No Fee; Reimbursement of Expenses; Limitations on Reimbursement of Expenses. In full consideration for the provision of the services provided by the Administrator under this Agreement, the parties acknowledge that there shall be no separate fee paid in connection with the services provided, notwithstanding that the Fund shall reimburse the Administrator no less than quarterly, for all expenses of the Fund incurred by the Administrator as well as the actual cost of goods and services used for or by the Fund and paid by the Administrator to third party entities not affiliated with the Administrator. The Administrator shall be reimbursed for the administrative services performed by it on behalf of the Fund; provided, however, that such costs are reasonably allocated by the Administrator to the Fund on the basis of assets, revenues, time allocations and/or other method conforming with generally accepted accounting principles.
No Fee; Reimbursement of Expenses; Limitations on Reimbursement of Expenses. (a) In full consideration for the provisions of the services provided by the Administrator under this Agreement, the parties acknowledge that there shall be no separate fee paid in connection with the services provided, notwithstanding that the Company shall reimburse the Administrator, at the end of each fiscal quarter, for all expenses of the Company incurred by the Administrator as well as the actual cost of goods and services used for the Company and obtained by the Administrator from entities not Affiliated with the Company. The Administrator may be reimbursed for the administrative services necessary for the prudent operation of the Company performed by it on behalf of the Company; provided, however, the reimbursement shall be an amount equal to the lower of the Administrator’s actual cost or the amount the Company would be required to pay third parties for the provision of comparable administrative services in the same geographic location; and provided, further, that such costs are reasonably allocated to the Company on the basis of assets, revenues, time records or other method conforming with generally accepted accounting principles. The Company may also agree to reimburse the Administrator, under this Agreement whereby the Administrator shall provide certain administrative services for the Company, for the salaries, rent and travel expenses of executive officers of the Administrator also serving in the capacity of chief financial officer or chief compliance officer of the Company provided such reimbursement is approved annually by the Independent Directors. The Administrator shall prepare a statement documenting the expenses of the Company and the calculation of the reimbursement and shall deliver such statement to the Company prior to full reimbursement
No Fee; Reimbursement of Expenses; Limitations on Reimbursement of Expenses. In full consideration for the provision of the services provided by the Administrator under this Agreement, the parties acknowledge that there shall be no separate fee paid in connection with the services provided, notwithstanding that the Fund shall reimburse the Administrator and the applicable Sub-Adviser no less than quarterly, for all expenses of the Fund incurred by the Administrator as well as the actual cost of goods and services used for or by the Fund and paid by the Administrator to third party entities not affiliated with the Administrator. The Administrator shall be reimbursed for the administrative services performed by it on behalf of the Fund; provided, however, that (1) such costs are reasonably allocated by the Administrator to the Fund on the basis of assets, revenues, time allocations and/or other method conforming with generally accepted accounting principles; (2) such reimbursement shall be subject to any expense limitation of the Fund in effect at the time at which such reimbursement is otherwise payable; and (3) the Administrator and the Sub-Advisers shall not be entitled to reimbursement for any expenses relating to the salaries and direct expenses of administrative personnel paid by the Administrator or the applicable Sub-Adviser (and the Fund shall have no obligation to pay any such expenses) to the extent that Third-Party Other Operating Expenses exceed 0.25% of the average net assets attributable to each class of shares.
No Fee; Reimbursement of Expenses; Limitations on Reimbursement of Expenses. In full consideration for the provisions of the services provided by the Administrator under this Agreement, the parties acknowledge that there shall be no separate fee paid in connection with the services provided, notwithstanding that the Company shall reimburse the Administrator, at the end of each fiscal quarter, for all expenses of the Company incurred by the Administrator as well as the actual cost of goods and services used for the Company and obtained by the Administrator from entities not Affiliated with the Company. The Administrator may be reimbursed for the administrative services necessary for the prudent operation of the Company performed by it on behalf of the Company; provided, however, the reimbursement shall be an amount equal to the lower of the Administrator’s actual cost or the amount the Company would be required to pay third parties for the provision of comparable administrative services in the same geographic location; and provided, further, that such costs are reasonably allocated to the Company on the basis of assets, revenues, time records or other method conforming with generally accepted accounting principles.
No Fee; Reimbursement of Expenses; Limitations on Reimbursement of Expenses. In full consideration for the provision of the services provided by the Administrator under this Agreement, the parties acknowledge that there shall be no separate fee paid in connection with the services provided, notwithstanding that the Fund shall reimburse the Administrator and GoldenTree no less than quarterly, for all expenses of the Fund (including Organization and Offering Expenses and the Administrator’s allocable portion of the compensation and related expenses of certain personnel of FS Investments providing administrative services to the Fund on behalf of the Administrator), incurred by the Administrator as well as the actual cost of goods and services used for or by the Fund and paid by the Administrator to third party entities not affiliated with the Administrator. No Organization and Offering Expenses will be reimbursed by the Fund until such time as the Fund has raised $50.0 million in gross proceeds in its public offering (excluding proceeds received from the investment at the Fund’s first closing for subscriptions for Class I common shares in the Fund’s public offering by the Administrator and GoldenTree and their respective employees, partners, officers (and immediate family members or related trusts of the foregoing) and other affiliates) (the “O&O Threshold”). Aggregate Organization and Offering Expenses will be limited to 0.50% of the gross proceeds raised in the Fund’s public offering in excess of the O&O Threshold. Any Organization and Offering Expenses paid on the Fund’s behalf by FS, GoldenTree or their respective affiliates will become subject to recoupment pursuant to Section 2 of this Agreement. Upon raising proceeds in its public offering in excess of the O&O Threshold, the Fund will incur Organization and Offering Expenses in an amount equal to 0.50% of gross proceeds raised, with such amounts (including any reimbursements to FS, GoldenTree or their respective affiliates) being subject to any expense limitation in effect between the Fund and the Administrator. Pursuant to the Investment Sub-Advisory Agreement, GoldenTree has agreed to defer amounts owed to it for certain administrative services during periods in which the Administrator is waiving expenses or making payments pursuant to the expense reimbursement agreement. Such reimbursements will be shared between the Administrator and GoldenTree pro rata, with priority being given to the then-oldest unreimbursed expense. The Administrator shall be reimbursed for the administ...
