Expense Cap definition

Expense Cap shall be equal to an Expense Ratio for the Funds as set forth on Exhibit A.

Expense Cap has the meaning set forth in the Fee Letter.

Expense Cap shall have the meaning set forth in Section 8 hereof;

Examples of Expense Cap in a sentence

• For the avoidance of doubt, the Sub-Fund will pay all of the Uncapped Expenses and the Uncapped Expenses will not be subject to the Expense Cap.

• Fees and Expenses (continued) Expense CapThe Investment Manager has agreed to limit the Capped Expenses to no more than up to 0.30% per annum of the net asset value of the applicable Sub-Fund (the “Expense Cap”), determined as of the end of each calendar month, and the Investment Manager will absorb any Capped Expenses in excess of the Expense Cap by reimbursing the Sub-Fund after the end of each calendar month (or, more frequently, if applicable) for such Capped Expenses.

• The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (taking into account the Expense Cap only in the first year).

• The Expense Cap will remain in effect through at least February 28, 2024, and may be terminated only by the Trust’s Board.

• There was an investment management fee waiver of US$Nil (31 December 2020: US$104,251) in respect of the Expense Cap detailed below.

More Definitions of Expense Cap

Expense Cap has the meaning specified in Section 5.2(a).

Expense Cap has the meaning set forth in Section 9.4(c).

Expense Cap has the meaning set forth in Section 7.15(a).

Expense Cap shall have the meaning set forth in the Pricing Side Letter.

Expense Cap means, for each year ending June 30, an annual amount equal to $50,000.

Expense Cap means, as of any Determination Date, U.S.$100,000.

Expense Cap is defined in Section 15.5.