LIMITATION OF EXPENSES. Certain expenses that are not normally incurred in providing resi- dent care shall be eliminated or limited according to the following rules.
a. Federal and state income taxes are considered in computing the fee for services for proprietary institutions.
b. Fees paid directors and nonworking officer’s salaries are not allowed as reimbursable costs.
c. Bad debts are not an allowable expense.
d. Charity allowances and courtesy allowances are not an allowable expense.
e. Personal travel and entertainment are not allowable as reimbursable costs. Certain expenses such as rental or depreciation of a vehicle and expenses of travel which include both business and per- xxxxx costs shall be prorated. Amounts which appear to be excessive may be limited after consider- ation of the specific circumstances. Records shall be maintained to substantiate the indicated charges.
(1) Commuter travel by the owner(s), owner-administrator(s), administrator, nursing director or any other employee is not an allowable cost (from private residence to facility and return to residence).
(2) The expense of one car or one van or both designated for use in transporting patients shall be an allowable cost. All expenses shall be documented by a sales slip, invoice or other document setting forth the designated vehicle as well as the charges incurred for the expenses to be allowable.
(3) Each facility which supplies transportation services as defined in Iowa Code section 324A.1, subsection 1, shall provide current documentation of compliance with or exemption from public transit coordination requirements as found in Iowa Code chapter 324A and 761—Chapter 910 of the depart- ment of transportation rules at the time of annual contract renewal. Failure to cooperate in obtaining or in providing the required documentation of compliance or exemption after receipt from the Iowa de- partment of transportation, public transit division, shall result in disallowance of vehicle costs and oth- er costs associated with transporting residents.
(4) Expenses related to association business meetings, limited to individual members of the asso- ciation who are members of a national affiliate, and expenses associated with workshops, symposiums, and meetings which provide administrators or department heads with hourly credits required to com- ply with continuing education requirements for licensing, are allowable expenses.
(5) Travel of an emergency nature required for supplies, repairs of machinery or equipment, ...
LIMITATION OF EXPENSES. In the event that expenses of any Portfolio chargeable to its income account (including amounts payable hereunder but exclusive of brokerage fees, distribution services fee, interest, taxes and extraordinary expenses for any fiscal year ending on a date at which this Agreement is in effect) shall exceed 1.50% of the average daily net assets of the Portfolio for said fiscal year, calculated on the basis of the average of all of the daily valuations of the net assets of the Portfolio in effect as of the close of each business day during said fiscal year, EquiTrust shall pay to the Portfolio the amount by which such expenses exceed the applicable limitation, within three days after the determination of the amount thereof. In no event shall EquiTrust be required to reimburse the Portfolio in an amount exceeding its compensation for such period from such Portfolio under this Agreement.
LIMITATION OF EXPENSES. During the term of this Agreement, the total expenses of Contrarian, exclusive of extraordinary costs or expenses such as legal, accounting, or other costs or expenses not incurred in the course of the Fund's ongoing operation, but including fees paid to the Adviser pursuant to paragraph 6 below, shall not in any fiscal year exceed the annual rate of 1.75% of the average daily net asset value of Contrarian, and the Adviser agrees to pay any excess expenses or to reimburse Contrarian for any sums expended for such expenses in excess of that amount. Such payment, if any, will be paid on a monthly basis. Brokers' commissions and other charges relating to the purchase and sale of securities shall not be regarded as expenses for this purpose.
