Payment of Management Fees. At any time that (x) an Event of Default or an Unmatured Event of Default shall have occurred and be continuing with respect to such Fund or Portfolio and (y) Loans are outstanding with respect to such Fund or Portfolio, not pay, or cause to be paid, any management or advisory fees of any type in respect of such Fund or Portfolio to its Adviser, whether pursuant to the terms of an investment advisory agreement or not; provided, however, that notwithstanding the foregoing, such Fund or Portfolio shall not be prohibited to record on its financial statement accruals with respect to such management or advisory fees.
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Samples: Credit Agreement (Legg Mason Global Trust Inc), Credit Agreement (Legg Mason Light Street Trust Inc), Credit Agreement (Legg Mason Income Trust Inc)
Payment of Management Fees. At any time that (x) an Event of Default or an Unmatured Event of Default shall have occurred and be continuing with respect to such Fund or Portfolio and (y) Loans are outstanding with respect to such Fund or Portfolio, not pay, or cause to be paid, any management or advisory fees of any type in respect of such Fund or Portfolio to its Adviser, whether pursuant to the terms of an investment advisory agreement or not; providedPROVIDED, howeverHOWEVER, that notwithstanding the foregoing, such Fund or Portfolio shall not be prohibited to record on its financial statement accruals with respect to such management or advisory fees.
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