therein not misleading in any material respect;

     (l) neither the Transfer Agent, any Company nor any Fund is prevented by any Applicable Law
from paying the Collections or Related Collections directly to the Demand

8

 

Deposit Account for further credit to the Collection Account in accordance with the applicable
Irrevocable Payment Instruction;

     (m) the Purchased Receivables relating to each Fund constitute Eligible Receivables;

     (n) no Share of a Fund to which a Purchased Receivable relates contains any Conversion Feature
other than a Permitted Conversion Feature;

     (o) no Share of a Fund (including, without limitation, a Share of a Fund resulting from one or
more Permitted Free Exchanges) taken into account in computing the Purchase Price paid pursuant to
this Agreement entitles the holder thereof to redeem the same in a Free Redemption except in the
specific situations set forth in the Prospectus of such Fund as in effect on the date hereof;

     (p) each of the Companies and each Advisor has complied with the Fundamental Investment
Objectives relating to each Fund and such Fundamental Investment Objectives for each such Fund have
not changed from those set forth in Schedule IV to the Purchase Agreement, except as shall have
been consented to in writing by the Program Agent;

     (q) it, each Company, each Fund, the Advisory Agreements, the Underwriting Agreements, the
Prospectus of each Fund, the Distribution Plans and the CDSC arrangements, in each case relating to
Shares of each Fund, are in compliance in all material respects with Applicable Law, including,
without limitation, Rule 12b-1 of the Investment Company Act and the Conduct Rules;

     (r) the Asset Based Sales Charge and CDSC arrangement relating to the Shares of each Fund and
the payments provided for in, and actually being made pursuant to, the Distribution Plan and the
Prospectus for each such Fund are fairly and accurately described in the Distribution Plan and
Prospectus relating to each such Fund; and

     (s) a true, correct and complete copy of each Underwriting Agreement, each Distribution Plan,
each Advisory Agreement and each Prospectus in effect on the date of this Agreement has been
delivered to the Program Agent on or before the date hereof, such Underwriting Agreements,
Distribution Plans and Advisory Agreements are each in full force and effect and have not been
amended or modified in any manner after the date hereof, except for such amendments or
modifications to the Prospectuses which do not affect any Fundamental Investment Objectives set
forth in Schedule IV hereto or any CDSC arrangement and which do not otherwise give rise to a
reasonable possibility of an Adverse Effect, unless the same is consented to in writing by the
Program Agent and such consent specifies the Fundamental Investment Objectives relating to each
affected Fund and amends Schedule IV in order to accurately and completely reflect the fundamental
investment objectives of each such affected Fund set forth in the then current Prospectus of such
Funds.

     Section 4.02. Additional Representations and Warranties of the Seller.

     The Seller represents and warrants to the Purchaser and the Program Agent on and as of the
date hereof and on and as of each Purchase Date as follows:

9

 

     (a) each transfer of Receivables and the Ancillary Rights with respect thereto to the
Purchaser under this Agreement constitutes a valid and complete True Sale to the Purchaser of all
right, title and interest in and to such Purchased Receivables, the Ancillary Rights with respect
thereto and the Collections in respect thereto, free and clear of any Adverse Claim; such transfer
has not been made with an intent to hinder, delay or defraud any present or future creditor; the
Purchase Price for such Purchased Receivables and the Ancillary Rights with respect thereto is fair
consideration and of reasonably equivalent value to the Purchased Receivables; and immediately
after each purchase pursuant to this Agreement the Seller will remain solvent and will have
adequate capital for the conduct of its business;

     (b) immediately after each purchase of Receivables by the Seller under the Transfer Agreement
and immediately prior to each purchase of Receivables and the Ancillary Rights with respect thereto
by the Purchaser hereunder, (i) no party claiming through the Distributor or the Seller has any
right, title or interest in such Receivables, the Ancillary Rights with respect thereto or the
Collections in respect thereto, including any payments or Proceeds in respect thereto, (ii) the
Seller owns such Receivables, the Ancillary Rights with respect thereto and the Collections in
respect thereto free and clear of all Adverse Claims or other such restrictions on transfer created
by or arising out of the acts or omissions of the Seller, the Distributor, the Transfer Agent or
any Selling Agent or any of its Affiliates, and (iii) such Receivables, the Ancillary Rights with
respect thereto and the right to Collections in respect thereto have not been sold, transferred or
assigned by the Seller to any other Person;

     (c) all action necessary or advisable to protect, preserve and perfect the Purchaser’s first
priority ownership interest in the Purchased Receivables, the Ancillary Rights in respect thereto
and the Collections in respect thereto, free and clear of all Adverse Claims has been duly and
effectively taken and no security agreement, financing statement, equivalent security or lien
instrument or continuation statement covering all or any part of such Purchased Receivables or
Ancillary Rights in respect thereto is required to be on file or on record in any jurisdiction,
except such as may have been filed, recorded or made as contemplated by this Agreement and the
other Facility Documents;

     (d) the Seller’s jurisdiction of incorporation is the State of Delaware and the Seller’s
principal place of business and principal executive office is 11 Greenway Plaza, Suite 100,
Houston, Texas 77046, or such other address as the Seller shall designate upon prior written notice
to the Program Agent, and the places where its records concerning the Purchased Receivables are
kept are at the addresses specified on Schedule VII hereto or such other location as the Seller
shall designate upon prior written notice to the Program Agent;

     (e) this Agreement and the actions of the Seller required to be taken pursuant to the terms
hereof are and at all times shall be effective to transfer to the Purchaser all of the Seller’s
right, title and interest in, to and under the Purchased Receivables and the Ancillary Rights with
respect thereto free and clear of any Adverse Claim; and

     (f) the Seller owns all of the outstanding capital stock of the Distributor.

10

 

     Section 4.03. Additional Representations and Warranties of the Distributor.

     The Distributor represents and warrants to each of the Purchaser and the Program Agent on and
as of the date hereof and on and as of each Purchase Date, as follows:

     (a) each transfer of Receivables to the Seller under the Transfer Agreement constitutes a
valid and complete True Sale to the Seller of all right, title and interest of the Distributor in
and to such Receivables and the Collections in respect thereto, free and clear of all Adverse
Claims; such transfer has not been made with an intent to hinder, delay or defraud any present or
future creditor; the purchase price for such Receivables is fair consideration and of reasonably
equivalent value to the Receivables; and immediately after each purchase pursuant to the Transfer
Agreement the Distributor will remain solvent and will have adequate capital for the conduct of its
business;

     (b) immediately prior to each purchase of Receivables by the Seller under the Transfer
Agreement, (i) no party claiming through the Distributor has any right, title or interest in such
Receivables or the Collections in respect thereto, including any payments or Proceeds in respect
thereto, (ii) the Distributor owns such Receivables and the Collections in respect thereto free and
clear of all Adverse Claims or other restrictions on transfer, and (iii) such Receivables and the
right to Collections in respect thereto have not been sold, transferred or assigned by the
Distributor to any other Person;

     (c) all action necessary or advisable to protect, preserve and perfect the Seller’s first
priority ownership interest in the Purchased Receivables and the Collections in respect thereto,
free and clear of all Adverse Claims has been duly and effectively taken and no security agreement,
financing statement, equivalent security or lien instrument or continuation statement covering all
or any part of such Receivables is required to be on file or on record in any jurisdiction, except
as have been filed or recorded;

     (d) the Distributor’s jurisdiction of incorporation is the State of Delaware and the
Distributor’s principal place of business and principal executive office is 11 Greenway Plaza,
Suite 100, Houston, Texas 77046, or such other address as the Seller shall designate upon prior
written notice to the Program Agent, and the places where its records, if any, concerning the
Purchased Receivables are kept are at the addresses specified on Schedule VII hereto or such other
location as the Distributor shall designate upon prior written notice to the Program Agent;

     (e) the Transfer Agreement and the actions of the Distributor required to be taken pursuant to
the terms thereof are and at all times shall be effective to transfer to the Seller all of the
Distributor’s right, title and interest in the Purchased Receivables free and clear of all Adverse
Claims; and

     (f) a true and complete copy of the Transfer Agreement has been delivered to the Program Agent
and has not been amended in any manner which gives rise to a reasonable possibility of an Adverse
Effect.

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ARTICLE V

COVENANTS

     Section 5.01. Affirmative Covenants of the Seller, the Distributor and each Advisor.

     The Seller, the Distributor and each Advisor (provided that an Advisor’s obligations under
this Section 5.01 in respect of any Fund or in respect of the Receivables or Purchased Receivables
relating to any Fund shall be deemed to refer to the Funds for which such Advisor acts as
investment advisor and the Receivables and Purchased Receivables relating to such Funds) covenants
and agrees that it shall:

     (a) and shall cause the Transfer Agent to, and shall use its best efforts to cause each
Selling Agent to, (i) duly observe and conform to all requirements of Applicable Law relative to
it, the conduct of its business or its properties or assets, (ii) preserve and keep in full force
and effect its corporate existence, rights, privileges and franchises, and (iii) obtain, maintain
and keep in full force and effect all Governmental Authorizations and Private Authorizations which
are necessary or appropriate to properly carry out the transactions contemplated to be performed by
it under this Agreement and the other Program Documents, except in such case where the failure to
so observe, conform to, preserve, obtain, maintain or keep in full force and effect could not give
rise to a reasonable possibility of an Adverse Effect;

     (b) duly fulfill all obligations on its part to be performed under or in connection with this
Agreement and the other Facility Documents and the agreements and instruments entered into in
connection herewith or therewith and use its best efforts to cause each Company to duly fulfill and
perform its obligations under the Facility Documents, the non-performance of which gives rise to a
reasonable possibility of an Adverse Effect;

     (c) promptly deliver to the Program Agent copies of any amendments or modifications to its
certificate of incorporation or by-laws, certified by one of its authorized officers;

     (d) (i) promptly give written notice to the Program Agent of the occurrence of any Event of
Termination (or event which, with the passage of time or notice, or both, would constitute an Event
of Termination), the failure of any conditions precedent set forth in Section 3.02 to be fully
satisfied during the period prior to the Termination Date, or any material breach of any term or
condition of any Facility Document, which in each case relates to or is caused by it or any of the
Affiliates or the performance of any such Persons under any Facility Document, (ii) give written
notice to the Program Agent, promptly after it becomes aware thereof, of any other Event of
Termination (or event which with the passage of time, notice or both would constitute such an Event
of Termination), or the failure of any other conditions precedent set forth in Section 3.02 or any
other material breach of any terms or conditions of any Facility Documents, (iii) promptly give
written notice to the Program Agent of any litigation or proceedings with respect to it or any
Significant Affiliates of the Seller or affecting it, any Significant Affiliates of the Seller or
any of their respective assets or properties, which if adversely determined, could give rise to a
reasonable possibility of an Adverse Effect, and (iv) upon request by the Program Agent, provide
such other information concerning its and the

12

 

Seller’s Significant Affiliates’ assets, financial condition or operations, as the Program
Agent may from time to time reasonably request;

     (e) cause to be computed, paid and discharged when due all taxes, assessments and other
charges or levies of any Authority imposed upon it, or upon any of its income or assets, prior to
the day on which any lien could be imposed in respect thereof unless and to the extent that the
same shall be contested in good faith by appropriate proceedings and could not give rise to a
reasonable possibility of an Adverse Effect;

     (f) to the extent obtained or received by it, furnish or cause to be furnished to the Program
Agent a copy of all Private Authorizations and all Governmental Authorizations obtained or made or
required to be obtained or made by it in connection with the transactions contemplated by this
Agreement, the Transfer Agreement, the Servicing Agreement and any other Facility Document to which
it is a party;

     (g) the Distributor and the Seller shall annually or more frequently as the Program Agent may
request upon the occurrence of an Event of Termination (or an event which upon the passage of time
or notice, or both, would constitute an Event of Termination) and at the sole cost and expense of
the Seller (i) cause an independent nationally recognized accounting firm selected by it and
reasonably satisfactory to the Program Agent to enter its premises (and each other Person to whom
it delegates any of its duties under the Facility Documents) and examine and audit the books,
records and accounts relating to the Receivables, the Collections in respect thereto and its or
such other Person’s performance under the Facility Documents, (ii) permit such accounting firm to
discuss its or such other Person’s affairs, finances, accounts and performance under the Facility
Documents with its or such other Person’s officers, partners, employees and accountants,
(iii) cause such accounting firm to provide the Purchaser and the Program Agent with a certified
report in respect of the foregoing, which shall be in form and scope reasonably satisfactory to the
Program Agent and the Purchaser, and (iv) authorize such accounting firm to discuss such affairs,
finances, records and accounts with representatives of the Program Agent or the Purchaser and any
Permitted Designee; provided, however, that so long as no Event of Termination (or
an event which upon the passage of time or notice, or both, would constitute an Event of
Termination) shall have occurred or be continuing, such audits shall be limited to one per year and
it shall not be obligated to reimburse the Purchaser or the Program Agent for costs or expenses of
any single audit which together with the costs and expenses of all other audits of the Distributor
or the Seller, as the case may be, under this Section 5.01(g) exceed $7,500 per annum;

     (h) permit and cause each Person to which it delegates any of its duties under the Facility
Documents to permit the Purchaser, the Program Agent or any Permitted Designee to, upon reasonable
advance notice and during normal business hours, visit and inspect its and such Person’s books,
records and accounts relating to the Receivables, the Collections and Related Collections in
respect thereto and its and such other Person’s performance under the Facility Documents and to
discuss the foregoing with its and such other Person’s officers, partners, employees and
accountants, all as often as the Purchaser, the Program Agent, any such Permitted Designee may
reasonably request, all at the cost and expense of the requesting party; provided,
however, that if under the terms of any agreement with any Person to whom it delegates any
of its duties hereunder, only the Seller, such Advisor or the Distributor, as the case

13

 

may be, is permitted to visit and inspect such Person’s books, records and accounts, it shall
at the request of the Program Agent or any Permitted Designee, exercise the rights specified in
this Section 5.01(h) on behalf of such requesting parties, as frequently as the terms of any such
agreement permit, but in no event less frequently than annually; provided, further,
however, that so long as no Event of Termination (or event which with the passage of time,
notice or both, would constitute an Event of Termination) shall have occurred and be continuing,
such inspections by the Purchaser, the Program Agent or any Permitted Designee shall be limited to
no more than two per calendar year;

     (i) promptly, at its expense, execute and deliver to the Program Agent and the Purchaser such
further instruments and documents, and take such further action as the Program Agent or the
Purchaser may from time to time reasonably request, in order to further carry out the intent and
purpose of this Agreement and the other Facility Documents and to establish and protect the rights,
interests and remedies created, or intended to be created, hereby and thereby, including, without
limitation, the execution, delivery, recordation and filing of financing statements and
continuation statements under the UCC of any applicable jurisdiction;

     (j) immediately deliver to the Program Agent copies of all notices, requests, agreements,
amendments, supplements, waivers and other documents received or delivered by it under or with
respect to any of the Facility Documents or any Selling Agent’s Agreement to the extent that such
notices, requests, agreements, supplements, waivers and other documents relate to any matter,
change, situation, action or occurrence which gives rise to a reasonable possibility of an Adverse
Effect;

     (k) in the event that, notwithstanding the Irrevocable Payment Instructions it shall receive
any Collections or Related Collections from any Company or the Transfer Agent, promptly upon its
receipt of any such Collections or Related Collections remit the same to the Demand Deposit Account
for further credit to the Collection Account and until such funds are so deposited into the Demand
Deposit Account, ensure that such amounts are not commingled with any other funds;

     (l) promptly notify the Program Agent and the Purchaser of any material adverse change with
respect to its or any of the Seller’s Significant Affiliates’ business, properties (in respect of
properties, other than in the ordinary course of business, as conducted on September 30, 2000),
condition (financial or otherwise), results of operation or prospects since September 30, 2000;

     (m) promptly furnish to the Program Agent such other information as the Program Agent or the
Purchaser may reasonably request;

     (n) subject to its fiduciary obligations, if any, to the Funds and by a change in applicable
law after the date of this Agreement, use its best efforts to discourage any change in the
Fundamental Investment Objectives in respect of any Fund as set forth in Schedule IV hereto, and,
in the event it is unable to use its best efforts as a consequence of its fiduciary obligations to
the Funds or by any such applicable law, it shall, prior to taking any action inconsistent with
such best efforts, or failing to take the action it could otherwise take: (i) notify the Purchaser
and the Program Agent, in writing of the nature of such change, (ii) provide certification by one
of its

14

 

responsible officers that such change is necessary in order to comply with such fiduciary
obligations or by such a change in applicable law, and (iii) unless waived by the Program Agent,
enter into such undertakings as the Program Agent shall request, in form, scope and substance
satisfactory to the Program Agent whereby it will hold the Program Agent and the Purchaser harmless
from any and all losses, costs, expenses and damages sustained as a consequence of any such change
in Fundamental Investment Objectives, except to the extent (A) such change is required solely by a
change in law applicable to such Fund, or (B) to the extent the Purchaser or the Program Agent, as
the case may be, is indemnified for such loss pursuant to any other provision of the Facility
Documents; provided, that notwithstanding the foregoing, changes in such
Fundamental Investment Objectives in respect of any Fund as set forth in Schedule IV hereto may be
made with the prior written consent of the Program Agent;

     (o) use its best efforts to cause each Company to comply with all Applicable Law;

     (p) subject to its fiduciary obligations, if any, to the Funds, use its best efforts to obtain
the approval of the Board of Trustees of each Company in respect of Shares of each Fund to:
(a) annually re-approve the Distribution Plan and the Underwriting Agreement relating to each Fund
(if necessary in order to continue payments in respect of the Purchased Receivables relating to
each such Fund) and its practices with respect thereto by each Company as of the date of this
Agreement, and (b) in the event any of the foregoing shall be terminated with respect to any such
Fund, to approve a new distribution plan and distribution agreement between the Distributor and
each Company in respect of such Fund so as to permit the continued payments in respect of the
Purchased Receivables relating to such Fund as though no such termination had occurred and in the
event that it is unable to use its best efforts as a consequence of such fiduciary obligations to
the Funds, it shall, prior to taking any action inconsistent with such best efforts, or failing to
take any action it could otherwise take: (i) notify the Purchaser and the Program Agent in writing
of the nature of such failure to use its best efforts, and (ii) provide certification by a
responsible officer of the Seller that such failure to use its best efforts is required in order to
comply with such fiduciary obligations;

     (q) provide prompt written notice to the Program Agent of any action by its Board of Trustees,
or officers or the Board of Trustees of any Company, to make or propose any modification, amendment
or supplement to, or any waiver of any provisions of, or any termination of, any Distribution Plan,
any Advisory Agreement, any CDSC arrangement, any Underwriting Agreement, any Prospectus (other
than modifications to the Prospectuses which neither affect the CDSC arrangement, the Fundamental
Investment Objectives as reflected in Schedule IV hereto or otherwise give rise to a reasonable
possibility of an Adverse Effect) or the Fundamental Investment Objectives of any Company with
respect thereto, each as in effect on the date of this Agreement (or as hereafter modified,
amended, waived or supplemented with the written consent of the Program Agent), or any
modification, amendment, supplement or waiver in the amounts payable or actually being paid
thereunder in respect of the Receivables, each as in effect on the date of this Agreement, or if a
new distribution plan, advisory agreement, contingent deferred sales charge arrangement, prospectus
or underwriting agreement is proposed to be approved and entered into, provide the Program Agent
with copies of any such proposed modification, amendment, supplement or waiver, as adopted, and a
newly adopted distribution plan, contingent deferred sales charge arrangement, advisory agreement
or underwriting

15

 

agreement promptly after such proposal, modification, amendment, supplement, waiver or
adoption has been made;

     (r) use its best efforts to keep each Irrevocable Payment Instruction in full force and
effect;

     (s) take all action necessary to protect and perfect the Purchaser’s first priority ownership
interest in the Purchased Receivables and the Collections in respect thereof, free and clear of all
Adverse Claims;

     (t) (i) cause or ensure that all information (other than information prepared by an
Unaffiliated Agent) provided in writing to the Purchaser, the Program Agent or any other Person for
purposes of or in connection with this Agreement or any other Facility Document or the transactions
contemplated hereby or thereby by it, any of its Affiliates, the Transfer Agent, each Sub-transfer
Agent, each of its agents, representatives, officers, employees, auditors or counsel (or any other
Person at its request, its agents, representatives, officers, employees, auditors or counsel) is,
and all such information hereafter provided in writing by any such Person to the Purchaser, the
Program Agent or any other Person to be true, correct and complete in all material respects on the
date such information is stated or certified and ensure that no information contains, or will
contain, any material misrepresentation or any omission to state therein matters necessary to make
the statements made therein not misleading in any material respect, and (ii) use its best efforts
to cause or ensure that all information provided in writing to the Purchaser, the Program Agent for
purposes of or in connection with this Agreement or any other Facility Document or the transactions
contemplated hereby or thereby which is prepared by each Unaffiliated Agent is, and all such
information hereafter provided in writing to the Purchaser, the Program Agent or any other Person
will be true, correct and complete in all material respects on the date such information is stated
or certified and use its best efforts to ensure that no such information contains, or will contain,
any material misrepresentation or any omission to state therein matters necessary to make the
statements made therein not misleading in any material respect;

     (u) in respect of each Advisor, manage each Fund for which it acts as investment advisor in
accordance with the fundamental investment objectives and policies in respect of such Fund as
reflected in the most current Prospectus for each Fund; and

     (v) cause and ensure that all actions, which the opinion of Ballard Spahr Andrews & Ingersoll,
LLP dated on or about the date hereof on certain bankruptcy matters including “true sale” assumes
will be taken or not taken by it, will be taken or not taken by it.

     Section 5.02. Negative Covenants of the Seller, the Distributor and each Advisor. 

     The Seller, the Distributor and each Advisor covenants and agrees that it shall not:

     (a) permit to exist any Adverse Claims on, or otherwise attempt to transfer any interest in,
any Receivables, any Ancillary Rights in respect thereto, the Collections or Related Collections or
the Seller’s Class A and C CDSC Portion or any interest in any of the foregoing; provided,
however, that in the event that the Purchaser shall determine not to purchase certain
Receivables relating to Shares of any Fund or the Seller determines to sell or pledge the

16

 

Seller’s Class A and C CDSC Portion, the Seller may transfer all or a portion of its interest
in such Receivables and the Ancillary Rights with respect thereto to another Person provided each
of the following conditions are met: (1) that such Person, the Program Agent and the Purchaser
shall have entered into a mutually satisfactory intercreditor agreement and amendment to the
Collection Agency Agreement as contemplated by Section 15(a) thereof, and (2) the Program Agent
shall have received such certificates and opinions as it may reasonably request in connection
therewith all in form, scope and substance reasonably satisfactory to the Program Agent;

     (b) in respect of the Seller and the Distributor, change its jurisdiction of incorporation
from the jurisdiction specified in Section 4.02(d) or 4.03(d), as applicable, or move its principal
executive office or the place where it keeps its records concerning the Purchased Receivables from
the offices specified in Sections 4.02(d) or 4.03(d) or Schedule VII, as applicable, unless (a) it
shall have given to the Program Agent and the Purchaser not less than twenty (20) days prior
written notice of its intention to do so, clearly describing the new jurisdiction or new location
and (b) it shall have taken such action, satisfactory to the Program Agent and the Purchaser, to
maintain the title or ownership of the Purchaser in the Purchased Receivables and the Ancillary
Rights with respect thereto at all times fully perfected and in full force and effect;

     (c) without the prior written consent of the Program Agent, amend, waive, terminate or
otherwise modify the terms of any Irrevocable Payment Instruction or the Transfer Agreement or take
any action inconsistent with any Irrevocable Payment Instruction or the Transfer Agreement;
provided, that it may, without the consent of the Program Agent (but with prompt written
notice to the Program Agent), amend Schedule I to the Irrevocable Payment Instruction solely to add
an Additional Eligible Fund to such Schedule in accordance with Section 2.03;

     (d) until the Program Termination Date, change its operations in a manner which could give
rise to a reasonable possibility of an Adverse Effect, without the prior written consent of the
Program Agent;

     (e) reflect the Purchased Receivables or Collections in respect thereto as being owned by it
or any of its Affiliates;

     (f) upon the occurrence of a Complete Termination (as defined in the Distribution Plan in
effect on the date hereof) in respect of Shares of any Fund, directly or indirectly compensate the
Distributor or any other Person for any services for which the Service Fee for such terminated Fund
were intended to compensate the Distributor;

     (g) (i) cancel, terminate, amend, modify, supplement or waive any term or condition of any
Underwriting Agreement, any Distribution Plan, any Advisory Agreement, any Fundamental Investment
Objectives, or the CDSC obligations of any holders of Shares of any Fund, each as in effect on the
date hereof (or as hereafter modified, amended or supplemented with the written consent of the
Program Agent) (other than to permit Free Redemptions as contemplated by the Prospectus of such
Fund in effect on the date hereof (or as hereafter modified, amended or supplemented with the
written consent of the Program Agent)), except

17

 

with the prior written consent of the Program Agent; provided, that with respect to
the Advisory Agreements, the consent of the Program Agent shall only be required in connection with
any such amendment, modification or waiver to the extent the same gives rise to a reasonable
possibility of an Adverse Effect, (ii) take any action designed to permit any Company to do so,
(iii) undertake any actions that are inconsistent with a program to maintain each Distribution
Plan, each CDSC arrangement, any Irrevocable Payment Instruction, each Underwriting Agreement and
the practices of any Company in respect thereof, each as in effect on the date hereof (or as
hereafter modified, amended or supplemented with the written consent of the Program Agent) in full
force and effect as they exist on the date of this Agreement and to maintain good relations with
each Company and the Board of Trustees of each Company, or (iv) without limiting the generality of
the foregoing, take any action or omit to take any action (other than redemptions of Shares in the
ordinary course of business as contemplated by the Prospectus for each Fund in effect on the date
of this Agreement) that could with respect to clauses (i), (ii), (iii) or (iv) of this Section
5.02(g), result in either (A) the aggregate Sales Charge paid or payable by any Company in respect
of the sales of Shares of any Fund being less than the Maximum Aggregate Sales Charge Allowable
(including interest thereon at the Maximum Interest Allowable) which, as of the last date upon
which Receivables are purchased by the Purchaser under the Purchase Agreement, is equal to not less
than the sum of 6.25% of the total Issue Price of the Shares of such fund sold during such period,
plus interest thereon at the prime rate in effect plus one percent (1%) per annum, (B) the amount
in clause (A) above accruing less frequently than daily or being payable in installments less
frequently than monthly or in amounts which are less on the average than the daily equivalent of
        .75% per annum of the average daily Net Asset Value, or (C) otherwise could give rise to a
reasonable possibility of an Adverse Effect;

     (h) except as a result of a Permitted Change in Control, or as specifically consented to in
writing by the Program Agent: (i) sell or otherwise dispose of all or a substantial portion of its
assets, (ii) consolidate with or merge into any other entity, or (iii) acquire all or substantially
all of the assets of another Person, if any such actions gives rise to a reasonable possibility of
an Adverse Effect;

     (i) permit the record ownership on the records of the Transfer Agent of any Share of any Fund
to be in the name of any Sub-transfer Agent’s street account, unless (w) such Sub-transfer Agent
for such Omnibus Shares has tracking capabilities, procedures and reporting practices sufficient to
allocate Collections and Related Collections in respect of such Omnibus Shares as contemplated by
the Allocation Procedures, (x) the Program Agent shall have approved in writing the form of the
Sub-transfer Agent Report of such Sub-transfer Agent which sets forth the methodology to be used by
such Sub-transfer Agent to allocate Shares as contemplated by the Allocation Procedures, (y) if
such Sub-transfer Agent is not a Specified Sub-transfer Agent, such Sub-transfer Agent will, no
later than the second (2nd) Business Day following the end of the calendar week in which
Shares held in its Omnibus Account are redeemed, remit such CDSCs to the Demand Deposit Account in
accordance with the applicable Irrevocable Payment Instruction, and (z) if such Sub-transfer Agent
is a Specified Sub-transfer Agent, such Sub-transfer Agent will, no later than the tenth
(10th) Business Day of the calendar month next following the calendar month in which the
Shares relating to such CDSCs were redeemed, remit all CDSCs in respect of the Omnibus Shares in
its related Omnibus Account to the Demand Deposit Account in accordance with the applicable
Irrevocable Payment Instruction;

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     Section 5.03. Additional Covenants of the Seller.

