Common use of Expenses of the Administrator Clause in Contracts

Expenses of the Administrator. The Administrator assumes and shall pay for maintaining the staff and personnel necessary to perform its obligations under this Agreement, and shall at its own expense, provide office space, facilities, equipment and necessary personnel which it is obligated to provide under paragraph 1 hereof, except that the Company shall pay reasonable travel expenses of persons who perform administrative, clerical and bookkeeping functions on behalf of the Company. The Company and the Investment Adviser assume and shall pay or cause to be paid all other expenses of the Company and each Fund as set forth in the Investment Agreement. The expenses of legal counsel and accounting experts retained by the Administrator, after consulting with the Company's counsel and independent auditors, as may be necessary or appropriate for the Administrator's performance of its duties and responsibilities under this Agreement are deemed expenses of, and shall be paid by, the Company.