Common use of Reduction of Fee Clause in Contracts

Reduction of Fee. If in any fiscal year of the Fund, the aggregate expenses of the Fund (including fees pursuant to this Agreement, but excluding interest, taxes, brokerage fees and, if permitted by the relevant state securities commissions, extraordinary expenses or other expenses) exceed the expense limitation of any state having jurisdiction over the Fund, the Advisor will reduce its fee to the Fund for that excess expense, to the extent required by state law. A fee reduction pursuant to this paragraph 7, if any, will be estimated, reconciled and paid on a monthly basis.

Reduction of Fee. If in any fiscal year of the Fund, the aggregate expenses of the Fund (including fees pursuant to this AgreementAgreement and the Fund's investment advisory agreement, but excluding interest, taxes, brokerage fees and, if permitted by the relevant state securities commissions, and extraordinary expenses or other expenses) exceed the expense limitation limitations of any state having jurisdiction over the Fund, the Advisor Sub-Adviser will reduce its fee by the proportion of such excess expense equal to the proportion that its fee thereunder bears to the aggregate of fees paid by the Fund for investment advice and administration in that excess expenseyear, to the extent required by state law. A fee reduction pursuant to this paragraph 78, if any, will be estimated, reconciled and paid on a monthly basis.

Reduction of Fee. If in any fiscal year of the Fund, the aggregate expenses of the Fund (including fees pursuant to this AgreementAgreement and the Fund's investment advisory agreement, but excluding interest, taxes, brokerage fees and, if permitted by the relevant state securities commissions, and extraordinary expenses or other expenses) exceed the expense limitation limitations of any state having jurisdiction over the Fund, the Advisor Sub- Adviser will reduce its fee by the proportion of such excess expense equal to the proportion that its fee thereunder bears to the aggregate of fees paid by the Fund for investment advice and administration in that excess expenseyear, to the extent required by state law. A fee reduction pursuant to this paragraph 78, if any, will be estimated, reconciled and paid on a monthly basis.