Other Goods or Services. (a) The Company may accept other goods or other services provided by the Advisor in connection with the operation of assets, provided that: (i) the Advisor determines such self-dealing arrangement is in the best interest of the Company; (ii) the terms pursuant to which all such goods or services are provided to the Company by the Advisor shall be embodied in a written contract, the material terms of which must be fully disclosed to the Shareholders; (iii) the written contract may only be modified by vote of a majority of then outstanding Common Shares and (iv) the contract shall contain a clause allowing termination without penalty on sixty (60) days’ prior notice. Without limitation to the foregoing, arrangements to provide such goods or other services must meet all of the following criteria: (X) the Advisor must be independently engaged in the business of providing such goods or services to persons other than its Affiliates and at least thirty-three percent (33%) of the Advisor’s associated gross revenues must come from persons other than its Affiliates; (Y) the compensation, price or fee charged for providing such goods or services must be comparable and competitive with the compensation, price or fee charged by persons other than the Advisor in the same geographic location who provide comparable goods or services which could reasonably be made available to the Company; and (Z) except in extraordinary circumstances, the compensation and other material terms of the arrangement must be fully disclosed to the Shareholders. Extraordinary circumstances are limited to instances when immediate action is required and the goods or services are not immediately available from persons other than the Advisor.
Appears in 5 contracts
Samples: Agreement and Declaration of Trust (Kennedy Lewis Capital Co), Agreement and Declaration of Trust (Kennedy Lewis Capital Co), Agreement and Declaration (Kennedy Lewis Capital Co)
Other Goods or Services. (a) The Company may accept other goods or other services provided by the Advisor Adviser in connection with the operation of assets, provided that: (i) the Advisor Adviser determines such self-dealing arrangement is in the best interest of the Company; (ii) the terms pursuant to which all such goods or services are provided to the Company by the Advisor Adviser shall be embodied in a written contract, the material terms of which must be fully disclosed to the ShareholdersShareholders in the Prospectus; (iii) the written contract may only be modified by vote of a majority of then outstanding Common Shares and (iv) the contract shall contain a clause allowing termination without penalty on sixty (60) days’ prior notice. Without limitation to the foregoing, arrangements to provide such goods or other services must meet all of the following criteria: (X) the Advisor Adviser must be independently engaged in the business of providing such goods or services to persons other than its Affiliates and at least thirty-three percent (33%) of the AdvisorAdviser’s associated gross revenues must come from persons other than its Affiliates; (Y) the compensation, price or fee charged for providing such goods or services must be comparable and competitive with the compensation, price or fee charged by persons other than the Advisor Adviser in the same geographic location who provide comparable goods or services which could reasonably be made available to the Company; and (Z) except in extraordinary circumstances, the compensation and other material terms of the arrangement must be fully disclosed to the ShareholdersShareholders in the Prospectus. Extraordinary circumstances are limited to instances when immediate action is required and the goods or services are not immediately available from persons other than the AdvisorAdviser.
Appears in 4 contracts
Samples: Agreement and Declaration of Trust (TPG Twin Brook Capital Income Fund), Agreement and Declaration of Trust (AG Twin Brook Capital Income Fund), Agreement and Declaration of Trust (AG Twin Brook Capital Income Fund)
Other Goods or Services. (a) The Company Trust may accept other goods or other services provided by the Advisor Adviser in connection with the operation of assets, subject to the restrictions contained in the 1940 Act, provided that: (i) the Advisor Adviser determines such self-dealing arrangement is in the best interest of the CompanyTrust; (ii) the terms pursuant to which all such goods or services are provided to the Company Trust by the Advisor Adviser shall be embodied in a written contract, the material terms of which must be fully disclosed to the Shareholders; (iii) the written contract may only be modified by vote of holders of a majority of the then outstanding Common Shares entitled to vote on the matter; and (iv) the contract shall contain a clause allowing termination without penalty on sixty (60) days’ prior notice. Without limitation to the foregoing, arrangements to provide such goods or other services must meet all of the following criteria: (X) the Advisor Adviser must be independently engaged in the business of providing such goods or services to persons other than its Affiliates and at least thirty-three percent (33%) of the AdvisorAdviser’s associated gross revenues must come from persons other than its Affiliates; (Y) the compensation, price or fee charged for providing such goods or services must be comparable and competitive with the compensation, price or fee charged by persons other than the Advisor Adviser in the same geographic location who provide comparable goods or services which could reasonably be made available to the CompanyTrust; and (Z) except in extraordinary circumstances, the compensation and other material terms of the arrangement must be fully disclosed to the Shareholders. Extraordinary circumstances are limited to instances when immediate action is required and the goods or services are not immediately available from persons other than the AdvisorAdviser.
