Common use of ACCRUAL AND PAYMENT OF FEES AND EXPENSES; EXTRAORDINARY AUDITS Clause in Contracts

ACCRUAL AND PAYMENT OF FEES AND EXPENSES; EXTRAORDINARY AUDITS. (a) All fees and reimbursable expenses (or an estimate thereof) shall be accrued daily by the Client and shall be payable monthly in arrears on the first day of each calendar month for services performed or expenses incurred during the prior calendar month.

ACCRUAL AND PAYMENT OF FEES AND EXPENSES; EXTRAORDINARY AUDITS. (a) All fees and reimbursable expenses (or an estimate thereof) shall be accrued daily by the Client Client. Fixed or determinable fees shall be paid monthly in advance on the first day of each calendar month. Variable fees (such as asset-based fees) and reimbursable expenses shall be payable monthly in arrears on the first day of each calendar month for services performed or expenses incurred during the prior calendar month.