Common use of Applicable Expense Limit Clause in Contracts

Applicable Expense Limit. To the extent that the ordinary operating expenses incurred by the Fund in any fiscal year, including but not limited to investment advisory fees of the Advisor, but excluding interest, taxes, brokerage commissions, other investment-related costs and extraordinary expenses, such as litigation and other expenses not incurred in the ordinary course of the Fund’s business (“Fund Operating Expenses”), exceed the Operating Expense Limit, as defined in Section 1.2 below, such excess amount (the “Excess Amount”) shall be the liability of the Advisor to the extent set forth in this Agreement.

Applicable Expense Limit. To the extent that the ordinary operating expenses incurred by the Fund in any fiscal year, including but not limited to investment advisory fees of the AdvisorAdviser, but excluding interest, taxes, brokerage commissionsexpenses, other investment-related costs dividend expenses on short securities and extraordinary expenses, such as litigation and other expenses not incurred in the ordinary course of the Fund’s business (“Fund Operating Expenses”), exceed the Operating Expense Limit, as defined in Section 1.2 below, such excess amount (the “Excess Amount”) shall be the liability of the Advisor Adviser to the extent set forth in this Agreement.

Applicable Expense Limit. To the extent that the ordinary operating expenses incurred by the a Fund in any fiscal year, including but not limited to investment advisory fees of the AdvisorAdviser, but excluding interest, taxes, brokerage commissionsexpenses, other investment-related costs dividend expenses on short securities and extraordinary expenses, such as litigation and other expenses not incurred in the ordinary course of the Fund’s business (“Fund Operating Expenses”), exceed the Operating Expense Limit, as defined in Section 1.2 below, such excess amount (the “Excess Amount”) shall be the liability of the Advisor Adviser to the extent set forth in this Agreement.

Applicable Expense Limit. To the extent that the ordinary operating expenses incurred by the a Fund in any fiscal year, including but not limited to investment advisory fees of the AdvisorAdviser, but excluding interest, taxes, brokerage commissionsexpenses, other investment-related costs dividend expenses on short securities, acquired fund fees and expenses and extraordinary expenses, such as litigation and other expenses not incurred in the ordinary course of the Fund’s business (“Fund Operating Expenses”), exceed the Operating Expense Limit, as defined in Section 1.2 below, such excess amount (the “Excess Amount”) shall be the liability of the Advisor Adviser to the extent set forth in this Agreement.

Applicable Expense Limit. To the extent that the ordinary operating expenses incurred by the a Fund in any fiscal year, including but not limited to investment advisory fees of the Advisor, but excluding any interest, taxes, brokerage commissions, other investment-related costs and extraordinary expenses, such as litigation and other expenses not incurred in the ordinary course of the Fund’s business (“Fund Operating Expenses”), exceed the Fund’s Operating Expense Limit, as defined in Section 1.2 below, such excess amount (the “Excess Amount”) shall be the liability of the Advisor to the extent set forth in this Agreement.

Applicable Expense Limit. To the extent that the ordinary operating expenses incurred by the Fund in any fiscal year, including but not limited to investment advisory fees of the AdvisorAdviser, but excluding interest, taxes, brokerage commissionsexpenses, other investment-related costs dividend expenses on short securities, acquired fund fees and expenses and extraordinary expenses, such as litigation and other expenses not incurred in the ordinary course of the Fund’s business (“Fund Operating Expenses”), exceed the Operating Expense Limit, as defined in Section 1.2 below, such excess amount (the “Excess Amount”) shall be the liability of the Advisor Adviser to the extent set forth in this Agreement.

Applicable Expense Limit. To the extent that the ordinary operating expenses incurred by the a Fund in any fiscal year, including but not limited to investment advisory management fees of the AdvisorInvestment Manager, but excluding interest, taxes, brokerage commissions, other investment-related costs and extraordinary expenses, expenses such as litigation and other expenses not incurred in the ordinary course of the such Fund’s 's business (“"Fund Operating Expenses”"), exceed the Operating Expense Limit, as defined in Section 1.2 below, such excess amount (the “"Excess Amount”") shall be the liability of the Advisor to the extent set forth in this AgreementInvestment Manager.

