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.
Appears in 3 contracts
Samples: Administrative Services Agreement (Variable Annuity Acct C of Ing Life Insurance & Annuity Co), Administrative Services Agreement (Pacific Select Exec Separate Acct Pacific Life Ins), Administrative Services Agreement (Pacific Select Exec Separate Acct Pacific Life Ins)
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 '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 '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.
Appears in 3 contracts
Samples: Administrative Services Agreement (Reliastar Bankers Security Life Insurance Co), Administrative Services Agreement (Separate Account One of Northern Life Insurance Co), Administrative Services Agreement (Select Life Variable Account)
