Management and Incentive Fees Clause Samples
Management and Incentive Fees. (a) The Client shall pay GAJL a monthly Management Fee equal to a percentage of the Net Asset Value of the Account. as described in the Initial Investment and Client Fee Election Form attached as Appendix A. The term "Net Asset Value" of the Account shall mean the value as of any date of the assets deemed to be under management as agreed to by the Client and GAJL (including, but not limited to, all cash and cash equivalents, valued at cost, accrued interest. capital committed by the Client but not actually deposited in the Account. any "notional" funds, and the market value of all open Contracts), less total liabilities of the Account (including the accrued portion of any fees), excluding accrued Management and Incentive Fees. The current market value of all open Contracts shall be as indicated by the settlement price determined by the exchanges or clearinghouses with which such positions are maintained. If there are no trades on the date of the calculation due to the operation of the daily price fluctuation limits, the closing of the exchange on which positions are maintained, or otherwise, the Contract will be valued at the settlement price as determined by the exchange. The Management Fee paid to GAJL for any month will be pro-rated for any additions to or withdrawals from the Account during the month and for any months during which GAJL did not manage the account for a full month.
(b) The Client shall pay GAJL the Incentive Fee equal to a percentage of the "New Trading Profits" of the Account for each Incentive Fee period as specified in the Initial Investment and Client Fee Election Form. The term "New Trading Profits" means the excess (if any) of(i) Cumulative Net Profits as of the end of the applicable Incentive Fee period over (ii) the highest past value of Cumulative Net Profits since inception of the Account. "Cumulative Net Profits", which are calculated at the end of each Incentive Fee period, means cumulative net realized and unrealized trading profits, after deduction of brokerage commissions paid and accrued, floor brokerage fees, "give-up" or transfer fees (subject to a maximum of $*** per round-tum for such brokerage related commissions and fees, unless otherwise agreed in writing by GAJL) and any other fees (including the Management Fee), costs, and expenses directly related to the Account and the trading activities in the Account, but exclusive of any Incentive Fees previously paid and any interest earned. Any trading losses being carrie...
Management and Incentive Fees. 5.1 During the term of this Agreement, MACC will pay Atlas monthly in arrears a management fee equal to 2.5% per annum of the Capital Under Management, but in no event shall the management fee be more than either: (i) 2.5% per annum of the Assets Under Management, or (ii) 7.5% of Regulatory Capital.
5.2 During the term of this Agreement MACC shall pay to Atlas an incentive fee determined as specified in this Section 5.2.
(a) The incentive fee shall be calculated as follows:
(i) The amount of the fee shall be 20.0% of the Net Capital Gains, before taxes, resulting from the disposition of investments in MACC's Portfolio Companies or resulting from the disposition of other assets or property of MACC managed by Atlas pursuant to the terms hereof.
(ii) Net Capital Gains, before taxes, shall be calculated annually at the end of each fiscal year for the purpose of determining the earned incentive fee, unless this Agreement is terminated prior to the completion of any fiscal year, then such calculation shall be made at the end of such shorter period. A preliminary calculation shall be made on the last business day of each of the three fiscal quarters preceding the end of each fiscal year for the purpose of determining the incentive fee payable under Section 5.2(c)(i) below. Capital Losses and Realized Capital Gains shall not be cumulative (i.e., no Capital Losses nor Realized Capital Gains are carried forward into any subsequent fiscal year).
(iii) Notwithstanding anything herein to the contrary, the assets on which the incentive fee shall be calculated shall include all assets owned by MACC prior to the time of the mergers of MorAmerica Financial Corporation and ▇▇▇▇▇▇ Plan Liquidation Company into the Company.
(b) Upon termination of this Agreement, all earned but unpaid incentive fees shall be immediately due and payable; provided, however, that incentive fees earned with respect to non-cash Realized Capital Gains shall not be due and owing to InvestAmerica until the cash is received by MACC.
(c) Payment of incentive fees shall be made as follows:
(i) To the extent payable, the incentive fee shall be paid, in cash, in arrears by the last business day of each fiscal quarter in the fiscal year. The incentive fee shall be retroactively adjusted as soon as practicable following completion of valuations at the end of each fiscal year in which this Agreement is in effect to reflect the actual incentive fee due and owing to Atlas, and if such adjustment reveals that A...
Management and Incentive Fees. Arrangements shall be in place whereby the Company receives one hundred percent (100%) (as adjusted for any amounts received by any third party marketer as set forth in Section 5.11(a)(ii) of the Company Disclosure Letter) of all gross management fees and incentive allocations or fees payable by the Funds after the Closing, or payable by another fund or investment vehicle or account of substantially the same investment style as the Funds after the Closing.
Management and Incentive Fees. 5.1 During the Transitional Period, Eudaimonia will pay InvestAmerica monthly in arrears a management fee (the “Transitional Management Fee”) equal to seventy-five percent (75%) of the management fee actually paid by MACC to Eudaimonia pursuant to the Eudaimonia Advisory Agreement attributable to Existing Portfolio Companies as of the Effective Date. For the remainder of the term of this Agreement and to the extent the Agreement is extended pursuant to the terms of this Agreement and the terms of the 1940 Act, Eudaimonia will pay InvestAmerica monthly in arrears a management fee (the “Management Fee”) equal to fifty percent (50%) of the management fee actually paid by MACC to Eudaimonia pursuant to the Eudaimonia Advisory Agreement attributable to Existing Portfolio Companies as of the Effective Date. Eudaimonia shall arrange for the Transitional Management Fee or the Management Fee, as applicable, to be paid to InvestAmerica directly by MACC on the same day as MACC pays Eudaimonia its management fee under the Eudaimonia Advisory Agreement, provided that Eudaimonia has received payment of its management fee from MACC pursuant to the terms of the Eudamonia Advisory Agreement. Payments of Transitional Management Fees or Management Fees that are delayed because of failure of MACC to pay a management fee to Eudaimonia for the corresponding period shall be made promptly upon Eudaimonia receiving such management fee from MACC. The Transitional Management Fee shall stop accruing as of the last day of the Transitional Period. The Management Fee shall stop accruing on the date that this Agreement expires or is terminated. Upon expiration or termination of this Agreement, all earned but unpaid Transitional Management Fees and Management Fees shall be immediately due and payable.
