Common use of Incentive Fee Clause in Contracts

Incentive Fee. The Incentive Fee shall consist of two parts, as follows: (i) The first part, referred to as the “Subordinated Incentive Fee on Income,” shall be calculated and payable quarterly in arrears based on the Company’s “Pre-Incentive Fee Net Investment Income” for the immediately preceding quarter. The payment of the Subordinated Incentive Fee on Income shall be subject to payment of a preferred return to investors each quarter, expressed as a quarterly rate of return on Adjusted Capital (as defined below) at the beginning of the most recently completed calendar quarter, of 2.0% (8.0% annualized), subject to a “catch up” feature (as described below).

Incentive Fee. The Incentive Fee shall consist of two parts, as follows: (i) The first partpart of the Incentive Fee, referred to as the “Subordinated Incentive Fee on Income,” shall be calculated and payable quarterly in arrears based on the Company’s “Pre-Incentive Fee Net Investment Income” for the immediately preceding quarter. The payment of the Subordinated Incentive Fee on Income shall be subject to payment of a preferred return to investors each quarter, quarterly hurdle rate expressed as a quarterly rate of return on Adjusted Capital (as defined below) the value of the Company’s net assets at the beginning end of the most recently completed calendar quarter, of 2.01.75% (8.07.0% annualized) (the “Hurdle Rate”), subject to a “catch up” feature (as described below).

Incentive Fee. The Incentive Fee shall consist of two parts, as follows: (i) The first part, referred to as the “Subordinated Incentive Fee on Income,” shall be calculated and payable quarterly in arrears based on the CompanyCorporation’s “Pre-Incentive Fee Net Investment Income” for the immediately preceding quarter. The payment of the Subordinated Incentive Fee on Income shall be subject to payment of a preferred return to investors each quarter, expressed as a quarterly rate of return on the average Adjusted Capital (as defined below) at the beginning of for the most recently completed calendar quarter, of 2.01.875% (8.07.5% annualized), subject to a “catch up” feature (as described below).

Incentive Fee. The Incentive Fee shall consist of two parts, as follows: (i) The first part, referred to as the “Subordinated Incentive Fee on Income,” shall be calculated and payable quarterly in arrears based on the CompanyCorporation’s “Pre-Incentive Fee Net Investment Income” for the immediately preceding quarter. The payment of the Subordinated Incentive Fee on Income shall be subject to payment of a preferred return to investors each quarter, expressed as a quarterly rate of return on the average Adjusted Capital (as defined below) at the beginning of for the most recently completed calendar quarter, of 2.01.75% (8.07.0% annualized), subject to a “catch up” feature (as described below).

Incentive Fee. The Incentive Fee shall consist of two parts, as follows: (i) The first partpart of the Incentive Fee, referred to as the “Subordinated Incentive Fee on Income,” shall be calculated and payable quarterly in arrears based on the CompanyCorporation’s “Pre-Incentive Fee Net Investment Income” for the immediately preceding quarter. The payment of the Subordinated Incentive Fee on Income shall be subject to payment of a preferred return to investors each quarterquarterly hurdle rate, expressed as a quarterly rate of return on the average Adjusted Capital (as defined below) at the beginning of for the most recently completed calendar quarter, of 2.01.75% (8.07.0% annualized) (the “Hurdle Rate”), subject to a “catch up” feature (as described below).

Incentive Fee. The Incentive Fee shall consist of two three parts, as follows: (i) The first part, referred to as the “Subordinated Incentive Fee on Income,” shall be calculated and payable quarterly in arrears based on the CompanyFund’s “Pre-Incentive Fee Net Investment Income” for the immediately preceding quarter. The payment of the Subordinated Incentive Fee on Income shall be subject to payment of a preferred return to investors each quarter, expressed as a quarterly rate of return on Adjusted Capital (as defined below) at the beginning of the most recently completed calendar quarter, of 2.01.625% (8.06.5% annualized), subject to a “catch up” feature (as described below).

