Fund Administration Fee and Other Fund Costs Sample Clauses

Fund Administration Fee and Other Fund Costs. As of each business day, the Manager shall be entitled to an administration fee in respect of each series of a Fund payable by the Fund, equal to a percentage of the Series Net Asset Value, on such day as determined in accordance with the terms of Section 3.4, before taking into account the administration fee for such day. The applicable percentage (which may be zero) shall be set out in the Prospectus or like document of each Fund. If a day is not also a Valuation Day, the Series Net Asset Value as of the most recent Valuation Day shall be used for the purposes of calculating the daily administration fee on such day. The administration fee for a day for each series of the a Fund shall be paid from the assets of the applicable Fund on a Valuation Date not later than five (5) Business Days following the end of the calendar quarter which includes such day or such other date as determined by the Manager in its sole discretion from time to time. The Manager shall pay certain of the operating expenses of a Fund in return for the fixed administration fee described above. Such expenses shall include regulatory filing fees, annual fees, meeting fees and reimbursement for expenses to members of the Independent Review Committee, recordkeeping, accounting and fund valuation costs, custody fees, audit and legal fees and the costs of preparing and distributing annual and semi-annual reports, prospectuses, fund facts, statements and investor communications but shall not include Other Fund Costs. Subject to Applicable Laws, the Manager may increase the rate of its administration fee in respect of a series of a Fund, as set out in the Prospectus or like document pertaining to the Fund, by giving to each Unitholder of Record in that series notice of its intention to do so by ordinary mail, and each such increase shall have effect on a Valuation Day not less than 60 days after such notice has been given. The Manager may, in its discretion from time to time, reimburse a Fund or a series of a Fund, for all or part of the administration fee that would otherwise be paid by the a Fund or series of the Fund pursuant to this Section 8.3. Other Fund Costs incurred in the administration of a Fund or a series of a Fund shall be charged to the Fund or the relevant series. The Manager in its sole discretion shall determine whether Other Fund Costs are Series Expenses or Common Expenses and which expenses are attributable to which series. The Manager shall be entitled to be reimbursed o...
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Related to Fund Administration Fee and Other Fund Costs

  • SETTLEMENT AND OTHER EXPENSES A. The following expenses must be paid at or prior to closing:

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  • Payment of Taxes and Other Expenses Should City, in its discretion, or a relevant taxing authority such as the Internal Revenue Service or the State Employment Development Division, or both, determine that Contractor is an employee for purposes of collection of any employment taxes, the amounts payable under this Agreement shall be reduced by amounts equal to both the employee and employer portions of the tax due (and offsetting any credits for amounts already paid by Contractor which can be applied against this liability). City shall then forward those amounts to the relevant taxing authority. Should a relevant taxing authority determine a liability for past services performed by Contractor for City, upon notification of such fact by City, Contractor shall promptly remit such amount due or arrange with City to have the amount due withheld from future payments to Contractor under this Agreement (again, offsetting any amounts already paid by Contractor which can be applied as a credit against such liability). A determination of employment status pursuant to the preceding two paragraphs shall be solely for the purposes of the particular tax in question, and for all other purposes of this Agreement, Contractor shall not be considered an employee of City. Notwithstanding the foregoing, should any court, arbitrator, or administrative authority determine that Contractor is an employee for any other purpose, then Contractor agrees to a reduction in City’s financial liability so that City’s total expenses under this Agreement are not greater than they would have been had the court, arbitrator, or administrative authority determined that Contractor was not an employee.

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