Administrative Services definition
Examples of Administrative Services in a sentence
For the CFTC Rule 4.5 Administrative Services provided hereunder, each Registered Fund agrees to pay, or to cause the Fund’s investment adviser to pay in accordance with the applicable Unitary Fee Agreement, and FAS hereby agrees to accept as full compensation for such services, an annual “Administrative Service Charge” of $125,000 per Registered Fund.
For purposes of implementing changes to the effective Administrative Services Fee rate, if any, changes to the effective rate will begin accruing on the first calendar day of the month following a calculated change equal to no less than 0.001% and only after such change remains static for at least 15 calendar days, provided the 15th day does not fall after approximately the 20th calendar day of the same month.
The Administrative Services Fee, Administrative Services Charge and Out of Pocket Expenses attributable to each Fund shall be accrued by such Fund and paid to FAS by the Fund or investment adviser, as applicable, no less frequently than monthly, and shall be paid daily upon request of FAS.
FAS will maintain detailed information about the Administrative Services Fee, Administrative Service Charge and Out of Pocket Expenses paid by each Fund.
Service fees paid by the Funds are in addition to other fees paid by the Funds such as those paid pursuant to an Agreement for Fund Accounting Services, Administrative Services, Transfer Agency Services and Custody Services Procurement and fees paid pursuant to each Fund’s Distributor’s Contract.