Common use of Voluntary Fee Waiver/Expense Reimbursement Clause in Contracts

Voluntary Fee Waiver/Expense Reimbursement. Nothing herein shall preclude the Adviser from voluntarily waiving Advisory Fees, as applicable, that it is entitled to from any class of any Fund and/or voluntarily reimbursing the expenses of any class of any Fund in a manner that is not required by this Section 1, as the Adviser, as applicable, in its sole and absolute discretion, deems reasonable or appropriate. Any such voluntary waiver or voluntary expense reimbursement shall not be recouped by the Adviser, and may be modified or terminated by the Adviser, as applicable, at any time, in its sole and absolute discretion, without the approval of, but after notice to, the Board.