Common use of Operating Expenses; Fees Clause in Contracts

Operating Expenses; Fees. (a) The Fund shall pay amounts due to be paid by it hereunder (including any incidental expenses but not including redemption or dividend payments on the MFP Shares) as operating expenses. (b) On the Effective Date, the Fund shall pay up to $40,000 of the fees and expenses of the Purchaser's outside counsel in connection with (i) the negotiation and documentation of the transactions contemplated by this Agreement and (ii) the initial organization and set up of a voting trust to be formed with respect to the MFP Shares (the "Voting Trust"). (c) With respect to the fees and expenses described in subsection (b) of this Section 2.3, the Fund will pay such fees and expenses within thirty (30) days of receipt of the associated invoice.

Appears in 1 contract

Samples: Exchange Agreement (Bank of America Corp /De/)

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Operating Expenses; Fees. (a) The Fund shall pay amounts due to be paid by it hereunder (including any incidental expenses but not including redemption or dividend payments on the MFP Shares) as operating expenses. (b) On the Effective Date, the The Fund shall pay up to $40,000 30,000 of the reasonable fees and expenses expenses, in each case documented in detail and reasonably satisfactory to the Fund, of the Purchaser's ’s outside counsel in connection with (i) the negotiation and documentation of the transactions contemplated by this Agreement and (ii) the initial organization and set up of a voting trust Agreement, to be formed with respect to invoiced on or about the MFP Shares (the "Voting Trust")Effective Date and paid reasonably promptly thereafter. (c) With respect to the fees and expenses described in subsection (b) of this Section 2.3, the Fund will pay such fees and expenses within thirty (30) days of receipt of the associated invoice.

Appears in 1 contract

Samples: Additional Series a Munifund Preferred Shares Purchase Agreement (Bank of America Corp /De/)

Operating Expenses; Fees. (a) The Fund shall pay amounts due to be paid by it hereunder (including any incidental expenses but not including redemption or dividend payments on the MFP Shares) as operating expenses. (b) On the Effective Date, the Fund shall pay up to $40,000 of the fees and expenses of the Purchaser's outside counsel in connection with (i) the negotiation and documentation of the transactions contemplated by this Agreement and (ii) the initial organization and set up of a voting trust to be formed with respect to the MFP Shares (the "Voting Trust"). (c) With respect to the fees and expenses described in subsection (b) of this Section 2.32.2, the Fund will pay such fees and expenses within thirty (30) days of receipt of the associated invoice.

Appears in 1 contract

Samples: Series a Munifund Preferred Shares Purchase Agreement (Bank of America Corp /De/)

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Operating Expenses; Fees. (a) The Fund shall pay amounts due to be paid by it hereunder (including any incidental expenses but not including redemption or dividend payments on the MFP Shares) as operating expenses. (b) On the Effective Date, the The Fund shall pay up to $40,000 50,000 of the reasonable documented fees and expenses of the Purchaser's ’s outside counsel in connection with (i) the negotiation and documentation of the transactions contemplated by this Agreement and (ii) the initial organization and set up of a voting trust to be formed with respect to the MFP Shares (the "Voting Trust"). (c) With respect to the fees and expenses described in subsection (b) of this Section 2.3, the Fund will pay such fees and expenses within thirty (30) days of receipt of the associated invoice.

Appears in 1 contract

Samples: Initial Series a Munifund Preferred Shares Purchase Agreement (Bank of America Corp /De/)

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