Incentive Fee. The Incentive Fee shall consist of two parts, as follows: (i) The first part, referred to as the “Subordinated Incentive Fee on Income,” shall be calculated and payable quarterly in arrears based on the CompanyCorporation’s “Pre-Incentive Fee Net Investment Income” for the immediately preceding quarter. The payment of the Subordinated Incentive Fee on Income shall be subject to payment of a preferred return to investors each quarter, expressed as a quarterly rate of return on Adjusted Capital (as defined below) at the beginning of the most recently completed calendar quarter, of 2.01.875% (8.07.5% annualized), subject to a “catch up” feature (as described below).

Incentive Fee. The Incentive Fee shall consist of two parts, as follows: (i) The first part, referred to as the “Subordinated Incentive Fee on Income,” shall be calculated and payable quarterly in arrears based on the Company’s “Pre-Incentive Fee Net Investment Income” for the immediately preceding quarter. The payment of the Subordinated Incentive Fee on Income shall be subject to payment of a preferred return to investors each quarter, expressed as a quarterly rate of return on the average Adjusted Capital (as defined below) at the beginning of for the most recently completed calendar quarter, of 2.01.625% (8.06.5% annualized), subject to a “catch up” feature (as described below).

Incentive Fee. The Incentive Fee shall consist of two parts, as follows: (i) The first part, referred to as the “Subordinated Incentive Fee on Income,” shall be calculated and payable quarterly in arrears based on the CompanyCorporation’s “Pre-Incentive Fee Net Investment Income” for the immediately preceding quarter. The payment of the Subordinated Incentive Fee on Income shall be subject to payment of a preferred return to investors each quarter, expressed as a quarterly rate of return on the average Adjusted Capital (as defined below) at the beginning of for the most recently completed calendar quarter, of 2.01.375% (8.05.5% annualized), subject to a “catch up” feature (as described below).

Incentive Fee. The Incentive Fee shall consist of two parts, as follows: (i) The first partpart of the Incentive Fee, referred to as the “Subordinated Incentive Fee on Income,” shall be calculated and payable quarterly in arrears based on the CompanyCorporation’s “Pre-Incentive Fee Net Investment Income” for the immediately preceding quarter. The payment of the Subordinated Incentive Fee on Income shall be subject to payment of a preferred return to investors each quarterquarterly hurdle rate, expressed as a quarterly rate of return on the average Adjusted Capital (as defined below) at the beginning of for the most recently completed calendar quarter, of 2.01.875% (8.07.5% annualized), subject to a “catch up” feature (as described below).

Incentive Fee. The Incentive Fee shall consist of two parts, as follows: (i) The first partpart of the Incentive Fee, referred to as the “Subordinated Incentive Fee on Income,” shall be calculated and payable quarterly in arrears based on the CompanyCorporation’s “Pre-Incentive Fee Net Investment Income” for the immediately preceding quarter. The payment of the Subordinated Incentive Fee on Income shall be subject to payment of a preferred return to investors each quarterquarterly hurdle rate, expressed as a quarterly rate of return on Adjusted Capital (as defined below) at the beginning of the most recently completed calendar quarter, of 2.01.75% (8.07.0% annualized) (the “Hurdle Rate”), subject to a “catch up” feature (as described below).

Incentive Fee. The Incentive Fee shall consist of two parts, as follows: (i) The first part, referred to as the “Subordinated Incentive Fee on Income,” shall be calculated and payable quarterly in arrears based on the Company’s “Pre-Incentive Fee Net Investment Income” for the immediately preceding quarter. The payment of the Subordinated Incentive Fee on Income shall be subject to payment of a preferred return to investors each quarter, expressed as a quarterly rate of return on Adjusted Capital (as defined below) the value of the Company’s net assets at the beginning end of the most recently completed calendar quarter, of 2.02.00% (8.08.00% annualized), subject to a “catch up” feature (as described below).

Incentive Fee. The Incentive Fee shall consist of two parts, as follows: (i) The first partpart of the Incentive Fee, referred to as the “Subordinated Incentive Fee on Income,” shall be calculated and payable quarterly in arrears based on the Company’s “Pre-Incentive Fee Net Investment Income” for the immediately preceding quarter. The payment of the Subordinated Incentive Fee on Income shall be subject to payment of a preferred return to investors each quarterquarterly hurdle rate, expressed as a quarterly rate of return on the average Adjusted Capital (as defined below) at the beginning of for the most recently completed calendar quarter, of 2.01.625% (8.06.5% annualized), subject to a “catch up” feature (as described below).