     The Seller covenants and agrees that it shall:

     (a) keep proper books of record and account in accordance with its normal business practice in
which full and appropriate entries shall be made of all dealings or transactions in relation to its
business and activities and shall mark its data processing or other records, if any, so as to
clearly indicate that the Purchased Receivables and the Ancillary Rights in respect thereto have
been sold to the Purchaser;

	 	(b)	 	furnish to the Program Agent and the Purchaser:
	 
	 	(A)	 	annually within 150 days after the end of each fiscal
year: (i) unaudited consolidated financial statements of the Seller
and its respective subsidiaries prepared in accordance with GAAP for
such fiscal year, (ii) audited consolidated financial statements of
AMVESCAP plc and its respective subsidiaries (including the Seller,
each Advisor and the Distributor) prepared in accordance with generally
accepted accounting principles in the United Kingdom for such fiscal
year, and (iii) unaudited balance sheets of each Advisor and the
Distributor if not included in clause (i) above, prepared in accordance
with GAAP for such fiscal year and, in any event, an unaudited income
statement and balance sheet of each Advisor and the Distributor
prepared in accordance with GAAP for such year; and
	 
	 	(B)	 	promptly upon preparation, copies of the semi-annual
unaudited reports and annual audited reports of each Company;

     (c) use the Purchase Prices paid to it on each Purchase Date hereunder solely for the purpose
of purchasing Receivables or for reimbursing itself for the purchase price of the Receivables
purchased under the Transfer Agreement pursuant to and in accordance with the terms of the Transfer
Agreement; provided, that the Seller shall be entitled to retain the profit resulting from
any difference between the purchase price paid to the Seller for the Receivables and the purchase
price paid by the Seller for the Receivables;

     (d) on the second Business Day following remittance to the Collection Account of the Seller’s
Class A and C CDSC Portion, notify the Collection Agent and the Program Agent in writing of the
amount thereof by telefax or electronic mail and instruct the Collection Agent to immediately remit
such amount to the Seller’s Account;

     (e) treat each transfer of Receivables and the Ancillary Rights with respect thereto pursuant
to this Agreement as a sale and not as a secured loan on its financial statements, books and
records and tax returns, including without limitation its United States federal income tax returns,
except to the extent such treatment is prohibited by a change in Applicable Law after the date
hereof;

19

 

     (f) cause each other Person acting on its behalf or as its agent to keep such books, records,
accounts and other information, as Persons carrying out similar functions typically maintain, so as
to verify and document its compliance with its obligations under the Facility Documents; and

     (g) not sell any Receivables to the Purchaser if, as of the Calculation Date relating to the
calendar month immediately preceding the Purchase Date upon which such Receivables are to be sold,
the Weighted Average Percentage Decline in the Net Asset Value of Shares of all Funds (adjusted for
stock splits and excluding declines in the Net Asset Value resulting from the payment of Normal
Distributions) from the end of the immediately preceding calendar month shall not be twenty-five
percent (25%) or more, unless the aggregate Net Asset Value of Shares of the Funds relating to
Purchased Receivables shall thereafter rise to a level of at least seventy-six percent (76%) of the
aggregate Net Asset Value of Shares of the Funds as of the Calculation Date immediately preceding
the Calculation Date that the condition specified in this clause (g) was not satisfied and was not
subsequently complied with.

     Section 5.04. Additional Covenants of the Distributor.

     The Distributor covenants and agrees that it shall:

     (a) use its best efforts to cause each Selling Agent to duly fulfill all obligations on such
Selling Agent’s part to be performed under or in connection with this Agreement, the Underwriting
Agreements, the Distribution Plans and the other Facility Documents, the non-performance of which
gives rise to a reasonable possibility of an Adverse Effect;

     (b) keep proper books of record and account in accordance with its normal business practice in
which full and appropriate entries shall be made of all dealings or transactions in relation to its
business and activities and shall mark its data processing or other records, if any, so as to
clearly indicate that the Purchased Receivables have been sold to the Seller;

     (c) promptly (i) notify the Program Agent in writing of all filings with the SEC, any report
on Form N-SAR (or successor form), any registration statement on Form N-1A (or successor form), any
prospectus, any statement of additional information or any amendment or supplement to any of the
foregoing of each Fund, all proxy statements and all other notices (out of the ordinary course) to
shareholders of any Company or any Fund and any other filings (out of the ordinary course) made by
any Company in respect of any Fund, and (ii) to the extent the same are not readily obtainable by
the Program Agent through the Securities and Exchange Commission’s Electronic Data Gathering,
Analysis and Retrieval system or other public on-line sources, deliver to the Program Agent copies
of such filings and mailings; and

     (d) treat each transfer of Receivables pursuant to the Transfer Agreement as a sale and not as
a secured loan on its financial statements, books and records and tax returns, including without
limitation its United States federal income tax returns, except to the extent such treatment is
prohibited by a change in Applicable Law after the date hereof;

20

 

     (e) ensure that (A) the tracking capabilities of the Distributor, each Company and each
Transfer Agent and each Sub-transfer Agent for each Fund are sufficient to: (i) track which
Receivables constitute Purchased Receivables and the Shares in respect thereto as contemplated by
the Allocation Procedures, and (ii) to allocate Collections and Related Collections in accordance
with this Agreement (including the Allocation Procedures) and the Collection Agency Agreement,
(B) that all CDSCs are remitted to the Demand Deposit Account in accordance with the Irrevocable
Payment Instructions, and (C) the Transfer Agent in respect of each Fund is party to the
Irrevocable Payment Instruction with the Company in respect of such Fund;

     (f) exercise on behalf of the Purchaser all of the rights under the Underwriting Agreements,
the Distribution Plans, each Irrevocable Payment Instruction, the Transfer Agreement and at law or
equity to cause each Company and the Transfer Agent to pay to the Demand Deposit Account for
further credit to the Collection Account all amounts due from each Company or the holders of the
Shares in respect of the Purchased Receivables in accordance with the applicable Irrevocable
Payment Instruction; (ii) assist the Servicer in investigating delinquencies in the payment of
Collections by any Company and the Transfer Agent; (iii) respond to inquiries of the Purchaser and
the Program Agent relating to the Purchased Receivables and each Company’s and the Transfer Agent’s
performance under the Facility Documents; and (iv) assist the Servicer in enforcement of the
Purchaser’s rights with respect to the Purchased Receivables and the Ancillary Rights with respect
thereto;

     (g) maintain its net capital at such levels as are required by Applicable Law;

     (h) cause each other Person acting on its behalf or as its agent to keep such books, records,
accounts and other information, as Persons carrying out similar functions typically maintain, so as
to verify and document its compliance with its obligations under the Facility Documents; and

     (i) use its best efforts to cause (a) each Sub-transfer Agent (other than a Specified
Sub-transfer Agent), no later than the second (2nd) Business Day following the end of
the calendar week in which Shares held in such Sub-transfer Agent’s Omnibus Account are redeemed,
to remit such CDSCs to the Demand Deposit Account in accordance with the applicable Irrevocable
Payment Instruction, and (b) each Specified Sub-transfer Agent, no later than the tenth
(10th) Business Day of the calendar month next following the calendar month in which the
Shares relating to such CDSCs were redeemed, to remit all CDSCs in respect of the Omnibus Shares in
such Sub-transfer Agent’s Omnibus Account to the Demand Deposit Account in accordance with the
applicable Irrevocable Payment Instruction.

ARTICLE VI

EVENTS OF TERMINATION

     Section 6.01. Events of Termination.

     If any of the following events (each an “Event of Termination”) shall occur:

     (a) the Distributor, the Seller (as Servicer or otherwise), any Advisor, the Transfer Agent,
any Sub-transfer Agent or any Company shall fail to make or cause to be made

21

 

in the manner and when due any payment or deposit to be made or to be caused to be made by it
under this Agreement or any of the other Facility Documents and such failure shall continue for
three (3) Business Days; or

     (b) the Distributor, the Seller (as Servicer or otherwise), any Advisor, the Transfer Agent or
any Sub-transfer Agent shall fail to perform or observe any covenant or agreement on its part to be
performed or observed under any Facility Document (other than those described in clause (a) of this
Section 6.01) and such failure shall continue for three (3) Business Days; provided, that
in respect of any Sub-transfer Agent such failure gives rise to a reasonable possibility of an
Adverse Effect; or

     (c) (i) any representation or warranty made or deemed made by the Distributor, the Seller (as
Servicer or otherwise), any Advisor (or any of their respective officers) under or in connection
with any Facility Document shall have been incorrect in any material respect when made or deemed
made, or (ii) any Purchaser Report, Transfer Agent Report, Sub-transfer Agent Report (including
without limitation any Transfer Agent Report or Sub-transfer Agent Report prepared by any
Unaffiliated Agent) or any other statement, certificate or report delivered by or on behalf of the
Distributor or the Seller (as Servicer or otherwise) in connection with this Agreement or any other
Facility Document, shall have been false, incorrect or misleading in any material respect when
delivered; or

     (d) the Seller, any Advisor or any of their Significant Affiliates shall fail to pay, any
amount in respect of any of its Debt in excess of $10,000,000, when the same becomes due and
payable, or there shall occur any default by the Seller, any Advisor or any such Significant
Affiliate which results or could result in any of its Debt in excess of $10,000,000 being declared
due and payable prior to its stated maturity date or due date; or

     (e) (i) the Purchaser shall cease to have a 100% undivided ownership interest in any Purchased
Receivable, the Ancillary Rights with respect thereto and the Collections in respect thereto, free
and clear of any Adverse Claim, or (ii) any purchase of Receivables and the Collections in respect
thereto by the Seller pursuant to the Transfer Agreement or the Purchaser pursuant to this
Agreement shall for any reason not constitute a True Sale thereof; or

     (f) (i) the Seller, any Advisor or any of their Significant Affiliates shall generally not pay
its Debts as such Debts become due, or shall admit in writing its inability to pay its Debts
generally, or shall make a general assignment for the benefit of creditors or in the case of the
Distributor, the Distributor shall otherwise become “insolvent” within the meaning of SIPA; or
(ii) any proceeding shall be instituted by or against the Seller, any Advisor or any such
Significant Affiliate seeking to adjudicate it a bankrupt or insolvent, or seeking liquidation,
winding up, reorganization, arrangement, adjustment, protection, relief, or composition of it or
its Debts under any Law relating to bankruptcy, insolvency or reorganization or relief of debtors,
or seeking the entry of an order for relief or the appointment of a receiver, trustee, custodian or
other similar official for it or for any substantial part of its property and, in the case of any
such proceeding instituted against it (but not instituted by it), either such proceeding shall
remain undismissed or unstayed for a period of fifteen (15) days; or (iii) any of the actions
sought in any proceeding described in (ii) above (including an order for relief against, or the
appointment of a receiver, trustee, custodian or other similar official for, it or for any
substantial part of its

22

 

property) shall occur; or (iv) the Seller, any Advisor or any such Significant Affiliate shall
take any action to authorize any of the actions set forth above in this Section 6.01(f); or

     (g) there shall have occurred any material adverse change in (i) the financial condition of
the Seller, the Distributor, any Advisor or each Company since September 30, 2000; or (ii) the
Seller’s, the Distributor’s or each Company’s operations as they relate to their respective
abilities to perform their obligations under any Facility Document, or which gives rise to a
reasonable possibility of an Adverse Effect; or

     (h) any Underwriting Agreement, any Advisory Agreement, any Distribution Plan, any Fundamental
Investment Objectives, the CDSC arrangements applicable to holders of Shares of any Fund or the
terms of any Conversion Feature in respect of any Share of any Fund, each as in effect on the date
of this Agreement (or as hereafter modified, amended, waived or supplemented with the written
consent of the Program Agent), shall be amended, waived, supplemented or modified, in a manner or
by any means (including a change in Applicable Law) which, in the reasonable opinion of the Program
Agent, could give rise to a reasonable possibility of an Adverse Effect, including, but not limited
to (a) any change which could result in the aggregate Sales Charge paid or payable by the
applicable Company in respect of the Shares of such Fund being less than the Maximum Aggregate
Sales Charge Allowable as of the date hereof or (b) any change to or modification or waiver of the
CDSC arrangements or Conversion Feature arrangements in respect of Shares of such Fund as in effect
on the date of this Agreement (or as hereafter modified, amended or supplemented with the written
consent of the Program Agent), or (c) any change in the Fundamental Investment Objectives as
reflected in Schedule IV hereto in respect of Shares of any Fund; or

     (i) any Underwriting Agreement, any Distribution Plan, any Advisory Agreement or any CDSC
arrangement applicable to holders of Shares of any Fund, in each case as in effect on the date of
this Agreement (or as hereafter modified, amended, waived or supplemented with the written consent
of the Program Agent), shall be terminated, no longer enforceable, or be otherwise ineffective, in
whole or in part, for any reason, whether voluntarily or involuntarily, including without
limitation by any Authority or as a result of any change in Applicable Law, unless (x) in respect
of the applicable Fund a replacement Underwriting Agreement, Distribution Plan or Advisory
Agreement, as the case may be, has become effective and which has terms, in the reasonable opinion
of the Program Agent at least as favorable to the Distributor, the applicable Advisor and the
Purchaser, as the Underwriting Agreement, the Distribution Plan or the Advisory Agreement, as the
case may be, each as in effect on the date of this Agreement (or as hereafter modified, amended or
supplemented with the written consent of the Program Agent), including, without limitation, in
respect of the timing and amount payable in respect of the Purchased Receivables relating to such
Fund as described in clause (h) above, and (y) no reasonable possibility of an Adverse Effect shall
arise as a result thereof; or

     (j) except as a result of a Permitted Change in Control, the Seller shall cease to own
directly or indirectly a majority of the issued and outstanding stock and a majority of the voting
securities of the Distributor; or

23

 

     (k) the Securities Investor Protection Corporation, established under SIPA, shall have applied
for a protective decree against the Distributor and the Distributor shall have failed to obtain a
dismissal of such application within thirty (30) days after such application; or

     (l) the SEC shall have revoked the broker/dealer registration of the Distributor; or

     (m) the Distributor shall have failed to meet the minimum capital requirements prescribed from
time to time by Rule 15c3-1 under the Exchange Act and such failure is not cured within thirty (30)
days after such failure, it being understood that a determination by a relevant Authority shall not
be deemed conclusive evidence of such failure so long as the Distributor is diligently contesting
such determination in good faith by appropriate proceedings; or

     (n) the SEC or any other Authority shall have modified or terminated or shall propose to
modify, revoke, repeal or terminate Rule 12b-1 of the Investment Company Act or the Conduct Rules
in a manner which gives rise to a reasonable possibility of an Adverse Effect; or

     (o) the Distributor shall cease to be registered as a broker/dealer under the Exchange Act and
with the NASD or any Advisor shall cease to be registered as an investment advisor under the
Investment Advisers Act; or

     (p) any Company, any Transfer Agent or any Sub-transfer Agent shall fail to make or cause to
be made in a timely manner any payment or deposit required to be made under any Distribution Plan,
Underwriting Agreement or any Irrevocable Payment Instruction, or any Company or the Transfer Agent
shall fail to withhold from redemption proceeds paid to any holder of a Share any CDSCs required to
be withheld and remit such funds to the Demand Deposit Account for further credit to the Collection
Account in accordance with any Irrevocable Payment Instruction and such failure shall continue for
three (3) Business Days, or any such Person shall be prevented by any Authority or by any
Applicable Law from doing so or any Company, the Transfer Agent or Sub-transfer Agent shall so
assert in writing; or

     (q) each Company shall be required by any Authority or any Applicable Law to suspend the sale
of Shares of any Fund under circumstances that gives rise to a reasonable possibility of an Adverse
Effect; or

     (r) each Company shall cease to regularly offer Shares of any Fund to the public under
circumstances that gives rise to a reasonable possibility of an Adverse Effect; or

     (s) except as a result of a Permitted Change in Control, either AAI or IFG, as the case may be
(or any successor advisor resulting from a Permitted Change in Control) shall cease to act as the
investment advisor of any Fund under the applicable Advisory Agreement; or

     (t) except as a result of a Permitted Change in Control or as specifically consented to in
writing by the Program Agent, the Seller, any Advisor or the Distributor, as the case may be, shall
(i) sell or otherwise dispose of all or a substantial portion of its assets, (ii) consolidate with
or merge into any other entity, or (iii) acquire all or substantially all of the

24

 

assets of another Person, unless the assets acquired are less than twenty-five percent (25%)
of the assets of the Seller, such Advisor or the Distributor, as the case may be;

then in respect of any occurrence of any such event, the Program Agent may in respect of each such
occurrence, by notice to the Seller to be given within ninety (90) days of the Program Agent’s
receipt of notice of occurrence of each such event, declare the Termination Date to have occurred
(in which case the Termination Date shall be deemed to have occurred); provided, that, upon
the occurrence of any event (without any requirement for the giving of notice) described in
subsection (f) or (k) of this Section 6.01, the Termination Date shall be deemed automatically to
have occurred. Notwithstanding the foregoing, if an Event of Termination shall have occurred as a
result of a breach of Section 4.01(k) or Section 5.01(t) and such breach relates solely to the
information prepared by a Sub-transfer Agent that constitutes an Unaffiliated Agent (the “Affected
Sub-transfer Agent”), then (i) the Purchaser and the Program Agent, at the request of the Seller,
hereby agree to negotiate in good faith to amend this Agreement, the Collection Agency Agreement
and the Allocation Procedures to the extent necessary so as to permit the continued purchase of
Receivables which do not relate to such Affected Sub-transfer Agent, and (ii) the Program Agent
agrees that it shall not declare the Termination Date to have occurred as a result of any such
breach if either (A) the amendments referred to in clause (i) above have been agreed upon by the
Program Agent and the Seller within thirty (30) days after the Seller has knowledge of any such
breach, or (B) the Seller shall have demonstrated to the reasonable satisfaction of the Program
Agent (to be evidenced by written confirmation from the Program Agent), within thirty (30) days
after the Seller has knowledge of any such breach, that the systems, procedures and/or reporting
practices of the Affected Sub-transfer Agent have been modified so as to avoid further breaches
relating to the information to be prepared by such Affected Sub-transfer Agent.

ARTICLE VII

THE PROGRAM AGENT

     Section 7.01. Authorization and Action.

     The Purchaser hereby irrevocably appoints and authorizes the Program Agent to take such action
as agent on its behalf and to exercise such powers under this Agreement, and the other Facility
Documents as are delegated to the Program Agent by the terms hereof and thereof, together with such
powers as are reasonably incidental thereto. As to any matters not expressly provided for by this
Agreement or the other Facility Documents, the Program Agent shall not be required to exercise any
discretion or take any action, but shall be required to act or to refrain from acting (and shall be
fully protected in so acting or refraining from acting) upon the instructions of the Purchaser;
provided, however, that the Program Agent shall not be required to take any action
which exposes the Program Agent to personal liability or which is contrary to this Agreement, the
other Program Documents or Applicable Law.

     Section 7.02. Program Agent’s Reliance, Etc.

     Neither the Program Agent nor any of its directors, officers, agents or employees shall be
liable for any action taken or omitted to be taken by it or them under or in connection with this
Agreement or any of the other Program Documents, except for its or their own gross

25

 

negligence or willful misconduct. Without limiting the generality of the foregoing, the
Program Agent: (i) may consult with legal counsel (including counsel for the Seller, the
Distributor or any Advisor), independent public accountants and other experts selected by it and
shall not be liable for any action taken or omitted to be taken in good faith by it in accordance
with the advice of such counsel, accountants or experts; (ii) makes no warranty or representation
to the Purchaser and shall not be responsible to the Purchaser for any statements, warranties or
representations (whether written or oral) made in or in connection with this Agreement or the other
Program Documents; (iii) shall not have any duty to ascertain or to inquire as to the performance
or observance of any of the terms, covenants or conditions of this Agreement or the other Program
Documents on the part of the Seller (as Servicer or otherwise), the Distributor or any Advisor or
to inspect the property (including the books and records) of the Seller, the Distributor or any
Advisor; (iv) shall not be responsible to the Purchaser for the due execution, legality, validity,
enforceability, genuineness, sufficiency or value of this Agreement, the other Program Documents or
any other instrument or document furnished pursuant hereto or thereto; and (v) shall incur no
liability under or in respect of this Agreement or any other Program Document by acting upon any
notice, consent, certificate or other instrument or writing (which may be by telecopier, telegram,
cable or telex or as otherwise specified in Section 9.03) believed by it to be genuine and signed
or sent by the proper party or parties.

     Section 7.03. Indemnification.

     The Purchaser agrees to indemnify the Program Agent (to the extent not reimbursed by or on
behalf of the Seller) from and against any and all liabilities, obligations, losses, damages,
penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or nature
whatsoever which may be imposed on, incurred by, or asserted against the Program Agent in any way
relating to or arising out of this Agreement or any other Program Document or any action taken or
omitted by the Program Agent under this Agreement or any other Program Document; provided,
that the Purchaser shall not be liable for any portion of such liabilities, obligations,
losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements resulting
from the gross negligence or willful misconduct of the Program Agent. Without limitation of the
foregoing, the Purchaser agrees to reimburse the Program Agent promptly upon demand for any
out-of-pocket expenses (including counsel fees) incurred by the Program Agent in connection with
the preparation, execution, delivery, administration, modification, amendment or enforcement
(whether through negotiations, legal proceedings or otherwise) or legal advice in respect of rights
or responsibilities under this Agreement or the other Program Documents, to the extent that the
Program Agent is not reimbursed for such expenses by or on behalf of the Seller.

     Section 7.04. Rights of the Program Agent.

     The Seller hereby agrees that the Program Agent is hereby authorized to deliver an Allocation
Notice to the Collection Agent (i) upon the occurrence of any Event of Termination (or event which
with the passage of time or notice, or both, would constitute an Event of Termination) which
relates to the Seller, the Distributor, any Advisor or any Significant Affiliate, or (ii) at any
time that the Program Agent in its sole discretion believes that the event contemplated in Section
6.01(f) could occur in respect of the Seller, the Distributor, any Advisor or any of their
Significant Affiliates.

26

 

ARTICLE VIII

     Section 8.01. Undertakings; Payment of Damages.

     The Seller hereby irrevocably and unconditionally agrees for the benefit of (i) the Purchaser
and the Program Agent, and (ii) in respect of the obligations of the Distributor, the Transfer
Agent and each Advisor under the Facility Documents to cause the Distributor, the Transfer Agent
and each Advisor to perform and punctually and completely carry out each and every covenant of the
Distributor, such Advisor and the Transfer Agent under this Agreement, the Transfer Agreement, the
Servicing Agreement and each other Facility Document in accordance with the terms thereof.

     Section 8.02. Agreement Not Affected.

     The Purchaser and the Program Agent may proceed to exercise any right or remedy which it might
have pursuant to this Article VIII without regard to any actions or omissions of the Purchaser, the
Program Agent or any other Person. The validity of this Article VIII shall not be affected by any
action or inaction which may be taken under or in respect of any Program Document. The Purchaser
and the Program Agent at its option may proceed in the first instance against the Seller to obtain
a remedy under any Program Document in the amount and in the manner set forth in such Program
Document, without being obliged to resort first to any claim or action against the Distributor, any
Advisor or the Transfer Agent.

     Section 8.03. Waiver of Notice; No Offset; No Subrogation.

     The Seller hereby waives any and all notices or demands to which it may otherwise be entitled
in connection with the pursuit of any remedy hereunder, under any other Facility Document or, to
the extent permitted under Applicable Law; provided, that this sentence shall not
constitute a waiver on behalf of the Distributor, any Advisor or the Transfer Agent of any notice
or demand to which the Distributor, any Advisor or the Transfer Agent is entitled under the
Facility Documents. The obligations of the Seller under this Article VIII shall not be subject to
any defense, counterclaim or right of offset which the Seller, the Distributor, any Advisor or any
other Person has or may have against the Purchaser, the Program Agent or any other Person, whether
in respect of this Agreement, any other Facility Document, any Purchased Receivables or otherwise,
but nothing herein shall limit the right of the Seller to pursue any claim in a separate action.

ARTICLE IX

MISCELLANEOUS

     Section 9.01. No Waiver; Modifications in Writing. 

     No failure or delay on the part of the Program Agent or the Purchaser exercising any right,
power or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial
exercise of any such right, power or remedy preclude any other or further exercise thereof or the
exercise of any other right, power or remedy. The remedies provided for herein are cumulative and
are not exclusive of any remedies that may be available to the Program Agent and the Purchaser, at
law or in equity. No amendment, modification, supplement, termination or

27

 

waiver of this Agreement shall be effective unless the same shall be in writing and signed by
each of the parties hereto. Any waiver of any provision of this Agreement, and any consent to any
departure by any party to this Agreement from the terms of any provision of this Agreement, shall
be effective only in the specific instance and for the specific purpose for which given. No notice
to or demand on any party to this Agreement in any case shall entitle the Seller, any Advisor or
the Distributor to any other or further notice or demand in similar or other circumstances.

          Section 9.02. Payment.

          Unless otherwise provided herein, whenever any payment to be made hereunder shall be due on a
non-Business Day, such payment shall be made on the next succeeding Business Day. All amounts
owing and payable by the Seller, any Advisor or the Distributor to the Purchaser or the Program
Agent under this Agreement shall be paid in immediately available funds without counterclaim,
setoff, deduction, defense, abatement, suspension or deferment, but nothing herein shall limit the
right of the Seller, any Advisor or the Distributor to pursue any claim in a separate action. Each
of the Seller, any Advisor and the Distributor hereby agrees to pay interest on any amounts payable
by it under this Agreement, which shall not be paid in full when due, for the period commencing on
the due date thereof until, but not including, the date the same is paid in full at the
Post-Default Rate. For purposes of calculating the Post-Default Rate Interest, any amount received
by or on behalf of the Purchaser or the Program Agent after 3:00 p.m. (New York City time) shall be
deemed to have been received on the next succeeding Business Day.

          Section 9.03. Notices, Etc.

          (a) Except as expressly provided in this Agreement, all notices, demands, instructions and
other communications required or permitted to be given to or made upon any party hereto shall be in
writing and shall be personally delivered or sent by registered, certified or express mail, postage
prepaid, or by prepaid telegram (with messenger delivery specified in the case of a telegram), or
by telecopier, or by prepaid courier service. Unless otherwise specified in a notice sent or
delivered in accordance with the foregoing provisions of this Section 9.03, notices, demands,
instructions and other communications in writing shall be given to or made upon the respective
parties hereto at their respective addresses (or to their respective telecopier numbers) indicated
below:

If to the Purchaser:

	 	 	 
	 

	 	Citibank, N.A.
	 

	 	Global Securitized Markets
	 

	 	388 Greenwich Street, 19th Floor
	 

	 	New York, New York 10013
	 

	 	Attention: Mr. Joseph Diamente, B Share Servicing
	 

	 	Telephone No.: (212) 816-0497
	 

	 	Facsimile No.: (212) 816-0336

28

 

If to the Program Agent:

	 	 	 
	 

	 	Citicorp North America, Inc.
	 

	 	Global Securitized Markets
	 

	 	388 Greenwich Street, 19th Floor
	 

	 	New York, New York 10013
	 

	 	Attention: Mr. Joseph Diamente, B Share Servicing
	 

	 	Telephone No.: (212) 816-0497
	 

	 	Facsimile No.: (212) 816-0336

	 	 	 
	With a copy to:

	 	Citicorp North America, Inc.
	 

	 	Global Securitized Markets
	 

	 	450 Mamaroneck Avenue
	 

	 	Harrison, New York 10528
	 

	 	Attention: B Share Servicing
	 

	 	Telephone No.: (914) 899-7137
	 

	 	Facsimile No.: (914) 899-7903
	 
	 	 
	If to the Seller:
	 	 
	 
	 	 
	 

	 	A I M Management Group Inc.
	 

	 	11 Greenway Plaza
	 

	 	Suite 100
	 

	 	Houston, Texas 77046
	 

	 	Attention: Controller
	 

	 	Telephone No.: (713) 626-1919
	 

	 	Facsimile No.: (713) 871-9348
	 
	 	 
	With a copy to:
	 	 
	 
	 	 
	 

	 	11 Greenway Plaza
	 

	 	Suite 100
	 

	 	Houston, Texas 77046
	 

	 	Attention: General Counsel
	 

	 	Telephone No.: (713) 626-1919
	 

	 	Facsimile No.: (713) 993-9185
	 
	 	 
	If to the Distributor:
	 	 
	 
	 	 
	 

	 	A I M Distributors, Inc.
	 

	 	11 Greenway Plaza
	 

	 	Suite 100
	 

	 	Houston, Texas 77046
	 

	 	Attention: General Counsel
	 

	 	Telephone No.: (713) 626-1919
	 

	 	Facsimile No.: (713) 993-9185

29

 

	 	 	 
	With a copy to:
	 	 
	 
	 	 
	 

	 	A I M Distributors, Inc.
	 

	 	11 Greenway Plaza
	 

	 	Suite 100
	 

	 	Houston, Texas 77046
	 

	 	Attention: Controller
	 

	 	Telephone No.: (713) 626-1919
	 

	 	Facsimile No.: (713) 871-9348
	 
	 	 
	If to AAI:
	 	 
	 
	 	 
	 

	 	A I M Advisors, Inc.
	 

