Common use of Computation and Payment of Fee Clause in Contracts

Computation and Payment of Fee. The administration fee shall accrue on each calendar day, and shall be payable monthly on the first business day of the next succeeding calendar month. The daily fee accruals for the Fund shall be computed by multiplying the fraction of one divided by the number of days in the calendar year by the applicable annual administration fee rate (as set forth in Schedule A hereto), and multiplying this product by the total assets minus liabilities other than the aggregate indebtedness entered into for purposes of leverage ("Managed Assets") of the Fund, determined in the manner set forth in the Fund's Prospectus, as of the close of business on the last preceding business day on which the Fund's NAV was determined.

Computation and Payment of Fee. The administration fee shall accrue on each calendar day, and shall be payable monthly on the first business day of the next succeeding calendar month. The daily fee accruals for the Fund shall be computed by multiplying the fraction of one divided by the number of days in the calendar year by the applicable annual administration fee rate (as set forth in Schedule A hereto), and multiplying this product by the total assets minus liabilities other than the aggregate indebtedness entered into for purposes of leverage ("“Managed Assets"”) of the Fund, determined in the manner set forth in the Fund's ’s Prospectus, as of the close of business on the last preceding business day on which the Fund's ’s NAV was determined.