Administrative Services Fee. The Trust shall pay to the Company in immediately available funds, on or before the 60th day following each calendar quarter, an administrative services fee of $50,000 (the “Administrative Services Fee”). In the event that this Agreement is terminated during a calendar quarter pursuant to Section 5.01, the amount of the Administrative Services Fee for such calendar quarter shall be based upon the pro rata portion of the Administrative Services Fee that shall have accrued during such quarter up to and including the date of termination of this Agreement. In addition to the Administrative Services Fee, the Trust shall reimburse the Company on or before the 60th day following each calendar quarter for all reasonable and necessary External Expenses associated with the provision of Services in the preceding quarter as set forth in a reasonably detailed invoice provided by the Company to the Trust on or before the 50th day following each calendar quarter, but only to the extent that the Company certifies to the Trustee that the Company was unable to perform the Services in the ordinary course of its business for which it incurred the External Expenses.
Appears in 6 contracts
Samples: Administrative Services Agreement, Administrative Services Agreement, Administrative Services Agreement (Whiting USA Trust II)
