Common use of Expenses of the Advisor Clause in Contracts

Expenses of the Advisor. The Advisor shall be responsible for the following expenses: 7.1.1 except as set forth in Section 7.2 of this Agreement, employment expenses of the personnel employed by the Advisor (including the executive officers of the Company which are also employed by the Advisor), including, without limitation, salaries, wages, payroll taxes and the cost of employee benefit plans of such personnel; 7.1.2 rent, telephone, utilities, office furniture, equipment, machinery and other office, internal and overhead expenses of the Advisor required for the Company’s day-to-day operations, including bookkeeping, clerical and back-office services provided by the Advisor; provided, however, that the Company shall reimburse the Advisor for the Company’s pro rata portion of such rent, telephone, utilities, office furniture, equipment, machinery and other office, internal and overhead expenses to the extent that the Company’s employees, officers, representatives and/or agents (who are not also employed by the Advisor) use such facilities or incur such expenses; and 7.1.3 unless otherwise approved by the Board of Directors, the cost and expense of the Sub-Advisor, if any.

Expenses of the Advisor. The Advisor shall be responsible for the following expenses: 7.1.1 except as set forth in Section 7.2 of this Agreement, employment expenses of the personnel employed by the Advisor (including the executive officers of the Company which are also employed by the Advisor), including, without limitation, salaries, wages, payroll taxes and the cost of employee benefit plans of such personnel; 7.1.2 rent, telephone, utilities, office furniture, equipment, machinery and other office, internal and overhead expenses of the Advisor required for the Company’s 's day-to-day operations, including bookkeeping, clerical and back-office services provided by the Advisor; , provided, however, that the Company shall reimburse the Advisor for the Company’s 's pro rata portion of such rent, telephone, utilities, office furniture, equipment, machinery and other office, internal and overhead expenses to the extent that the Company’s 's employees, officers, representatives and/or agents (who are not also employed by the Advisor) use such facilities or incur such expenses; and 7.1.3 unless otherwise approved by the Board of Directors, the cost and expense of the Sub-Advisor, if any.

Expenses of the Advisor. The Advisor shall be responsible for the following expenses: 7.1.1 except as set forth in Section 7.2 of this Agreement, employment expenses of the personnel employed by the Advisor (including the executive officers of the Company which are also employed by the Advisor), including, without limitation, salaries, wages, payroll taxes and the cost of employee benefit plans of such personnel; 7.1.2 rent, telephone, utilities, office furniture, equipment, machinery and other office, internal and overhead expenses of the Advisor required for the Company’s day-to-day operations, including bookkeeping, clerical and back-office services provided by the Advisor; , provided, however, that the Company shall reimburse the Advisor for the Company’s pro rata portion of such rent, telephone, utilities, office furniture, equipment, machinery and other office, internal and overhead expenses to the extent that the Company’s employees, officers, representatives and/or agents (who are not also employed by the Advisor) use such facilities or incur such expenses; and 7.1.3 unless otherwise approved by the Board of Directors, the cost and expense of the Sub-Advisor, if any.