Common use of Automatic Renewal of the Commitments Clause in Contracts

Automatic Renewal of the Commitments. The parties agree that each ------------------------------------ Commitment will renew automatically for a period of one year from each anniversary of the Expiration/Renewal Date unless, prior to such anniversary date: (i) Funds Management provides notice to the Board of Trustees to the effect that it has elected not to renew a Commitment for a full year with respect to one or more specified Funds or classes; (ii) Funds Management provides notice to the Board of Trustees to the effect that it has elected to reduce a listed Capped Operating Expense Ratio with respect to one or more specified Funds or classes; and/or (iii) the Board of Trustees approves an increase to the listed Capped Operating Expense Ratio with respect to one or more specified Funds or classes. The notice referred to in subparagraphs (i) and (ii), above, or in subparagraph (i) of Subsection 3(c), may take the form of presentation materials delivered to the Board of Trustees at or before a meeting of the Board, a presentation to the Board of Trustees at a meeting that is reflected in the minutes of such meeting, or written notice delivered to the Board of Trustees.

Automatic Renewal of the Commitments. The parties agree that ------------------------------------ each ------------------------------------ Commitment will renew automatically for a period of one year from each anniversary of the Expiration/Renewal Date unless, prior to such anniversary date: (i) Funds Management Xxxxx Fargo provides notice to the Board of Trustees to the effect that it has elected not to renew a Commitment for a full year with respect to one or more specified Funds or classesFunds; (ii) Funds Management Xxxxx Fargo provides notice to the Board of Trustees to the effect that it has elected to reduce a listed Capped Operating Expense Ratio with respect to one or more specified Funds or classesFunds; and/or (iii) the Board of Trustees approves an increase to the listed Capped Operating Expense Ratio with respect to one or more specified Funds or classesFunds. The notice referred to in subparagraphs (i) and (ii), above, or in subparagraph (i) of Subsection 3(c2(c), may take the form of presentation materials delivered to the Board of Trustees at or before a meeting of the Board, a presentation to the Board of Trustees at a meeting of the Board that is reflected in the minutes of such meeting, or written notice delivered to the Board of Trustees.

Automatic Renewal of the Commitments. The parties agree that ------------------------------------ each ------------------------------------ Commitment will renew automatically for a period of one year from each anniversary of the Expiration/Renewal Date unless, prior to such anniversary date: (i) Funds Management provides notice to the Board of Trustees to the effect that it has elected not to renew a Commitment for a full year with respect to one or more specified Funds or classesFunds; (ii) Funds Management provides notice to the Board of Trustees to the effect that it has elected to reduce a listed Capped Operating Expense Ratio with respect to one or more specified Funds or classesFunds; and/or (iii) the Board of Trustees approves an increase to the listed Capped Operating Expense Ratio with respect to one or more specified Funds or classesFunds. The notice referred to in subparagraphs (i) and (ii), above, or in subparagraph (i) of Subsection 3(c2(c), may take the form of presentation materials delivered to the Board of Trustees at or before a meeting of the Board, a presentation to the Board of Trustees at a meeting of the Board that is reflected in the minutes of such meeting, or written notice delivered to the Board of Trustees.