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 VMTP Shares) as operating expenses. (b) On the Effective Date, the Fund shall pay up to $40,000 of the fees and expenses of Xxxxx Fargo’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 VMTP Shares (the “Voting Trust”). (c) The Fund shall pay up to [$16,250] annually, beginning with the calendar year ending December 31, 2014, of the fees and expenses incurred by Xxxxx Fargo in connection with ongoing maintenance and operation of the Voting Trust, until the earliest to occur of (1) the termination of the Voting Trust; (2) Xxxxx Fargo’s transfer or sale of all of the VMTP Shares; (3) the Term Redemption Date; and (4) the termination of this Agreement pursuant to Section 7.6 hereof. (d) With respect to the fees and expenses described in subsection (c) of this Section 2.2, the Fund will pay such fees and expenses within thirty (30) days of receipt of the associated invoice. For avoidance of doubt, the Fund’s responsibilities with respect to the fees and expenses described in subsections (b) (ii) and (c) are exclusive of each other.
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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 VMTP MFP Shares) as operating expenses.
(b) On the Effective Date, the Fund shall pay up to $40,000 35,000 of the documented reasonable fees and expenses of Xxxxx Fargothe 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 VMTP Shares (the “Voting Trust”)Agreement.
(c) The Fund shall pay up to [$16,250] 13,500 annually, beginning with the calendar year ending December 31, 20142023, of the documented reasonable fees and expenses incurred by Xxxxx Fargo the Purchaser in connection with ongoing maintenance and operation of the voting trust with respect to the MFP Shares and any other Preferred Shares owned by the Purchaser (the “Voting Trust, ”) until the earliest to occur of (1) the termination of the Voting Trust; (2) Xxxxx Fargothe Purchaser’s transfer or sale of all of the VMTP MFP Shares; (3) the Term Redemption Dateend of the Adjustable Rate Variable Rate Mode; and (4) the termination of this Agreement pursuant to Section 7.6 hereof. For the avoidance of doubt, such $13,500 annual payment obligation represents the aggregate annual payment obligation of the Fund with respect to the Voting Trust under this Agreement and any other agreement with the Purchaser or its affiliates with respect to Preferred Shares of the Fund.
(d) With respect to the fees and expenses described in subsection (c) of this Section 2.22.3, the Fund will pay such fees and expenses within thirty (30) days of receipt of the associated invoice. For avoidance of doubt, the Fund’s responsibilities with respect to the fees and expenses described in subsections (b) (ii) and (c) are exclusive of each other.
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Samples: Series C Munifund Preferred Shares Purchase Agreement (Wells Fargo & Company/Mn)
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 VMTP Shares) as operating expenses.
(b) On the Effective Date, the Fund shall pay up to $40,000 of the fees and expenses of Xxxxx Fargo’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 VMTP Shares (the “Voting Trust”).
(c) The Fund shall pay up to [$16,250] 13,500 annually, beginning with the calendar year ending December 31, 20142016, of the fees and expenses incurred by Xxxxx Fargo in connection with ongoing maintenance and operation of the Voting Trust, until the earliest to occur of (1) the termination of the Voting Trust; (2) Xxxxx Fargo’s transfer or sale of all of the VMTP Shares; (3) the Term Redemption Date; and (4) the termination of this Agreement pursuant to Section 7.6 hereof.
(d) With respect to the fees and expenses described in subsection (c) of this Section 2.2, the Fund will pay such fees and expenses within thirty (30) days of receipt of the associated invoice. For avoidance of doubt, the Fund’s responsibilities with respect to the fees and expenses described in subsections (b) (ii) and (c) are exclusive of each other.
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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 VMTP Shares) as operating expenses.
(b) On the Effective Date, the Fund shall pay up to $40,000 of the fees and expenses of Xxxxx Fargo’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 VMTP Shares (the “Voting Trust”).
(c) The Fund shall pay up to [$16,250] 13,500 annually, beginning with the calendar year ending December 31, 2014, of the fees and expenses incurred by Xxxxx Fargo in connection with ongoing maintenance and operation of the Voting Trust, until the earliest to occur of (1) the termination of the Voting Trust; (2) Xxxxx Fargo’s transfer or sale of all of the VMTP Shares; (3) the Term Redemption Date; and (4) the termination of this Agreement pursuant to Section 7.6 hereof.
(d) With respect to the fees and expenses described in subsection (c) of this Section 2.2, the Fund will pay such fees and expenses within thirty (30) days of receipt of the associated invoice. For avoidance of doubt, the Fund’s responsibilities with respect to the fees and expenses described in subsections (b) (ii) and (c) are exclusive of each other.
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