Common use of Year-End Adjustment Clause in Contracts

Year-End Adjustment. If necessary, on or before the last Fund business day (as defined in the Fund’s current prospectus) of the first month of each fiscal year, an adjustment payment shall be made by the appropriate party in order that the amount of the investment advisory fees waived or reduced and other payments remitted by the Adviser to a Class with respect to the previous fiscal year shall equal the Excess Amount.

Year-End Adjustment. If necessary, on or before the last Fund business day (as defined in the Fund’s current prospectus) of the first month of each fiscal year, an adjustment payment shall be made by the appropriate party in order that the amount actual Class Operating Expenses of the investment advisory fees waived or reduced and other payments remitted by the Adviser to a Class for the prior fiscal year (including any reimbursement payments hereunder with respect to such fiscal year) do not exceed the previous fiscal year shall equal the Excess AmountOperating Expense Limit of that Class.

Year-End Adjustment. If necessary, on or before the last Fund business day (as defined in the Fund’s current prospectus) of the first month of each Fund’s fiscal year, an adjustment payment shall be made with respect to the Institutional Class of such Funds by the appropriate party in order that the amount of the investment advisory fees waived or reduced and other payments remitted and/or paid by the Adviser to a Class the Fund with respect to the previous fiscal year shall equal for such class are sufficient to ensure that the Excess AmountOperating Expenses of the Institutional Class do not exceed the Operating Expense Limit applicable to such class of a Fund.

Year-End Adjustment. If necessary, on or before the last Fund business day (as defined in the Fund’s current confidential private placement memorandum or prospectus, as applicable) of the first month of each fiscal year, an adjustment payment shall be made by the appropriate party in order that the amount actual Class Operating Expenses of the investment advisory fees waived or reduced and other payments remitted by the Adviser to a Class for the prior fiscal year (including any reimbursement payments hereunder with respect to such fiscal year) do not exceed the previous fiscal year shall equal the Excess AmountOperating Expense Limit of that Class.