Common use of Expense Limitation Fee Reduction Clause in Contracts

Expense Limitation Fee Reduction. The fees payable to the Advisor under this Agreement will be reduced to the extent required under the most stringent expense limitation applicable to the Fund imposed by any state in which shares of the Fund are qualified for sale. The Advisor may reduce any portion of the compensation or reimbursement of expenses due to it pursuant to this Agreement and may agree to make payments to limit the expenses that are the responsibility of a Fund under this Agreement. Except as the Advisor may otherwise agree with respect to the Fund, any such reduction or payment shall be applicable only to such specific reduction or payment and shall not constitute an agreement to reduce any future compensation or reimbursement due to the Advisor hereunder or to continue future payments. Any such reduction will be agreed to prior to accrual of the related expense or fee and will be estimated daily and reconciled and paid on a monthly basis. Any fee withheld pursuant to this paragraph 8(d) from the Advisor may be reimbursed by the Fund to the Advisor anytime in the three fiscal years next succeeding the fiscal year of the withholding, if the following conditions are met: i. the reimbursement does not cause the Fund to exceed any applicable expense limit; ii. the effect of the reimbursement is measured after all ordinary operating expenses are calculated; and iii. the Board of Trustees approves the reimbursement as being not inconsistent with the best interests of shareholders.

Expense Limitation Fee Reduction. The fees payable to the Advisor under this Agreement will be reduced to the extent required under the most stringent expense limitation applicable to the Fund imposed by any state in which shares of the Fund are qualified for sale. The Advisor may reduce any portion of the compensation or reimbursement of expenses due to it pursuant to this Agreement and may agree to make payments to limit the expenses that are the responsibility of a Fund under this Agreement. Except as the Advisor may otherwise agree with respect to the Fund, any such reduction or payment shall be applicable only to such specific reduction or payment and shall not constitute an agreement to reduce any future compensation or reimbursement due to the Advisor hereunder or to continue future payments. Any such reduction will be agreed to prior to accrual of the related expense or fee and will be estimated daily and reconciled and paid on a monthly basis. Any fee withheld pursuant to this paragraph 8(d) from the Advisor may be reimbursed by the Fund to the Advisor anytime in the three fiscal years next succeeding the fiscal year of the withholding, withholding if the following conditions are met: i. the reimbursement does not cause the Fund to exceed any applicable expense limit; ii. the effect of the reimbursement is measured after all ordinary operating expenses are calculated; and iii. the Board of Trustees approves the reimbursement as being not inconsistent with the best interests of shareholders.

Expense Limitation Fee Reduction. The fees payable to the Advisor under this Agreement will be reduced to the extent required under the most stringent expense limitation applicable to the a Fund imposed by any state in which shares of the Fund are qualified for sale. The Advisor may reduce any portion of the compensation or reimbursement of expenses due to it pursuant to this Agreement and may agree to make payments to limit the expenses that are the responsibility of a Fund under this Agreement. Except as the Advisor may otherwise agree with respect to the a Fund, any such reduction or payment shall be applicable only to such specific reduction or payment and shall not constitute an agreement to reduce any future compensation or reimbursement due to the Advisor hereunder or to continue future payments. Any such reduction will be agreed to prior to accrual of the related expense or fee and will be estimated daily and reconciled and paid on a monthly basis. Any fee withheld pursuant to this paragraph 8(d) from the Advisor may be reimbursed by the Fund to the Advisor anytime in within three years from the three fiscal years next succeeding the fiscal year of the withholding, time that it was withheld if the following conditions are met: i. the reimbursement does not cause the Fund to exceed any applicable expense limit; ii. the effect of the reimbursement is measured after all ordinary operating expenses are calculated; and iii. the Board of Trustees approves the reimbursement as being not inconsistent with the best interests of shareholders.