Common use of Asset Based Fees Clause in Contracts

Asset Based Fees. First $2.0 Billion in aggregate net assets of all Funds 5.00 bps Next $1.0 Billion in aggregate net assets of all Funds 2.75 bps Next $7.0 Billion in aggregate net assets of all Funds 1.50 bps Above $10.0 Billion in aggregate net assets of all Funds 0.375 bps Each Trust shall pay to Citi, on the first business day of each month, an administration fee computed at the annual rate set forth below. For the avoidance of doubt, for the purposes of determining the break points, the assets of both Trusts are combined, however each Trust only pays fees on its own assets.