Common use of Financial Warranty Fee Clause in Contracts

Financial Warranty Fee. In consideration of the issuance by the Warranty Provider of the Financial Warranty, the Fund shall pay to the Warranty Provider a fee in an amount equal to (a) prior to the occurrence of a Permanent Defeasance Event, 0.80% per annum of the average daily Net Assets of the Fund during each calendar month in the Protected Period or (b) following the occurrence of a Permanent Defeasance Event, 0.40% per annum of the average daily Net Assets of the Fund during each calendar month in the Protected Period (collectively, the "Financial Warranty Fee"), in each case, payable monthly in arrears on the last Business Day of the following calendar month (each a "Fee Payment Date"); provided that, for the purposes of calculating the Financial Warranty Fee, the Net Assets shall be determined without taking into account any indemnification claim made by the Warranty Provider against the Fund pursuant to the terms of this Agreement. The Financial Warranty Fee payable on each Fee Payment Date will be calculated based on a 360 day year for the actual number of days elapsed. The obligation to pay the Financial Warranty Fee that has accrued hereunder shall survive termination of this Agreement to the extent not paid in full prior to such termination.

Financial Warranty Fee. In consideration of the issuance by the Warranty Provider of the Financial Warranty, the Fund shall pay to the Warranty Provider a fee in an amount equal to (a) prior to the occurrence of a Permanent Defeasance Event, 0.80% per annum of the average daily Net Assets of the Fund during each calendar month in the Protected Period or (b) following the occurrence of a Permanent Defeasance Event, 0.40% per annum of the average daily Net Assets of the Fund during each calendar month in the Protected Period (collectively, the "Financial Warranty Fee"), in each case, payable monthly in arrears on the last fifth Business Day of the following calendar month (each a "Fee Payment Date"); provided that, for the purposes of calculating the Financial Warranty Fee, the Net Assets shall be determined without taking into account any indemnification claim made by the Warranty Provider against the Fund pursuant to the terms of this Agreement. The Financial Warranty Fee payable on each Fee Payment Date will be calculated based on a 360 day year for the actual number of days elapsed. The obligation to pay the Financial Warranty Fee that has accrued hereunder shall survive termination of this Agreement to the extent not paid in full prior to such termination.