Common use of Payments of Fees Clause in Contracts

Payments of Fees. (a) The Investment Manager, or the administrator for the Company, will furnish to the Company a statement (each, a “Fee Statement”) setting forth an estimate of the computation of (i) the Management Fee within 15 Business Days following the end of each month, and (ii) the Performance Fee within 30 days after the close of each Fiscal Year, or as soon as practicable thereafter. Payment of the Management Fee will be made on a quarterly basis following each March 31, June 30, September 30 and December 31 within 5 Business Days following the delivery to the Company of the Fee Statement for such relevant quarter end. Payment of the Performance Fee will be made within 5 Business Days following the delivery to the Company of the Fee Statement for such Fiscal Year. (b) The parties understand and agree that the Investment Manager may pay a portion of its Management Fee and/or Performance Fee to one or more sub-advisors selected by the Investment Manager. (c) The parties understand and agree that no fees shall be payable pursuant to this Agreement in respect of the Investment Grade Account.

Payments of Fees. (a) The Investment Manager, or the administrator for the Company, will furnish to the Company a statement (each, a “"Fee Statement”") setting forth an estimate of the computation of (i) the Management Fee within 15 Business Days following the end of each month, and (ii) the Performance Fee within 30 days after the close of each Fiscal Year, or as soon as practicable thereafter. Payment of the Management Fee will be made on a quarterly basis following each March 31, June 30, September 30 and December 31 within 5 Business Days following the delivery to the Company of the Fee Statement for such relevant quarter end. Payment of the Performance Fee will be made within 5 Business Days following the delivery to the Company of the Fee Statement for such Fiscal Year. (b) The parties understand and agree that the Investment Manager may pay a portion of its Management Fee and/or Performance Fee to one or more sub-advisors selected by the Investment Manager. (c) The parties understand and agree that no fees shall be payable pursuant to this Agreement in respect of the Investment Grade Account.