Investment Advisory Fee. (a) The Portfolio shall pay to the Adviser, and the Adviser agrees to accept, as full compensation for all investment and advisory services furnished or provided to the Portfolio pursuant to this Agreement, an annual investment advisory fee at the rate set forth in Schedule A to this Agreement. (b) The investment advisory fee shall be accrued daily by the Portfolio and paid to the Adviser on the first business day of the succeeding month. (c) The initial fee under this Agreement shall be payable on the first business day of the first month following the effective date of this Agreement and shall be prorated as set forth below. If this Agreement is terminated prior to the end of any month, the fee to the Adviser shall be prorated for the portion of any month in which this Agreement is in effect which is not a complete month according to the proportion which the number of calendar days in the month during which the Agreement is in effect bears to the number of calendar days in the month, and shall be payable within ten (10) days after the date of termination. (d) The fee payable to the Adviser under this Agreement will be reduced to the extent of any receivable owed by the Adviser to the Portfolio and as required under any expense limitation applicable to the Portfolio. (e) The Adviser voluntarily may reduce any portion of the compensation or reimbursement of expenses due to it pursuant to this Agreement and may agree to make payments to limit the expenses which are the responsibility of the Portfolio under this Agreement. Any such reduction or payment shall be applicable only to such specific reduction or payment and shall not constitute an agreement to reduce any future compensation or reimbursement due to the Adviser hereunder or to continue future payments. Any such reduction will be agreed to prior to accrual of the related expense or fee and will be estimated daily and reconciled and paid on a monthly basis. (f) Any fee withheld or voluntarily reduced and any Portfolio expense absorbed by the Adviser voluntarily or pursuant to an agreed upon expense cap shall be reimbursed by the Portfolio to the Adviser, if so requested by the Adviser, no later than the third fiscal year succeeding the fiscal year of the withholding, reduction or absorption if the aggregate amount actually paid by the Portfolio toward the operating expenses for such fiscal year (taking into account the reimbursement) do not exceed the applicable limitation on Portfolio expenses. Such reimbursement may not be paid to the Adviser for any fiscal year prior to the Portfolio’s payment of such year’s current expenses if such practice would require the Adviser to waive, reduce or absorb current Portfolio expenses in excess of the expense limitation in effect at the time the unreimbursed expense was actually incurred. (g) The Adviser may agree not to require payment of any portion of the compensation or reimbursement of expenses otherwise due to it pursuant to this Agreement. Any such agreement shall be applicable only with respect to the specific items covered thereby and shall not constitute an agreement not to require payment of any future compensation or reimbursement due to the Adviser hereunder.
Appears in 5 contracts
Samples: Investment Advisory Agreement (Kinetics Portfolios Trust), Investment Advisory Agreement (Kinetics Portfolios Trust), Investment Advisory Agreement (Kinetics Portfolios Trust)
Investment Advisory Fee. (a) The Portfolio Fund shall pay to the Adviser, and the Adviser agrees to accept, as full compensation for all investment and advisory services furnished or provided to the Portfolio Fund pursuant to this Agreement, an annual investment advisory fee at the rate set forth in Schedule A to this Agreement.
(b) The investment advisory fee shall be accrued daily by the Portfolio Fund and paid to the Adviser on the first business day of the succeeding month.
(c) The initial fee under this Agreement shall be payable on the first business day of the first month following the effective date of this Agreement and shall be prorated as set forth below. If this Agreement is terminated prior to the end of any month, the fee to the Adviser shall be prorated for the portion of any month in which this Agreement is in effect which is not a complete month according to the proportion which the number of calendar days in the month during which the Agreement is in effect bears to the number of calendar days in the month, and shall be payable within ten (10) days after the date of termination.
(d) The fee payable to the Adviser under this Agreement will be reduced to the extent of any receivable owed by the Adviser to the Portfolio and as required under any expense limitation applicable to the PortfolioFund.
(e) The Adviser voluntarily may reduce any portion of the compensation or reimbursement of expenses due to it pursuant to this Agreement and may agree to make payments to limit the expenses which are the responsibility of the Portfolio Fund under this Agreement. Any such reduction or payment shall be applicable only to such specific reduction or payment and shall not constitute an agreement to reduce any future compensation or reimbursement due to the Adviser hereunder or to continue future payments. Any such reduction will be agreed to prior to accrual of the related expense or fee and will be estimated daily and reconciled and paid on a monthly basis.
(f) Any fee withheld or voluntarily reduced and any Portfolio Fund expense absorbed by the Adviser voluntarily or pursuant to an agreed upon expense cap shall be reimbursed by the Portfolio Fund to the Adviser, if so requested by the Adviser, no later than the third fiscal year THAN THE THIRD FISCAL YEAR succeeding the fiscal year of the withholding, reduction or absorption if the aggregate amount actually paid by the Portfolio Fund toward the operating expenses for such fiscal year (taking into account the reimbursement) do does not exceed the applicable limitation on Portfolio Fund expenses. Such reimbursement may not be paid to the Adviser for any fiscal year prior to the Portfolio’s Fund's payment of such year’s current expenses if so requested by the Adviser even if such practice would may require the Adviser to waive, reduce or absorb current Portfolio expenses in excess of the expense limitation in effect at the time the unreimbursed expense was actually incurredFund expenses.
(g) The Adviser may agree not to require payment of any portion of the compensation or reimbursement of expenses otherwise due to it pursuant to this Agreement. Any such agreement shall be applicable only with respect to the specific items covered thereby and shall not constitute an agreement not to require payment of any future compensation or reimbursement due to the Adviser hereunder.
Appears in 4 contracts
Samples: Investment Advisory Agreement (Azzad Funds), Investment Advisory Agreement (Azzad Funds), Investment Advisory Agreement (Azzad Funds)
Investment Advisory Fee. (a) The Portfolio Fund shall pay to the Adviser, and the Adviser agrees to accept, as full compensation for all investment and advisory services furnished or provided to the Portfolio Fund pursuant to this Agreement, an annual investment advisory fee at the rate set forth in Schedule A to this Agreement.
(b) The investment advisory fee shall be accrued daily by the Portfolio Fund and paid to the Adviser on the first business day of the succeeding month.
(c) The initial fee under this Agreement shall be payable on the first business day of the first month following the effective date of this Agreement and shall be prorated as set forth below. If this Agreement is terminated prior to the end of any month, the fee to the Adviser shall be prorated for the portion of any month in which this Agreement is in effect which is not a complete month according to the proportion which the number of calendar days in the month during which the Agreement is in effect bears to the number of calendar days in the month, and shall be payable within ten (10) days after the date of termination.
(d) The fee payable to the Adviser under this Agreement will be reduced to the extent of any receivable owed by the Adviser to the Portfolio Fund and as required under any expense limitation applicable to the PortfolioFund.
(e) The Adviser voluntarily may reduce any portion of the compensation or reimbursement of expenses due to it pursuant to this Agreement and may agree to make payments to limit the expenses which are the responsibility of the Portfolio Fund under this Agreement. Any such reduction or payment shall be applicable only to such specific reduction or payment and shall not constitute an agreement to reduce any future compensation or reimbursement due to the Adviser hereunder or to continue future payments. Any such reduction will be agreed to prior to accrual of the related expense or fee and will be estimated daily and reconciled and paid on a monthly basis.
(f) Any fee withheld or voluntarily reduced and any Portfolio Fund expense absorbed by the Adviser voluntarily or pursuant to an agreed upon expense cap shall be reimbursed by the Portfolio Fund to the Adviser, if so requested by the Adviser, no later than the third fiscal year succeeding the fiscal year of the withholding, reduction or absorption if the aggregate amount actually paid by the Portfolio Fund toward the operating expenses for such fiscal year (taking into account the reimbursement) do not exceed the applicable limitation on Portfolio Fund expenses. Such reimbursement may not be paid to the Adviser for any fiscal year prior to the PortfolioFund’s payment of such year’s current expenses if such practice would require the Adviser to waive, reduce or absorb current Portfolio Fund expenses in excess of the expense limitation in effect at the time the unreimbursed expense was actually incurred.
(g) The Adviser may agree not to require payment of any portion of the compensation or reimbursement of expenses otherwise due to it pursuant to this Agreement. Any such agreement shall be applicable only with respect to the specific items covered thereby and shall not constitute an agreement not to require payment of any future compensation or reimbursement due to the Adviser hereunder.
Appears in 3 contracts
Samples: Investment Advisory Agreement (Kinetics Mutual Funds Inc), Investment Advisory Agreement (Kinetics Mutual Funds Inc), Investment Advisory Agreement (Kinetics Mutual Funds Inc)
Investment Advisory Fee. (a) The Portfolio shall pay to the Adviser, and the Adviser agrees to accept, as full compensation for all investment and advisory services furnished or provided to the Portfolio pursuant to this Agreement, an annual investment advisory fee at the rate set forth in Schedule A to this Agreement.
(b) The investment advisory fee shall be accrued daily by the Portfolio and paid to the Adviser on the first business day of the succeeding month.
(c) The initial fee under this Agreement shall be payable on the first business day of the first month following the effective date of this Agreement and shall be prorated as set forth below. If this Agreement is terminated prior to the end of any month, the fee to the Adviser shall be prorated for the portion of any month in which this Agreement is in effect which is not a complete month according to the proportion which the number of calendar days in the month during which the Agreement is in effect bears to the number of calendar days in the month, and shall be payable within ten (10) days after the date of termination.
(d) The fee payable to the Adviser under this Agreement will be reduced to the extent of any receivable owed by the Adviser to the Portfolio and as required under any expense limitation applicable to the Portfolio.
(e) The Adviser voluntarily may reduce any portion of the compensation or reimbursement of expenses due to it pursuant to this Agreement and may agree to make payments to limit the expenses which are the responsibility of the Portfolio under this Agreement. Any such reduction or payment shall be applicable only to such specific reduction or payment and shall not constitute an agreement to reduce any future compensation or reimbursement due to the Adviser hereunder or to continue future payments. Any such reduction will be agreed to prior to accrual of the related expense or fee and will be estimated daily and reconciled and paid on a monthly basis.
(f) Any fee withheld or voluntarily reduced and any Portfolio expense absorbed by the Adviser voluntarily or pursuant to an agreed upon expense cap shall be reimbursed by the Portfolio to the Adviser, if so requested by the Adviser, no later than the third fifth fiscal year succeeding the fiscal year of the withholding, reduction or absorption if the aggregate amount actually paid by the Portfolio toward the operating expenses for such fiscal year (taking into account the reimbursement) do not exceed the applicable limitation on Portfolio expenses. Such reimbursement may not be paid to the Adviser for any fiscal year prior to the Portfolio’s 's payment of such year’s current expenses if so requested by the Adviser even if such practice would may require the Adviser to waive, reduce or absorb current Portfolio expenses in excess of the expense limitation in effect at the time the unreimbursed expense was actually incurredexpenses. Replaced with attached addendum on March 29, 2001.
(g) The Adviser may agree not to require payment of any portion of the compensation or reimbursement of expenses otherwise due to it pursuant to this Agreement. Any such agreement shall be applicable only with respect to the specific items covered thereby and shall not constitute an agreement not to require payment of any future compensation or reimbursement due to the Adviser hereunder.
Appears in 3 contracts
Samples: Investment Advisory Agreement (Kinetics Portfolios Trust), Investment Advisory Agreement (Kinetics Portfolios Trust), Investment Advisory Agreement (Kinetics Portfolios Trust)
Investment Advisory Fee. (a) The Portfolio Fund shall pay to the AdviserAdvisor, and the Adviser Advisor agrees to accept, as full compensation for all investment management and advisory services furnished or provided to the Portfolio Fund pursuant to this Agreement, an annual investment advisory management fee at the annual rate set forth in Schedule A to this Agreementof 1.00%.
(b) The investment advisory management fee shall be accrued daily by the Portfolio Fund and paid to the Adviser Advisor on the first business day of the succeeding month.
(c) The initial fee under this Agreement shall be payable on the first business day of the first month following the effective date of this Agreement and shall be prorated as set forth below. If this Agreement is terminated prior to the end of any month, the fee to the Adviser Advisor shall be prorated for the portion of any month in which this Agreement is in effect which is not a complete month according to the proportion which the number of calendar days in the month during which the Agreement is in effect bears to the number of calendar days in the month, and shall be payable within ten (10) days after the date of termination.
