Common use of INVESTMENT ADVISORY AND MANAGEMENT FEE Clause in Contracts

INVESTMENT ADVISORY AND MANAGEMENT FEE. (f) Any such reductions made by the Adviser in its management fees or payment of expenses which are the Fund’s obligation are subject to reimbursement by the Fund to the Adviser, if so requested by the Adviser, in any subsequent month in the three year period from the date of the management fee reduction and/or expense payment if the aggregate amount actually paid by the Fund toward the operating expenses for such month (taking into account the reimbursement) will not cause the Fund to exceed the lesser of: (1) the expense limitation in place at the time of the management fee reduction and/or expense payment; or (2) the expense limitation in place at the time of the reimbursement. Any such reimbursement is also contingent upon the Board of Trustees’ quarterly review and approval. Such reimbursement may not be paid prior to the Fund’s payment of current ordinary operating expenses.” Except to the extent amended hereby, the Agreement shall remain in full force and effect.

INVESTMENT ADVISORY AND MANAGEMENT FEE. (f) Any such reductions made by the Adviser in its management fees or payment of expenses which are the Fund’s obligation are subject to reimbursement by the Fund to the Adviser, if so requested by the Adviser, in any subsequent month in the three year period from the date of the management fee reduction and/or and expense payment if the aggregate amount actually paid by the Fund toward the operating expenses for such month fiscal year (taking into account the reimbursement) will not cause the Fund to exceed the lesser of: (1) the expense limitation in place at the time of the management fee reduction and/or and expense payment; or (2) the expense limitation in place at the time of the reimbursement. Any such reimbursement is also contingent upon the Board of Trustees’ quarterly Trustees review and approvalapproval at time the reimbursement is made. Such reimbursement may not be paid prior to the Fund’s payment of current ordinary operating expenses.” Except to the extent amended hereby, the Agreement shall remain in full force and effect.

INVESTMENT ADVISORY AND MANAGEMENT FEE. (f) Any such reductions made by the Adviser Advisor in its management fees or payment of expenses which are the a Fund’s 's obligation are subject to reimbursement by the Fund to the AdviserAdvisor, if so requested by the AdviserAdvisor, in any subsequent month in the three year period from the date of the management fee reduction and/or and expense payment if the aggregate amount actually paid by the Fund toward the operating expenses for such month fiscal year (taking into account the reimbursement) will not cause the Fund to exceed the lesser of: (1) the expense limitation in place at the time of the management fee reduction and/or and expense payment; or (2) the expense limitation in place at the time of the reimbursement. Any such reimbursement is also contingent upon the Board of Trustees’ quarterly Trustees review and approvalapproval at time the reimbursement is made. Such reimbursement may not be paid prior to the Fund’s 's payment of current ordinary operating expenses.” " Except to the extent amended hereby, the Agreement shall remain in full force and effect.

INVESTMENT ADVISORY AND MANAGEMENT FEE. (f) Any such reductions made by the Adviser Advisor in its management fees or payment of expenses which are the Fund’s obligation are subject to reimbursement by the Fund to the AdviserAdvisor, if so requested by the AdviserAdvisor, in any subsequent month in the three year period from the date of the management fee reduction and/or and expense payment if the aggregate amount actually paid by the Fund toward the operating expenses for such month fiscal year (taking into account the reimbursement) will not cause the Fund to exceed the lesser of: (1) the expense limitation in place at the time of the management fee reduction and/or and expense payment; or (2) the expense limitation in place at the time of the reimbursement. Any such reimbursement is also contingent upon the Board of Trustees’ quarterly Trustees review and approvalapproval at time the reimbursement is made. Such reimbursement may not be paid prior to the Fund’s payment of current ordinary operating expenses.” Except to the extent amended hereby, the Agreement shall remain in full force and effect.

INVESTMENT ADVISORY AND MANAGEMENT FEE. (f) Any such reductions made by the Adviser Advisor in its management fees or payment of expenses which are the Fund’s obligation are subject to reimbursement by the Fund to the AdviserAdvisor, if so requested by the AdviserAdvisor, in any subsequent month in the three year period from the date of the management fee reduction and/or and expense payment if the aggregate amount actually paid by the Fund toward the operating expenses for such month fiscal year (taking into account the reimbursement) will not cause the Fund to exceed the lesser of: (1) the expense limitation in place at the time of the management fee reduction and/or and expense payment; or (2) the expense limitation in place at the time of the reimbursement. Any such reimbursement is also contingent upon the Board of Trustees’ quarterly Trustees review and approvalapproval at time the reimbursement is made. Such reimbursement may not be paid prior to the Fund’s payment of current ordinary operating expenses.” Except to the extent amended hereby, the Agreement shall remain in full force and effect.

INVESTMENT ADVISORY AND MANAGEMENT FEE. (f) Any such reductions made by the Adviser in its management fees or payment of expenses which are the a Fund’s obligation are subject to reimbursement by the Fund to the Adviser, if so requested by the Adviser, in any subsequent month in the three year period from the date of the management fee reduction and/or and expense payment if the aggregate amount actually paid by the Fund toward the operating expenses for such month fiscal year (taking into account the reimbursement) will not cause the Fund to exceed the lesser of: (1) the expense limitation in place at the time of the management fee reduction and/or and expense payment; or (2) the expense limitation in place at the time of the reimbursement. Any such reimbursement is also contingent upon the Board of Trustees’ quarterly Trustees review and approvalapproval at time the reimbursement is made. Such reimbursement may not be paid prior to the Fund’s payment of current ordinary operating expenses.” Except to the extent amended hereby, the Agreement shall remain in full force and effect.

