AGREEMENT TO WAIVE FEES AND REIMBURSE EXPENSES DAVIS NEW YORK VENTURE FUND, INC. CLASS T SHARES
TO WAIVE FEES AND REIMBURSE EXPENSES
XXXXX NEW YORK VENTURE FUND, INC.
CLASS T SHARES
THIS AGREEMENT is made this 8th day of September, 2017, between Xxxxx New York Venture Fund, Inc., a Maryland corporation ("DNYVF") and Xxxxx Selected Advisers, L.P., a limited partnership organized under the laws of Colorado ("DSA").
RECITALS:
WHEREAS, DNYVF is a registered open-end management investment company with four authorized series (Xxxxx New York Venture Fund, Xxxxx Research Fund, Xxxxx Global Fund, and Xxxxx International Fund); and
WHEREAS, DSA serves as the investment adviser for DNYVF; and
WHEREAS, as of June 30, 2017, Xxxxx New York Venture Fund (the "Fund") offers Class T shares to the public; and
WHEREAS, both DNYVF and DSA agree it is important that the actual expenses of Class T shares of the Fund, and future Class T shares of any of the four authorized series of DNYVF, not exceed a specified percentage, that being 1.00% of net assets on an annual basis;
NOW, THEREFORE, the parties hereby agree as follows:
1. Expense Caps. DSA agrees to waive fees and reimburse the expenses of Class T shares of the Fund, and any future Class T shares of any of the four authorized series of DNYVF, to the extent it is necessary to ensure that the actual expense incurred by Class T shares for each authorized series do not exceed 1.00% of net assets on an annual basis.
2. Duration of Agreement. This Agreement shall be effective as of June 30, 2017, and ending on June 29, 2018. This Agreement shall automatically renew for additional one-year periods if not terminated, in writing, by either party before June 23rd of each year.
IN WITNESS WHEREOF, the parties have duly executed and sealed this Agreement, all as of the date first written above.
Xxxxx New York Venture Fund, Inc.
By: /s/ Xxxx Xxxxxx
Xxxx Xxxxxx
Vice President
Xxxxx Selected Advisers, L.P.
By Xxxxx Investments, LLC (General Partner)
By: /s/ Xxxx Xxxxxxx
Xxxx Xxxxxxx
Vice President
