Common use of Waiver or Deferral of Fees Clause in Contracts

Waiver or Deferral of Fees. The Co-Advisor may elect to defer or waive all or a portion of the fee described in Section 3(a) hereof that would otherwise be paid to it. Prior to the payment of any fee to the Co-Advisor, the Advisor shall obtain written instructions from the Co-Advisor with respect to any deferral or waiver of any portion of such fees. Any portion of a deferred fee payable to the Co-Advisor and not paid over to the Co-Advisor with respect to any month, calendar quarter or year shall be deferred without interest and may be paid over in any such other month prior to the occurrence of the termination of this Agreement or a liquidity event, as the Co-Advisor may determine upon written notice to the Advisor.