Common use of Recoupment Balance Clause in Contracts

Recoupment Balance. Any fee reduced by the Adviser, or Operating Expenses paid by it (collectively, “subsidies”), pursuant to this Agreement may be reimbursed by a Fund to the Adviser no later than the end of the third fiscal year following the year to which the subsidy relates if the aggregate expenses for that period do not exceed an Expense Cap in effect at the time the subsidies were incurred or any more restrictive limitation to which the Adviser has agreed (subsidies available for reimbursement to the Adviser under this paragraph are collectively referred to as the “Recoupment Balance”) and the Board of Trustees approves the reimbursement. The Adviser generally shall seek reimbursement on a rolling three-year basis whereby the oldest subsidies are recouped first. The Adviser may not request or receive reimbursement of the Recoupment Balance before payment of the Fund’s operating expenses for the current year and cannot cause the Fund to exceed an Expense Cap or any other agreed upon expense limitation for that year in making such reimbursement. The Adviser agrees not to request or seek reimbursement of subsidized Operating Expenses that are no longer eligible for reimbursement.

Recoupment Balance. Any fee reduced by the Adviser, Adviser or Operating Expenses paid by it (collectively, “subsidies”), with respect to the Fund pursuant to this Agreement may be reimbursed by a the Fund to the Adviser no later than the end of the third full fiscal year following the year to which the subsidy relates if the aggregate expenses Operating Expenses of the Fund for that period do not exceed an the relevant Expense Cap in effect at the time the subsidies were incurred or any more restrictive limitation to which the Adviser has agreed (subsidies available for reimbursement to the Adviser under this paragraph with respect to the Fund are collectively referred to as the “Recoupment Balance”) and the Board of Trustees of the Trust approves the reimbursement. The Adviser generally shall seek reimbursement with respect to the Fund on a rolling three-year basis whereby the oldest subsidies are recouped first. The Adviser may shall not request or receive reimbursement of the Recoupment Balance with respect to the Fund before payment of the Fund’s operating expenses Operating Expenses of the Fund for the current year and canshall not cause the Operating Expenses of the Fund to exceed an the Expense Cap or any other more restrictive expense limitation agreed upon expense limitation for that year in making such reimbursement. The Adviser agrees not to request or seek reimbursement of subsidized Operating Expenses that are no longer eligible for reimbursement.

Recoupment Balance. Any fee reduced by the AdviserAdvisor, or Operating Expenses paid by it (collectively, “"subsidies”"), pursuant to this Agreement may be reimbursed by a Fund to the Adviser Advisor no later than the end of the third fiscal year following the year to which the subsidy relates if the aggregate expenses for that period do not exceed an Expense Cap in effect at the time the subsidies were incurred or any more restrictive limitation to which the Adviser Advisor has agreed (subsidies available for reimbursement to the Adviser Advisor under this paragraph are collectively referred to as the “"Recoupment Balance”") and the Board of Trustees approves the reimbursement. For example, subsidized Operating Expenses relating to the period September 1, 2002 through August 31, 2003 would no longer be eligible for reimbursement after September 1, 2006. The Adviser Advisor generally shall seek seeks reimbursement on a rolling three-year basis whereby the oldest subsidies are recouped first. The Adviser Advisor may not request or receive reimbursement of the Recoupment Balance before payment of the Fund’s 's operating expenses for the current year and cannot cause the Fund to exceed an the Expense Cap or any other agreed upon expense limitation for that year in making such reimbursement. The Adviser Advisor agrees not to request or seek reimbursement of subsidized Operating Expenses that are no longer eligible for reimbursement.

Recoupment Balance. Any fee reduced by the Adviser, or Operating Expenses paid by it (collectively, “"subsidies”"), pursuant to this Agreement may be reimbursed by a Fund to the Adviser no later than the end of the third fiscal year following the year to which the subsidy relates if the aggregate expenses for that period do not exceed an Expense Cap in effect at the time the subsidies were incurred or any more restrictive limitation to which the Adviser has agreed (subsidies available for reimbursement to the Adviser under this paragraph are collectively referred to as the “"Recoupment Balance”") and the Board of Trustees approves the reimbursement. The Adviser generally shall seek reimbursement on a rolling three-year basis whereby the oldest subsidies are recouped first. The Adviser may not request or receive reimbursement of the Recoupment Balance before payment of the Fund’s 's operating expenses for the current year and cannot cause the Fund to exceed an Expense Cap or any other agreed upon expense limitation for that year in making such reimbursement. The Adviser agrees not to request or seek reimbursement of subsidized Operating Expenses that are no longer eligible for reimbursement.

