Mandate Rate Clause Samples
The Mandate Rate clause defines the specific interest rate or fee that applies to certain financial obligations under an agreement, typically when a party is in default or when a particular event triggers its application. In practice, this rate may be higher than the standard rate and is often used to calculate additional charges on overdue payments or outstanding amounts. Its core function is to incentivize timely performance and compensate the non-defaulting party for the increased risk or administrative burden associated with late payments.
Mandate Rate. The Mandate Rate shall be based upon the monthly average of the net assets of the funds in the Equity asset class, as indicated on Master Schedule A to Management Contracts, as may be updated from time to time, which is hereby incorporated by reference into this Contract, (computed in the manner set forth in the Trust’s Declaration of Trust or other organizational document) determined as of the close of business on each business day throughout the month. The Mandate Rate may vary by class. The Mandate Rate shall be determined on a cumulative basis pursuant to the schedule set forth in Schedule 1 of this Contract.
Mandate Rate. The Mandate Rate for each class of the Fund shall be calculated pursuant to the table below.