	 	11 Greenway Plaza
	 

	 	Suite 100
	 

	 	Houston, TX 77046
	 

	 	Attention: Controller
	 

	 	Telephone No.: (713) 626-1919
	 

	 	Facsimile No.: (713) 871-9348
	 
	 	 
	With a copy to:
	 	 
	 
	 	 
	 

	 	11 Greenway Plaza
	 

	 	Suite 100
	 

	 	Houston, TX 77046
	 

	 	Attention: Controller
	 

	 	Telephone No.: (713) 626-1919
	 

	 	Facsimile No.: (713) 871-9348
	 
	 	 
	If to IFG:
	 	 
	 
	 	 
	 

	 	INVESCO Funds Group, Inc.
	 

	 	7800 East Union Avenue
	 

	 	Mail Stop 201
	 

	 	Denver, Colorado 80237
	 

	 	Attention: Ronald L. Grooms
	 

	 	Telephone No.: (303) 930-6267
	 

	 	Facsimile No.: (303) 930-6307
	 
	 	 
	With a copy to:
	 	 
	 
	 	 
	 

	 	A I M Management Group Inc.
	 

	 	11 Greenway Plaza
	 

	 	Suite 100
	 

	 	Houston, Texas 77046
	 

	 	Attention: Controller
	 

	 	Telephone No.: (713) 626-1919
	 

	 	Facsimile No.: (713) 871-9348
	 
	 	 
	 

	 	A I M Management Group Inc.
	 

	 	11 Greenway Plaza
	 

	 	Suite 100

30

 

	 	 	 
	 

	 	Houston, Texas 77046
	 

	 	Attention: General Counsel
	 

	 	Telephone No.: (713) 626-1919
	 

	 	Facsimile No.: (713) 993-9185

          (b) All notices, demands, consents, requests and other communications to be sent or delivered
hereunder shall be deemed to be given or become effective for all purposes of this Agreement as
follows: (a) when delivered in person, when given; (b) when sent by mail, when received by the
Person to whom it is given, unless it is mailed by registered, certified or express mail, in which
case it shall be deemed given or effective on the earlier of the date of receipt or refusal; and
(c) when sent by telegram, telecopy or other form of rapid transmission shall be deemed to be given
or effective when receipt of such transmission is acknowledged.

          Section 9.04. Costs and Expenses; Indemnification.

          (a) Regardless of whether or not any of the transactions contemplated hereby are actually
consummated, the Seller agrees to promptly pay on demand (i) all reasonable costs and expenses in
connection with the administration and any modification, amendment and waiver of this Agreement,
the Transfer Agreement, the Servicing Agreement and the other Facility Documents, provided,
however, that the Program Agent agrees to pay the reasonable costs associated with any
amendment or modification of the Facility Documents, if such amendment or modification is made upon
the request of the Program Agent, unless such amendment or modification is required or is requested
as a result of a breach by, or by a change in circumstances relating to, the Seller, the
Distributor, any Advisor, any of their Affiliates, any Transfer Agent, any Sub-transfer Agent, any
Company or any Fund or as a result of any Event of Termination (or event which with the giving of
notice or the lapse of time, or both, would constitute an Event of Termination), (ii) all costs and
expenses incurred in connection with the enforcement of, or preservation of, any rights under this
Agreement, the Transfer Agreement, the Servicing Agreement and the other Facility Documents,
(iii) subject to Section 5.01(g), all actuarial fees, UCC filing fees and periodic auditing
expenses in connection with the transactions contemplated by this Agreement, the Transfer
Agreement, the Servicing Agreement and the other Facility Documents, and (iv) all reasonable fees
and disbursements of counsel in connection with the foregoing.

          (b) Indemnification. The Seller agrees to indemnify and hold harmless the Purchaser
(including without limitation any Transferee), the Program Agent, and each of their respective
Affiliates and the respective officers, directors, employees, agents, advisors of, and any Person
controlling any of, the foregoing (each, an “Indemnified Party”) from and against any and all
damages, losses, liabilities, expenses, obligations, penalties, actions, suits, judgments and
disbursements of any kind or nature whatsoever (including, without limitation, the reasonable fees
and disbursements of counsel) (collectively the “Liabilities”) that are incurred by or asserted or
awarded against any Indemnified Party, in each case arising out of or in connection with or by
reason of (and regardless of whether or not any such transactions are consummated) any of the
transactions contemplated by the Facility Documents, including without limitation, any one or more
of following:

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     (i) the execution, delivery, enforcement, performance, administration of, or otherwise
arising out of or incurred in connection with this Agreement, the Transfer Agreement, the
Servicing Agreement, any Irrevocable Payment Instruction or any other Facility Document;

     (ii) preparation for a defense of, any investigation, litigation or proceeding arising
out of this Agreement or any other Facility Documents or the transactions contemplated
hereby or thereby ; provided, however, that the Seller’s obligation under
this Section 9.04(b)(ii) to indemnify any Indemnified Party in respect of any Liability
described in this clause (ii) shall be limited, solely in respect of costs and expenses
incurred in the preparation of any such defense during the period prior to the date that any
service of process (whether as a party, as a witness or otherwise) is made on such
Indemnified Party (or any other Person with custody over the Purchased Receivables, the
Collections or Proceeds thereof) in respect thereof, to $100,000 in respect of such costs
and expenses of such Indemnified Party relating to any single investigation, litigation or
proceeding and to $200,000 in respect of all such costs and expenses of such Indemnified
Party, incurred during any twelve month period, relating to all to such investigations,
litigations or proceedings;

     (iii) any failure or alleged (by Persons other than the Indemnified Party) failure by
the Distributor, the Seller (as Servicer or otherwise) or any Advisor to perform any of its
obligations, covenants, or agreement contained in any Facility Documents to which it is a
party promptly and fully;

     (iv) any representation or warranty made or deemed made by the Distributor, the Seller
(as Servicer or otherwise) or any Advisor, contained in this Agreement or any Facility
Documents or in any certificate, written statement or report (including without limitation
each Purchase Report, each Transfer Agent Report and each Sub-transfer Agent Report)
delivered by or on behalf of any such Person in connection herewith or therewith is, or is
alleged (by Persons other than the Indemnified Party) to have been false or misleading in
any respect when made or any information (including without limitation any Sub-transfer
Agent Report or any Transfer Agent Report) prepared or provided by the Seller, the
Distributor, any Advisor, any of their Affiliates, any Sub-transfer Agent, Transfer Agent or
by any other Person (including, without limitation, any Unaffiliated Agent) to the Purchaser
or the Program Agent in writing for purposes of or in connection with any Facility Document
shall fail to be true, correct and complete in all material respects on the date such
information is stated or certified or any such information shall contain any material
misrepresentation or any omission to state therein matters necessary to make the statements
made therein not misleading in any material respect;

     (v) any failure by the Distributor, the Seller (as Servicer or otherwise) or any
Advisor to comply promptly and fully with any Applicable Law or any contractual obligation
binding upon it;

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     (vi) any failure of any transfer of Receivables by the Distributor to the Seller under
the Transfer Agreement or any failure of any transfer of Receivables by the Seller to the
initial Purchaser under this Agreement to constitute a True Sale;

     (vii) any failure to vest in the Purchaser a first priority perfected ownership
interest in the Purchased Receivables, the Ancillary Rights with respect thereto and the
Collections related thereto free and clear of all Adverse Claims or any commingling of
Collections with any other funds;

     (viii) any action or omission, not expressly required or contemplated to occur by the
Facility Documents by the Distributor, the Seller (as Servicer or otherwise) or any Advisor,
which has the effect of reducing or impairing the rights of the Purchaser or the Program
Agent with respect to the Purchased Receivables and the Collections related thereto or under
any Facility Document or which otherwise gives rise to an Adverse Effect;

     (ix) any failure by the Distributor, the Seller (as Servicer or otherwise) or any
Advisor, to make or cause to be made in the manner and when due any payment or deposit
required to be paid by such party pursuant to any Facility Document or any failure of any
Sub-transfer Agent to remit all CDSCs in respect of Omnibus Shares in its related Omnibus
Account to the Demand Deposit Account as and when specified in the Irrevocable Payment
Instruction;

     (x) any failure of any Distribution Plan, any Irrevocable Payment Instruction, any
Underwriting Agreement or any other Facility Document to comply with any Applicable Law,
unless such failure results from the failure of the Program Agent to, at the written request
of the Seller (which written request shall specify that such amendment is required for such
document to comply with Applicable Law), consent to an amendment to any such document which
could not give rise to a reasonable possibility of an Adverse Effect and which is necessary
in order for such document to comply with the Applicable Law;

     (xi) the execution, delivery, enforcement, performance, administration of, any Selling
Agent’s Agreement, the failure or alleged failure (by Persons other than the Indemnified
Party) of any Selling Agent to perform its obligations under any Selling Agent’s Agreement
to which it is a party, any representation or warranty made by any Selling Agent is, or is
alleged (by Persons other than the Indemnified Party) to have been false or misleading in
any respect when made or deemed made, the failure of any Selling Agent to comply promptly
and fully with Applicable Law, or any other action or omission by any Selling Agent not
expressly required or contemplated to occur by the Program Documents;

     (xii) if on any Purchase Date any condition precedent set forth in Article III of this
Agreement shall not have been fully satisfied;

     (xiii) any proceeding by or against the Distributor, the Seller (as Servicer or
otherwise) or any Advisor seeking to adjudicate such Person, bankrupt or insolvent, or

33

 

seeking liquidation, winding up, administration, reorganization, arrangement,
adjustment, protection, relief, or composition of such Person or the debts of such Person
under any Law relating to bankruptcy, insolvency, liquidation, administration,
reorganization or relief of debtors or seeking the entry of an order for relief or the
appointment of a receiver, trustee, custodian, administrator, liquidator, or other similar
official for such Person or for a substantial part of such Person’s property;

     (xiv) any change in Applicable Law after May 2, 1995 which causes any of the
representations and warranties of the Distributor or the Seller (as Servicer or otherwise)
set forth herein or in any Facility Document to no longer be true and correct as though such
representation or warranty had been made on the date of such change in Applicable Law or
which alters the obligations of the Distributor, the Seller (as Servicer or otherwise), any
Advisor or any Company as set forth in the Facility Documents other than in each case (i) a
change in Law applicable on an industry wide basis resulting in a Complete Termination of
the Distribution Plan of any Fund, or (ii) a reduction in the Maximum Aggregate Sales Charge
Allowable or in the annual limitation on the amount payable by any Company in respect of the
Sales Charge in respect of the Receivables relating to any Fund resulting solely from a
change in Law applicable on an industry wide basis;

     (xv) the adoption by any Company or any Fund of a Liquidation Plan;

     (xvi) any amendment to the Prospectus in respect of a Fund in effect on the date hereof
which changes the computation or timing of the CDSC or the rights of the Distributor in
respect thereof;

     (xvii) Free Redemptions in excess of the Annual Redemption Threshold, it being
understood that the amount payable in respect of this clause from and after the first day
upon which the Annual Redemption Threshold has been met, shall be an amount equal to the
CDSCs that would have been payable upon the redemption of each Share relating to a Purchased
Receivable had each such excess redemption not constituted a Free Redemption and shall be
paid in arrears on each Monthly Settlement Date);

     (xviii) any Adverse Claim in respect of the Receivables or the Collections; and

     (xix) the Seller’s Class A and C CDSC Portion being remitted to the Demand Deposit
Account or the Collection Account, including without limitation, the Seller’s failure to
properly identify such amounts.

provided, however, that the Seller shall not be required to indemnify any
Indemnified Party in respect of any Liability to the extent such Liability: (I) is found in a
final, non-appealable judgment by a court of competent jurisdiction or is agreed in writing by the
Indemnified Party to have resulted directly and primarily from one or more of the following
(A) such Indemnified Party’s gross negligence or willful misconduct, or (B) the Purchased
Receivables proving to be uncollectible or, for the avoidance of doubt, being payable in an amount
less than expected as a result of changes in the Net Asset Value of the Shares, except to the
extent that such

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uncollectibility or reduction in the amount payable is attributable to what would not have occurred
but for any one or more of the events described in clauses (i) through (xix); (II) constitutes a
liability arising out of a Take-out Transaction, except to the extent such Liability is
attributable to or would not have occurred but for any one or more of the events described in
clauses (i) through (xix) above; or (III) constitutes consequential damages, it being understood
that the limitation set forth in clause (III) of this Section 9.04(b) is not intended to preclude
any Transferee from being the beneficiary of, or from having the same rights to indemnification
under this Section 9.04(b) that such Transferee would have as Purchaser if it were the signatory to
this Agreement and the other Facility Documents to which the Purchaser is a party.

          (c) Without prejudice to the survival of any other agreement of the Seller hereunder, the
agreement and obligations of the Seller contained in this Section 9.04 shall survive the
termination of this Agreement.

          Section 9.05. Taxes. 

          (a) Any and all payments by the Distributor, the Seller, any Advisor, the Transfer Agent or
any Company under this Agreement, the Transfer Agreement, the Purchase Agreement, any Irrevocable
Payment Instruction or any other Facility Document shall be made free and clear of and without
deduction for any and all present or future taxes, levies, imposts, deductions, charges or
withholdings, and all liabilities with respect thereto, excluding, taxes imposed on the
recipient’s income, and franchise taxes imposed on the recipient, by (i) the United States federal
government, (ii) the jurisdiction under the laws of which the recipient is organized or any
political subdivision thereof, (iii) by the jurisdiction in which is located the principal
executive office of the recipient or any political subdivision thereof or (iv) by any other
jurisdiction which asserts the authority to impose such tax on the basis of contacts the recipient
maintains with such jurisdiction other than the contacts arising out of the transactions
contemplated hereby (all such non-excluded taxes, levies, imposts, deductions, charges,
withholdings and liabilities being hereinafter referred to as “Taxes”). If the Distributor, the
Seller, any Advisor, the Transfer Agent or any Company shall be required by Law to deduct any Taxes
from or in respect of any sum payable hereunder or under any other Facility Document, (i) the sum
payable hereunder or thereunder shall be increased as may be necessary so that after making all
required deductions (including deductions applicable to additional sums payable under this
Section 9.05) the recipient receives an amount equal to the sum it would have received had no such
deductions been made, (ii) the Distributor, the Seller, any Advisor, the Transfer Agent or any
Company shall make such deductions and (iii) the Seller shall pay the full amount deducted to the
relevant taxation authority or other authority in accordance with Applicable Law.

          (b) In addition, the Seller agrees to pay any present or future stamp or documentary taxes or
any other excise or property taxes, charges or similar levies which arise from any transfer of
Receivables in connection herewith or from the execution, delivery or registration of, or otherwise
with respect to, this Agreement, the Transfer Agreement or any other Facility Document other than
any such Tax imposed in respect of a Take-out Transaction (hereinafter referred to as “Other
Taxes”).

35

 

          (c) The Seller will indemnify the Program Agent and the Purchaser for the full amount of Taxes
or Other Taxes (including, without limitation, any Taxes or Other Taxes imposed by any jurisdiction
on amounts payable under this Section 9.05) and any liability (including penalties, interest and
expenses) arising therefrom or with respect thereto, whether or not such Taxes or Other Taxes were
correctly or legally asserted, so long as there is a reasonable basis for the assertion of such
Taxes or Other Taxes. This indemnification shall be made within 30 days from the date the Program
Agent or the Purchaser makes written demand therefor to the Seller.

          (d) Within thirty (30) days after the date of any payment of Taxes, the Seller will furnish to
the Purchaser and the Program Agent the original or a certified copy of a receipt evidencing
payment thereof.

          (e) Unless the Seller, the Distributor or the applicable Advisor, as the case may be, shall
have assumed responsibility for contesting a Tax or Other Tax described in paragraph (c) of this
Section 9.05 as provided in the next sentence, the Purchaser may, but shall have no obligation to
contest, settle or compromise such Tax or Other Tax. The Seller, the Distributor or the applicable
Advisor, as the case may be, may pursue, at its sole cost and expense, such lawful rights as are
available at law to contest any Tax or Other Tax asserted against the Purchaser or the Program
Agent provided: (i) the Seller, the Distributor or the applicable Advisor, as the case may be, has
assumed responsibility for such contest and the Seller has conceded in writing its responsibility
to indemnify the Purchaser or the Program Agent, as the case may be, in accordance with this
Section, for the full amount of such Tax or Other Tax; (ii) such contest is conducted in a manner
which does not result in a Lien on the Receivables and if the manner of contest does not defer the
obligation to pay the Tax or Other Tax, the Seller shall pay such Tax or Other Tax when due,
subject to the right to recover such Tax or Other Tax if the contest is successful, (iii) to the
extent not covered by Section 9.04(b), the Seller shall have provided to the Purchaser or the
Program Agent, as the case may be, such undertakings as the Purchaser or the Program Agent, as the
case may be, shall request, in form and substance satisfactory to the Purchaser, or the Program
Agent, as the case may be, whereby the Seller agrees to hold the Purchaser or the Program Agent, as
the case may be, harmless from any and all liabilities, costs and expenses which may arise as a
consequence of such contest; (iv) the Seller shall have furnished the Purchaser or the Program
Agent, as the case may be, with an opinion, in form and scope reasonably satisfactory to the
Purchaser or the Program Agent, as the case may be, of counsel reasonably satisfactory to the
Purchaser or the Program Agent, as the case may be, that there is a meritorious basis for such
contest; (v) the contest of such Tax or Other Tax may be conducted in a manner which does not
affect the liability of the Purchaser or the Program Agent, as the case may be, for any tax not
indemnified by Seller; (vi) the contest of such Tax or Other Tax can be separated from any contest
of any other tax in respect of which the Seller has not indemnified Purchaser or the Program Agent,
as the case may be, without prejudicing the Purchaser’s or the Program Agent’s, as the case may be,
ability to deal with or otherwise contest such other liability; and (vii) the Purchaser or the
Program Agent, as the case may be, has not waived its right to indemnification by the Seller in
respect of such Tax or Other Tax. The Seller shall keep the Purchaser or the Program Agent, as the
case may be, fully advised on a current basis concerning any such contest, and, without limiting
the foregoing: (a) the Seller shall give the Purchaser or the Program Agent, as the case may be,
reasonable notice of and a reasonable opportunity to be present in person or by counsel at any
proceeding in connection

36

 

therewith; (b) the Seller shall give the Purchaser or the Program Agent, as the case may be,
notice of any proposed filings or papers to be served or filed by the Seller in connection with any
such proceedings and a reasonable opportunity to comment upon them; and (c) the Seller shall
promptly supply the Purchaser or the Program Agent, as the case may be, with copies of any filings
or papers served upon the Seller in connection with such proceedings; it being understood that the
Purchaser or the Program Agent, as the case may be, shall bear its own costs incurred in connection
with any participation by the Purchaser or the Program Agent, as the case may be, or its counsel in
the contest as contemplated by this sentence.

          (f) In the event the Seller shall pay a Tax or Other Tax pursuant to this Section 9.05 and all
or a portion of such Tax or Other Tax previously paid by Seller is later refunded by the applicable
Taxing Authority the recipient of such refund shall pay to the Seller the portion of such refund
which relates to the amount previously paid by the Seller.

          (g) Without prejudice to the survival of any other agreement of the Seller hereunder, the
agreements and obligations of the Seller contained in this Section 9.05 shall survive the
termination of this Agreement.

          Section 9.06. Execution in Counterparts. 

          This Agreement may be executed in any number of counterparts and by different parties hereto
on separate counterparts, each of which counterparts, when so executed and delivered, shall be
deemed to be an original and all of which counterparts, taken together, shall constitute but one
and the same Agreement.

          Section 9.07. Binding Effect; Assignment.

          This Agreement shall be binding upon, and inure to the benefit of, the parties hereto and
their respective successors and assigns. Except as a result of a Permitted Change in Control,
neither the Seller, the Distributor nor any Advisor shall assign its rights or obligations
hereunder or in connection herewith or any interest herein (voluntarily, or by operation of law or
otherwise) without the Program Agent’s and the Purchaser’s prior written consent. This Agreement
and the Program Agent’s and the Purchaser’s rights herein (including without limitation in respect
of the Purchased Receivables, the Collections and the Ancillary Rights with respect thereto) shall
be assignable, in whole or in part, by the Purchaser and the Program Agent and their respective
successors and assigns; provided, however, that in connection with any proposed
Take-out Transaction, prior to distributing to potential investors any offering materials which
contain information describing the Seller, any Advisor, the Distributor or any of their respective
Affiliates, the Program Agent shall give the Seller a reasonable opportunity to review and comment
upon such portion of such materials. Unless the Purchaser reasonably determines that disclosure is
required in order to comply with Law applicable to such Take-out Transaction, the Purchaser shall
not make any disclosure which the Seller reasonably identifies in its comments pursuant to the
preceding sentence as material, non-public information concerning the Seller or any of its
Affiliates, the release of which would have a material adverse consequence to the Seller or any of
its Affiliates (the “Prohibited Financial Information”); provided, however, that in
connection with the initial offering of any securities in a Take-out Transaction involving any
Purchased Receivables, the Purchaser shall not make any disclosure which the Seller

37

 

reasonably identifies as Prohibited Financial Information. Subject to Section 9.15, each of
the Seller, the Advisors and the Distributor hereby consents to the Purchaser and the Program Agent
entering into the Take-out Transactions.

          Section 9.08. Governing Law; Submission to Jurisdiction.

          (a) THIS AGREEMENT SHALL BE DEEMED TO BE A CONTRACT MADE UNDER THE LAWS OF THE STATE OF NEW
YORK AND FOR ALL PURPOSES SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF SAID
STATE WITHOUT REGARD TO ITS CONFLICTS OF LAWS PROVISIONS.

          (b) The Seller, each Advisor and the Distributor hereby irrevocably submits itself to the
non-exclusive jurisdiction of the courts of the State of New York and to the non-exclusive
jurisdiction of any Federal Court of the United States located in the southern district of New
York, for the purposes of any suit, action or other proceeding arising out of this Agreement, the
Servicing Agreement, the Collection Agency Agreement or any of the transactions contemplated hereby
or thereby.

          Section 9.09. Severability of Provisions.

          Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction
shall, as to such jurisdiction, be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining provisions hereof or affecting the validity or
enforceability of such provision in any other jurisdiction.

          Section 9.10. Confidentiality.

          Unless otherwise required by Applicable Law, the Seller, each Advisor and the Distributor
agree to use commercially reasonable efforts to maintain the confidentiality of the Facility
Documents (and all drafts hereof and thereof) and the transactions contemplated thereby other than
the Transfer Agent’s Agreement, the Underwriting Agreements, the Advisory Agreements, the
Distribution Plan and the Prospectuses in communications with third parties and otherwise;
provided, that such documents and the transactions contemplated thereby may be disclosed
(i) to third parties to the extent such disclosure is consented to in writing by the Program Agent
(which consent shall not be unreasonably withheld) and such disclosure is made pursuant to a
written confidentiality agreement in form and substance substantially identical to this Section
9.10, and (ii) the officers, partners, directors and employees, legal counsel and auditors of the
Seller, the Advisors and the Distributor.

          Notwithstanding anything in this Section 9.10 to the contrary, each party to this Agreement
and each of its officers, directors, partners, employees, legal counsel and auditors may disclose
to any and all Persons, without limitation of any kind, the U.S. tax treatment and U.S. tax
structure of the facility contemplated by the Facility Documents and all materials of any kind
(including opinions or other tax analyses) that are provided to it, relating to such U.S. tax
treatment and U.S. tax structure of the facility, other than any information for which
non-disclosure is reasonably necessary in order to comply with applicable securities laws.

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          Section 9.11. Intent of Agreement. 

          It is the intention of this Agreement that each purchase of Receivables hereunder and the
Ancillary Rights with respect thereto shall convey to the Purchaser an undivided 100% ownership
interest in such Purchased Receivables, the Collections in respect thereto and the Ancillary Rights
with respect thereto on the Purchase Date therefor and that such transactions shall constitute a
True Sale and not a secured loan. If, notwithstanding such intention, any conveyance of
Receivables and the Collections and the Ancillary Rights with respect thereto from the Seller to
the Purchaser shall ever be recharacterized as a secured loan and not a sale, it is the intention
of this Agreement that this Agreement shall constitute a security agreement under Applicable Law,
and that the Seller shall be deemed to have granted to the Purchaser a duly perfected first
priority security interest in all of the Seller’s right, title and interest in, to and under such
Purchased Receivables, the Collections and the Ancillary Rights in respect thereto free and clear
of any Adverse Claim.

          Section 9.12. Liability to any Company.

          No obligation or liability to any Company, the Seller, any Advisor, the Distributor, any
shareholder of any Fund or any Person contracting with or related to any Company is intended to be
assumed by the Program Agent or the Purchaser under or as a result of this Agreement or the other
Program Documents and the transactions contemplated hereby and thereby and, to the maximum extent
permitted under provisions of Law, the Program Agent and the Purchaser expressly disclaim any such
assumption. The Seller shall indemnify, defend and hold harmless the Program Agent and the
Purchaser from any loss, liability or expense incurred as a result of any claim that any such
obligation or liability has been so assumed.

          Section 9.13. Merger.

          The Facility Documents taken as a whole incorporate the entire agreement between the parties
thereto concerning the subject matter thereof. The Facility Documents supersede any prior
agreements among the parties relating to the subject matter thereof.

          Section 9.14. Further Acts.

          Each party agrees that at any time, and from time to time, it will do all such things and
execute and deliver all such instruments, assignments, other documents and assurances, as such
other party or its counsel reasonably deems necessary or desirable in order to carry out the
express intent, purpose and conditions of this Agreement and the other Facility Documents and the
transactions contemplated hereby and thereby, and without limiting the generality of the foregoing,
to the extent permitted by Applicable Law, upon the Program Agent’s or the Purchaser’s written
request from time to time, the Seller, each Advisor and the Distributor shall make, execute,
acknowledge and deliver and file and record in the proper filing and recording places all such
instruments, and take all such actions, as the Program Agent or the Purchaser may reasonably deem
necessary or advisable for assuring or confirming to the Purchaser its rights and interest in and
to, and remedies in respect of, the Purchased Receivables, the Ancillary Rights and the Collections
related thereto.

39

 

          Section 9.15. Assignee Rights; Etc. 

          (a) The Seller, each Advisor and the Distributor acknowledge and agree that any Person which
purchases or otherwise acquires any interest in any Purchased Receivables or the Ancillary Rights
in respect thereof (or the right to receive any Collections with respect thereto) in a Take-out
Transaction (each such Person, a “Transferee”), (and in the case of indemnities, their respective
Affiliates and their officers, directors, employees and agents) shall each, to the extent of such
Transferee’s interest, be a beneficiary of the representations, warranties, indemnities, covenants,
agreements and undertakings of the Seller, each Advisor and the Distributor under this Agreement
and the other Facility Documents to which it is a party; provided, that such rights of the
Transferees in a Take-out Transaction may be enforced on behalf of such Transferees only by the
Master Servicer for the related Master Trust. The Seller, each Advisor and the Distributor agree
to execute and deliver such instruments and documents and shall take all such actions as the
Program Agent, the Purchaser or any Master Trust shall reasonably deem necessary in order to permit
the Purchaser to convey any portion of its right, title and interest in, to or under the Purchased
Receivables or the Ancillary Rights and Collections in respect thereof to any Transferee and to
confer upon any such Transferee the rights and privileges in and to the Purchased Receivables and
the Ancillary Rights in respect thereof to which such Transferee has an interest and under the
Facility Documents to the extent of such transfer and assignment. Without limiting the foregoing,
if any Program Document is amended, waived or modified and the Program Agent has not in connection
with such amendment, waiver or modification required that a new True Sale Opinion be delivered in
connection therewith, and subsequent to the effective date of such amendment, modification or
waiver the Program Agent has notified the Seller and the Distributor that S&P, Moody’s or any other
nationally recognized rating agency has requested that the Program Agent obtain a new True Sale
Opinion, each of the Seller and the Distributor agrees to, as promptly as possible (and in any
event within two weeks after receipt of such notice) use its best efforts to cause its outside
counsel to deliver a new True Sale Opinion to the Purchaser and the Program Agent, which is in
form, scope and substance reasonably satisfactory to the Program Agent. In addition, the Seller
acknowledges and agrees that the effectiveness of any extension of the Termination Date is
conditioned upon the Seller and the Distributor delivering to the Purchaser and the Program Agent a
True Sale Opinion dated on or about the effective date of such extension, in form, scope and
substance reasonably satisfactory to the Program Agent; provided, however, that the
delivery of such new True Sale Opinion shall not be required as a condition to any such extension
if the Program Agent and the Purchaser shall have received a True Sale Opinion dated within 365
days of the effective date of such extension, which is in form, scope and substance reasonably
satisfactory to the Program Agent. Notwithstanding anything in this Section 9.15 to the contrary,
no Transferee shall be deemed to have assumed any of the obligations or liabilities of the Seller
or the Distributor under this Agreement or any other Program Document. No such transfer to a
Transferee shall alter the obligations of the Seller, any Advisor or the Distributor hereunder.

