Common use of Compensation for Services Clause in Contracts

Compensation for Services. In payment for the investment advisory and management services to be rendered by Adviser hereunder, each Fund shall pay to Adviser a monthly fee, which fee shall be paid to Adviser not later than the fifth business day of the month following the month in which said services were rendered. The monthly fee payable by each Fund shall be as set forth in Exhibit A hereto, which may be updated from time to time to reflect amendments, if any, to Exhibit A. The monthly fee payable by each Fund shall be based on the average of the net asset values of all of the issued and outstanding shares of the Fund as determined as of the close of each business day of the month pursuant to the Articles of Incorporation, Bylaws, and currently effective Prospectus and Statement of Additional Information of the Company and the Fund. For purposes of calculating each Fund's average daily net assets, as such term is used in this Agreement, each Fund's net assets shall equal its total assets minus (a) its total liabilities and (b) its net orders receivable from dealers.

Compensation for Services. In payment for the investment advisory and management services to be rendered by Adviser VAM LLC hereunder, each Fund shall pay to Adviser VAM LLC a monthly fee, which fee shall be paid to Adviser VAM LLC not later than the fifth business day of the month following the month in which said services were rendered. The monthly fee payable by each Fund shall be as set forth in Exhibit A hereto, which may be updated from time to time to reflect amendments, if any, to Exhibit A. The monthly fee payable by each Fund shall be based on the average of the net asset values of all of the issued and outstanding shares of the Fund as determined as of the close of each business day of the month pursuant to the Articles of Incorporation, Bylaws, and currently effective Prospectus and Statement of Additional Information of the Company and the Fund. For purposes of calculating each Fund's average daily net assets, as such term is used in this Agreement, each Fund's net assets shall equal its total assets minus (a) its total liabilities and (b) its net orders receivable from dealers.

Compensation for Services. In payment for the investment advisory and management services to be rendered by Adviser Voyageur hereunder, each Fund shall pay to Adviser Voyageur a monthly fee, which fee shall be paid to Adviser Voyageur not later than the fifth business day of the month following the month in which said services were rendered. The monthly fee payable by each Fund shall be as set forth in Exhibit EXHIBIT A hereto, which may be updated from time to time to reflect amendments, if any, to Exhibit EXHIBIT A. The monthly fee payable by each Fund shall be based on the average of the net asset values of all of the issued and outstanding shares of the Fund as determined as of the close of each business day of the month pursuant to the Articles of Incorporation, Bylaws, and currently effective Prospectus and Statement of Additional Information of the Company and the Fund. For purposes of calculating each Fund's average daily net assets, as such term is used in this Agreement, each Fund's net assets shall equal its total assets minus (a) its total liabilities and (b) its net orders receivable from dealers.

Compensation for Services. In payment for the investment advisory and management services to be rendered by Adviser Voyageur hereunder, each Fund shall pay to Adviser Voyageur a monthly fee, which fee shall be paid to Adviser Voyageur not later than the fifth business day of the month following the month in which said services were rendered. The monthly fee payable by each Fund shall be as set forth in Exhibit A hereto, which may be updated from time to time to reflect amendments, if any, to Exhibit A. The monthly fee payable by each Fund shall be based on the average of the net asset values of all of the issued and outstanding shares of the Fund as determined as of the close of each business day of the month pursuant to the Articles of Incorporation, Bylaws, and currently effective Prospectus and Statement of Additional Information of the Company and the Fund. For purposes of calculating each Fund's average daily net assets, as such term is used in this Agreement, each Fund's net assets shall equal its total assets minus (a) its total liabilities and (b) its net orders receivable from dealers.