Expense Cap. For each of the Fund's full fiscal years this Agreement remains in force, SMC agrees that if total annual expenses of each Series of the Fund identified below, exclusive of interest, taxes, extraordinary expenses (such as litigation), brokerage fees and commissions, and 12b-1 fees paid under a Fund's Class A, Class B or Class C Distribution Plans, but inclusive of SMC's compensation, exceeds the amount set forth below (the "Expense Cap"), SMC will contribute to such Series such funds or waive such portion of its fee, adjusted monthly, as may be required to insure that the total annual expenses of the Series will not exceed the Expense Cap. If this Agreement shall be effective for only a portion of a Series' fiscal year, then the maximum annual expenses shall be prorated for such portion. EXPENSE CAP International Series, Class A, B and C shares - 2.25% Enhanced Index Series, Class A, B and C shares - 1.75% Select 25 Series, Class A, B and C shares - 1.75%
Expense Cap. For each of the Fund’s full fiscal years that this Agreement remains in force, the Adviser agrees that if total annual expenses of each Series of the Fund identified below, exclusive of interest, taxes, extraordinary expenses (such as litigation), brokerage fees and commissions, and 12b-1 fees paid under a Fund’s Class A, Class B or Class C Distribution Plans, but inclusive of the Adviser’s compensation, exceeds the amount set forth below (the “Expense Cap”), the Adviser shall contribute to such Series such funds or waive such portion of its fee, adjusted monthly, as may be required to insure that the total annual expenses of the Series shall not exceed the Expense Cap. If this Agreement shall be effective for only a portion of a Series’ fiscal year, then the maximum annual expenses shall be prorated for such portion. Large Cap Concentrated Growth Series, Class A, B and C – 1.75%
Expense Cap. For purposes of Tenant’s obligation to pay Tenant’s Share of Expenses, Controllable Expenses (as defined below) will be subject to a cap each fiscal year (the “Cap”) after calendar year in which the Commencement Date occurs. The Cap for any fiscal year will be the Controllable Expenses for the calendar year in which the Commencement Date occurs plus 5% per annum, compounded annually on a cumulative basis. Controllable Expenses, and the Cap thereon, will be determined on an aggregate basis and not on an individual basis, and the Cap on Controllable Expenses will be determined on Expenses as they have been adjusted for vacancy or usage pursuant to the terms of this Lease. The Cap on Controllable Expenses, as provided for in this Section 4.L, will not limit or otherwise affect Tenant’s obligation to pay Tenant’s Share of Uncontrollable Expenses (as defined below) or any other component of Rent under this Lease. “Uncontrollable Expenses” means insurance costs, utility charges, Taxes, and snow removal costs. “Controllable Expenses” means Expenses other than Uncontrollable Expenses.
Expense Cap. (a) The Adviser waive a portion of its advisory fee or reimburse the Trust for certain operating expenses so that the annual operating expenses of the Trust (exclusive of any Excluded Expenses (as defined below) do not exceed 0.30% of the Trust’s Managed Assets (the “Operating Expense Limitation”).
(b) “Excluded Expenses” are (i) investment advisory fees, (ii) investor support and secondary market services fees, (iii) taxes, (iv) expenses incurred directly or indirectly by the Trust as a result of an investment in a permitted investment (including, without limitation, acquired fund fees and expenses), (v) expenses associated with the acquisition or disposition of portfolio investments (including, without limitation, brokerage commissions and other trading or transaction expenses), (vi) leverage expenses (including, without limitation, costs associated with the issuance or incurrence of leverage, commitment fees, interest expense or dividends on preferred shares), (vii) expenses incurred in connection with issuances and sales of shares of the Trust (including, without limitation, fees, commissions and offering costs), (viii) dividends on short sales, if any, (ix) securities lending costs, if any, (x) expenses of holding, and soliciting proxies for, meetings of shareholders of the Trust (except to the extent relating to routine items such as the election of trustees), (xi) expenses of a reorganization, restructuring, redomiciling or merger of the Trust or the acquisition of all or substantially all of the assets of another fund, or (xii) any extraordinary expenses not incurred in the ordinary course of the Trust’s business (including, without limitation, expenses related to litigation, derivative actions, demands related to litigation, regulatory or other government investigations and proceeding).