          (b) Subject to the other requirements set forth in Section 9.07, the Program Agent agrees that
any written offering memorandum or circular used in connection with any Take-out Transaction
involving Purchased Receivables which contains information concerning the Seller or the Distributor
shall (i) incorporate language substantially in the form of Schedule VI hereto, and (ii) provide
that the securities which are the subject of such Take-out Transaction will be offered only to
institutional accredited investors (as defined in Rule 501(a)

40

 

under the Securities Act), to a qualified institutional buyer within the meaning of Rule 144A
under the Securities Act and/or to any Person in a transaction exempt from registration under the
Securities Act. The Program Agent also agrees that each Take-out Transaction involving Purchased
Receivables shall be structured in a manner so that the securities which are the subject of such
Take-out Transaction are to be offered and sold in a transaction exempt from registration under the
Securities Act.

          The Seller, each Advisor and the Distributor acknowledge that under the documentation to be
entered into in connection with Take-out Transactions involving the Purchased Receivables (the
“Take-out Documents”) the holders of the securities issued in connection with such Take-out
Transaction may have the right to consent to the Purchaser and the Program Agent taking certain
actions and consenting to certain amendments, modifications or waivers under the Program Documents
(collectively, the “Actions”). The Program Agent agrees that without the prior written consent of
the Seller (which consent shall not be unreasonably withheld or delayed) the Take-out Documents
relating to any Take-out Transaction shall not provide that more than the holders which in the
aggregate have a 51% interest in the securities of each class issued in connection with such
Take-out Transaction (the “Holders”) be required to consent to the Purchaser or the Program Agent
taking any Action; provided, however, that with respect to any Action which could
affect the amount or timing of Collections relating to Purchased Receivables or which amend or
modify the Allocation Procedures, the Take-out Documents may provide that the consent of the
holders which in the aggregate have a 66-2/3% interest in the securities of any class issued in
connection with such Take-out Transaction be required for the Purchaser or the Program Agent to
take any such Action; provided, further, that no Holders (other than Citibank and
Citicorp North America, Inc.) will be entitled to require that the Program Agent declare the
Termination Date to have occurred following any Event of Termination.

          Section 9.16. Specific Performance; Other Rights and Remedies. 

          The parties hereto recognize that certain of their rights under this Agreement and the other
Facility Documents are unique and, accordingly, the parties hereto shall, in addition to such other
remedies as may be available to any of them at law or in equity or under this Agreement and the
other Facility Documents, have the right to enforce their rights hereunder and thereunder by
actions for injunctive permitted relief and specific performance to the extent permitted by
Applicable Law. The rights and remedies of the Program Agent and the Purchaser under this
Agreement and the other Facility Documents are cumulative and are not in lieu of, but are in
addition to, any other rights and remedies which the Program Agent and the Purchaser may have under
or by virtue of any Applicable Law, or in equity, or any other agreement or obligations to which
the Program Agent and the Purchaser is a party. The rights and remedies of the Program Agent and
the Purchaser under this Agreement and the other Facility Documents may be exercised from time to
time and as often as such exercise is deemed expedient. Without limiting the generality of the
foregoing, the Seller, each Advisor and the Distributor acknowledge and agree that it will be
impossible to measure in money the damage to the Program Agent or the Purchaser in the event of a
breach of any of the terms and provisions of this Agreement or any other Program Document, and
that, in the event of any such breach, the Program Agent and the Purchaser may not have an adequate
remedy at Law, although the foregoing shall not constitute a waiver of any of the Program Agent’s
or the Purchaser’s rights,

41

 

powers, privileges and remedies against or in respect of a breaching party, any collateral or
any other Person or thing under this Agreement, any other Facility Document or Applicable Law. It
is therefore agreed that each of the Program Agent and the Purchaser, in addition to all other such
rights, powers, privileges and remedies that it may have, shall be entitled to injunctive relief,
specific performance or such other equitable relief as it may request to exercise or otherwise
enforce any of the terms of those provisions and to enjoin or otherwise restrain any act prohibited
thereby, and the Seller, each Advisor and the Distributor agree that they shall not argue and
hereby waive any defense that there is an adequate remedy available at Law.

42

 

     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their
respective officers thereunto duly authorized, as of the date first above written.

	 	 	 	 	 
	 	CITIBANK, N.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	CITICORP NORTH AMERICA, INC.,

     as Program Agent

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	A I M MANAGEMENT GROUP INC.,

   as Seller

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	A I M DISTRIBUTORS, INC.,

   as Distributor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	A I M ADVISORS, INC.,

   as Advisor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	INVESCO FUNDS GROUP, INC.,

    as Advisor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

SCHEDULE I

FORM OF PURCHASER REPORT

 

 

SCHEDULE II

COMPANY: AIM FUNDS GROUP

	 	 	 	 	 
	 	 	FUNDS	 	SHARES
	1.

	 	AIM Balanced Fund
	 	Class B
	2.

	 	AIM Global Utilities Fund
	 	Class B
	3.

	 	AIM Global Value Fund
	 	Class B
	4.

	 	AIM European Small Company Fund
	 	Class B
	5.

	 	AIM International Emerging Growth Fund
	 	Class B
	6.

	 	AIM New Technology Fund
	 	Class B
	7.

	 	AIM Small Cap Equity Fund
	 	Class B
	8.

	 	AIM Basic Balanced Fund
	 	Class B
	9.

	 	AIM Mid Cap Basic Value Fund
	 	Class B
	10.

	 	AIM Premier Equity Fund
	 	Class B
	11.

	 	AIM Premier Equity II Fund
	 	Class B
	12.

	 	AIM Select Equity Fund
	 	Class B

COMPANY: AIM INTERNATIONAL FUNDS, INC.

	 	 	 	 	 
	 	 	FUNDS	 	SHARES
	1.

	 	AIM Global Aggressive Growth Fund
	 	Class B
	2.

	 	AIM Global Growth Fund
	 	Class B
	3.

	 	AIM Asia Pacific Growth Fund
	 	Class B
	4.

	 	AIM European Growth Fund
	 	Class B
	5.

	 	AIM International Growth Fund
	 	Class B

 

 

COMPANY: AIM ADVISOR FUNDS

	 	 	 	 	 
	 	 	FUNDS	 	SHARES
	1.

	 	AIM International Core Equity Fund
	 	Class B
	2.

	 	AIM Real Estate Fund
	 	Class B

COMPANY: AIM EQUITY FUNDS

	 	 	 	 	 
	 	 	FUNDS	 	SHARES
	1.

	 	AIM Charter Fund
	 	Class B
	2.

	 	AIM Weingarten Fund
	 	Class B
	3.

	 	AIM Blue Chip Fund
	 	Class B
	4.

	 	AIM Capital Development Fund
	 	Class B
	5.

	 	AIM Constellation Fund
	 	Class B
	6.

	 	AIM Aggressive Growth Fund
	 	Class B
	7.

	 	AIM Dent Demographic Trends Fund
	 	Class B
	8.

	 	AIM Large Cap Growth Fund
	 	Class B
	9.

	 	AIM Emerging Growth Fund
	 	Class B
	10.

	 	AIM Large Cap Basic Value Fund
	 	Class B
	11.

	 	AIM Mid Cap Growth Fund
	 	Class B
	12.

	 	AIM Basic Value II Fund
	 	Class B
	13.

	 	AIM Core Strategies Fund
	 	Class B
	14.

	 	AIM Diversified Dividend Fund
	 	Class B
	15.

	 	AIM U.S. Growth Fund
	 	Class B

2

 

COMPANY: AIM SPECIAL OPPORTUNITIES FUNDS

	 	 	 	 	 
	 	 	FUNDS	 	SHARES
	1.

	 	AIM Opportunities I Fund
	 	Class B
	2.

	 	AIM Opportunities II Fund
	 	Class B
	3.

	 	AIM Opportunities III Fund
	 	Class B

COMPANY: AIM TAX-EXEMPT FUNDS

	 	 	 	 	 
	 	 	FUNDS	 	SHARES
	1.

	 	AIM High Income Municipal Fund
	 	Class B

COMPANY: AIM INVESTMENT FUNDS

	 	 	 	 	 
	 	 	FUNDS	 	SHARES
	1.

	 	AIM Developing Markets Fund
	 	Class B
	2.

	 	AIM Global Energy Fund
	 	Class B
	3.

	 	AIM Global Health Care Fund
	 	Class B
	4.

	 	AIM Global Science & Technology Fund
	 	Class B
	5.

	 	AIM Libra Fund
	 	Class B
	6.

	 	AIM Global Financial Services Fund
	 	Class B

COMPANY: AIM GROWTH SERIES

	 	 	 	 	 
	 	 	FUNDS	 	SHARES
	1.

	 	AIM Basic Value Fund
	 	Class B
	2.

	 	AIM Mid Cap Core Equity Fund
	 	Class B
	3.

	 	AIM Small Cap Growth Fund
	 	Class B

3

 

COMPANY: AIM SERIES TRUST

	 	 	 	 	 
	 	 	FUNDS	 	SHARES
	1.

	 	AIM Global Trends Fund
	 	Class B

COMPANY: AIM INVESTMENT SECURITIES FUNDS

	 	 	 	 	 
	 	 	FUNDS	 	SHARES
	1.

	 	AIM High Yield Fund
	 	Class B
	2.

	 	AIM Income Fund
	 	Class B
	3.

	 	AIM Municipal Bond Fund
	 	Class B
	4.

	 	AIM Money Market Fund
	 	Class B
	5.

	 	AIM Intermediate Government Fund
	 	Class B
	6.

	 	AIM Total Return Bond Fund
	 	Class B

COMPANY: INVESCO COUNSELOR SERIES FUNDS, INC.

	 	 	 	 	 
	 	 	FUNDS	 	SHARES
	1.

	 	INVESCO Advantage Fund
	 	Class B
	2.

	 	INVESCO Advantage Global Health Sciences Fund
	 	Class B

COMPANY: INVESCO BOND FUNDS, INC.

	 	 	 	 	 
	 	 	FUNDS	 	SHARES
	1.

	 	INVESCO High Yield Fund
	 	Class B
	2.

	 	INVESCO Select Income Fund
	 	Class B
	3.

	 	INVESCO Tax-Free Bond Fund
	 	Class B
	4.

	 	INVESCO U.S. Government Securities Fund
	 	Class B

4

 

COMPANY: INVESCO COMBINATION STOCK & BOND FUNDS, INC.

	 	 	 	 	 
	 	 	FUNDS	 	SHARES
	1.

	 	INVESCO Balanced Fund
	 	Class B
	2.

	 	INVESCO Core Equity Fund
	 	Class B
	3.

	 	INVESCO Total Return Fund
	 	Class B

COMPANY: INVESCO INTERNATIONAL FUNDS, INC.

	 	 	 	 	 
	 	 	FUNDS	 	SHARES
	1.

	 	INVESCO European Fund
	 	Class B
	2.

	 	INVESCO International Blue Chip Value Fund
	 	Class B

COMPANY: INVESCO MANAGER SERIES FUNDS, INC.

	 	 	 	 	 
	 	 	FUNDS	 	SHARES
	1.

	 	INVESCO Multi-Sector Fund
	 	Class B

COMPANY: INVESCO MONEY MARKET FUNDS, INC.

	 	 	 	 	 
	 	 	FUNDS	 	SHARES
	1.

	 	INVESCO Cash Reserves Fund
	 	Class B

COMPANY: INVESCO SECTOR FUNDS, INC.

	 	 	 	 	 
	 	 	FUNDS	 	SHARES
	1.

	 	INVESCO Energy Fund
	 	Class B
	2.

	 	INVESCO Financial Services Fund
	 	Class B
	3.

	 	INVESCO Gold & Precious Metals Fund
	 	Class B
	4.

	 	INVESCO Health Sciences Fund
	 	Class B
	5.

	 	INVESCO Leisure Fund
	 	Class B
	6.

	 	INVESCO Real Estate Opportunity Fund
	 	Class B

5

 

	 	 	 	 	 
	 	 	FUNDS	 	SHARES
	7.

	 	INVESCO Technology Fund
	 	Class B
	8.

	 	INVESCO Telecommunications Fund
	 	Class B
	9.

	 	INVESCO Utilities Fund
	 	Class B

COMPANY: INVESCO STOCK FUNDS, INC.

	 	 	 	 	 
	 	 	FUNDS	 	SHARES
	1.

	 	INVESCO Dynamics Fund
	 	Class B
	2.

	 	INVESCO Growth Fund
	 	Class B
	3.

	 	INVESCO Growth & Income Fund
	 	Class B
	4.

	 	INVESCO Small Company Growth Fund
	 	Class B
	5.

	 	INVESCO Value Equity Fund
	 	Class B
	6.

	 	INVESCO Mid-Cap Growth Fund
	 	Class B

6

 

SCHEDULE III

CDSC Schedule

relating to all Commission Shares other

than the Floating Rate Fund Exchange Shares and Excluded Shares

	 	 	 
	Years from	 	 
	Fund Share Purchase	 	CDSC Rate
	0-1
	 	   5.0%
	1-2
	 	4.0
	2-3
	 	3.0
	3-4
	 	3.0
	4-5
	 	2.0
	5-6
	 	1.0
	6+
	 	0.0

CDSC Schedule

relating to all Commission Shares which

constitute Floating Rate Fund Exchange Shares and Excluded Shares

	 	 	 	 	 
	 	 	Contingent
	Years from date	 	Deferred
	first issued by a Fund	 	Sales Charge
	First

	 	 	3.0	%
	Second

	 	 	2.5	 
	Third

	 	 	2.0	 
	Fourth

	 	 	1.0	 
	Fifth and following

	 	 	0.0	 

 

 

SCHEDULE IV

FUNDAMENTAL INVESTMENT

OBJECTIVES AND POLICIES

 

 

SCHEDULE V

FORM OF LEGEND

NEITHER ANY [DISTRIBUTOR], ANY [ADVISOR], ANY [FUND] NOR ANY OF THEIR RESPECTIVE
AFFILIATES WILL RECEIVE ANY PORTION OF THE PROCEEDS FROM THE SALE OF THE
[SECURITIES]. NEITHER ANY [DISTRIBUTOR], ANY [ADVISOR], ANY [FUND] NOR ANY OF
THEIR RESPECTIVE AFFILIATES IS RESPONSIBLE FOR THE ACCURACY OR COMPLETENESS OF THE
INFORMATION CONTAINED IN THIS [MEMORANDUM].

 

 

SCHEDULE VI

Permitted Change in Control

(A)  In connection with such Change in Control relating to the Seller:

     (i) either (A) the Advisors and the Distributor shall each remain
investment advisors and principal distributor, as the case may be, for the
Funds or (B) if another Person shall be retained to replace any Advisor or
the Distributor to act as investment advisor or principal distributor, as
the case may be, for the Funds, such Person shall (x) meet the requirements
of (iii) below with reference to the expertise, experience and capacity
applicable to the function it undertakes to perform and (y) have agreed, in
respect of periods from and after its retention, to be bound by the
undertakings, agreements and obligations of the Advisors or the Distributor,
as the case may be, under the Program Documents and shall have confirmed its
representations and warranties as an Advisor or as the Distributor, as the
case may be;

     (ii) ownership of at least 51% of the voting securities of the
Distributor is retained by, or transferred, to a Person who will act as
“Seller” under the Facility Documents after such Change in Control (the
“Immediate Parent”) and each Advisor shall be an Affiliate of such Immediate
Parent;

     (iii) the Immediate Parent, together with its affiliated consolidated
subsidiaries in the aggregate, have financial resources and, together with
the investment advisor or the principal distributor of the Funds (if either
is not an Affiliate of the Immediate Parent), mutual fund management,
distribution and investment advisory expertise, experience and capacity
immediately after the Change in Control substantially equal to, or better
than, the lesser of (i) the financial resources and mutual fund management,
distribution and investment advisory expertise, experience and capacity of
the Person who was the assignee or successor to the Seller immediately prior
to such change in control (the “Existing Parent”), together with its
Affiliates and the Existing Advisor (as defined below in Part C) or Existing
Distributor (as defined below in Part B) if either was not then an Affiliate
of the Immediate Parent, immediately prior to the Change in Control, or
(ii) the financial resources and investment advisory expertise, experience
and capacity of the Seller, together with its Affiliates in the aggregate,
as of June 30, 2003;

     (iv) the Immediate Parent shall have agreed to be (or if the Existing
Parent, shall remain) bound by covenants identical to those of the Existing
Parent under the Purchase Agreement and the other Program

 

 

Documents, (including the undertaking set forth in Article VIII of the
Purchase Agreement in respect of each Person serving as investment advisor
and principal underwriter to the Funds) in respect of periods after the
Change in Control and, shall have affirmed the representations and
warranties of the Existing Parent under the Purchase Agreement and the Other
Program Documents; and

     (v) a majority of the Board of Trustees of each Fund, including a
majority who are not “Interested Persons” (as defined by Section 2(a)(19) of
the Investment Company Act) shall have either (i) reapproved the
Underwriting Agreement with the Distributor and the Advisory Agreement with
the applicable Advisor (or, in either case, approved a substitute agreement
substantially identical thereto so as not to give rise to a reasonable
possibility of an Adverse Effect) in light of such Change in Control and
such agreements shall remain in full force and effect or (ii) if in
connection with such Change in Control a new distributor has become the
principal underwriter for the Funds and/or a new investment advisor has
become the investment advisor for the Funds, shall have approved
substantially identical underwriting agreements and/or advisory agreements,
as the case may be, between the Funds and such replacement distributor or
advisor, as the case may be, so as not to give rise to a reasonable
possibility of an Adverse Effect.

(B) In connection with such Change in Control relating to the Distributor:

     (i) the assignee is a corporation at least 51% of the outstanding voting
securities of which is owned directly or indirectly by the Seller or by an Immediate
Parent resulting from a Change in Control permitted by this Part B and the Seller or
Immediate Parent, as the case may be, shall covenant or confirm that the Seller’s
covenants and agreements in the Purchase Agreement (including the undertaking set
forth in Article VIII of the Purchase Agreement as to the Distributor’s performance
under the Program Documents) are in full force and effect;

     (ii) the assignee shall have the mutual fund distribution expertise, experience
and capacity immediately after the effective date of such assignment substantially
equal to, or better than, the lesser of (i) the mutual fund distribution expertise,
experience and capacity of the Person who was the distributor immediately prior to the
effective date of such assignment (the “Existing Distributor”), or (ii) the mutual
fund distribution expertise, experience and capacity of the Distributor, as of
June 30, 2003;

     (iii) the assignee shall have affirmed the representations of the Distributor
under the Program Documents and shall have agreed to be bound by undertakings and
agreements substantially identical to those of the Distributor in the Program
Documents in respect of periods after the assignment; and

2

 

     (iv) a majority of the Board of Trustees of the Funds, including a majority who
are not “Interested Persons” (as defined by Section 2(a)(19) of the Investment Company
Act) shall have approved Underwriting Agreements with such assignee on substantially
identical terms to those in effect immediately prior to such assignment so as not to
give rise to a reasonable possibility of an Adverse Effect and such agreements shall
be in full force.

(C) In connection with such Change in Control relating to an Advisor:

     (i) the assignee is a corporation at least 51% of the outstanding voting
securities of which is owned directly or indirectly by AMVESCAP plc or by an
Immediate Parent resulting from a Change in Control permitted by this Part C and the
Seller or Immediate Parent, as the case may be, shall covenant or confirm that the
Seller’s covenants and agreements in the Program Documents (including the
undertaking set forth in Article VIII of the Purchase Agreement as to the Advisor’s
performance under the Program Documents) are in full force and effect;

     (ii) the assignee shall have the mutual fund management and investment advisory
expertise, experience and capacity immediately after the effective date of such
assignment substantially equal to, or better than, the lesser of (i) the mutual fund
management and investment advisory expertise, experience and capacity of the Person
who was the predecessor advisor (the “Existing Advisor”) immediately prior to the
effective date of such assignment or (ii) the mutual fund management and investment
advisory expertise, experience and capacity of the Advisors, as of June 30, 2003;

     (iii) the assignee shall have affirmed its representations and warranties as an
Advisor under the Program Documents and shall have agreed to be bound by
undertakings and agreements substantially identical to those of the Advisors in the
Program Documents in respect of periods after the assignment; and

     (iv) a majority of the Board of Trustees of the Funds, including a majority who
are not “Interested Persons” (as defined by Section 2(a)(19) of the Investment
Company Act) shall have approved an Advisory Agreement with such assignee on
substantially identical terms to those in effect immediately prior to such
assignment so as not to give rise to a reasonable possibility of an Adverse Effect
and such agreements shall remain in full force.

3

 

SCHEDULE VII

LOCATION OF RECORDS

11 Greenway Plaza, Suite 100

Houston, TX 77046-1173

 

 

EXHIBIT A

PURCHASE NOTICE

A I M MANAGEMENT GROUP INC.

11 Greenway Plaza

Suite 100Houston, Texas 77046

Citicorp North America, Inc.,

   as Program Agent

388 Greenwich Street, 19th Floor

New York, New York 10013

Attention: B Share Servicing

Citicorp North America, Inc.

U.S. Securitization

450 Mamaroneck Avenue

Harrison, New York 10528

Attention: B Share Servicing

	 	 	 	 	 
	 

	 	Re:
	 	Third Amended and Restated Purchase and Sale Agreement
dated as of August 18, 2003 (as from time to
time amended, the “Purchase Agreement”) among A I M
Management Group Inc., A I M Distributors, Inc.,
A I M Advisors, Inc., INVESCO Funds Group, Inc., Citibank, N.A.
and Citicorp North America, Inc., as Program Agent

          Pursuant to Section 2.02 of the above-referenced Purchase Agreement, you are hereby notified
that on ___, ___ (the “Purchase Date”), the undersigned proposes, subject to the terms
and conditions set forth in the Purchase Agreement, to sell to Citibank, N.A. certain Receivables
relating to each of the Funds, as set forth on Schedule I attached hereto. The Sale Cutoff Dates
and the Purchase Prices for such Receivables are set forth on Schedule I attached hereto. [The
date of the first issuance of Shares of each Fund to which the purchase on the initial Purchase
Date relates is ___, ___.]1 Capitalized terms used herein unless otherwise
defined herein shall have the meanings assigned to such terms in the Purchase Agreement.

          The undersigned certify that the conditions precedent set forth in Section 3.02 of the
Purchase Agreement have been satisfied.

 

 

	 	 	 	 	 	 	 
	 	 	A I M MANAGEMENT GROUP INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	  

Authorized
Signatory
	 	 

 

			
	1.	 	Applicable to the first Purchase of Receivables relating to such Fund under the Purchase
Agreement.

 

 

Purchase Period for each Fund                     

Sale Cutoff Date for each Fund                     

	 	 	 	 	 
	 	 	Total Issue Price	 	 
	 	 	of Shares Related	 	 
	Name	 	to Receivables	 	Purchase
	of Fund	 	to be Purchased	 	Amount ($)
	$                    

	 	$                    
	 	$                    
	$                    

	 	$                    
	 	$                    
	 

	 	$                    
	 	$                    

 

 

EXHIBIT B-1

A I M DISTRIBUTORS, INC.

Certificate

(Pursuant to Section 3.01(d) of the

Third Amended and Restated Purchase and Sale Agreement)

          I, the undersigned [Secretary] [Assistant Secretary] of A I M Distributors, Inc., a Delaware
corporation (the “Company”), DO HEREBY CERTIFY THAT:

          1. This Certificate is furnished pursuant to Section 3.01(d) of that certain Third Amended and
Restated Purchase and Sale Agreement dated as of August 18, 2003 (said Purchase and Sale Agreement,
as in effect on the date of this Certificate, being herein called the “Purchase Agreement”) among
the Company, A I M Management Group Inc., A I M Advisors, Inc., INVESCO Funds Group, Inc.,
Citibank, N.A. and Citicorp North America, Inc., as Program Agent. Unless otherwise defined
herein, capitalized terms used in this Certificate shall have the meanings assigned to those terms
in the Purchase Agreement.

          2. Attached hereto as Annex A is a copy of the Certificate of Incorporation of the Company as
in effect on the date hereof, certified by the Secretary of State of Delaware.

          3. Attached hereto as Annex B is a true and correct copy of the By-laws of the Company as in
effect on the date hereof.

          4. Attached hereto as Annex C is a true and correct copy of resolutions duly adopted by
unanimous consent of the Board of Directors of the Company on
___, 200 ___(___,
2003 in respect of the Transfer Agreement) which resolutions have not been revoked, modified,
amended or rescinded and are still in full force and effect, and the Purchase Agreement, the
Transfer Agreement and each Irrevocable Payment Instruction are in substantially the forms of those
documents submitted to, and approved by, the Board of Directors of the Company.

          5. The below-named persons have been duly elected and have duly qualified as, and at all times
since                      (to and including the date hereof) have been, officers of the Company,
holding the respective offices below set opposite their names, and the signatures below set
opposite their names are their genuine signatures:

 

 

	 	 	 	 	 
	Name	 	Office	 	Signature
	 	 	 	 	 
	 	 	 	 	 
	 
	 	 
	 	 
	 	 	 	 	 
	 	 	 	 	 
	 
	 	 
	 	 
	 	 	 	 	 
	 	 	 	 	 
	 
	 	 
	 	 
	 	 	 	 	 
	 	 	 	 	 
	 
	 	 
	 	 

          WITNESS
my hand as of this ___ day of ___, 200___.

	 	 	 	 	 	 	 
	 

	 	By:
	 	 
 

	 	 
	 	 	[Secretary][Assistant Secretary]	 	 
	 	 	A I M Distributors, Inc.	 	 

          I, the undersigned [President] [Vice President] of the Company, DO HEREBY CERTIFY that:

          1.
___ is the duly elected and qualified [Secretary] [Assistant Secretary] of
the Company and the signature above is [his] [her] genuine signature.

          2. The Purchase Agreement and each other Program Document to which the Company is a party is
in full force and effect on the date hereof.

          3. The representations and warranties on the part of the Company contained in the Purchase
Agreement and the other Program Documents to which the Company is a party are true and correct at
and as of the date hereof as though made on and as of the date hereof.

 

 

     WITNESS
my hand as of this ___ day of                     , 200___.

	 	 	 	 	 
	 	 	 
	 	By:  	
 	 
	 	 	[President] [Vice President] 	 
	 	 	A I M Distributors, Inc. 	 
	 

 

 

EXHIBIT B-2

A I M MANAGEMENT GROUP INC.

Certificate

(Pursuant to Section 3.01(d) of the

Third Amended and Restated Purchase and Sale Agreement)

     I, the undersigned [Secretary] [Assistant Secretary] of A I M MANAGEMENT GROUP INC., a
Delaware corporation (the “Company”), DO HEREBY CERTIFY THAT:

     1. This Certificate is furnished pursuant to Section 3.01(d) of that certain Third Amended and
Restated Purchase and Sale Agreement dated as of August 18, 2003 (said agreement, as in effect on
the date of this Certificate, being herein called the “Purchase Agreement”) among the Company,
A I M Distributors, Inc., A I M Advisors, Inc., INVESCO Funds Group, Inc., Citibank, N.A. and
Citicorp North America, Inc. Unless otherwise defined herein, capitalized terms used in this
Certificate shall have the meanings assigned to those terms in the Purchase Agreement.

     2. Attached hereto as Annex A is a copy of the Certificate of Incorporation of the Company as
in effect on the date hereof, certified by the Secretary of State of Delaware.

     3. Attached hereto as Annex B is a true and correct copy of the By-laws of the Company as in
effect on the date hereof.

     4. Attached hereto as Annex C are true and correct copies of the resolutions duly adopted by
the Board of Directors of the Company on
                    ,
200 ___ (                    , 200___, in respect of
the Transfer Agreement) which resolutions have not been revoked, modified, amended or rescinded and
are still in full force and effect, and the Purchase Agreement, Transfer Agreement, the Collection
Agency Agreement and the Servicing Agreement are in substantially the forms of those documents
submitted to, and approved by, the Board of Directors of the Company.

     5. The below-named persons have been duly elected and have duly qualified as, and at all times
since                                          (to and including the date hereof) have been, officers of the Company,
holding the respective offices below set opposite their names, and the signatures below set
opposite their names are their genuine signatures:

 

 

	 	 	 	 	 
	Name	 	Office	 	Signature
	 	 	 	 	 
	 
	 	 
	 	 
	 	 	 	 	 
	 
	 	 
	 	 
	 	 	 	 	 
	 
	 	 
	 	 
	 	 	 	 	 
	 
	 	 
	 	 

     WITNESS
my hand as of this ___ day of                     , 200___.

	 	 	 	 	 
	 	 	 
	 	By:  	
 	 
	 	 	[Secretary][Assistant Secretary] 	 
	 	 	A I M MANAGEMENT GROUP INC. 	 
	 

