No Separate Charges to Shareholders. IAI hereby covenants and agrees that it will make no separate charge to any Fund shareholder or his individual account for any services rendered to said shareholder, the Fund or the Company unless such charge for special services is specifically approved by the Board including a majority of the directors who are not "interested persons" (as such term is defined in the Investment Company Act of 1940, as amended, which act, as amended and together with all rules and regulations promulgated thereunder, is hereinafter referred to as the "1940 Act") of IAI. No special charge will be levied retroactively or without appropriate notice to affected shareholders.
Appears in 12 contracts
Samples: Management Agreement (Iai Investment Fund I Inc), Investment Advisory and Administrative Services Agreement (Iai Investment Funds Vi Inc), Management Agreement (Iai Investment Funds Vi Inc)
