Management Expense Allowance definition
Management Expense Allowance means a non-accountable expense allowance relating to services performed for the Fund (but excluding amounts paid by the Advisor on behalf of the Fund to third parties) in an amount equal to 1% of the Fund's Net Assets, per annum, payable quarterly to the Advisor which may be increased annually by an amount corresponding to the percentage increase in the Consumer Price Index for all urban consumers- Louisville or a comparable consumer price index, which increase will in no event cause the Fund's Operating Expenses to exceed the limitation imposed by the Bylaws.
Management Expense Allowance means a non-accountable expense allowance relating to services performed for the Fund (but excluding amounts paid by the Advisor on behalf of the Fund to third parties) in an amount equal to 1% of the Fund's Net Assets, per annum, payable quarterly to the Advisor which may be increased annually by an amount corresponding to the
Management Expense Allowance. The Administrator will be credited with an amount equal to 3% of the Reinsurer's proportionate share of Premium hereunder until the aggregate Premium collected equals $100,000,000 (the "Target Premium") in total under this Agreement and under the reinsurance agreements between the Company and Provident American Life and Health Insurance Company ("PALHIC"), on the one hand, and PALHIC and the Reinsurer on the other hand, with respect to (i) new direct business written by the Administrator, and (ii) new business sold through HealthAxis via the Internet. The Administrator will be credited with an amount equal to 2% of the Reinsurer's proportionate share of Premium in excess of the Target Premium, the payment of which amount shall replace the 3% payment and shall commence upon the Target Premium being achieved.
Examples of Management Expense Allowance in a sentence
Upon the death of the beneficiary, the owner shall make available all funds paid pursuant to this contract, including any cumulative Management Expense Allowance, and all interest accrued on these monies, as calculated in accordance with the Regulations.