Common use of Provision of Services by Third Parties Clause in Contracts

Provision of Services by Third Parties. The Administrator shall, to the extent it determines that it would be advisable in connection with or incidental to the activities contemplated hereby, arrange for and coordinate the services of other professionals, experts and consultants to provide any or all of the Services, in which case, the costs and expenses of such third parties for providing such services shall be borne by the Administrator other than as set forth in Section 3; it being understood that the Administrator shall not charge to the Issuer any fees in addition thereto with respect to such outsourced Services that are described in Section 1(a)(i) and Section 1(a)(ii), but the Administrator shall be entitled to reimbursement for third party costs incurred in connection with Services described in Section 1(a)(iii) as set forth in Section 3(b).

Appears in 3 contracts

Samples: Administrative Services Agreement (Masterworks 001, LLC), Administrative Services Agreement (Masterworks 001, LLC), Administrative Services Agreement (Masterworks 001, LLC)

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Provision of Services by Third Parties. The Administrator Manager shall, to the extent it determines that it would be advisable in connection with or incidental to the activities contemplated hereby, arrange for and coordinate the services of other professionals, experts and consultants to provide any or all of the Services, in which case, the costs and expenses of such third parties for providing such services shall be borne by the Administrator Manager other than as set forth in Section 3; it being understood that the Administrator Manager shall not charge to the Issuer any fees in addition thereto with respect to such outsourced Services that are described in Section 1(a)(i) and Section 1(a)(ii), but the Administrator Manager shall be entitled to reimbursement for third party costs incurred in connection with Services described in Section 1(a)(iii) as set forth in Section 3(b).

Appears in 3 contracts

Samples: Administrative Services Agreement (Masterworks 001, LLC), Administrative Services Agreement (Masterworks 001, LLC), Administrative Services Agreement (Masterworks 001, LLC)

Provision of Services by Third Parties. The Administrator shall, to the extent it determines that it would be advisable in connection with or incidental to the activities contemplated hereby, arrange for and coordinate the services of other professionals, experts and consultants to provide any or all of the Services, in which case, the costs and expenses of such third parties for providing such services shall be borne by the Administrator other than as set forth in Section 3; it being understood that the Administrator shall not charge to the Issuer or MW Cayman any fees in addition thereto with respect to such outsourced Services that are described in Section 1(a)(i) and Section 1(a)(ii), but the Administrator shall be entitled to reimbursement for third party costs incurred in connection with Services described in Section 1(a)(iii) as set forth in Section 3(b).

Appears in 1 contract

Samples: Administrative Services Agreement (Masterworks 002, LLC)

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Provision of Services by Third Parties. The Administrator Manager shall, to the extent it determines that it would be advisable in connection with or incidental to the activities contemplated hereby, arrange for and coordinate the services of other professionals, experts and consultants to provide any or all of the Services, in which case, the costs and expenses of such third parties for providing such services shall be borne by the Administrator Manager other than as set forth in Section 3; it being understood that the Administrator Manager shall not charge to the Issuer any fees in addition thereto with respect to such outsourced Entity-Level Services that are described in Section 1(a)(i) and Section 1(a)(ii), but the Administrator Manager shall be entitled to reimbursement for third party costs incurred in connection with Non-Routine Services described in Section 1(a)(iii1(a)(ii) as set forth in Section 3(b).

Appears in 1 contract

Samples: Administrative Services Agreement (Vault Holding 1, LLC)

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