Common use of Additional Appointments Clause in Contracts

Additional Appointments. 21.1 If, at any time, the Board, after consultation with the Investment Adviser, genuinely believes, acting reasonably in the light of all the circumstances at the time of which they are aware, that the Company may not achieve a 80% investment level in satisfactory Venture Capital Investments in the period or periods required by the ITA, the Company shall be entitled to appoint, in addition to the Investment Adviser, one or more third parties to manage or advise in respect of the investment of the whole or some part of its uninvested funds on such reasonable terms as the Board may approve ("additional adviser(s)"). 21.2 The terms of any such appointment may provide for the payment to such additional adviser(s) of: 21.2.1 such management fees which the Board, acting reasonably, consider appropriate in all circumstances; together with 21.2.2 such amount of the incentive fee payable under the separate incentive agreement of even date which would otherwise have been payable to the Investment Adviser in a ratio of the value of the respective Investments made by the Investment Adviser and any additional adviser (s) at the time of calculation of any payment under that agreement; 21.2.3 provided that for the purpose of these calculations, investments shall be valued at current valuation (whether cost or otherwise) net of any repayments or redemptions. If any appointments are made under the provisions of clause 21.1 above, the Investment Adviser will not be entitled to an annual adviser fee (as calculated in accordance with the provisions of Schedule 2, Part A) in relation to any Investments made by such additional adviser (s). The balance of the overall management fee shall be paid to the Investment Adviser.

Additional Appointments. 21.1 22.1 If, at any time, the Board, after consultation with the Investment Adviser, genuinely believes, acting reasonably in the light of all the circumstances at the time of which they are aware, that the Company may not achieve a 80% investment level in satisfactory Venture Capital Investments in the period or periods required by the ITA, the Company shall be entitled to appoint, in addition to the Investment Adviser, one or more third parties to manage or advise in respect of the investment of the whole or some part of its uninvested funds proceeds on such reasonable terms as the Board may approve ("additional adviser(s)"). 21.2 22.2 The terms of any such appointment may provide for the payment to such additional adviser(s) of: 21.2.1 22.2.1 such management fees which the Board, acting reasonably, consider appropriate in all circumstances; together with 21.2.2 22.2.2 such amount of the incentive fee payable under the separate incentive agreement of even date which would otherwise have been payable to the Investment Adviser in a ratio of the value of the respective Investments made by the Investment Adviser and any additional adviser (smanager(s) at the time of calculation of any payment under that agreement; 21.2.3 ; provided that for the purpose of these calculations, investments shall be valued at current valuation (whether cost or otherwise) net of any repayments or redemptions. If any appointments are made under the provisions of clause 21.1 22.1 above, the Investment Adviser will not be entitled to an annual adviser management fee (as calculated in accordance with the provisions of Schedule 23, Part A1) in relation to any Investments made by such additional adviser (sadviser(s). The balance of the overall management fee shall be paid to the Investment Adviser.

Additional Appointments. 21.1 17.1 If, at any time, the Board, after consultation with the Investment Adviser, genuinely believes, acting reasonably in the light of all the circumstances at the time of which they are aware, that the Company may not achieve a 80% investment level in satisfactory Venture Capital Investments in the period or periods required by the ITA, the Company shall be entitled to appoint, in addition to the Investment Adviser, one or more third parties to manage or advise in respect of the investment of the whole or some part of its uninvested funds proceeds on such reasonable terms as the Board may approve ("additional adviser(s)"). 21.2 17.2 The terms of any such appointment may provide for the payment to such additional adviser(sadviser (s) of: 21.2.1 17.2.1 such management fees which the Board, acting reasonably, consider appropriate in all circumstances; together with 21.2.2 17.2.2 such amount of the incentive fee payable under the separate incentive agreement of even date which would otherwise have been payable to the Investment Adviser in a ratio of the value of the respective Investments made by the Investment Adviser and any additional adviser (smanager(s) at the time of calculation of any payment under that agreement; 21.2.3 ; provided that for the purpose of these calculations, investments shall be valued at current valuation (whether cost or otherwise) net of any repayments or redemptions. If any appointments are made under the provisions of clause 21.1 17.1 above, the Investment Adviser will not be entitled to an annual adviser management fee (as calculated in accordance with the provisions of Schedule 2, Part A) in relation to any Investments made by such additional adviser (s). The balance of the overall management fee shall be paid to the Investment Adviser.