Common use of LIMITATION OF EXPENSES Clause in Contracts

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. 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. 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 Fund in effect as of the close of each business day during said fiscal year, EquiTrust Adviser shall pay to the Portfolio 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 EquiTrust Adviser be required to reimburse the Portfolio Fund in an amount exceeding its compensation for such period from such Portfolio under this Agreement.

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 Adviser 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 Adviser be required to reimburse the Portfolio in an amount exceeding its compensation for such period from such Portfolio under this Agreement.