Expense Limit means the percentage of a Fund’s average annual net assets (on an annualized basis) set forth below. The current expense limitation agreement expires on the date specified, unless renewed by mutual agreement of the Fund and the Adviser based upon a determination that this is appropriate under the circumstances at that time. Fund Limit on Other Expenses Expiration Date of Expense Limit Greater China Opportunities Fund 0.30% February 28, 20181 Value Equity Fund 0.04% February 28, 2018 1 At the December 6-8, 2016 meeting of the Board of Trustees of the Trusts, the Adviser notified the Board of, and the Board approved, the extension of the contractual limit on other expenses for Greater China Opportunities Fund to February 28, 2018, effective upon the current expiration date of February 28, 2017. APPENDIX G Fund Level Contractual Investment Management Fee Waivers The Adviser agrees to limit Jxxx Hxxxxxx Money Market Fund’s management fee to a maximum annual rate of 0.40% of the Fund’s average daily net assets. The limitation will continue until at least July 31, 2017.* * At the March 8-10, 2016 meeting of the Board of Trustees of the Trusts, the Adviser notified the Board of, and the Board approved, the extension of the expiration date (to July 31, 2017) of the management fee limitation, effective upon the current expiration date of July 31, 2016. The Adviser agrees to limit Jxxx Hxxxxxx Value Equity Fund’s management fee to a maximum annual rate of 0.66% of the Fund’s average daily net assets. The limitation will continue until at least February 28, 2018.* * At the June 20-23, 2016 meeting of the Board of Trustees of the Trusts, the Adviser notified the Board of, and the Board approved, the lowering of the advisory fee cap (to 0.66%) and the extension of the expiration date (to February 28, 2018) of the management fee limitation, each effective July 1, 2016. The Adviser agrees to limit Jxxx Hxxxxxx Government Income Fund’s management fee to a maximum annual rate of 0.53% of the Fund’s average daily net assets. The limitation will continue until at least September 30, 2018.* * At the December 6-8, 2016 meeting of the Board of Trustees of the Trusts, the Adviser notified the Board of, and the Board approved, the extension of the expiration date (to September 30, 2018) of the management fee limitation, effective upon the current expiration date of September 30, 2017. The Adviser agrees to reduce Jxxx Xxxxxxx Xxxx Fund’s management fee by an annual rate of 0.05% ...
Expense Limit means the percentage of a Fund’s average annual net assets (on an annualized basis) set forth below. The Adviser agrees to waive advisory fees and, to the extent necessary, reimburse other expenses of the Fund, in an amount equal to the amount by which the Expenses of such Fund exceed the Expense Limit for such Fund set forth in the table below. The Expense Limit for each of the Funds indicated below for the purposes of this Appendix shall be as follows: Expiration Date of Fund Annual Expense Limit Expense Limit None APPENDIX C Class Level Contractual Expense Limitations For purposes of this Appendix:
Expense Limit means the percentage of a Fund’s average annual net assets (on an annualized basis) set forth below. The Adviser agrees to waive advisory fees and, to the extent necessary, reimburse other expenses of the Fund, in an amount equal to the amount by which the Expenses of such Fund exceed the Expense Limit for such Fund set forth in the table below. The Expense Limit for each of the Funds indicated below for the purposes of this Appendix shall be as follows: Fund Annual Expense Limit Expiration Date of Expense Limit* Mid Cap Equity Fund 0.95% Voluntary U.S. Global Leaders Growth Fund 0.82% Voluntary * These fee waivers and/or expense reimbursements are voluntary and may be amended or terminated at any time by the Adviser on notice to the Trust. APPENDIX F Class Level Voluntary Limit on Total Operating Expenses For Jxxx Hxxxxxx Money Market Fund, the Adviser and its affiliates may voluntarily waive a portion of their fees (including, but not limited to, distribution and service (Rule 12b‑1) fees) and/or reimburse certain expenses to the extent necessary to assist the Fund in attempting to avoid a negative yield. These fee waivers and/or expense reimbursements are voluntary and may be amended or terminated at any time by the Adviser on notice to the Trust.
Examples of Expense Limit in a sentence
If the annualized Fund Operating Expenses for any month exceed the Operating Expense Limit of such Fund, the Advisor shall first waive or reduce its investment advisory fee for such month by an amount sufficient to reduce the annualized Fund Operating Expenses to an amount no higher than the Operating Expense Limit.
