MEMORANDUM OF AGREEMENT (Affiliated Money Market Fund Waiver)
Exhibit 99.h(6)
MEMORANDUM OF AGREEMENT
(Affiliated Money
Market Fund Waiver)
This Memorandum of Agreement is entered into as of the dates indicated on Exhibit “A” between AIM Counselor Series Trust, AIM Equity Funds, AIM Funds Group, AIM Growth Series, AIM International Mutual Funds, AIM Investment Funds, AIM Investment Securities Funds, AIM Sector Funds, AIM Stock Funds, AIM Summit Fund, AIM Tax-Exempt Funds, AIM Variable Insurance Fundsand Short-Term Investments Trust (each a “Fund” and collectively, the “Funds”), on behalf of the portfolios listed on Exhibit “A” to this Memorandum of Agreement (the “Portfolios”), 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 Funds and AIM agree as follows:
1. Each Fund, for itself and its Portfolios, 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 waive advisory fees payable by an Investing Fund in an amount equal to 100% of the net advisory fee AIM receives on the Uninvested Cash (defined below) from the Affiliated Money Market Fund (defined below) in which the Investing Fund invests (the “Waiver”).
i. AIM’s Fund Accounting Group will calculate, and apply, the Waiver monthly, based upon the average investment of Uninvested Cash made by the Investing Fund during the previous month in an Affiliated Money Market Fund.
ii. The Waiver will not apply to those investing Funds that do not charge an advisory fee, either due to the terms of their advisory agreement, or as a result of contractual or voluntary fee waivers.
iii. The Waiver will not apply to cash collateral for securities lending.
For purposes of the paragraph above, the following terms shall have the following meanings:
(a) “Affiliated Money Market Fund” - any existing or future Fund that holds itself out as a money market fund and complies with Rule 2a-7 under the Investment Company Act of 1940, as amended; and
(b) “Uninvested Cash” - cash available and uninvested by a Fund that may result from a variety of sources, including dividends or interest received on portfolio securities, unsettled securities transactions, strategic reserves, matured investments, proceeds from liquidation of investment securities, dividend payments, or new investor capital.
2. Neither a Fund nor AIM may remove or amend the Waiver to a Fund’s detriment prior to requesting and receiving the approval of the Portfolio’s Board of Trustee to remove or amend such Waiver. AIM will not have any right to reimbursement of any amount so waived.
Subject to the foregoing paragraphs, each of the Funds and AIM agree to review the then-current waivers for each class of the Funds listed on the Exhibit on a date prior to the Expiration Date to determine whether such waivers should be amended, continued or terminated. The waivers will expire upon the Expiration Date unless the Funds and AIM have agreed to continue them. The Exhibit will be amended to reflect any such agreement.
Nothing in this Memorandum of Agreement is intended to affect any other memorandum of agreement executed by any Fund or AIM with respect to any other fee waivers, expense reimbursements and/or expense limitations.
IN WITNESS WHEREOF, each Fund, on behalf of itself and its Portfolios listed in Exhibit “A” to this Memorandum of Agreement, and AIM have entered into this Memorandum of Agreement as of the dates indicated on Exhibit “A”.
