AGREEMENT TO WAIVE FEES AND REIMBURSE EXPENSES DAVIS NEW YORK VENTURE FUND, INC. DAVIS NEW YORK VENTURE FUND
Exhibit (h)(9)
AGREEMENT
TO WAIVE FEES AND REIMBURSE EXPENSES
XXXXX NEW YORK VENTURE FUND, INC.
XXXXX NEW YORK VENTURE FUND
THIS AGREEMENT is made this 11TH day of September, 2020, between Xxxxx New York Venture Fund, Inc., a Maryland corporation (“DNYVF”) and Xxxxx Selected Advisers, L.P., a limited partnership organized under the laws of Colorado (“DSA”).
RECITALS:
WHEREAS, DNYVF is a registered open-end management investment company with four authorized series (Xxxxx New York Venture Fund, Xxxxx Global Fund, Xxxxx International Fund, and Xxxxx Research Fund); and
WHEREAS, DNYVF and DSA have entered into an agreement dated September 11, 2019, whereby DSA agreed to waive fees and reimburse expenses for Xxxxx New York Venture Fund; and
WHEREAS, DSA serves as the investment adviser for DNYVF; and
WHEREAS, both DNYVF and DSA agree it is important that the actual expenses of each share class for Xxxxx New York Venture Fund not exceed a specified percentage, Class A, 1.00%, Class B, 1.75%, and Class C, 1.75%, Class R, 1.25%, and Class Y, 0.75% of net assets on an annual basis;
NOW, THEREFORE, the parties hereby agree as follows:
1. | Terminate Former Agreements. The former agreement for Xxxxx New York Venture Fund dated September 11, 2019, shall be terminated and replaced by this Agreement effective August 1, 2020. |
2. | Expense Cap. DSA agrees to waive fees and reimburse the expenses of each share class of Xxxxx New York Venture Fund, to the extent it is necessary to ensure that the actual expense incurred by each authorized Class of shares, after recognizing the benefits of custody or other credits, fee waivers, and expense reimbursements, not exceed: Class A shares: 1.00%, Class B shares: 1.75%, Class C shares: 1.75%, Class R shares, 1.25%, and Class Y shares 0.75% of net assets. |
3. | Duration of Agreement. This Agreement shall be effective as of August 1, 2020, and ending on December 1, 2021. This Agreement shall automatically renew for additional one-year periods if not terminated, in writing, by either party before December 1st of each year. |
IN WITNESS WHEREOF, the parties have duly executed and sealed this Agreement, all as of the date first written above.
Xxxxx New York Venture Fund, Inc. | Xxxxx Selected Advisers, L.P. | |||
By Xxxxx Investments, LLC (General Partner) | ||||
By: | By: | |||
Xxxx Xxxxxx | Xxxx Xxxxxxx | |||
Vice President | Vice President |