Common use of Expense Limit Clause in Contracts

Expense Limit. Artisan Partners hereby agrees to bear certain expenses and waive its management fees for each share class of the Funds to the extent necessary to cause total annual fund operating expenses incurred with respect to each share class of the Funds (excluding taxes, interest, all commissions and other normal charges incident to the purchase and sale of portfolio securities, acquired fund fees and expenses, borrowing costs such as dividends on securities sold short and extraordinary charges such as litigation costs, but including management fees paid to Artisan Partners) not to exceed the annual rates (based on the average daily net assets of each respective share class of each Fund) set forth on Schedule A hereto until the date indicated on Schedule A (the “Expense Limit”).

Expense Limit. Artisan Partners hereby agrees to bear certain expenses and waive its management fees for each share class of the Funds Fund to the extent necessary to cause total annual fund operating expenses incurred with respect to each share class of the Funds (excluding taxes, interest, all commissions and other normal charges incident to the purchase and sale of portfolio securities, acquired fund fees and expenses, borrowing costs such as dividends on securities sold short and extraordinary charges such as litigation costs, but including management fees paid to Artisan Partners) not to exceed the annual rates (based on the average daily net assets of each respective share class of each Fund) set forth on Schedule A hereto until the date indicated on Schedule A (the “Expense Limit”).

Expense Limit. Artisan Partners hereby agrees to bear certain expenses and waive its management fees for each share class of the Funds to the extent necessary to cause total annual fund operating expenses incurred with respect to each share class of the Funds (excluding taxes, interest, all commissions and other normal charges incident to the purchase and sale of portfolio securities, acquired fund fees and expenses, borrowing costs such as dividends on securities sold short and extraordinary charges such as litigation costs, but including management fees paid to Artisan Partners) not to exceed the annual rates (based on the average daily net assets of each respective share class of each Fund) set forth on Schedule A hereto until the date indicated on Schedule A (the “Expense Limit”).