Expense Limit. With respect to the Funds (and classes of shares thereof, if any) identified on Schedule A, Park Avenue hereby agrees, subject to Section 2 hereof, to waive, reduce or reimburse the fees payable to Park Avenue under the Investment Management Agreement (but not below zero) and make any additional payments to the extent necessary to limit the ordinary operating expenses (including Rule 12b-1 fees (if any), but exclusive of any acquired fund fees and expenses, taxes, interest, transaction costs and brokerage commissions, litigation, and extraordinary expenses) (“Operating Expenses”) of each Fund (and classes of shares thereof, if any) to an annual rate (as a percentage of the average daily net assets of the Fund or class of shares thereof, if applicable) as set forth on Schedule A (“Expense Limit”).
Appears in 13 contracts
Samples: Expense Limitation Agreement (Guardian Variable Products Trust), Expense Limitation Agreement (Guardian Variable Products Trust), Expense Limitation Agreement (Guardian Variable Products Trust)
