Administrative Expense Payments. The Fund Administrator recognizes the Company, on behalf of the Accounts, as the shareholder of shares of the Funds purchased under the Participation Agreement on behalf of the Accounts. The Fund Administrator further recognizes that it will derive a substantial administrative convenience by virtue of having the Company be the shareholder of record of shares of the Funds purchased under the Participation Agreement, rather than multiple shareholders having record ownership of such shares. The Fund Administrator recognizes that the Company will provide administrative services necessary to facilitate investment in the Funds. In consideration of the Administrative Services provided by the Company and the administrative convenience resulting to the Fund Administrator described above, the Fund Administrator agrees to pay the Company a fee as set forth in Schedule B.
Administrative Expense Payments. The Fund Administrator agrees to pay the Company a fee, computed daily and paid quarterly in arrears, equal to an annual rate as set forth below, applied to the average daily net assets of the shares of the Funds held in the subaccounts of the Accounts. The payment will be computed and paid in the manner described more completely in the Agreement.
Administrative Expense Payments. (a) The fee due for an invoice period for position(s)(“Positions”) in an applicable share class of an equity Portfolio (excluding index Portfolios) described on Schedule B of the Participation Agreement held in Separate Account(s) of the Insurer shall be equal to the product of (i) the annual fee rate of [5] basis points (0.05%),(ii) the quotient of (A) the number of calendar days in the invoice period divided by (B) 365 days (or 366 days during a leap year) and (iii) the average daily value of such share class of such Portfolio held by the Separate Account(s) for the invoice period.
(b) The fee due for an invoice period for Positions in an applicable share class of a fixed income Portfolio (excluding index Portfolios) described on Schedule B of the Participation Agreement held in Separate Account(s) of the Insurer shall be equal to the product of (i) the annual fee rate of 5 basis points (0.05%),(ii) the quotient of (A) the number of calendar days in the invoice period divided by (B) 365 days (or 366 days during a leap year) and (iii) the average daily value of such share class of such Portfolio held by the Separate Account(s) for the invoice period.
(c) The fee due for an invoice period for Positions in an applicable share class of an index Portfolio described on Schedule B of the Participation Agreement held in Separate Account(s) of the Insurer shall be equal to the product of (i) the annual fee rate of 5 basis points (0.05%),(ii) the quotient of (A) the number of calendar days in the invoice period divided by (B) 365 days (or 366 days during a leap year) and (iii) the average daily value of such share class of such Portfolio held by the Separate Account(s) for the invoice period.
(d) No fees shall be paid on money market Portfolios.
(e) The “daily value” of an applicable share class of a Portfolio held in the Separate Accounts of the Insurer for a calendar day will be the product of (i) the Share net asset value for that CUSIP for the calendar day as reported by the Fund or its designee and (ii) total number of Shares of the Portfolio calculated for that CUSIP held in the Separate Accounts on that calendar day.
(f) The “average daily value” of an applicable share class of a Portfolio held in the Separate Accounts of the Insurer for the invoice period will be computed by totaling the daily value of that CUSIP held in the Separate Accounts on each calendar day of the invoice period and dividing the result by the total number of calendar days during the ...
Administrative Expense Payments. (a) Subject to paragraph (c) of this section, the Trust agrees to pay the Company at the end of each month an amount equal to the percentages of average daily net assets shown on Schedule A hereto for each applicable Fund during the month.
(b) The Trust shall calculate and make the payment described in paragraph (a) of this section within 15 days of the end of each month without demand or notice from the Company.
(c) The Company and the Trust understand that the Trust may enter into similar administrative services agreements with other insurance companies with regard to any Fund.
Administrative Expense Payments. In consideration of the anticipated administrative expense savings resulting from the arrangements set forth in this Agreement, the Adviser agrees to pay the Company on a quarterly basis an amount set forth in Schedule B attached hereto and made a part hereof. The expense payment contemplated by this Paragraph 2 shall be calculated by the Company at the end of each calendar quarter and the Company shall provide to the Adviser a statement showing the basis for the calculation of the quarterly amount payable by the Adviser. The Adviser shall make the quarterly expense payment to the Company within 10 days after the end of each calendar quarter, or within 10 days after the Adviser’s receipt from the Company of the expense calculation, whichever is later.
