Expense Limit Methodology Clause Samples

Expense Limit Methodology. Artisan Partners will first reimburse the Fund for such portion of class-level expenses incurred by a share class of the Fund to the extent necessary to meet the Expense Limit (the “Class-Level Reimbursement”). In the event the Class-Level Reimbursement is insufficient to meet the Expense Limit, Artisan Partners will waive such portion of its management fee necessary to meet the Expense Limit (the “Management Fee Waiver”). In the event the Class-Level Reimbursement and Management Fee Waiver are insufficient to meet the Expense Limit, Artisan Partners will reimburse the Fund for such portion of fund-level expenses incurred by the Fund to the extent necessary to meet the Expense Limit.