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.
View Source
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
View Source
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.
View Source

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.

Related to Management Expense Allowance

  • Management Expenses means the costs, charges and expenses necessarily and reasonably incurred or to be incurred for the management and maintenance of the Land and the Building and the Common Areas and Facilities therein to be borne by the Owners including the remuneration of the Manager as provided in this Deed;

  • management expense ratio means the total fees and expenses a fund paid during a year divided by its average assets for that year.

  • NOx Allowance means an authorization to emit a specified amount of NOx that is allocated or issued under an emissions trading or marketable permit program of any kind that has been established under the Clean Air Act or a state implementation plan.

  • Rent Expense means, for any Person for any period of determination, such Person’s operating lease expense computed in accordance with GAAP, including, without limitation, all contingent rentals, but excluding all common area maintenance expenses.

  • Annual Operating Expenses for the Class means and will consist only of the following operating expenses of the Series for the Class that are, under generally accepted accounting principles, accruable and deductible from the Series’ assets with respect to the Class for the period involved: (i) investment advisory fees, if any; (ii) Rule 12b-1 distribution fees, if any; and (iii) custodian fees, shareholder servicing fees, administrative and office facilities expenses, professional fees, trustees’ fees and any other operating expenses of the Series with respect to the Class that are recorded or includable in the Series’ statement of operations in accordance with generally accepted accounting principles. Notwithstanding the provisions of the immediately preceding sentence, the Series’ “Annual Operating Expenses” for the Class do not include “acquired fund expenses”, interest and dividends on securities sold short, amortization of organization expenses, taxes, brokerage commissions, litigation and indemnification expenses or any costs or expenses of or for the Series with respect to the Class that are “extraordinary” as determined under generally accepted accounting principles (see Accounting Principles Board Opinion No. 30). Very truly yours, ROYCE & ASSOCIATES, LLC By: /s/ ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇ ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇ Chief Operating Officer ACCEPTED: THE ROYCE FUND By: /s/ ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇ ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇ Vice President The Royce Fund ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇ Re: Fee Waiver and Expense Reimbursement - ▇▇▇▇▇ ▇▇▇▇-Cap Value Fund (Service Class) Gentlemen: Reference is made to the Investment Advisory Agreement dated September 18, 2007 (the “Agreement”) by and between The Royce Fund (the “Fund”) on behalf of ▇▇▇▇▇ ▇▇▇▇-Cap Value Fund (the “Series”) and Royce & Associates, LLC (the “Adviser”). Notwithstanding the provisions of Section 4 (Compensation of the Adviser) of the Agreement, the Adviser hereby waives compensation for services provided by it under the Agreement effective as of and for the period beginning May 1, 2014 and ending April 30, 2015 (the “Period”), and/or agrees to reimburse expenses relating to the Period to the Series with respect to the Class in an amount, if any, necessary so that the Series’ “Annual Operating Expenses” for its Service Class of shares (the “Class”) are not more than 1.35% of the Class’ average net assets for the Period. The Adviser hereby also waives compensation for services provided by it under the Agreement to the Series with respect to the Class, and/or agrees to reimburse expenses to the Series with respect to the Class for each subsequent annual period through the annual period ending April 30, 2021 (but not for any annual period thereafter) in an amount, if any, necessary so that the Series’ Annual Operating Expenses for the Class are not more than 1.99% of the Class’ average net assets for such annual period. The Adviser’s obligations to reimburse the Series with respect to the Class hereunder will not apply for any period when the Adviser is not rendering services to such Series under the Agreement.