LIMITATION OF EXPENSES. In the event the operating expenses of the Company or any Fund (including amounts payable to the Adviser pursuant to Section 7 hereof), for any fiscal year ending on a date on which this Agreement is in effect, exceed the expense limitations imposed by state securities laws or regulations thereunder, the Adviser shall reduce the management fee payable by such Fund to the extent of such excess, and, if required pursuant to any such laws or regulations, also reimburse such Fund or the Company for annual operating expenses which are paid or payable and which exceed any expense limitation that may be applicable. Excluded from such annual operating expenses shall be the amount of any interest, taxes, brokerage commissions, distribution fees, extraordinary expenses (including, but not limited to, legal claims and liabilities and litigation costs and any indemnification related thereto) and any other expenses which may be excluded under the applicable state securities law. Such reduction, if any, shall be computed and accrued daily, shall be settled on a quarterly basis, and shall be based upon the expense limitations applicable as of the end of the last business day of the quarter. Should two or more expense limitations be applicable as of the end of the last business day of the quarter, the expense limitation which results in the largest reduction in the Adviser's fee shall be considered operative for purposes of this Section.
LIMITATION OF EXPENSES. The Parties shall not be responsible for any expenses not specified in this Agreement.
LIMITATION OF EXPENSES. 8.4.1 All expenses should be clearly identified and appropriated to the scheme.
8.4.2 The Asset Management Company may charge annual management fee @ 2.50 percent per annum of the weekly average NAV up to Tk. 5.00 crore and @ 2.00 per cent per annum for additional amount of the weekly average NAV up to 25.00 crore over Tk. 5.00 crore and @ 1.50 percent per annum for additional amount of the weekly average NAV up to Tk 50.00 crore over 25.00 crore and @ 1.00 per cent per annum for additional amount of the weekly average NAV over Tk. 50.00 crore for the scheme for investment management and advisory services fees.
8.4.3 In addition to the fees mentioned here-in-above, the Asset Management Company may charge the Mutual Fund with the following expenses, namely:
a. Amortization of initial issue costs of sponsoring the Fund over a period not exceeding ten years, provided that initial issue expenses shall not exceed five per cent of the Fund raised under the scheme.
b. Recurring expenses including:
i) Marketing and selling expenses including agents’ commission, if any.
ii) Brokerage and transaction costs.
iii) Cost of registrar services for transfer of securities sold or redeemed.
iv) Trusteeship fees
v) Custodian Fees
vi) Others expenses related to the Fund
LIMITATION OF EXPENSES. During the term of this Agreement, the total expenses of the Portfolio, exclusive of extraordinary costs or expenses such as legal, accounting, or other costs or expenses not incurred in the course of the Fund's ongoing operation, but including fees paid to the Adviser pursuant to paragraph 6 below, shall not in any fiscal year exceed the annual rate of 1.75% of the average daily net asset value of the Portfolio, and the Adviser agrees to pay any excess expenses or to reimburse the Portfolio for any sums expended for such expenses in excess of that amount. Such payment, if any, will be paid on a monthly basis. Brokers' commissions and other charges relating to the purchase and sale of securities shall not be regarded as expenses for this purpose.
LIMITATION OF EXPENSES. 8.4.1 All expenses should be clearly identified and appropriated to the scheme.
8.4.2 The Fund will pay a management fee to the Asset Management Company @
LIMITATION OF EXPENSES. In the event that expenses of the Fund chargeable to its income account (including amounts payable hereunder but exclusive of brokerage fees, interest, taxes and extraordinary expenses) for any fiscal year ending on a date at which this agreement is in effect shall exceed the most restrictive limitation on total expenses imposed by any State where the Fund's shares are registered for sale, PFS will reduce its management fee or increase its reimbursement accordingly. PFS shall pay to the Fund the amount by which such expenses exceed the applicable limitation, within three days after the determination of the amount thereof. In no event shall PFS be required to reimburse the Fund in an amount exceeding its compensation for such period under this Agreement.
LIMITATION OF EXPENSES. The Company shall use its best efforts to minimize its expenses and liabilities in connection with the implementation of the Plan of Liquidation and the conduct of its activities and affairs, and in no event shall the aggregate amount of such expenses and all liabilities voluntarily incurred by the Company (other than as permitted by Section 5.8 of this Agreement) on or after the closing date of this Agreement exceed $100,000 plus any reasonable additional amounts as may be mutually agreed upon by the Company and the Noteholders.
