Common use of INVESTMENT ADVISORY FEES Clause in Contracts

INVESTMENT ADVISORY FEES. (a) For all of the services rendered with respect to the Fund as herein provided, the Fund will pay to the Adviser a fee at an annual rate based on the Current Net Assets (as defined below) of the Fund as set forth in Schedule A attached hereto and made a part hereof. Such fee will be accrued by the Fund daily and will be payable monthly in arrears, within fifteen business days after the last day of each month. If fees begin to accrue with respect to the Fund during the middle of a month, all fees for the period from that date to the end of the month will be prorated according to the proportion that the period bears to the full month. In the case of termination of this Agreement with respect to the Fund during any month, all fees accrued from the beginning of that month to, but excluding, the date of termination, will be prorated according to that proportion that the period bears to the full month and will be paid promptly following such termination. For purposes of computing the amount of advisory fee accrued for any day, “Current Net Assets” will mean the Fund’s net assets as of the most recent preceding day for which the Fund’s net assets were computed. (b) The Adviser voluntarily may reduce any portion of the compensation or reimbursement of expenses due to it pursuant to this Agreement and may agree to make payments to limit the expenses which are the responsibility of the Fund under this Agreement. Any such reduction or payment will be applicable only to such specific reduction or payment and will not constitute an agreement to reduce any future compensation or reimbursement due to the Adviser hereunder or to continue future payments. Any such reduction will be agreed to prior to accrual of the related expense or fee and will be estimated daily and reconciled and paid on a monthly basis. (c) Any such reductions made by the Adviser in its fees or payment of expenses which are the Fund’s obligation are subject to reimbursement by the Fund to the Adviser, if so requested by the Adviser, in any subsequent month in the three-year period from the date of the fee reduction and/or expense payment if the aggregate amount actually paid by the Fund toward the operating expenses for such month (taking into account the reimbursement) will not cause the Fund to exceed the lesser of: (1) the expense limitation in place at the time of the fee reduction and/or expense payments; or (2) the expense limitation in place at the time of the reimbursement. Such reimbursement may not be paid prior to the Fund’s payment of current ordinary operating expenses. (d) The Adviser may agree not to require payment of any portion of the compensation or reimbursement of expenses otherwise due to it pursuant to this Agreement. Any such agreement will be applicable only with respect to the specific items covered thereby and will not constitute an agreement not to require payment of any future compensation or reimbursement due to the Adviser hereunder.

INVESTMENT ADVISORY FEES. (a) For all of the services rendered with respect to the Fund as herein provided, the Fund will pay to the Adviser a fee at an annual rate based on the Current Net Assets (as defined below) of the Fund as set forth in Schedule A attached hereto and made a part hereof. Such fee will be accrued by the Fund daily and will be payable monthly in arrears, within fifteen business days after the last day of each month. If fees begin to accrue with respect to the Fund during the middle of a month, all fees for the period from that date to the end of the month will be prorated according to the proportion that the period bears to the full month. In the case of termination of this Agreement with respect to the Fund during any month, all fees accrued from the beginning of that month to, but excluding, the date of termination, will be prorated according to that proportion that the period bears to the full month and will be paid promptly following such termination. For purposes of computing the amount of advisory fee accrued for any day, “Current Net Assets” will mean the Fund’s net assets as of the most recent preceding day for which the Fund’s net assets were computed. (b) The Adviser voluntarily may reduce any portion of the compensation or reimbursement of expenses due to it pursuant to this Agreement and may agree to make payments to limit the expenses which are the responsibility of the Fund under this Agreement. Any such reduction or payment will be applicable only to such specific reduction or payment and will not constitute an agreement to reduce any future compensation or reimbursement due to the Adviser hereunder or to continue future payments. Any such reduction will be agreed to prior to accrual of the related expense or fee and will be estimated daily and reconciled and paid on a monthly basis. (c) Any such reductions made by the Adviser in its fees or payment of expenses which are the Fund’s obligation are subject to reimbursement by the Fund to the AdviserAdviser for a period of three fiscal years following the end of the fiscal year in which such reduction or payment was accrued, except for initial organizational expenses which are subject to reimbursement by the Fund to the Adviser for a period of three years from the date on which such expenses were incurred, if so requested by the Adviser, in any subsequent month in the three-year period from the date of the fee reduction and/or expense payment if the aggregate amount actually paid by the Fund toward the operating expenses for such month fiscal year (taking into account the reimbursement) will does not cause the Fund to exceed the lesser of: (1) the expense applicable limitation in place at the time of the fee reduction and/or expense payments; or (2) the expense limitation in place at the time of the reimbursementon Fund expenses. Such reimbursement may not be paid prior to the Fund’s payment of current ordinary operating expenses. (d) The Adviser may agree not to require payment of any portion of the compensation or reimbursement of expenses otherwise due to it pursuant to this Agreement. Any such agreement will be applicable only with respect to the specific items covered thereby and will not constitute an agreement not to require payment of any future compensation or reimbursement due to the Adviser hereunder.

