Common use of Administrative Fee Reimbursement Clause in Contracts

Administrative Fee Reimbursement. The Fund agrees to pay Forward Management the amount of Administrative Fees that, but for Section 1 hereof, would have been payable by the Fund to Forward Management pursuant to the Administrative Plan (the “Waived Fees”) for a period of three years following the year in which the Administrative Fees were incurred, subject to the limitations provided in this Section. Such payment shall be made monthly; however, such payment will not be made with respect to a class of the Fund if it, together with the payment of all other applicable fees and expenses, would cause the net yield of that class of the Fund to be less than an annualized yield of 0.01%. In no event will a particular class of shares of the Fund be obligated to pay any fees waived or deferred by Forward Management with respect to any other class of the Fund.