Daily Computation. The Investment Manager shall determine on each business day whether the aggregate Term to date Fund Operating Expenses for any class of a Fund exceed the Operating Expense Limit, as such Operating Expense Limit has been pro-rated to the date of such determination (the “Pro-Rated Expense Cap”). If, on any business day, the aggregate Term to date Fund Operating Expenses for any class of a Fund do not equal the Pro-Rated Expense Cap for that class, the amount of such difference shall be netted against the previous day’s accrued amount for Excess Amounts or Recoupment Amounts (as defined below), and the difference shall be accrued for that day as an Excess Amount or Recoupment Amount as applicable.
Daily Computation. The Investment Manager shall determine on each business day whether the expenses for any class of a Fund exceed the gross income for such class of a Fund on such business day. If, on any business day, the expenses for any class of a Fund do not equal the gross income for such class, the amount of such difference shall be netted against the previous day’s accrued amount for Excess Amounts or Recoupment Amounts (as defined below and subject to the limitations noted below), and the difference shall be accrued for that day as an Excess Amount or Recoupment Amount as applicable.
Daily Computation. The Investment Manager shall determine on each business day whether the aggregate fiscal year-to-date Class Operating Expenses for any Class exceed the applicable Class Operating Expense Limit, as such Class Operating Expense Limit has been pro-rated to the date of such determination (the "Pro-Rated Class Operating Expense Limit"). If, on any business day, the aggregate fiscal year-to-date Class Operating Expenses do not equal the Pro-Rated Class Operating Expense Limit, the amount of such difference shall be netted against the total year-to-date Class Excess Amount, determined as of the end of the previous business day, and the difference shall be accrued for that day as a Daily Difference (which may be positive or negative as appropriate), provided that after such accrual the total year-to-date Class Excess Amount may not exceed the year-to-date investment advisory fees accrued by the Investment Manager with respect to that Class. A positive Daily Difference will accrue if the aggregate fiscal year-to-date Class Operating Expenses exceed the Pro-Rated Class Operating Expense Limit, and a negative Daily Difference will accrue if the aggregate fiscal year-to-date Class Operating Expenses are less than the Pro-Rated Class Operating Expense Limit.
Daily Computation. The Manager shall determine on each business day whether the aggregate fiscal year to date Fund Operating Expenses for any Fund exceed the Operating Expense Limit, as such Operating Expense Limit has been pro-rated to the date of such determination (the "Pro-Rated Expense Cap"). If, on any business day, the aggregate fiscal year to date Fund Operating Expenses for any Fund do not equal the Pro-Rated Expense Cap for that class, the amount of such difference shall be netted against the previous day's accrued amount for Excess Amounts or Recoupment Amounts (as defined below), and the difference shall be accrued for that day as an Excess Amount or Recoupment Amount as applicable.
Daily Computation. There will be a determination each valuation day whether the expenses for the Money Market Account (“Account Expenses”) on that day exceed the gross income of the Account for that day. Account Expenses means, prior to the application of Paragraphs 2 and 3 of this Agreement, the amount deducted under the rates set forth for the Account in CREF’s then current Rules of the Fund (the “Formula Rate”) plus or minus any amount determined under CREF’s procedures for reconciling amounts deducted under the Formula Rate and actual expenses incurred (the “True Up Amount”).
Daily Computation. The Distributor shall determine on each business day whether the aggregate Fund Operating Expenses for the Class of each Fund exceed the Operating Expense Limit for the Fund, as such Operating Expense Limit has been pro-rated to the date of such determination (the "Pro-Rated Expense Cap"). If, on any business day, the aggregate Fund Operating Expenses for the Class of the Fund do not equal the Pro-Rated Expense Cap for that Class, the amount of such difference shall be netted against the previous day's accrued amount for Excess Amounts or Recoupment Amounts (as defined below), and the difference shall be accrued for that day as an Excess Amount or Recoupment Amount as applicable.
Daily Computation. Except as otherwise defined in this Agreement, in the event it is necessary to calculate a daily compensation, such daily compensation rate shall be obtained by dividing the annual salary by 260.
Daily Computation. The Investment Manager shall determine on each business day whether the aggregate Term to date Fund Operating Expenses for any class of a Fund exceed the Operating Expense Limit, as such Operating Expense Limit has been pro-rated to the date of such determination (the “Pro-Rated Expense Cap”). If, on any business day, the aggregate Term to date Fund Operating Expenses for any class of a Fund do not equal the Pro-Rated Expense Cap for that class, the amount of such difference shall be netted against the previous day’s
(d) (19)
Daily Computation. There will be a determination each valuation day whether total expenses of each Class of the Money Market Account (“Expenses”) on that day exceed the gross income attributable to the particular Class for that day. Expenses means, prior to the application of Paragraphs 2 and 3 of this Agreement, the amount deducted under the rates set forth for each Class of the Account in CREF’s then-current Rules of the Fund (the “Rules”), which include Account-level deductions for Investment Management Expenses and the Mortality and Expense Risk Charge and Class-level deductions for Distribution Expenses and Administrative Expenses (as defined in the Rules) (the “Formula Rate”), plus or minus any amount determined under CREF’s procedures for reconciling amounts deducted under the Formula Rate and actual expenses incurred (the “True Up Amount”) for each Class.