Effective as of the Effective Date, Section 1(b) of the Agreement is hereby deleted in its entirety and replaced with the following: Operating Expense Limit.
If necessary, on or before the last day of the first month of each fiscal year, an adjustment payment shall be made by the appropriate party in order that the actual Fund Operating Expenses of a Fund for the prior fiscal year (including any reimbursement payments hereunder with respect to such fiscal year) do not exceed the Maximum Annual Operating Expense Limit.
The Maximum Annual Operating Expense Limit with respect to each Fund shall be the amount specified in Schedule A based on a percentage of the average daily net assets of each Fund.
The Maximum Annual Operating Expense Limit for the Fund contemplates that certain expenses for the Fund may be paid through the use of all or a portion of brokerage commissions (or markups or markdowns) generated by the Fund.
More Definitions of Expense Limit
Expense Limit means the percentage of a Fund’s average annual net assets (on an annualized basis) set forth below. The Adviser voluntarily agrees to waive advisory fees or, if necessary, reimburse other expenses of the Fund, in an amount equal to the amount by which the Expenses of such Fund exceed the Expense Limit for such Fund set forth in the table below. The Expense Limit for each of the Funds indicated below for the purposes of this Appendix shall be as follows: Fund Annual Expense Limit Expiration Date of Expense Limit* None * These fee waivers and/or expense reimbursements are voluntary and may be amended or terminated at any time by the Adviser on notice to the Trust.
Expense Limit means the percentage of average daily net assets (on an annualized basis) attributable to a class of shares of the Fund set forth below. The Adviser voluntarily agrees to waive advisory fees or, if necessary, reimburse expenses or make payment to a specific class of shares of the Fund (up to the amount of the expenses relating solely to such class of shares), in an amount equal to the amount by which the Expenses of such class of shares exceed the Expense Limit for such class set forth in the table below. The Expense Limit for the classes of shares of the Fund indicated below for the purposes of this Appendix shall be as follows: Classes Fund X X X X X0 X0 X0 X0 X0 X0 X/X *These fee waivers and/or expense reimbursements are voluntary and may be amended or terminated at any time by the Adviser on notice to the Trust.
Expense Limit means the percentage of average annual net assets (on an annualized basis) attributable to a class of shares of the Funds set forth below. The Adviser contractually agrees to waive advisory fees or, if necessary, reimburse expenses or make payment to a specific class of shares of the Fund (up to the amount of the expenses relating solely to such class of shares), in an amount equal to the amount by which the Expenses of such class of shares exceed the Expense Limit for such class set forth in the table below. The current expense limitation agreements expire on the dates specified, unless renewed by mutual agreement of the Fund and the Adviser based upon a determination that this is appropriate under the circumstances at that time. The Expense Limit for the classes of shares of the Funds indicated below for the purposes of this Appendix shall be as follows: Class Class Class Class Class Class Class Class Class Class Expiration Date of Expense Limit Fund A B C I R1 R2 R3 R4 R5 R6 Emerging Markets Equity Fund 1.50% N/A 2.20% 1.25% N/A 1.60% N/A 1.35% N/A N/A 2/28/2017 Enduring Assets Fund N/A N/A 2.60% N/X X/X X/X X/X X/X X/X X/X 2/28/2017 Fundamental Large Cap Core Fund N/A 1.82% 1.82% 0.78% N/X X/X X/X X/X X/X X/X 2/28/2017 Global Real Estate Fund 1.30% N/A 2.05% 1.05% N/X X/X X/X X/X X/X X/X 4/30/2017 Greater China Oxxxxxxxxxxxx Xxxx X/X X/X X/X 1.34% N/X X/X X/X X/X X/X X/X 2/28/2017 Value Equity Fund 1.45% N/A 2.15% 1.15% N/X X/X X/X X/X X/X X/X 2/28/2017 Class Class Class Class Class Class Class Class Class Class Expiration Date of Expense Limit Fund A B C I R1 R2 R3 R4 R5 R6 Focused High Yield Fund N/A N/A N/A 0.72% N/X X/X X/X X/X X/X X/X 9/30/20171 Global Conservative Absolute Return Fund 1.14% N/A 1.89% 0.89% N/X X/X X/X X/X X/X X/X 9/30/20172 Government Income Fund 0.98% N/X X/X X/X X/X X/X X/X X/X N/A N/A 9/30/20173 1 At the June 20-23, 2016 meeting of the Board of Trustees of the Trusts, the Adviser notified the Board of, and the Board approved, the extension of the class level contractual total operating expense limitation for Class I shares of Focused High Yield Fund to September 30, 2017, effective upon the current expiration date of September 30, 2016. 2 At the June 20-23, 2016 meeting of the Board of Trustees of the Trusts, the Adviser notified the Board of, and the Board approved, the extension of the class level contractual total operating expense limitations for Class A, Class C and Class I shares of Global Conservative Absolute Return Fu...
