Common use of Payments to Distributor Clause in Contracts

Payments to Distributor. The Fund may expend pursuant to this Plan and as set forth below an aggregate amount not to exceed [X.XX%] per annum of the average daily net assets of the Fund’s Class A-2 shares. Subject to the limit described above, the Fund shall pay or reimburse the Distributor, as principal underwriter of the Fund’s shares, or any other eligible institution or party, at the direction of the Distributor or the Fund’s investment adviser, for amounts expended by the Distributor or such other party to finance any activity that is related to distribution and/or shareholder servicing; provided, (i) that a majority of the Board of Trustees of the Fund, including a majority of the Independent Trustees, shall have approved categories of expenses for which payment or reimbursement shall be made pursuant to this paragraph, and (ii) that reimbursement shall be made in accordance with the terms of the Agreement. All or a portion of such amounts payable under this paragraph may be paid to any registered securities dealer, financial institution or other person (“Recipient”) who renders assistance in distributing or promoting the sale of the Fund’s Class A-2 shares, or who provides certain shareholder services, pursuant to a written agreement adopted in accordance with Rule 12b-1 under the 1940 Act.

Payments to Distributor. The Fund may expend pursuant to this Plan and as set forth below an aggregate amount not to exceed [X.XX%] per annum of the average daily net assets of the Fund’s Class A-2 A shares. Subject to the limit described above, the Fund shall pay or reimburse the Distributor, as principal underwriter of the Fund’s shares, or any other eligible institution or party, at the direction of the Distributor or the Fund’s investment adviser, for amounts expended by the Distributor or such other party to finance any activity that is related to distribution and/or shareholder servicing; provided, (i) that a majority of the Board of Trustees of the Fund, including a majority of the Independent Trustees, shall have approved categories of expenses for which payment or reimbursement shall be made pursuant to this paragraph, and (ii) that reimbursement shall be made in accordance with the terms of the Agreement. All or a portion of such amounts payable under this paragraph may be paid to any registered securities dealer, financial institution or other person (“Recipient”) who renders assistance in distributing or promoting the sale of the Fund’s Class A-2 A shares, or who provides certain shareholder services, pursuant to a written agreement adopted in accordance with Rule 12b-1 under the 1940 Act.