INVESTMENT ADVISORY AND MANAGEMENT FEE. (f) Any such reductions made by the Adviser in its management fees or payment of expenses which are the Fund’s 's obligation are subject to reimbursement by the Fund to the Adviser, if so requested by the Adviser, in any subsequent month in the three year period from the date of the management fee reduction and/or and expense payment if the aggregate amount actually paid by the Fund toward the operating expenses for such month fiscal year (taking into account the reimbursement) will not cause the Fund to exceed the lesser of: (1) the expense limitation in place at the time of the management fee reduction and/or and expense payment; or (2) the expense limitation in place at the time of the reimbursement. Any such reimbursement is also contingent upon the Board of Trustees’ quarterly Trustees review and approvalapproval at time the reimbursement is made. Such reimbursement may not be paid prior to the Fund’s 's payment of current ordinary operating expenses.” " Except to the extent amended hereby, the Agreement shall remain in full force and effect.

INVESTMENT ADVISORY AND MANAGEMENT FEE. (f) Any such reductions made by the Adviser in its management fees or payment of expenses which are the Fund’s obligation are subject to reimbursement by the Fund to the Adviser, if so requested by the Adviser, in any subsequent month in the three year period from the date of the management fee reduction and/or expense payment if the aggregate amount actually paid by the Fund toward the operating expenses for such month (taking into account the reimbursement) will not cause the Fund to exceed the lesser of: (1) the expense limitation in place at the time of the management fee reduction and/or expense payment; or (2) the expense limitation in place at the time of the reimbursement. Any such reimbursement is also contingent upon the Board of Trustees’ quarterly review and approval. Such reimbursement may not be paid prior to the Fund’s payment of current ordinary operating expenses.” and Amended and Restated Schedule A of the Agreement is hereby superseded and replaced with Amended and Restated Schedule A attached hereto, for the sole purpose of removing references to a Fund no longer in operation. Except to the extent amended hereby, the Agreement shall remain in full force and effect.

INVESTMENT ADVISORY AND MANAGEMENT FEE. (f) Any such reductions made by the Adviser in its management fees or payment of expenses which are the Fund’s obligation are subject to reimbursement by the Fund to the Adviser, if so requested by the Adviser, in any subsequent month in the three year period from the date of the management fee reduction and/or expense payment if the aggregate amount actually paid by the Fund toward the operating expenses for such month (taking into account the reimbursement) will not cause the Fund to exceed the lesser of: (1) the expense limitation in place at the time of the management fee reduction and/or expense payment; or (2) the expense limitation in place at the time of the reimbursement. Any such reimbursement is also contingent upon the Board of Trustees’ quarterly review and approval. Such reimbursement may not be paid prior to the Fund’s payment of current ordinary operating expenses.” Except to the extent amended hereby, the Agreement shall remain in full force and effect.

INVESTMENT ADVISORY AND MANAGEMENT FEE. (f) Any such reductions made by the Adviser in its management fees or payment of expenses which are the a Fund’s 's obligation are subject to reimbursement by the Fund to the Adviser, if so requested by the Adviser, in any subsequent month in the three year period from the date of the management fee reduction and/or and expense payment if the aggregate amount actually paid by the Fund toward the operating expenses for such month fiscal year (taking into account the reimbursement) will not cause the Fund to exceed the lesser of: (1) the expense limitation in place at the time of the management fee reduction and/or and expense payment; or (2) the expense limitation in place at the time of the reimbursement. Any such reimbursement is also contingent upon the Board of Trustees’ quarterly Trustees review and approvalapproval at time the reimbursement is made. Such reimbursement may not be paid prior to the Fund’s 's payment of current ordinary operating expenses.” " Except to the extent amended hereby, the Agreement shall remain in full force and effect.

INVESTMENT ADVISORY AND MANAGEMENT FEE. (f) Any such reductions made by the Adviser Advisor in its management fees or payment of expenses which are the Fund’s 's obligation are subject to reimbursement by the Fund to the AdviserAdvisor, if so requested by the AdviserAdvisor, in any subsequent month in the three year period from the date of the management fee reduction and/or and expense payment if the aggregate amount actually paid by the Fund toward the operating expenses for such month fiscal year (taking into account the reimbursement) will not cause the Fund to exceed the lesser of: (1) the expense limitation in place at the time of the management fee reduction and/or and expense payment; or (2) the expense limitation in place at the time of the reimbursement. Any such reimbursement is also contingent upon the Board of Trustees’ quarterly Trustees review and approvalapproval at time the reimbursement is made. Such reimbursement may not be paid prior to the Fund’s 's payment of current ordinary operating expenses.” " Except to the extent amended hereby, the Agreement shall remain in full force and effect.

INVESTMENT ADVISORY AND MANAGEMENT FEE. (f) Any such reductions made by the Adviser Advisor in its management fees or payment of expenses which are the Fund’s obligation are subject to reimbursement by the Fund to the AdviserAdvisor, if so requested by the AdviserAdvisor, in any subsequent month in the three year period from the date of the management fee reduction and/or and expense payment if the aggregate amount actually paid by the Fund toward the operating expenses for such month fiscal year (taking into account the reduction and reimbursement) will not cause the Fund to exceed the lesser of: (1) the expense limitation in place at the time of the management fee reduction and/or and expense payment; or (2) the expense limitation in place at the time of the reimbursement. Any such reimbursement is also contingent upon the Board of Trustees’ quarterly Trustees review and approvalapproval at the time the reimbursement is made. Such reimbursement may not be paid prior to the Fund’s payment of current ordinary operating expenses.” Except to the extent amended hereby, the Agreement shall remain in full force and effect.