|
AIM COUNSELOR SERIES TRUST |
|||
|
|
AIM EQUITY FUNDS |
||
|
|
AIM FUNDS GROUP |
||
|
|
AIM GROWTH SERIES |
||
|
|
AIM INTERNATIONAL MUTUAL FUNDS |
||
|
|
AIM INVESTMENT FUNDS |
||
|
|
AIM INVESTMENT SECURITIES FUNDS |
||
|
|
|||
|
|
AIM STOCK FUNDS |
||
|
|
AIM SUMMIT FUND |
||
|
|
AIM TAX-EXEMPT FUNDS |
||
|
|
AIM VARIABLE INSURANCE FUNDS |
||
|
|
|
||
|
|
|
||
|
|
By: |
/s/ Xxxx X. Xxxx |
|
|
|
|
||
|
|
Name: |
Xxxx X. Xxxx |
|
|
|
Title |
Senior Vice President |
|
|
|
|
||
|
|
|
||
|
|
SHORT-TERM INVESTMENTS TRUST |
||
|
|
|
||
|
|
|
||
|
|
By: |
/s/ Xxxxx Xxxx Xxxxxx |
|
|
|
|
||
|
|
Name: |
Xxxxx Xxxx Xxxxxx |
|
|
|
Title |
President |
|
|
|
|
||
|
|
|
||
|
|
A I M ADVISORS, INC. |
||
|
|
|
||
|
|
By: |
/s/ Xxxx X. Xxxx |
|
|
|
|
||
|
|
Name: |
Xxxx X. Xxxx |
|
|
|
Title |
Senior Vice President |
|
2
EXHIBIT “A”
AIM COUNSELOR SERIES TRUST
|
PORTFOLIO |
|
EFFECTIVE DATE |
|
COMMITTED UNTIL |
|
|
|
|
|
|
|
AIM Floating Rate Fund |
|
July 1, 2007 |
|
June 30, 2008 |
|
AIM Multi-Sector Fund |
|
July 1, 2007 |
|
June 30, 2008 |
|
AIM Select Real Estate Income Fund |
|
July 1, 2007 |
|
June 30, 2008 |
|
AIM Structured Core Fund |
|
July 1, 2007 |
|
June 30, 2008 |
|
AIM Structured Growth Fund |
|
July 1, 2007 |
|
June 30, 2008 |
|
AIM Structured Value Fund |
|
July 1, 2007 |
|
June 30, 2008 |
AIM EQUITY FUNDS
|
PORTFOLIO |
|
EFFECTIVE DATE |
|
COMMITTED UNTIL |
|
|
|
|
|
|
|
AIM Capital Development Fund |
|
July 1, 2007 |
|
June 30, 2008 |
|
AIM Charter Fund |
|
July 1, 2007 |
|
June 30, 2008 |
|
AIM Constellation Fund |
|
July 1, 2007 |
|
June 30, 2008 |
|
AIM Diversified Dividend Fund |
|
July 1, 2007 |
|
June 30, 2008 |
|
AIM Large Cap Basic Value Fund |
|
July 1, 2007 |
|
June 30, 2008 |
|
AIM Large Cap Growth Fund |
|
July 1, 2007 |
|
June 30, 2008 |
AIM FUNDS GROUP
|
FUND |
|
EFFECTIVE DATE |
|
COMMITTED UNTIL |
|
|
|
|
|
|
|
AIM Basic Balanced Fund |
|
July 1, 2007 |
|
June 30, 2008 |
|
AIM European Small Company Fund |
|
July 1, 2007 |
|
June 30, 2008 |
|
AIM Global Value Fund |
|
July 1, 2007 |
|
June 30, 2008 |
|
AIM International Small Company Fund |
|
July 1, 2007 |
|
June 30, 2008 |
|
AIM Mid Cap Basic Value Fund |
|
July 1, 2007 |
|
June 30, 2008 |
|
AIM Select Equity Fund |
|
July 1, 2007 |
|
June 30, 2008 |
|
AIM Small Cap Equity Fund |
|
July 1, 2007 |
|
June 30, 2008 |
AIM GROWTH SERIES
|
FUND |
|
EFFECTIVE DATE |
|
COMMITTED UNTIL |
|
|
|
|
|
|
|
AIM Basic Value Fund |
|
July 1, 2007 |
|
