Common use of Recoupment Balance Clause in Contracts

Recoupment Balance. Any fee reduced by RCB, or Operating Expenses paid by it (collectively, “subsidies”), pursuant to this Agreement may be reimbursed by the Fund to 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 RCB has agreed (subsidies available for reimbursement to RCB under this paragraph are collectively referred to as the “Recoupment Balance”) and if the Board of Trustees approves the reimbursement. RCB generally shall seek reimbursement on a rolling three-year basis whereby the oldest subsidies are recouped first. RCB may not request or receive reimbursement of the Recoupment Balance in any year before payment of the Fund’s operating expenses for such year and may not cause the Fund to exceed an Expense Cap or any other agreed upon expense limitation for that year in making such reimbursement. 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 RCBSKBA, or Operating Expenses paid by it (collectively, “subsidies”), pursuant to this Agreement may be reimbursed by the Fund to RCB SKBA 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 RCB SKBA has agreed (subsidies available for reimbursement to RCB SKBA under this paragraph are collectively referred to as the “Recoupment Balance”) and if the Board of Trustees approves the reimbursement. RCB SKBA generally shall seek reimbursement on a rolling three-year basis whereby the oldest subsidies are recouped first. RCB SKBA may not request or receive reimbursement of the Recoupment Balance in any year before payment of the Fund’s operating expenses for such year and may not cause the Fund to exceed an Expense Cap or any other agreed upon expense limitation for that year in making such reimbursement. RCB SKBA shall not to request or seek reimbursement of subsidized Operating Expenses that are no longer eligible for reimbursement.

Recoupment Balance. Any fee reduced by RCBSKBA, or Operating Expenses paid by it (collectively, “"subsidies”"), pursuant to this Agreement may be reimbursed by the Fund to RCB SKBA 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 RCB SKBA has agreed (subsidies available for reimbursement to RCB SKBA under this paragraph are collectively referred to as the “"Recoupment Balance”") and if the Board of Trustees approves the reimbursement. RCB SKBA generally shall seek reimbursement on a rolling three-year basis whereby the oldest subsidies are recouped first. RCB SKBA may not request or receive reimbursement of the Recoupment Balance in any year before payment of the Fund’s 's operating expenses for such year and may not cause the Fund to exceed an Expense Cap or any other agreed upon expense limitation for that year in making such reimbursement. RCB SKBA shall not to request or seek reimbursement of subsidized Operating Expenses that are no longer eligible for reimbursement.

Recoupment Balance. Any fee reduced by RCBSKBA, or Operating Expenses paid by it (collectively, “subsidies”), pursuant to this Agreement may be reimbursed by the Fund to RCB SKBA 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 RCB SKBA has agreed (subsidies available for reimbursement to RCB SKBA under this paragraph are collectively referred to as the “Recoupment Balance”) and if the Board of Trustees approves the reimbursement. RCB SKBA generally shall seek reimbursement on a rolling three-year basis whereby the oldest subsidies are recouped first. RCB SKBA may not request or receive reimbursement of the Recoupment Balance in any year before payment of the Fund’s operating expenses for such year and may not cause the Fund to exceed an Expense Cap or any other agreed upon expense limitation for that year in making such reimbursement. RCB shall SKBA agrees not to request or seek reimbursement of subsidized Operating Expenses that are no longer eligible for reimbursement.

Recoupment Balance. Any fee reduced by RCB, or Operating Expenses paid by it (collectively, “"subsidies”"), pursuant to this Agreement may be reimbursed by the Fund to 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 RCB has agreed (subsidies available for reimbursement to RCB under this paragraph are collectively referred to as the “"Recoupment Balance”") and if the Board of Trustees approves the reimbursement. RCB generally shall seek reimbursement on a rolling three-year basis whereby the oldest subsidies are recouped first. RCB may not request or receive reimbursement of the Recoupment Balance in any year before payment of the Fund’s 's operating expenses for such year and may not cause the Fund to exceed an Expense Cap or any other agreed upon expense limitation for that year in making such reimbursement. RCB shall not to request or seek reimbursement of subsidized Operating Expenses that are no longer eligible for reimbursement.