Operating Expense Ratio definition
Operating Expense Ratio means Net Operating Expenses, as of the applicable period, expressed as a percentage of the average net assets of the Fund as of the relevant measurement date.
Operating Expense Ratio is calculated by dividing Operating Expenses, less organizational and offering expenses, base management and incentive fees owed to Advisor, and interest expense, by the Company’s net assets.
Operating Expense Ratio is calculated on a quarterly basis as a percentage of the Company’s average net assets and includes all expenses borne by the Company, except for Waived Fees, expenses accrued under the Expense Support and Conditional Reimbursement Agreements (as described below) and Organization and Offering Expenses.
Examples of Operating Expense Ratio in a sentence
In respect of a Required Expense Payment, no Reimbursement Payment for any quarter shall be made if and to the extent that the Fund’s Operating Expense Ratio (as defined below) (including the amount of the Reimbursement Payment) at the time of such Reimbursement Payment is greater than the Operating Expense Ratio at the time the Required Expense Payment was made.
More Definitions of Operating Expense Ratio
Operating Expense Ratio means all Other Operating Expenses borne by the Company as a percentage of net assets and (y) “Effective Rate of Distributions Per Share” means the annualized rate of regular cash distributions per share exclusive of return of capital and distribution rate reduction due to distribution and shareholder fees, if any.
Operating Expense Ratio means all expenses borne by the Fund, except for Organization Expenses, Offering Expenses, base management and incentive fees owed to the Adviser and interest expense, as a percentage of net assets.
Operating Expense Ratio means, in the context of determining an IPC, CFF’s consolidated expenditures for the Performance Year divided by CFF’s consolidated net income for the Performance Year.”
Operating Expense Ratio means the quotient obtained by dividing (A) the sum of Direct Costs, Overhead Allowance, commissions paid to third parties involved in the generation of premiums for MIIX Advantage, premium taxes, the consideration for Renewals (as defined in the Renewal Rights Agreement) pursuant to Section 3a of the Renewal Rights Agreement and net reinsurance costs, including ceding commission income, by (B) Net Written Premium.
Operating Expense Ratio for any calendar month is calculated by dividing all of the Company’s operating costs and expenses incurred, as determined in accordance with generally accepted accounting principles for investment companies, less organizational and offering expenses, base management and incentive fees owed to the Adviser, shareholder servicing and/or distribution fees, and interest expense, by the Company’s average net assets. The Company’s obligation to make a Reimbursement Payment shall automatically become a liability of the Company on the last business day of the applicable calendar month, except to the extent the Adviser has waived its right to receive such payment for the applicable month. In connection with any Reimbursement Payment, the Company may deliver a notice substantially in the form of Appendix A. The Reimbursement Payment for any calendar month shall be paid by the Company to the Adviser in any combination of cash or other immediately available funds.
Operating Expense Ratio means Other Operating Expenses, as of the applicable period, expressed as a percentage of the net assets of the Company as of the relevant measurement date. “Annualized Distribution Rate” means the per share amount of all regular cash distributions paid to stockholders of the Company, but excluding special cash distributions or the effect of any stock dividends paid by the Company, as of the applicable period, expressed as a percentage of the Company’s public offering price per share as of the relevant measurement date.
Operating Expense Ratio shall have the meaning ascribed to such term in Section 3.2(b) of this Agreement.