Common use of Payment of Service Fee Clause in Contracts

Payment of Service Fee. (a) The Adviser shall pay the Service Fee, payable in arrears at the end of each calendar quarter, as follows: to the Underwriter, a Service Fee in an amount equal to 0.0375% of the Base Amount. (b) For the purposes of this Agreement, "Managed Assets" means the total assets of the Fund (including any assets attributable to any leverage that may be outstanding) minus the sum of accrued liabilities (other than debt representing financial leverage). For this purpose the liquidation preference on any preferred shares will not constitute a liability.

Payment of Service Fee. (a) The Adviser shall pay the Service FeeFee to the Underwriter, payable in arrears at the end of each calendar quarter, as follows: to the Underwriter, a Service Fee in an amount equal to 0.0375% of the Base Amount. (b) For the purposes of this Agreement, "“Managed Assets" ” means the total assets of the Fund (including any assets attributable to any leverage that may be outstanding) minus the sum of accrued liabilities (other than debt representing financial leverage). For this purpose the liquidation preference on any preferred shares will not constitute a liability.

Payment of Service Fee. (a) The Adviser shall pay the Service Fee, payable in arrears at the end of each calendar quarter, as follows: to the Underwriter, a Service Fee in an amount equal to 0.0375% of the Base Amount. (b) For the purposes of this Agreement, "Managed Assets" means the total assets of the Fund Trust (including any assets attributable to any leverage that may be outstanding) minus the sum of accrued liabilities (other than debt representing financial leverage). For this purpose the liquidation preference on any preferred shares will not constitute a liability.