Applicable Expense Limit. To the extent that the ordinary operating expenses incurred by the Fund in any fiscal year, including but not limited to investment advisory fees of the AdvisorAdviser, but excluding interest, taxes, brokerage commissions, other investment-related costs and extraordinary expenses, such as litigation and other expenses not incurred in the ordinary course of the Fund’s 's business (“"Fund Operating Expenses”"), exceed the Operating Expense Limit, as defined in Section 1.2 below, such excess amount (the “"Excess Amount”") shall be the liability of the Advisor Adviser to the extent set forth in this Agreement.

Applicable Expense Limit. To the extent that the ordinary operating expenses incurred by the a Fund in any fiscal year, including but not limited to investment advisory fees of the Advisor, but excluding any interest, taxes, brokerage commissions, other investment-related costs and extraordinary expenses, such as litigation and other expenses not incurred in the ordinary course of the Fund’s 's business (“"Fund Operating Expenses”"), exceed the Fund's Operating Expense Limit, as defined in Section 1.2 below, such excess amount (the “"Excess Amount”") shall be the liability of the Advisor to the extent set forth in this Agreement.

Applicable Expense Limit. To the extent that the ordinary operating expenses incurred by the Fund in any fiscal year, including but not limited to investment advisory fees of the Advisorfees, but excluding interest, taxes, brokerage commissions, other investment-related costs and extraordinary expenses, such as litigation and other expenses not incurred in the ordinary course of the Fund’s 's business (“"Fund Operating Expenses”"), exceed the Operating Expense Limit, as defined in Section 1.2 below, such excess amount (the “"Excess Amount”") shall be the liability of the Advisor to the extent set forth in this Agreement.

Applicable Expense Limit. To the extent that the ordinary operating expenses incurred by a class of the Fund in any fiscal year, including but not limited to investment advisory management fees of payable to the AdvisorManager, but excluding interest, taxes, brokerage commissions, other investment-related costs and costs, extraordinary expenses, expenses such as litigation and other expenses not incurred in the ordinary course of the Fund’s 's business (“"Fund Operating Expenses”"), exceed the Operating Expense Limit, as defined in Section 1.2 below, such excess amount (the “"Excess Amount”") shall be the liability of the Advisor to the extent set forth in this AgreementManager.

Applicable Expense Limit. To the extent that the ordinary operating expenses incurred by the Fund in any fiscal year, including but not limited to investment advisory fees of the Advisor, but excluding interest, taxes, brokerage commissionsexpenses, other investment-related costs dividend expenses on short securities and extraordinary expenses, such as litigation and other expenses not incurred in the ordinary course of the Fund’s business (“Fund Operating Expenses”), exceed the Operating Expense Limit, as defined in Section 1.2 below, such excess amount (the “Excess Amount”) shall be the liability of the Advisor to the extent set forth in this Agreement.

Applicable Expense Limit. To the extent that the ordinary operating expenses incurred by the Fund in any fiscal year, including but not limited to investment advisory fees of the Advisor, but excluding interest, taxes, brokerage commissions, other investment-related costs and extraordinary expenses, such as litigation and other expenses not incurred in the ordinary course of the Fund’s 's business (“"Fund Operating Expenses”"), exceed the Operating Expense Limit, as defined in Section 1.2 below, such excess amount (the “"Excess Amount”") shall be the liability of the Advisor to the extent set forth in this Agreement.

Applicable Expense Limit. To the extent that the ordinary operating expenses incurred by the Fund in any fiscal year, including but not limited to investment advisory fees of the Advisor, but excluding any interest, taxes, brokerage commissions, other investment-related costs and extraordinary expenses, such as litigation and other expenses not incurred in the ordinary course of the Fund’s business (“Fund Operating Expenses”), exceed the Fund’s Operating Expense Limit, as defined in Section 1.2 below, such excess amount (the “Excess Amount”) shall be the liability of the Advisor to the extent set forth in this Agreement.

Applicable Expense Limit. To the extent that the ordinary operating expenses incurred by the Fund in any fiscal yearfor the period ending April 30, 2009, including but not limited to investment advisory fees of the Advisor, but excluding interest, taxes, brokerage commissions, other investment-related costs and extraordinary expenses, such as litigation and other expenses not incurred in the ordinary course of the Fund’s business (“Fund Operating Expenses”), exceed the Operating Expense Limit, as defined in Section 1.2 below, such excess amount (the “Excess Amount”) shall be the liability of the Advisor to the extent set forth in this Agreement.

