Common use of Investment Advisory Fee Clause in Contracts

Investment Advisory Fee. For all services to be rendered, payments to be made and costs to be assumed by you as provided in sections 2 and 3 hereof, the Fund shall pay you in United States Dollars on the last day of each month the unpaid balance of a monthly fee at an annual rate equal to the amount set forth in Schedule A hereto of the average daily value of the Fund’s net assets. “Net assets” means the total assets of the Fund minus the sum of the accrued liabilities. For any period less than a month during which this Agreement is in effect, the fee shall be prorated according to the proportion which such period bears to a full month of 28, 29, 30 or 31 days, as the case may be. The “average daily net assets” of the Fund shall mean the average of the values placed on the Fund’s net assets as of 4:00 p.m. (New York time) on each day on which the net asset value of the Fund is determined consistent with the provisions of Rule 22c-1 under the 1940 Act or, if the Corporation lawfully determines the value of the Fund’s net assets as of some other time on each business day, as of such time. The value of the net assets of the Fund shall always be determined pursuant to the applicable provisions of the Articles and the Registration Statement. If the determination of net asset value for the Fund does not take place for any particular day, then for the purposes of this section 5, the value of the net assets of the Fund as last determined shall be deemed to be the value of its net assets as of 4:00 p.m. (New York time), or as of such other time as the value of the net assets of the Fund’s portfolio may be lawfully determined on that day. If the Corporation determines the value of the net assets of the Fund’s portfolio more than once on any day, then the last such determination thereof on that day shall be deemed to be the sole determination thereof on that day for the purposes of this section 5.

Investment Advisory Fee. For all services to be rendered, payments to be made and costs to be assumed by you as provided in sections 2 and 3 hereof, the each Fund shall pay you in United States Dollars on the last day of each month the unpaid balance of a monthly fee at an annual rate equal to the amount set forth in Schedule A hereto of the average daily value of the such Fund’s net assets. “Net assets” means the total assets of the a Fund minus the sum of the accrued liabilities. For any period less than a month during which this Agreement is in effect, the fee shall be prorated according to the proportion which such period bears to a full month of 28, 29, 30 or 31 days, as the case may be. The With respect to each Fund, the “average daily net assets” of the each such Fund shall mean the average of the values placed on the such Fund’s net assets as of 4:00 p.m. (New York time) on each day on which the net asset value of the Fund is determined consistent with the provisions of Rule 22c-1 under the 1940 Act or, if the Corporation lawfully determines the value of the Fund’s net assets as of some other time on each business day, as of such time. The value of the net assets of the each Fund shall always be determined pursuant to the applicable provisions of the Articles and the Registration Statement. If the determination of net asset value for the a Fund does not take place for any particular day, then for the purposes of this section 5, the value of the net assets of the Fund as last determined shall be deemed to be the value of its net assets as of 4:00 p.m. (New York time), or as of such other time as the value of the net assets of the Fund’s portfolio may be lawfully determined on that day. If the Corporation determines the value of the net assets of the a Fund’s portfolio more than once on any day, then the last such determination thereof on that day shall be deemed to be the sole determination thereof on that day for the purposes of this section 5.