July 1, 2023 (k)(4)(b)
July 1, 2023 |
(k)(4)(b) |
Voya Credit Income Fund (formerly, Voya Senior Income Fund)
0000 X. Xxxxxxxxxx Xxxxx Xxxx
Suite 100
Scottsdale, AZ 85258-2034
Re: Expense Limitations
Ladies and Gentlemen:
By execution of this letter agreement to the Expense Limitation Agreement ("ELA") between Voya Investments, LLC ("VIL") and Voya Credit Income Fund (formerly, Voya Senior Income Fund, the "Fund"), intending to be legally bound hereby, VIL, the investment manager to the Fund, agrees that, from July 1, 2023 through July 1, 2024, VIL shall waive all or a portion of its investment management fee and/or reimburse expenses in amounts necessary so that after such waivers and/or reimbursements, the maximum total operating expense ratios of the Fund shall be as follows:
Name of Fund |
|
Maximum Operating Expense Limit | ||
|
|
(as a percentage of managed and average net assets) | ||
|
Class A |
Class C |
Class I |
Class W |
|
|
|
|
|
|
0.80% of |
0.80% of |
0.80% of |
0.80% of |
|
Managed Assets1 |
Managed Assets1 |
Managed |
Managed Assets1 |
|
|
Assets1 |
| |
(formerly, Voya Senior Income |
plus |
plus |
plus |
plus |
Fund) |
|
|
|
|
0.45% of average |
0.95% of average |
0.20% of |
0.20% of average | |
|
daily net assets |
daily net assets |
average daily |
daily net assets |
|
|
|
net assets |
|
We are willing to be bound by this letter agreement to lower our fees for the period from July 1, 2023 through July 1, 2024. The method of computation to determine the amount of the fee waiver and the definitions as set forth in the ELA shall apply. VIL acknowledges that (1) it shall not be entitled to collect on or make a claim for waived fees at any time in the future, and
(2)it shall not be entitled to collect on or make a claim for reimbursed expenses at any time in the future. This letter agreement shall terminate upon termination of the ELA.
Notwithstanding the foregoing, termination or modification of this letter agreement requires approval by the Board of Trustees of the Fund.
1Managed Assets are defined as the Fund's average daily gross asset value, minus the sum of the Fund's accrued and unpaid dividends on any outstanding preferred shares and accrued liabilities (other than liabilities for the principal amount of any borrowings incurred, commercial paper or notes issued by the Fund and the liquidation preference of any outstanding preferred shares).
July 1, 2023
Page 2
Very sincerely,
By: /s/ Xxxx Xxxxx
Name: Xxxx Xxxxx
Title: Senior Vice President
Voya Investments, LLC
ACCEPTED AND AGREED TO:
Voya Credit Income Fund (formerly, Voya Senior Income Fund)
By: /s/ Xxxxxxxx X. Xxxxxxxx
Name: Xxxxxxxx X. Xxxxxxxx
Title: Senior Vice President, Xxxx Authorized
