BUYOUT PROVISIONS definition
BUYOUT PROVISIONS. In the event of termination of this Agreement with respect to a Portfolio in accordance with the terms of Item (c)(iii) of the "Term" provisions herein, the Adviser, shall on or before the closing date of such merger, make a one-time payment to the Administrator, in full satisfaction of the Portfolio's contractual obligations hereunder, in an amount equal to 45% of the amounts that would be payable to SEI GFS by the Portfolio hereunder if this Agreement were to remain in effect for the duration of the then-current term. In computing such amount, it shall be assumed that the Portfolio average daily net assets will remain constant (i.e., - no additional purchases, no redemptions) for the duration of the then-current term. The amount so computed shall be subject to a maximum payment amount that shall vary in accordance with the remaining terms of the contract. Two or more years remaining term $300,000 One to two years remaining term $275,000 Less than one year remaining term $250,000 ADVISER EXPENSE REPAYMENT: Any ad all out-of-pocket fees, costs, or expenses advanced by SEI GFS, in its sole discretion, on behalf of the undersigned Adviser, as a result of any failure to fully satisfy and comply with any and all applicable Portfolio expense caps or expense ratio limits, shall be the responsibility of the Adviser and shall be promptly repaid to SEI ("Repayment Obligation"). Any such Repayment Obligation of the Adviser shall survive (i) the termination of this Agreement and (ii) any merger or liquidation of any subject Portfolio, unless and until the Repayment Obligation is indefeasibly paid in full.
Examples of BUYOUT PROVISIONS in a sentence
Executive agrees to deliver to the Company at the termination of his employment, or at any other time the Company may request, all memoranda, notes, plans, records, reports and other documents and its Subsidiaries which he may then possess or have under his control.