(d) The fee payable to the Adviser Advisor under this Agreement will be reduced to the extent of any receivable amount owed by the Adviser Advisor to the Portfolio Fund and as required under any expense limitation applicable to the PortfolioFund.
(e) The Adviser Advisor voluntarily may reduce any portion of the compensation or reimbursement of expenses due to it pursuant to this Agreement and may agree to make payments to limit the expenses expenses, which are the responsibility of the Portfolio Fund under this Agreement. Any such reduction or payment shall be applicable only to such specific reduction or payment and shall not constitute an agreement to reduce any future compensation or reimbursement due to the Adviser Advisor hereunder or to continue future payments. Any such reduction will be agreed to prior to accrual of the related expense or fee and will be estimated daily and reconciled and paid on a monthly basis.
(f) Any fee withheld or voluntarily reduced and and/or any Portfolio Fund expense absorbed by the Adviser Advisor voluntarily or pursuant to an agreed upon expense cap (collectively "subsidies") shall be reimbursed by the Portfolio Fund to the AdviserAdvisor, if so requested by the AdviserAdvisor, no later than any time before the end of the third fiscal year succeeding following the fiscal year of to which the withholdingsubsidy relates, reduction or absorption if provided the aggregate amount actually paid by of the Portfolio toward the Fund's current operating expenses for such fiscal year (taking into account the reimbursement) do does not exceed the applicable limitation on Portfolio Fund expenses. Such In the case of a new Fund, subsidies incurred by the Advisor in the Fund's first three years of operation remain eligible for reimbursement may not be paid for an extended number of years, as follows: subsidies incurred in the first and second years of the Fund's operation are eligible for reimbursement through the end of the Fund's sixth fiscal year; subsidies incurred by the Advisor in the third year of operation are eligible for reimbursement through the end of the seventh fiscal year. The Fund must pay its current ordinary operating expenses before the Advisor is entitled to the Adviser for any fiscal year reimbursement of fees and/or expenses. Any such reimbursement is also contingent upon Board of Trustees review and approval prior to the Portfolio’s payment of such year’s current expenses if such practice would require the Adviser to waive, reduce or absorb current Portfolio expenses in excess of the expense limitation in effect at the time the unreimbursed expense was actually incurredreimbursement is initiated.
(g) The Adviser Advisor may agree not to require payment of any portion of the compensation or reimbursement of expenses otherwise due to it pursuant to this Agreement. Any such agreement shall be applicable only with respect to the specific items covered thereby and shall not constitute an agreement not to require payment of any future compensation or reimbursement due to the Adviser Advisor hereunder.
Appears in 2 contracts
Samples: Investment Advisory Agreement (Kit Cole Investment Trust), Investment Advisory Agreement (Kit Cole Investment Trust)
Investment Advisory Fee. (a) The Portfolio Fund shall pay to the Adviser, and the Adviser agrees to accept, as full compensation for all investment and advisory services furnished or provided to the Portfolio Fund pursuant to this Agreement, an annual investment advisory fee at equal to 1.0% of the rate set forth in Schedule A to this AgreementFund's average daily net assets.
(b) The investment advisory fee shall be accrued daily by the Portfolio Fund and paid to the Adviser on the first business day of the succeeding month.
(c) The initial fee under this Agreement shall be payable on the first business day of the first month following the effective date of this Agreement and shall be prorated as set forth below. If this Agreement is terminated prior to the end of any month, the fee to the Adviser shall be prorated for the portion of any month in which this Agreement is in effect which is not a complete month according to the proportion which the number of calendar days in the month during which the Agreement is in effect bears to the number of calendar days in the month, and shall be payable within ten (10) days after the date of termination.
(d) The fee payable to the Adviser under this Agreement will be reduced to the extent of any receivable owed by the Adviser to the Portfolio and as required under any expense limitation applicable to the PortfolioFund.
(e) The Adviser voluntarily may reduce any portion of the compensation or reimbursement of expenses due to it pursuant to this Agreement and may agree to make payments to limit the expenses which are the responsibility of the Portfolio Fund under this Agreement. Any such reduction or payment shall be applicable only to such specific reduction or payment and shall not constitute an agreement to reduce any future compensation or reimbursement due to the Adviser hereunder or to continue future payments. Any such reduction will be agreed to prior to accrual of the related expense or fee and will be estimated daily and reconciled and paid on a monthly basis.
(f) Any fee withheld or voluntarily reduced and any Portfolio Fund expense absorbed by the Adviser voluntarily or pursuant to an agreed upon expense cap shall be reimbursed by the Portfolio Fund to the Adviser, if so requested by the Adviser, no later than the third fiscal year THAN THE THIRD FISCAL YEAR succeeding the fiscal year of the withholding, reduction or absorption if the aggregate amount actually paid by the Portfolio Fund toward the operating expenses for such fiscal year (taking into account the reimbursement) do does not exceed the applicable limitation on Portfolio Fund expenses. Such reimbursement may not be paid to the Adviser for any fiscal year prior to the Portfolio’s Fund's payment of such year’s current expenses if so requested by the Adviser even if such practice would may require the Adviser to waive, reduce or absorb current Portfolio expenses in excess of the expense limitation in effect at the time the unreimbursed expense was actually incurredFund expenses.
(g) The Adviser may agree not to require payment of any portion of the compensation or reimbursement of expenses otherwise due to it pursuant to this Agreement. Any such agreement shall be applicable only with respect to the specific items covered thereby and shall not constitute an agreement not to require payment of any future compensation or reimbursement due to the Adviser hereunder.
Appears in 2 contracts
Samples: Investment Advisory Agreement (Azzad Funds), Investment Advisory Agreement (Azzad Funds)
Investment Advisory Fee. (a) The Portfolio Fund shall pay to the Adviser, and the Adviser agrees to accept, as full compensation for all investment and advisory services furnished or provided to the Portfolio Fund pursuant to this Agreement, an annual investment advisory fee at the rate set forth in Schedule A to this Agreement.
(b) The investment advisory fee shall be accrued daily by the Portfolio Fund and paid to the Adviser on the first business day of the succeeding month.
(c) The initial fee under this Agreement shall be payable on the first business day of the first month following the effective date of this Agreement and shall be prorated as set forth below. If this Agreement is terminated prior to the end of any month, the fee to the Adviser shall be prorated for the portion of any month in which this Agreement is in effect which is not a complete month according to the proportion which the number of calendar days in the month during which the Agreement is in effect bears to the number of calendar days in the month, and shall be payable within ten (10) days after the date of termination.
(d) The fee payable to the Adviser under this Agreement will be reduced to the extent of any receivable owed by the Adviser to the Portfolio and as required under any expense limitation applicable to the PortfolioFund.
(e) The Adviser voluntarily may reduce any portion of the compensation or reimbursement of expenses due to it pursuant to this Agreement and may agree to make payments to limit the expenses which are the responsibility of the Portfolio Fund under this Agreement. Any such reduction or payment shall be applicable only to such specific reduction or payment and shall not constitute an agreement to reduce any future compensation or reimbursement due to the Adviser hereunder or to continue future payments. Any such reduction will be agreed to prior to accrual of the related expense or fee and will be estimated daily and reconciled and paid on a monthly basis.
(f) Any fee withheld or voluntarily reduced and any Portfolio Fund expense absorbed by the Adviser voluntarily or pursuant to an agreed upon expense cap shall be reimbursed by the Portfolio Fund to the Adviser, if so requested by the Adviser, no later than the third fiscal year THAN THE FIFTH FISCAL YEAR succeeding the fiscal year of the withholding, reduction or absorption if the aggregate amount actually paid by the Portfolio Fund toward the operating expenses for such fiscal year (taking into account the reimbursement) do does not exceed the applicable limitation on Portfolio Fund expenses. Such reimbursement may not be paid to the Adviser for any fiscal year prior to the Portfolio’s Fund's payment of such year’s current expenses if so requested by the Adviser even if such practice would may require the Adviser to waive, reduce or absorb current Portfolio expenses in excess of the expense limitation in effect at the time the unreimbursed expense was actually incurredFund expenses.
(g) The Adviser may agree not to require payment of any portion of the compensation or reimbursement of expenses otherwise due to it pursuant to this Agreement. Any such agreement shall be applicable only with respect to the specific items covered thereby and shall not constitute an agreement not to require payment of any future compensation or reimbursement due to the Adviser hereunder.
Appears in 2 contracts
Samples: Investment Advisory Agreement (Questar Funds Inc), Investment Advisory Agreement (Questar Funds Inc)
Investment Advisory Fee. (a) The Portfolio Each Fund shall pay to the AdviserAdvisor, and the Adviser Advisor agrees to accept, as full compensation for all investment advisory and advisory management services furnished or provided to the Portfolio such Fund pursuant to this Agreement, an annual investment advisory fee at the rate as set forth in the Fee Schedule A attached hereto as Appendix B, as may be amended in writing from time to this Agreementtime by the Trust and the Advisor.
(b) The investment advisory fee shall be computed on the value of the net assets of each Fund as of the close of business each day. The advisory fee shall be accrued daily by the Portfolio each Fund and paid to the Adviser Advisor on the first business day of the succeeding month.
(c) The initial fee under this Agreement shall be payable on the first business day of the first month following the effective date of this Agreement and shall be prorated as set forth below. If this Agreement is terminated prior to the end of any month, the fee to the Adviser Advisor shall be prorated for the portion of any month in which this Agreement is in effect which is not a complete month according to the proportion which the number of calendar days in the month during which the Agreement is in effect bears to the number of calendar days in the month, and shall be payable within ten (10) days after the date of termination.
(d) The fee payable to the Adviser Advisor under this Agreement will be reduced to the extent of any receivable owed by the Adviser Advisor to the Portfolio Funds and as required under any expense limitation applicable to the PortfolioFunds.
(e) The Adviser voluntarily may reduce any portion of the compensation or reimbursement of expenses due to it pursuant to this Agreement and may agree to make payments to limit the expenses which are the responsibility of the Portfolio under this Agreement. Any such reduction or payment shall be applicable only to such specific reduction or payment and shall not constitute an agreement to reduce any future compensation or reimbursement due to the Adviser hereunder or to continue future payments. Any such reduction will be agreed to prior to accrual of the related expense or fee and will be estimated daily and reconciled and paid on a monthly basis.
(f) Any fee withheld or voluntarily reduced and any Portfolio expense absorbed by the Adviser voluntarily or pursuant to an agreed upon expense cap shall be reimbursed by the Portfolio to the Adviser, if so requested by the Adviser, no later than the third fiscal year succeeding the fiscal year of the withholding, reduction or absorption if the aggregate amount actually paid by the Portfolio toward the operating expenses for such fiscal year (taking into account the reimbursement) do not exceed the applicable limitation on Portfolio expenses. Such reimbursement may not be paid to the Adviser for any fiscal year prior to the Portfolio’s payment of such year’s current expenses if such practice would require the Adviser to waive, reduce or absorb current Portfolio expenses in excess of the expense limitation in effect at the time the unreimbursed expense was actually incurred.
(g) The Adviser Advisor may agree not to require payment of any portion of the compensation or reimbursement of expenses otherwise due to it pursuant to this Agreement. Any such agreement shall be applicable only with respect to the specific items covered thereby and shall not constitute an agreement not to require payment of any future compensation or reimbursement due to the Adviser Advisor hereunder.
Appears in 2 contracts
Samples: Investment Advisory Agreement (Litman Gregory Funds Trust), Investment Advisory Agreement (Litman Gregory Funds Trust)
Investment Advisory Fee. (a) The Portfolio Fund shall pay to the Adviser, and the Adviser agrees to accept, as full compensation for all investment and advisory services furnished or provided to the Portfolio Fund pursuant to this Agreement, an annual investment advisory fee at equal to 1.0% of the rate set forth in Schedule A to this AgreementFund's average daily net assets.
(b) The investment advisory fee shall be accrued daily by the Portfolio Fund and paid to the Adviser on the first business day of the succeeding month.
