Common use of Effective Date, Duration and Termination Clause in Contracts

Effective Date, Duration and Termination. This Expense Limitation Agreement shall be effective as of the effectiveness of the Fund’s registration statement on Form N-1A relating to the continuous offering of the Shares and shall continue in effect for successive twelve-month periods provided that such continuance is specifically approved at least annually by a majority of the board of trustees (the “Board”) of the Fund and by the Advisor. Furthermore, this Expense Limitation Agreement may not be terminated by the Advisor, but may be terminated by the Board, on written notice to the Advisor. This Expense Limitation Agreement will automatically terminate if the Investment Management Agreement for the Fund is terminated with such termination effective upon the effective date of the Investment Management Agreement’s termination for the Fund. The Advisor’s right to repayment pursuant to section 2 hereof shall survive the termination of this Agreement for any reason.

Effective Date, Duration and Termination. This Expense Limitation Agreement shall be effective as of the effectiveness of the Fund’s registration statement on Form N-1A N-2 relating to the continuous offering of the Shares and shall continue in effect for successive twelve-month periods provided that such continuance is specifically approved at least annually by a majority of the board of trustees (the “Board”) of the Fund and by the Advisor. Furthermore, this Expense Limitation Agreement may not be terminated by the Advisor, but may be terminated by the Board, on written notice to the Advisor. This Expense Limitation Agreement will automatically terminate if the Investment Management Advisory Agreement for the Fund is terminated with such termination effective upon the effective date of the Investment Management Advisory Agreement’s termination for the Fund. The Advisor’s right to repayment pursuant to section Section 2 hereof shall survive the termination of this Agreement for any reason.

Effective Date, Duration and Termination. This Expense Limitation Agreement shall be effective as of the original date of effectiveness of the Fund’s registration statement on Form N-1A N-2 relating to the continuous offering of the Shares and shall continue in effect for successive twelve-month periods provided that such continuance is specifically approved at least annually by a majority of the board of trustees (the “Board”) of the Fund and by the Advisor. Furthermore, this Expense Limitation Agreement may not be terminated by the Advisor, but may be terminated by the Board, on written notice to the Advisor. This Expense Limitation Agreement will automatically terminate if the Investment Management Advisory Agreement for the Fund is terminated with such termination effective upon the effective date of the Investment Management Advisory Agreement’s termination for the Fund. The Advisor’s right to repayment pursuant to section 2 hereof shall survive the termination of this Agreement for any reason.

Effective Date, Duration and Termination. This Expense Limitation Agreement shall be effective as of the effectiveness of the Fund’s registration statement on Form N-1A N-2 relating to the continuous offering of the Shares and shall continue in effect for successive twelve-month periods provided that such continuance is specifically approved at least annually by a majority of the board of trustees (the “Board”) of the Fund and by the Advisor. Furthermore, this Expense Limitation Agreement may not be terminated by the Advisor, but may be terminated by the Board, on written notice to the Advisor. This Expense Limitation Agreement will automatically terminate if the Investment Management Advisory Agreement for the Fund is terminated with such termination effective upon the effective date of the Investment Management Advisory Agreement’s termination for the Fund. The Advisor’s right to repayment pursuant to section 2 hereof shall survive the termination of this Agreement for any reason.

Effective Date, Duration and Termination. This Expense Limitation Agreement shall be effective as of the effectiveness date of the Fund’s registration statement on Form N-1A relating to the continuous offering closing of the Shares reorganization and shall continue in effect for successive twelve-month periods provided that such continuance is specifically approved at least annually by a majority of the board of trustees (the “Board”) of the Fund and by the Advisor. Furthermore, this Expense Limitation Agreement may not be terminated by the Advisor, but may be terminated by the Board, on written notice to the Advisor. This Expense Limitation Agreement will automatically terminate if the Investment Management Advisory Agreement for the Fund is terminated with such termination effective upon the effective date of the Investment Management Advisory Agreement’s termination for the Fund. The Advisor’s right to repayment pursuant to section 2 hereof shall survive the termination of this Agreement for any reason.