Common use of Administrative Expense Reimbursement Clause in Contracts

Administrative Expense Reimbursement. Administrator shall be entitled to reimbursement, from amounts otherwise distributable to Beneficiaries, of all expenses and liabilities incurred by Administrator in connection with its efforts to collect the Royalty Rights, enforce the provisions of the Royalty Contracts and/or satisfying any indemnity or other obligations of Grantor under the Royalty Contracts. The Administrator shall also be entitled to be paid reasonable compensation for administration of the Trust not to exceed the lesser of (i) $10,000 per year, or (ii) twenty-five percent (25%) of Net Royalties received by the Trust for such year, payable quarterly on each Payment Date.

Administrative Expense Reimbursement. Administrator shall be entitled to reimbursement, from amounts otherwise distributable to Beneficiaries, of all expenses and liabilities incurred by Administrator in connection with its efforts to collect the Royalty Rights, enforce the provisions of the Royalty Contracts and/or satisfying any indemnity or other obligations of Grantor under the Royalty Contracts. The Administrator shall also be entitled to be paid reasonable compensation for administration of the Trust not to exceed the lesser of (i) $10,000 per year, or (ii) twenty-twenty- five percent (25%) of Net Royalties received by the Trust for such year, payable quarterly on each Payment Date.