Common use of Total Return Incentive Fee Clause in Contracts

Total Return Incentive Fee. Although the net asset value has increased for the calendar year, the year end net asset value is less than the High Water Mark. Therefore, there is no increase in the net asset value for the calculation of the Total Return to Non-founder Shareholders of a particular share class. The Total Return to Non-founder Shareholders for such share class for the fee calculation does not exceed the 7.00% preferred return rate. Therefore, there is no incentive fee payable for such share class.

Total Return Incentive Fee. Although the net asset value has increased for the calendar year, the year end net asset value is less than the High Water MarkMxxx. Therefore, there is no increase in the net asset value for the calculation of the Total Return to Non-founder Shareholders of a particular share classFounder Shareholders. The Total Return to Non-founder Founder Shareholders for such share class for the fee calculation does not exceed the 7.00% preferred return rate. Therefore, there is no incentive fee payable for such share classFounder Shareholders.

Total Return Incentive Fee. Although the net asset value has increased for the calendar year, the year end net asset value is less than the High Water Mark. Therefore, there is no increase in the net asset value for the calculation of the Total Return to Non-founder Shareholders of a particular share classFounder Shareholders. The Total Return to Non-founder Founder Shareholders for such share class for the fee calculation does not exceed the 7.00% preferred return rate. Therefore, there is no incentive fee payable for such share classFounder Shareholders.

Total Return Incentive Fee. Although the net asset value has increased for the calendar year, the year end net asset value is less than the High Water MarkMxxx. Therefore, there is no increase in the net asset value for the calculation of the Total Return to Non-founder Shareholders of a particular share class. The Total Return to Non-founder Shareholders for such share class for the fee calculation does not exceed the 7.00% preferred return rate. Therefore, there is no incentive fee payable for such share class.