Expenses of the Trust. NOT PAID BY THE ADVISER. The Adviser will not be required to pay any expenses which this Agreement does not expressly make payable by it. In particular, and without limiting the generality of the foregoing but subject to the provisions of Section 3, the Adviser will not be required to pay under this Agreement:
(a) any and all expenses, taxes and governmental fees incurred by the Trust prior to the effective date of this Agreement;
(b) without limiting the generality of the foregoing clause (a), the expenses of organizing the Trust (including without limitation, legal, accounting and auditing fees and expenses incurred in connection with the matters referred to in this clause (b)), of initially registering shares of the Trust under the Securities Act of 1933, as amended, and of qualifying the shares for sale under state securities laws for the initial offering and sale of shares;
(c) the compensation and expenses of Trustees who are not interested persons (as used in this Agreement, such term shall have the meaning specified in the 1940 Act) of the Adviser and of independent advisers, independent contractors, consultants, managers and other unaffiliated agents employed by the Trust other than through the Adviser;
(d) legal, accounting, financial management, tax and auditing fees and expenses of the Trust (including an allocable portion of the cost of its employees rendering such services to the Trust);
(e) the fees and disbursements of custodians and depositories of the Trust's assets, transfer agents, disbursing agents, plan agents and registrars;
(f) taxes and governmental fees assessed against the Trust's assets and payable by the Trust;
(g) the cost of preparing and mailing dividends, distributions, reports, notices and proxy materials to shareholders of the Trust;
(h) brokers' commissions and underwriting fees;
(i) the expense of periodic calculations of the net asset value of the shares of the Trust; and
(j) insurance premiums on fidelity, errors and omissions and other coverages.
Expenses of the Trust. Other than as provided for in Sections 1 and 3, the Trust shall be responsible for all of its own fees, expenses, charges, assessments, taxes, and other costs incurred in its operations, whether incurred directly by the Trust or incurred by the Manager on behalf of the Trust (together, “fees and expenses”). Such fees and expenses payable by the Trust shall include, but are not limited to:
i. Fees and expenses paid to the Manager as provided herein;
ii. Brokerage fees and commissions in connection with the purchase and sale of securities for the Series;
iii. Fees and expenses of transfer and dividend disbursing agents, sub-transfer agents, custodians, securities lending agents, administrators and shareholder servicing and record-keeping agents, including the expenses of issue, repurchase or redemption of its shares;
iv. Fees and expenses of registering and maintaining the registration of the Series and its shares under federal and any applicable state laws; including the printing and distribution of prospectuses to its existing shareholders;
v. Fees and expenses incident to meetings of the shareholders of the Trust, reports to the Series’ shareholders, the filing of reports with regulatory bodies and the maintenance of the Series’ and the Trust’s legal existence;
vi. Fees and expenses of all audits by independent public accountants;
vii. Fees and expenses of legal counsel to the Series and/or the trustees, including the legal fees related to the registration and continued qualification of the Series’ shares for sale;
viii. Compensation of, and fees and expenses incurred by those individuals serving as, trustees who are not directors, officers, employees or shareholders of the Manager or any of its affiliates;
ix. Fees and expenses relating to the pricing and return data of Series assets and related indices to the extent necessary for disclosure in regulatory filings for the Trust, including expenses of obtaining quotations for calculating the value of the Series’ net assets;
x. The Series’ pro rata portion of fidelity bond, errors and omissions, and trustees and officer liability insurance premiums;
xi. The Series’ pro-rata portion of fees and expenses in connection with membership in investment company organizations or trade associations, as approved by the Board;
xii. Salaries and other compensation, in whole or in part, of officers and employees of the Trust who are not officers, directors, or employees of the Manager or its affiliates (provided, however...
Expenses of the Trust. All of the ordinary business expenses incurred in the operations of the Trust and the offering of its shares shall be borne by the Trust unless specifically provided otherwise in this Agreement. These expenses borne by the Trust include but are not limited to brokerage commissions, taxes, legal, accounting, auditing, or governmental fees, the cost of preparing share certificates, custodian, transfer and shareholder service agent costs, expenses of issue, sale, redemption and repurchase of shares, expenses of registering and qualifying shares for sale, expenses relating to trustees and shareholder meetings, the cost of preparing and distributing reports and notices to shareholders, the fees and other expenses incurred by the Trust in connection with membership in investment company organizations and the cost of printing copies of prospectuses and statements of additional information distributed to the Trust's shareholders.
