Temporary Fee Cap Clause Samples

A Temporary Fee Cap clause sets a maximum limit on the fees that can be charged for a specific period during the term of an agreement. Typically, this cap applies to service fees, management fees, or other recurring charges, and remains in effect for a defined timeframe, after which standard or renegotiated rates may apply. The core function of this clause is to provide cost predictability and financial relief to the paying party during the initial phase of a contract, addressing concerns about unexpected or escalating expenses.
Temporary Fee Cap. The Investment Counsel and the Fund hereby agree that effective November 1, 2023, the Investment Counsel shall waive its fees and/or reimburse expenses so that total annual fund operating expenses (excluding interest, taxes, brokerage commissions, and extraordinary expenses) do not exceed 1.05% of average daily net assets. Amounts waived and/or reimbursed shall not be subject to recoupment by the Investment Counsel. This expense cap shall terminate April 30, 2025, unless the Investment Counsel agrees to an extension.
View SourceView Similar (9)

Related to Temporary Fee Cap

  • Temporary Upgrade An employee in a temporary upgrade status shall have no right to grieve or arbitrate release from such temporary upgrade status.

  • Temporary Layoff The Employer may temporarily layoff an employee for up to ninety (90) days due to an unanticipated loss of funding, revenue shortfall, lack of work, shortage of material or equipment, or other unexpected or unusual reasons. An employee will normally receive seven (7) days notice of a temporary layoff.

  • Temporary Living Expenses An employee shall be entitled to reimbursement for meals and lodging for up to twenty (20) working days, as provided by procedures of the Department of Administrative Services, following a transfer initiated by the Employer.

  • Temporary Suspension JetBrains reserves the right to suspend Customer’s access to JetBrains Products if Customer or User’s use of Product is in violation of this Agreement or disrupts or imminently threatens the security, integrity, or availability of a Product.

  • Temporary Layoffs A. The Employer may initiate a temporary layoff for up to twelve (12) working days per fiscal year. Employees will be given thirty (30) days’ notice before the effective date of a temporary layoff. Employees may request alternative temporary layoff days from their manager or supervisor and any requests will be considered and approved or denied in writing. B. A temporary layoff will not affect an employee’s incremental movement, vacation and sick leave accrual rates, or seniority. C. A temporary layoff is leave without pay. An employee may not use any leave for a temporary layoff day(s).