Common use of EXPENSES ASSUMED AS ADMINISTRATOR Clause in Contracts

EXPENSES ASSUMED AS ADMINISTRATOR. Except as otherwise stated in this subsection 4, BISYS shall pay all expenses incurred by it in performing its services and duties as Administrator, including the cost of providing office facilities, equipment and personnel related to such services and duties. Other expenses incurred in the operation of the Trust (other than those borne by the Trust's investment adviser) including taxes, interest, brokerage fees and commissions, if any, fees of trustees who are not officers, directors, partners, employees or holders of 5 percent or more of the outstanding voting securities of the Trust's investment advisers or BISYS or any of their affiliates, Securities and Exchange Commission fees and state blue sky registration or qualification fees, advisory fees, charges of custodians, transfer and dividend disbursing agents' fees, fund accounting agents' fees, fidelity bond and trustees' and officers' errors and omissions insurance premiums, outside auditing and legal expenses, costs of maintaining corporate existence, costs attributable to shareholder services, including without limitation telephone and personnel expenses, costs of preparing and printing Prospectuses for regulatory purposes and for distribution to existing shareholders, costs of shareholders' reports and Trust meetings and any extraordinary expenses will be borne by the Trust.