Common use of Compensation and Reimbursement of Costs and Expenses Clause in Contracts

Compensation and Reimbursement of Costs and Expenses. (a) The Managing Member shall receive an Asset Management Fee (“Asset Management Fee”) in the amount of 2% per annum of the Capital Contributions, as adjusted from time to time to reflect Capital Withdrawals, distributions, allocations and other capital account adjustments. The Asset Management Fee shall be paid monthly on the fifteenth (15) day of the month, or succeeding business day, commencing on the fifteenth (15th) day (or succeeding business day) of the second month following the Initial Closing and on a monthly basis thereafter and shall be calculated as of the last day of the preceding month. Additionally, the Managing Member shall be entitled to distributions of Net Income as a Class B Member as set forth in Section 6.1. (b) Subject to Section 3.1(c), to the extent any Managing Member Associate incurs any costs or expenses of any of the types described or referred to in Section 3.1(b)(vi), the Company shall reimburse such Managing Member Associate for such cost or expense (unless the Managing Member determines, in its sole and absolute discretion, that such Managing Member Associate shall bear such cost or expense without reimbursement). (c) The Company shall reimburse the Managing Member for organizational and initial offering costs and expenses incurred by the Managing Member in an amount not to exceed $150,000.

Compensation and Reimbursement of Costs and Expenses. (a) The Managing Member shall receive an Asset Management Fee (“"Asset Management Fee”") in the amount of 2% per annum of the Capital Contributions, as adjusted from time to time to reflect Capital Withdrawals, distributions, allocations and other capital account adjustmentstime. The Asset Management Fee shall be paid monthly on the fifteenth (15) day of the month, or succeeding business day, commencing on the fifteenth (15th) day (or succeeding business day) of the second month following the Initial Closing and on a monthly basis thereafter and shall be calculated as of the last day of the preceding month. Additionally, the Managing Member shall be entitled to distributions of Net Income as a Class B Member as set forth in Section 6.1. (b) Subject to Section 3.1(c), to the extent any Managing Member Associate incurs any costs or expenses of any of the types described or referred to in Section 3.1(b)(vi), the Company shall reimburse such Managing Member Associate for such cost or expense (unless the Managing Member determines, in its sole and absolute discretion, that such Managing Member Associate shall bear such cost or expense without reimbursement). (c) The Company shall reimburse the Managing Member for organizational and initial offering costs and expenses incurred by the Managing Member in an amount not to exceed $150,000.100,000. ,

Compensation and Reimbursement of Costs and Expenses. (a) The Managing Member shall receive an Asset Management Fee (“"Asset Management Fee”") in the amount of 2% per annum of the Capital Contributions, as adjusted from time to time to reflect Capital Withdrawals, distributions, allocations and other capital account adjustmentstime. The Asset Management Fee shall be paid monthly on the fifteenth (15) day of the month, or succeeding business day, commencing on the fifteenth (15th) day (or succeeding business day) of the second month following the Initial Closing and on a monthly basis thereafter and shall be calculated as of the last day of the preceding month. Additionally, the Managing Member shall be entitled to distributions of Net Income as a Class B Member as set forth in Section 6.1. (b) Subject to Section 3.1(c), to the extent any Managing Member Associate incurs any costs or expenses of any of the types described or referred to in Section 3.1(b)(vi), the Company shall reimburse such Managing Member Associate for such cost or expense (unless the Managing Member determines, in its sole and absolute discretion, that such Managing Member Associate shall bear such cost or expense without reimbursement). (c) The Company shall reimburse the Managing Member for organizational and initial offering costs and expenses incurred by the Managing Member in an amount not to exceed $150,000.