Fee Recovery. The Adviser shall be entitled to recover from the Fund, subject to approval by the Board of Trustees of the Trust, amounts waived, reduced or reimbursed by the Adviser with respect to the Fund pursuant to this Agreement for a period of up to three (3) years from the date on which the Adviser reduced its compensation and/or assumed expenses for the Fund. The Adviser is permitted to seek recoupment of fees waived or expenses reimbursed are limited to the lesser of (a) the Expense Limitation in effect at the time fees were waived or expenses were reimbursed, or (b) the Expense Limitation in effect at the time of recoupment. No reimbursement will occur unless the Fund’s expenses are below the Expense Limitation
Appears in 10 contracts
Samples: Expense Limitation/Reimbursement Agreement (FundVantage Trust), Expense Limitation/Reimbursement Agreement (FundVantage Trust), Expense Limitation/Reimbursement Agreement (FundVantage Trust)
Fee Recovery. The Adviser shall be entitled to recover from the Fund, subject to approval by the Board of Trustees of the Trust, amounts waived, reduced waived or reimbursed by the Adviser with respect to the Fund pursuant to this Agreement for a period of up to three (3) years from the date on which the Adviser reduced its compensation and/or assumed expenses for the Fund. The Adviser is permitted to seek recoupment of fees waived or expenses reimbursed are limited to the lesser of (a) the Expense Limitation in effect at the time fees were waived or expenses were reimbursed, or and (b) the Expense Limitation in effect at the time of recoupment. No reimbursement will occur unless the Fund’s expenses are below the Expense Limitation.
Appears in 2 contracts
Samples: Expense Limitation/Reimbursement Agreement (FundVantage Trust), Expense Limitation/Reimbursement Agreement (FundVantage Trust)
Fee Recovery. The Adviser shall be entitled to recover from the Fund, subject to approval by the Board of Trustees of the Trust, amounts waived, reduced or reimbursed by the Adviser with respect to the Fund pursuant to this Agreement for a period of up to three (3) years from the date on year in which the Adviser reduced its compensation and/or assumed expenses for the Fund. The Adviser is permitted to seek recoupment of fees waived or expenses reimbursed are limited to the lesser of (a) the Expense Limitation in effect at the time fees were waived or expenses were reimbursed, or (b) the Expense Limitation in effect at the time of recoupment. No reimbursement will occur unless the Fund’s expenses are below the Expense Limitation
Appears in 1 contract
