FIRST AMENDMENT TO OPERATING EXPENSE LIMITATION AGREEMENT Between NILE CAPITAL INVESTMENT TRUST and Nile Capital Management, LLC
FIRST AMENDMENT TO OPERATING EXPENSE LIMITATION AGREEMENT
Between
and
Nile Capital Management, LLC
THIS FIRST AMENDMENT TO THE OPERATING EXPENSE LIMITATION AGREEMENT (the “First Amendment”) is made and entered into as of July 29, 2015, between Nile Capital Investment Trust, a Delaware statutory trust (the “Trust”), and Nile Capital Management, LLC, a Delaware Limited Company (the "Adviser") located at 000 Xxxxxxx Xxxxxxxxx, Xxxxx 000, Xxxxxxxxx, XX 00000 ..
RECITALS:
WHEREAS, the parties previously entered into that certain Operating Expense Limitation Agreement between the Trust and the Adviser dated as of May 20, 2013 (the “Agreement”);
WHEREAS, in connection with a change in the Nile Frontier and Emerging Fund’s 12b-1 fee relating to Class A shares, the parties have subsequently agreed to adjust the Annual Limits (as defined in the Agreement) accordingly;
NOW, THEREFORE, the parties hereto agree as follows:
Appendix A of the Agreement is hereby replaced with the following:
NAME OF FUND | ANNUAL LIMITS AS A % OF AVERAGE NET ASSETS OF THE CLASS | |||
| Nile Pan Africa Equity Fund |
| ||
| Class A | 2.50% | ||
| Class C | 3.25% | ||
| Class I | 2.25% | ||
|
|
| ||
| Nile Africa and Frontier Bond Fund |
| ||
| Class A | 2.50% | ||
| Class C | 3.25% | ||
| Class I | 2.25% | ||
|
|
| ||
| Nile Frontier and Emerging Fund |
| ||
| Class A | 2.75% | ||
| Class C | 3.25% | ||
| Class I | 2.25% | ||
(signature page to follow)
IN WITNESS WHEREOF, the parties have caused this First Amendment to be signed by their respective officers thereunto duly authorized as of the date and year first above written.
By: /s/ Xxxxx Seruma______________
Name: Xxxxx Xxxxxx
Title: President
Nile Capital Management, LLC
By: /s/ Xxxxx Seruma______________
Name: Xxxxx Xxxxxx
Title: Managing Principal
