ADVISORY CONTRACTS 4 fp0071107_g1bi.htm ADVISORY CONTRACTS

Expense Limitation Agreement

 

To:

Resource Credit Income Fund

650 Madison Avenue, 23rd Floor

New York, NY 10022

 

October 31, 2020

 

Dear Board Members:

 

You have engaged us to act as the sole investment adviser to Resource Credit Income Fund (the “Trust,” or the “Fund”), pursuant to a Management Agreement dated on or about October 31, 2020.

 

Effective as of the date hereof, we agree, at least until October 31, 2022 to waive our management fees (excluding any incentive fee) and to pay or absorb the ordinary annual operating expenses of the Fund (excluding interest, brokerage commissions, acquired fund fees and expenses and extraordinary expenses), to the extent that our management fees plus the Fund’s ordinary annual operating expenses exceed 2.59%, 3.34%, 2.59%, 2.34%, and 2.84% per annum of the Fund's average daily net assets attributable to Class A, Class C, Class W, Class I and Class L shares, respectively.

 

This Expense Limitation Agreement may only be terminated by the Fund’s Board of Trustees, on 60 days written notice to us.

 

Any waiver or reimbursement by us is subject to repayment by the Fund within three years from the date we waived any payment or reimbursed any expense, if the Fund is able to make the repayment without exceeding the expense limitation in place at the time of waiver and the current expense limitation and the repayment is approved by the Board of Trustees.

 

Yours very truly,

 

Sierra Crest Investment Management LLC   Acceptance:  
      Resource Credit Income Fund  
By:     By:    
Name: Edward Goldthorpe   Name: Edward Goldthorpe  
Title: Executive Officer   Title: Trustee  
Date: As of October 31, 2020   Date: As of October 31, 2020