Common use of Fees and Expenses Payable by the Manager Clause in Contracts

Fees and Expenses Payable by the Manager. The Company shall not be obligated to pay (except indirectly via the payment of the Management Fee) the routine overhead/administrative expenses of the Company or the Manager relating to maintaining books and records, travel, routine operational accounting (such as tracking capital accounts, determining and distributing Net Portfolio Receipts, routine tax return preparation costs of up to $5,000 per year, and periodic reporting to Members), the establishment and maintenance of the Management Fee Escrow Account, office space, supplies, salaries, general office support and the like (it being the intent that such expenses are to be paid by the Manager out of the Management Fee).

Fees and Expenses Payable by the Manager. The Notwithstanding Section 9.1, the Company shall not be obligated to pay (except indirectly via the payment of the Management Fee) the routine overhead/administrative expenses of the Company or the Manager relating to maintaining books and records, travel, routine operational accounting (such as tracking capital accounts, determining and distributing Net Portfolio Receipts, routine tax return preparation costs of up to $5,000 per year, and periodic reporting to Members), the establishment and maintenance of the Management Fee Escrow Account, office space, supplies, salaries, general office support and the like (it being the intent that such expenses are to be paid by the Manager out of the Management Fee).