(c) The initial fee under this Agreement shall be payable on the first business day of the first month following the effective date of this Agreement and shall be prorated as set forth below. If this Agreement is terminated prior to the end of any month, the fee to the Adviser shall be prorated for the portion of any month in which this Agreement is in effect which is not a complete month according to the proportion which the number of calendar days in the month during which the Agreement is in effect bears to the number of calendar days in the month, and shall be payable within ten (10) days after the date of termination.
(d) The fee payable to the Adviser under this Agreement will be reduced to the extent of any receivable owed by the Adviser to the Portfolio and as required under any expense limitation applicable to the PortfolioFund.
(e) The Adviser voluntarily may reduce any portion of the compensation or reimbursement of expenses due to it pursuant to this Agreement and may agree to make payments to limit the expenses which are the responsibility of the Portfolio Fund under this Agreement. Any such reduction or payment shall be applicable only to such specific reduction or payment and shall not constitute an agreement to reduce any future compensation or reimbursement due to the Adviser hereunder or to continue future payments. Any such reduction will be agreed to prior to accrual of the related expense or fee and will be estimated daily and reconciled and paid on a monthly basis.
(f) Any fee withheld or voluntarily reduced and any Portfolio expense absorbed by the Adviser voluntarily or pursuant to an agreed upon expense cap shall be reimbursed by the Portfolio to the Adviser, if so requested by the Adviser, no later than the third fiscal year succeeding the fiscal year of the withholding, reduction or absorption if the aggregate amount actually paid by the Portfolio toward the operating expenses for such fiscal year (taking into account the reimbursement) do not exceed the applicable limitation on Portfolio expenses. Such reimbursement may not be paid to the Adviser for any fiscal year prior to the Portfolio’s payment of such year’s current expenses if such practice would require the Adviser to waive, reduce or absorb current Portfolio expenses in excess of the expense limitation in effect at the time the unreimbursed expense was actually incurred.
(g) The Adviser may agree not to require payment of any portion of the compensation or reimbursement of expenses otherwise due to it pursuant to this Agreement. Any such agreement shall be applicable only with respect to the specific items covered thereby and shall not constitute an agreement not to require payment of any future compensation or reimbursement due to the Adviser hereunder.
Appears in 2 contracts
Samples: Interim Investment Advisory Agreement (Azzad Funds), Interim Investment Advisory Agreement (Azzad Funds)
Investment Advisory Fee. (a) The Portfolio Each Fund shall pay to the Adviser, and the Adviser agrees to accept, as full compensation for all investment and advisory services furnished or provided to the Portfolio Fund pursuant to this Agreement, an annual investment advisory fee at the rate set forth in Schedule A to this Agreement.
(b) The investment advisory fee shall be accrued daily by the Portfolio each Fund and paid to the Adviser on the first business day of the succeeding month.
(c) The initial fee under this Agreement shall be payable on the first business day of the first month following the effective date of this Agreement and shall be prorated as set forth below. If this Agreement is terminated prior to the end of any month, the fee to the Adviser shall be prorated for the portion of any month in which this Agreement is in effect which is not a complete month according to the proportion which the number of calendar days in the month during which the Agreement is in effect bears to the number of calendar days in the month, and shall be payable within ten (10) days after the date of termination.
(d) The fee payable to the Adviser under this Agreement will be reduced to the extent of any receivable owed by the Adviser to the Portfolio and as required under any expense limitation applicable to the Portfolioa Fund.
(e) The Adviser voluntarily may reduce any portion of the compensation or reimbursement of expenses due to it pursuant to this Agreement and may agree to make payments to limit the expenses which are the responsibility of the Portfolio a Fund under this Agreement. Any such reduction or payment shall be applicable only to such specific reduction or payment and shall not constitute an agreement to reduce any future compensation or reimbursement due to the Adviser hereunder or to continue future payments. Any such reduction will be agreed to prior to accrual of the related expense or fee and will be estimated daily and reconciled and paid on a monthly basis.
(f) Any fee withheld or voluntarily reduced and any Portfolio expense absorbed by the Adviser voluntarily or pursuant to an agreed upon expense cap shall be reimbursed by the Portfolio to the Adviser, if so requested by the Adviser, no later than the third fiscal year succeeding the fiscal year of the withholding, reduction or absorption if the aggregate amount actually paid by the Portfolio toward the operating expenses for such fiscal year (taking into account the reimbursement) do not exceed the applicable limitation on Portfolio expenses. Such reimbursement may not be paid to the Adviser for any fiscal year prior to the Portfolio’s payment of such year’s current expenses if such practice would require the Adviser to waive, reduce or absorb current Portfolio expenses in excess of the expense limitation in effect at the time the unreimbursed expense was actually incurred.
(g) The Adviser may agree not to require payment of any portion of the compensation or reimbursement of expenses otherwise due to it pursuant to this Agreement. Any such agreement shall be applicable only with respect to the specific items covered thereby and shall not constitute an agreement not to require payment of any future compensation or reimbursement due to the Adviser hereunder.
Appears in 2 contracts
Samples: Investment Advisory Agreement (Satuit Capital Management Trust), Investment Advisory Agreement (Satuit Capital Management Trust)
Investment Advisory Fee. (a) The Portfolio Each Fund shall pay to the Adviser, and the Adviser agrees to accept, accept as full compensation for all investment and advisory services furnished or provided to the Portfolio Funds pursuant to this Agreement, an annual investment advisory fee at the rate set forth in Schedule A equal to this Agreement1.00% of a Fund's average daily net assets.
(b) The investment advisory fee shall be accrued daily by the Portfolio Funds and paid to the Adviser on the first business day of the succeeding month.
(c) The initial fee under this Agreement shall be payable on the first business day of the first month following the effective date of this Agreement and shall be prorated as set forth below. If this Agreement is terminated prior to the end of any month, the fee to the Adviser shall be prorated for the portion of any month in which this Agreement is in effect which is not a complete month according to the proportion which the number of calendar days in the month during which the Agreement is in effect bears to the number of calendar days in the month, and shall be payable within ten (10) days after the date of termination.
(d) The fee payable to the Adviser by a Fund under this Agreement will be reduced to the extent of any receivable owed by the Adviser to the Portfolio Fund and as required under any expense limitation applicable to the PortfolioFund.
(e) The Adviser voluntarily may agrees to reduce any portion of the compensation or reimbursement of expenses due to it pursuant to this Agreement and may agree agrees to make payments to limit the expenses which are the responsibility of the Portfolio each Fund under this AgreementAgreement to a maximum of 1.45% of each Fund's average daily net assets. Any such Such reduction or payment shall be applicable only to such specific reduction or payment and shall not constitute an agreement to reduce any future compensation or reimbursement due to the Adviser hereunder or to continue future payments. Any such reduction will be agreed to prior to accrual of the related expense or fee and will be estimated daily and reconciled and paid on a monthly basis.
(f) Any fee withheld or voluntarily reduced and any Portfolio expense absorbed by the Adviser voluntarily or pursuant to an agreed upon expense cap shall be reimbursed by the Portfolio to the Adviser, if so requested by the Adviser, no later than the third fiscal year succeeding the fiscal year of the withholding, reduction or absorption if the aggregate amount actually paid by the Portfolio toward the operating expenses for such fiscal year (taking into account the reimbursement) do not exceed the applicable limitation on Portfolio expenses. Such reimbursement may not be paid to the Adviser for any fiscal year prior to the Portfolio’s payment of such year’s current expenses if such practice would require the Adviser to waive, reduce or absorb current Portfolio expenses in excess of the expense limitation in effect at the time the unreimbursed expense was actually incurred.
(g) The Adviser may agree not to require payment of any portion of the compensation or reimbursement of expenses otherwise due to it pursuant to this Agreement. Any such agreement shall be applicable only with respect to the specific items covered thereby and shall not constitute an agreement not to require payment of any future compensation or reimbursement due to the Adviser hereunder.
Appears in 1 contract
Samples: Investment Advisory Agreement (Trust for Investment Managers)
Investment Advisory Fee. (a) The Portfolio Each Fund shall pay to the Adviser, and the Adviser agrees to accept, as full compensation for all investment management and advisory services furnished or provided to the Portfolio such Fund pursuant to this Agreement, an annual investment advisory fee at the rate as set forth in the Fee Schedule A attached hereto as Appendix A, as may be amended in writing from time to this Agreementtime by the Trust and the Adviser.
(b) The investment advisory fee shall be accrued daily by the Portfolio each Fund and paid to the Adviser on the first business day of the succeeding monthupon its request.
(c) The initial fee under this Agreement shall be payable on the first business day of the first month following the effective date of this Agreement and shall be prorated as set forth below. If this Agreement is terminated prior to before the end of any month, the fee to the Adviser shall be prorated for the portion of any month in which this Agreement is in effect which is not a complete month according to the proportion which the number of calendar days in the month during which the Agreement is in effect bears to the number of calendar days in the month, and shall be payable within ten (10) days after the date of termination.
(d) The fee payable to the Adviser under this Agreement will be reduced to the extent of any receivable owed by the Adviser to the Portfolio and as required under any expense limitation applicable to the Portfolio.
(e) The Adviser voluntarily may reduce any portion of the compensation or reimbursement of expenses due to it pursuant to this Agreement and may agree to make payments to limit the expenses which are the responsibility of the Portfolio a Fund under this Agreement. Any such reduction or payment shall be applicable only to such specific reduction or payment and shall not constitute an agreement to reduce any future compensation or reimbursement due to the Adviser hereunder or to continue future payments. Any such reduction will be agreed to prior to before the accrual of the related expense or fee and will be estimated daily and reconciled and paid on a monthly basis.
(f) Any fee withheld or voluntarily reduced and any Portfolio expense absorbed by the Adviser voluntarily or pursuant to an agreed upon expense cap shall be reimbursed by the Portfolio to the Adviser, if so requested by the Adviser, no later than the third fiscal year succeeding the fiscal year of the withholding, reduction or absorption if the aggregate amount actually paid by the Portfolio toward the operating expenses for such fiscal year (taking into account the reimbursement) do not exceed the applicable limitation on Portfolio expenses. Such reimbursement may not be paid to the Adviser for any fiscal year prior to the Portfolio’s payment of such year’s current expenses if such practice would require the Adviser to waive, reduce or absorb current Portfolio expenses in excess of the expense limitation in effect at the time the unreimbursed expense was actually incurred.
(ge) The Adviser may agree not to require payment of any portion of the compensation or reimbursement of expenses otherwise due to it pursuant to this AgreementAgreement before the time that compensation or reimbursement has accrued as a liability of the Fund. Any such agreement shall be applicable only with respect to the specific items covered thereby and shall not constitute an agreement not to require payment of any future compensation or reimbursement due to the Adviser hereunder.
Appears in 1 contract
Samples: Investment Advisory Agreement (Allegiance Investment Trust)
Investment Advisory Fee. (a) The Portfolio shall pay to the Adviser, and the Adviser agrees to accept, as full compensation for all investment and advisory services furnished or provided to the Portfolio pursuant to this Agreement, an annual investment advisory fee at the rate set forth in Schedule A to this Agreement.
(b) The investment advisory fee shall be accrued daily by the Portfolio and paid to the Adviser on the first business day of the succeeding month.
(c) The initial fee under this Agreement shall be payable on the first business day of the first month following the effective date of this Agreement and shall be prorated as set forth below. If this Agreement is terminated prior to the end of any month, the fee to the Adviser shall be prorated for the portion of any month in which this Agreement is in effect which is not a complete month according to the proportion which the number of calendar days in the month during which the Agreement is in effect bears to the number of calendar days in the month, and shall be payable within ten (10) days after the date of termination.
(d) The fee payable to the Adviser under this Agreement will be reduced to the extent of any receivable owed by the Adviser to the Portfolio and as required under any expense limitation applicable to the Portfolio.
(e) The Adviser voluntarily may reduce any portion of the compensation or reimbursement of expenses due to it pursuant to this Agreement and may agree to make payments to limit the expenses which are the responsibility of the Portfolio under this Agreement. Any such reduction or payment shall be applicable only to such specific reduction or payment and shall not constitute an agreement to reduce any future compensation or reimbursement due to the Adviser hereunder or to continue future payments. Any such reduction will be agreed to prior to accrual of the related expense or fee and will be estimated daily and reconciled and paid on a monthly basis.