Applicable Expense Limit. To the extent that the ordinary operating expenses incurred by a Fund for the Fund in any fiscal yearperiod ending April 30, 2009, including but not limited to investment advisory fees of the Advisor, but excluding interest, taxes, brokerage commissions, other investment-related costs fees and extraordinary expenses, such as litigation and other expenses not incurred in the ordinary course of the Fund’s business underlying funds in which the Fund may invest (“Fund Operating Expenses”), exceed the Operating Expense Limit, as defined in Section 1.2 below, such excess amount (the “Excess Amount”) shall be the liability of the Advisor to the extent set forth in this Agreement.

Applicable Expense Limit. To the extent that the ordinary operating expenses incurred by the Fund in any fiscal yearfor the period ending April 30, 2006, including but not limited to investment advisory fees of the Advisor, but excluding interest, taxes, brokerage commissions, other investment-related costs and extraordinary expenses, such as litigation and other expenses not incurred in the ordinary course of the Fund’s business (“Fund Operating Expenses”), exceed the Operating Expense Limit, as defined in Section 1.2 below, such excess amount (the “Excess Amount”) shall be the liability of the Advisor to the extent set forth in this Agreement.

Applicable Expense Limit. To the extent that the ordinary operating aggregate expenses incurred by the Fund in any fiscal year, including but not limited to investment advisory fees of the Advisor, Adviser (but excluding interestleverage costs, taxes, interest, brokerage commissions, other investment-related costs acquired fund fees and extraordinary expenses, such as litigation and other expenses not incurred in the ordinary course of the Fund’s business any non-routine expenses) (“Fund Operating Expenses”), exceed the Operating Expense Limit, as defined in Section 1.2 below, such excess amount (the “Excess Amount”) shall be the liability of the Advisor to the extent set forth in this AgreementAdviser.

Applicable Expense Limit. To the extent that the ordinary total operating expenses of the Fund (including (but not limited to) investment advisory fees payable to the Adviser and distribution/service (Rule 12b-1)fees, but excluding interest, taxes, litigation and brokerage expenses, expenditures which are capitalized in accordance with generally accepted accounting principles and extraordinary expenses) incurred by the Fund in any fiscal year, including but not limited to investment advisory fees of the Advisor, but excluding interest, taxes, brokerage commissions, other investment-related costs and extraordinary expenses, such as litigation and other expenses not incurred in the ordinary course of the Fund’s business year (“Fund Operating Expenses”), exceed the Operating Expense Limit, as defined in Section 1.2 1(b) below, such excess amount (the “Excess Amount”) shall be the liability of the Advisor to the extent set forth in this AgreementAdviser.

Applicable Expense Limit. To the extent that the ordinary operating aggregate expenses incurred by the a Fund in any fiscal yearyear (referred to as "Fund Operating Expenses") exceed the Operating Expense Limit, including the excess amount ("Excess Amount") will be the liability of the Advisor. Fund Operating Expenses may include, but are not limited to to, investment advisory fees of the Advisor, but excluding . Fund Operating Expenses do not include interest, taxes, brokerage commissions, other investment-related costs and expenditures capitalized in accordance with generally accepted accounting principles, other extraordinary expenses, such as litigation and other expenses not incurred in the ordinary course of the Fund’s business (“Fund Operating Expenses”), exceed the Operating Expense Limit, as defined in Section 1.2 below, such excess amount (the “Excess Amount”) shall be the liability of the Advisor to the extent set forth in this Agreement's business.

Applicable Expense Limit. To the extent that the ordinary operating expenses incurred by the each Fund in any fiscal year, including but not limited to investment advisory fees of the Advisor(and organizational and offering costs), but excluding interestdistribution and service fees (if any), brokerage or other transaction related expenses, taxes, brokerage commissionsinterest, other investment-related costs and extraordinary expenses, such as litigation expenses and other extraordinary expenses not incurred in the ordinary course of the Fund’s business (“Fund Operating Expenses”), exceed the Operating Expense Limit, as defined in Section 1.2 below, with respect to such Fund, such excess amount (the “Excess Amount”) shall be the liability of the Advisor to the extent set forth in this Agreement.

