Expense Limitation Agreement

Exhibit 99.(d)(xii)

Expense Limitation Agreement

This Expense Limitation Agreement (the “Agreement”) is made and entered into this 28^th day of September, 2021 between Lord, Xxxxxx & Co. LLC (“Lord Xxxxxx”), Lord Xxxxxx Distributor LLC (“Lord Xxxxxx Distributor”), and Lord Xxxxxx Municipal Bond Fund, Inc. (the “The Company”) with respect to Lord Xxxxxx Sustainable Municipal Bond Fund (the “Fund”).

In consideration of good and valuable consideration, receipt of which is hereby acknowledged, it is agreed as follows:

	1.	Lord Xxxxxx agrees for the time period set forth in paragraph 3 below to waive all or a portion of its management and administrative services fees and reimburse the Fund’s other expenses to the extent necessary to limit total net annual operating expenses, excluding 12b-1 fees and acquired fund fees and expenses, interest-related expenses, taxes, expenses related to litigation and potential litigation, and extraordinary expenses, to an annual rate of 0.43% for each class other than Class F3. For the same time period, Lord Xxxxxx agrees to waive all or a portion of its management and administrative services fees and reimburse the Fund’s other expenses to the extent necessary to limit total net annual operating expenses, excluding 12b-1 fees and acquired fund fees and expenses, interest-related expenses, taxes, expenses related to litigation and potential litigation, and extraordinary expenses, to an annual rate of 0.39% for Class F3.
	2.	To limit the Fund’s total net annual operating expenses as specified above, Lord Xxxxxx will waive the same amount of management and administrative services fees for each share class, but may reimburse different amounts of shareholder servicing expenses for each share class in its sole discretion.
	3.	This Agreement will become effective from the Fund’s commencement of operations through January 31, 2023. This Agreement may be terminated only by the Board of Directors of the Company upon written notice to Lord Xxxxxx.

[Signatures follow on next page]

IN WITNESS WHEREOF, Lord Xxxxxx, Lord Xxxxxx Distributor, and the Company have caused this Agreement to be executed by a duly authorized member and officer, respectively, as of the day and year first above written.

	LORD XXXXXX MUNICIPAL INCOME FUND, INC.
	By:	/s/ Xxxx X. Xxxxxxxxxx
		Xxxx X. Xxxxxxxxxx
		Vice President and Assistant Secretary
	LORD, XXXXXX & CO. LLC
	By:	/s/ Xxxxxxxx X. Xxxxxxx
		Xxxxxxxx X. Xxxxxxx
		Member and General Counsel
	LORD XXXXXX DISTRIBUTOR LLC
	By:	LORD, XXXXXX & CO. LLC
	By:	/s/ Xxxxxxxx X. Xxxxxxx
		Xxxxxxxx X. Xxxxxxx
		Member and General Counsel

-2-