Expense Limitation Agreement
Exhibit 99(k)(2)
Expense Limitation Agreement
0000 Xxxxxx Xxxxxx, 00xx Xxxxx
Xxxxxxxxxxxx, XX 00000
June 5, 2015
Dear Board Members:
You have engaged us to act as the sole investment adviser to the Resource Real Estate Diversified Income Fund (the “Trust,” or the “Fund”), pursuant to a Management Agreement dated as of December 13, 2012.
Effective from date hereof until at least June 30, 2016, we agree to waive our fees and to pay or absorb the ordinary annual operating expenses of the Fund (including offering and organizational expenses, but excluding interest, brokerage commissions, acquired fund fees and expenses and extraordinary expenses), to the extent that they exceed 1.99%, 2.74%, 1.74%, 2.49%, 1.99%, 2.74% and 2.49% per annum of the Fund’s average daily net assets attributable to Class A, Class C, Class I, Class W, Class U, Class T and Class D shares, respectively.
Additionally, this Expense Limitation Agreement may not be terminated by Resource Real Estate, Inc., but may be terminated by the Fund’s Board of Trustees, on 60 days written notice to Resource Real Estate, Inc.
Any waiver or reimbursement by us is subject to repayment by the Fund within the three fiscal years following the fiscal year in which the expenses were incurred, if the Fund is able to make the repayment without exceeding its current expense limitation and the repayment is approved by the Board of Trustees.
Yours Very Truly, | |||
RESOURCE REAL ESTATE, INC. | |||
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By:
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/s/
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Name: | Xxxx Xxxxxxx | ||
Title: | CEO | ||
Date: | June 9, 2015 |
ACCEPTANCE:
The foregoing Agreement is hereby accepted.
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By:
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/s/
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Name: | Xxxxx Xxxxxx | ||
Title: | President | ||
Date: | June 9, 2015 |