Common use of Compensation of Xxxxx Xxxxx Clause in Contracts

Compensation of Xxxxx Xxxxx. For the investment advisory services, payments and facilities to be furnished hereunder by Xxxxx Xxxxx, Xxxxx Xxxxx shall be entitled to receive from the Trust compensation in an amount equal to an annual rate of 0.75% of the initial net assets of the Trust. Such compensation shall be paid monthly in arrears. Xxxxx Xxxxx may, from time to time, decide to delay payment of its compensation. The Trust’s net assets shall be computed in accordance with the Declaration of Trust and any applicable votes and determinations of the Trustees of the Trust. In case of initiation or termination of the Agreement (1) during any month, the fee for that month shall be reduced proportionately on the basis of the number of calendar days during which the Agreement is in effect; and (2) should the termination be as a result of Xxxxx Xxxxx being replaced by another investment manager, any fees accumulated, but unpaid to Xxxxx Xxxxx, shall be waived. Xxxxx Xxxxx may, from time to time, waive all or a part of the above compensation. The Board of Trustees of the Trust has currently determined that, based on the current level of compensation payable to Xxxxx Xxxxx by the Trust for its investment advisory services under this Agreement, Xxxxx Xxxxx shall receive no compensation from the Trust in respect of the administrative services to be rendered and the facilities to be provided by Xxxxx Xxxxx in connection with its administrative responsibilities under this Agreement. If the Trustees subsequently determine that the Fund should compensate Xxxxx Xxxxx for such administrative services and facilities, such compensation shall be set forth in an amendment to this Agreement to be entered into by the parties hereto.

Compensation of Xxxxx Xxxxx. For the investment advisory services, payments and facilities to be furnished hereunder by Xxxxx Xxxxx, Xxxxx Xxxxx shall be entitled to receive from the Trust compensation in an amount equal to an annual rate of 0.750.70% of the initial net average daily total managed assets of the Trust. For purposes of this calculation, “total managed assets” of the Trust shall mean total assets of the Trust (including assets attributable to borrowings, any outstanding preferred shares, or other forms of leverage) less accrued liabilities (other than liabilities representing borrowings or such other forms of leverage). Other forms of leverage may include, for example, reverse repurchase agreements and forward commitments. For purposes of calculating “total managed assets,” the liquidation preference of any preferred shares outstanding is not considered a liability. Such compensation shall be paid monthly in arrears. Xxxxx Xxxxx may, from time to time, decide to delay payment of its compensation. The Trust’s net assets shall be computed in accordance with the Declaration of Trust and any applicable votes and determinations of the Trustees of the Trust. In case of initiation or termination of the Agreement (1) during any month, the fee for that month shall be reduced proportionately on the basis of the number of calendar days during which the Agreement is in effect; and (2) should the termination be as a result of Xxxxx Xxxxx being replaced by another investment manager, any fees accumulated, but unpaid to Xxxxx Xxxxx, shall be waived. Xxxxx Xxxxx may, from time to time, waive all or a part of the above compensation. The Board of Trustees of the Trust has currently determined that, based on the current level of compensation payable to Xxxxx Xxxxx by the Trust for its investment advisory services under this Agreement, Xxxxx Xxxxx shall receive no compensation from the Trust in respect of the administrative services to be rendered and the facilities to be provided by Xxxxx Xxxxx in connection with its administrative responsibilities under this Agreement. If the Trustees subsequently determine that the Fund Trust should compensate Xxxxx Xxxxx for such administrative services and facilities, such compensation shall be set forth in an amendment to this Agreement to be entered into by the parties hereto.

