MAXIMUM EXPENDITURES. The expenditures to be made by a Portfolio pursuant to this Plan, and the basis upon which such expenditures will be made, shall be determined by the Fund on behalf of the Portfolio, and in no event shall such expenditures exceed 25 basis points (0.25%) of the average daily net asset value of the Class L shares of the Portfolio (determined in accordance with the Fund’s prospectus as from time to time in effect) on an annual basis to cover distribution and/or shareholder services expenses. All such expenditures shall be calculated and accrued daily and paid monthly or at such intervals as the Board of Directors of the Fund (the “Board of Directors”) shall determine.
Appears in 3 contracts
Samples: To Agreement (Maxim Series Fund Inc), To Agreement (Maxim Series Fund Inc), Agreement Pursuant to Distribution and Service Plan (Maxim Series Fund Inc)
MAXIMUM EXPENDITURES. The expenditures to be made by a Portfolio pursuant to this Plan, and the basis upon which such expenditures will be made, shall be determined by the Fund on behalf of the Portfolio, and in no event shall such expenditures exceed 25 10 basis points (0.25%) of the average daily net asset value of the Class L G1 shares of the Portfolio (determined in accordance with the Fund’s prospectus as from time to time in effect) on an annual basis to cover distribution and/or shareholder services expenses. All such expenditures shall be calculated and accrued daily and paid monthly or at such intervals as the Board of Directors of the Fund (the “Board of Directors”) shall determine.
Appears in 1 contract
Samples: Agreement Pursuant to Distribution and Service Plan (Maxim Series Fund Inc)
