Common use of Incentive Fee on Income Clause in Contracts

Incentive Fee on Income. Pre-incentive fee net investment income exceeds the 1.5% quarterly preferred return and the 1.875% upper level breakpoint provision. Therefore the upper level breakpoint provision is fully satisfied by the 0.375% of pre-incentive fee net investment income above the 1.5% preferred return rate and there is a 20% incentive fee on pre-incentive fee net investment income above the 1.875% upper level breakpoint. This ultimately provides a incentive fee which represents 20% of pre-incentive fee net investment income.

Incentive Fee on Income. Pre-incentive fee net investment income exceeds falls between the 1.5% quarterly preferred return rate and the 1.875% upper level breakpoint provision. Therefore the upper level breakpoint provision is fully satisfied by of 1.875%, therefore the 0.375% of pre-incentive fee net investment income above the 1.5% preferred return rate and there is a 20% incentive fee on pre-incentive fee net investment income above the 1.875% upper level breakpoint. This ultimately provides a incentive fee which represents 20is 100% of the pre-incentive fee net investment incomeabove the 1.5% quarterly preferred return.

Incentive Fee on Income. Pre-incentive fee net investment income exceeds falls between the 1.5% quarterly preferred return rate and the 1.875% upper level breakpoint provision. Therefore the upper level breakpoint provision is fully satisfied by of 1.818%, therefore the 0.375% of pre-incentive fee net investment income above the 1.5% preferred return rate and there is a 20% incentive fee on pre-incentive fee net investment income above the 1.875% upper level breakpoint. This ultimately provides a incentive fee which represents 20is 100% of the pre-incentive fee net investment incomeabove the 1.5% quarterly preferred return.

Incentive Fee on Income. Pre-incentive fee net investment income exceeds the 1.5% quarterly preferred return and the 1.8751.818% upper level breakpoint provision. Therefore the upper level breakpoint provision is fully satisfied by the 0.3750.318% of pre-incentive fee net investment income above the 1.5% preferred return rate and there is a 2017.5% incentive fee on pre-incentive fee net investment income above the 1.8751.818% upper level breakpoint. This ultimately provides a an incentive fee which represents 2017.5% of pre-incentive fee net investment income.