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 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 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 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 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 '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 agrees RCB shall 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 agrees RCB shall not to request or seek reimbursement of subsidized Operating Expenses that are no longer eligible for reimbursement.