(f) Any fee withheld or voluntarily reduced and any Portfolio expense absorbed by the Adviser voluntarily or pursuant to an agreed upon expense cap shall be reimbursed by the Portfolio to the Adviser, if so requested by the Adviser, no later than the third fifth fiscal year succeeding the fiscal year of the withholding, reduction or absorption if the aggregate amount actually paid by the Portfolio toward the operating expenses for such fiscal year (taking into account the reimbursement) do not exceed the applicable limitation on Portfolio expenses. Such reimbursement may not be paid to the Adviser for any fiscal year prior to the Portfolio’s 's payment of such year’s current expenses if so requested by the Adviser even if such practice would may require the Adviser to waive, reduce or absorb current Portfolio expenses in excess of the expense limitation in effect at the time the unreimbursed expense was actually incurredexpenses.
(g) The Adviser may agree not to require payment of any portion of the compensation or reimbursement of expenses otherwise due to it pursuant to this Agreement. Any such agreement shall be applicable only with respect to the specific items covered thereby and shall not constitute an agreement not to require payment of any future compensation or reimbursement due to the Adviser hereunder.
Appears in 1 contract
Samples: Investment Advisory Agreement (Kinetics Portfolios Trust)
Investment Advisory Fee. (a) The Portfolio Fund shall pay to the Adviser, and the Adviser agrees to accept, as full compensation for all investment and advisory services furnished or provided to the Portfolio Fund pursuant to this Agreement, an annual investment advisory fee at the rate set forth in Schedule A to this Agreement.
(b) The investment advisory fee shall be accrued daily by the Portfolio Fund and paid to the Adviser on the first business day of the succeeding month.
(c) The initial fee under this Agreement shall be payable on the first business day of the first month following the effective date of this Agreement and shall be prorated as set forth below. If this Agreement is terminated prior to the end of any month, the fee to the Adviser shall be prorated for the portion of any month in which this Agreement is in effect which is not a complete month according to the proportion which the number of calendar days in the month during which the Agreement is in effect bears to the number of calendar days in the month, and shall be payable within ten (10) days after the date of termination.
(d) The fee payable to the Adviser under this Agreement will be reduced to the extent of any receivable owed by the Adviser to the Portfolio and as required under any expense limitation applicable to the PortfolioFund.
(e) The Adviser voluntarily may reduce any portion of the compensation or reimbursement of expenses due to it pursuant to this Agreement and may agree to make payments to limit the expenses which are the responsibility of the Portfolio Fund under this Agreement. Any such reduction or payment shall be applicable only to such specific reduction or payment and shall not constitute an agreement to reduce any future compensation or reimbursement due to the Adviser hereunder or to continue future payments. Any such reduction will be agreed to prior to accrual of the related expense or fee and will be estimated daily and reconciled and paid on a monthly basis.
(f) Any fee withheld or voluntarily reduced and any Portfolio Fund expense absorbed by the Adviser voluntarily or pursuant to an agreed upon expense cap shall be reimbursed by the Portfolio Fund to the Adviser, if so requested by the Adviser, no later than the third fifth fiscal year succeeding the fiscal year of the withholding, reduction or absorption if the aggregate amount actually paid by the Portfolio Fund toward the operating expenses for such fiscal year (taking into account the reimbursement) do not exceed the applicable limitation on Portfolio expenses. Such reimbursement may not be paid to the Adviser for any fiscal year prior to the Portfolio’s payment of such year’s current expenses if such practice would require the Adviser to waive, reduce or absorb current Portfolio expenses in excess of the expense limitation in effect at the time the unreimbursed expense was actually incurred.
(g) The Adviser may agree not to require payment of any portion of the compensation or reimbursement of expenses otherwise due to it pursuant to this Agreement. Any such agreement shall be applicable only with respect to the specific items covered thereby and shall not constitute an agreement not to require payment of any future compensation or reimbursement due to the Adviser hereunder.Fund
Appears in 1 contract
Samples: Investment Advisory Agreement (Satuit Capital Management Trust)
Investment Advisory Fee. (a) The Portfolio Fund shall pay to the AdviserAdvisor, and the Adviser Advisor agrees to accept, as full compensation for all investment management and advisory services furnished or provided to the Portfolio Fund pursuant to this Agreement, an annual investment advisory management fee at the annual rate set forth in Schedule A to this Agreementof 0.95%.
(b) The investment advisory management fee shall be accrued daily by the Portfolio Fund and paid to the Adviser Advisor on the first business day of the succeeding month.
(c) The initial fee under this Agreement shall be payable on the first business day of the first month following the effective date of this Agreement and shall be prorated as set forth below. If this Agreement is terminated prior to the end of any month, the fee to the Adviser Advisor shall be prorated for the portion of any month in which this Agreement is in effect which is not a complete month according to the proportion which the number of calendar days in the month during which the Agreement is in effect bears to the number of calendar days in the month, and shall be payable within ten (10) days after the date of termination.
(d) The fee payable to the Adviser Advisor under this Agreement will be reduced to the extent of any receivable amount owed by the Adviser Advisor to the Portfolio Fund and as required under any expense limitation applicable to the PortfolioFund.
(e) The Adviser Advisor voluntarily may reduce any portion of the compensation or reimbursement of expenses due to it pursuant to this Agreement and may agree to make payments to limit the expenses which are the responsibility of the Portfolio Fund under this Agreement. Any such reduction or payment shall be applicable only to such specific reduction or payment and shall not constitute an agreement to reduce any future compensation or reimbursement due to the Adviser Advisor hereunder or to continue future payments. Any such reduction will be agreed to prior to accrual of the related expense or fee and will be estimated daily and reconciled and paid on a monthly basis.
(f) Any fee withheld or voluntarily reduced and and/or any Portfolio Fund expense absorbed by the Adviser Advisor voluntarily or pursuant to an agreed upon expense cap (collectively "subsidies") shall be reimbursed by the Portfolio Fund to the AdviserAdvisor, if so requested by the AdviserAdvisor, no later than any time before the end of the third fiscal year succeeding following the fiscal year of to which the withholdingsubsidy relates, reduction or absorption if provided the aggregate amount actually paid by of the Portfolio toward the Fund's current operating expenses for such fiscal year (taking into account the reimbursement) do does not exceed the applicable limitation on Portfolio Fund expenses. Such In the case of a new Fund, subsidies incurred by the Advisor in the Fund's first three years of operation remain eligible for reimbursement may not be paid for an extended number of years, as follows: subsidies incurred in the first and second years of the Fund's operation are eligible for reimbursement through the end of the Fund's sixth fiscal year; subsidies incurred by the Advisor in the third year of operation are eligible for reimbursement through the end of the seventh fiscal year. The Fund must pay its current ordinary operating expenses before the Advisor is entitled to the Adviser for any fiscal year reimbursement of fees and/or expenses. Any such reimbursement is also contingent upon Board of Trustees review and approval prior to the Portfolio’s payment of such year’s current expenses if such practice would require the Adviser to waive, reduce or absorb current Portfolio expenses in excess of the expense limitation in effect at the time the unreimbursed expense was actually incurredreimbursement is initiated.
(g) The Adviser Advisor may agree not to require payment of any portion of the compensation or reimbursement of expenses otherwise due to it pursuant to this Agreement. Any such agreement shall be applicable only with respect to the specific items covered thereby and shall not constitute an agreement not to require payment of any future compensation or reimbursement due to the Adviser Advisor hereunder.
Appears in 1 contract
Samples: Investment Advisory Agreement (Trust for Investment Managers)
Investment Advisory Fee. (a) The Portfolio Fund shall pay to the AdviserAdvisor, and the Adviser Advisor agrees to accept, as full compensation for all investment management and advisory services furnished or provided to the Portfolio Fund pursuant to this Agreement, an annual investment advisory management fee at the annual rate set forth in Schedule A to this Agreementof 1.00%.
(b) The investment advisory management fee shall be accrued daily by the Portfolio Fund and paid to the Adviser Advisor on the first business day of the succeeding month.
(c) The initial fee under this Agreement shall be payable on the first business day of the first month following the effective date of this Agreement and shall be prorated as set forth below. If this Agreement is terminated prior to the end of any month, the fee to the Adviser Advisor shall be prorated for the portion of any month in which this Agreement is in effect which is not a complete month according to the proportion which the number of calendar days in the month during which the Agreement is in effect bears to the number of calendar days in the month, and shall be payable within ten (10) days after the date of termination.
(d) The fee payable to the Adviser Advisor under this Agreement will be reduced to the extent of any receivable amount owed by the Adviser Advisor to the Portfolio Fund and as required under any expense limitation applicable to the PortfolioFund.
(e) The Adviser Advisor voluntarily may reduce any portion of the compensation or reimbursement of expenses due to it pursuant to this Agreement and may agree to make payments to limit the expenses which are the responsibility of the Portfolio Fund under this Agreement. Any such reduction or payment shall be applicable only to such specific reduction or payment and shall not constitute an agreement to reduce any future compensation or reimbursement due to the Adviser Advisor hereunder or to continue future payments. Any such reduction will be agreed to prior to accrual of the related expense or fee and will be estimated daily and reconciled and paid on a monthly basis.
(f) Any fee withheld or voluntarily reduced and any Portfolio expense absorbed such reductions made by the Adviser voluntarily Advisor in its fees or pursuant payment of expenses which are the Fund's obligation are subject to an agreed upon expense cap shall be reimbursed reimbursement by the Portfolio Fund to the AdviserAdvisor, if so requested by the AdviserAdvisor, no later than the third in subsequent fiscal year succeeding the fiscal year of the withholding, reduction or absorption years if the aggregate amount actually paid by the Portfolio Fund toward the operating expenses for such fiscal year (taking into account the reimbursement) do does not exceed the applicable limitation on Portfolio Fund expenses. The Advisor is permitted to be reimbursed only for fee reductions and expense payments made in the previous three fiscal years, but is permitted to look back five years and four years, respectively, during the initial six years and seventh year of the Fund's operations. Any such reimbursement is also contingent upon review and approval by the Board of Trustees at the time the reimbursement is made. Such reimbursement may not be paid to the Adviser for any fiscal year prior to the Portfolio’s Fund's payment of such year’s current expenses if such practice would require the Adviser to waive, reduce or absorb current Portfolio expenses in excess of the expense limitation in effect at the time the unreimbursed expense was actually incurredordinary operating expenses.
(g) The Adviser Advisor may agree not to require payment of any portion of the compensation or reimbursement of expenses otherwise due to it pursuant to this Agreement. Any such agreement shall be applicable only with respect to the specific items covered thereby and shall not constitute an agreement not to require payment of any future compensation or reimbursement due to the Adviser Advisor hereunder.
Appears in 1 contract
Samples: Investment Advisory Agreement (Trust for Investment Managers)
Investment Advisory Fee. (a11) The Portfolio Fund shall pay to the Adviser, and the Adviser agrees to accept, as full compensation for all investment and advisory services furnished or provided to the Portfolio Fund pursuant to this Agreement, an annual investment advisory fee at the rate set forth in Schedule A to this Agreement.
(b12) The investment advisory fee shall be accrued daily by the Portfolio Fund and paid to the Adviser on the first business day of the succeeding month.
(c13) The initial fee under this Agreement shall be payable on the first business day of the first month following the effective date of this Agreement and shall be prorated as set forth below. If this Agreement is terminated prior to the end of any month, the fee to the Adviser shall be prorated for the portion of any month in which this Agreement is in effect which is not a complete month according to the proportion which the number of calendar days in the month during which the Agreement is in effect bears to the number of calendar days in the month, and shall be payable within ten (10) days after the date of termination.
(d14) The fee payable to the Adviser under this Agreement will be reduced to the extent of any receivable owed by the Adviser to the Portfolio Fund and as required under any expense limitation applicable to the PortfolioFund.
(e15) The Adviser voluntarily may reduce any portion of the compensation or reimbursement of expenses due to it pursuant to this Agreement and may agree to make payments to limit the expenses which are the responsibility of the Portfolio Fund under this Agreement. Any such reduction or payment shall be applicable only to such specific reduction or payment and shall not constitute an agreement to reduce any future compensation or reimbursement due to the Adviser hereunder or to continue future payments. Any such reduction will be agreed to prior to accrual of the related expense or fee and will be estimated daily and reconciled and paid on a monthly basis.
