Asset Based Fees. For Administration, Fund Accounting and Transfer Agency Services, the Client shall pay Service Provider: 7 basis points of the first $500 million in aggregate net assets of the Master Fund, plus 5 basis points of the next $500 million in aggregate net assets of the Master Fund, plus 4 basis points on the aggregate net assets of the Master Fund in excess of $1 billion. The Asset-Based Fees shall be subject to a monthly minimum fee of $10,416.67. The Asset-Based Fees shall be allocated one-third to Blackstone Alternative Alpha Master Fund and two-thirds to Blackstone Alternative Alpha Fund, or as otherwise determined by the Clients from time to time. Client shall promptly communicate any changes in the foregoing allocations to Service Provider. Aggregate net assets shall be computed as of the last day of each month prior to redemptions.
Appears in 4 contracts
Samples: Joinder Agreement (Blackstone Alternative Alpha Fund), Joinder Agreement (Blackstone Alternative Alpha Fund II), Services Agreement (Blackstone Alternative Alpha Master Fund)
