Common use of Recitations Clause in Contracts

Recitations. The Fund is an investment company registered with the Securities and Exchange Commission under the provisions of the Investment Company Act of 1940, and was organized pursuant to an amendment effective December 21, 1988 to the Declaration of Trust of Longleaf Partners Funds Trust, originally effective on November 26, 1986, under the name Southeastern Asset Management Value Trust (the “Master Trust”). The Investment Counsel is an investment adviser registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940. The Fund and the Investment Counsel are parties to an Investment Counsel Agreement dated August 1, 1994, and subsequently renewed from time to time (the “Agreement”) under which the Investment Counsel provides investment advisory and management services to the Fund.

Recitations. The Fund is an investment company registered with the Securities and Exchange Commission under the provisions of the Investment Company Act of 1940, and was organized pursuant to an amendment effective December 21August 11, 1988 1998 to the Declaration of Trust of Longleaf Partners Funds Trust, originally effective on November 26, 1986, under the name Southeastern Asset Management Value Trust (the “Master Trust”). The Investment Counsel is an investment adviser registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940. The Fund and the Investment Counsel are parties to an Investment Counsel Agreement dated August 111, 19941998, and subsequently renewed from time to time (the “Agreement”) under which the Investment Counsel provides investment advisory and management services to the Fund.

Recitations. The Fund is an investment company registered with the Securities and Exchange Commission under the provisions of the Investment Company Act of 1940, and was organized pursuant to an amendment effective December 21August 11, 1988 1998 to the Declaration of Trust of Longleaf Partners Funds Trust, originally effective on November 26, 1986, under the name Southeastern Asset Management Value Trust (the “Master Trust”). The Investment Counsel is an investment adviser registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940. The Fund and the Investment Counsel are parties to an Investment Counsel Agreement dated August 17, 19942012, and subsequently renewed from time to time (the “Agreement”) under which the Investment Counsel provides investment advisory and management services to the Fund. The Board of Trustees of the Fund and the Investment Counsel have agreed to implement an expense cap at 1.2%, effective May 1, 2018.

Recitations. The Fund is an investment company registered with the Securities and Exchange Commission under the provisions of the Investment Company Act of 1940, and was organized pursuant to an amendment effective December 21August 11, 1988 1998 to the Declaration of Trust of Longleaf Partners Funds Trust, originally effective on November 26, 1986, under the name Southeastern Asset Management Value Trust (the “Master Trust”). The Investment Counsel is an investment adviser registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940. The Fund and the Investment Counsel are parties to an Investment Counsel Agreement dated August 17, 19942012, and subsequently renewed from time to time (the “Agreement”) under which the Investment Counsel provides investment advisory and management services to the Fund. The Board of Trustees of the Fund and the Investment Counsel have agreed to implement an expense cap at 1.15%, effective November 23 ,2020.