Expenses of the Trust. It is understood that the Trust will pay all of its own expenses other than those expressly assumed by the Manager herein, which expenses payable by the Trust shall include:
A. Fees and expenses paid to the Manager as provided herein;
B. Expenses of all audits by independent public accountants;
C. Expenses of transfer agent, registrar, custodian, dividend disbursing agent and shareholder record-keeping services, including the expenses of issue, repurchase or redemption of its shares;
D. Expenses of obtaining quotations for calculating the value of the Trust's net assets;
E. Salaries and other compensations of executive officers of the Trust who are not officers, directors, stockholders or employees of the Manager or its affiliates;
F. Taxes levied against the Trust;
G. Brokerage fees and commissions in connection with the purchase and sale of securities for the Trust;
H. Costs, including the interest expense, of borrowing money;
I. Costs incident to meetings of the Board of Trustees and shareholders of the Trust, reports to the Trust's shareholders, the filing of reports with regulatory bodies and the maintenance of the Trust's and the Trust's legal existence;
J. Legal fees, including the legal fees related to the registration and continued qualification of the Trust's shares for sale;
K. Trustees' fees and expenses to trustees who are not directors, officers, employees or stockholders of the Manager or any of its affiliates;
L. Costs and expense of registering and maintaining the registration of the Trust and its shares under federal and any applicable state laws; including the printing and mailing of prospectuses to its shareholders;
M. Trade association dues;
N. The Trust's pro rata portion of fidelity bond, errors and omissions, and trustees and officer liability insurance premiums; and
O. The Trust's portion of the cost of any proxy voting service used on its behalf.
Expenses of the Trust. All expenses of the Trust, including (i) the fees and reimbursable expenses of the Trustee in connection with the performance of its duties hereunder and (ii) to the extent not set forth herein, any other expenses of the Trustee that have been reviewed and approved by the Seller, which review shall not be required in connection with the enforcement of a remedy by the Trustee resulting from a default under this Agreement, shall be paid pursuant to Section 7.03(b).
Expenses of the Trust. Other than as provided for in Sections 1 and 3, the Trust shall be responsible for all of its own fees, expenses, charges, assessments, taxes, and other costs incurred in its operations, whether incurred directly by the Trust or incurred by the Manager on behalf of the Trust (together, “fees and expenses”). Such fees and expenses payable by the Trust shall include, but are not limited to:
i. Fees and expenses paid to the Manager as provided herein;
ii. Brokerage fees and commissions in connection with the purchase and sale of securities for the ETF Fund;
iii. Fees and expenses of transfer and dividend disbursing agents, sub-transfer agents, custodians, securities lending agents, administrators and shareholder servicing and record-keeping agents, including the expenses of issue, repurchase or redemption of its shares;
iv. Fees and expenses of registering and maintaining the registration of the ETF Fund and its shares under federal and any applicable state laws; including the printing and distribution of prospectuses to its existing shareholders;
x. Xxxx and expenses incident to meetings of the shareholders of the Trust, reports to the ETF Fund’s shareholders, the filing of reports with regulatory bodies and the maintenance of the ETF Fund’s and the Trust’s legal existence;
vi. Fees and expenses of all audits by independent public accountants;
vii. Fees and expenses of legal counsel to the ETF Fund and/or the trustees, including the legal fees related to the registration and continued qualification of the ETF Fund’s shares for sale;
viii. Compensation of, and fees and expenses incurred by those individuals serving as, trustees who are not trustees, officers, employees or shareholders of the Manager or any of its affiliates;
ix. Fees and expenses relating to the pricing and return data of ETF Fund assets and related indices to the extent necessary for disclosure in regulatory filings for the Trust, including expenses of obtaining quotations for calculating the value of the ETF Fund’s net assets;
x. The ETF Fund’s pro rata portion of fidelity bond, errors and omissions, and directors and officers liability insurance premiums;
xi. The ETF Fund’s pro-rata portion of fees and expenses in connection with membership in investment company organizations or trade associations, as approved by the Board;
xii. Salaries and other compensation, in whole or in part, of officers and employees of the Trust who are not officers, trustees, or employees of the Manager or its aff...
