Recoupment of Fee Waivers and Expense Reimbursements Sample Clauses
The "Recoupment of Fee Waivers and Expense Reimbursements" clause allows a party, typically a service provider or manager, to recover previously waived fees or reimbursed expenses under certain conditions. In practice, this means that if the provider initially agreed to reduce or forgo fees, or covered certain costs on behalf of the client, they may later reclaim those amounts if specific financial thresholds or performance targets are met. This clause ensures that fee waivers or reimbursements are not permanent concessions, but rather conditional benefits, thereby protecting the provider’s ability to recover costs if the client’s financial situation improves or the agreement’s terms are satisfied.
POPULAR SAMPLE Copied 1 times
Recoupment of Fee Waivers and Expense Reimbursements. If the annualized Fund Operating Expenses of a class of a Fund listed in Schedule A are less than the Operating Expense Limit on any day during which the Management Agreement is in effect, the Manager shall be entitled to recoup from the Fund any expense reimbursements and other payments remitted by the Manager to such class pursuant to Section 1 hereof (for such class, the "Recoupment Amount") during any of the previous thirty-six (36) months, to the extent that such class' annualized Fund Operating Expenses plus the amount so recouped equals, for such day, the Operating Expense Limit provided in Schedule A, provided that such amount paid to the Manager from such class will in no event exceed the total Recoupment Amount and the Recoupment Amount will not include any amounts previously recouped. Payment of such Recoupment Amount may be made twice monthly but in no event less frequently than semi-annually.
Recoupment of Fee Waivers and Expense Reimbursements