No Fee; Reimbursement of Expenses; Limitations on Reimbursement of Expenses. In full consideration for the provisions of the services provided by the Administrator under this Agreement, the parties acknowledge that there shall be no separate fee paid in connection with the administrative services provided. Each Company shall reimburse the Administrator promptly following the receipt of written invoices from the Administrator for all expenses of the Company incurred by the Administrator and its Affiliates as well as the actual cost of goods and services used for the Company and obtained by the Administrator from entities not Affiliated with the Company; provided, however, that such costs are reasonably allocated to the Company on the basis of assets, revenues, time records or other method conforming with generally accepted accounting principles. Notwithstanding the foregoing, in no event shall a Company accrue or otherwise be financially responsible for, and in no event shall the Administrator be obligated to provide written invoices or any accounting or record whatsoever to a Company in connection with, any expenses incurred directly by the Administrator or its Affiliates (which for avoidance of doubt, shall not include any expenses of third-party service providers incurred by the Administrator or its Affiliates on a Company’s behalf prior to the first common shares subscription closing date of such Feeder Company, or, in the case of the Master Company, the first common share subscription closing date of the first Feeder Company to commence operations.
No Fee; Reimbursement of Expenses; Limitations on Reimbursement of Expenses. In full consideration for the provision of the services provided by the Administrator under this Agreement, the parties acknowledge that there shall be no separate fee paid in connection with the services provided, notwithstanding that the Funds shall reimburse the Administrator generally on a quarterly basis, for all expenses of the Funds incurred by the Administrator as well as the actual cost of goods and services used for or by the Funds and paid by the Administrator to third party entities not affiliated with the Administrator. The Administrator shall be reimbursed for the services performed by it on behalf of the Funds; provided, however, that (1) such costs are reasonably allocated by the Administrator to the Funds on the basis of assets, revenues, time allocations and/or other method conforming with generally accepted accounting principles, and in accordance with the Legal Expense Policy, and (2) such reimbursement shall be subject to any expense limitation of the Funds in effect at the time at which such reimbursement is otherwise payable.
No Fee; Reimbursement of Expenses; Limitations on Reimbursement of Expenses. In full consideration for the provision of the services provided by the Administrator under this Agreement, the parties acknowledge that there shall be no separate fee paid in connection with the services provided, notwithstanding that the Fund shall reimburse the Administrator no less than quarterly, for all expenses of the Fund (including Organization and Offering Expenses) incurred by the Administrator as well as the actual cost of goods and services used for or by the Fund and paid by the Administrator to third party entities not affiliated with the Administrator. Organization and Offering Expenses will be limited to 0.50% of the gross proceeds raised in the Fund’s public offering. Any Organization and Offering Expenses paid on the Fund’s behalf by FS, Magnetar or their respective affiliates will become subject to recoupment pursuant to Section 2 of this Agreement. Upon raising proceeds in its public offering, the Fund will incur Organization and Offering Expenses in an amount equal to 0.50% of gross proceeds raised, with such amounts (including any reimbursements to FS, Magnetar or their respective affiliates) being subject to any expense limitation in effect between the Fund and the Administrator. The Administrator shall be reimbursed for the administrative services performed by it on behalf of the Fund; provided, however, that such costs are reasonably allocated by the Administrator to the Fund on the basis of assets, revenues, time allocations and/or other method conforming with generally accepted accounting principles.
No Fee; Reimbursement of Expenses; Limitations on Reimbursement of Expenses. (a) In full consideration for the provision of the services provided by the Sub-Administrator pursuant to Section 1(c) of this Agreement, the parties acknowledge that there shall be no separate fee paid in connection with the services provided. As consideration for the provision of the Services under this Agreement, the Company pay third-parties directly or reimburse the Sub-Administrator the fees and expenses of third parties for services provided to the Company. The Sub-Administrator shall not be reimbursed for administrative services performed by it for the benefit of the Company.
(b) Such reimbursement shall be made in cash to the Sub-Administrator by the Company within 30 calendar days following the Administrator’s delivery to the Company of the Reimbursement Statement (as defined in the Management Agreement) therefor.
No Fee; Reimbursement of Expenses; Limitations on Reimbursement of Expenses. In full consideration for the provisions of the services provided by the Administrator under this Agreement, the parties acknowledge that there shall be no separate fee paid in connection with the services provided. Each Company shall reimburse the Administrator promptly following the receipt of written invoices from the Administrator for all expenses of the Company incurred by the Administrator and its Affiliates as well as the actual cost of goods and services used for the Company and obtained by the Administrator from entities not Affiliated with the Company; provided, however, that such costs are reasonably allocated to the Company on the basis of assets, revenues, time records or other method conforming with generally accepted accounting principles.
