Common use of Specified Expenses Clause in Contracts

Specified Expenses. The Expense Limitation applies only to the annual Ordinary Operating Expenses of the Trust, which include organizational and offering expenses, but do not include: (i) interest, taxes, dividends tied to short sales, brokerage commissions, and other expenditures which are capitalized in accordance with generally accepted accounting principles; (ii) expenses incurred indirectly by the Trust as a result of investments in other investment companies and pooled investment vehicles; (iii) other expenses attributable to, and incurred as a result of, the Trust’s investments; (iv) expenses payable by the Trust under the Sub-Administration Agreement with State Street Bank & Trust Company; and (v) other extraordinary expenses (including litigation expenses) not incurred in the ordinary course of the Trust’s business.

Appears in 6 contracts

Samples: Expense Limitation and Reimbursement Agreement (Nexpoint Latin American Opportunities Fund), Expense Limitation and Reimbursement Agreement (Nexpoint Real Estate Strategies Fund), Expense Limitation and Reimbursement Agreement (Nexpoint Energy Opportunities Fund)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!