     I, the undersigned [President] [Vice President] of the Company, DO HEREBY CERTIFY that:

     1.                                          is the duly elected and qualified [Secretary] [Assistant Secretary] of
the Company and the signature above is [his] [her] genuine signature.

     2. Each of the Purchase Agreement, the Transfer Agreement, the Servicing Agreement, the
Collection Agency Agreement and each other Program Document to which the Company is a party is in
full force and effect on the date hereof.

     3. The representations and warranties on the part of the Company contained in the Purchase
Agreement, the Transfer Agreement, the Servicing Agreement, the Collection Agency Agreement and the
other Program Documents to which the Company is a party are true and correct at and as of the date
hereof as though made on and as of the date hereof.

     4. The conditions precedent set forth in Article III of the Purchase Agreement are fully
satisfied and no Event of Termination (or event which with the passage of time or notice, or both,
would constitute an Event of Termination) has occurred and is continuing.

     WITNESS
my hand as of this ___ day of                     , 200___

	 	 	 	 	 
	 	 	 
	 	By:  	
 	 
	 	 	[President] [Vice President] 	 
	 	 	A I M MANAGEMENT GROUP INC. 	 
	 

 

 

EXHIBIT B-3

[INSERT NAME OF ADVISOR]

Certificate

(Pursuant to Section 3.01(d) of the

Third Amended and Restated Purchase and Sale Agreement)

     I, the undersigned [Secretary] [Assistant Secretary] of [INSERT NAME OF ADVISOR], a Delaware
corporation (the “Company”), DO HEREBY CERTIFY THAT:

     1. This Certificate is furnished pursuant to Section 3.01(d) of that certain Third Amended and
Restated Purchase and Sale Agreement dated as of August 18, 2003 (said Purchase and Sale Agreement,
as in effect on the date of this Certificate, being herein called the “Purchase Agreement”) among
the Company, A I M Management Group Inc., A I M Distributors, Inc., [INSERT NAME OF OTHER ADVISOR],
Citibank, N.A. and Citicorp North America, Inc., as Program Agent. Unless otherwise defined
herein, capitalized terms used in this Certificate shall have the meanings assigned to those terms
in the Purchase Agreement.

     2. Attached hereto as Annex A is a copy of the Certificate of Incorporation of the Company as
in effect on the date hereof, certified by the Secretary of State of Delaware.

     3. Attached hereto as Annex B is a true and correct copy of the By-laws of the Company as in
effect on the date hereof.

     4. Attached hereto as Annex C is a true and correct copy of resolutions duly adopted by
unanimous consent of the Board of Directors of the Company on
___, 200___ which
resolutions have not been revoked, modified, amended or rescinded and are still in full force and
effect, and the Purchase Agreement, is in substantially the form submitted to, and approved by, the
Board of Directors of the Company.

     5. The below-named persons have been duly elected and have duly qualified as, and at all times
since                                          (to and including the date hereof) have been, officers of the Company,
holding the respective offices below set opposite their names, and the signatures below set
opposite their names are their genuine signatures:

 

 

	 	 	 	 	 
	Name	 	Office	 	Signature
	 	 	 	 	 
	 
	 	 
	 	 
	 	 	 	 	 
	 
	 	 
	 	 
	 	 	 	 	 
	 
	 	 
	 	 
	 	 	 	 	 
	 
	 	 
	 	 

     WITNESS
my hand as of this ___ day of                     , 200___.

	 	 	 	 	 
	 	 	 
	 	By:  	
 	 
	 	 	[Secretary][Assistant Secretary] 	 
	 	 	[INSERT NAME OF ADVISOR] 	 
	 

     I, the undersigned [President] [Vice President] of the Company, DO HEREBY CERTIFY that:

     1.                                          is the duly elected and qualified [Secretary] [Assistant Secretary] of
the Company and the signature above is [his] [her] genuine signature.

     2. The Purchase Agreement and each other Program Document to which the Company is a party is
in full force and effect on the date hereof.

     3. The representations and warranties on the part of the Company contained in the Purchase
Agreement and the other Program Documents to which the Company is a party are true and correct at
and as of the date hereof as though made on and as of the date hereof.

2

 

     WITNESS
my hand as of this ___ day of                     , 200___.

	 	 	 	 	 
	 	 	 
	 	By:  	
 	 
	 	 	[President] [Vice President] 	 
	 	 	[INSERT NAME OF ADVISOR] 	 
	 

 

 

IRREVOCABLE PAYMENT INSTRUCTION

A I M Distributors, Inc.

11 Greenway Plaza

Houston, Texas 77046

A I M Management Group Inc.

11 Greenway Plaza

Houston, Texas 77046

[INSERT NAME OF COMPANY]

[ADDRESS]

[INSERT NAME OF TRANSFER AGENT]

[ADDRESS]

August 18, 2003

     You are hereby notified that A I M Distributors, Inc. (the “Distributor”) has entered into an
Amended and Restated Distribution Fee Purchase Agreement dated as of August 18, 2003 (as from time
to time amended, the “Transfer Agreement”) with A I M Management Group Inc. (together with its
successors and assigns, the “Seller”) pursuant to which the Distributor has agreed to from time to
time sell, convey, assign and transfer to the Seller all of its right, title and interest in, to
and under the Receivables (defined below) relating to the sales of Shares relating to each of the
Funds (defined below) during certain specified periods. You are hereby further notified that the
Seller has entered into that certain Third Amended and Restated Purchase and Sale Agreement dated
as of August 18, 2003 (as from time to time amended, the “Purchase Agreement”) with the
Distributor, A I M Advisors, Inc. (“AAI”), INVESCO Funds Group, Inc. (“IFG”) (AAI and IFG, together
with their respective successors and assigns, the “Advisors”) Citibank, N.A. (together with its
successors and assigns, the “Purchaser”) and Citicorp North America Inc., as agent for the
Purchaser (together with its successors and assigns, the “Program Agent”), pursuant to which the
Seller will sell certain Receivables to the Purchaser.

     Capitalized terms used herein shall have the following meanings:

     “Asset Based Sales Charge” shall have the meaning set forth in Section 2830(b)(8)(A)
of the Conduct Rules.

     “Business Day” shall mean any day on which neither banks nor the New York Stock
Exchange are not authorized or required to close in New York City.

     “CDSC” shall mean with respect to Shares of any Fund, the contingent deferred sales
charges payable, either directly or by withholding from the proceeds of the redemption of the
Shares of the Fund, by the shareholders of such Fund on any redemption of Shares of such

 

 

Fund in accordance with the Distribution Plan, the Underwriting Agreement and the Prospectus
relating to such Fund and the Conduct Rules.

     “Company” shall mean [INSERT NAME OF COMPANY].

     “Complete Termination” shall, in respect of the Distribution Plan in respect of the
Shares of any Fund, (i) have the meaning assigned to such term in such Distribution Plan in effect
on the date hereof, or (ii) shall mean a complete termination of such Distribution Plan, which
results solely from a change in generally applicable law or an industry-wide action by the SEC
after October 31, 2000; provided, however, that in respect of clauses (i) and (ii)
above such termination occurs despite the Seller’s, the Advisor’s, the Distributor’s and their
affiliate’s full compliance with their respective obligations under the Purchase Agreement.

     “Conduct Rules” shall mean the Conduct Rules of the NASD, including without
limitation, Section 2830, thereof, as amended, and the rules, regulations and interpretations of
the NASD in respect thereof.

     “Distribution Plan” shall mean with respect to the Receivables relating to any Fund
the distribution plan of the Company, in respect thereto pursuant to which Shares of such Fund are
distributed by the Distributor, as the same may be amended, supplemented, waived or modified from
time to time in accordance with the Purchase Agreement, and provided no Complete Termination has
occurred, any successor or replacement distribution plan.

     “Fund” shall mean each separate series of the Company specified on Schedule I hereto,
as the same may be supplemented from time to time in accordance herewith.

     “Maximum Aggregate Sales Charge Allowable” shall mean with respect to the Receivables
relating to any Fund the maximum Asset Based Sales Charge which may be paid by the Company, in
respect of such Fund to the Distributor pursuant to the Underwriting Agreement, the Distribution
Plan and the Prospectus, together with interest thereon at the Maximum Interest Allowable, relating
to such Fund and pursuant to the “maximum sales charge rule” set forth in Section 2830 of the
Conduct Rules, assuming the Company, in respect of such Fund pays a separate Service Fee, unreduced
by payments theretofore made in respect thereof by the Company, in respect of such Fund.

     “Maximum Interest Allowable” shall mean the maximum interest which may be taken into
account under Section 2830 of the Conduct Rules in computing the Maximum Aggregate Sales Charge
Allowable.

     “Monthly Settlement Date” shall mean the twelfth (12th) Business Day of each calendar
month during the term of the Purchase Agreement.

     “NASD” shall mean NASD, Inc., or any successor entity or entities.

     “Omnibus Account” shall mean, in respect of any Fund, any account maintained by the
Transfer Agent for such Fund (or any successor transfer agent for such Fund), reflecting the record
ownership of Shares of such Fund by an entity who maintains sub-transfer agents’ records reflecting
the actual beneficial ownership of such Shares in other persons or entities.

2

 

     “Prospectus” shall mean with respect to any Fund the prospectus filed with the
Securities and Exchange Commission as a part of the Company’s Registration Statement on Form N-1A,
as amended, and shall include, without limitation, the Statement of Additional Information included
in such Registration Statement.

     “Receivables” shall mean with respect to each Fund, all of the rights under the
Underwriting Agreement, the Distribution Plan, the Prospectus and in accordance with the applicable
Conduct Rules to receive amounts paid or payable in respect of Asset Based Sales Charges (including
interest at the Maximum Interest Allowable) and CDSCs, in each case in respect of the issuance by
such Fund of Shares and in respect of Shares of any other Fund acquired in any exchange of Shares
of the Fund in question, including, without limitation, any similar amount paid or payable under
any replacement Underwriting Agreement, Distribution Plan, Prospectus or the Conduct Rules, and any
continuation payments in respect thereof paid or payable by the Company in respect of Shares of
such Fund in the event of a termination of the Distribution Plan or the Underwriting Agreement; it
being understood that such term does not include the Service Fee payable pursuant to the
Underwriting Agreement, the Distribution Plan, the Prospectus and the Conduct Rules.

     “Service Fee” shall have the meaning set forth in Section 2830(b)(9) of the Conduct
Rules.

     “Shares” shall mean in respect of any Fund, any class of shares of such Fund which are
specified on Schedule I hereto, as the same may be supplemented from time to time in accordance
herewith.

     “Specified Sub-transfer Agents” shall mean Merrill Lynch, Pierce, Fenner & Smith,
Citigroup Global Markets Inc. and Primerica Shareholder Services, together with each other
Sub-transfer Agent in respect of which the Program Agent has confirmed in writing that monthly
remittances of CDSCs by such Sub-transfer Agent is acceptable.

     “Sub-transfer Agent” shall mean, in respect of any Fund, the record owner of any
Omnibus Account.

     “Transfer Agent” shall mean [Insert name of Transfer Agent], together with its
permitted successors and assigns in such capacity.

     “Underwriting Agreement” shall mean with respect to the Receivables relating to any
Fund, the agreement between the Distributor and the Company, in respect of Shares of such Fund and
any replacement agreement as may be adopted in the future, pursuant to which the Distributor has
been appointed the principal underwriter in respect of the Receivables relating to such Fund.

     You are hereby directed to make all payments in respect of all amounts (other than Service
Fees) paid or payable by the Fund pursuant to the Underwriting Agreement, the Distribution Plan,
the Prospectus and the Conduct Rules in respect of the Receivables relating to each Fund and all
proceeds therefrom (hereinafter, “Payments”), which otherwise would be payable by you to the
Distributor by wire in immediately available funds to the dedicated demand deposit account of
Deutsche Bank Trust Company Americas (the “Collection Agent”)

3

 

entitled the “Banker’s Trust Company — A I M Demand Deposit Account”, account no. 00-325-892
(the “Demand Deposit Account”) established and maintained by the Collection Agent at 60 Wall
Street, New York, New York 10005, for further transfer by the Collection Agent to the account of
the Collection Agent entitled the “Banker’s Trust Company — A I M Collection Account”: Account
No. 14781 (the “Collection Account”), as follows:

	 	(A)	 	in the case of Asset Based Sales Charges, on or before the
eleventh (11th) Business Day of the calendar month immediately
following the calendar month to which they relate;
	 
	 	(B)	 	in the case of CDSCs withheld by any Specified Sub-transfer
Agent, on or before the eleventh (11th) Business Day of the calendar
month in which the same are withheld from the redemption proceeds of the
related Shares; and
	 
	 	(C)	 	in the case of CDSCs (other than the CDSCs described in clause
(B) above), on or before the second (2nd) Business Day of the
calendar week in which the same are withheld from the redemption proceeds of
the related Shares.

     You are further notified that:

     1. This Irrevocable Payment Instruction is delivered on behalf of the Purchaser and the
Program Agent and is irrevocable and cannot be changed without the written consent of the Program
Agent, the Distributor and the Seller; provided, however, that Schedule I hereto
may be supplemented solely to add a new series of the Company to such Schedule without the written
consent of the Program Agent;

     2. By your acknowledgment, you authorize the Distributor and the Seller to deliver a copy of
this Irrevocable Payment Instruction and your acknowledgment to the Purchaser, the Program Agent
and their respective successors and assigns; and

     3. Any payment by you other than in compliance with the directions herein shall not be deemed
to discharge your obligations in respect of the Payments.

THIS IRREVOCABLE PAYMENT INSTRUCTION SHALL BE DEEMED TO BE A CONTRACT MADE UNDER THE LAWS OF THE
STATE OF NEW YORK AND FOR ALL PURPOSES SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE
LAWS OF SAID STATE WITHOUT REGARD TO ITS CONFLICTS OF LAWS PROVISIONS.

4

 

     By your execution of this Irrevocable Payment Instruction you hereby acknowledge and agree to
abide by the foregoing instructions, it being understood that such acknowledgment and waiver does
not constitute a waiver of any defenses.

	 	 	 	 	 
	 	A I M DISTRIBUTORS, INC.

 	 
	 	By:  	 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 
	 	A I M MANAGEMENT GROUP INC.

 	 
	 	By:  	 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 

Acknowledged and

Agreed to as of the date

first written above:

[INSERT NAME OF COMPANY]

	 	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Authorized Signatory
	 	 
	 
	 	 	 	 
	[INSERT NAME OF TRANSFER AGENT]
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Authorized Signatory
	 	 

 

 

Schedule I

	 	 	 
	Fund	 	Shares
	 
	 	 

 

 

EXHIBIT D

ADDITIONAL ELIGIBLE FUND ADDENDUM

     Reference is hereby made to that certain Third Amended and Restated Purchase and Sale
Agreement dated as of August 18, 2003 (as from time to time amended, supplemented, waived or
modified, the “Purchase Agreement”) among A I M Management Group Inc. (together with its permitted
successors and assigns, the “Seller”), A I M Distributors, Inc. (together with its successors and
assigns, the “Distributor”), A I M Advisors, Inc. (together with its successors and assigns, the
“AAI”), INVESCO Funds Group, Inc. (together with its successors and assigns, “IFG”), Citibank, N.A.
(together with its successors and assigns, the “Purchaser”) and Citicorp North America, Inc., as
agent for the Purchaser (together with its permitted successors and assigns, the “Program Agent”).
Capitalized terms used herein and not otherwise defined herein shall have the respective meanings
assigned to such terms in the Purchase Agreement.

     Pursuant to the terms of Section 2.03 of the Purchase Agreement, the Seller hereby requests
that effective as of the Addition Effective Date [INSERT NAME OF FUND] a series of [INSERT NAME OF
COMPANY], an Additional Eligible Fund, become a “Fund” under and for all purposes of the Purchase
Agreement[and that [INSERT NAME OF COMPANY], an investment company registered with the SEC under
the Investment Company Act (the “Additional Company”) become a “Company” under and for all purposes
of the Purchase Agreement].*

     On and as of the Addition Effective Date, (i) such Additional Eligible Fund shall become a
Fund under and for all purposes of the Purchase Agreement, the Servicing Agreement, the Transfer
Agreement and the other Program Documents [and the Additional Company shall become a Company under
and for all other purposes of the Purchase Agreement and the other Program Documents],*
(ii) the Purchase Agreement, the Servicing Agreement and the Collection Agency Agreement shall be
deemed to be supplemented to reflect the addition of such Additional Eligible Fund [and the
addition of the Additional Company],* and (iii) any reference in the Purchase Agreement
to the effectiveness on the date of the Purchase Agreement of, or any change or modification since
the date of the Purchase Agreement to the Underwriting Agreement, the Distribution Plan, the
Advisory Agreement, the Prospectus, the CDSC arrangement or Fundamental Investment Objectives in
respect of such Additional Eligible Fund shall be deemed to refer to the effectiveness thereof on,
and any change or modification thereof since, the Addition Effective Date.

     In addition, on the Addition Effective Date the [SPECIFY PROGRAM DOCUMENT] shall be amended as
follows: [SPECIFY NECESSARY AMENDMENTS, IF ANY, TO WHICH THE PROGRAM AGENT HAS CONSENTED].

 

			
	*	 	Insert if investment company relating to the Additional
Eligible Fund is not an existing “Company” under the Purchase Agreement.

 

 

     On and as of the Addition Effective Date, Schedule II to the Purchase Agreement is hereby
supplemented to add the following information under each heading:

	 	 	 
	COMPANY	 	 
	[INSERT NAME OF

ADDITIONALCOMPANY]*

	 	 

	 	 	 
	FUNDS	 	SHARES
	[INSERT NAME OF 

ADDITIONAL 

ELIGIBLE FUND]
	 	Class ___

     In addition, on and as of the Addition Effective Date, Schedule IV to the Purchase Agreement
is hereby supplemented to add the following information under each heading:

	 	 	 
	 	 	FUNDAMENTAL INVESTMENT
	FUND	 	OBJECTIVES
	 
	 	 

     Each of the Seller, the Distributor and [AAI][IFG]** represents and
warrants to the Program Agent and the Purchaser that, on and immediately after the Addition
Effective Date, (i) attached hereto as Annexes A, B, C and D are true, correct and complete copies
of the Underwriting Agreement, Prospectus, Distribution Plan and Advisory Agreement relating to
such Additional Eligible Fund in effect on the date hereof, (ii) the representations and warranties
of the Seller, the Distributor and [AAI][IFG]** contained in Article IV of the Purchase Agreement
are true and correct in all respects, (iii) no Event of Termination (or event which with the
passage of time or notice, or both, would constitute an Event of Termination has occurred, and
(iv) the conditions precedent set forth in Article III to the Purchase Agreement are satisfied.

 

			
	*	 	Insert if investment company relating to the Additional
Eligible Fund is not an existing “Company” under the Purchase Agreement.
	 
	**	 	Specify applicable Advisor.

2

 

     The Addition Effective Date shall occur when (a) a counterpart hereof, signed by the
Distributor, [AAI][IFG],** the Seller and the Program Agent has been received by the Program Agent,
and (b) the other requirements described in Section 2.03 of the Purchase Agreement have been fully
satisfied.

	 	 	 	 	 
	 	A I M MANAGEMENT GROUP INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Acknowledged and Agreed to

as of                                         , ___

A I M DISTRIBUTORS, INC.

	 	 	 	 	 
	By:
	 	 	 	 
	Name:

	 	 

	 	 
	Title:
	 	 	 	 
	 
	 	 	 	 
	[SPECIFY APPLICABLE ADVISOR]
	 
	 	 	 	 
	By:
	 	 	 	 
	Name:

	 	 

	 	 
	Title:
	 	 	 	 
	 
	 	 	 	 
	CITICORP NORTH AMERICA, INC.,
	as Program Agent
	 
	 	 	 	 
	By:
	 	 	 	 
	Name:

	 	 

	 	 
	Title:
	 	 	 	 

 

 

	 	 	 	 	 
	[DEUTSCHE BANK TRUST 

COMPANY AMERICAS,
	as Collection Agent
	 
	 	 	 	 
	By:
	 	 	 	 
	Name:

	 	 
 	 	 
	Title:1
	 	 	 	 

 

			
	1.	 	Required if Collection Agency Agreement is to be amended.

 

 

ANNEX A

UNDERWRITING AGREEMENT OF

[INSERT NAME OF ADDITIONAL ELIGIBLE FUND]

 

 

ANNEX B

PROSPECTUS OF

[INSERT NAME OF ADDITIONAL ELIGIBLE FUND]

 

 

ANNEX C

DISTRIBUTION PLAN OF

[INSERT NAME OF ADDITIONAL ELIGIBLE FUND]

 

 

ANNEX D

ADVISORY AGREEMENT OF

[INSERT NAME OF ADDITIONAL ELIGIBLE FUND]

 

 

EXHIBIT E

TO PURCHASE AND SALE AGREEMENT

PROCEDURES FOR ALLOCATING RECEIVABLES AND SHARES

          Receivables in respect of each Fund shall be allocated between Purchased Receivables and
Receivables which do not constitute Purchased Receivables in accordance with the rules set forth in
clauses (A), (B) and (C) below. Clause (A) attributes each Share either to the Seller or to the
Purchaser. Clauses (B) and (C) allocate Receivables to the Purchaser and the Seller with reference
to the Shares which have been attributed to each in accordance with clause (A). Unless otherwise
defined herein, defined terms used herein shall have the meanings assigned to such terms in
Appendix A to the Purchase and Sale Agreement.

          (A) Attribution of Shares: Shares of each Fund outstanding from time to time shall be
attributed to either the Purchaser or the Seller in accordance with the following rules:

          (1) Commission Shares: Each Commission Share is specifically tracked by the records
maintained by the Transfer Agent (or in the case of Omnibus Shares by the related Sub-transfer
Agent) with reference to the Date of Original Issuance of the Commission Share in question or of
the Commission Share from which the Commission Share in question derived through one or more
Permitted Free Exchanges.

          The following Commission Shares outstanding from time to time shall be attributed to the
Purchaser: (a) Commission Shares issued other than in a Permitted Free Exchange, the Date of
Original Issuance of which occurs on or after the Inception Date and on or prior to the last Sale
Cutoff Date, including without limitation, all Commission Shares which constitute Floating Rate
Fund Exchange Shares, and (b) Commission Shares issued in a Permitted Free Exchange for Shares of
another Fund which were attributed to the Purchaser in accordance with this paragraph (1) of this
clause (A).

          The following Commission Shares outstanding from time to time shall be attributed to the
Seller: (a) Commission Shares issued other than in a Permitted Free Exchange, the Date of Original
Issuance of which occurs prior to the Inception Date, (b) Commission Shares issued other than in a
Permitted Free Exchange, the Date of Original Issuance of which occurs after the last Sale Cutoff
Date, (c) all Commission Shares of such Fund which constitute Excluded Shares, and (d) Commission
Shares issued in a Permitted Free Exchange for Shares of another Fund which were attributed to
Seller in accordance with this paragraph (1) of this clause (A).

          (2) Free Shares (other than Omnibus Shares):

          A Free Share (other than an Omnibus Share) of any Fund will be attributed to the Purchaser or
the Seller in accordance with the Transfer Agent Reports of the Transfer Agent for such Fund.

          (3) Omnibus Shares:

 

 

          (a) Omnibus Shares of any Fund which are Commission Shares shall be attributed to the
Purchaser or the Seller, as the case may be, in the same manner as outstanding Commission Shares of
such Fund which do not constitute Omnibus Shares are attributed to such parties.

          (b) Omnibus Shares of any Fund which are Free Shares outstanding on any date shall be
attributed to the Purchaser or the Seller pursuant to the following rules:

     (i) Such attributions shall be made separately for the Omnibus Shares held in each
individual Omnibus Account of such Fund, and the result of each such separate computation
shall be aggregated to provide the total Free Shares attributable to the Purchaser and the
Seller.

     (ii) Free Shares which are Omnibus Shares issued (other than in connection with
Permitted Free Exchanges) during any calendar month shall be attributed to the Purchaser and
the Seller as of the end of such calendar month in a number computed as follows:

A x (B/C)

where:

	 	 	 	 	 
	 	A =	 	 	Omnibus Shares which are Free Shares issued (other than in connection with
Permitted Free Exchanges) during such calendar month.

	 	 	 	 	 

	 	B =	 	 	Commission Shares and Free Shares which are Omnibus Shares deemed to be
attributed to the Purchaser or the Seller, as the case may be, and outstanding as of
the close of business on the last day of the immediately preceding calendar month in
accordance with this Exhibit E.

	 	 	 	 	 

	 	C =	 	 	Total number of Commission Shares and Free Shares which are Omnibus Shares
outstanding as of the close of business on the last day of the immediately preceding
calendar month.

     (iii) Free Shares which are Omnibus Shares and redeemed (other than in connection with
Permitted Free Exchanges) during any calendar month shall be attributed to the Purchaser and
the Seller as of the end of such calendar month in a number computed as follows:

A x (B/C)

     where:

	 	 	 	 	 
	 	A =	 	 	Omnibus Shares which are Free Shares redeemed (other than in connection with
Permitted Free Exchanges) during such calendar month.

2

 

	 	 	 	 	 
	 	B =	 	 	Free Shares which are Omnibus Shares deemed to be attributed to the Purchaser
or the Seller, as the case may be, and outstanding as of the last day of the
immediately preceding calendar month in accordance with this Exhibit E.

	 	 	 	 	 

	 	C =	 	 	Total number of Free Shares which are Omnibus Shares outstanding as of the
close of business on the last day of the immediately preceding calendar month in
accordance with this Exhibit E.

     (iv) Free Shares which are Omnibus Shares exchanged into or out of a specific Fund
during any calendar month (such amount, which may be a positive or negative number, the “Net
Exchange Shares”) shall be computed as follows:

A – B – C + D

where:

	 	 	 	 	 
	 	A =	 	 	Total number of Free Shares which are Omnibus Shares outstanding as of the
close of business on the last day of the current calendar month.

	 	 	 	 	 

	 	B =	 	 	Total number of Free Shares which are Omnibus Shares outstanding as of the
close of business on the last day of the immediately preceding calendar month.

	 	 	 	 	 

	 	C =	 	 	Total number of Free Shares which are Omnibus Shares and issued during the
current calendar month and allocated among the Purchaser and the Seller in accordance
with clause (ii) immediately above.

	 	 	 	 	 

	 	D =	 	 	Total number of Free Shares which are Omnibus Shares and redeemed during the
current calendar month and allocated among the Purchaser and the Seller in accordance
with clause (iii) immediately above.

The amount of Net Exchange Shares computed for a given calendar month shall be attributed to
the Purchaser and the Seller as of the end of such calendar month in a number computed as
follows:

E x (F/G)

where:

	 	 	 	 	 
	 	E =	 	 	Total number of Net Exchange Shares computed in a given month as of the close
of business on the last day of the current calendar month.

	 	 	 	 	 

	 	F =	 	 	Free Shares which are Omnibus Shares deemed to be attributed to the Purchaser
or the Seller, as the case may be, and outstanding as of the close of business on the
last day of the immediately preceding calendar month in accordance with this Exhibit E.

3

 

	 	 	 	 	 
	 	G =	 	 	Total number of Free Shares which are Omnibus Shares outstanding as of the
close of business on the last day of the immediately preceding calendar month.

     (d) (i) If as of the close of business on the last day of any calendar month, Free
Shares which constitute Non-Omnibus Shares of any Fund are attributed to the Seller under
paragraph 2 of this Exhibit E and there are no Commission Shares which constitute
Non-Omnibus Shares attributed to the Seller in respect of such Fund, such Free Shares shall
be attributed to the Purchaser. If as of the close of business on the last day of any
calendar month Free Shares which constitute Omnibus Shares of any Fund in any Omnibus
Account are attributable to the Seller under paragraph 2 of this Exhibit E and there are no
Commission Shares in such Omnibus Account in respect of such Fund attributed to the Seller,
such Free Shares shall be attributed to the Purchaser.

     (ii) If as of the close of business on the last day of any calendar month, Free Shares
which constitute Non-Omnibus Shares of any Fund are attributed to the Purchaser under
paragraph 2 of this Exhibit E and there are no Commission Shares which constitute
Non-Omnibus Shares attributed to the Purchaser in respect of such Fund, such Free Shares
shall be attributed to the Seller. If as of the close of business on the last day of any
calendar month Free Shares which constitute Omnibus Shares of any Fund in any Omnibus
Account are attributable to the Purchaser under paragraph 2 of this Exhibit E and there are
no Commission Shares in such Omnibus Account in respect of such Fund attributed to the
Purchaser, such Free Shares shall be attributed to the Seller.

          (B) Receivables Constituting CDSCs: Except with respect to ML Omnibus Shares to the
extent set forth in clause (2) below, Receivables constituting CDSCs will be allocated to the
Purchaser and the Seller depending upon whether the related redeemed Shares were attributed to the
Purchaser or the Seller in accordance with clause (A) above.

