Common use of Expense Limitation Clause in Contracts

Expense Limitation. If, for any fiscal year, the total of all ordinary business expenses of the Fund, including all investment advisory fees but excluding brokerage commissions and fees, taxes, interest and extraordinary expenses such as litigation, would exceed the most restrictive expense limits imposed by any statute or regulatory authority of any jurisdiction in which shares of the Fund are offered for sale, the investment advisory fee shall be reduced by the amount of such excess. The amount of any such reduction to be borne by the Investment Adviser shall be deducted from the monthly investment advisory fee otherwise payable to the Investment Adviser during such fiscal year; and if such amount should exceed such monthly fee, the Investment Adviser agrees to pay to the Fund such excess expenses no later than the last day of the first month of the next succeeding fiscal year. For the purposes of this paragraph, the term "fiscal year" shall exclude the portion of the current fiscal year which shall have elapsed prior to the date hereof and shall include the portion of the then-current fiscal year which shall have elapsed at the date of termination of this Agreement.

Expense Limitation. If, for any fiscal year, the total of all ------------------ ordinary business expenses of the Fund, including all investment advisory fees but excluding brokerage commissions and fees, taxes, interest and extraordinary expenses such as litigation, would exceed the most restrictive expense limits imposed by any statute or regulatory authority of any jurisdiction in which shares of the Fund are offered for sale, the investment advisory fee shall be reduced by the amount of such excess. The amount of any such reduction to be borne by the Investment Adviser shall be deducted from the monthly investment advisory fee otherwise payable to the Investment Adviser during such fiscal year; and if such amount should exceed such monthly fee, the Investment Adviser agrees to pay to the Fund such excess expenses no later than the last day of the first month of the next succeeding fiscal year. For the purposes of this paragraph, the term "fiscal year" shall exclude the portion of the current fiscal year which shall have elapsed prior to the date hereof and shall include the portion of the then-current fiscal year which shall have elapsed at the date of termination of this Agreement.

Expense Limitation. If, for any fiscal year, the total of all ordinary business expenses of the Fund, including all investment advisory fees but excluding brokerage commissions and fees, taxes, interest and extraordinary expenses such as litigation, would exceed the most restrictive expense limits limitations applicable to the Fund imposed by any statute the securities laws or regulatory authority regulations thereunder of any jurisdiction state in which the Fund's shares of the Fund are offered qualified for sale, the aggregate of all such investment advisory fee fees shall be reduced by the amount of such excess. The amount of any such reduction to be borne by the Investment Adviser shall be deducted from the monthly quarterly investment advisory fee otherwise payable to the Investment Adviser during such fiscal year; and if such amount should exceed such monthly quarterly fee, the Investment Adviser agrees to pay to the Fund such excess expenses no later than the last day of the first month of the next succeeding fiscal year. For the purposes of this paragraph, the term "fiscal year" shall exclude the portion of the current fiscal year which shall have elapsed prior to the date hereof and shall include the portion of the then-then current fiscal year which shall have elapsed at the date of termination of this Agreement.

Expense Limitation. If, for any fiscal year, the total of all ordinary business expenses of the Fund, including all investment advisory fees but excluding brokerage commissions and fees, taxes, interest and extraordinary expenses such as litigation, would exceed the most restrictive expense limits imposed by any statute or regulatory authority of any jurisdiction in which shares of the Fund are offered for sale, the investment advisory fee shall be reduced by the amount of such excess. The amount of any such reduction to be borne by the Investment Adviser Manager shall be deducted from the monthly investment advisory fee otherwise payable to the Investment Adviser Manager during such fiscal year; and if such amount should exceed such monthly fee, the Investment Adviser Manager agrees to pay to the Fund such excess expenses no later than the last day of the first month of the next succeeding fiscal year. For the purposes of this paragraph, the term "fiscal year" shall exclude the portion of the current fiscal year which shall have elapsed prior to the date hereof and shall include the portion of the then-then current fiscal year which shall have elapsed at the date of termination of this Agreement.

Expense Limitation. If, for any fiscal year, the total of all ordinary business expenses of the Fund, including all investment advisory fees but excluding brokerage commissions and fees, taxes, interest and extraordinary expenses such as litigation, would exceed the most restrictive expense limits imposed by any statute or regulatory authority of any jurisdiction in which shares of the Fund are offered for sale, the investment advisory fee shall be reduced by the amount of such excess. The amount of any such reduction to be borne by the Investment Adviser shall be deducted from the monthly quarterly investment advisory fee otherwise payable to the Investment Adviser during such fiscal year; and if such amount should exceed such monthly quarterly fee, the Investment Adviser agrees to pay to the Fund such excess expenses no later than the last day of the first month of the next succeeding fiscal year. For the purposes of this paragraph, the term "fiscal year" shall exclude the portion of the current fiscal year which shall have elapsed prior to the date hereof and shall include the portion of the then-then current fiscal year which shall have elapsed at the date of termination of this Agreement.