(f16) Any fee withheld or voluntarily reduced and any Portfolio Fund expense absorbed by the Adviser voluntarily or pursuant to an agreed upon expense cap shall be reimbursed by the Portfolio Fund to the Adviser, if so requested by the Adviser, no later than the third fifth fiscal year succeeding the fiscal year of the withholding, reduction or absorption if the aggregate amount actually paid by the Portfolio Fund toward the operating expenses for such fiscal year (taking into account the reimbursement) do not exceed the applicable limitation on Portfolio Fund expenses. Such reimbursement may not be paid to the Adviser for any fiscal year prior to the Portfolio’s Fund's payment of such year’s current expenses if so requested by the Adviser even if such practice would may require the Adviser to waive, reduce or absorb current Portfolio expenses in excess of the expense limitation in effect at the time the unreimbursed expense was actually incurredFund expenses.
(g17) The Adviser may agree not to require payment of any portion of the compensation or reimbursement of expenses otherwise due to it pursuant to this Agreement. Any such agreement shall be applicable only with respect to the specific items covered thereby and shall not constitute an agreement not to require payment of any future compensation or reimbursement due to the Adviser hereunder.
Appears in 1 contract
Investment Advisory Fee. (a) The Portfolio shall pay to the Adviser, and the Adviser agrees to accept, as full compensation for all investment and advisory services furnished or provided to the Portfolio pursuant to this Agreement, an annual investment advisory fee at the rate set forth in Schedule A to this Agreement.
(b) The investment advisory fee shall be accrued daily by the Portfolio and paid to the Adviser on the first business day of the succeeding month.
(c) The initial fee under this Agreement shall be payable on the first business day of the first month following the effective date of this Agreement and shall be prorated as set forth below. If this Agreement is terminated prior to the end of any month, the fee to the Adviser shall be prorated for the portion of any month in which this Agreement is in effect which is not a complete month according to the proportion which the number of calendar days in the month during which the Agreement is in effect bears to the number of calendar days in the month, and shall be payable within ten (10) days after the date of termination.
(d) The fee payable to the Adviser under this Agreement will be reduced to the extent of any receivable owed by the Adviser to the Portfolio and as required under any expense limitation applicable to the th Portfolio.
(e) The Adviser voluntarily may reduce any portion of the compensation or reimbursement of expenses due to it pursuant to this Agreement and may agree to make payments to limit the expenses which are the responsibility of the Portfolio under this Agreement. Any such reduction or payment shall be applicable only to such specific reduction or payment and shall not constitute an agreement to reduce any future compensation or reimbursement due to the Adviser hereunder or to continue future payments. Any such reduction will be agreed to prior to accrual of the related expense or fee and will be estimated daily and reconciled and paid on a monthly basis.
(f) Any fee withheld or voluntarily reduced and any Portfolio expense absorbed by the Adviser voluntarily or pursuant to an agreed upon expense cap shall be reimbursed by the Portfolio to the Adviser, if so requested by the Adviser, no later than the third fifth fiscal year succeeding the fiscal year of the withholding, reduction or absorption if the aggregate amount actually paid by the Portfolio toward the operating expenses for such fiscal year (taking into account the reimbursement) do not exceed the applicable limitation on Portfolio expenses. Such reimbursement may not be paid to the Adviser for any fiscal year prior to the Portfolio’s 's payment of such year’s current expenses if so requested by the Adviser even if such practice would may require the Adviser to waive, reduce or absorb current Portfolio expenses in excess of the expense limitation in effect at the time the unreimbursed expense was actually incurredexpenses.
(g) The Adviser may agree not to require payment of any portion of the compensation or reimbursement of expenses otherwise due to it pursuant to this Agreement. Any such agreement shall be applicable only with respect to the specific items covered thereby and shall not constitute an agreement not to require payment of any future compensation or reimbursement due to the Adviser hereunder.
Appears in 1 contract
Samples: Investment Advisory Agreement (Kinetics Portfolios Trust)
Investment Advisory Fee. (a) The Portfolio Fund shall pay to the Adviser, and the Adviser agrees to accept, as full compensation for all investment and advisory services furnished or provided to the Portfolio Fund pursuant to this Agreement, an annual investment advisory fee at equal to .80% of the rate set forth in Schedule A to this AgreementFund’s average daily net assets.
(b) The investment advisory fee shall be accrued daily by the Portfolio Fund and paid to the Adviser on the first business day of the succeeding month.
(c) The initial fee under this Agreement shall be payable on the first business day of the first month following the effective date of this Agreement and shall be prorated as set forth below. If this Agreement is terminated prior to the end of any month, the fee to the Adviser shall be prorated for the portion of any month in which this Agreement is in effect which is not a complete month according to the proportion which the number of calendar days in the month during which the Agreement is in effect bears to the number of calendar days in the month, and shall be payable within ten (10) days after the date of termination.
(d) The fee payable to the Adviser under this Agreement will be reduced to the extent of any receivable owed by the Adviser to the Portfolio and as required under any expense limitation applicable to the PortfolioFund.
(e) The Adviser voluntarily may reduce any portion of the compensation or reimbursement of expenses due to it pursuant to this Agreement and may agree to make payments to limit the expenses which are the responsibility of the Portfolio Fund under this Agreement. Any such reduction or payment shall be applicable only to such specific reduction or payment and shall not constitute an agreement to reduce any future compensation or reimbursement due to the Adviser hereunder or to continue future payments. Any such reduction will be agreed to prior to accrual of the related expense or fee and will be estimated daily and reconciled and paid on a monthly basis.
(f) Any fee withheld or voluntarily reduced and any Portfolio Fund expense absorbed by the Adviser voluntarily or pursuant to an agreed upon expense cap shall be reimbursed by the Portfolio Fund to the Adviser, if so requested by the Adviser, no later than the third fiscal year THAN THE FIFTH FISCAL YEAR succeeding the fiscal year of the withholding, reduction or absorption if the aggregate amount actually paid by the Portfolio Fund toward the operating expenses for such fiscal year (taking into account the reimbursement) do does not exceed the applicable limitation on Portfolio Fund expenses. Such reimbursement may not be paid to the Adviser for any fiscal year prior to the Portfolio’s Fund's payment of such year’s current expenses if so requested by the Adviser even if such practice would may require the Adviser to waive, reduce or absorb current Portfolio expenses in excess of the expense limitation in effect at the time the unreimbursed expense was actually incurredFund expenses.
(g) The Adviser may agree not to require payment of any portion of the compensation or reimbursement of expenses otherwise due to it pursuant to this Agreement. Any such agreement shall be applicable only with respect to the specific items covered thereby and shall not constitute an agreement not to require payment of any future compensation or reimbursement due to the Adviser hereunder.
Appears in 1 contract
Investment Advisory Fee. (a) The Portfolio Fund shall pay to the Adviser, and the Adviser agrees to accept, as full compensation for all investment and advisory services furnished or provided to the Portfolio Fund pursuant to this Agreement, an annual investment advisory fee at equal to 0.80% of the rate set forth in Schedule A to this AgreementFund’s average daily net assets.
(b) The investment advisory fee shall be accrued daily by the Portfolio Fund and paid to the Adviser on the first business day of the succeeding month.
(c) The initial fee under this Agreement shall be payable on the first business day of the first month following the effective date of this Agreement and shall be prorated as set forth below. If this Agreement is terminated prior to the end of any month, the fee to the Adviser shall be prorated for the portion of any month in which this Agreement is in effect which is not a complete month according to the proportion which the number of calendar days in the month during which the Agreement is in effect bears to the number of calendar days in the month, and shall be payable within ten (10) days after the date of termination.
(d) The fee payable to the Adviser under this Agreement will be reduced to the extent of any receivable owed by the Adviser to the Portfolio and as required under any expense limitation applicable to the PortfolioFund.
(e) The Adviser may voluntarily may reduce any portion of the compensation or reimbursement of expenses due to it pursuant to this Agreement and may agree to make payments to limit the expenses which are the responsibility of the Portfolio Fund under this Agreement. Any such reduction or payment shall be applicable only to such specific reduction or payment and shall not constitute an agreement to reduce any future compensation or reimbursement due to the Adviser hereunder or to continue future payments. Any such reduction will be agreed to prior to accrual of the related expense or fee and will be estimated daily and reconciled and paid on a monthly basismonthly.
(f) Any fee withheld or voluntarily reduced and any Portfolio expense absorbed by the Adviser voluntarily or pursuant to an agreed upon expense cap shall be reimbursed by the Portfolio to the Adviser, if so requested by the Adviser, no later than the third fiscal year succeeding the fiscal year of the withholding, reduction or absorption if the aggregate amount actually paid by the Portfolio toward the operating expenses for such fiscal year (taking into account the reimbursement) do not exceed the applicable limitation on Portfolio expenses. Such reimbursement may not be paid to the Adviser for any fiscal year prior to the Portfolio’s payment of such year’s current expenses if such practice would require the Adviser to waive, reduce or absorb current Portfolio expenses in excess of the expense limitation in effect at the time the unreimbursed expense was actually incurred.
(g) The Adviser may agree not to require payment of any portion of the compensation or reimbursement of expenses otherwise due to it pursuant to this Agreement. Any such agreement shall be applicable only with respect to the specific items covered thereby and shall not constitute an agreement not to require payment of any future compensation or reimbursement due to the Adviser hereunder.
Appears in 1 contract
Investment Advisory Fee. (a) The Portfolio Each Fund shall pay to the Adviser, and the Adviser agrees to accept, as full compensation for all investment management and advisory services furnished or provided to the Portfolio such Fund pursuant to this Agreement, an annual investment advisory fee at the rate as set forth in the Fee Schedule A attached hereto as Appendix A, as may be amended in writing from time to this Agreementtime by the Trust and the Adviser.
(b) The investment advisory fee shall be accrued daily by the Portfolio each Fund and paid to the Adviser on the first business day of the succeeding monthupon its request.
(c) The initial fee under this Agreement shall be payable on the first business day of the first month following the effective date of this Agreement and shall be prorated as set forth below. If this Agreement is terminated prior to before the end of any month, the fee to the Adviser shall be prorated for the portion of any month in which this Agreement is in effect which is not a complete month according to the proportion which the number of calendar days in the month during which the Agreement is in effect bears to the number of calendar days in the month, and shall be payable within ten (10) days after the date of termination.
(d) The fee payable to the Adviser under this Agreement will be reduced to the extent of any receivable owed by the Adviser to the Portfolio and as required under any expense limitation applicable to the Portfolio.
(e) The Adviser voluntarily may reduce any portion of the compensation or reimbursement of expenses due to it pursuant to this Agreement and may agree to make payments to limit the expenses which are the responsibility of the Portfolio a Fund under this Agreement. Any such reduction or payment shall be applicable only to such specific reduction or payment and shall not constitute an agreement to reduce any future compensation or reimbursement due to the Adviser hereunder or to continue future payments. Any such reduction will be agreed to prior to before the accrual of the related expense or fee and will be estimated daily and reconciled and paid on a monthly basis.
(f) Any fee withheld or voluntarily reduced and any Portfolio expense absorbed by the Adviser voluntarily or pursuant to an agreed upon expense cap shall be reimbursed by the Portfolio to the Adviser, if so requested by the Adviser, no later than the third fiscal year succeeding the fiscal year of the withholding, reduction or absorption if the aggregate amount actually paid by the Portfolio toward the operating expenses for such fiscal year (taking into account the reimbursement) do not exceed the applicable limitation on Portfolio expenses. Such reimbursement may not be paid to the Adviser for any fiscal year prior to the Portfolio’s payment of such year’s current expenses if such practice would require the Adviser to waive, reduce or absorb current Portfolio expenses in excess of the expense limitation in effect at the time the unreimbursed expense was actually incurred.
(ge) The Adviser may agree not to require payment of any portion of the compensation or reimbursement of expenses otherwise due to it pursuant to this AgreementAgreement before the time that compensation or reimbursement has accrued as a liability of a Fund. Any such agreement shall be applicable only with respect to the specific items covered thereby and shall not constitute an agreement not to require payment of any future compensation or reimbursement due to the Adviser hereunder.