Administrative Expense Payments. In consideration of the anticipated administrative expense savings resulting from the arrangements set forth in this Agreement, XXX agrees to pay AGL on a quarterly basis an amount set forth in Schedule B. For purposes of computing the payment to AGL contemplated under this Paragraph 2 for each quarterly period, the total of the average daily net assets invested by the Separate Accounts shall be multiplied by the rate shown in Schedule B multiplied by the actual number of days in the period divided by 365. The expense payment contemplated by this Paragraph 2 shall be calculated by XXX at the end of each quarter and will be paid to AGL within 30 days thereafter on a pro-rata basis. Payment will be accompanied by a statement showing the calculation of the quarterly amount payable by XXX and such other supporting data as may be reasonably requested by AGL.
Administrative Expense Payments. In consideration of the anticipated administrative expense savings resulting to the Adviser from the arrangements set forth in this Agreement, the Adviser agrees to pay the Company on a quarterly basis, from the Adviser’s own resources, including its bona fide profits, an amount set forth in Schedule B attached hereto and made a part hereof. For purposes of computing the payment to the Company contemplated under this Paragraph 2, the average daily net assets invested by the Company over a quarterly period shall be computed by totaling the Company’s aggregate investment (share net asset value multiplied by the total number of shares held by the Company) on each calendar day during the quarterly period, and dividing by the total number of calendar days during such quarterly period. The payment contemplated by this Paragraph 2 shall be calculated by the Adviser at the end of each quarter and will be paid to the Company within 30 days thereafter. Payment will be accompanied by a statement showing the calculation of the quarterly amount payable by the Adviser and such other supporting data as may be reasonably requested by the Company.
Administrative Expense Payments. In consideration of the anticipated ------------------------------- administrative expense savings resulting from the arrangements set forth in this Agreement, CSAM agrees to pay the Company on a quarterly basis an amount set forth in Schedule B attached hereto and made a part hereof. For purposes of computing the payment to the Company contemplated under this Paragraph 2 for each quarterly period, the average daily net assets invested by the Account shall be multiplied by the rate shown in Schedule B multiplied by the actual number of days in the period divided by 365. The expense payment contemplated by this Paragraph 2 shall be calculated by CSAM at the end of each quarter and will be paid to the Company within 30 days thereafter. Payment will be accompanied by a statement showing the calculation of the quarterly amount payable by CSAM and such other supporting data as may be reasonably requested by the Company.
Administrative Expense Payments. (a) BAL or its designee shall pay the Insurer an annual fee equal to 25 basis points (0.25%) of the average daily assets attributable to shares of the equity Portfolios, excluding index Portfolios, described on Schedule B of the Participation Agreement that are held in Separate Accounts of the Insurer.
(b) BAL or its designee shall pay the Insurer an annual fee equal to 15 basis points (0.15%) of the average daily assets attributable to shares of the fixed Income Portfolios, excluding index Portfolios, described on Schedule B of the Participation Agreement that are held in Separate Accounts of the Insurer.
(c) BAL or its designee shall pay the Insurer an annual fee equal to 5 basis points (0.05%) of the average daily assets attributable to shares of the index Portfolios described on Schedule B of the Participation Agreement that are held in Separate Accounts of the Insurer.
(d) The Insurer shall calculate the payment contemplated by this Section 1 at the end of each calendar quarter ("Quarterly Payment") and shall submit invoices on a quarterly basis to BAL or its designee at XxxXxxxxxxx.xxxxxxxx@xxxxxxxxx.xxx or such other email address specified by BAL or its designee from time to time. The invoice will be submitted in a Microsoft Excel format and will include the following information:
1. Total average daily assets during the period covered by the invoice by CUSIP and account.
2. The basis point rate that applies to each CUSIP and account.
3. The subtotal amounts due by CUSIP.
4. The total amount due.
5. Payment instructions (Wire/ ACH).
6. Invoice contact information for the Insurer. Invoices must be received in a timely manner. Any initial invoice which is received by BAL or its designee subsequent to three (3) months after the time period covered by the invoice may be subject to non-payment. Additions or adjustments by the Insurer to previously received invoices which are received by BAL or its designee subsequent to six (6) months after the time period covered by the invoice may also be subject to non-payment. The parties acknowledge and agree that the funds, assets and/or accounts covered under this Agreement (the "Assets") will not be subject to fees or any additional payment arrangements with the Fund, BAL or BlackRock Investments, LLC (collectively, the "Fund Parties") or any of their respective affiliates for administrative, sub-transfer agency, sub-accounting or networking services or for any similar services ("Services"), other than as descri...
Administrative Expense Payments. The Adviser agrees to pay to the Company an amount equal to an annual rate of x.xx% percent of the average net assets of the Trust that are attributable to variable life contracts offered by the Company during the prior quarter. The Adviser shall calculate the payment contemplated by this Section 1 at the end of each fiscal quarter and will make such payment to the Company, without demand or notice by the Company within 30 days thereafter.
