Common use of Administrative Service Fee Clause in Contracts

Administrative Service Fee. 2.01 In consideration of the services provided by the Insurance Company pursuant to this Agreement, the Fund agrees to pay Insurance Company an annual Administrative Service Fee as set forth in Schedule A attached hereto and made a part hereof. Nothing herein shall preclude the assignment of all or any portion of the foregoing Administrative Service Fee to any sub-agent contracted by Insurance Company. 2.02 The Fund agrees to pay all fees and reimbursable expenses within five days following the mailing of the respective billing notice. The above fees will be charged against each Fund's custodian checking account five (5) days after the invoice is transmitted to the Fund.