          (1) CDSCs relating to Non-Omnibus Shares, ML Omnibus Shares and Omnibus Shares for such Fund
shall be allocated between the Purchaser and the Seller on or prior to the tenth (10th)
Business Day of the calendar month immediately succeeding the calendar month in which they are
remitted to the Demand Deposit Account for further credit to the Collection Account.

          (2) Adjustment Amounts. Any difference between CDSCs relating to ML Omnibus Shares of
such Fund remitted to the Demand Deposit Account and the CDSCs relating to ML Omnibus Shares of
such Fund reported in the ML Omnibus Redemption Report, which will accompany the Purchaser Report
(such difference, the “Adjustment Amount”), will be allocated as follows:

	 	 	 	 	 	 	 
	 

	 	ADJ X
	 	PMLCDSC	 	 
	 

	 	 	 	 

FMLCDSC
	 	 

where:

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	ADJ	 	 	=	 	 	Adjustment Amount for such ML Omnibus Shares.

4

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	PMLCDSC	 	 	=	 	 	The aggregate of all CDSCs for such ML Omnibus Shares shown on the ML
Omnibus Redemption Report, except ML Omnibus Shares attributed to the Seller as
specified therein, in accordance with these Allocation Procedures.

	 	 	 	 	 	 	 	 	 	 	 

	 	 	 	 	FMLCDSC	 	 	=	 	 	The total CDSC amount for such ML Omnibus Shares shown on the ML Omnibus
Redemption Report.

          The balance of the Adjustment Amount shall be attributed to the Seller.

          In any month in which a Calculation Event specified in clause (i) of the definition thereof
shall have occurred in respect of the ML Omnibus Shares, the ML Omnibus Shares shall be allocated
between the Purchaser and the Seller in accordance with clause (A) above. In any month in which a
Calculation Event specified in clause (ii) of the definition thereof shall have occurred, CDSCs
relating to ML Omnibus Shares shall be allocated between the Purchaser and the Seller depending
upon whether the related redeemed Shares were attributed to the Purchaser or the Seller in
accordance with clause (A) above until the aggregate Adjustment Amounts for all Funds do not exceed
three percent of the total CDSCs collected and remitted to the Demand Deposit Account in such
month. The remaining Adjustment Amounts will be allocated and distributed as described immediately
above.

          (C) Receivables Constituting Asset Based Sales Charges: The Asset Based Sales Charges
accruing to the Purchaser during any calendar month shall be computed and allocated as follows:

	 	 	 	 	 	 	 
	 

	 	A X
	 	(B + C)/2	 	 
	 

	 	 	 	 

(D + E)/2
	 	 

where:

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	A.	 	 	=	 	 	Total amount of Asset Based Sales Charges accrued
during such calendar month.

	 	 	 	 	 	 	 	 	 	 	 

	 	 	 	 	B.	 	 	=	 	 	Shares attributed to the Purchaser and outstanding,
as of the close of business on the last day of the
immediately preceding calendar month, times Net Asset
Value per Share as of such time.

	 	 	 	 	 	 	 	 	 	 	 

	 	 	 	 	C.	 	 	=	 	 	Shares attributed to the Purchaser and outstanding,
as of the close of business on the last day of such
calendar month, times Net Asset Value per Share as of
such time.

	 	 	 	 	 	 	 	 	 	 	 

	 	 	 	 	D.	 	 	=	 	 	Total Shares outstanding as of the close of business
on the last day of the immediately preceding calendar
month, times Net Asset Value per Share as of such
time.

5

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	E.	 	 	=	 	 	Total Shares outstanding as of the close of business
on the last day of such calendar month, times Net
Asset Value per Share as of such time.

          The balance of the Asset Based Sales Charges of such Fund accruing during such calendar month
shall be allocated to the Seller. The allocations contemplated by this paragraph shall be made on
or prior to the tenth (10th) Business Day of the immediately following calendar month.

          Notwithstanding anything in this clause (C) to the contrary, if during any calendar month
there has been a waiver of the portion of the Asset Based Sales Charges relating to the Purchaser’s
New Shares of the INVESCO Cash Reserves Fund or the AIM Money Market Fund (any such affected Fund,
a “Subject Fund”) in accordance with the Waiver Agreement, then for purposes of allocating the
Asset Based Sales Charges accruing during such calendar month in respect of such Subject Fund
between the Purchaser and the Seller (x) the amount of the Asset Based Sales Charges accrued during
such calendar month in respect of such Subject Fund shall be deemed to be the total amount of the
Asset Based Sales Charges that would have accrued in respect of such Subject Fund if no waiver of
any Asset Based Sales Charges in respect of Purchaser’s New Shares had occurred, and (y) the Asset
Based Sales Charges allocated to the Purchaser pursuant to this clause (C) shall be reduced by an
amount equal to the Asset Based Sales Charges accrued during such calendar month in respect of such
Subject Fund which were waived by the Purchaser under the Waiver Agreement.

          (D) In General. For purposes of the foregoing: (1) Shares will be deemed to be
issued, redeemed, exchanged and converted to class A shares (including without limitation by each
Sub-transfer Agent) in accordance with the rules used by the Transfer Agent for each Fund. All
allocations included in this Exhibit E shall be reported in the relevant Purchaser Report and all
computations required to confirm such allocations shall be included in the relevant Purchaser
Report, the Transfer Agent Reports and the Sub-transfer Agent Reports delivered to the Program
Agent; and (2) notwithstanding anything to the contrary set forth above: (i) all Shares of any Fund
attributed to the Seller with reference to Commission Shares issued prior to the Inception Date for
such Fund shall be deemed to have been redeemed at the point in time when the aggregate amount of
the CDSCs and Asset Based Sales Charges theretofore allocated to the Seller in respect of such
Shares shall equal the Maximum Aggregate Sales Charge Allowable in respect of the Shares of such
Fund on the assumption that the only Commission Shares issued by such Fund were the Commission
Shares of such Fund issued prior to the Inception Date for such Fund which were attributed to
Seller through such point in time; and (ii) all Shares of any Fund attributed to the Purchaser
shall be deemed to have been redeemed at the point in time when the Collection Agency Agreement
terminates in accordance with Section 14 thereof.

          For purposes of paragraph (2) of clause (A) above, if the form of any Transfer Agent Report or
the practices or capabilities of the Transfer Agent in respect of any Fund change after August 18,
2003 and as a result of such changes the attributions of Free Shares (other than Omnibus Shares)
contemplated by paragraph (2) of clause (A) above no longer reach results which are consistent with
the results obtained under this Exhibit E if the form of such Transfer

6

 

Agent Report or the practices or capability of the Transfer Agent had not changed, then at the
request of the Program Agent or the Seller, the Purchaser, the Program Agent and the Seller shall
negotiate in good faith to cause the Transfer Agent to generate Transfer Agent Reports or to adjust
the Allocation Procedures as may be necessary to reach results consistent with those that would
have been produced if such report had not changed; provided, that if such parties cannot
reach agreement on such modifications within a reasonable period of time after the date of any such
change, the parties shall submit the question to arbitration in accordance with the commercial
arbitration rules of the American Arbitration Association and the decision reached by the
arbitrator shall be final and binding on the parties hereto.

7

 

EXHIBIT F

FORM OF TAKE-OUT NOTICE

	 	 	 
	 

	 	[Date]

A I M Management Group Inc.

11 Greenway Plaza

Suite 1919

Houston, Texas 77046

A I M Distributors, Inc.

11 Greenway Plaza

Suite 1919

Houston, Texas 77046

Ladies and Gentlemen:

          Pursuant to that certain Third Amended and Restated Purchase and Sale Agreement dated as of
August 18, 2003 (as amended and supplemented, the Purchase Agreement) among A I M Management Group
Inc., A I M Distributors, Inc., A I M Advisors, Inc., INVESCO Funds Group, Inc., Citibank N.A. and
the undersigned Citicorp North America, Inc., we hereby deliver this Take-out Notice advising you
that the Purchaser completed a Take-out Transaction [stipulate transaction]. The “Take-out
Adjustment Amount” in connection with such Take-out Transaction is $                    . Capitalized terms
used herein and which are not otherwise defined herein shall have the meanings assigned to such
terms in the Purchase Agreement.

	 	 	 	 	 	 	 
	 	 	Very truly yours,	 	 
	 
	 	 	 	 	 	 
	 	 	CITICORP NORTH AMERICA, INC.,	 	 
	 	 	     as Program Agent	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

      Authorized Signatory
	 	 

Acknowledged and agreed as of

the date first written above:

	 	 	 	 	 
	A I M MANAGEMENT GROUP INC.	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Authorized Signatory
	 	 
	 
	 	 	 	 
	A I M DISTRIBUTORS, INC.	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Authorized Signatory
	 	 

 

 

	 	 	 	 	 
	 
	 	Appendix A

	 
	 	to

	 
	 	Purchase and Sale Agreement

DEFINITIONS LIST

          The following terms have the respective meanings set forth below for all purposes of the
Purchase Agreement, the Servicing Agreement, the Collection Agency Agreement and the exhibits and
schedules thereto and the definitions of such terms are equally applicable both to the singular and
plural forms of such terms.

          “AAI” shall mean A I M Advisors, Inc.

          “Addition Effective Date” shall have the meaning assigned to such term in Section 2.03
of the Purchase Agreement.

          “Additional Eligible Fund” shall mean any additional series of any Company:

(i) which shall have in full force and effect a distribution plan, advisory
agreement and underwriting agreement, substantially identical to the comparable
documents in respect of Shares of the Funds in effect on the date hereof and to the
extent not substantially identical, which shall be in the form, scope and substance
reasonably satisfactory to the Program Agent;

(ii) with respect to which the Distributor shall act as a principal underwriter and
an Advisor shall act as investment adviser;

(iii) the fundamental investment objectives and policies of which shall be in
compliance with all Applicable Law and fundamental investment objectives and
policies of which shall be substantially comparable to the Fundamental Investment
Objectives in respect of Shares of any Fund listed on Schedule II to the Purchase
Agreement, including without limitation in respect of the risks associated with such
fundamental investment objectives, and to the extent not substantially comparable,
which shall be reasonably satisfactory to the Program Agent;

(iv) with respect to which the Distributor shall be entitled to receive CDSCs on
terms substantially identical to those existing in respect of the Funds in effect on
the date of the Purchase Agreement and to the extent not substantially identical, on
terms which shall be reasonably satisfactory to the Program Agent;

(v) with respect to which there shall be in full force and effect an Irrevocable
Payment Instruction which has been acknowledged and agreed to by the related Company
and the Transfer Agent as contemplated thereby; and

(vi) in respect of which the Seller, the applicable Advisor or the Distributor shall
have furnished to the Purchaser and the Program Agent: (A) a true and

 

 

complete copy of the prospectus for such series; (B) a true and complete copy of the
distribution plan in respect of such series; and (C) a true and complete copy of the
underwriting agreement in respect of such series.

          “Additional Eligible Fund Addendum” shall mean the addendum substantially in the form
of Exhibit D to the Purchase Agreement.

          “Adjustment Amount” shall have the meaning assigned to such term in the Allocation
Procedures.

          “Adverse Claim” shall mean any Lien of any Person other than (i) any such right or
claim of the Purchaser or the Program Agent created by or pursuant to the Purchase Agreement, and
(ii) any Lien created by the Purchaser.

          “Adverse Effect” shall mean (i) any occurrence of, or any increase in, any Adverse
Claim on the Purchased Receivables or the Collections, (ii) any occurrence of, or any increase in,
any material claims, damages, losses, liabilities, expenses, obligations, penalties or
disbursements of any kind or nature of the Purchaser or the Program Agent arising out of the
transactions contemplated by the Facility Documents, (iii) any adverse effect upon the status of
any transfer of any Receivables under the Program Documents as a True Sale, (iv) any adverse effect
upon the Seller’s (as Servicer or otherwise), any Advisor’s, the Distributor’s or any Company’s
ability to pay or perform any of its respective material obligations under any Facility Document in
a timely manner, (v) any adverse effect on the status of the Receivables as Eligible Receivables,
(vi) any adverse effect on the amount or timing of any payment of any Collections, (vii) any
adverse effect on the timely receipt by the Collection Agent of any Collections in accordance with
the terms of any Irrevocable Payment Instruction or any other Program Document, (viii) any adverse
effect on the Purchaser’s right, title or interest in the Purchased Receivables, the Collections in
respect thereto, the Collection Account, the Demand Deposit Account or the Ancillary Rights in
respect of the Purchased Receivables, (ix) any material adverse effect on any of the other rights
of the Purchaser or the Program Agent under the Facility Documents, or (x) any adverse effect on
the remedies of the Purchaser or the Program Agent under any Facility Document.

          “Advisor” shall mean each of AAI and IFG, together with their respective permitted
successors and assigns.

          “Advisory Agreement” shall mean with respect to any Fund, the agreement between the
related Advisor and the related Company in respect of such Fund and any replacement agreement as
may be adopted in the future, pursuant to which an Advisor provides investment advisory services to
such Fund, as the same may be amended, supplemented, waived or modified from time to time.

          “Affiliate” of a referenced Person shall mean (a) another Person controlling,
controlled by or under common control with such referenced Person, (b) any other Person
beneficially owning or controlling ten percent (10%) or more of the outstanding voting securities
or rights or of the interest in the capital, distributions or profits of the referenced Person, or
(c) any officer (exclusive of a “ministerial officer” with no authority to bind a Person), director
of

2

 

or partner in the referenced Person; provided, however, the term “Affiliate”
shall not be deemed to include any Company or any similar investment company or account for which
the Seller and/or its Affiliates provide the type of services contemplated by the Distribution
Plan, Underwriting Agreement or any Advisory Agreement. The terms “control”, “controlling”,
“controlled” and the like shall mean the direct or indirect possession of the power to direct or
cause the direction of the management or policies of a Person or the disposition of its assets or
properties, whether through ownership, by contract, arrangement or understanding, or otherwise.

          “AIM GT Funds” shall have the meaning set forth in Amendment No. 1 to Facility
Documents.

          “Allocation Notice” shall mean a written notice from the Program Agent to the
Collection Agent (with a copy to each of the other parties hereto) stating funds are to be
allocated in accordance with Section 4.3(a) of the Collection Agency Agreement on a more frequent
basis, which notice shall specify the frequency of such allocation.

          “Allocation Procedures” shall mean the allocation procedures attached as Exhibit E to
the Purchase Agreement.

          “Amendment No. 1 to Facility Documents” shall mean the Amendment No. 1 to Facility
Documents dated as of September 8, 1998 among the Seller, the Purchaser and the Program Agent, as
consented and agreed to by AAI.

          “Amendment No. 2 to Facility Documents” shall mean the Amendment No. 2 to Facility
Documents dated as of September 1, 1999 among the Seller, the Purchaser, the Program Agent and the
Collection Agent, as consented and agreed to by the Distributor and AAI.

          “Amendment No. 3 to Facility Documents” shall mean the Amendment No. 3 to Facility
Documents dated as of December 14, 2000 among the Seller, the Distributor, AAI, the Purchaser, the
Program Agent, and the Collection Agent.

          “Amendment No. 4 to Facility Documents” shall mean the Amendment No. 4 to Facility
Documents dated as of August 24, 2001 among the Seller, the Distributor, AAI, the Purchaser, the
Program Agent and the Collection Agent.

          “Amendment No. 5 to Facility Documents” shall mean the Amendment No. 5 to Facility
Documents dated as of August 18, 2003 among the Seller, the Distributor, IFG, AAI, the Purchaser,
the Program Agent and the Collection Agent.

          “Amortized Maximum Aggregate Sales Charge Allowable” shall mean with respect to the
Receivables relating to any Fund as of any date of determination, (i) an amount equal to the
Maximum Aggregate Sales Charge Allowable payable in respect of such Receivables, minus (ii) the
aggregate amounts paid by the applicable Company and the holders of its Shares in respect of such
Receivables.

          “Ancillary Rights” shall mean all of the Seller’s rights, remedies, title and
interests in, to and under (i) the Transfer Agreement (other than its rights to payments from the
applicable Companies and the holders of Shares of the Funds in respect of the Receivables relating
to each

3

 

Fund and the Service Fee payable under the Distribution Plans and the Underwriting Agreements)
and the other Facility Documents including, without limitation, the right to receive payments from
the Distributor pursuant thereto, (ii) all UCC financing statements covering any of the foregoing,
(iii) all Proceeds thereof, and (iv) all other rights the Seller may have in respect of the
foregoing under Applicable Law.

          “Annual Computation Date” shall mean the last day of each twelve month period ending
on the last day of each calendar month.

          “Annual Redemption Threshold” shall mean the first day during any twelve calendar
month period on which the aggregate Net Asset Values (determined with respect to each redeemed
Share as of the date of such redemption) of all Shares relating to Purchased Receivables, which
were redeemed in Free Redemptions during the portion of such period up to and including the day in
question, equals or exceeds the product of (a) the aggregate of the Net Asset Values relating to
Shares of all Funds as of the Annual Computation Date in respect of such twelve calendar month
period, and (b) two percent (2%).

          “Applicable Law” shall mean any Law of any Authority, whether domestic or foreign,
including, without limitation, all federal and state banking or securities laws, to which the
Person in question is subject or by which it or any of its property is bound.

          “Asset Based Sales Charge” shall have the meaning set forth in Section 2830(b)(8)(A)
of the Conduct Rules.

          “Assignment Agreement” shall mean the Assignment Agreement dated as of June 1, 1998
between GT Global, Inc. and the Distributor.

          “Authority” shall mean any governmental or self-regulatory authority (including,
without limitation, the NASD, the stock exchanges and the SEC), whether executive, legislative,
judicial, regulatory, administrative or other, or any combination thereof, including, without
limitation, any federal, state, territorial, county, municipal or other government or governmental
or self-regulatory agency, arbitrator, board, body, branch, bureau, commission, corporation, court,
department, instrumentality, master, mediator, panel, referee, system or other political unit or
subdivision or other entity of any of the foregoing, whether domestic or foreign.

          “Authorized Representative” shall have the meaning assigned to such term in Section
4.3(f) of the Collection Agency Agreement.

          “Authorized Representative Certificate” shall have the meaning assigned to such term
in Section 4.3(f) of the Collection Agency Agreement.

          “Bankruptcy Code” shall mean the United States Bankruptcy Code of 1978, as amended
from time to time or any similar legislation of the United States enacted in substitution or
replacement thereof.

          “Base Rate” shall mean, for any period, a fluctuating interest rate per annum as shall
be in effect from time to time which rate per annum shall at all times be equal to the higher of:

4

 

          (a) the Prime Rate; and

          (b) 1/2 of one percent per annum above the Federal Funds Rate.

          “Board of Trustees” shall mean (i) in respect of any Fund relating to a Company that
constitutes a trust, the board of trustees of such Fund, and (ii) in respect of any Fund relating
to a Company that constitutes a corporation or limited liability company, the board of directors of
such Fund.

          “Business Day” shall mean any day on which neither banks nor the New York Stock
Exchange are not authorized or required to close in New York City.

          “Calculation Date” shall mean the last day of each calendar month.

          “Calculation Event” shall mean in respect of the ML Omnibus Shares in respect of any
calendar month, the occurrence of any of the following events: (i) the Purchaser Report delivered
in respect of such calendar month shall not be accompanied by a correctly completed ML Omnibus
Redemption Report in respect of such ML Omnibus Shares, or (ii) the aggregate Adjustment Amounts
for all Funds relating to all ML Omnibus Shares shall exceed three percent (3%) of the aggregate
CDSCs remitted to the Collection Account during such calendar month.

          “Cash Equivalents” shall have the meaning assigned to such term in Section 4.4 of the
Collection Agency Agreement.

          “CDSC” shall mean with respect to Shares of any Fund, the contingent deferred sales
charges payable, either directly or by withholding from the proceeds of the redemption of the
Shares of such Fund, by the shareholders of such Fund on any redemption of Shares of such Fund in
accordance with the Distribution Plan, the Underwriting Agreement and the Prospectus relating to
such Fund and in accordance with the Conduct Rules, as set forth in Schedule III to the Purchase
Agreement.

          “Change in Control” shall mean a change in “control” within the meaning of Section
2(a)(9) of the Investment Company Act.

          “Citibank” shall mean Citibank, N.A.

          “Code” shall mean the Internal Revenue Code of 1986, as amended from time to time and
the regulations promulgated and the rulings issued thereunder.

          “Collection Account” shall have the meaning assigned to such term in Section 4.1 of
the Collection Agency Agreement.

          “Collection Agency Agreement” shall mean the Third Amended and Restated Collection
Agency Agreement, dated as of August 18, 2003, among the Purchaser, the Program Agent, the Seller
and the Collection Agent, as the same may from time to time be amended, supplemented, waived or
modified.

5

 

          “Collection Agent” shall mean Deutsche Bank Trust Company Americas, as collection
agent under the Collection Agency Agreement, together with its successors and assigns.

          “Collection Agent Fee” shall have the meaning assigned to such term in Section 13 of
the Collection Agency Agreement.

          “Collections” shall mean (i) all amounts paid or payable by each Company in respect of
the Purchased Receivables relating to each Fund and by each shareholder of each Fund in respect of
the Purchased Receivables relating to such Fund (including all CDSCs payable by such shareholders
and withheld from redemption proceeds payable to such shareholder by the applicable Company) and
all amounts payable by the Distributor, the Seller and any Advisor to the Purchaser or the Program
Agent under the Program Documents in respect of any Purchased Receivables or in connection with the
Ancillary Rights related thereto; and (ii) all Proceeds of the foregoing, including, without
limitation, all amounts in or to the credit of the Collection Account payable to the Purchaser in
accordance with the terms of the Collection Agency Agreement.

          “Commission Share” shall mean, in respect of any Fund, (i) each Share of such Fund
which is issued under circumstances which would normally give rise to an obligation of the holder
of such Share to pay a CDSC upon redemption of such Share, including, without limitation, any Share
of such Fund issued in connection with a Permitted Free Exchange, and any such Share shall not
cease to be a Commission Share prior to the redemption (including a redemption in connection with a
Permitted Free Exchange) or conversion even though the obligation to pay the CDSC shall have
expired or conditions for waivers thereof shall exist, and (ii) the Seed Shares of such Fund.

          “Company” shall mean each investment company registered with the SEC under the
Investment Company Act specified on Schedule II to the Purchase Agreement, as the same may be
deemed supplemented pursuant to Section 2.03 of the Purchase Agreement.

          “Complete Termination” shall, in respect of the Distribution Plan in respect of the
Shares of any Fund, (i) have the meaning assigned to such term in such Distribution Plan in effect
on the date hereof, or (ii) shall mean a complete termination of such Distribution Plan, which
results solely from a change in generally Applicable Law or an industry-wide action by the SEC
after October 31, 2000; provided, however, that in respect of clauses (i) and (ii)
above such termination occurs despite the Seller’s, each Advisor’s, the Distributor’s and their
Affiliate’s full compliance with their respective obligations under the Facility Documents.

          “Conduct Rules” shall mean the Conduct Rules of the NASD, including without limitation
Section 2830, thereof, as amended, and the rules, regulations and interpretations of the NASD in
respect thereto.

          “Conversion Feature” shall mean with respect to any Share of any Fund, a mandatory or
elective provision (including, without limitation, a provision which permits or requires such Share
to be converted into a share of a different class) which may result in a reduction or termination
of any amount owing from the related Company in respect of such

6

 

Share or the shareholder in respect of the Receivable relating to such Share (or the Share
obtained by virtue of a conversion of such Share) at some point in the future.

          “Date of Original Issuance” shall mean in respect of any Commission Share of any Fund,
the date with reference to which the amount of the CDSC payable on redemption thereof, if any, is
computed.

          “Debt” of any Person shall mean at any date, without duplication, (i) all obligations
of such Person for borrowed money, (ii) all obligations of such Person evidenced by bonds,
debentures, notes or other similar instruments, (iii) all obligations of such Person to pay the
deferred purchase price of property or services, (iv) all obligations of such Person as lessee
under leases or other agreements which have been or should be included in determining total
liabilities in accordance with GAAP, (v) liabilities in respect of unfunded benefits under any
Plan, and (vi) all Secured or Guaranteed Debt.

          “Demand Deposit Account” shall have the meaning assigned to such term in Section 4.1
of the Collection Agency Agreement.

          “Deposited Funds” shall mean, all funds at any time and from time to time on deposit
in or otherwise to the credit of the Collection Account, including without limitation, the Cash
Equivalents.

          “Distribution Plan” shall mean with respect to the Receivables relating to any Fund
the distribution plan of the related Company in respect thereto pursuant to which Shares of such
Fund are distributed by the Distributor, as the same may be amended, supplemented, waived or
modified from time to time in accordance with the Facility Documents, and provided no Complete
Termination has occurred, any successor or replacement distribution plan.

          “Distributor” shall mean A I M Distributors, Inc., together with its permitted
successors and assigns.

          “Dollars” and “$” shall mean lawful money of the United States of America.

          “E-Mail Report” shall have the meaning specified in Section 3.01(b) of the Servicing
Agreement.

          “Eligible Receivable” shall mean a Receivable: (a) which constitutes an “account” or
“general intangible”, as such terms are defined in the UCC of all jurisdictions the laws of which
are applicable for determining whether the interests created by the Facility Documents are
perfected; (b) which is denominated and payable in Dollars; (c) which constitutes a legal, valid
and binding contractual obligation of the obligor thereof which is fully earned and vested, not
executory and is not subject to a dispute, offset, counterclaim, defense or Adverse Claim
whatsoever, except as enforceability may be limited by applicable bankruptcy laws and other similar
laws affecting the rights and remedies of creditors generally and equitable principles whether
considered in a proceeding in equity or law; (d) which does not contravene any Applicable Law; (e)
with respect to which the related Share does not have a Conversion Feature other than a Permitted
Conversion Feature, (f) such share is not an Excluded Share, and (g) if the Share relating to such
Receivable is a Commission Share, the terms under which the

7

 

CDSC relating thereto are payable are set forth on Schedule III to the Purchase Agreement and
such CDSC is calculated by applying the percentages set forth in such Schedule III to the lower of
the Net Asset Value of the related Share at the time such Share was issued and the Net Asset Value
of the related Share at the time such Share is redeemed.

          “Event of Termination” shall have the meaning specified in Section 6.01 of the
Purchase Agreement.

          “Exchange Act” shall mean the Securities Exchange Act of 1934, and the rules and
regulations of the SEC thereunder, all as from time to time in effect, or any successor law, rules
or regulations, and any reference to any statutory or regulatory provision shall be deemed to be a
reference to any successor statutory or regulatory provision.

          “Exchange Share” shall mean, in respect of any Fund, Shares of such Fund that were
issued in a Permitted Free Exchange of Shares of any other Fund.

          “Excluded Share” shall mean, in respect of any Fund, (i) each Share of such Fund
issued on or after September 1, 1998 in connection with an exchange of a share of the AIM Floating
Rate Fund, a closed-end mutual fund, in accordance with the prospectus of the AIM Floating Rate
Fund, (ii) each Share issued by the Fund in a Permitted Free Exchange for a Share derived from a
Share described in clause (i) above, and (iii) each Seed Share issued by such Fund.

          “Existing AIM Purchase Agreement” shall have the meaning as set forth in the recitals
to the Purchase Agreement.

          “Existing INVESCO Purchase Agreement” shall have the meaning as set forth in the
recitals to the Purchase Agreement.

          “Existing Purchase Agreements” shall mean the Existing AIM Purchase Agreement and the
Existing INVESCO Purchase Agreement.

          “Facility Documents” shall mean each Underwriting Agreement, each Distribution Plan,
each Prospectus, the Purchase Agreement, Amendment No. 1 to Facility Documents, Amendment No. 2 to
Facility Document, Amendment No. 3 to Facility Documents, Amendment No. 4 to Facility Documents,
Amendment No. 5 to Facility Documents, the First Facility Amendment, the Waiver Agreement, the
Servicing Agreement, the Collection Agency Agreement, the Assignment Agreement, the Transfer
Agreement, each Advisory Agreement, each Transfer Agent’s Agreement and the Irrevocable Payment
Instructions, all agreements expressly referred to herein and all exhibits, schedules and annexes
thereto.

          “Federal Funds Rate” shall mean, for any period, a fluctuating interest rate per annum
equal for each day during such period to the weighted average of the rates on overnight Federal
funds transactions with members of the Federal Reserve System arranged by Federal funds brokers, as
published for such day (or, if such day is not a Business Day, for the next preceding Business Day)
by the Federal Reserve Bank of New York, or, if such rate is not so published for any day which is
a Business Day, the average of the quotations for such day on

8

 

such transactions received by Citibank from three Federal funds brokers of recognized standing
selected by it.

          “First Facility Amendment” shall mean the First Facility Amendment dated as of July 1,
2003 among IFG, IDI, the Distributor, the Purchaser and the Program Agent.

