Common use of Early Termination for Convenience Clause in Contracts

Early Termination for Convenience. In addition to the foregoing, in the event that the Administrator terminates this Agreement with respect to any or all Trusts or Portfolios prior to the end of the Initial Term other than due to the Transfer Agent’s bankruptcy under Section 12.6 or for cause under Section 12.7, the Transfer Agent reserves the right to charge, in which case the Administrator agrees to pay, an amount equal to the average monthly fee paid by the Administrator to the Transfer Agent under the Agreement with respect to the applicable Portfolio(s) during the Initial Term multiplied by the number of months remaining in the Initial Term and calculated as set forth on the then current Fee Schedule, on the date notice of termination was given to the Transfer Agent. In the event that the Administrator terminates this Agreement prior to the end of a Renewal Term with respect to any or all Trusts or Portfolios, other than due to the Transfer Agent’s bankruptcy under Section 12.6 or for cause under Section 12.7, then the Administrator shall pay the Transfer Agent an amount equal to the average monthly fee paid by the Administrator to the Transfer Agent under the Agreement with respect to the applicable Portfolio(s) multiplied by the number of months remaining in such Renewal Term but not to exceed four months of fees.

Early Termination for Convenience. In addition to the foregoing, in the event that the Administrator terminates this Agreement with respect to any or all Trusts or Portfolios prior to the end of the Initial Term other than due to the Transfer Agent’s bankruptcy under Section 12.6 or for cause under Section 12.7, the Transfer Agent reserves the right to charge, in which case the Administrator agrees to pay, an amount equal to the average monthly fee paid by the Administrator to the Transfer Agent under the Agreement with respect to the applicable Portfolio(s) during the Initial Term multiplied by the number of months remaining in the Initial Term and calculated as set forth on the then current Fee Schedule, on the date notice of termination was given to the Transfer Agent. In the event that the Administrator terminates this Agreement prior to the end of a Renewal Term with respect to any or all Trusts or Portfolios, other than due to the Transfer Agent’s bankruptcy under Section 12.6 or for cause under Section 12.7, 12.7 then the Administrator shall pay the Transfer Agent an amount equal to the average monthly fee paid by the Administrator to the Transfer Agent under the Agreement with respect to the applicable Portfolio(s) multiplied by the number of months remaining in such Renewal Term but not to exceed four months of fees.