Common use of Payments to Recipients Clause in Contracts

Payments to Recipients. The Distributor is authorized under the Plan to pay to a Recipient (1) a distribution assistance fee for rendering distribution assistance in connection with the sale of Shares and/or (2) a service fee (“Recipient Service Fee”) for rendering administrative support services with respect to Accounts. However, no such payments shall be made to any Recipient for any period in which its Qualified Holdings do not equal or exceed, at the end of such period, the minimum amount (“Minimum Qualified Holdings”), if any, that may be set from time to time by a majority of the Independent Trustees. All fee payments made by the Distributor hereunder are subject to reduction or chargeback so that the aggregate Service Fee payments and Advance Recipient Service Fee Payments (as defined below) do not exceed the limits on payments to Recipients that are, or may be, imposed by the FINRA Rules. The Distributor may make Recipient Service Fee payments to any “affiliated person” (as defined in the 0000 Xxx) of the Distributor if such affiliated person qualifies as a Recipient or retain such payments if the Distributor qualifies as a Recipient.

Payments to Recipients. The Distributor is authorized under the Plan to pay to a Recipient (1) a distribution assistance fee for rendering distribution assistance in connection with the sale of Shares and/or (2) a service fee (“Recipient Service Fee”) for rendering administrative support services with respect to Accounts. However, no such payments shall be made to any Recipient for any period in which its Qualified Holdings do not equal or exceed, at the end of such period, the minimum amount (“Minimum Qualified Holdings”), if any, that may be set from time to time by a majority of the Independent Trustees. All fee payments made by the Distributor hereunder are subject to reduction or chargeback so that the aggregate Service Fee payments and Advance Recipient Service Fee Payments (as defined below) do not exceed the limits on payments to Recipients that are, or may be, imposed by the FINRA Rules. The Distributor may make Recipient Service Fee payments to any “affiliated person” (as defined in the 0000 1000 Xxx) of the Distributor if such affiliated person qualifies as a Recipient or retain such payments if the Distributor qualifies as a Recipient.