Operating Expense Limit Clause Samples
An Operating Expense Limit clause sets a maximum cap on the amount of operating expenses that can be charged to a tenant or party under a contract, typically in commercial leases. This clause works by specifying either a fixed dollar amount or a percentage increase limit on annual operating costs, ensuring that tenants are not subject to unpredictable or excessive increases in shared property expenses such as maintenance, utilities, or management fees. Its core function is to provide financial predictability and protect tenants from unexpected spikes in operating costs, thereby allocating risk more fairly between the parties.
Operating Expense Limit. The Fund’s maximum operating expense limits (each an “Operating Expense Limit”) in any year shall be that percentage of the average daily net assets of the Fund as set forth on Schedule A attached hereto and incorporated by this reference.
Operating Expense Limit. The Operating Expense Limit with respect to the Fund shall be 1.50% and 1.25% (annualized) of the average daily net assets of the Fund for its Investment Class and Institutional Class shares, respectively.
Operating Expense Limit. The Operating Expense Limit in any Term with respect to each class of a Fund shall be the amount specified in Schedule A.
Operating Expense Limit. The Operating Expense Limit in any year with respect to each Fund shall be the amount specified in Schedule A based on a percentage of the average daily net assets of each Fund.
Operating Expense Limit. The maximum Operating Expense Limit in any year with respect to the Fund shall be 3.50% of the average daily net assets of the Fund.
Operating Expense Limit. The Operating Expense Limit in any year shall be a percentage of the average daily net assets of each class of the Fund as described in Exhibit A, or such other rate as may be agreed to in writing by the parties. The parties hereby agree that Operating Expense Limit described in Exhibit A will not be increased before the date listed on Exhibit A.
Operating Expense Limit. The Operating Expense Limit in any year with respect to the Fund shall be 1.75% (annualized) of the average daily net assets of the Fund.
Operating Expense Limit. The maximum Operating Expense Limit in any year with respect to the Fund shall be 1.28%, 1.78% and 1.03% of the average daily net assets of Class A Shares, Class C Shares and Institutional Shares, respectively, of the Fund.
Operating Expense Limit. The Operating Expense Limit in any year shall be as set forth in Schedule A as to each Portfolio, or such other rate as may be agreed to in writing by the parties.
Operating Expense Limit. The maximum Operating Expense Limit in any year with respect to each Fund shall be the amount specified in Schedule A based on a percentage of the average daily net assets of the relevant class of shares of each Fund. Advisory fee waivers must be uniform across all share classes of a given Fund.