Common use of Administrative Expense Payments Clause in Contracts

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.

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.