XXXXX XXXXX ADVISERS SENIOR FLOATING-RATE FUND
AMENDMENT TO
ADMINISTRATION AGREEMENT
AMENDMENT made this 21st day of December, 1998 to the Administration
Agreement dated February 20, 1998 (the "Agreement"), between Xxxxx Xxxxx
Advisers Senior Floating-Rate Fund, a Massachusetts business trust (the "Fund"),
and Xxxxx Xxxxx Management, a Massachusetts business trust (the
"Administrator").
Pursuant to Section 7 of the Agreement, the first paragraph of section 2.
is amended to read as follows:
2. COMPENSATION OF THE ADMINISTRATOR. For the services, payments and
facilities to be furnished hereunder by the Administrator, the Fund shall pay to
the Administrator on the last day of each month a fee not to exceed 7/240 of 1%
of the average daily gross assets of the Fund throughout the month. In
calculating the gross assets of the Fund for this purpose, there shall be
deducted therefrom all liabilities of the Fund except the principal amount of
any indebtedness for money borrowed including debt securities issued by the
Fund. Upon and after the investment by the Fund of substantially all of its
assets in another investment company with substantially the same investment
objective, policies and restrictions as the Fund, the Fund shall pay to the
Administrator on the last day of each month a fee not to exceed 7/240 of 1% of
that portion of the average daily gross assets of such other investment company
throughout the month which is attributable to the Fund's interest in such other
investment company. In calculating the gross assets of such other investment
company, all liabilities of the other investment company shall be deducted
except the principal amount of any indebtedness for money borrowed including
debt securities issued by the other investment company.
XXXXX XXXXX ADVISERS SENIOR XXXXX XXXXX MANAGEMENT
FLOATING-RATE FUND
By /s/ Xxxxx X. Xxxxxx By /s/ Xxxxxxx X. Xxxxx
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President, and not individually Vice President, and not individually