          “Floating Rate Fund Exchange Share” shall mean, in respect of any Fund, (i) each Share
of such Fund other than Excluded Shares issued in connection with an exchange of a share of the AIM
Floating Rate Fund, a closed-end mutual fund, in accordance with the prospectus of the AIM Floating
Rate Fund, and (ii) each Share issued by the Fund in a Permitted Free Exchange for a Share derived
from a Share described in clause (i) above.

          “Free Appreciation Share” shall mean, in respect of any Fund, Shares of such Fund that
were issued in a Permitted Free Exchange of Shares of any other Fund, which represent the
appreciated value of such Shares of another Fund over the initial purchase price paid for such
Shares of such other Fund.

          “Free Exchange Transaction” shall mean a transaction in which Shares of one Fund (the
“Redeeming Fund”) are exchanged for Shares of another Fund (the “Issuing Fund”) where, pursuant to
the applicable constituent documents of the Issuing Fund, the Shares issued by the Issuing Fund in
exchange for the Shares of the Redeeming Fund, are deemed to have been acquired at the time when
the exchanged Shares of the Redeeming Fund were acquired (or deemed to have been acquired).

          “Free Redemptions” shall mean a redemption of Shares of any Fund (other than
Reinvested Shares and Free Appreciation Shares of such Fund) by a shareholder of such Fund under
any arrangement which relieves or defers, in whole or in part, such shareholder’s obligation to pay
the maximum CDSC which would have been payable in the absence of such arrangement by any other
shareholder of such Fund redeeming a Share of such Fund that had been held by such other
shareholder for the same period the Shares of such Fund had been held by the shareholder in
question, including, without limitation, (i) arrangements pursuant to which certain Persons are
entitled to acquire Shares of such Fund under circumstances in which no CDSCs will be payable by
them, and (ii) arrangements pursuant to which CDSCs are deferred in connection with the redemption
of Shares of such Fund because the redeeming shareholder is reinvesting all or a portion of the
proceeds of such redemption in shares of another fund; provided, however, that the
term “Free Redemptions” shall not include any Permitted Free Exchanges.

          “Free Share” shall mean, in respect of any Fund, each Share of such Fund other than a
Commission Share, including, without limitation, any Reinvested Share.

          “Fund” shall mean each separate series of a Company specified on Schedule II to the
Purchase Agreement, as the same may be deemed supplemented pursuant to Section 2.03 of the Purchase
Agreement.

          “Fundamental Investment Objectives” shall mean, with respect to any Fund, the
Fundamental Investment Objectives of such Fund specified in Schedule IV to the Purchase

9

 

Agreement, as the same may be amended or modified with prior written consent of the Program
Agent.

          “Funding Notice” shall mean a written notice substantially in the form attached to as
Exhibit A-2 to the Purchase Agreement.

          “Funding Period” shall mean each week commencing with Monday and ending on Sunday;
provided that the initial Funding Period shall commence on the initial Purchase Date and shall end
the following Sunday and the final Funding Period shall end on the Termination Date.

          “GAAP” shall mean generally accepted accounting principles in the United States, in
effect from time to time, consistently applied.

          “Governmental Authorizations” shall mean all franchises, permits, licenses, approvals,
consents and other authorizations of any kind of all Authorities.

          “Governmental Filings” shall mean all filings, including franchise and similar tax
filings, and the payment of all fees, assessments, interests and penalties associated with such
filings with all Authorities.

          “Guarantee” by any Person shall mean any obligation, contingent or otherwise, of such
Person directly or indirectly guaranteeing any Debt or other obligation of any other Person and,
without limiting the generality of the foregoing, any obligation, direct or indirect, contingent or
otherwise, of such Person (i) to purchase or pay (or advance or supply funds for the purchase or
payment of) such Debt or other obligation (whether arising by virtue of partnership arrangements,
by agreement to keep-well, to purchase assets, goods, securities or services, to take-or-pay, or to
maintain financial statement conditions or otherwise) or (ii) entered into for the purpose of
assuring in any other manner the obligee of such Debt or other obligation of the payment thereof or
to protect such obligee against loss in respect thereof (in whole or in part); provided
that the term “Guarantee” shall not include endorsements for collection or deposit in the ordinary
course of business. The term “Guarantee” used as a verb has a corresponding meaning.

          “IDI” shall mean INVESCO Distributors, Inc.

          “IFG” shall mean INVESCO Funds Group, Inc.

          “Inception Date” shall mean, with respect to any Fund, the first date upon which
Shares of such Fund were issued in a transaction taken into account in computing the Purchase Price
paid on any Purchase Date in respect of Receivables of such Fund.

          “Investment Advisers Act” shall mean the Investment Advisers Act of 1940, as amended,
and the rules and regulations of the SEC thereunder, all as from time to time in effect, or any
successor law, rules or regulations, and any reference to any statutory or regulatory provision
shall be deemed to be a reference to any successor statutory or regulatory provision.

          “Investment Company Act” shall mean the Investment Company Act of 1940, as amended,
and the rules and regulations of the SEC thereunder, all as from time to time in effect,

10

 

or any successor law, rules or regulations, and any reference to any statutory or regulatory
provision shall be deemed to be a reference to any successor statutory or regulatory provision.

          “Investment Earnings” shall mean as of any Monthly Settlement Date, the interest and
income resulting from the investment performance of the Cash Equivalents (taken as a whole), if
any, for the period from and including the immediately preceding Monthly Settlement Date to and
excluding the Monthly Settlement Date in question.

          “Investment Losses” shall mean as of any Monthly Settlement Date, the losses resulting
from the investment performance of the Cash Equivalents (taken as a whole), if any, for the period
from and including the immediately preceding Monthly Settlement Date to and excluding the Monthly
Settlement Date in question.

          “Irrevocable Payment Instruction” shall mean the Distributor’s irrevocable payment
instruction to each Company and the Transfer Agent in respect of each Fund, in the form of Exhibit
C to the Purchase Agreement.

          “Issue Price” shall mean, with respect to any Fund, the gross public offering price of
the Shares of such Fund as reported by the Transfer Agent for such Fund on the date of issuance of
such Shares.

          “Law” shall mean any (a) judicial, executive, legislative, administrative or other
action, code, consent decree, constitution, decree, directive, enactment, finding, guideline, law,
injunction, interpretation, judgment, order, ordinance, policy statement, proclamation,
promulgation, regulation, requirement, rule, rule of law, rule of public policy, settlement
agreement, statute, or writ, of any Authority, whether domestic or foreign, and whether or not
having the force of law, or any particular section, part or provision thereof, (b) common law or
other legal precedent, or (c) arbitrator’s, mediator’s or referee’s decision, finding, award or
recommendation, or, in any case, any particular section, part or provision thereof.

          “Lien” shall mean any mortgage, pledge, hypothecation, assignment, deposit
arrangement, encumbrance, lien or security interest (statutory or other), or preference, priority
or other security agreement or preferential arrangement of any kind or nature whatsoever
(including, without limitation, any conditional sale or other title retention agreement, any
financing lease having substantially the same economic effect as any of the foregoing, and the
filing of any financing statement under the UCC or comparable law of any jurisdiction), or other
charge or encumbrance, including the retained security title of a conditional vendor or lessor.

          “Liquidation Plan” shall mean with respect to any Company or any Fund, a plan of
dissolution or liquidation, a plan to dispose of a substantial portion of its assets out of the
ordinary course of business (except in connection with a Permitted Merger) or any other plan of
action with similar effect.

          “Master Trust” shall mean any trust or other special purpose entity to which any
interest in any of the Purchased Receivables relating to any Fund or the right to receive any
Collections with respect thereto has been transferred in connection with a Take-out Transaction.

11

 

          “Master Servicer” shall mean Citicorp North America, Inc., in its capacity as master
servicer for the Master Trusts, together with its successors and assigns.

          “Maximum Aggregate Sales Charge Allowable” shall mean with respect to the Receivables
relating to any Fund the maximum Asset Based Sales Charge which may be paid by the related Company,
in respect of such Fund to the Distributor pursuant to the Underwriting Agreement, the Distribution
Plan and the Prospectus, together with interest thereon at the Maximum Interest Allowable, relating
to such Fund and pursuant to the “maximum sales charge rule” set forth in Section 2830 of the
Conduct Rules, assuming the related Company, in respect of such Fund pays a separate Service Fee,
unreduced by payments theretofore made in respect thereof by such Company, in respect of such Fund.

          “Maximum Interest Allowable” shall mean the maximum interest which may be taken into
account under Section 2830 of the Conduct Rules in computing the Maximum Aggregate Sales Charge
Allowable.

          “ML Omnibus Redemption Report” shall mean the Sub-transfer Reportwhich details CDSC
collections and Share redemptions, substantially in the form provided to the Program Agent on June,
2003.

          “ML Omnibus Shares” shall mean in respect of any Fund, Omnibus Shares of such Fund
held in the name of the Merrill Lynch, Pierce, Fenner & Smith Street account on the records of the
Transfer Agent.

          “Monthly Settlement Date” shall mean the twelfth (12th) Business Day of each calendar
month during the term of the Purchase Agreement.

          “Moody’s” shall mean Moody’s Investors Service, Inc., together with its successors and
assigns.

          “NASD” shall mean NASD, Inc. or any successor entity or entities.

          “Net Asset Value” shall mean, (i) with respect to any Fund, as of the date any
determination thereof is made, the net asset value allocated to Shares of such Fund computed in the
manner such value is required to be computed by the applicable Company, in respect of such Fund in
its reports to its shareholders, and (ii) with respect to any Share of such Fund as of any date,
the quotient obtained by dividing the net asset value of such Fund (as computed in accordance with
clause (i) above) as of such date allocated to the Shares of such Fund (in accordance with the
Distribution Plan, the Underwriting Agreement and the Prospectus) by the number of Shares of such
Fund outstanding on such date.

          “Non-Omnibus Shares” shall mean, in respect of any Fund, all Shares of such Fund which
are not Omnibus Shares.

          “Normal Distributions” shall mean, in respect of any Fund for any taxable year, (a)
distributions out of “investment company taxable income”, (b) “exempt-interest dividends” and (c)
“capital gain dividends,” of such Fund, in each case, as such terms are used in Section 852 of the
Code; but only to the extent any gains giving rise to the distributions and dividends

12

 

described in clauses (a) and (c) arose in the ordinary course of such Fund’s investment
activities (including shifts in the proportion of assets held in cash or cash equivalents) and in
accordance with such Fund’s Fundamental Investment Objectives as the same may be amended,
supplemented or replaced in accordance with the Program Documents (it being understood that this
clause (c) includes gains resulting from sales to raise funds to satisfy shareholder redemption
requests made in the ordinary course of business).

          “Omnibus Account” shall mean, in respect of any Fund, any account maintained by the
Transfer Agent reflecting the record ownership of Shares of such Fund by a Person who maintains
sub-transfer agency records reflecting the actual beneficial ownership of such Shares in other
Persons.

          “Omnibus Shares” shall mean, in respect of any Fund, the Shares of such Fund held in
the name of a broker-dealer street account on records maintained by the Transfer Agent and for
which such broker-dealer provides sub-transfer agency services.

          “Permitted Banks” shall have the meaning assigned to such term in Section 4.4(a)(iv)
of the Collection Agency Agreement.

          “Permitted Change in Control” shall mean any Change in Control relating to the Seller,
the Distributor or any Advisor which satisfies the conditions specified in Schedule VI to the
Purchase Agreement.

          “Permitted Conversion Feature” shall mean with respect to any Share of any Fund, a
Conversion Feature in respect of such Fund which, by its terms, may not become effective prior to
the eighth year anniversary (seventh year anniversary in respect of any Share of the AIM Global
Trends Fund issued prior to May 29, 1998) of the issuance of such Share or, if such Share
constitutes an Exchange Share, of the Share from which such Exchange Share derives;
provided, that Free Shares of any holder relating to any Fund shall convert in proportion
to the number of Shares (other than Free Shares) of that holder in such Fund being converted on
such date.

          “Permitted Designee” shall mean, (a) the Program Agent and the Purchaser, and (b) any
officer, partner, employee, agent, representative, legal counsel, auditors or trustee designated by
the Purchaser or the Program Agent, as the case may be, which has agreed to be bound by
confidentiality undertakings in substance comparable to Section 9.10 of the Purchase Agreement;
provided, however, that any such designee appointed by the Program Agent or the
Purchaser shall not, without the consent of the Seller, be the principal underwriter of class B
shares of mutual funds.

          “Permitted Free Exchange” shall mean any exchange of Shares of one Fund (the
“Redeeming Fund”) for Exchange Shares and, perhaps Free Appreciation Shares of another Fund (the
“Issuing Fund”), where, pursuant to the applicable constituent documents of the Issuing Fund: (i)
Exchange Shares of the Issuing Fund are deemed for all purposes (including the computation of the
amount of, and timing of payment of the related CDSC) to have been acquired at the time when the
exchanged Shares of the Redeeming Fund were acquired (or deemed to have been acquired) by the
holder thereof; (ii) the exchanging shareholder becomes

13

 

obligated to pay to the Issuing Fund the same CDSC in respect of the Exchange Shares of the
Issuing Fund and on the same terms as such holder was obligated to pay to the Redeeming Fund in
respect of the Shares of the Redeeming Fund so exchanged; (iii) the date upon which such Exchange
Shares of the Issuing Fund received in the Exchange are converted pursuant to the Permitted
Conversion Feature is the same as the date the exchanged Shares of the Redeeming Fund were to be
converted pursuant to the Permitted Conversion Feature of the exchanged Shares; provided,
however, that an Exchange Share issued in respect of a Share of AIM Global Trends Fund
which was issued prior to May 29, 1998 shall have the Permitted Conversion Feature of the Fund
issuing such Exchange Share; (iv) the Maximum Aggregate Sales Charge Allowable in respect of the
Issuing Fund pursuant to the Underwriting Agreement, the Distribution Plan and the Prospectus of
the Issuing Fund is increased on the effective date of the exchange by 6.25% (or the then Maximum
Asset Based Sales Charge payable by the related Company) of the Net Asset Value on such exchange
date of the Shares of the Redeeming Fund being so exchanged; provided, that the amount of
such increase shall not exceed the Amortized Maximum Aggregate Sales Charge Allowable of the
Redeeming Fund immediately prior to the exchange; (v) the Amortized Maximum Aggregate Sales Charge
Allowable in respect of the Redeeming Fund is reduced by the same amount as the Maximum Aggregate
Sales Charge Allowable in respect of such Issuing Fund is increased; and (vi) both the redemption
of the Shares of the Redeeming Fund so exchanged and the issuance of the Shares of the Issuing Fund
are effected at the Net Asset Value of such Shares at the date of the exchange without any
reduction for fees or expenses attributable to such exchange.

          “Permitted Merger” shall mean a transfer of assets, merger or consolidation of two or
more Funds: (i) pursuant to which all of the assets of the participating Funds are transferred to
the surviving Fund, (ii) pursuant to which the surviving Fund assumes substantially all obligations
of the participating Funds, and all of the obligations of the participating Funds in respect of or
relating to the Purchased Receivables, (iii) which is carried out in a manner so that the
Distribution Plan of each of the participating Funds is continued as part of the Distribution Plan
of the surviving Fund without affecting the rights of the Distributor in respect of the Purchased
Receivables relating to the participating Funds, and (iv) which could not otherwise reasonably be
expected to have an Adverse Effect.

          “Person” shall mean an individual or a corporation (including a business trust),
partnership, trust, incorporated or unincorporated association, cooperative, joint stock company,
limited liability company, government (or an agency or political subdivision thereof) or other
entity of any kind.

          “Post-Default Rate” shall mean in respect of any amount not paid when due, a rate per
annum during the period commencing on the due date thereof until such amount is paid in full equal
to the Base Rate as in effect from time to time plus two percent (2%).

          “Prime Rate” shall mean the rate of interest from time to time announced by Citibank
at its Principal Office as its prime commercial lending rate. The Prime Rate is a reference rate
and does not necessarily represent the lowest or best rate actually charged to any customer.

14

 

          “Principal Office” shall mean the principal office of Citibank presently located at
399 Park Avenue, New York, New York.

          “Private Authorizations” shall mean all franchises, permits, licenses, approvals,
consents and other authorizations of all Persons (other than Authorities) including, without
limitation, those with respect to trademarks, service marks, trade names, copyrights, computer
software programs and technical and other know-how.

          “Proceeds” shall have, with reference to any property or asset, the meaning assigned
to such term under the UCC and, in any event, shall include, but not be limited to, whatever is
received upon the sale, exchange, collection or other disposition of such property or asset and any
and all amounts from time to time paid or payable under or in connection with such property or
asset.

          “Program Agent” shall mean Citicorp North America, Inc., as agent for the Purchaser
under the Purchase Agreement, the Collection Agency Agreement and the Servicing Agreement, together
with its successors and assigns.

          “Program Documents” shall mean the Facility Documents, the CDSC arrangements
applicable to the holders of the Shares, and the other agreements, documents and instruments
entered into or delivered by the Seller, the Distributor or any Advisor, in connection therewith,
as the same may from time to time be amended, supplemented, waived or modified.

          “Program Termination Date” shall mean the earlier of (i) the date upon which all
Shares of all Funds which relate to Purchased Receivables have been redeemed or converted pursuant
to a Permitted Conversion Feature and all amounts owing from the Seller under the Program Documents
have been paid in full, and (ii) the date upon which the Unamortized Gross Purchase Amount in
respect of Purchased Receivables relating to all Funds has been reduced to zero and all amounts
owing from the Seller under the Program Documents have been paid in full. For the avoidance of
doubt, the Seller shall not be required to determine the Unamortized Gross Purchase Amount until
such time as the Seller shall deem it necessary for the purpose of determining whether the Program
Termination Date has occurred.

          “Prospectus” shall mean with respect to any Fund the prospectus filed with the SEC as
a part of the related Company’s Registration Statement on Form N-1A, as amended, and shall include,
without limitation, the Statement of Additional Information included in such Registration
Statement.

          “Purchase Agreement” shall mean the Third Amended and Restated Purchase and Sale
Agreement dated as of August 18, 2003 among the Seller, the Distributor, the Advisors, the
Purchaser and the Program Agent, as the same may from time to time be amended, supplemented, waived
or modified.

          “Purchase Date” shall mean with respect to the Receivables relating to any Fund, each
purchase date set forth in the Purchase Notice. In the event that a Purchase Date shall fall upon
a day which is not a Business Day, the Purchase Date shall be the Business Day next following the
date on which the Purchase Date would otherwise have occurred.

15

 

          “Purchase Limit” shall mean $100,000,000, or such other amount as shall be agreed upon
in writing by the Program Agent and the Seller; provided, that on and after the Termination
Date the Purchase Limit shall be deemed to be zero for all purposes of the Purchase Agreement.

          “Purchase Notice” shall mean the notice substantially in the form of Exhibit A to the
Purchase Agreement, from the Seller to the Program Agent specifying (i) the Purchase Date, (ii) the
Purchase Price for the Receivables relating to each Fund payable on such Purchase Date, (iii) the
Sale Cutoff Date relating to the Receivables of each Fund, and (iv) the computation of each such
Purchase Price in reasonable detail.

          “Purchase Period” shall mean with respect to any Purchase Date for Receivables
relating to any Fund the period specified in the Purchase Notice delivered in respect of such
Purchase Date, which shall be the period on or prior to the Sale Cutoff Date for the Receivables
relating to such Fund set forth in such Purchase Notice and after (i) in respect of the initial
Purchase Date for such Receivables, (x) the inception date of such Fund if all of the outstanding
Shares of such Fund were issued on or after May 2, 1995, or (y) the date specified in such Purchase
Notice for such Fund if any outstanding Shares of such Fund where issued prior to May 2, 1995, and
(ii) in respect of any Purchase Date after the initial Purchase Date of such Receivables, the
immediately preceding Sale Cutoff Date for the Receivables relating to such Fund.

          “Purchase Price” shall mean with respect to the Receivables relating to any Fund to be
purchased on any Purchase Date, an amount equal to the product of (A) the then applicable Purchase
Price Percentage relating to such Fund, and (B) the total Issue Price of the Shares of such Fund
sold during the Purchase Period for such Purchase Date; provided, however, that in
the event that the Seller has received any amount in respect of the Sales Charges relating to any
Receivables proposed to be purchased hereunder, the Purchase Price for such Receivables shall be
adjusted as agreed to by the Program Agent and the Seller in order to reflect the reduced amount
payable to the Purchaser in respect of such Sales Charges and notwithstanding anything in this
Agreement to the contrary the Purchaser shall have no obligation to purchase any such Receivables
under this Agreement until such reduced Purchase Price has been so agreed upon.

          “Purchase Price Percentage” shall mean the applicable percentage specified in that
certain letter agreement dated as of August 18, 2003 between the Seller and the Program Agent.

          “Purchased Receivables” shall mean with respect to any Fund, as of any date, the
Receivables allocated to Purchaser in accordance with the Allocation Procedures.

          “Purchaser” shall mean Citibank, together with its successors and assigns.

          “Purchaser Report” shall mean the report in substantially the form of Schedule I to
the Purchase Agreement.

          “Purchaser’s Asset Based Sales Charge Portion” shall mean the portion of the Purchased
Receivables constituting Asset Based Sales Charges allocable to the Purchaser pursuant to the
Allocation Procedures.

16

 

          “Purchaser’s Assumed Yield” shall mean as of the date of any determination, an amount
(computed on a daily average basis on the basis of actual days elapsed in a year of 365 days) equal
to the Purchaser’s Assumed Yield Rate on the Unamortized Aggregate Purchase Price on such date.

          “Purchaser’s Assumed Yield Rate” shall mean a rate equal to the Prime Rate plus one
percent (1%) per annum.

          “Purchaser’s CDSC Portion” shall mean the portion of Receivables constituting CDSCs
allocable to the Purchaser pursuant to the Allocation Procedures.

          “Purchaser’s Investment Earnings” shall have the meaning assigned to such term in
Section 4.3(e) of the Collection Agency Agreement.

          “Purchaser’s New Shares” shall have the meaning assigned to such term in the Waiver
Agreement.

          “Purchaser’s Portion” shall mean the sum of (i) Purchaser’s CDSC Portion, (ii)
Purchaser’s Asset Based Sales Charge Portion, (iii) the Purchaser’s Investment Earnings, and (iv)
all other amounts (other than the Seller’s Portion) to which the Purchaser is entitled under the
Program Documents which are deposited in the Collection Account.

          “Purchaser’s Remittance Account” shall mean the account of the Purchaser (Acct. No.
3885-8117, ABA No. 021000089) maintained with Citibank or such other account as the Purchaser shall
designate in writing.

          “Receivables” shall mean with respect to each Fund, all of the rights under the
related Underwriting Agreement, the related Distribution Plan, the related Prospectus and in
accordance with the applicable Conduct Rules to receive amounts paid or payable in respect of Asset
Based Sales Charges (including interest at the Maximum Interest Allowable) and CDSCs, in each case
in respect of the issuance by such Fund of Shares and in respect of Shares of any other Fund
acquired in any Permitted Free Exchange of shares of the Fund in question, including, without
limitation, any similar amount paid or payable under any replacement Underwriting Agreement,
Distribution Plan, Prospectus or the Conduct Rules, and any continuation payments in respect
thereof paid or payable by the related Company in respect of Shares of such Fund in the event of a
termination of the related Distribution Plan or the related Underwriting Agreement; it being
understood that such term does not include the Service Fee payable pursuant to the related
Underwriting Agreement, the related Distribution Plan, the Prospectus and the Conduct Rules.

          “Reinvested Share” shall mean, in respect of any Fund, a Share which is issued by such
Fund as a result of the reinvestment of dividends or other distributions, whether ordinary income,
capital gain or exempt-interest dividends or other distributions, of such Fund.

          “Related Collections” shall mean (i) all amounts paid or payable by the applicable
Company in respect of the Receivables relating to each Fund and by each shareholder of each Fund in
respect of Receivables relating to such Fund (including all CDSCs payable by such shareholders and
withheld from redemption proceeds payable to such shareholders by the

17

 

applicable Company for payment to the Distributor and excluding Service Fees) and (ii) all
Proceeds of the foregoing, excluding, in the case of (i) and (ii) above, all Collections.

          “S&P” shall mean Standard & Poor’s Ratings Services, together with its successors and
assigns.

          “Sales Charge” shall have the meaning set forth in Section 2830 of the Conduct Rules,
it being understood that such term does not include any Service Fee.

          “Sale Cutoff Date” shall mean with respect to any Fund, the last date upon which
Shares of such Fund were issued in a transaction taken into account in computing the Purchase Price
paid on any Purchase Date in respect of the Receivables of such Fund.

          “SEC” shall mean the United States Securities and Exchange Commission or any other
governmental authority of the United States of America at the time administrating the Securities
Act, the Investment Company Act or the Exchange Act.

          “Secured or Guaranteed Debt” of any Person shall mean at any date, (i) all Debt of
others secured by a Lien on any asset of such Person, whether or not such Debt is assumed by such
Person, and (ii) all Debt of others in respect of which such Person has issued a Guarantee.

          “Securities Act” shall mean the Securities Act of 1933, as amended, and the rules and
regulations of the SEC thereunder, all as from time to time in effect, or any successor law, rules
or regulations, and any reference to any statutory or regulatory provisions shall be deemed to be a
reference to any successor statutory or regulatory provision.

          “Seed Share” shall mean in respect of a Fund, each Share of such Fund (i) which does
not have a CDSC, but which does not constitute a Free Share, and (ii) which was issued to the
Seller or an Affiliate of the Seller prior to the initial public offering of the Shares of such
Fund.1

          “Seller” shall mean A I M Management Group Inc., together with its permitted
successors and assigns.

          “Seller’s Account” shall mean the account of the Seller maintained by Bank One, ABA
No.: 071000013, Acct. No.: 1061803, Ref. A I M Management Group or such other account as the Seller
shall designate in writing to the Program Agent and the Collection Agent.

          “Seller’s Asset Based Sales Charge Portion” shall mean the portion of Receivables
constituting Asset Based Sales Charges allocable to the Seller pursuant to the Allocation
Procedures.

          “Seller’s CDSC Portion” shall mean the portion of Receivables constituting CDSCs
allocable to the Seller pursuant to the Allocation Procedures.

 

			
	1	 	The documents assume that the Seed Shares will never be
exchanged into another Fund.

18

 

          “Seller’s Class A and C CDSC Portion” shall mean the contingent deferred sales charges
payable with respect to Class A and C shares of the Funds held in the name of Merrill Lynch,
Pierce, Fenner & Smith Street Account on records maintained by the Transfer Agent. For the
avoidance of doubt, the Seller’s CDSC Portion does not include the Seller’s Class A and C CDSC
Portion.

          “Seller’s Investment Earnings” shall have the meaning assigned to such term in Section
4.3(e) of the Collection Agency Agreement.

          “Seller’s Portion” shall mean the sum of (i) Seller’s CDSC Portion, (ii) Seller’s
Asset Based Sales Charge Portion, and (iii) Seller’s Investment Earnings.

          “Selling Agent” shall mean each Person which acts as direct or indirect distributor,
underwriter, broker, dealer or agent for the Shares of a Fund together with its successors and
assigns.

          “Selling Agent’s Agreement” shall mean each agreement pursuant to which a Person
undertakes to act as Selling Agent in respect of the Shares of any Fund, as the same may from time
to time be amended, supplemented, waived or modified.

          “Service Fee” shall have the meaning set forth in Section 2830(b)(9) of the Conduct
Rules.

          “Servicer” shall mean A I M Management Group Inc., in its capacity as servicer under
the Servicing Agreement, together with its permitted successors and assigns.

          “Servicing Agreement” shall mean the Third Amended and Restated Servicing Agreement
dated as of August 18, 2003 among the Purchaser, the Program Agent and the Servicer, as the same
may from time to time be amended, supplemented, waived or modified.

          “Servicing Fee” shall have the meaning assigned to such term in the Servicing
Agreement.

          “Shares” shall mean in respect of any Fund, any class of shares of such Fund which are
specified on Schedule II to the Purchase Agreement, as the same may be deemed supplemented pursuant
to Section 2.03 of the Purchase Agreement.

          “Significant Affiliates” shall mean (i) any corporation or holding company or similar
entity which after the date hereof owns or controls the majority of the outstanding voting
securities of the Seller or any Advisor, or (ii) any Affiliate of the Seller or any Advisor which
is a subsidiary of the Seller if the Seller’s or such Advisor’s beneficial interest in the total
assets of such subsidiary is equal to or greater than five percent (5%) of the total assets of the
Seller or such Advisor, and in any event in respect of the Seller shall include the Distributor and
the Transfer Agent.

          “SIPA” shall mean the Securities Investor Protection Act of 1970, as amended from time
to time and the regulations promulgated and the rulings issued thereunder.

19

 

          “Specified Sub-transfer Agent” shall have the meaning assigned to such term in the
Irrevocable Payment Instruction.