Expense Limit means the percentage of a Fund’s average annual net assets (on an annualized basis) set forth below. The current expense limitation agreement expires on the date specified, unless renewed by mutual agreement of the Fund and the Adviser based upon a determination that this is appropriate under the circumstances at that time. Fund Limit on Fund Level Expenses Expiration Date of Expense Limit Jxxx Hxxxxxx Multifactor Large Cap ETF 0.35% 8/31/2017 Jxxx Hxxxxxx Multifactor Mid Cap ETF 0.45% 8/31/2017 Jxxx Hxxxxxx Multifactor Consumer Discretionary ETF 0.50% 8/31/2017 Jxxx Hxxxxxx Multifactor Consumer Staples ETF 0.50% 8/31/2017 Jxxx Hxxxxxx Multifactor Energy ETF 0.50% 8/31/2017 Jxxx Hxxxxxx Multifactor Financials ETF 0.50% 8/31/2017 Jxxx Hxxxxxx Multifactor Healthcare ETF 0.50% 8/31/2017 Jxxx Hxxxxxx Multifactor Industrials ETF 0.50% 8/31/2017 Jxxx Hxxxxxx Multifactor Materials ETF 0.50% 8/31/2017 Jxxx Hxxxxxx Multifactor Technology ETF 0.50% 8/31/2017 Jxxx Hxxxxxx Multifactor Utilities ETF 0.50% 8/31/2017 APPENDIX D Class Level Contractual Total Operating Expense Limitations For purposes of this Appendix:
Expense Limit means the percentage of a Fund’s average annual net assets (on an annualized basis) set forth below. The Adviser contractually agrees to waive advisory fees or, if necessary, reimburse other expenses of the Fund, in an amount equal to the amount by which the Expenses of such Fund exceed the Expense Limit for such Fund set forth in the table below. The current expense limitation agreements expire on the dates specified, unless renewed by mutual agreement of the Fund and the Adviser based upon a determination that this is appropriate under the circumstances at that time. The Expense Limit for each of the Funds indicated below for the purposes of this Appendix shall be as follows: Fund Annual Expense Limit Expiration Date of Expense Limit None APPENDIX C Class Level Contractual Total Operating Expense Limitations For purposes of this Appendix:
Expense Limit means the percentage of a Fund’s average annual net assets (on an annualized basis) set forth below. The Adviser agrees to waive advisory fees and, to the extent necessary, reimburse other expenses of the Fund, in an amount equal to the amount by which the Expenses of such Fund exceed the Expense Limit for such Fund set forth in the table below. The Expense Limit for each of the Funds indicated below for the purposes of this Appendix shall be as follows:
Expense Limit means the percentage of a Fund’s average annual net assets (on an annualized basis) set forth below. The Adviser agrees to waive advisory fees and, to the extent necessary, reimburse other expenses of the Fund, in an amount equal to the amount by which the Expenses of such Fund exceed the Expense Limit for such Fund set forth in the table below. The Expense Limit for each of the Funds indicated below for the purposes of this Appendix shall be as follows: Expiration Date of Fund Annual Expense Limit Expense Limit* None * These fee waivers and/or expense reimbursements are voluntary and may be amended or terminated at any time by the Adviser on notice to the Trust. APPENDIX F Class Level Voluntary Limit on Total Operating Expenses For Xxxx Xxxxxxx Money Market Fund, the Adviser and its affiliates may voluntarily waive a portion of their fees (including, but not limited to, distribution and service (Rule 12b-1) fees) and/or reimburse certain expenses to the extent necessary to assist the Fund in attempting to avoid a negative yield. These fee waivers and/or expense reimbursements are voluntary and may be amended or terminated at any time by the Adviser on notice to the Trust.