Administrative Support Services Fees Clause Samples
The "Administrative Support Services Fees" clause defines the charges that a party must pay for administrative or support services provided under an agreement. Typically, this clause outlines the types of services covered—such as billing, record-keeping, or general office support—and specifies how and when fees are calculated and paid, for example, as a flat monthly rate or based on usage. Its core function is to ensure transparency and predictability regarding administrative costs, helping both parties understand their financial obligations and avoid disputes over service charges.
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Administrative Support Services Fees. Within forty-five (45) days of the end of each calendar quarter or at such other period as deemed appropriate by the Distributor, the Fund will make payments in the aggregate amount of up to 0.25% on an annual basis of the average during the period of the aggregate net asset value of the Shares computed as of the close of each business day (the “Service Fee”). Such Service Fee payments received from the Fund will compensate the Distributor for providing administrative support services with respect to Accounts. The administrative support services in connection with Accounts may include, but shall not be limited to, the administrative support services that a Recipient may render as described in Section 3(b)(i) below.