Sub-Placement Agent Compensation: Feeder Fund Shares Sample Clauses

Sub-Placement Agent Compensation: Feeder Fund Shares. (a) Sub-Placement Agent shall in consideration of the services and facilities provided hereunder, be paid by Altegris and will accept as full payment therefor, a quarterly fee at an annual rate of up to 0.60% of the net asset value of the Feeder Fund’s Shares, determined and accrued as of the last day of each calendar month (before any repurchases of Feeder Fund Shares) for whom Sub-Placement Agent is the holder of record or with whom Sub-Placement Agent has a servicing relationship (the “Clients’ Shares”). Altegris will make its best efforts to pay such fee to Sub-Placement Agent within 45 days after the Transfer Agent has published the quarter-end net asset value of the Feeder Fund’s Shares for the relevant quarter. For purposes of determining the fees payable under this Section 4, the net asset value of the Clients’ Feeder Fund Shares will be computed in the manner specified in the Prospectus in connection with the computation of the net asset value of Shares for purposes of purchases and repurchases. A client that terminates its account with Sub-Placement Agent shall no longer be deemed a client for purposes of this Agreement as of the date of such termination (regardless of whether such former client remains a shareholder of the Fund) and Sub-Placement Agent shall neither be required to provide any further services hereunder to such former client nor be entitled to receive any further compensation hereunder with respect to such former Client’s Shares. It is expressly acknowledged and agreed by the parties that no compensation shall be paid to Sub-Placement Agent for services and facilities provided hereunder in respect of Shares of the Master Fund. (b) Sub-Placement Agent shall, if it elects to do so, receive sales charges up to the maximum percentage amount of the applicable net asset value of Feeder Fund Shares sold hereunder, as set forth in the Prospectuses, and subject to the rules of FINRA and applicable law. It is expressly acknowledged and agreed by the parties that Sub-Placement Agent shall not receive sales charges in any amount in respect of Master Fund Shares sold hereunder. (c) The rates of any sales charge, or servicing fee paid with respect to any Shares, including remaining payments, if any, with respect to outstanding Shares, are subject to change from time to time, upon 10 days’ written notice by Altegris, and any new orders placed after the effective date of such change will be subject to the rate(s) in effect at the time of receipt...