Recoupment Balance. Any fee reduced by the Adviser, or Operating Expenses paid by it (collectively, “subsidies”), pursuant to this Agreement may be reimbursed by a the Fund to the Adviser no later than the end of the third fiscal year following the year to which the subsidy relates if the aggregate expenses for that period do not exceed an Expense Cap in effect at the time the subsidies were incurred or any more restrictive limitation to which the Adviser has agreed (subsidies available for reimbursement to the Adviser under this paragraph are collectively referred to as the “Recoupment Balance”) and the Board of Trustees approves the reimbursement. The Adviser generally shall seek reimbursement on a rolling three-year basis whereby the oldest subsidies are recouped first. The Adviser may not request or receive reimbursement of the Recoupment Balance before payment of the Fund’s operating expenses Operating Expenses for the current year and cannot cause the Fund to exceed an Expense Cap or any other agreed upon expense limitation for that year in making such reimbursement. The Adviser agrees not to request or seek reimbursement of subsidized Operating Expenses that are no longer eligible for reimbursement.

Recoupment Balance. Any fee reduced by the AdviserRCB, or Operating Expenses paid by it (collectively, “subsidies”), pursuant to this Agreement may be reimbursed by a the Fund to the Adviser RCB no later than the end of the third fiscal year following the year to which the subsidy relates if the aggregate expenses for that period do not exceed an Expense Cap in effect at the time the subsidies were incurred or any more restrictive limitation to which the Adviser RCB has agreed (subsidies available for reimbursement to the Adviser RCB under this paragraph are collectively referred to as the “Recoupment Balance”) and if the Board of Trustees approves the reimbursement. The Adviser RCB generally shall seek reimbursement on a rolling three-year basis whereby the oldest subsidies are recouped first. The Adviser RCB may not request or receive reimbursement of the Recoupment Balance in any year before payment of the Fund’s operating expenses for the current such year and canmay not cause the Fund to exceed an Expense Cap or any other agreed upon expense limitation for that year in making such reimbursement. The Adviser RCB agrees not to request or seek reimbursement of subsidized Operating Expenses that are no longer eligible for reimbursement.

Recoupment Balance. Any fee reduced by the AdviserCSC, or Operating Expenses paid by it (collectively, “subsidies”), pursuant to this Agreement may be reimbursed by a the Fund to the Adviser CSC no later than the end of the third fiscal year following the year to which the subsidy relates if the aggregate expenses for that period do not exceed an Expense Cap in effect at the time the subsidies were incurred or any more restrictive limitation to which the Adviser CSC has agreed (subsidies available for reimbursement to the Adviser CSC under this paragraph are collectively referred to as the “Recoupment Balance”) and if the Board of Trustees approves the reimbursement. The Adviser CSC generally shall seek reimbursement on a rolling three-year basis whereby the oldest subsidies are recouped first. The Adviser CSC may not request or receive reimbursement of the Recoupment Balance in any year before payment of the Fund’s operating expenses for the current such year and canmay not cause the Fund to exceed an Expense Cap or any other agreed upon expense limitation for that year in making such reimbursement. The Adviser CSC agrees not to request or seek reimbursement of subsidized Operating Expenses that are no longer eligible for reimbursement.

Recoupment Balance. Any fee reduced by the AdviserAdvisor, or Operating Expenses paid by it (collectively, “subsidies”), pursuant to this Agreement may be reimbursed by a Fund to the Adviser Advisor no later than the end of the third fiscal year following the year to which the subsidy relates if the aggregate expenses for that period do not exceed an Expense Cap in effect at the time the subsidies were incurred or any more restrictive limitation to which the Adviser Advisor has agreed (subsidies available for reimbursement to the Adviser Advisor under this paragraph are collectively referred to as the “Recoupment Balance”) and the Board of Trustees approves the reimbursement. For example, subsidized Operating Expenses relating to the period September 1, 2002 through August 31, 2003 would no longer be eligible for reimbursement after September 1, 2006. The Adviser Advisor generally shall seek seeks reimbursement on a rolling three-year basis whereby the oldest subsidies are recouped first. The Adviser Advisor may not request or receive reimbursement of the Recoupment Balance before payment of the Fund’s operating expenses for the current year and cannot cause the Fund to exceed an the Expense Cap or any other agreed upon expense limitation for that year in making such reimbursement. The Adviser Advisor agrees not to request or seek reimbursement of subsidized Operating Expenses that are no longer eligible for reimbursement.