Common use of Net Investment Income and Fee Income Clause in Contracts

Net Investment Income and Fee Income. Net Investment Income and Fee Income shall be credited to the Fund’s relevant account, on a monthly basis, only after making the following payments on behalf of the Fund: (i) rebate fees shall be paid to Borrowers in accordance with the applicable Securities Loan Agreements; and (ii) a portion of any remaining Net Investment Income and Fee Income after payment of the amounts set forth in clause (i) shall be paid to State Street (as compensation for its services under this Agreement) in the proportion set forth on Schedule A under the heading “Fee Split.” In the event that for a given monthly period, the sum of Net Investment Income and Fee Income is less than the amount of the rebate fees payable to Borrowers pursuant to the applicable Securities Loan Agreements, State Street and the relevant Fund shall be responsible for the shortfall in the proportions set forth on Schedule A under the heading “Fee Split.” The relevant Fund shall be solely responsible for any and all other amounts due to Borrowers under the applicable Securities Loan Agreements. For the avoidance of doubt, any taxes required to be withheld at source from Fee Income shall be deducted from the amount credited to the Fund’s relevant account as described in this Paragraph (c) (i.e., from the amount credited after payment of the amounts identified in clauses (i) and (ii) above), and to the extent that such amount is less than the amount of such taxes, then the Fund shall be responsible for any shortfall. Any amounts owed or liabilities or deficiencies incurred by a Fund hereunder may be satisfied solely from the assets of such Fund.

Net Investment Income and Fee Income. Net Investment Income and Fee Income shall be credited to the Fund’s relevant securities lending account, on a monthly basis, only after making the following payments on behalf of the Fund: (i) rebate fees shall be paid to Borrowers in accordance with the applicable Securities Loan Agreements; and (ii) a portion of any remaining Net Investment Income and Fee Income after payment of the amounts set forth in clause (i) shall be paid to State Street (as compensation for its services under this Agreement) in the proportion set forth on Schedule A under the heading “Fee Split.” In the event that for a given monthly period, the sum of Net Investment Income and Fee Income is less than the amount of the rebate fees payable to Borrowers pursuant to the applicable Securities Loan Agreements, State Street and the relevant Fund shall be responsible for the shortfall in the proportions set forth on Schedule A under the heading “Fee Split.” The relevant Fund shall be solely responsible for any and all other amounts due to Borrowers under the applicable Securities Loan Agreements. For the avoidance of doubt, any taxes required to be withheld at source from Fee Income shall be deducted from the amount credited to the Fund’s relevant securities lending account as described in this Paragraph (c) (i.e., from the amount credited after payment of the amounts identified in clauses (i) and (ii) above), and to the extent that such amount is less than the amount of such taxes, then the Fund shall be responsible for any shortfall. Any amounts owed or liabilities or deficiencies incurred by a Fund hereunder may be satisfied solely from the assets of such Fund.Information Classification: Limited Access