Common use of Annual Fee Increase Clause in Contracts

Annual Fee Increase. Commencing on the two-year anniversary of the Effective Date and annually thereafter, the Service Provider may annually, with the Client’s written consent, increase the fixed fees and other fees expressed as stated dollar amounts in this Agreement by up to an amount equal to the greater of: (a) the most recent annual percentage increase in consumer prices for services as measured by the United States Consumer Price Index entitled “All Services Less Rent of Shelter” or a similar index should such index no longer be published, and (b) 10%. Service Provider shall provide the calculations behind any such increase to Client. Should the Client not consent to a fee increase described in this Section, the fee increase will not go into effect and either Party may terminate the Agreement in accordance with Section 10(B)(i) of the Agreement. For the avoidance of doubt, Liquidated Damages shall not apply if the Client terminates the Agreement in accordance with this Section. AMENDMENT made as of the 1st day of April, 2012, by and among Blackstone Alternative Alpha Fund, Blackstone Alternative Alpha Master Fund, each acting on its own behalf separately from the other and not jointly or jointly and severally with the other (each, the “Client”) and Citi Fund Services Ohio, Inc. (“Service Provider”), to that certain Services Agreement, dated as of April 1, 2012, between each Client and Service Provider (as amended and in effect on the date hereof, the “Agreement”). All capitalized terms used but not defined herein shall have the meanings given to them in the Agreement.