Appears in 3 contracts
Samples: Agreement and Declaration of Trust (BlackRock Private Credit Fund), Agreement and Declaration of Trust (BlackRock Private Credit Fund), Agreement and Declaration of Trust (BlackRock Private Credit Fund)
Other Goods or Services. (a) The Company may accept other goods or other services provided by the Advisor Adviser in connection with the operation of assets, provided that: (i) the Advisor Adviser determines such self-dealing arrangement is in the best interest of the Company; (ii) the terms pursuant to which all such goods or services are provided to the Company by the Advisor Adviser shall be embodied in a written contract, the material terms of which must be fully disclosed to the ShareholdersShareholders in the Prospectus; (iii) the written contract may only be modified by vote of a majority of then outstanding Common Shares Shares; and (iv) the contract shall contain a clause allowing termination without penalty on sixty (60) days’ prior notice. Without limitation to the foregoing, arrangements to provide such goods or other services must meet all of the following criteria: (X) the Advisor Adviser must be independently engaged in the business of providing such goods or services to persons other than its Affiliates and at least thirty-three percent (33%) of the AdvisorAdviser’s associated gross revenues must come from persons other than its Affiliates; (Y) the compensation, price or fee charged for providing such goods or services must be comparable and competitive with the compensation, price or fee charged by persons other than the Advisor Adviser in the same geographic location who provide comparable goods or services services, which could reasonably be made available to the Company; and (Z) except in extraordinary circumstances, the compensation and other material terms of the arrangement must be fully disclosed to the ShareholdersShareholders in the Prospectus. Extraordinary circumstances are limited to instances when immediate action is required and the goods or services are not immediately available from persons other than the AdvisorAdviser.
Appears in 2 contracts
Samples: Third Amended And (PGIM Private Credit Fund), Agreement and Declaration (PGIM Private Credit Fund)
Other Goods or Services. (a) The Company may accept other goods or other services provided by the Advisor Adviser in connection with the operation of assets, provided that: (i) the Advisor Adviser determines such self-dealing arrangement is in the best interest of the Company; (ii) the terms pursuant to which all such goods or services are provided to the Company by the Advisor Adviser shall be embodied in a written contract, the material terms of which must be fully disclosed to the Shareholders; (iii) the written contract may only be modified by vote of a majority of then outstanding Common Shares and (iv) the contract shall contain a clause allowing termination without penalty on sixty (60) days’ prior notice. Without limitation to the foregoing, arrangements to provide such goods or other services must meet all of the following criteria: (X) the Advisor Adviser must be independently engaged in the business of providing such goods or services to persons other than its Affiliates and at least thirty-three percent (33%) of the AdvisorAdviser’s associated gross revenues must come from persons other than its Affiliates; (Y) the compensation, price or fee charged for providing such goods or services must be comparable and competitive with the compensation, price or fee charged by persons other than the Advisor Adviser in the same geographic location who provide comparable goods or services which could reasonably be made available to the Company; and (Z) except in extraordinary circumstances, the compensation and other material terms of the arrangement must be fully disclosed to the Shareholders. Extraordinary circumstances are limited to instances when immediate action is required and the goods or services are not immediately available from persons other than the AdvisorAdviser.
Appears in 1 contract
Samples: Bain Capital Private Credit
Other Goods or Services. (a) The Company Trust may accept other goods or other services provided by the Advisor Adviser in connection with the operation of assets, subject to the restrictions contained in the 1940 Act, provided that: (i) the Advisor Adviser determines such self-dealing arrangement is in the best interest of the CompanyTrust; (ii) the terms pursuant to which all such goods or services are provided to the Company Trust by the Advisor Adviser shall be embodied in a written contract, the material terms of which must be fully disclosed to the Shareholders; (iii) the written contract may only be modified by vote of a majority of then outstanding Common Shares and (iv) the contract shall contain a clause allowing termination without penalty on sixty (60) days’ prior notice. Without limitation to the foregoing, arrangements to provide such goods or other services must meet all of the following criteria: (X) the Advisor Adviser must be independently engaged in the business of providing such goods or services to persons other than its Affiliates and at least thirty-three percent (33%) of the AdvisorAdviser’s associated gross revenues must come from persons other than its Affiliates; (Y) the compensation, price or fee charged for providing such goods or services must be comparable and competitive with the compensation, price or fee charged by persons other than the Advisor Adviser in the same geographic location who provide comparable goods or services which could reasonably be made available to the CompanyTrust; and (Z) except in extraordinary circumstances, the compensation and other material terms of the arrangement must be fully disclosed to the Shareholders. Extraordinary circumstances are limited to instances when immediate action is required and the goods or services are not immediately available from persons other than the AdvisorAdviser.
Appears in 1 contract
Samples: Agreement and Declaration of Trust (BlackRock Private Credit Fund)