Expenses of the Trust. Other than as provided for in Sections 1 and 3, the Trust shall be responsible for all of its own fees, expenses, charges, assessments, taxes, and other costs incurred in its operations, whether incurred directly by the Trust or incurred by the Manager on behalf of the Trust (together, “fees and expenses”). Such fees and expenses payable by the Trust shall include, but are not limited to: i. Fees and expenses paid to the Manager as provided herein; ii. Brokerage fees and commissions in connection with the purchase and sale of securities for the ETF; iii. Fees and expenses of transfer and dividend disbursing agents, sub-transfer agents, custodians, securities lending agents, administrators and shareholder servicing and record-keeping agents, including the expenses of issue, repurchase or redemption of its shares; iv. Fees and expenses of registering and maintaining the registration of the ETF and its shares under federal and any applicable state laws; including the printing and distribution of prospectuses to its existing shareholders; v. Fees and expenses incident to meetings of the shareholders of the Trust, reports to the ETF’s shareholders, the filing of reports with regulatory bodies and the maintenance of the ETF’s and the Trust’s legal existence; vi. Fees and expenses of all audits by independent public accountants;
Expenses of the Trust. It is understood that the Trust (or each of its funds (including the Funds), where applicable) will pay, or will enter into arrangements that require third parties to pay, all of the expenses of the Trust or such funds, other than those expressly assumed by the Manager herein, including without limitation:
A. Advisory, sub-advisory and administrative fees;
B. Fees for services of independent public accountants;
C. Legal and consulting fees;
D. Transfer agent, custodian and portfolio recordkeeping and tax information services;
E. Expenses of periodic calculations of the funds' net asset values and of equipment for communication among the funds' custodian, transfer agent and others;
F. Taxes and the preparation of the funds' tax returns;
G. Brokerage fees and commissions;
H. Interest;
I. Costs of Board of Trustees and shareholder meetings;
J. Updates and printing of prospectuses and reports to shareholders;
K. Fees for filing reports with regulatory bodies and the maintenance of the Trust's existence;
L. Membership dues for industry trade associations;
M. Fees to federal authorities for the registration of the shares of the funds;
N. Fees and expenses of Trustees who are not directors, officers, employees or stockholders of the Manager of its affiliates;
O. Insurance and fidelity bond premiums; and
P. Litigation and other extraordinary expenses of a non-recurring nature.
Expenses of the Trust. The Trust shall pay all of its expenses not expressly assumed by the Advisor herein. Without limitation, the expenses of the Trust, assumed by the Trust hereby, shall include the following:
a. Expenses related to the continued existence of the Trust.
b. Fees and expenses of the Trustees (except those affiliated with the Advisor), the officers and the administrative employees of the Trust.
c. Fees paid to the Advisor hereunder.
d. Fees and expenses of preparing, printing and distributing official filings, reports, prospectuses and documents required pursuant to applicable state and Federal securities law and expenses of reports to shareholders.
e. Fees and expenses of custodians, transfer agents, dividend disbursing agents, shareholder servicing agents, registrars, and similar agents.
f. Expenses related to the issuance, registration, repurchase, exchange and redemption of shares and certificates representing shares.
g. Auditing, accounting, legal, insurance, portfolio administration, association membership, printing, postage, and other administrative expenses.
h. Expenses relating to qualification or licensing of the Trust, shares in the Trust, or officers, employees and agents of the Trust under applicable state and Federal securities law.
i. Expenses related to shareholder meetings and proxy solicitations and materials.
j. Interest expense, taxes and franchise fees, and all brokerage commissions and other costs related to purchase and sales of portfolio securities. In addition, the Trust shall assume all losses and liabilities incurred in the administration to the Trust and of its investment portfolio; and it shall pay such non-recurring expenses as may arise through litigation, administrative proceedings, claims against the Trust, the indemnification of Trustees, officers, employees, shareholders and agents, or otherwise.
Expenses of the Trust. The expenses of the Trust, including (i) the fees of the Trustee (including any portion of the Trustee Fee not paid pursuant to Section 7.03(b) hereof), (ii) any reasonable expenses of the Trustee, and (iii) any other expenses of the Trust that have been reviewed by ContiMortgage, which review shall not be required in connection with the enforcement of a remedy by the Trustee resulting from a default under this Agreement, shall be paid directly by ContiMortgage. ContiMortgage shall pay directly the reasonable fees and expenses of counsel to the Trustee. The reasonable fees and expenses of the Trustee's counsel in connection with the review and delivery of this Agreement and related documentation shall be paid by ContiMortgage on the Startup Day.