          “Sub-transfer Agent” shall mean, in respect of any Fund, the record owner of any
Omnibus Account.

          “Sub-transfer Agent Report” shall mean in respect of any Sub-transfer Agent, the
monthly and daily reports of such Sub-transfer Agent relating to the Omnibus Shares for which sub
Sub-transfer Agent provides sub-transfer agency functions, including without limitation the ML
Omnibus Redemption Report, the forms of which have each been approved in writing by the Program
Agent.

          “Take-out Adjustment Amount” shall mean in connection with a Take-out Transaction, the
amount by which the Purchaser’s capacity to purchase Receivables has been increased as a result of
such Take-out Transaction, as set forth in the related Take-out Notice.

          “Take-out Notice” shall mean a notice from the Program Agent to the Seller,
substantially in the form attached as Exhibit F to the Purchase Agreement, stating that the
Purchaser has completed a Take-out Transaction and specifying the related Take-out Adjustment
Amount.

          “Take-out Transaction” shall mean any transaction pursuant to which the Purchaser
(including, without limitation, any Master Trust which obtains such interest directly or indirectly
from the Purchaser) sells or otherwise transfers, participates or causes to be sold, transferred or
participated interests in the Purchased Receivables relating to any Fund (including, without
limitation, the right to receive any portion of any Collections) to any Person, including a Master
Trust which publicly or privately sells debt instruments and/or certificates or other instruments
representing ownership interests in such Master Trust or interests in any Purchased Receivables
relating to any Fund (including, without limitation, any right to receive any portion of any
Collections).

          “Termination Date” shall mean December 14, 2003 or such later date as shall be agreed
to in writing by the parties to the Purchase Agreement and such earlier date as the Purchase
Agreement shall terminate pursuant to Section 6.01 of the Purchase Agreement.

          “Transfer Agent” shall mean (i) prior to October 1, 2003, A I M Fund Services, Inc.
and INVESCO Funds Group, Inc., as the case may be, and (ii) on or after October 1, 2003, A I M Fund
Services, Inc., in each case in its capacity as transfer agent for the Funds, together with their
permitted successors and assigns in such capacity.

          “Transfer Agent Reports” shall mean in respect of any Transfer Agent, the monthly and
daily reports of such Transfer Agent relating to the Non-Omnibus Shares for which such Transfer
Agent provides transfer agency functions, the forms of which have each been approved in writing by
the Program Agent.

          “Transfer Agent’s Agreement” shall mean each agreement pursuant to which the Transfer
Agent undertakes to act as transfer agent for any Fund, as the same may from time to time be
amended, supplemented, waived or modified.

20

 

          “Transfer Agreement” shall mean the Amended and Restated Distribution Fee Purchase
Agreement dated as of August 18, 2003 between the Distributor and the Seller, as the same may from
time to time be amended, supplemented, waived or modified.

          “Transferee” shall have the meaning assigned to such term in Section 9.15 of the
Purchase Agreement.

          “True Sale” shall mean, with respect to any transfer of an asset or property, the sale
of an ownership interest in such asset or property (not the granting of a security interest
therein), within the meaning of all Applicable Law, including, without limitation, the Code and the
Bankruptcy Code, and, without limiting the generality of the foregoing, which is enforceable
against all creditors of the Person making such transfer and all Affiliates of such Person in
accordance with the terms of such transfer, notwithstanding the bankruptcy, insolvency or
reorganization of, or similar proceeding with respect to, or the appointment of a receiver or
conservator of the Person making such transfer or any Affiliate of such Person, and in connection
with any proceeding under the Bankruptcy Code, in respect of which any one or more of the Person
making such transfer or any Affiliate of such Person is the “debtor”, as such term is used in the
Bankruptcy Code, the Purchased Receivables and the Proceeds thereof will not be deemed the property
of the debtor.

          “True Sale Opinion” shall mean the opinion of counsel delivered in connection with the
Purchase Agreement which addresses the questions as to whether in a case under Title 11 of the
Bankruptcy Code the conveyances of the Receivables under the Transfer Agreement and under the
Purchase Agreement would each be a true sale and not a secured financing; provided,
however, that the term “True Sale Opinion” shall be deemed to include a written
confirmation from the counsel which previously delivered a True Sale Opinion that the conclusions
reached in such prior True Sale Opinion continue to be true and correct and may be relied upon as
of the date of such written confirmation.

          “UCC” shall mean the Uniform Commercial Code, as from time to time in effect in the
applicable jurisdictions.

          “Unaffiliated Agent” shall mean any Sub-transfer Agent or Transfer Agent which is not
an Affiliate of the Seller, the Distributor or AMVESCAP plc.

          “Unamortized Aggregate Purchase Price” shall mean, in respect of the Purchased
Receivables as of any date of determination, an amount equal to the aggregate Purchase Prices paid
by the Purchaser under this Agreement in respect of all Purchased Receivables, less the sum of (i)
the portions of the aggregate amounts paid by each Company and on behalf of the holders of Shares
in respect of CDSCs and Asset Based Sales Charges to the Collection Account relating to Purchased
Receivables which have not been conveyed by the Purchaser in connection with a Take-out Transaction
for which a Take-out Notice has been executed and which have been allocated and distributed to
Citibank through such date of determination pursuant to the allocation procedures set forth in the
documentation entered into in connection with a Take-out Transaction which exceeds the accrued and
unpaid Purchaser’s Assumed Yield, and (ii) the sum of each Take-out Adjustment Amount in respect of
each Take-out Transaction specified in one or

21

 

more Take-out Notices which have been acknowledged by the Seller and the Distributor and
returned to the Program Agent on or prior to such date of determination.

          “Unamortized Gross Purchase Amount” shall mean, in respect of the Purchased
Receivables relating to any Fund, as of any date of determination, the Maximum Aggregate Sales
Charge Allowable in respect of Shares relating to such Purchased Receivables, minus the sum of (a)
the aggregate amounts paid by the applicable Company (including amounts paid by the holders of
Shares of such Fund in respect of CDSCs) in respect of Shares of such Fund and deposited in the
Collection Account and applied and distributed to the payment of such Purchased Receivables in
accordance with the terms of the Collection Agency Agreement through such date of determination,
and (b) if such Fund constitutes an AIM GT Fund, the aggregate amounts paid by the applicable
Company (including amounts paid by the holders of Shares of such AIM GT Fund in respect of CDSCs)
on or prior to August 31, 1998 to GT Global, Inc. or the Distributor.

          “Underwriting Agreement” shall mean with respect to the Shares relating to any Fund,
the agreement between the Distributor and the applicable Company, in respect of Shares of such Fund
and any replacement agreement as may be adopted in the future, pursuant to which the Distributor
has been appointed the principal underwriter in respect of the Shares relating to such Fund.

          “Waiver Agreement” shall mean the Waiver Agreement dated as of August 18, 2003 among
the Distributor, the Seller, the Purchaser and the Program Agent, as the same may from time to time
be amended, supplemented, waived or modified.

          “Weighted Average Percentage Decline in the Net Asset Value of Shares of all Funds” in
reference to a period from one Calculation Date (the “Reference Date”) to a later Calculation Date
shall be determined by (i) determining the negative or positive percentage change in the Net Asset
Value per Share which relates to Purchased Receivables of each Fund from the Reference Date to such
later Calculation Date, (ii) computing the arithmetic sum of the products obtained by multiplying
the percentage change obtained in clause (i) for Shares relating to Purchased Receivables of each
Fund by the Net Asset Value of such Shares of such Fund on such later Calculation Date, and (iii)
if the sum obtained in clause (ii) is negative dividing the sum obtained in clause (ii) by the Net
Asset Value of all Shares which relate to Purchased Receivables of all Funds on such later
Calculation Date and expressing the result as a negative percentage, and if the sum obtained in
clause (iii) is positive the “Weighted Average Percentage Decline in the Net Asset Value of Shares
of all Funds” shall be zero.

22EX-10.4 AMENDMENT NO. 5 TO FACILITY DOCUMENTS

 

EXHIBIT 10.4

AMENDMENT NO. 5 TO FACILITY DOCUMENTS

          AMENDMENT NO. 5 TO FACILITY DOCUMENTS dated as of August 18, 2003 (the “Amendment”) among
INVESCO FUNDS GROUP, INC. (together with its successors and assigns, “IFG”), A I M MANAGEMENT GROUP
INC., (together with its successors and assigns, “AMG”), A I M ADVISORS, INC. (together with its
successors and assigns, “AAI”, and each of AAI and IFG an “Advisor”, and collectively, the
“Advisors”), A I M DISTRIBUTORS, INC. (together with its successors and assigns, the
“Distributor”), CITIBANK, N.A. (together with its successors and assigns, the “Purchaser”),
CITICORP NORTH AMERICA, INC. (together with its successors and assigns, the “Program Agent”) and
DEUTSCHE BANK TRUST COMPANY AMERICAS (together with its successors and assigns, the “Collection
Agent”).

W I T N E S S E T H

          WHEREAS, IFG, the Distributor, the Purchaser and the Program Agent have entered into that
certain Purchase and Sale Agreement dated as of December 14, 2000 (as amended and supplemented
prior to the date hereof, the “Existing INVESCO Purchase Agreement”);

          WHEREAS, the Purchaser, the Program Agent and IFG, as servicer, have entered into that certain
Servicing Agreement dated as of December 14, 2000 (as amended prior to the date hereof, the
“Existing INVESCO Servicing Agreement”);

          WHEREAS, the Purchaser, the Program Agent, IFG and the Collection Agent have entered into that
certain Collection Agency Agreement dated as of December 14, 2000 (as amended prior to the date
hereof, the “Existing INVESCO Collection Agency Agreement”);

          WHEREAS, AMG, the Distributor, AAI, the Purchaser and the Program Agent have entered into that
certain Second Amended and Restated Purchase and Sale Agreement dated as of December 14, 2000 (as
amended and supplemented prior to the date hereof, the “Existing AIM Purchase Agreement,” and
collectively with the Existing INVESCO Purchase Agreement, the “Existing Purchase Agreements”);

          WHEREAS, the Purchaser, the Program Agent and AMG, as servicer, have entered into that certain
Second Amended and Restated Servicing Agreement dated as of December 14, 2000 (as amended prior to
the date hereof, the “Existing AIM Servicing Agreement,” and collectively with the Existing INVESCO
Servicing Agreement, the “Existing Servicing Agreements”);

          WHEREAS, the Purchaser, the Program Agent, AMG and the Collection Agent have entered into that
certain Second Amended and Restated Collection Agency Agreement dated as of December 14, 2000 (as
amended prior to the date hereof, the “Existing AIM

 

 

Collection Agency Agreement,” and collectively with the Existing INVESCO Collection Agency
Agreement, the “Existing Collection Agency Agreements”);

          WHEREAS, the parties to the Existing Purchase Agreements, the Existing Servicing Agreements
and the Existing Collection Agency Agreements (collectively, the “Existing Agreements”) desire to
combine, amend and restate the Existing Agreements as of the Amendment Effective Date as
hereinafter provided;

          NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants herein
contained, the parties hereto agree as follows:

          Section 1. Defined Terms.

          “Amendment Effective Date” means the later to occur of (i) the date upon which the Program
Agent shall have executed and delivered one or more counterparts of this Amendment and shall have
received one or more counterparts of this Amendment, the Restated Purchase Agreement, the Restated
Servicing Agreement and the Restated Collection Agency Agreement (as such terms are defined below)
executed by each of the other parties hereto and thereto, and (ii) the date upon which the
conditions precedent set forth in Section 6 hereof shall have been fulfilled.

          Unless otherwise defined herein, the capitalized terms used herein shall have the meanings
assigned to such terms in the Restated Purchase Agreement.

          Section 2. Assignments.

          (a) Effective as of the Amendment Effective Date, IFG hereby assigns, transfers and conveys
all of its rights, obligations and liabilities under and in connection with the Existing INVESCO
Purchase Agreement, the Existing INVESCO Servicing Agreement and the Existing INVESCO Collection
Agency Agreement to AMG, including, without limitation, the rights and obligations of IFG under
Sections 8.01, 9.04 and 9.05 of the Existing INVESCO Purchase Agreement, and AMG hereby agrees to
accept and assumes all such rights, obligations, and liabilities, all as if AMG were the original
signatory thereto; provided, however, that AMG shall not be deemed to have assumed
any obligations or liabilities of IFG in respect of (i) any breach by IFG of its obligations under
the Advisory Agreement to which IFG is a party, (ii) any failure of IFG to perform any covenant or
agreement during the period prior to the Amendment Effective Date under the Existing INVESCO
Purchase Agreement which was to be performed by IFG solely in its capacity as investment advisor
for the Funds, or (iii) any breach by IFG of any representation or warranty set forth in the
Existing INVESCO Purchase Agreement which occurred prior to the Amendment Effective Date and which
related to IFG solely in its capacity as investment adviser for any Fund (each such excluded
obligation, a “Pre-existing Advisor Obligation”).

          (b) For the avoidance of doubt, AMG confirms and agrees that it shall be responsible to the
Purchaser and the Program Agent under Sections 8.01, 9.04 and 9.05 of the Restated Purchase
Agreement, for each representation, warranty, agreement, covenant and

2

 

obligation of IFG and the Distributor under the Existing INVESCO Purchase Agreement, the Existing
INVESCO Servicing Agreement and the Existing INVESCO Collection Agency Agreement made or deemed
made on or prior to the Amendment Effective Date, except for Pre-existing Advisor Obligations.

          (c) For the avoidance of doubt, IFG hereby confirms and agrees that it shall remain
responsible to the Purchaser and the Program Agent for the Pre-existing Advisor Obligations.

          Section 3. Amendment and Restatement of the Existing Purchase Agreements.

          (a) From and after the Amendment Effective Date, the Existing Purchase Agreements shall be
combined, amended and restated as set forth on Exhibit A hereto (as so combined, amended and
restated, the “Restated Purchase Agreement”). The parties thereto shall execute a copy thereof in
the form of such exhibit in order to further evidence such combination, amendment and restatement.

          (b) The parties to the Restated Purchase Agreement hereby agree that when used with respect to
any Receivable that was originally sold under the Existing INVESCO Purchase Agreement, the
definition of “Ancillary Rights” set forth in Appendix A to the Restated Purchase Agreement shall
be deemed to include all Ancillary Rights (as defined in the Existing INVESCO Purchase Agreement)
of IFG.

          (c) The parties to the Restated Purchase Agreement hereby agree that when used with respect to
any Receivable that was originally sold under the Existing INVESCO Purchase Agreement, the
definition of “Transfer Agreement” set forth in Appendix A to the Restated Purchase Agreement shall
be deemed to refer to (i) the Distribution Fee Purchase Agreement dated as of July 1, 2003 between
the Distributor and IFG and (ii) the Distribution Fee Purchase Agreement dated as of August 23,
2000 between IFG and INVESCO Distributors, Inc.

          (d) For the avoidance of doubt, the parties to the Restated Purchase Agreement hereby
acknowledge and agree that the Unamortized Aggregate Purchase Price shall be deemed to include all
Purchase Prices paid under both the Existing INVESCO Purchase Agreement and the Existing AIM
Purchase Agreement, and all CDSCs and Asset Based Sales Charges paid by each Company under the
Existing INVESCO Purchase Agreement and the Existing AIM Purchase Agreement.

          (e) The Purchaser and the Program Agent agree that neither AMG, the Distributor nor any
Advisor shall be deemed to be in breach of the representations set forth in clauses (r) or (s) of
Section 4.01 of the Restated Purchase Agreement solely as a result of certain Asset Based Sales
Charges relating to the AIM Money Market Fund and the INVESCO Cash Reserves Fund being waived in
accordance with the Waiver Agreement.

3

 

          Section 4. Amendment and Restatement of Existing Servicing Agreements.

          From and after the Amendment Effective Date, the Existing Servicing Agreements shall be
combined, amended and restated as set forth on Exhibit B hereto (as so amended and restated the
“Restated Servicing Agreement”). The parties thereto shall execute a copy thereof in the form of
such exhibit in order to further evidence such amendment and restatement.

          Section 5. Amendment and Restatement of Existing Collection Agency Agreements.

          (a) From and after the Amendment Effective Date, the Existing Collection Agency Agreements
shall be combined, amended and restated as set forth on Exhibit C hereto (as so amended and
restated, the “Restated Collection Agency Agreement,” and collectively with the Restated Purchase
Agreement and the Restated Servicing Agreement, the “Restated Documents”). The parties thereto
shall execute a copy thereof in the form of such exhibit in order to further evidence such
amendment and restatement.

          (b) Promptly after being notified in writing by the Program Agent that the Amendment Effective
Date has occurred, the Collection Agent shall (i) remit all amounts on deposit in or credited to
the Demand Deposit Account or Collection Account (each as defined in the Existing INVESCO
Collection Agency Agreement) to the Demand Deposit Account (as defined in the Restated Collection
Agency Agreement) for further credit to the Collection Account (as defined in the Restated
Collection Agency Agreement), and (ii) close the Demand Deposit Account and the Collection Account
(as such terms are defined in the Existing INVESCO Collection Agency Agreement).

          (c) Promptly after being notified in writing by the Program Agent that the Amendment Effective
Date has occurred, the Collection Agent shall (i) remit all amounts on deposit in or credited to
the Purchaser’s Funding Account (as defined in each of the Existing Collection Agency Agreements)
to such account as the Program Agent shall designate in writing to the Collection Agent, and (ii)
close such Purchaser’s Funding Accounts.

          Section 6. Conditions Precedent to Effectiveness of this Amendment.

          The occurrence of the Amendment Effective Date shall be subject to the fulfillment of each of
the following conditions precedent:

          (a) the Program Agent shall have received such signed opinions of counsel as it shall have
reasonably requested each dated reasonably near the Amendment Effective Date and in form, scope and
substance reasonably satisfactory to the Program Agent;

          (b) the Program Agent shall have received a signed certificate of the President or a Vice
President and a Secretary or Assistant Secretary of the Distributor, AMG and each Advisor in the
form of Exhibits B-1, B-2 and B-3, respectively, to the Restated Purchase Agreement;

4

 

          (c) the Program Agent shall have received time stamped receipt copies of UCC-3 financing
statements duly filed under the UCC of all jurisdictions where UCC financing statements were
previously filed pursuant to the Existing Purchase Agreements, required in order to amend the
financing statements previously filed to reflect the Restated Purchase Agreement, which shall be in
form, scope and substance satisfactory to the Program Agent;

          (d) the Program Agent shall have received a duplicate original of each Irrevocable Payment
Instruction from AMG and the Distributor to each Company and Transfer Agent, and such Irrevocable
Payment Instructions shall be in full force and effect;

          (e) the Program Agent shall have received a fully executed copy of the Waiver Agreement, which
shall be in full force and effect;

          (f) The Program Agent shall have received a fully executed copy of the Letter Agreement dated
as of August 18, 2003 between the Seller and the Program Agent which sets forth the Purchase Price
Percentage, which shall be in full force and effect; and

          (g) the Board of Trustees of each Company in respect of each Fund shall have approved the
Distribution Plan and Underwriting Agreement relating to each Fund by a vote of the majority of its
Directors who are not interested persons, within the meaning of the Investment Company Act, in
recognition of the transactions contemplated by this Amendment and the Facility Documents, and the
Program Agent shall have received an executed copy of (i) the Distribution Plan in respect of each
Company in the form attached hereto as Exhibit D, and (ii) the Underwriting Agreement in respect of
each Company in the form attached hereto as Exhibit E, each of which shall be in full force and
effect.

          Section 7. Representations and Warranties.

          Each of AMG, the Distributor and each Advisor represent and warrant to the Purchaser and the
Program Agent that immediately after giving effect to the amendments contemplated by this Amendment
that (a) their representations and warranties set forth in Restated Documents and the other
Facility Documents are true and correct; (b) no Event of Termination (or event which with the
passage of time or notice, or both, would constitute an Event of Termination) has occurred and is
continuing or will result from the transactions contemplated by this Amendment or the Restated
Documents; (c) this Amendment, the Restated Documents and each of the Facility Documents to which
it is a party has been duly authorized, executed and delivered by it and each of its obligations
hereunder and thereunder constitute its legal, valid and binding obligations enforceable in
accordance with their respective terms, except as such enforceability may be limited by applicable
bankruptcy laws and any other similar laws affecting the rights and remedies of creditors generally
and by equitable principles; and (d) immediately after the Amendment Effective Date, the
Distribution Plan and Underwriting Agreement are the legal, valid and binding obligations of each
of the parties thereto enforceable against each party thereto in accordance with their respective
terms, except as such enforceability may be limited by applicable bankruptcy laws and any other
similar laws affecting the rights and remedies of creditors generally and by equitable principles.
AMG represents and warrants to the

5

 

Purchaser and the Program Agent that no Receivable relating to a Seed Share (as defined in the
Restated Purchase Agreement) has been sold to the Purchaser.

          Section 8. Consents, Etc.

          (a) In consideration of the undertaking of AMG set forth in clause (c) of this Section 8, the
Purchaser and the Program Agent hereby consent to the amendment as set forth on Schedule I hereto
of the section “Contingent Deferred Sales Charge Exceptions” in the Prospectuses of the Funds .

          (b) The Purchaser and the Program Agent hereby consent with respect to Shares of the Funds (as
defined in the Existing INVESCO Purchase Agreement) to a change in the basis upon which CDSCs are
computed from the “cost basis” to the “lower of cost or market basis”.

          (c) The Distributor hereby agrees to track or cause to be tracked for each Fund, (i) the
redemptions of Shares that result from required minimum distributions from individual retirement
accounts and employer-sponsored retirement plans to plan participants or beneficiaries who are age
70-1/2 or older, including without limitation the portion of such distributions that exceed 12%
annually of the participant’s or beneficiary’s account value in such Fund where the accounts of
such plan are maintained by the Transfer Agent on the TRAC2000® record keeping
retirement plan system or any other system incapable of imposing such 12% limit, and (ii) partial
redemptions of Shares initiated in connection with a Systematic Withdrawal Plan, including without
limitation the portion of such distributions that exceed 12% annually of the account value in such
Fund at the time the withdrawal plan is established, including without limitation in respect of the
accounts in employee-sponsored retirement plans where the account of such plan is maintained by AFS
on the TRAC2000® record keeping retirement plan system or any other system incapable of
imposing such 12% limit. The Seller agrees to indemnify the Purchaser on the Monthly Settlement
Date which occurs in February of each calendar year for the amount of CDSCs that would have been
imposed in respect of Shares in respect of the calendar year immediately preceding such Monthly
Settlement Date relating to Purchased Receivables but for the modifications to the Prospectuses set
forth in paragraphs 3 and 4 on Schedule I hereto.

          (d) The Purchaser and the Program Agent hereby waive the Condition Precedent set forth in
Section 3.02(j) of the Purchase Agreement as a condition to the Purchaser’s obligation to Purchase
Receivables, solely to the extent such condition fails to be satisfied prior to November 7, 2003 as
a result of the proposed merger of each of the Companies which are Maryland corporations (the
“Existing Affected Companies”) into certain Delaware statutory trusts (the “Re-domesticated
Companies”), which are to be created solely for the purpose of re-domesticating the Existing
Affected Companies from Maryland corporations into Delaware statutory trusts; provided,
however, that (i) in connection with such mergers all of the assets of the Funds relating
to each such Existing Affected Company (the “Existing Funds”) are transferred to a separate
portfolio of a Re-domesticated Company (the “Re-domesticated Portfolios”), (ii) in connection with
such mergers the Re-domesticated Companies on behalf of the Re-domesticated Portfolios assume
substantially all obligations of the Existing Affected

6

 

Companies in respect of the Existing Funds, and all of the obligations of the Existing Affected
Companies in respect of the Existing Funds in respect of or relating to the Purchased Receivables,
(iii) such mergers will not adversely affect the rights of the Distributor in respect of any
Purchased Receivables, and (iv) such mergers could not otherwise reasonably be expected to have an
Adverse Effect. The waiver set forth herein shall be effective only for the specific Condition
Precedent described above and shall not be deemed to relieve the Distributor, the Seller or any
Advisor of any liability under any Program Document or to be a waiver of any other event, right or
provision under or in connection with the Program Documents.

          Section 9. Execution in Counterparts.

          This Amendment may be executed in any number of counterparts and by different parties hereto
on separate counterparts, each of which counterparts, when so executed and delivered, shall be
deemed to be an original, and all of which counterparts, when taken together, shall constitute but
one and the same amendment.

          Section 10. Governing Law.

          THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
NEW YORK.

          Section 11. Severability of Provisions.

          Any provision of this Amendment which is prohibited or unenforceable in any jurisdiction
shall, as to such jurisdiction, be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining provisions hereof or affecting the validity or
enforceability of such provision in any other jurisdiction.

          Section 12. Captions.

          The captions in this Amendment are for convenience of reference only and shall not define or
limit any of the terms or provisions hereof.

          Section 13. No Waiver.

          Nothing in this Amendment shall be deemed to be a waiver of any breach of the Facility
Documents (as defined in the Existing Purchase Agreements) occurring or arising prior to the
Amendment Effective Date.

7

 

          IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed as of the
date first above written.

	 	 	 	 	 
	 	A I M MANAGEMENT GROUP INC.

 	 
	 	By:  	 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 
	 	A I M ADVISORS, INC.

 	 
	 	By:  	 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 
	 	A I M DISTRIBUTORS, INC.

 	 
	 	By:  	 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 
	 	INVESCO FUNDS GROUP, INC.

 	 
	 	By:  	 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 
	 	CITIBANK, N.A.

 	 
	 	By:  	 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 
	 	CITICORP NORTH AMERICA, INC.

 	 
	 	By:  	 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 
	 	DEUTSCHE BANK TRUST COMPANY AMERICAS

 	 
	 	By:  	 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 

 

 

EXHIBIT A

FORM OF RESTATED PURCHASE AGREEMENT

SEE TAB 2

 

 

EXHIBIT B

FORM OF RESTATED SERVICING AGREEMENT

SEE TAB 3

 

 

EXHIBIT C

FORM OF RESTATED COLLECTION AGENCY AGREEMENT

SEE TAB 4

 

 

EXHIBIT D

FORM OF DISTRIBUTION PLAN

SEE TAB 8

 

 

EXHIBIT E

FORM OF UNDERWRITING AGREEMENT

SEE TAB 9

 

 

SCHEDULE I

APPROVED CHANGES TO PROSPECTUS

CDSCs will not apply to the following redemptions of Class B or Class C shares, as applicable:

	1.	 	Additional purchases of Class C shares of AIM International Core Equity Fund (formerly known
as AIM International Value Fund) and AIM Real Estate Fund by shareholders of record on April
30, 1995, of these Funds, except that shareholders whose broker-dealers maintain a single
omnibus account with AFS on behalf of those shareholders, perform sub-accounting functions
with respect to those shareholders, and are unable to segregate shareholders of record prior
to April 30, 1995, from shareholders whose accounts were opened after that date will be
subject to a CDSC on all purchases made after March 1, 1996;
	 
	2.	 	A total or partial redemption requested within five years following the death or
post-purchase disability of (1) any registered shareholder on an account or (2) the settlor of
a living trust which is the registered shareholder of an account, of shares held in the
account at the time of death or initial determination of post-purchase disability;
	 
	3.	 	Certain distributions from individual retirement accounts and employer-sponsored retirement
plans, where redemptions result from (i) required minimum distributions to plan participants
or beneficiaries who are age 701/2 or older, and only with respect to that portion of such
distributions that does not exceed 12% annually of the participant’s or beneficiary’s account
value in a particular AIM Fund, provided the investor reinvests his dividends, provided
further that such 12% limit will not apply to distributions taken from accounts in
employer-sponsored retirement plans where the accounts of such plan are maintained by AFS on
the TRAC2000® record keeping retirement plan system or any other system incapable
of imposing such 12% limit; (ii) in kind transfers of assets where the participant or
beneficiary notifies the distributor of the transfer no later than the time the transfer
occurs; (iii) tax-free rollovers or transfers of assets to another plan of the type described
above invested in Class B or Class C shares of one or more of the AIM Funds; (iv) tax-free
returns of excess contributions or returns of excess deferral amounts; and (v) distributions
on the death or disability (as defined in the Code) of the participant or beneficiary;
	 
	4.	 	A partial redemption initiated in connection with a Systematic Withdrawal Plan of up to an
annual amount of 12% of the account value on a per fund basis, at the time the withdrawal plan
is established, provided the investor reinvests his dividends, provided further that such 12%
limit will not apply to distributions taken from accounts in employer-sponsored retirement
plans where the accounts of such plan are maintained by AFS on the TRAC2000® record
keeping retirement plan system or any other system incapable of imposing such 12% limit;
	 
	5.	 	A total redemption initiated by the Fund when the account value falls below the minimum
required account size of $500;
	 
	6.	 	Investment account(s) of AIM.

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