Common use of Partial Fees Clause in Contracts

Partial Fees. If the Management Fee payable to the Manager pursuant to this Section 7 begins to accrue before the end of any payment period or if this Agreement terminates before the end of any payment period, the Management Fee for the period from that date to the end of that payment period or from the beginning of that payment period to the date of termination, as the case may be, shall be prorated according to the proportion which the period bears to the full payment period in which the effectiveness or termination occurs.

Partial Fees. If the Management Fee and/or Incentive Fee payable to the Manager pursuant to this Section 7 begins begin to accrue before the end of any payment period or if this Agreement terminates before the end of any payment period, the Management Fee and/or Incentive Fee for the period from that date to the end of that payment period or from the beginning of that payment period to the date of termination, as the case may be, shall be prorated according to the proportion which the period bears to the full payment period in which the effectiveness or termination occurs.