INVESTMENT ADVISORY FEES. (a) For all of the services rendered with respect to the a Fund as herein provided, the Fund will Trust shall pay to the Adviser a fee at an annual rate based on the Current Net Assets (as defined below) of the Fund as set forth in Schedule A attached hereto and made a part hereof. Such fee will shall be accrued by the a Fund daily and will shall be payable monthly in arrears, within fifteen business days after the last day of each month. If fees begin to accrue with respect to the a Fund during the middle of a month, all fees for the period from that date to the end of the month will shall be prorated according to the proportion that the period bears to the full month. In the case of termination of this Agreement with respect to the a Fund during any month, all fees accrued from the beginning of that month to, but excluding, the date of termination, will shall be prorated according to that proportion that the period bears to the full month and will shall be paid promptly following such termination. For purposes of computing the amount of advisory fee accrued for any day, “Current Net Assets” will shall mean the a Fund’s net assets as of the most recent preceding day for which the Fund’s net assets were computed. (b) The Adviser voluntarily may reduce any portion of the compensation or reimbursement of expenses due to it pursuant to this Agreement and may agree to make payments to limit the expenses which are the responsibility of the a Fund under this Agreement. Any such reduction or payment will shall be applicable only to such specific reduction or payment and will shall not constitute an agreement to reduce any future compensation or reimbursement due to the Adviser hereunder or to continue future payments. Any such reduction will be agreed to prior to accrual of the related expense or fee and will be estimated daily and reconciled and paid on a monthly basis. (c) Any such reductions made by the Adviser in its fees or payment of expenses which are the a Fund’s obligation are subject to reimbursement by the Fund to the AdviserAdviser for a period of thirty-six months following the end of the month in which such reduction or payment was accrued, if so requested by the Adviser, in any subsequent month in the three-year period from the date of the fee reduction and/or expense payment if the aggregate amount actually paid by the Fund toward the operating expenses for such month (taking into account the reimbursement) will does not cause the Fund to exceed the lesser of: (1) the expense applicable limitation in place at the time of the fee reduction and/or expense payments; or (2) the expense limitation in place at the time of the reimbursementon Fund expenses. Such reimbursement may not be paid prior to the a Fund’s payment of current ordinary operating expenses. (d) The Adviser may agree not to require payment of any portion of the compensation or reimbursement of expenses otherwise due to it pursuant to this Agreement. Any such agreement will shall be applicable only with respect to the specific items covered thereby and will shall not constitute an agreement not to require payment of any future compensation or reimbursement due to the Adviser hereunder.

INVESTMENT ADVISORY FEES. (a) For all of the services rendered with respect to the Fund as herein provided, the Fund will pay to the Adviser a fee at an annual rate based on the Current Net Assets (as defined below) of the Fund as set forth in Schedule A attached hereto and made a part hereof. Such fee will be accrued by the Fund daily and will be payable monthly in arrears, within fifteen business days after the last day of each month. If fees begin to accrue with respect to the Fund during the middle of a month, all fees for the period from that date to the end of the month will be prorated according to the proportion that the period bears to the full month. In the case of termination of this Agreement with respect to the Fund during any month, all fees accrued from the beginning of that month to, but excluding, the date of termination, will be prorated according to that proportion that the period bears to the full month and will be paid promptly following such termination. For purposes of computing the amount of advisory fee accrued for any day, “Current Net Assets” will mean the Fund’s net assets as of the most recent preceding day for which the Fund’s net assets were computed. (b) Any amounts earned by the Adviser under this Agreement will be held in an interest-bearing escrow account established by the Fund at UMB Bank, n.a, the Fund’s custodian, or another bank independent of the Adviser. In the event that a permanent investment advisory agreement between the Fund and the Adviser regarding the management of the Fund is approved by the vote of a “majority of the outstanding voting securities” of the Fund (as that phrase is defined in Section 2(a)(42) of the 0000 Xxx) on or before the 150th day following the date hereof, then the full amount earned by the Adviser hereunder, plus interest, will be paid to the Adviser. In the event that a permanent investment advisory agreement between the Fund and the Adviser is not approved by a “majority of the outstanding voting securities” of the Fund (as that phrase is defined in Section 2(a)(42) of the 0000 Xxx) on or before the 150th day following the date hereof, then the Adviser will be paid out of the escrow account, the lesser of (i) any costs incurred by the Adviser in performing this Agreement (plus interest earned on such amount), or (ii) the total amount in the escrow account (plus interest earned). (c) The Adviser voluntarily may reduce any portion of the compensation or reimbursement of expenses due to it pursuant to this Agreement and may agree to make payments to limit the expenses which are the responsibility of the Fund under this Agreement. Any such reduction or payment will be applicable only to such specific reduction or payment and will not constitute an agreement to reduce any future compensation or reimbursement due to the Adviser hereunder or to continue future payments. Any such reduction will be agreed to prior to accrual of the related expense or fee and will be estimated daily and reconciled and paid on a monthly basis. (cd) Any such reductions made by the Adviser in its fees or payment of expenses which are the Fund’s obligation are subject to reimbursement by the Fund to the Adviser, if so requested by the Adviser, in any subsequent month in the three-year period from the date of the fee reduction and/or expense payment if the aggregate amount actually paid by the Fund toward the operating expenses for such month (taking into account the reimbursement) will not cause the Fund to exceed the lesser of: (1) the expense limitation in place at the time of the fee reduction and/or expense paymentspayment; or (2) the expense limitation in place at the time of the reimbursement. Such reimbursement may not be paid prior to the Fund’s payment of current ordinary operating expenses. (de) The Adviser may agree not to require payment of any portion of the compensation or reimbursement of expenses otherwise due to it pursuant to this Agreement. Any such agreement will be applicable only with respect to the specific items covered thereby and will not constitute an agreement not to require payment of any future compensation or reimbursement due to the Adviser hereunder.