Common use of Expense Limit Clause in Contracts

Expense Limit. The Advisor has contractually agreed to waive fees and reimburse expenses to the extent necessary to ensure the Funds’ total annual operating expenses (excluding dividend expenses relating to short sales, interest, taxes, brokerage commissions, other expenditures which are capitalized in accordance with generally accepted accounting principles, the cost of “Acquired Fund Fees and Expenses,” if any, other extraordinary expenses not incurred in the ordinary course of business, amounts, if any, payable pursuant to a shareholder servicing plan and amounts, if any, payable pursuant to a plan adopted in accordance with Rule 12b-1 under the 1940 Act) (“Fund Operating Expenses”) do not exceed the contractual limits set forth in Schedule A. The contractual limits on Fund Operating Expenses (“Operating Expense Limit”) set forth in Schedule A below have been adjusted for each class of each Fund to include the effect of Rule 12b-1 fees, shareholder servicing fees and other anticipated class specific expenses, if applicable.

Expense Limit. The Advisor has contractually agreed to waive fees and reimburse expenses to the extent necessary to ensure the Funds’ total annual operating expenses (excluding dividend and interest expenses relating to short sales, ; interest, ; taxes, ; brokerage commissions, commissions and other transaction costs; portfolio transactions and investment related expenses; other expenditures which are capitalized in accordance with generally accepted accounting principles, ; the cost of “Acquired Fund Fees and Expenses,” if any, ; and other extraordinary expenses not incurred in the ordinary course of business, ; amounts, if any, payable pursuant to a shareholder servicing plan plan; and amounts, if any, payable pursuant to a plan adopted in accordance with Rule 12b-1 under the 1940 Act) (“Fund Operating Expenses”) do not exceed the contractual limits limit set forth in Schedule A. The contractual limits on Fund Operating Expenses (“Operating Expense Limit”) set forth in Schedule A below have been adjusted for each class of each Fund to include the effect of any waivers of Rule 12b-1 fees, shareholder servicing fees fees, and other anticipated class specific expenses, if applicable.