June 30, 2008 |
|
AIM Global Equity Fund |
|
July 1, 2007 |
|
June 30, 2008 |
|
AIM Mid Cap Core Equity Fund |
|
July 1, 2007 |
|
June 30, 2008 |
|
AIM Small Cap Growth Fund |
|
July 1, 2007 |
|
June 30, 2008 |
A-1
AIM INTERNATIONAL MUTUAL FUNDS
|
FUND |
|
EFFECTIVE DATE |
|
COMMITTED UNTIL |
|
|
|
|
|
|
|
AIM Asia Pacific Growth Fund |
|
July 1, 2007 |
|
June 30, 2008 |
|
AIM European Growth Fund |
|
July 1, 2007 |
|
June 30, 2008 |
|
AIM Global Aggressive Growth Fund |
|
July 1, 2007 |
|
June 30, 2008 |
|
AIM Global Growth Fund |
|
July 1, 2007 |
|
June 30, 2008 |
|
AIM International Core Equity Fund |
|
July 1, 2007 |
|
June 30, 2008 |
|
AIM International Growth Fund |
|
July 1, 2007 |
|
June 30, 2008 |
AIM INVESTMENT FUNDS
|
FUND |
|
EFFECTIVE DATE |
|
COMMITTED UNTIL |
|
|
|
|
|
|
|
AIM China Fund |
|
July 1, 2007 |
|
June 30, 2008 |
|
AIM Developing Markets Fund |
|
July 1, 2007 |
|
June 30, 2008 |
|
AIM Global Health Care Fund |
|
July 1, 2007 |
|
June 30, 2008 |
|
AIM International Total Return Fund |
|
July 1, 2007 |
|
June 30, 2008 |
|
AIM LIBOR Alpha Fund |
|
July 1, 2007 |
|
Xxxx 00, 0000 |
|
XXX Xxxxx Fund |
|
July 1, 2007 |
|
June 30, 2008 |
|
AIM Trimark Endeavor Fund |
|
July 1, 2007 |
|
June 30, 2008 |
|
AIM Trimark Fund |
|
July 1, 2007 |
|
June 30, 2008 |
|
AIM Trimark Small Companies Fund |
|
July 1, 2007 |
|
June 30, 2008 |
AIM INVESTMENT SECURITIES FUND
|
FUND |
|
EFFECTIVE DATE |
|
COMMITTED UNTIL |
|
|
|
|
|
|
|
AIM Global Real Estate Fund |
|
July 1, 2007 |
|
June 30, 2008 |
|
AIM High Yield Fund |
|
July 1, 2007 |
|
June 30, 2008 |
|
AIM Income Fund |
|
July 1, 2007 |
|
June 30, 2008 |
|
AIM Intermediate Government Fund |
|
July 1, 2007 |
|
June 30, 2008 |
|
AIM Limited Maturity Treasury Fund |
|
July 1, 2007 |
|
June 30, 2008 |
|
AIM Money Market Fund |
|
July 1, 2007 |
|
June 30, 2008 |
|
AIM Municipal Bond Fund |
|
July 1, 2007 |
|
June 30, 2008 |
|
AIM Real Estate Fund |
|
July 1, 2007 |
|
June 30, 2008 |
|
AIM Short Term Bond Fund |
|
July 1, 2007 |
|
June 30, 2008 |
|
AIM Total Return Bond Fund |
|
July 1, 2007 |
|
June 30, 2008 |
|
FUND |
|
EFFECTIVE DATE |
|
COMMITTED UNTIL |
|
|
|
|
|
|
|
AIM Energy Fund |
|
July 1, 2007 |
|
June 30, 2008 |
|
AIM Financial Services Fund |
|
July 1, 2007 |
|
June 30, 2008 |
|
AIM Gold & Precious Metals Fund |
|
July 1, 2007 |
|
June 30, 2008 |
|
AIM Leisure Fund |
|
July 1, 2007 |
|
June 30, 2008 |
|
AIM Technology Fund |
|
July 1, 2007 |
|