Incentive Fee. The Incentive Fee shall consist of two parts, as follows: (i) The first part, referred to as the “Subordinated Incentive Fee on Income,” shall be calculated and payable quarterly in arrears based on the Company’s “Pre-Incentive Fee Net Investment Income” for the immediately preceding quarter. The payment of the Subordinated Incentive Fee on Income shall be subject to payment of a preferred return to investors each quarter, expressed as a quarterly rate of return on Adjusted Capital (as defined below) at the beginning of the most recently completed calendar quarter, of 2.01.706% (8.07.0% annualizedannualized based on a 360-day calendar year), subject to a “catch up” feature (as described below).

Incentive Fee. The Incentive Fee shall consist of two parts, as follows: (i) The first partpart of the Incentive Fee, referred to as the “Subordinated Incentive Fee on Income,” shall be calculated and payable quarterly in arrears based on the CompanyFund’s “Pre-Incentive Fee Net Investment Income” for the immediately preceding quarter. The payment of the Subordinated Incentive Fee on Income shall be subject to payment of a preferred return to investors each quarterquarterly hurdle rate, expressed as a quarterly rate of return on Adjusted Capital (as defined below) at the beginning of the most recently completed calendar quarter, of 2.01.625% (8.06.5% annualized) (the “Hurdle Rate”), subject to a “catch up” feature (as described below).

Incentive Fee. The Incentive Fee shall consist of two three parts, as follows: (i) The first part, referred to as the “Subordinated Incentive Fee on Income,” shall be calculated and payable quarterly in arrears based on the Company’s “Pre-Incentive Fee Net Investment Income” for the immediately preceding quarter. The payment of the Subordinated Incentive Fee on Income shall be subject to payment of a preferred return to investors each quarter, expressed as a quarterly rate of return on Adjusted Capital (as defined below) at the beginning of the most recently completed calendar quarter, of 2.02.00% (8.08.00% annualized), subject to a “catch up” feature (as described below).

Incentive Fee. The Incentive Fee shall consist of two parts, as follows: (i) The first part, referred to as the “Subordinated Incentive Fee on Income,” shall be calculated and payable quarterly in arrears based on the Company’s “Pre-Incentive Fee Net Investment Income” for the immediately preceding quarter. The payment of the Subordinated Incentive Fee on Income shall be subject to payment of a preferred return to investors each quarter, expressed as a quarterly rate of return on Adjusted Capital (as defined below) the value of the Company’s net assets at the beginning end of the most recently completed calendar quarter, of 2.01.875% (8.07.50% annualized), subject to a “catch up” feature (as described below).

Incentive Fee. The Incentive Fee shall consist of two three parts, as follows: (i) The first part, referred to as the “Subordinated Incentive Fee on Income,” shall be calculated and payable quarterly in arrears based on the Company’s “Pre-Incentive Fee Net Investment Income” for the immediately preceding quarter. The payment of the Subordinated Incentive Fee on Income shall be subject to payment of a preferred return to investors each quarter, expressed as a quarterly rate of return on Adjusted Capital (as defined below) at the beginning of the most recently completed calendar quarter, of 2.01.75% (8.07.00% annualized), subject to a “catch up” feature (as described below).

Incentive Fee. The Incentive Fee shall consist of two parts, as follows: (i) The first part, referred to as the “"Subordinated Incentive Fee on Income,” " shall be calculated and payable quarterly in arrears based on the Company’s “Fund's "Pre-Incentive Fee Net Investment Income” " for the immediately preceding quarter. The payment of the Subordinated Incentive Fee on Income shall be subject to payment of a preferred return to investors each quarter, expressed as a quarterly rate of return on Adjusted Capital (as defined below) at the beginning of the most recently completed calendar quarter, of 2.01.625% (8.06.5% annualized), subject to a “"catch up” " feature (as described below).