Advisor Refund definition
Examples of Advisor Refund in a sentence
Any required adjustments to the Second-Tier Management Compensation or the Advisor Refund shall be paid by the Company to the Advisor or by the Advisor to the Company, respectively, within 15 days after delivery of such computation to the Company by the Advisor, without demand, deduction, offset or delay (other than any deduction or offset for the liquidated sum of any Advisor Refund).
The Advisor shall pay the Advisor Refund, if any, with respect to a particular fiscal year within 15 days following the delivery to the Company of the written statement setting forth the computation of the Second-Tier Management Compensation for such year (or lesser portion thereof), without demand or delay.
Notwithstanding anything to the contrary, the Company shall not have any right to offset any amount whatsoever from any payments in Sections 6, 7, 10, 11 or otherwise and the Company’s obligation to make such payments shall survive the termination of this Agreement, except that the Company shall have the right to offset against the liquidated sum of any Advisor Refund.
The Company shall pay any amount payable pursuant to this Section 6.1 for such month within 15 days after the receipt of the written statement setting forth the computation of the First-Tier Management Compensation, or, at the Advisor’s election, the Advisor may deduct such amount from the Company’s account or accounts, in any case without demand, deduction, offset or delay (other than any deduction or offset for the liquidated sum of any Advisor Refund).
The Advisor shall calculate the Second-Tier Management Compensation, the Second-Tier Amount, any Remaining Amount and any Advisor Refund and deliver to the Company a written statement setting forth such computation in reasonable detail within 15 days after the end of each month, fiscal year and after the date of any termination of this Agreement, as applicable.
The Advisor Refund for any particular year shall not exceed the aggregate of the Second-Tier Amounts received by the Advisor during such year.
In connection with the Company’s annual audit (or any audit upon termination of this Agreement), the Advisor shall determine any year-end adjustments to the Second-Tier Management Compensation and Advisor Refund payable under this Section 6.2 and deliver to the Company a written statement setting forth such computation within 90 days after the end of each fiscal year.
On the other hand, if the aggregate of the Quarterly Incentive Amounts received by the Advisor during such year (but not taking into account any prior years) exceeds the Annual Incentive Amount, then the Advisor shall pay the Company such excess (the "Advisor Refund").
The Advisor shall calculate the Incentive Management Compensation, the Quarterly Incentive Amount, any Remaining Amount and any Advisor Refund and deliver to the Company a written statement setting forth such computation in reasonable detail within 15 days after the end of each fiscal quarter, fiscal year and after the date of any termination of this Agreement, as applicable.
Notwithstanding anything to the contrary, the Company shall not have any right to offset any amount whatsoever from any payments in Sections 6, 7, 10, 11 or otherwise and the Company's obligation to make such payments shall survive the termination of this Agreement, except that the Company shall have the right to offset against the liquidated sum of any Advisor Refund.