Common use of Expense Limitation Clause in Contracts

Expense Limitation. As part of the consideration for the Fund entering into this Agreement, the Manager hereby agrees to limit the expenses borne under paragraph 2.B., excluding interest, expenses related to borrowing, taxes and brokerage, nonrecurring extraordinary expenses, and acquired fund fees and expenses (“Manager Limitation”). Under the Manager Limitation, the Manager agrees that through September 30, 2017, such expenses for the Fund shall not exceed 0.05% of the average daily net assets of the Fund. Any such expenses that exceed 0.05% of the average daily net assets of the Fund shall be borne by the Manager and not the Fund. Subject to approval by the Board of Directors of the Corporation, the Manager may agree to an additional expense limitation at the same or a different level beyond September 30, 2017.

Expense Limitation. As part of the consideration for the Fund entering into this Agreement, the Manager hereby agrees to limit the expenses borne under paragraph 2.B., excluding interest, expenses related to borrowing, taxes and brokerage, nonrecurring extraordinary expenses, and acquired fund fees and expenses (“Manager Limitation”). Under the Manager Limitation, the Manager agrees that through September 30, 2017, such expenses for the Fund shall not exceed 0.05% of the average daily net assets of the Fund. Any such expenses that exceed 0.05% 0.05%% of the average daily net assets of the Fund shall be borne by the Manager and not the Fund. Subject to approval by the Board of Directors of the Corporation, the Manager may agree to an additional expense limitation at the same or a different level beyond September 30, 2017.