% IM Fee definition
% IM Fee. An amount equal to 20% of the aggregate annual Preferred Return for all Members divided by .8, reduced by the aggregate amount of distributions of Net Proceeds theretofore made pursuant to Section 8.1(b) (ii).
% IM Fee means with respect to any Distribution Date, the fee payable to the Investment Manager or successor investment manager (as applicable) for services rendered during the related Collection Period, which shall be equal to one-twelfth of the product of (i) the IM Fee Percentage multiplied by (ii) the average of the values of the aggregate Collateral Obligation Amount of the Eligible Collateral Obligations on the first day and the last day of the related Collection Period.