Expenses of Each Series Clause Samples
The "EXPENSES OF EACH SERIES" clause defines how costs and expenses are allocated to individual series within a larger fund or entity. Typically, this clause specifies that each series is responsible for its own direct expenses, such as management fees, legal costs, or operational charges, and may outline how shared or indirect expenses are apportioned among the series. By clearly delineating financial responsibility, this clause ensures that the assets and liabilities of each series remain separate, thereby protecting investors in one series from the financial obligations of another and maintaining the integrity of the series structure.
Expenses of Each Series. 2.1 Expenses to Be Paid by the Administrator. If the Administrator pays or assumes any expenses of the Fund or a Series not required to be paid or assumed by the Administrator under this Agreement, the Administrator shall not be obligated hereby to pay or assume the same or any similar expense in the future; provided, that nothing herein contained shall be deemed to relieve the Administrator of any obligation to the Fund or to a Series under any separate agreement or arrangement between the parties.
Expenses of Each Series. 2.1 EXPENSES TO BE PAID BY THE ADMINISTRATOR. The Administrator shall pay all salaries, expenses and fees of the officers, trustees, or employees of the Trust who are officers, directors or employees of the Administrator. If the Administrator pays or assumes any expenses of the Trust, Series or Class not required to be paid or assumed by the Administrator under this Agreement, the Administrator shall not be obligated hereby to pay or assume the same or any similar expense in the future; PROVIDED, that nothing herein contained shall be deemed to relieve the Administrator of any obligation to the Trust or to a Series or Class under any separate agreement or arrangement between the parties.
Expenses of Each Series