Appears in 1 contract
Samples: Investment Management Agreement (Mw Capital Management Funds)
Investment Advisory Fee. (a) The Portfolio A Fund shall pay to the Adviser, and the Adviser agrees to accept, as full compensation for all investment and advisory services furnished or provided to the Portfolio Fund pursuant to this Agreement, an annual investment advisory fee at the rate set forth in Schedule A to this Agreement.
(b) The investment advisory fee shall be accrued daily by the Portfolio a Fund and paid to the Adviser on the first business day of the succeeding month.
(c) The initial fee under this Agreement shall be payable on the first business day of the first month following the effective date of this Agreement and shall be prorated as set forth below. If this Agreement is terminated prior to the end of any month, the fee to the Adviser shall be prorated for the portion of any month in which this Agreement is in effect which is not a complete month according to the proportion which the number of calendar days in the month during which the Agreement is in effect bears to the number of calendar days in the month, and shall be payable within ten (10) days after the date of termination.
(d) The fee payable to the Adviser under this Agreement will be reduced to the extent of any receivable owed by the Adviser to the Portfolio and as required under any expense limitation applicable to the PortfolioFund.
(e) The Adviser voluntarily may reduce any portion of the compensation or reimbursement of expenses due to it pursuant to this Agreement and may agree to make payments to limit the expenses which are the responsibility of the Portfolio Fund under this Agreement. Any such reduction or payment shall be applicable only to such specific reduction or payment and shall not constitute an agreement to reduce any future compensation or reimbursement due to the Adviser hereunder or to continue future payments. Any such reduction will be agreed to prior to accrual of the related expense or fee and will be estimated daily and reconciled and paid on a monthly basis.
(f) Any fee withheld or voluntarily reduced and any Portfolio Fund expense absorbed by the Adviser voluntarily or pursuant to an agreed upon expense cap shall be reimbursed by the Portfolio Fund to the Adviser, if so requested by the Adviser, no later than the third fifth fiscal year succeeding the fiscal year of the withholding, reduction or absorption if the aggregate amount actually paid by the Portfolio a Fund toward the operating expenses for such fiscal year (taking into account the reimbursement) do not exceed the applicable limitation on Portfolio Fund expenses. Such reimbursement may not be paid to the Adviser for any fiscal year prior to the Portfolio’s Fund's payment of such year’s current expenses if so requested by the Adviser even if such practice would may require the Adviser to waive, reduce or absorb current Portfolio expenses in excess of the expense limitation in effect at the time the unreimbursed expense was actually incurredFund expenses.
(g) The Adviser may agree not to require payment of any portion of the compensation or reimbursement of expenses otherwise due to it pursuant to this Agreement. Any such agreement shall be applicable only with respect to the specific items covered thereby and shall not constitute an agreement not to require payment of any future compensation or reimbursement due to the Adviser hereunder.
Appears in 1 contract
Samples: Investment Advisory Agreement (North Country Funds)
Investment Advisory Fee. (a1) The Portfolio Fund shall pay to the Adviser, and the Adviser agrees to accept, as full compensation for all investment and advisory services furnished or provided to the Portfolio Fund pursuant to this Agreement, an annual investment advisory fee at the rate set forth in Schedule A to this Agreement.
(b2) The investment advisory fee shall be accrued daily by the Portfolio Fund and paid to the Adviser on the first business day of the succeeding month.
(c3) The initial fee under this Agreement shall be payable on the first business day of the first month following the effective date of this Agreement and shall be prorated as set forth below. If this Agreement is terminated prior to the end of any month, the fee to the Adviser shall be prorated for the portion of any month in which this Agreement is in effect which is not a complete month according to the proportion which the number of calendar days in the month during which the Agreement is in effect bears to the number of calendar days in the month, and shall be payable within ten (10) days after the date of termination.
(d4) The fee payable to the Adviser under this Agreement will be reduced to the extent of any receivable owed by the Adviser to the Portfolio Fund and as required under any expense limitation applicable to the PortfolioFund.
(e5) The Adviser voluntarily may reduce any portion of the compensation or reimbursement of expenses due to it pursuant to this Agreement and may agree to make payments to limit the expenses which are the responsibility of the Portfolio Fund under this Agreement. Any such reduction or payment shall be applicable only to such specific reduction or payment and shall not constitute an agreement to reduce any future compensation or reimbursement due to the Adviser hereunder or to continue future payments. Any such reduction will be agreed to prior to accrual of the related expense or fee and will be estimated daily and reconciled and paid on a monthly basis.
(f6) Any fee withheld or voluntarily reduced and any Portfolio Fund expense absorbed by the Adviser voluntarily or pursuant to an agreed upon expense cap shall be reimbursed by the Portfolio Fund to the Adviser, if so requested by the Adviser, no later than the third fifth fiscal year succeeding the fiscal year of the withholding, reduction or absorption if the aggregate amount actually paid by the Portfolio Fund toward the operating expenses for such fiscal year (taking into account the reimbursement) do not exceed the applicable limitation on Portfolio Fund expenses. Such reimbursement may not be paid to the Adviser for any fiscal year prior to the Portfolio’s Fund's payment of such year’s current expenses if so requested by the Adviser even if such practice would may require the Adviser to waive, reduce or absorb current Portfolio expenses in excess of the expense limitation in effect at the time the unreimbursed expense was actually incurredFund expenses.
(g7) The Adviser may agree not to require payment of any portion of the compensation or reimbursement of expenses otherwise due to it pursuant to this Agreement. Any such agreement shall be applicable only with respect to the specific items covered thereby and shall not constitute an agreement not to require payment of any future compensation or reimbursement due to the Adviser hereunder.
Appears in 1 contract
Investment Advisory Fee. (a) The Portfolio Fund shall pay to the Adviser, and the Adviser agrees to accept, as full compensation for all investment management and advisory services furnished or provided to the Portfolio such Fund pursuant to this Agreement, an annual investment advisory fee at the rate set forth in Schedule A to this Agreementof 0.70% of net assets per annum.
(b) The investment advisory fee shall be accrued daily by the Portfolio Fund and paid to the Adviser on the first business day of the succeeding monthupon its request.
(c) The initial fee under this Agreement shall be payable on the first business day of the first month following the effective date of this Agreement and shall be prorated as set forth below. If this Agreement is terminated prior to before the end of any month, the fee to the Adviser shall be prorated for the portion of any month in which this Agreement is in effect which is not a complete month according to the proportion which the number of calendar days in the month during which the Agreement is in effect bears to the number of calendar days in the month, and shall be payable within ten (10) days after the date of termination.
(d) The fee payable to the Adviser under this Agreement will be reduced to the extent of any receivable owed by the Adviser to the Portfolio and as required under any expense limitation applicable to the Portfolio.
(e) The Adviser voluntarily may reduce any portion of the compensation or reimbursement of expenses due to it pursuant to this Agreement and may agree to make payments to limit the expenses which are the responsibility of the Portfolio Fund under this Agreement. Any such reduction or payment shall be applicable only to such specific reduction or payment and shall not constitute an agreement to reduce any future compensation or reimbursement due to the Adviser hereunder or to continue future payments. Any such reduction will be agreed to prior to before the accrual of the related expense or fee and will be estimated daily and reconciled and paid on a monthly basis.
(f) Any fee withheld or voluntarily reduced and any Portfolio expense absorbed by the Adviser voluntarily or pursuant to an agreed upon expense cap shall be reimbursed by the Portfolio to the Adviser, if so requested by the Adviser, no later than the third fiscal year succeeding the fiscal year of the withholding, reduction or absorption if the aggregate amount actually paid by the Portfolio toward the operating expenses for such fiscal year (taking into account the reimbursement) do not exceed the applicable limitation on Portfolio expenses. Such reimbursement may not be paid to the Adviser for any fiscal year prior to the Portfolio’s payment of such year’s current expenses if such practice would require the Adviser to waive, reduce or absorb current Portfolio expenses in excess of the expense limitation in effect at the time the unreimbursed expense was actually incurred.
(ge) The Adviser may agree not to require payment of any portion of the compensation or reimbursement of expenses otherwise due to it pursuant to this AgreementAgreement before the time that compensation or reimbursement has accrued as a liability of the Fund. Any such agreement shall be applicable only with respect to the specific items covered thereby and shall not constitute an agreement not to require payment of any future compensation or reimbursement due to the Adviser hereunder.
Appears in 1 contract
Samples: Investment Advisory Agreement (Advisors Series Trust)
Investment Advisory Fee. (a) The Portfolio Fund shall pay to the AdviserAdvisor, and the Adviser Advisor agrees to accept, as full compensation for all investment management and advisory services furnished or provided to the Portfolio Fund pursuant to this Agreement, an annual investment advisory management fee at the annual rate set forth in Schedule A to this Agreementof 0.95% of the Fund's average daily net assets.
(b) The investment advisory management fee shall be accrued daily by the Portfolio Fund and paid to the Adviser Advisor on the first business day of the succeeding month.
(c) The initial fee under this Agreement shall be payable on the first business day of the first month following the effective date of this Agreement and shall be prorated as set forth below. If this Agreement is terminated prior to the end of any month, the fee to the Adviser Advisor shall be prorated for the portion of any month in which this Agreement is in effect which is not a complete month according to the proportion which the number of calendar days in the month during which the Agreement is in effect bears to the number of calendar days in the month, and shall be payable within ten (10) days after the date of termination.
(d) The fee payable to the Adviser Advisor under this Agreement will be reduced to the extent of any receivable amount owed by the Adviser Advisor to the Portfolio Fund and as required under any expense limitation applicable to the PortfolioFund.
(e) The Adviser Advisor voluntarily may reduce any portion of the compensation or reimbursement of expenses due to it pursuant to this Agreement and may agree to make payments to limit the expenses which are the responsibility of the Portfolio Fund under this Agreement. Any such reduction or payment shall be applicable only to such specific reduction or payment and shall not constitute an agreement to reduce any future compensation or reimbursement due to the Adviser Advisor hereunder or to continue future payments. Any such reduction will be agreed to prior to accrual of the related expense or fee and will be estimated daily and reconciled and paid on a monthly basis.
(f) Any fee withheld or voluntarily reduced and any Portfolio expense absorbed such reductions made by the Adviser voluntarily Advisor in its fees or pursuant payment of expenses which are the Fund's obligation are subject to an agreed upon expense cap shall be reimbursed reimbursement by the Portfolio Fund to the AdviserAdvisor, if so requested by the AdviserAdvisor, no later than the third in subsequent fiscal year succeeding the fiscal year of the withholding, reduction or absorption years if the aggregate amount actually paid by the Portfolio Fund toward the operating expenses for such fiscal year (taking into account the reimbursement) do does not exceed the applicable limitation on Portfolio Fund expenses. The Advisor is permitted to be reimbursed only for fee reductions and expense payments made in the previous three fiscal years, but is permitted to look back five years and four years, respectively, during the initial six years and seventh year of the Fund's operations. Any such reimbursement is also contingent upon review and approval by the Board of Trustees at the time the reimbursement is made. Such reimbursement may not be paid to the Adviser for any fiscal year prior to the Portfolio’s Fund's payment of such year’s current expenses if such practice would require the Adviser to waive, reduce or absorb current Portfolio expenses in excess of the expense limitation in effect at the time the unreimbursed expense was actually incurredordinary operating expenses.
(g) The Adviser Advisor may agree not to require payment of any portion of the compensation or reimbursement of expenses otherwise due to it pursuant to this Agreement. Any such agreement shall be applicable only with respect to the specific items covered thereby and shall not constitute an agreement not to require payment of any future compensation or reimbursement due to the Adviser Advisor hereunder.
Appears in 1 contract
Samples: Investment Advisory Agreement (Trust for Investment Managers)
Investment Advisory Fee. (a) The Portfolio Fund shall pay to the AdviserAdvisor, and the Adviser Advisor agrees to accept, as full compensation for all investment advisory and advisory management services furnished or provided to the Portfolio such Fund pursuant to this Agreement, an annual investment advisory fee at equal to 1.14% of the rate set forth in Schedule A to this AgreementFund's daily net assets, computed on the value of the net assets of the Fund as of the close of business each day.
