Common use of Termination, Modification and Amendment Clause in Contracts

Termination, Modification and Amendment. Upon the termination of any Investment Advisory Agreement, this Agreement shall automatically terminate with respect to that Fund. The Adviser agrees that the Expense Limitation shall not be modified or terminated during the Initial Term. The Adviser shall be entitled to modify or terminate the Expense Limitation with respect to any fiscal year that commences subsequent to the date this Agreement is executed if, but only if, the Adviser affirmatively elects to modify or terminate the Expense Limitation with respect to such subsequent fiscal year and such election is made prior to both the commencement of the next Subsequent Term and the effective date of the Fund's post-effective amendment to its Registration Statement on Form N-1A filed for the purposes of incorporating the Fund's audited financial statements relating to the prior fiscal year; and provided that this Agreement shall remain in effect at all times until the Fund's then current prospectus is amended or supplemented to reflect the termination or modification of this Agreement. The election by the Adviser referred to in the preceding sentence to terminate or modify this Agreement shall be made in a writing delivered to the Board of Trustees prior to such termination of modification, but shall not be subject to the approval of the Fund or the Board of Trustees of the Trust.

Termination, Modification and Amendment. Upon the termination of any Investment Advisory Agreement, this Agreement shall automatically terminate with respect to that Fund. The Adviser agrees that the Expense Limitation shall not otherwise be modified or terminated during the Initial Term. The Adviser shall be entitled to modify or terminate the Expense Limitation with respect to any fiscal year that commences subsequent to the date this Agreement is executed Subsequent Period if, but only if, the Adviser affirmatively elects to modify or terminate the Expense Limitation with respect to such subsequent fiscal year and such election is made Subsequent Period in a writing delivered to the Board of Trustees prior to both the commencement of the next Subsequent Term Period and the effective date of the Fund's ’s post-effective amendment to its Registration Statement on Form N-1A filed for the purposes purpose of incorporating the Fund's ’s audited financial statements relating to the prior fiscal year; and provided that this Agreement shall remain in effect at all times until the Fund's ’s then current prospectus is amended or supplemented to reflect the termination or modification of this Agreement. The election by the Adviser referred to in the preceding sentence to terminate or modify this Agreement shall be made in a writing delivered to the Board of Trustees prior to such termination of modification, but shall not be subject to the approval of the Fund or the Board of Trustees of the Trust.