SUB-ITEM 77Q1(e)
MEMORANDUM OF AGREEMENT
This Memorandum of Agreement is entered into as of the date indicated
on Exhibit "A" between AIM Advisor Funds, AIM Equity Funds, AIM Floating Rate
Fund, AIM Funds Group, AIM Growth Series, AIM International Funds, Inc., AIM
Investment Funds, AIM Investment Securities Funds, AIM Select Real Estate
Income Fund, AIM Series Trust, AIM Summit Fund, AIM Tax-Exempt Funds, AIM
Variable Insurance Funds, Short-Term Investments Co., Short-Term Investments
Trust, and Tax-Free Investments Co. (each a "Company" and collectively, the
"Companies"), on behalf of the portfolios listed on Exhibit "A" to this
Memorandum of Agreement (the "Funds"), and A I M Advisors, Inc. ("AIM").
For and in consideration of the mutual terms and agreements set forth
herein and other good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, the Companies and AIM agree as follows:
1. Each Company, for itself and its Funds, and AIM agree that
until the expiration date, if any, of the commitment set
forth on the attached Exhibit "A" occurs, as such Exhibit "A"
is amended from time to time, AIM will not charge any
administrative fee under each Fund's advisory agreement in
connection with securities lending activities.
2. Neither a Company nor AIM may remove or amend the fee waivers
to a Company's detriment prior to requesting and receiving
the approval of the Fund's Board to remove or amend such fee
waiver as described on the attached Exhibit "A". AIM will not
have any right to reimbursement of any amount so waived.
Unless a Company, by vote of its Board of Directors/Trustees, or AIM
terminates the fee waiver, or a Company and AIM are unable to reach an
agreement on the amount of the fee waiver to which the Company and AIM desire
to be bound, the fee waiver will continue indefinitely with respect to such
Company. Exhibit "A" will be amended to reflect the new date through which a
Company and AIM agree to be bound.
Nothing in this Memorandum of Agreement is intended to affect any
other memorandum of agreement executed by any Company or AIM with respect to
any other fee waivers, expense reimbursements and/or expense limitations
IN WITNESS WHEREOF, each Company, on behalf of itself and its Funds
listed in Exhibit "A" to this Memorandum of Agreement, and AIM have entered
into this Memorandum of Agreement as of the date written above.
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AIM ADVISOR FUNDS
AIM EQUITY FUNDS
AIM FLOATING RATE FUND
AIM FUNDS GROUP
AIM GROWTH SERIES
AIM INTERNATIONAL FUNDS, INC.
AIM INVESTMENT FUNDS
AIM INVESTMENT SECURITIES FUNDS
AIM SELECT REAL ESTATE INCOME FUND
AIM SERIES TRUST
AIM SUMMIT FUND
AIM TAX-EXEMPT FUNDS
AIM VARIABLE INSURANCE FUNDS
SHORT-TERM INVESTMENTS CO.
SHORT-TERM INVESTMENTS TRUST
TAX-FREE INVESTMENTS CO.
By: /s/ Xxxxxx X. Xxxxxx
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Title: President
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A I M ADVISORS, INC.
By: /s/ Xxxxxx X. Xxxxxx
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Title: President
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