5.2 During the term of this Agreement Eudaimonia shall pay to InvestAmerica an incentive fee determined as specified in this Section 5.2 (the “Incentive Fee”).
(a) The Incentive Fee to be paid to InvestAmerica shall consist of one hundred percent (100%) of the incentive fee actually paid by MACC to Eudaimonia pursuant to the Eudaimonia Advisory Agreement attributable to Existing Portfolio Companies as of the Effective Date.
(b) Upon termination of this Agreement, all earned but unpaid Incentive Fees shall be immediately due and payable.
(c) Payment of Incentive Fees shall be made as follows:
(i) To the extent payable, Incentive Fees shall be paid, in cash, in arrears on the last business day...
Management and Incentive Fees. Arrangements shall be in place whereby (i) the Company receives one hundred percent (100%) (as adjusted for any amounts received by any third party marketer as set forth in Section 5.11(a)(ii) of the Company Disclosure Letter) of all gross incentive allocations made payable by the Funds after the Closing and (ii) an Affiliate of the Purchaser in which CAM is admitted as the sole non-managing member on terms materially the same as those applicable to the Sellers under the Amended LLC Agreement receives one hundred percent (100%) (as adjusted for any amounts received by any third party marketer as set forth in Section 5.11(a)(ii) of the Company Disclosure Letter) of all gross management fees payable by the Funds after the Closing.
Management and Incentive Fees. 5.1 During the term of this Agreement, the Company will pay InvestAmerica monthly in arrears a management fee equal to 2.5% per annum of the Assets Under Management. The Management fee shall be calculated on a non-consolidated basis, excluding MACC.
5.2 During the term of this Agreement the Company shall pay to InvestAmerica an incentive fee determined as specified in this Section 5.2. The incentive fee shall be calculated on a nonconsolidated basis, excluding MACC.
(a) The incentive fee shall be calculated as follows:
(i) The amount of the fee shall be 13.4% of the Net Capital Gains, before taxes, resulting from the disposition of investments in the Company's Portfolio Companies or resulting from the disposition of other assets or property of the Company managed by InvestAmerica pursuant to the terms hereof.
(ii) Net Capital Gains, before taxes, shall be calculated annually at the end of each fiscal year for the purpose of determining the earned incentive fee, unless this Agreement is terminated prior to the completion of any fiscal year, then such
Management and Incentive Fees. 4.1 During the term of this Agreement, and to the extent the Agreement is extended pursuant to the terms of this Agreement and the terms of the 1940 Act, Atlas will pay InvestAmerica a Management Fee in the following amounts: Period Management Fee Effective Date through February 28, 2005 $ 325,000 March 1, 2005 through February 28, 2006 250,000 March 1, 2006 through February 28, 2007 125,000 March 1, 2007 through February 28, 2008 60,000 March 1, 2008 through February 28, 2009 60,000 The Management Fee shall be paid to InvestAmerica in equal monthly installments within fifteen (15) days after the end of each calendar month for Services provided during the previous month, provided that Atlas has received payment of its management fee from MACC and MorAmerica pursuant to the terms of its agreements with MACC and MorAmerica. Payments of Management Fees that are delayed because of failure of MACC or MorAmerica to pay a management fee to Atlas for the corresponding period shall be made promptly upon Atlas receiving such management fee from MACC or MorAmerica. The Management Fee shall stop accruing on the date that this Agreement expires or is terminated. Upon expiration or termination of this Agreement, all earned but unpaid Management Fees shall be immediately due and payable.
4.2 During the term of this Agreement Atlas shall pay to InvestAmerica an Incentive Fee determined as follows:
(a) The Incentive Fee to be paid to InvestAmerica from the Effective Date through February 28, 2008 shall consist of seventy percent (70%) of the incentive fee actually paid by MACC and MorAmerica to Atlas pursuant to the respective Investment Advisory Agreements between Atlas and MACC and MorAmerica attributable to Existing Portfolio Companies as of the Effective Date. The remaining thirty (30%) percent of the incentive fee actually paid by MACC and MorAmerica attributable to Existing Portfolio Companies as of the Effective Date shall belong to Atlas.
(b) The Incentive Fee to be paid to InvestAmerica from the March 1, 2008 through February 28, 2009 shall consist of fifty percent (50%) of the incentive fee actually paid by MACC and MorAmerica to Atlas pursuant to the respective Investment Advisory Agreements between Atlas and MACC and MorAmerica attributable to Existing Portfolio Companies as of the Effective Date. The remaining fifty (50%) percent of the incentive fee actually paid by MACC and MorAmerica attributable to Existing Portfolio Companies as of the Effective Date shal...
Management and Incentive Fees. Defer receipt of, allow the set off against or waive payment of any of the management fees or incentive fees under the Management Agreement notwithstanding any provisions therein to the contrary.
Management and Incentive Fees. Arrangements shall be in place whereby the Company receives 100% of all gross management fees and incentive allocations or fees (net of any expenses paid in accordance with Section 2.1(b)(iii) hereof) payable by the Funds or payable by another fund or investment vehicle or account of substantially the same investment style as the Funds.