Expense Cap. DSA agrees to waive fees and reimburse the expenses of each share class of Xxxxx New York Venture Fund, to the extent it is necessary to ensure that the actual expense incurred by each authorized Class of shares, after recognizing the benefits of custody or other credits, fee waivers, and expense reimbursements, not exceed: Class A shares: 1.00%, Class B shares: 1.75%, Class C shares: 1.75%, Class R shares, 1.25%, and Class Y shares 0.75% of net assets.
Expense Cap. As approved by the Board of Trustees of the Ascendant Feeder Fund and disclosed in a filing pursuant to Rule 485(b) under the Securities Act of 1933, as amended (the “1933 Act”), with the Securities and Exchange Commission (the “SEC”) on June 15, 2011, Ascendant has contractually agreed to limit the total expense ratio of the Ascendant Feeder Fund through October 12, 2012, as follows: 2.60% for the Class A Shares, 3.35% for the Class C Shares and 2.35% for the Class I Shares (the “Initial Expense Cap”). HFAM will require the total expense ratio for the HFAM Feeder Fund through the term of this Agreement (inclusive of fees attributable to the Master Fund) to be capped at 2.25% for the Class A Shares, 2.90% for the Class C Shares and 1.90% for the Class Z Shares (the “New Expense Cap”).
Expense Cap. Lender agrees that Loan Expenses charged to Borrower shall not exceed the aggregate sum of $30,000 annually (the “Expense Cap”); provided, however, that the Expense Cap on Loan Expenses shall not apply (a) upon the occurrence and during the continuance of any Event of Default, including, without limitation, to Loan Expenses incurred in connection with collection efforts or exercise of Lender’s remedies under the Loan Documents or otherwise, (b) to Loan Expenses incurred in connection with any amendment or modification of the Loan Documents, including, without limitation, any workout or restructure of this Agreement and the Loan Documents, (c) to Loan Expenses incurred in connection with the drafting, negotiation and closing of this Agreement and the other Loan Documents,
Expense Cap. The calendar year “2021” set forth in Section 4.2.5 of the Lease is hereby deleted in its entirety and replaced with calendar year “2022”.
Expense Cap. For purposes of computing Tenant's PRO RATA share of Operating Expense Increases, any increases in aggregate Controllable Operating Expenses (as defined below) which exceed five percent (5%) per year on a cumulative basis over the Term shall not be included in Tenant's Operating Expense Increases. As used herein, the term "Controllable Operating Expenses" means those Operating Expenses which are generally negotiable by Landlord, such as management fees, landscaping fees, and other fees payable under short-term contracts. "Controllable Operating Expenses" would not include such costs as (by way of example only, and not of limitation) utilities charges, Real Property Taxes, fees and costs payable under long term contracts (I.E., contracts not expiring in less than one year), insurance premiums, and similar expenses.
Expense Cap. Lender agrees that Loan Expenses charged to Borrower shall not exceed the aggregate sum of $30,000 annually (the “Expense Cap”); provided, however, that the Expense Cap on Loan Expenses shall not apply (a) upon the occurrence and during the continuance of any Event of Default, including, without limitation, to Loan Expenses incurred in connection with collection efforts or exercise of Lender’s remedies under the Loan Documents or otherwise, (b) to Loan Expenses incurred in connection with any amendment or modification of the Loan Documents, including, without limitation, any workout or restructure of this Agreement and the Loan Documents, (c) to Loan Expenses incurred in connection with the drafting, negotiation and closing of this Agreement and the other Loan Documents, (d) to Loan Expenses incurred in connection with Loan Closings, and (e) to costs incurred in connection with any audit permitted by Section 9.13 of this Agreement or otherwise permitted by the Loan Documents.