June 30, 2008 |
|
AIM Utilities Fund |
|
July 1, 2007 |
|
June 30, 2008 |
A-2
AIM STOCK FUNDS
|
FUND |
|
EFFECTIVE DATE |
|
COMMITTED UNTIL |
|
|
|
|
|
|
|
AIM Dynamics Fund |
|
July 1, 2007 |
|
June 30, 2008 |
|
AIM S&P 500 Index Fund |
|
July 1, 2007 |
|
June 30, 2008 |
AIM SUMMIT FUND
|
FUND |
|
EFFECTIVE DATE |
|
COMMITTED UNTIL |
|
|
|
|
|
|
|
AIM Summit Fund |
|
July 1, 2007 |
|
June 30, 2008 |
AIM TAX-EXEMPT FUNDS
|
FUND |
|
EFFECTIVE DATE |
|
COMMITTED UNTIL |
|
|
|
|
|
|
|
AIM High Income Municipal Fund |
|
July 1, 2007 |
|
June 30, 2008 |
|
AIM Tax-Exempt Cash Fund |
|
July 1, 2007 |
|
June 30, 2008 |
|
AIM Tax-Free Intermediate Fund |
|
July 1, 2007 |
|
June 30, 2008 |
AIM VARIABLE INSURANCE FUNDS
|
FUND |
|
EFFECTIVE DATE |
|
COMMITTED UNTIL |
|
|
|
|
|
|
|
AIM V.I. Basic Balanced Fund |
|
July 1, 2007 |
|
April 30, 2009 |
|
AIM V.I. Basic Value Fund |
|
July 1, 2007 |
|
April 30, 2009 |
|
AIM V.I. Capital Appreciation Fund |
|
July 1, 2007 |
|
April 30, 2009 |
|
AIM V.I. Capital Development Fund |
|
July 1, 2007 |
|
April 30, 2009 |
|
AIM V.I. Core Equity Fund |
|
July 1, 2007 |
|
April 30, 2009 |
|
AIM V.I. Diversified Income Fund |
|
July 1, 2007 |
|
April 30, 2009 |
|
AIM V.I. Dynamics Fund |
|
July 1, 2007 |
|
April 30, 2009 |
|
AIM V.I. Financial Services Fund |
|
July 1, 2007 |
|
April 30, 2009 |
|
AIM V.I. Global Health Care Fund |
|
July 1, 2007 |
|
April 30, 2009 |
|
AIM V.I. Global Real Estate Fund |
|
July 1, 2007 |
|
April 30, 2009 |
|
AIM V.I. Government Securities Fund |
|
July 1, 2007 |
|
April 30, 2009 |
|
AIM V.I. High Yield Fund |
|
July 1, 2007 |
|
April 30, 2009 |
|
AIM V.I. International Growth Fund |
|
July 1, 2007 |
|
April 30, 2009 |
|
AIM V.I. Large Cap Growth Fund |
|
July 1, 2007 |
|
April 30, 2009 |
|
AIM V.I. Leisure Fund |
|
July 1, 2007 |
|
April 30, 2009 |
|
AIM V.I. Mid Cap Core Equity Fund |
|
July 1, 2007 |
|
April 30, 2009 |
|
AIM V.I. Money Market Fund |
|
July 1, 2007 |
|
April 30, 2009 |
|
AIM V.I. Small Cap Equity Fund |
|
July 1, 2007 |
|
April 30, 2009 |
|
AIM V.I. Technology Fund |
|
July 1, 2007 |
|
April 30, 2009 |
|
AIM V.I. Utilities Fund |
|
July 1, 2007 |
|
April 30, 2009 |
A-3
SHORT-TERM INVESTMENTS TRUST
|
FUND |
|
EFFECTIVE DATE |
|
COMMITTED UNTIL |
|
|
|
|
|
|
|
Government TaxAdvantage Portfolio |
|
July 1, 2007 |
|
June 30, 2008 |
|
STIC Prime Portfolio |
|
July 1, 2007 |
|
June 30, 2008 |
|
Treasury Portfolio |
|
July 1, 2007 |
|
June 30, 2008 |
A-4
