Applicable Expense Limitation Clause Samples
The Applicable Expense Limitation clause sets a maximum cap on certain expenses that can be charged or reimbursed under an agreement. In practice, this means that only costs up to a specified limit—such as administrative fees, travel expenses, or other operational costs—will be recognized or paid by one party to another. This clause helps prevent excessive or unexpected charges, ensuring predictability and budget control for both parties involved.
Applicable Expense Limitation. To the extent that the aggregate expenses incurred by a Fund in any month including, but not limited to, investment advisory fees of the Investment Adviser (but excluding interest, taxes, brokerage commissions, acquired fund fees and expenses, extraordinary expenses not incurred in the ordinary course of such Fund’s business, and other expenditures that are capitalized in accordance with generally accepted accounting principles, if any) exceed the Operating Expense Limit, as defined in Section 1.2 below, such excess amount shall be the liability of the Investment Adviser.
Applicable Expense Limitation. To the extent that the aggregate expenses incurred by a Share Class of a Fund (excluding: (i) interest, taxes, brokerage commissions, and other expenditures which are capitalized in accordance with generally accepted accounting principles; (ii) expenses incurred indirectly by such Fund as a result of investments in other investment companies and pooled investment vehicles; (iii) other expenses attributable to, and incurred as a result of, such Fund's investments; and (iv) other extraordinary expenses not incurred in the ordinary course of such Fund’s business) in any one year period beginning on May 1 (each, an “Applicable Year”) (“Operating Expenses”) exceed the Operating Expense Limit, as defined in Section 1(b) below, such excess amount (the “Excess Amount”) shall be the liability of the Investment Manager.
Applicable Expense Limitation. To the extent that the aggregate expenses incurred by a Fund in any fiscal year, including but not limited to investment advisory fees of the Investment Adviser (but excluding interest, taxes, brokerage commissions, other expenditures which are capitalized in accordance with generally accepted accounting principles, other extraordinary expenses not incurred in the ordinary course of such Fund’s business, and amounts, if any, payable pursuant to a plan adopted in accordance with Rule 12b-1 under the 1940 Act), exceed the Operating Expense Limit, as defined in Section 1.2 below, such excess amount shall be the liability of the Investment Adviser.