Common use of Expenses of the Manager Clause in Contracts

Expenses of the Manager. The Manager is responsible for its own administrative expenses including, but not limited to, office space, telephone and salaries of personnel. Additionally, all fees and expenses related to any franchise, excise or other similar taxes required to maintain the existence of the Company or any Series (excluding, for the avoidance of doubt, any taxes imposed on or determined by reference to the net profits or taxable income of the Company or any Series to which the Company, a Series or the Members may be subject) and regulatory filings (including, but not limited to, any “blue sky” filing fees and expenses, and governmental registration, filing and licensing costs and fees relating to each Series) will be the responsibility of the Manager (collectively, “Manager Expenses”).