Applicable Expense Limit. To the extent that the ordinary operating expenses incurred by the Fund in any fiscal yearfor the period ending April 30, 2007, including but not limited to investment advisory fees of the Advisor, but excluding interest, taxes, brokerage commissions, other investment-related costs and extraordinary expenses, such as litigation and other expenses not incurred in the ordinary course of the Fund’s business (“Fund Operating Expenses”), exceed the Operating Expense Limit, as defined in Section 1.2 below, such excess amount (the “Excess Amount”) shall be the liability of the Advisor to the extent set forth in this Agreement.

Applicable Expense Limit. To the extent that the ordinary operating aggregate expenses incurred by the Fund in any fiscal yearyear (referred to as “Fund Operating Expenses”) exceed the Operating Expense Limit, including the excess amount (“Excess Amount”) will be the liability of the Advisor. Fund Operating Expenses may include, but are not limited to to, investment advisory fees of the Advisor, but excluding . Fund Operating Expenses do not include interest, taxes, brokerage commissions, other investment-related costs and expenditures capitalized in accordance with generally accepted accounting principles, other extraordinary expenses, such as litigation and other expenses not incurred in the ordinary course of the Fund’s business (“Fund Operating Expenses”), exceed the Operating Expense Limit, as defined in Section 1.2 below, such excess amount (the “Excess Amount”) shall be the liability of the Advisor to the extent set forth in this Agreementbusiness.

Applicable Expense Limit. To the extent that the ordinary operating expenses incurred by the Fund in any fiscal year, including but not limited to investment advisory fees of the Advisor, but excluding interest, taxes, brokerage commissions, other investment-related costs and extraordinary expenses, such as litigation and other expenses not incurred in the ordinary course of the Fund’s 's business (“"Fund Operating Expenses”"), exceed the Operating Expense Limit, as defined in Section 1.2 below, such excess amount (the “"Excess Amount”") shall be the liability of the Advisor to the extent set forth in this Agreement." and

Applicable Expense Limit. To the extent that the ordinary operating expenses incurred by the Fund in any fiscal yearfor the period ending April 30, 2008, including but not limited to investment advisory fees of the Advisor, but excluding interest, taxes, brokerage commissions, other investment-related costs and extraordinary expenses, such as litigation and other expenses not incurred in the ordinary course of the Fund’s business (“Fund Operating Expenses”), exceed the Operating Expense Limit, as defined in Section 1.2 below, such excess amount (the “Excess Amount”) shall be the liability of the Advisor to the extent set forth in this Agreement.

Applicable Expense Limit. To the extent that the ordinary operating expenses incurred by the a Fund in any fiscal year, including but not limited to investment advisory fees the management fee of the AdvisorAdviser, but excluding interest, taxes, brokerage commissions, other investment-related costs and extraordinary expenses, such as litigation and other expenses not incurred in the ordinary course of the Fund’s business (“Fund Operating Expenses”), exceed the Operating Expense Limit, as defined in Section 1.2 below, such excess amount (the “Excess Amount”) shall be the liability of the Advisor Adviser to the extent set forth in this Agreement.

Applicable Expense Limit. To the extent that the ordinary operating expenses incurred by a Fund for the Fund in any fiscal yearperiod ending April 30, 2007, including but not limited to investment advisory fees of the Advisor, but excluding interest, taxes, brokerage commissions, other investment-related costs fees and extraordinary expenses, such as litigation and other expenses not incurred in the ordinary course of the Fund’s business underlying funds in which the Fund may invest (“"Fund Operating Expenses”"), exceed the Operating Expense Limit, as defined in Section 1.2 below, such excess amount (the “"Excess Amount”") shall be the liability of the Advisor to the extent set forth in this Agreement.

Applicable Expense Limit. To the extent that the ordinary operating expenses incurred by the Fund in any fiscal yearfor the period ending April 30, 2011, including but not limited to investment advisory fees of the Advisor, but excluding interest, taxes, brokerage commissions, other investment-related costs and extraordinary expenses, such as litigation and other expenses not incurred in the ordinary course of the Fund’s business (“Fund Operating Expenses”), exceed the Operating Expense Limit, as defined in Section 1.2 below, such excess amount (the “Excess Amount”) shall be the liability of the Advisor to the extent set forth in this Agreement.