Common use of The Administration Fee will Clause in Contracts

The Administration Fee will. (a) be charged annually by the Manager or the applicable Associate of the Manager to Portfolio Companies for provision of administrative services; (b) accrue on a daily basis and be paid in arrears at the end of each quarter of the Service’s year, or on Redemption, if earlier; and (c) remain payable to the Manager by each Portfolio Company that enters into an agreement with that entity in accordance with the terms thereof, notwithstanding any Redemption Request served pursuant to Clause 4.8 provided that the amount payable upon Redemption (and deducted from the Redemption sum paid to the Investor) will be calculated as the pro rata portion of the full Administration Fee that has accrued on a daily basis since the last quarterly payment thereof.

The Administration Fee will. (a) be charged annually by the Manager or the applicable Associate of the Manager to Portfolio Companies for provision of administrative services; (b) accrue on a daily basis and be paid in arrears at the end of each quarter of the Service’s year, or on Redemption, if earlier; and (c) remain payable to the Manager by each Portfolio Company that enters into an agreement with that entity in accordance with the terms thereof, notwithstanding any Redemption Request served pursuant to Clause 4.8 4.9 provided that the amount payable upon Redemption (and deducted from the Redemption sum paid to the Investor) will be calculated as the pro rata portion of the full Administration Fee that has accrued on a daily basis since the last quarterly payment thereof.