BlackRock Advisor definition
Examples of BlackRock Advisor in a sentence
For the avoidance of doubt, no additional approvals shall be required in connection with any services provided by the BlackRock Advisor or its Affiliates that are specifically contemplated by this Agreement and for which it will be paid and reimbursed in accordance with Section 10 and Section 11.
The Trust, on the one hand, and the BlackRock Advisor, on the other, are not partners or joint venturers with each other, and nothing in this Agreement shall be construed to make them such partners or joint venturers or impose any liability as such on either of them.
If the BlackRock Advisor elects to receive any portion of its Management Fee or Performance Fee in Class E Common Shares, the BlackRock Advisor or any subsequent transferee thereof may elect to have the Trust repurchase such Class E Common Shares from the BlackRock Advisor or such transferee at a later date at a repurchase price per Class E Common Share equal to the then applicable NAV per Class E Common Share.
This Agreement shall be binding on successors to the Trust resulting from a Change of Control or sale of all or substantially all the assets of the Trust, and shall likewise be binding on any successor to the BlackRock Advisor.
Notwithstanding the foregoing, neither the BlackRock Advisor nor any of its Affiliates shall be liable to the Trust, the Board, or the Shareholders for any act or omission by the BlackRock Advisor or any of its Affiliates, except as provided in Section 19 of this Agreement.
Once the Trust’s Core Earnings for the applicable 4-Quarter Performance Measurement Period exceed the Annual Hurdle Rate, the BlackRock Advisor shall be entitled to a “catch-up” fee equal to (a) for the Initial Period, 40% or (b) for the Post-Initial Period, 35%, in each case, of the amount of Core Earnings in excess of the Annual Hurdle Rate, until Core Earnings as a percentage of the Adjusted Capital for such 4-Quarter Performance Measurement Period is equal to 5.7143%.
In performing its duties under Section 3, the BlackRock Advisor shall be entitled to rely reasonably (x) on qualified experts and professionals (including, without limitation, accountants, legal counsel and other professional service providers) hired by the BlackRock Advisor at the Trust’s sole cost and expense and (y) with respect to any matter related to, or arising from, the Loan Portfolio or the subsidiaries of the Trust, on the Monticello Advisor.
The Monticello Advisor further acknowledges that the Trust has appointed the BlackRock Advisor to serve as its investment advisor with respect to the Liquid Investments Portfolio pursuant to the BlackRock Advisory Agreement and, subject to the terms and conditions thereof, has delegated to the BlackRock Advisor all investment decisions with respect to the Liquid Investments Portfolio.
In the event that the Trust and the BlackRock Advisor are unable to agree to the terms of the revised compensation to be payable to the BlackRock Advisor during such 60-day period, this Agreement shall terminate and such termination to be effective on the date which is the later of (A) 10 days following the end of such 60-day period and (B) the Effective Termination Date originally set forth in the Termination Notice.
The Trust will not pay the BlackRock Advisor a Performance Fee with respect to the Class E Common Shares.