Partners Fund Sample Clauses
The Partners Fund clause establishes a dedicated pool of capital contributed by the partners of a business or investment entity. This fund is typically used to finance specific projects, cover operational expenses, or make investments as agreed upon by the partners. Contributions, management, and disbursement of the fund are usually governed by predefined rules set out in the partnership agreement. The core function of this clause is to ensure a transparent and organized approach to pooling and utilizing partner resources, thereby reducing disputes and clarifying financial responsibilities among the partners.
Partners Fund. The Adviser agrees to limit the Total Annual Fund Operating Expenses (as defined in Item 3 of Form N-1A) of the Partners Fund (excluding shareholder servicing fees, brokerage expenses, interest expenses, taxes, acquired fund fees and expenses and extraordinary expenses) to an annual rate of 0.85% of the Fund’s average daily net assets for each of the Founders Class and Institutional Class shares, respectively, through January 31, 2017. The Adviser will reduce the fee payable with respect to the Partners Fund to the extent of such excess and/or shall reimburse the Fund (or class as applicable) by the amount of such excess. If applicable, the waiver or reimbursement shall be allocated to each class of the Partners Fund in the same manner as the underlying expenses or fees were allocated.