Common use of Applicable Expense Limit Clause in Contracts

Applicable Expense Limit. To the extent that the ordinary operating expenses ("Fund Operating Expenses") incurred by a Fund in any fiscal year, including, but not limited to, investment management fees of LIA and amounts payable pursuant to a plan adopted in accordance with Rule 12b-1 under the Investment Company Act of 1940 Act (the "1940 Act"), but excluding interest, taxes, brokerage commissions, underlying fund fees and expenses, extraordinary expenses such as litigation, and other expenses not incurred in the ordinary course of such Fund's business, exceed the Operating Expense Limit, as defined below, such excess amount (the "Excess Amount") shall be the liability of LIA.

Applicable Expense Limit. To the extent that the ordinary operating expenses ("Fund Operating Expenses") incurred by a Fund in any fiscal year, including, including but not limited to, to investment management fees of LIA the Investment Manager and amounts payable pursuant to a plan adopted in accordance with Rule 12b-1 under the Investment Company Act of 1940 Act (the "1940 Act"“Fund Operating Expenses”), but excluding interest, taxes, brokerage commissions, underlying fund Acquired Fund fees and expenses, extraordinary expenses such as litigation, and other expenses not incurred in the ordinary course of such Fund's ’s business, exceed the Operating Expense Limit, as defined in Section 1.2 below, such excess amount (the "“Excess Amount"”) shall be the liability of LIAthe Investment Manager.

Applicable Expense Limit. To the extent that the ordinary operating expenses ("Fund Operating Expenses") incurred by a Fund in any fiscal year, including, including but not limited to, to investment management fees of LIA the Investment Manager and amounts payable pursuant to a plan adopted in accordance with Rule 12b-1 under the Investment Company Act of 1940 Act (the "1940 Act"“Fund Operating Expenses”), but excluding interest, taxes, brokerage commissions, underlying fund Acquired Fund fees and expenses, extraordinary expenses such as litigation, and other expenses not incurred in the ordinary course of such Fund's ’s business, exceed the operating expense limit, as defined in Section 1.2 below (“Operating Expense Limit, as defined below”), such excess amount (the "“Excess Amount"”) shall be the liability of LIAthe Investment Manager.

Applicable Expense Limit. To the extent that the ordinary operating expenses ("Fund Operating Expenses") incurred by a Fund in any fiscal year, including, but not limited to, investment management fees of LIA and amounts payable pursuant to a plan adopted in accordance with Rule 12b-1 under the Investment Company Act of 1940 Act (the "1940 Act"), but excluding interest, taxes, brokerage commissions, underlying fund fees and expenses, extraordinary expenses such as litigation, and other expenses not incurred in the ordinary course of such Fund's business, exceed the Operating Expense Limit, as defined below, such excess amount (the "Excess Amount") shall be the liability of LIA.

Applicable Expense Limit. To the extent that the ordinary operating expenses ("“Fund Operating Expenses"”) incurred by a Fund in any fiscal year, including, but not limited to, investment management fees of LIA and amounts payable pursuant to a plan adopted in accordance with Rule 12b-1 under the Investment Company Act of 1940 Act (the "“1940 Act"”), but excluding interest, taxes, brokerage commissions, underlying fund fees and expenses, extraordinary expenses such as litigation, and other expenses not incurred in the ordinary course of such Fund's ’s business, exceed the Operating Expense Limit, as defined below, such excess amount (the "“Excess Amount"”) shall be the liability of LIA.

Applicable Expense Limit. To the extent that the ordinary operating expenses ("Fund Operating Expenses") incurred by a Fund in any fiscal year, including, including but not limited to, to investment management fees of LIA the Investment Manager and amounts payable pursuant to a plan adopted in accordance with Rule 12b-1 under the Investment Company Act of 1940 Act (the "1940 ActFund Operating Expenses"), but excluding interest, taxes, brokerage commissions, underlying fund Acquired Fund fees and expenses, extraordinary expenses such as litigation, and other expenses not incurred in the ordinary course of such Fund's business, exceed the Operating Expense Limit, as defined in Section 1.2 below, such excess amount (the "Excess Amount") shall be the liability of LIAthe Investment Manager.

Applicable Expense Limit. To the extent that the ordinary operating expenses ("Fund Operating Expenses") incurred by a Fund in any fiscal year, including, including but not limited to, to investment management fees of LIA the Investment Manager and amounts payable pursuant to a plan adopted in accordance with Rule 12b-1 under the Investment Company Act of 1940 Act (the "1940 Act"“Fund Operating Expenses”), but excluding interest, taxes, brokerage commissions, underlying fund fees investments in the HSBC Prime Money Market Fund and expensesunaffiliated investment companies, extraordinary expenses such as litigation, and other expenses not incurred in the ordinary course of such Fund's ’s business, exceed the Operating Expense Limit, as defined in Section 1.2 below, such excess amount (the "“Excess Amount"”) shall be the liability of LIAthe Investment Manager.

Applicable Expense Limit. To the extent that the ordinary operating expenses ("Fund Operating Expenses") incurred by a the Fund in any fiscal year, including, including but not limited to, to investment management fees of LIA the Investment Manager and amounts payable pursuant to a plan adopted in accordance with Rule 12b-1 under the Investment Company Act of 1940 Act (the "1940 Act"“Fund Operating Expenses”), but excluding interest, taxes, brokerage commissions, underlying fund Acquired Fund fees and expenses, extraordinary expenses such as litigation, and other expenses not incurred in the ordinary course of such the Fund's ’s business, exceed the Operating Expense Limit, as defined in Section 1.2 below, such excess amount (the "“Excess Amount"”) shall be the liability of LIAthe Investment Manager.

Applicable Expense Limit. To the extent that the ordinary operating expenses ("Fund Operating Expenses") incurred by a Fund in any fiscal year, including, but not limited to, investment management fees of LIA and amounts payable pursuant to a plan adopted in accordance with Rule 12b-1 under the Investment Company Act of 1940 Act (the "1940 Act"), but excluding interest, taxes, brokerage commissions, underlying fund fees and expensesfees, extraordinary expenses such as litigation, and other expenses not incurred in the ordinary course of such Fund's business, exceed the Operating Expense Limit, as defined below, such excess amount (the "Excess Amount") shall be the liability of LIA.

Applicable Expense Limit. To the extent that the ordinary operating expenses ("Fund Operating Expenses") incurred by a Fund in any fiscal year, including, but not limited to, investment management fees of LIA LIAC and amounts payable pursuant to a plan adopted in accordance with Rule 12b-1 under the Investment Company Act of 1940 Act (the "1940 Act"), but excluding interest, taxes, brokerage commissions, underlying fund fees and expenses, extraordinary expenses such as litigation, and other expenses not incurred in the ordinary course of such Fund's business, exceed the Operating Expense Limit, as defined below, such excess amount (the "Excess Amount") shall be the liability of LIALIAC.