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.

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.