Fee Waiver and Expense Reimbursement. The Adviser agrees, subject to Section 2 hereof, to reduce the fees payable under the Advisory Agreement (but not below zero) and/or reimburse other expenses of a Fund (including, but not limited to, organizational and offering costs), to the extent necessary to limit the total operating expenses of the Fund (exclusive of brokerage costs, interest, taxes, dividends, litigation and indemnification expenses, expenses associated with the investments in underlying investment companies and extraordinary expenses (as determined under generally accepted principles) (“Excluded Expenses”)), to the amount of the “Maximum Operating Expense Limit” applicable to each class of the Fund as set forth on the attached Schedule A. Schedule A may be amended to add or delete a Fund or class, or to increase or decrease the Maximum Operating Expense Limit applicable to a Fund, as provided in this Agreement.
Fee Waiver and Expense Reimbursement. The Adviser agrees to reduce the fees payable under the Advisory Agreement (but not below zero) and/or to reimburse other expenses of the Fund, to the extent necessary to limit the total operating expenses of the Fund (exclusive of brokerage costs, interest, taxes, dividends, litigation and indemnification expenses, expenses associated with the investments in underlying investment companies and extraordinary expenses (as determined under generally accepted principles)), calculated as a percentage of the Fund’s average daily net assets, to 0.50%, 0.60%, 0.75%, and 0.50% for Institutional Shares, Advisor Shares, Investor Shares, and Class Z Shares, respectively (the “Supplemental Expense Limitations”).
Fee Waiver and Expense Reimbursement. (a) The Adviser agrees, subject to Section 2 hereof, to reduce the fees payable under the Advisory Agreement (but not below zero) and/or reimburse other expenses of a Fund (including, but not limited to, organizational and offering costs) to the extent necessary to limit the total operating expenses of the Fund (exclusive of (i) for each Fund, brokerage costs, interest, taxes, dividends, litigation and indemnification expenses and extraordinary expenses (as determined under generally accepted principles), and (ii) for each Fund other than the Barrow Hanley Credit Opportunities Fund, expenses associated with investments in underlying investment companies (“Excluded Expenses”)), to the amount of the “Maximum Operating Expense Limit” applicable to each class of the Fund as set forth on the attached Schedule A. Schedule A may be amended to add or delete a Fund or class, or to increase or decrease the Maximum Operating Expense Limit applicable to a Fund, as provided in this Agreement.
Fee Waiver and Expense Reimbursement. Each month the Fund Operating Expenses shall be annualized as of the last day of the month. The Adviser shall waive or reduce the Advisory Fee for such month by an amount sufficient to pay the Fund Operating Expenses, subject to the Waiver Cap (the “Fee Waiver”). If the amount of the waived or reduced Advisory Fee is insufficient to pay all of the Fund Operating Expenses because of the Waiver Cap, the remaining Fund Operating Expenses shall be the liability of the Fund; provided, that in the event the Fund Operating Expenses in any given fiscal year exceed 2.00% of the average net asset value of the Fund for such year (the “Expense Limitation”), as determined by valuations made as of the close of each business day of such year, then the Adviser shall reimburse the Fund for such excess (the “Excess Amount”). The Trust shall monitor the Fund’s expense ratio on a monthly basis. If the accrued amount of the expenses of the Fund exceeds the Expense Limitation, the Fund shall create an account receivable from the Adviser in the amount of such excess.
Fee Waiver and Expense Reimbursement. The Sub-Manager agrees to be responsible for 35% of the monthly fee waivers and/or expense reimbursements (“Waivers”) up to $300,000 annually associated with the Funds under the Expense Limitation Agreement currently in effect by and among the Investment Manager and the Trust (the “Expense Limitation Agreement”). The Sub-Manager will receive each month from the Investment Manager the month-end trial balance for the Funds from the fund accounting agent for the Funds, which sets forth the total expense waivers and reimbursements due to the Funds for that month, as well as reasonably requested additional information from the Investment Manager related to the expenses of the Funds. The Investment Manager will reduce the amount of the Sub-Management fees payable to Sub-Manager by the calculated for the required Waivers. Waivers will not be greater than the Sub-Management fee payable to the Sub-Manager in any payment. The Investment Manager shall keep a record of the amounts of fees waived and any expenses reimbursed by the Investment Manager.
Fee Waiver and Expense Reimbursement. The Sub-Manager agrees to be responsible for 35% of the monthly fee waivers and/or expense reimbursements associated with the Funds under the Expense Limitation Agreement currently in effect by and among the Investment Manager and the Trust (the “Expense Limitation Agreement”). The Sub-Manager will receive each month the month-end trial balance for the Funds from the fund accounting agent for the Funds, which sets forth the total expense waivers and reimbursements due to the Funds for that month, as well as reasonably requested additional information from the Investment Manager related to the expenses of the Funds. The Investment Manager will reduce the amount of the Sub-Management fees payable to Sub-Manager for such month by an amount equal to 35% of any amounts waived and/or reimbursed by the Investment Manager under the Expense Limitation Agreement. The Investment Manager shall keep a record of the amounts of fees waived and any expenses reimbursed by the Investment Manager.
Fee Waiver and Expense Reimbursement
