Fees and Additional Compensation to Manager and Affiliates. The Managers or their designated affiliate(s) will receive an annual Management Fee of one percent (1%) of the total Capital Contributions (less the allocable portion of Capital Contributions allocated to any Fund Asset subject to a Capital Transaction) until such time as the Fund is liquidated. For the avoidance of doubt, the first day of the month following the day on which a Capital Transaction occurs, the Asset Management Fee will be calculated based on the total Capital Contributions less the allocable portion of capital attributable to the Capital Transaction. The Asset Management Fee shall be paid no more frequently than monthly, at the sole discretion of the Managers.
Fees and Additional Compensation to Manager and Affiliates. The Manager or its designated Affiliates shall receive:
Fees and Additional Compensation to Manager and Affiliates. (a) The Manager or its designated affiliate(s) will receive an Asset Management Fee of one percent (1%) of the total Capital Contributions with respect to each Member (less the allocable portion of Capital Contributions allocated to any Fund Asset subject to a Capital Transaction) beginning as of the Initial Closing until such time as the Fund is liquidated. Notwithstanding the foregoing, the Asset Management Fee payable after the date of admission or increase in the Capital Contribution of any Member subsequent to the Initial Closing shall reflect the Company’s increased Capital Contributions calculated as if such Member had been admitted to the Company as of the Initial Closing with a Capital Contribution equal to each such Member’s Capital Contribution immediately following such admission or increase. For the avoidance of doubt, the first day of the month following the day on which a Capital Transaction occurs, the Asset Management Fee will be calculated based on the total Capital Contributions less the allocable portion of capital attributable to the Capital Transaction. The Asset Management Fee shall be paid no more frequently than monthly, at the sole discretion of the Manager.
