Common use of Fees and Expenses of the Fund Clause in Contracts

Fees and Expenses of the Fund. The Trust shall pay all reasonable and documented out of pocket costs and expenses in connection with the registration of the Shares under the 1933 Act, all fees in connection with making notice filings under state securities “blue sky” laws, and all expenses in connection with maintaining facilities for the issue and transfer of the Shares and for supplying information, prices and other data to be furnished by the Trust hereunder, and all expenses in connection with preparing, printing and distributing the Trust’s Prospectus to existing shareholders. The Trust will not bear any costs and expenses incurred with respect to distribution of Shares except to the extent the Trust is permitted to do so by applicable law