Compensation of Xxxxx Xxxxx. For the investment advisory services, payments and facilities to be furnished hereunder by Xxxxx Xxxxx, Xxxxx Xxxxx shall be entitled to receive from the Trust compensation in an amount equal to an annual rate of 0.75% of the initial net average daily total managed assets of the Trust. For purposes of this calculation, “total managed assets” of the Trust shall mean total assets of the Trust (including assets attributable to borrowings, any outstanding preferred shares, or other forms of leverage) less accrued liabilities (other than liabilities representing borrowings or such other forms of leverage). Other forms of leverage may include, for example, reverse repurchase agreements and forward commitments. For purposes of calculating “total managed assets,” the liquidation preference of any preferred shares outstanding is not considered a liability. Such compensation shall be paid monthly in arrears. Xxxxx Xxxxx may, from time to time, decide to delay payment of its compensation. The Trust’s net assets shall be computed in accordance with the Declaration of Trust and any applicable votes and determinations of the Trustees of the Trust. In case of initiation or termination of the Agreement (1) during any month, the fee for that month shall be reduced proportionately on the basis of the number of calendar days during which the Agreement is in effect; and (2) should the termination be as a result of Xxxxx Xxxxx being replaced by another investment manager, any fees accumulated, but unpaid to Xxxxx Xxxxx, shall be waived. Xxxxx Xxxxx may, from time to time, waive all or a part of the above compensation. The Board of Trustees of the Trust has currently determined that, based on the current level of compensation payable to Xxxxx Xxxxx by the Trust for its investment advisory services under this Agreement, Xxxxx Xxxxx shall receive no compensation from the Trust in respect of the administrative services to be rendered and the facilities to be provided by Xxxxx Xxxxx in connection with its administrative responsibilities under this Agreement. If the Trustees subsequently determine that the Fund Trust should compensate Xxxxx Xxxxx for such administrative services and facilities, such compensation shall be set forth in an amendment to this Agreement to be entered into by the parties hereto.

Compensation of Xxxxx Xxxxx. For the investment advisory services, payments and facilities to be furnished hereunder by Xxxxx Xxxxx, Xxxxx Xxxxx shall be entitled to receive from the Trust compensation in an amount equal to an annual rate of 0.75% of the initial net assets of the Trust. Such compensation shall be paid monthly in arrears. Xxxxx Xxxxx may, from time to time, decide to delay payment of its compensation. The Trust’s 's net assets shall be computed in accordance with the Declaration of Trust and any applicable votes and determinations of the Trustees of the Trust. In case of initiation or termination of the Agreement (1) during any month, the fee for that month shall be reduced proportionately on the basis of the number of calendar days during which the Agreement is in effect; and (2) should the termination be as a result of Xxxxx Xxxxx being replaced by another investment manager, any fees accumulated, but unpaid to Xxxxx Xxxxx, shall be waived. Xxxxx Xxxxx may, from time to time, waive all or a part of the above compensation. The Board of Trustees of the Trust has currently determined that, based on the current level of compensation payable to Xxxxx Xxxxx by the Trust for its investment advisory services under this Agreement, Xxxxx Xxxxx shall receive no compensation from the Trust in respect of the administrative services to be rendered and the facilities to be provided by Xxxxx Xxxxx in connection with its administrative responsibilities under this Agreement. If the Trustees subsequently determine that the Fund should compensate Xxxxx Xxxxx for such administrative services and facilities, such compensation shall be set forth in an amendment to this Agreement to be entered into by the parties hereto.

Compensation of Xxxxx Xxxxx. For the investment advisory services, payments and facilities to be furnished hereunder by Xxxxx Xxxxx, Xxxxx Xxxxx shall be entitled to receive from the Trust compensation in an amount equal to an annual rate of 0.75% of the initial net average daily total managed assets of the Trust. For purposes of this calculation, “total managed assets” of the Trust shall mean total assets of the Trust (including assets acquired with financial leverage), less accrued liabilities other than liabilities attributable to investment leverage including (i) borrowing through a credit facility or the issuance of debt, (ii) the issuance of preferred stock or similar preference securities and/or (iii) any other means, all as determined in accordance with generally accepted accounting principles. Such compensation shall be paid monthly in arrears. Xxxxx Xxxxx may, from time to time, decide to delay payment of its compensation. The Trust’s net assets shall be computed in accordance with the Declaration of Trust and any applicable votes and determinations of the Trustees of the Trust. In case of initiation or termination of the Agreement (1) during any month, the fee for that month shall be reduced proportionately on the basis of the number of calendar days during which the Agreement is in effect; and (2) should the termination be as a result of Xxxxx Xxxxx being replaced by another investment manager, any fees accumulated, but unpaid to Xxxxx Xxxxx, shall be waived. Xxxxx Xxxxx may, from time to time, waive all or a part of the above compensation. The Board of Trustees of the Trust has currently determined that, based on the current level of compensation payable to Xxxxx Xxxxx by the Trust for its investment advisory services under this Agreement, Xxxxx Xxxxx shall receive no compensation from the Trust in respect of the administrative services to be rendered and the facilities to be provided by Xxxxx Xxxxx in connection with its administrative responsibilities under this Agreement. If the Trustees subsequently determine that the Fund Trust should compensate Xxxxx Xxxxx for such administrative services and facilities, such compensation shall be set forth in an amendment to this Agreement to be entered into by the parties hereto.