Common use of Fee Waiver and/or Expense Reimbursement Clause in Contracts

Fee Waiver and/or Expense Reimbursement. With respect to each Fund, the Manager agrees to waive fees payable to it pursuant to the Investment Management Agreement and/or reimburse operating expenses for the Fund in an amount sufficient to keep the total annual operating expenses (excluding distribution and service (12b-1) fees, interest expenses, taxes, acquired fund fees and expenses, fees incurred in acquiring and disposing of portfolio securities and extraordinary expenses) for each class of shares of the Funds at the levels set forth in Schedule A (“Maximum Permitted Rate”).

Fee Waiver and/or Expense Reimbursement. With respect to each Fund, the Manager agrees to waive fees payable to it pursuant to the Investment Management Agreement and/or reimburse operating expenses for the Fund in an amount sufficient to keep the total annual operating expenses (excluding distribution and service (12b-1) fees, interest expenses, taxes, acquired fund fees and expenses, fees incurred in acquiring and disposing of portfolio securities and extraordinary expenses) for each class of shares of the Funds at the levels set forth in Schedule A (“Maximum Permitted Rate”).

Fee Waiver and/or Expense Reimbursement. With respect to each Fund, the Manager agrees to waive fees payable to it pursuant to the Investment Management Agreement and/or reimburse operating expenses for the Fund in an amount sufficient to keep the total annual operating expenses (excluding distribution and service (12b-1) fees, interest expenses, taxes, acquired fund fees and expenses, fees incurred in acquiring and disposing of portfolio securities and extraordinary expenses) for each class of shares of the Funds at the levels set forth in Schedule A (“Maximum Permitted Rate”).