Common use of Expenses Borne by JCM Clause in Contracts

Expenses Borne by JCM. In addition to the expenses which JCM may incur in the performance of its investment advisory functions and other services under this Agreement, and the expenses which it may expressly undertake to incur and pay under other agreements with the Subsidiary or otherwise, JCM shall incur and pay the following expenses relating to the Subsidiary’s operations without reimbursement from the Subsidiary: (a) Reasonable compensation, fees and related expenses of the Directors (unless otherwise in contravention of the 1940 Act); (b) Rental of offices of the Subsidiary; and (c) Fees of any subadviser engaged by JCM pursuant to the authority granted in Section 2 hereof.