Boston, MA 02116 Re: Expense Limitation Letter Agreement
Exhibit 99.(h).3
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Xxxx Xxxxxxx Advisers, LLC Xxxxxx, XX 00000 |
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June [26], 2019
To the Trustees of
Xxxx Xxxxxxx Funds
000 Xxxxxxxx Xxxxxx
Boston, MA 02116
Re: Expense Limitation Letter Agreement
With reference to the Advisory Agreement approved by the Board or entered into by and between Xxxx Xxxxxxx Advisers, LLC (the “Adviser”) and Xxxx Xxxxxxx Strategic Series (the “Trust”), on behalf of each of its respective series listed in Appendix A (each, a “Fund” and collectively, the “Funds”), we hereby notify you as follows:
1. The Adviser agrees to contractually waive or, to the extent necessary, reimburse its advisory fees and other expenses of each Fund (“Expenses”). “Expenses ” means all the expenses of a Fund but excluding: (i) taxes; (ii) brokerage commissions; (iii) interest expense; (iv) litigation and indemnification expenses and other extraordinary expenses not incurred in the ordinary course of the Fund’s business; (v) borrowing costs; and (vi) acquired fund fees and expenses paid indirectly. This Agreement expires on September 30, 2022, unless renewed by mutual agreement of the Fund and the Advisor based upon a determination that this is appropriate under the circumstances at that time.
2. We understand and intend that the Trust will rely on this undertaking in overseeing the preparation and filing of Post-effective Amendments to the Registration Statement on Form N-1A for the Funds with the Securities and Exchange Commission, in accruing each Fund’s expenses for purposes of calculating its net and gross asset value per share, and for other purposes permitted under Form N-1A and/or the Investment Company Act of 1940, as amended, and we expressly permit the Trust so to rely.
3. A copy of the document establishing each Trust is filed with the Secretary of The Commonwealth of Massachusetts. This Agreement is executed by the officer in his or her capacity as such and not as an individual and is not binding upon any of the Trustees, officers or shareholders of the Trusts individually but only upon the assets of the Funds.
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Very truly yours,
XXXX XXXXXXX ADVISERS, LLC | ||||
| By: | ||||
| Xxxxxxx X. Xxxx | ||||
| Chief Financial Officer | ||||
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Agreed and Accepted on behalf of each applicable Fund listed in Appendix A | ||||
| By: | ||||
| Xxxxxxx X. Xxxxx Chief Financial Officer |
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APPENDIX A
XXXX XXXXXXX STRATEGIC SERIES
Xxxx Xxxxxxx Managed Account Shares Investment-Grade Corporate Bond Portfolio
Xxxx Xxxxxxx Managed Account Shares Securitized Debt Portfolio
Xxxx Xxxxxxx Managed Account Shares Non-Investment-Grade Corporate Bond Portfolio