(b) The investment advisory fee shall be accrued daily by the Portfolio Fund and paid to the Adviser Advisor on the first business day of the succeeding month.
(c) The initial fee under this Agreement shall be payable on the first business day of the first month following the effective date of this Agreement and shall be prorated as set forth below. If this Agreement is terminated prior to the end of any month, the fee to the Adviser Advisor shall be prorated for the portion of any month in which this Agreement agreement is in effect which is not a complete month according to the proportion which the number of calendar days in the month during which the Agreement is in effect bears to the number of calendar days in the month, and shall be payable within ten (10) days after the date of termination.
(d) The fee payable to the Adviser Advisor under this Agreement will be reduced to the extent of any receivable owed by the Adviser Advisor to the Portfolio Fund and as required under any expense limitation applicable to the Portfolioa Fund.
(e) The Adviser Advisor voluntarily may reduce any portion of the compensation or reimbursement of expenses due to it pursuant to this Agreement and may agree to make payments to limit the expenses which are the responsibility of the Portfolio a Fund under this Agreement. Any such reduction or payment shall be applicable only to such specific reduction or payment and shall not constitute an agreement to reduce any future compensation or reimbursement due to the Adviser Advisor hereunder or to continue future payments. Any such reduction will be agreed to prior to accrual of the related expense or fee and will be estimated daily and reconciled and paid on a monthly basis.
(f) Any fee withheld or voluntarily reduced and any Portfolio Fund expense absorbed by the Adviser Advisor voluntarily or pursuant to an agreed upon expense cap shall be reimbursed by the Portfolio Fund to the AdviserAdvisor, if so requested by the AdviserAdvisor, no later than in the first, second or third (or any combination thereof) fiscal year next succeeding the fiscal year of the withholding, reduction or absorption if the aggregate amount actually paid by the Portfolio Fund toward the operating expenses for such fiscal year (taking into account the reimbursement) do not exceed the applicable limitation on Portfolio Fund expenses. Such reimbursement The Advisor may not be paid to the Adviser request and receive reimbursement for any fiscal year prior to the Portfolio’s subsidies before payment of such year’s the Fund's ordinary operating expenses for the current expenses if such practice would require year and cannot cause the Adviser Fund to waive, reduce or absorb current Portfolio expenses in excess of the exceed any agreed upon expense limitation for that year in effect at the time the unreimbursed expense was actually incurredmaking such reimbursement.
(g) The Adviser Advisor may agree not to require payment of any portion of the compensation or reimbursement of expenses otherwise due to it pursuant to this Agreement. Any such agreement shall be applicable only with respect to the specific items covered thereby and shall not constitute an agreement not to require payment of any future compensation or reimbursement due to the Adviser Advisor hereunder.
Appears in 1 contract
Samples: Investment Advisory Agreement (Masters Select Funds Trust)
Investment Advisory Fee. (a) The Portfolio Fund shall pay to the AdviserAdvisor, and the Adviser Advisor agrees to accept, as full compensation for all investment management and advisory services furnished or provided to the Portfolio Fund pursuant to this Agreement, an annual investment advisory management fee at the annual rate set forth in Schedule A to this Agreementof 0.85%.
(b) The investment advisory management fee shall be accrued daily by the Portfolio Fund and paid to the Adviser Advisor on the first business day of the succeeding month.
(c) The initial fee under this Agreement shall be payable on the first business day of the first month following the effective date of this Agreement and shall be prorated as set forth below. If this Agreement is terminated prior to the end of any month, the fee to the Adviser Advisor shall be prorated for the portion of any month in which this Agreement is in effect which is not a complete month according to the proportion which the number of calendar days in the month during which the Agreement is in effect bears to the number of calendar days in the month, and shall be payable within ten (10) days after the date of termination.
(d) The fee payable to the Adviser Advisor under this Agreement will be reduced to the extent of any receivable amount owed by the Adviser Advisor to the Portfolio Fund and as required under any expense limitation applicable to the PortfolioFund.
(e) The Adviser Advisor voluntarily may reduce any portion of the compensation or reimbursement of expenses due to it pursuant to this Agreement and may agree to make payments to limit the expenses which are the responsibility of the Portfolio Fund under this Agreement. Any such reduction or payment shall be applicable only to such specific reduction or payment and shall not constitute an agreement to reduce any future compensation or reimbursement due to the Adviser Advisor hereunder or to continue future payments. Any such reduction will be agreed to prior to accrual of the related expense or fee and will be estimated daily and reconciled and paid on a monthly basis.
(f) Any fee withheld or voluntarily reduced and and/or any Portfolio Fund expense absorbed by the Adviser Advisor voluntarily or pursuant to an agreed upon expense cap (collectively "subsidies") shall be reimbursed by the Portfolio Fund to the AdviserAdvisor, if so requested by the AdviserAdvisor, no later than any time before the end of the third fiscal year succeeding following the fiscal year of to which the withholdingsubsidy relates, reduction or absorption if provided the aggregate amount actually paid by of the Portfolio toward the Fund's current operating expenses for such fiscal year (taking into account the reimbursement) do does not exceed the applicable limitation on Portfolio Fund expenses. Such In the case of a new Fund, subsidies incurred by the Advisor in the Fund's first three years of operation remain eligible for reimbursement may not be paid for an extended number of years, as follows: subsidies incurred in the first and second years of the Fund's operation are eligible for reimbursement through the end of the Fund's sixth fiscal year; subsidies incurred by the Advisor in the third year of operation are eligible for reimbursement through the end of the seventh fiscal year. The Fund must pay its current ordinary operating expenses before the Advisor is entitled to the Adviser for any fiscal year reimbursement of fees and/or expenses. Any such reimbursement is also contingent upon Board of Trustees review and approval prior to the Portfolio’s payment of such year’s current expenses if such practice would require the Adviser to waive, reduce or absorb current Portfolio expenses in excess of the expense limitation in effect at the time the unreimbursed expense was actually incurredreimbursement is initiated.
(g) The Adviser Advisor may agree not to require payment of any portion of the compensation or reimbursement of expenses otherwise due to it pursuant to this Agreement. Any such agreement shall be applicable only with respect to the specific items covered thereby and shall not constitute an agreement not to require payment of any future compensation or reimbursement due to the Adviser Advisor hereunder.
Appears in 1 contract
Samples: Investment Advisory Agreement (Trust for Investment Managers)
Investment Advisory Fee. (a) The Portfolio Fund shall pay to the AdviserAdvisor, and the Adviser Advisor agrees to accept, as full compensation for all investment management and advisory services furnished or provided to the Portfolio Fund pursuant to this Agreement, an annual investment advisory management fee at the annual rate set forth in Schedule A to this Agreementof 0.75%.
(b) The investment advisory management fee shall be accrued daily by the Portfolio Fund and paid to the Adviser Advisor on the first business day of the succeeding month.
(c) The initial fee under this Agreement shall be payable on the first business day of the first month following the effective date of this Agreement and shall be prorated as set forth below. If this Agreement is terminated prior to the end of any month, the fee to the Adviser Advisor shall be prorated for the portion of any month in which this Agreement is in effect which is not a complete month according to the proportion which the number of calendar days in the month during which the Agreement is in effect bears to the number of calendar days in the month, and shall be payable within ten (10) days after the date of termination.
(d) The fee payable to the Adviser Advisor under this Agreement will be reduced to the extent of any receivable amount owed by the Adviser Advisor to the Portfolio Fund and as required under any expense limitation applicable to the PortfolioFund.
(e) The Adviser Advisor voluntarily may reduce any portion of the compensation or reimbursement of expenses due to it pursuant to this Agreement and may agree to make payments to limit the expenses which are the responsibility of the Portfolio Fund under this Agreement. Any such reduction or payment shall be applicable only to such specific reduction or payment and shall not constitute an agreement to reduce any future compensation or reimbursement due to the Adviser Advisor hereunder or to continue future payments. Any such reduction will be agreed to prior to accrual of the related expense or fee and will be estimated daily and reconciled and paid on a monthly basis.
(f) Any fee withheld or voluntarily reduced and any Portfolio expense absorbed such reductions made by the Adviser voluntarily Advisor in its fees or pursuant payment of expenses which are the Fund's obligation are subject to an agreed upon expense cap shall be reimbursed reimbursement by the Portfolio Fund to the AdviserAdvisor, if so requested by the AdviserAdvisor, no later than the third in subsequent fiscal year succeeding the fiscal year of the withholding, reduction or absorption years if the aggregate amount actually paid by the Portfolio Fund toward the operating expenses for such fiscal year (taking into account the reimbursement) do does not exceed the applicable limitation on Portfolio Fund expenses. The Advisor is permitted to be reimbursed only for fee reductions and expense payments made in the previous three fiscal years, but is permitted to look back five years and four years, respectively, during the initial six years and seventh year of the Fund's operations. Any such reimbursement is also contingent upon review and approval by the Board of Trustees at the time the reimbursement is made. Such reimbursement may not be paid to the Adviser for any fiscal year prior to the Portfolio’s Fund's payment of such year’s current expenses if such practice would require the Adviser to waive, reduce or absorb current Portfolio expenses in excess of the expense limitation in effect at the time the unreimbursed expense was actually incurredordinary operating expenses.
(g) The Adviser Advisor may agree not to require payment of any portion of the compensation or reimbursement of expenses otherwise due to it pursuant to this Agreement. Any such agreement shall be applicable only with respect to the specific items covered thereby and shall not constitute an agreement not to require payment of any future compensation or reimbursement due to the Adviser Advisor hereunder.
Appears in 1 contract
Samples: Investment Advisory Agreement (Trust for Investment Managers)
Investment Advisory Fee. (a) The Portfolio Fund shall pay to the Adviser, and the Adviser agrees to accept, as full compensation for all investment and advisory services furnished or provided to the Portfolio Fund pursuant to this Agreement, an annual investment advisory fee at the rate set forth in Schedule A to this Agreement.
(b) The investment advisory fee shall be accrued daily by the Portfolio Fund and paid to the Adviser on the first business day of the succeeding month.
(c) The initial fee under this Agreement shall be payable on the first business day of the first month following the effective date of this Agreement and shall be prorated as set forth below. If this Agreement is terminated prior to the end of any month, the fee to the Adviser shall be prorated for the portion of any month in which this Agreement is in effect which is not a complete month according to the proportion which the number of calendar days in the month during which the Agreement is in effect bears to the number of calendar days in the month, and shall be payable within ten (10) days after the date of termination.
(d) The fee payable to the Adviser under this Agreement will be reduced to the extent of any receivable owed by the Adviser to the Portfolio Fund and as required under any expense limitation applicable to the PortfolioFund.
(e) The Adviser voluntarily may reduce any portion of the compensation or reimbursement of expenses due to it pursuant to this Agreement and may agree to make payments to limit the expenses which are the responsibility of the Portfolio Fund under this Agreement. Any such reduction or payment shall be applicable only to such specific reduction or payment and shall not constitute an agreement to reduce any future compensation or reimbursement due to the Adviser hereunder or to continue future payments. Any such reduction will be agreed to prior to accrual of the related expense or fee and will be estimated daily and reconciled and paid on a monthly basis.
(f) Any fee withheld or voluntarily reduced and any Portfolio Fund expense absorbed by the Adviser voluntarily or pursuant to an agreed upon expense cap shall be reimbursed by the Portfolio Fund to the Adviser, if so requested by the Adviser, no later than the third fifth fiscal year succeeding the fiscal year of the withholding, reduction or absorption if the aggregate amount actually paid by the Portfolio Fund toward the operating expenses for such fiscal year (taking into account the reimbursement) do not exceed the applicable limitation on Portfolio Fund expenses. Such reimbursement may not be paid to the Adviser for any fiscal year prior to the Portfolio’s Fund's payment of such year’s current expenses if so requested by the Adviser even if such practice would may require the Adviser to waive, reduce or absorb current Portfolio expenses in excess of the expense limitation in effect at the time the unreimbursed expense was actually incurredFund expenses.
