Allocation of Excess Amount. For so long as the fee payable to the Sub-Adviser under the Sub-Adviser Agreement is equal to fifty percent (50%) of the advisory fee payable to the Investment Manager by a Sub-Advised Fund, the Sub-Adviser shall waive or reduce its portfolio management fee and/or promptly remit to the Investment Manager an amount that is sufficient to pay fifty percent (50%) of any Excess Amount paid to that Sub-Advised Fund by the Investment Manager pursuant to Section 1 of this Agreement. The Investment Manager may offset amounts owed to the Investment Manager pursuant to this Section 3.1 against the portfolio management fee paid to the Sub-Adviser.
Appears in 3 contracts
Samples: Expense Limitation Agreement (Lexington Troika Dialog Russia Fund Inc), Expense Limitation Agreement (Lexington Small Cap Asia Growth Fund Inc), Expense Limitation Agreement (Pilgrim Natural Resources Trust)
Allocation of Excess Amount. For so long as the fee payable to the Sub-Adviser under the Sub-Adviser Advisory Agreement is equal to fifty percent (50%) 45% of the advisory fee for each Fund, payable to the Investment Manager by a Sub-Advised Fund, the Sub-Adviser shall waive or reduce its portfolio management sub-advisory fee and/or promptly remit to the Investment Manager an amount that is sufficient to pay fifty percent (50%) 45% of any Excess Amount paid to that Sub-Advised Fund by the Investment Manager pursuant to Section 1 of this Agreement. The Investment Manager may offset amounts owed to the Investment Manager pursuant to this Section 3.1 against the portfolio management sub-advisory fee paid to the Sub-Adviser.
Appears in 1 contract
Samples: Expense Limitation Agreement (Ing Variable Insurance Trust)
Allocation of Excess Amount. For so long as the fee payable to the Sub-Adviser under the Sub-Adviser Advisory Agreement is equal to fifty percent (50%) % of the advisory fee payable to the Investment Manager by a Sub-Advised Fund, the Sub-Adviser shall waive or reduce its portfolio management sub-advisory fee and/or promptly remit to the Investment Manager an amount that is sufficient to pay fifty percent (50%) % of any Excess Amount paid to that Sub-Advised Fund by the Investment Manager pursuant to Section 1 of this Agreement. The Investment Manager may offset amounts owed to the Investment Manager pursuant to this Section 3.1 against the portfolio management sub-advisory fee paid to the Sub-Adviser.
Appears in 1 contract