Expense Limitation. If, for any fiscal year, the total of all ordinary business expenses of the Fund, including all investment advisory fees but excluding brokerage commissions and fees, taxes, interest and extraordinary expenses such as litigation, would exceed the most restrictive expense limits imposed by any statute or regulatory authority of any jurisdiction in which shares the Fund's securities are offered as determined in the manner described above as of the Fund are offered for saleclose of business on each business day during such fiscal year, the aggregate of all such investment advisory fee management fees shall be reduced by the amount of such excessexcess but will not be required to reimburse the Fund for any ordinary business expenses which exceed the amount of its advisory fee for the such fiscal year. The amount of any such reduction to be borne by the Investment Adviser shall be deducted from the monthly investment advisory fee otherwise payable to the Investment Adviser during such fiscal year; and if such amount should exceed such monthly fee, the Investment Adviser agrees to pay repay to the Fund such excess expenses amount of its investment management fee previously received with respect to such fiscal year as may be required to make up the deficiency no later than the last day of the first month of the next succeeding fiscal year. For the purposes of this paragraph, the term "fiscal year" shall exclude the portion of the current fiscal year which shall have elapsed prior to the date hereof and shall include the portion of the then-then current fiscal year which shall have elapsed at the date of termination of this Agreement.

Expense Limitation. If, for any fiscal year, the total of all ordinary business expenses of the Fund, including all investment advisory fees but excluding brokerage commissions and commissions, distribution fees, taxes, interest and extraordinary expenses such as litigationand certain other excludable expenses, would exceed the most restrictive expense limits imposed by any statute or regulatory authority of any jurisdiction in which shares of the Fund are offered for salesale (unless a waiver is obtained), the investment Adviser shall reduce its advisory fee shall in order to reduce such excess expenses, but will not be reduced by required to reimburse the Fund for any ordinary business expenses which exceed the amount of its advisory fee for such excessfiscal year. The amount of any such reduction is to be borne by the Investment Adviser and shall be deducted from the monthly investment advisory management fee otherwise payable to the Investment Adviser during such fiscal year; and if such amount should exceed such monthly fee, the Investment Adviser agrees to pay to the Fund such excess expenses no later than the last day of the first month of the next succeeding fiscal year. For the purposes of this paragraph, the term "fiscal year" shall exclude the portion of the current fiscal year which shall have elapsed prior to the date hereof and shall include the 7 portion of the then-then current fiscal year which shall have elapsed at the date of termination of this Agreement.

Expense Limitation. If, for any fiscal year, the total of all ------------------ ordinary business expenses of the Fund, including all investment advisory fees but excluding brokerage commissions and fees, taxes, interest and extraordinary expenses such as litigation, would exceed the most restrictive expense limits imposed by any statute or regulatory authority of any jurisdiction in which shares of the Fund are offered for sale, the investment advisory fee shall be reduced by the amount of such excess. The amount of any such reduction to be borne by the Investment Adviser shall be deducted from the monthly investment advisory fee otherwise payable to the Investment Adviser during such fiscal year; and if such amount should exceed such monthly fee, the Investment Adviser agrees to pay to the Fund such excess expenses no later than the last day of the first month of the next succeeding fiscal year. For the purposes of this paragraph, the term "fiscal year" shall exclude the portion of the current fiscal year which shall have elapsed prior to the date hereof and shall include the portion of the then-then current fiscal year which shall have elapsed at the date of termination of this Agreement.

Expense Limitation. If, for any fiscal year, the total of all ordinary business expenses of the Fund, including all investment advisory fees but excluding brokerage commissions and fees, taxes, interest and extraordinary expenses such as litigation, would exceed the most restrictive expense limits imposed by any statute or regulatory authority of any jurisdiction in which shares of the Fund are offered for sale, the investment advisory fee shall be reduced by the amount of such excess. The amount of any such reduction to be borne by the Investment Adviser shall be deducted from the monthly investment advisory fee otherwise payable to the Investment Adviser during such fiscal year; and if such amount should exceed such monthly fee, the Investment Adviser agrees to pay to the Fund such excess expenses no later than the last day of the first month of the next succeeding fiscal year. For the purposes of this paragraph, the term "fiscal year" shall exclude the portion of the current fiscal year which shall have elapsed prior to the date hereof and shall include the portion of the then-then current fiscal year which shall have elapsed at the date of termination of this Agreement.