(g) The Adviser may agree not to require payment of any portion of the compensation or reimbursement of expenses otherwise due to it pursuant to this Agreement. Any such agreement shall be applicable only with respect to the specific items covered thereby and shall not constitute an agreement not to require payment of any future compensation or reimbursement due to the Adviser hereunder.
Appears in 1 contract
Samples: Investment Advisory Agreement (Medical Fund & the Cure for Cancer Inc)
Investment Advisory Fee. (a) The Portfolio Fund shall pay to the Adviser, and the Adviser agrees to accept, as full compensation for all investment and advisory services furnished or provided to the Portfolio Fund pursuant to this Agreement, an annual investment advisory fee at equal to 0.80% of the rate set forth in Schedule A to this AgreementFund’s average daily net assets.
(b) The investment advisory fee shall be accrued daily by the Portfolio Fund and paid to the Adviser on the first business day of the succeeding month.
(c) The initial fee under this Agreement shall be payable on the first business day of the first month following the effective date of this Agreement and shall be prorated as set forth below. If this Agreement is terminated prior to the end of any month, the fee to the Adviser shall be prorated for the portion of any month in which this Agreement is in effect which is not a complete month according to the proportion which the number of calendar days in the month during which the Agreement is in effect bears to the number of calendar days in the month, and shall be payable within ten (10) days after the date of termination.
(d) The fee payable to the Adviser under this Agreement will be reduced to the extent of any receivable owed by the Adviser to the Portfolio and as required under any expense limitation applicable to the PortfolioFund.
(e) The Adviser may voluntarily may reduce any portion of the compensation or reimbursement of expenses due to it pursuant to this Agreement and may agree to make payments to limit the expenses which are the responsibility of the Portfolio Fund under this Agreement. Any such reduction or payment shall be applicable only to such specific reduction or payment and shall not constitute an agreement to reduce any future compensation or reimbursement due to the Adviser hereunder or to continue future payments. Any such reduction will be agreed to prior to accrual of the related expense or fee and will be estimated daily and reconciled and paid on a monthly basis.
(f) Any fee withheld or voluntarily reduced and any Portfolio expense absorbed by the Adviser voluntarily or pursuant to an agreed upon expense cap shall be reimbursed by the Portfolio to the Adviser, if so requested by the Adviser, no later than the third fiscal year succeeding the fiscal year of the withholding, reduction or absorption if the aggregate amount actually paid by the Portfolio toward the operating expenses for such fiscal year (taking into account the reimbursement) do not exceed the applicable limitation on Portfolio expenses. Such reimbursement may not be paid to the Adviser for any fiscal year prior to the Portfolio’s payment of such year’s current expenses if such practice would require the Adviser to waive, reduce or absorb current Portfolio expenses in excess of the expense limitation in effect at the time the unreimbursed expense was actually incurred.
(g) The Adviser may agree not to require payment of any portion of the compensation or reimbursement of expenses otherwise due to it pursuant to this Agreement. Any such agreement shall be applicable only with respect to the specific items covered thereby and shall not constitute an agreement not to require payment of any future compensation or reimbursement due to the Adviser hereunder.
Appears in 1 contract
Investment Advisory Fee. (a) The Portfolio Fund shall pay to the AdviserAdvisor, and the Adviser Advisor agrees to accept, as full compensation for all investment management and advisory services furnished or provided to the Portfolio Fund pursuant to this Agreement, an annual investment advisory management fee at the annual rate set forth in Schedule A to this Agreementof 1.00% of the Fund's average daily net assets.
(b) The investment advisory management fee shall be accrued daily by the Portfolio Fund and paid to the Adviser Advisor on the first business day of the succeeding month.
(c) The initial fee under this Agreement shall be payable on the first business day of the first month following the effective date of this Agreement and shall be prorated as set forth below. If this Agreement is terminated prior to the end of any month, the fee to the Adviser Advisor shall be prorated for the portion of any month in which this Agreement is in effect which is not a complete month according to the proportion which the number of calendar days in the month during which the Agreement is in effect bears to the number of calendar days in the month, and shall be payable within ten (10) days after the date of termination.
(d) The fee payable to the Adviser Advisor under this Agreement will be reduced to the extent of any receivable amount owed by the Adviser Advisor to the Portfolio Fund and as required under any expense limitation applicable to the PortfolioFund.
(e) The Adviser Advisor voluntarily may reduce any portion of the compensation or reimbursement of expenses due to it pursuant to this Agreement and may agree to make payments to limit the expenses which are the responsibility of the Portfolio Fund under this Agreement. Any such reduction or payment shall be applicable only to such specific reduction or payment and shall not constitute an agreement to reduce any future compensation or reimbursement due to the Adviser Advisor hereunder or to continue future payments. Any such reduction will be agreed to prior to accrual of the related expense or fee and will be estimated daily and reconciled and paid on a monthly basis.
(f) Any fee withheld or voluntarily reduced and any Portfolio expense absorbed such reductions made by the Adviser voluntarily Advisor in its fees or pursuant payment of expenses which are the Fund's obligation are subject to an agreed upon expense cap shall be reimbursed reimbursement by the Portfolio Fund to the AdviserAdvisor, if so requested by the AdviserAdvisor, no later than the third in subsequent fiscal year succeeding the fiscal year of the withholding, reduction or absorption years if the aggregate amount actually paid by the Portfolio Fund toward the operating expenses for such fiscal year (taking into account the reimbursement) do does not exceed the applicable limitation on Portfolio Fund expenses. The Advisor is permitted to be reimbursed only for fee reductions and expense payments made in the previous three fiscal years, but is permitted to look back five years and four years, respectively, during the initial six years and seventh year of the Fund's operations. Any such reimbursement is also contingent upon review and approval by the Board of Trustees at the time the reimbursement is made. Such reimbursement may not be paid to the Adviser for any fiscal year prior to the Portfolio’s Fund's payment of such year’s current expenses if such practice would require the Adviser to waive, reduce or absorb current Portfolio expenses in excess of the expense limitation in effect at the time the unreimbursed expense was actually incurredordinary operating expenses.
(g) The Adviser Advisor may agree not to require payment of any portion of the compensation or reimbursement of expenses otherwise due to it pursuant to this Agreement. Any such agreement shall be applicable only with respect to the specific items covered thereby and shall not constitute an agreement not to require payment of any future compensation or reimbursement due to the Adviser Advisor hereunder.
Appears in 1 contract
Samples: Investment Advisory Agreement (Trust for Investment Managers)
Investment Advisory Fee. (ah) The Portfolio Fund shall pay to the Adviser, and the Adviser agrees to accept, as full compensation for all investment and advisory services furnished or provided to the Portfolio Fund pursuant to this Agreement, an annual investment advisory fee at the rate set forth in Schedule A equal to this Agreement1.00% of the Fund's average daily net assets.
(bi) The investment advisory fee shall be accrued daily by the Portfolio Fund and paid to the Adviser on the first business day of the succeeding month.
(cj) The initial fee under this Agreement shall be payable on the first business day of the first month following the effective date of this Agreement and shall be prorated as set forth below. If this Agreement is terminated prior to the end of any month, the fee to the Adviser shall be prorated for the portion of any month in which this Agreement is in effect which is not a complete month according to the proportion which the number of calendar days in the month during which the Agreement is in effect bears to the number of calendar days in the month, and shall be payable within ten (10) days after the date of termination.
(dk) The fee payable to the Adviser under this Agreement will be reduced to the extent of any receivable owed by the Adviser to the Portfolio Fund and as required under any expense limitation applicable to the PortfolioFund.
(el) The Adviser voluntarily may reduce any portion of the compensation or reimbursement of expenses due to it pursuant to this Agreement and may agree to make payments to limit the expenses which are the responsibility of the Portfolio Fund under this Agreement. Any such reduction or payment shall be applicable only to such specific reduction or payment and shall not constitute an agreement to reduce any future compensation or reimbursement due to the Adviser hereunder or to continue future payments. Any such reduction will be agreed to prior to accrual of the related expense or fee and will be estimated daily and reconciled and paid on a monthly basis.
(fm) Any fee withheld or voluntarily reduced and any Portfolio Fund expense absorbed by the Adviser voluntarily or pursuant to an agreed upon expense cap Section 7(e) shall be reimbursed by the Portfolio Fund to the Adviser, if so requested by the Adviser, no later than the third fifth fiscal year succeeding the fiscal year of the withholding, reduction or absorption if the aggregate amount actually paid by the Portfolio Fund toward the operating expenses for such fiscal year (taking into account the reimbursement) do not exceed the applicable limitation on Portfolio Fund expenses. Such reimbursement may not be paid to the Adviser for any fiscal year prior to the Portfolio’s Fund's payment of such year’s current expenses if so requested by the Adviser even if such practice would may require the Adviser to waive, reduce or absorb current Portfolio expenses in excess of the expense limitation in effect at the time the unreimbursed expense was actually incurredFund expenses.
(gn) The Adviser may agree not to require payment of any portion of the compensation or reimbursement of expenses otherwise due to it pursuant to this Agreement. Any such agreement shall be applicable only with respect to the specific items covered thereby and shall not constitute an agreement not to require payment of any future compensation or reimbursement due to the Adviser hereunder.
Appears in 1 contract
Investment Advisory Fee. (a) The Portfolio Fund shall pay to the AdviserAdvisor, and the Adviser Advisor agrees to accept, as full compensation for all investment advisory and advisory management services furnished or provided to the Portfolio such Fund pursuant to this Agreement, an annual investment advisory fee at equal to [1.10]% of the rate set forth in Schedule A to this AgreementFund's daily net assets, computed on the value of the net assets of the Fund as of the close of business each day.
(b) The investment advisory fee shall be accrued daily by the Portfolio Fund and paid to the Adviser Advisor on the first [first] business day of the succeeding month.
(c) The initial fee under this Agreement shall be payable on the first [first] business day of the first month following the effective date of this Agreement and shall be prorated as set forth below. If this Agreement is terminated prior to the end of any month, the fee to the Adviser Advisor shall be prorated for the portion of any month in which this Agreement is in effect which is not a complete month according to the proportion which the number of calendar days in the month during which the Agreement is in effect bears to the number of calendar days in the month, and shall be payable within ten (10) days after the date of termination.
(d) The fee payable to the Adviser Advisor under this Agreement will be reduced to the extent of any receivable owed by the Adviser Advisor to the Portfolio Fund and as required under any expense limitation applicable to the Portfolioa Fund.
(e) The Adviser Advisor voluntarily may reduce any portion of the compensation or reimbursement of expenses due to it pursuant to this Agreement and may agree to make payments to limit the expenses which are the responsibility of the Portfolio a Fund under this Agreement. Any such reduction or payment shall be applicable only to such specific reduction or payment and shall not constitute an agreement to reduce any future compensation or reimbursement due to the Adviser Advisor hereunder or to continue future payments. Any such reduction will be agreed to prior to accrual of the related expense or fee and will be estimated daily and reconciled and paid on a monthly basis.
(f) Any fee withheld or voluntarily reduced and any Portfolio Fund expense absorbed by the Adviser Advisor voluntarily or pursuant to an agreed upon expense cap shall be reimbursed by the Portfolio Fund to -5- the AdviserAdvisor, if so requested by the AdviserAdvisor, no later than in the first, second or third (or any combination thereof) fiscal year next succeeding the fiscal year of the withholding, reduction or absorption if the aggregate amount actually paid by the Portfolio Fund toward the operating expenses for such fiscal year (taking into account the reimbursement) do not exceed the applicable limitation on Portfolio Fund expenses. Such reimbursement may not be paid to the Adviser for any fiscal year prior to the Portfolio’s Fund's payment of such year’s current expenses if so requested by the Advisor even if such practice would may require the Adviser Advisor to waive, reduce or absorb current Portfolio expenses in excess of the expense limitation in effect at the time the unreimbursed expense was actually incurredFund expenses.
(g) The Adviser Advisor may agree not to require payment of any portion of the compensation or reimbursement of expenses otherwise due to it pursuant to this Agreement. Any such agreement shall be applicable only with respect to the specific items covered thereby and shall not constitute an agreement not to require payment of any future compensation or reimbursement due to the Adviser Advisor hereunder.
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Samples: Investment Advisory Agreement (Masters Concentrated Select Trust)
