Common use of Fund Administration Fee and Other Fund Costs Clause in Contracts

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 out of the property of a Fund in respect of any Other Fund Costs paid by it in the administration of the Fund. The Other Fund Costs relating to the operation of a Fund shall be allocated by the Manager to the series of the Fund as follows:

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 out of the property of a Fund in respect of any Other Fund Costs paid by it in the administration of the Fund. The Other Fund Costs relating to the operation of a Fund shall be allocated by the Manager to the series of the Fund as follows:

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 out of the property of a Fund in respect of any Other Fund Costs paid by it in the administration of the Fund. The Other Fund Costs relating to the operation of a Fund shall be allocated by the Manager to the series of the Fund as follows:.

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 out of the property of a Fund in respect of any Other Fund Costs paid by it in the administration of the Fund. The Other Fund Costs relating to the operation of a Fund shall be allocated by the Manager to the series of the Fund as follows:.