Common use of Fees, Expenses and Reimbursement Clause in Contracts

Fees, Expenses and Reimbursement. (a) The Board is authorized to pay or cause to be paid out of the principal or income of the Fund, or partly out of principal and partly out of income, as it deems fair, all expenses, fees, charges, taxes and liabilities incurred or arising in connection with the Fund, or in connection with the management thereof, including but not limited to, the Board’s compensation and such expenses and charges for the services of the Fund’s officers, employees, investment adviser or Directors, principal underwriter, auditor, counsel, custodian, transfer agent, shareholder servicing agent, and such other agents or independent contractors and such other expenses and charges as the Board may deem necessary or proper to incur. (b) The Board shall have the power, as frequently as it may determine, to cause each Shareholder, or each Shareholder of any particular Class, to pay directly, in advance or arrears, for charges of the Fund’s custodian or transfer, shareholder servicing or similar agent, an amount fixed from time to time by the Board, by setting off such charges due from such Shareholder from declared but unpaid dividends owed such Shareholder and/or by reducing the number of Shares in the account of such Shareholder by that number of full and/or fractional Shares which represents the outstanding amount of such charges due from such Shareholder. (c) The Fund from time to time, alone or in conjunction with other accounts for which the Adviser or any Affiliate of the Adviser, acts as general partner, managing member or investment adviser, may purchase Insurance in such amounts, from such insurers and on such terms as the Board shall determine.