Total Managed Assets definition
Total Managed Assets means the total assets of the Fund (including assets attributable to any preferred shares and borrowings of the Fund that may be outstanding) minus accrued liabilities (other than liabilities representing borrowings). The Additional Compensation shall be payable as set forth in Section 3 hereof.
Total Managed Assets means, as of any fiscal quarter end, total balance sheet assets plus securitized receivables. All financial terms used in this section under the heading “Mandatory Trigger and Mandatory Deferral” will be determined in accordance with GAAP as applied to and reflected in the Company’s consolidated financial statements as of the relevant dates or for the relevant periods, except (i) that the Company’s Total Equity Amount, Adjusted EBITDA and Average Four Quarters Fixed Charge Ratio at any date and for any period will be adjusted to exclude extraordinary items, unusual items and infrequently occurring items as defined in APB 30, goodwill impairment as defined in Financial Accounting Standards Board Statements of Financial Accounting Standards (“SFAS”) No. 142 and amounts relating to discontinued operations as defined in SFAS No. 144 and (ii) as provided in the next paragraph. If because of a change in GAAP that results in a cumulative effect of a change in accounting principle or a restatement,
Total Managed Assets means, as of any Quarter End, the total balance sheet assets of the Corporation, plus securitized receivables.
Examples of Total Managed Assets in a sentence
In consideration for the services to be performed under this Agreement, the Adviser shall receive from the Trust a management fee, calculated on a monthly basis at the annual rate of 1.05% of the Fund’s average Total Managed Assets, as that term is defined in the Prospectus and Statement of Additional Information dated May 14, 2013 (the “Registration Statement”), during the month.
Such notice, in addition to stating that interest payments on this Debenture will be deferred, will set forth whether such interest payments are being deferred because (i) the Company’s Total Equity Amount is less than 11.0% of Total Managed Assets for the most recently completed fiscal quarter or (ii) the Company’s Average Four Quarters Fixed Charged Ratio for the most recently completed fiscal quarter is less than or equal to 1.10.
For purposes of this Agreement, the Total Managed Assets of the Trust shall be calculated pursuant to procedures adopted by the Trustees of the Trust for calculating the value of the Trust?s assets or delegating such calculations to third parties.
For the services which WAML Singapore will render to the Manager and the Trust under this Agreement, the Manager shall pay WAML Singapore a monthly fee in arrears at an annual rate equal to 0.425% of the average weekly value of the Trust?s Total Managed Assets that WAML Singapore manages.
At the time of each payment of Additional Compensation hereunder, PAFM shall deliver to UBS Securities LLC a statement indicating the amount of the of the aggregate average weekly Total Managed Assets of the Fund for such quarter on which such payment was based.
More Definitions of Total Managed Assets
Total Managed Assets shall have the meaning specified in paragraph 10(c) of Part I of this Section 12.1.
Total Managed Assets means (i) the net assets of the Trust (including assets attributable to any preferred shares that may be outstanding) plus (ii) any additional total assets of the Trust attributable to borrowings of money, the use of reverse repurchase agreements or dollar rolls or the issuance of debt securities (together "external borrowings"), without deducting liabilities representing external borrowings. The liquidation preference of any preferred shares of the Trust, if any, constituting financial leverage shall not be considered a liability of the Trust. For any period less than a month during which this Agreement is in effect, the Investment Sub-Advisory Fee shall be prorated according to the proportion which such period bears to a full month of 28, 29, 30 or 31 days, as the case may be.
Total Managed Assets means the average daily gross net asset value of the Fund (which includes assets attributable to the Fund’s preferred stock, if any, and the principal amount Fund borrowings including assets attributable to tender option bonds and other similar transactions and forms of leverage). For avoidance of doubt, with regard to compensation, it is intended that this Agreement reflect the terms of the “Letter of Intent” between RiverNorth Capital Management and Centric Fund Services, dated June 25, 2019.
Total Managed Assets means the total assets of the Trust (including any assets attributable to leverage) minus the sum of accrued liabilities (other than liabilities representing leverage). The first payment of the fee shall be made as promptly as possible at the end of the month succeeding the effective date of this Agreement. For any period less than a month during which this Agreement is in effect, the fee shall be prorated according to the proportion which such period bears to a full month of 28, 29, 30 or 31 days, as the case may be. For purposes of this Agreement, the Total Managed Assets of the Trust shall be calculated pursuant to procedures adopted by the Trustees of the Trust for calculating the value of the Trust's assets or delegating such calculations to third parties. In the event that the expenses of the Trust exceed any expense limitation which the Manager may, by written notice to the Trust, voluntarily declare to be effective with respect to the Trust, subject to such terms and conditions as the Manager may prescribe in such notice, the compensation due the Manager shall be reduced, and, if necessary, the Manager shall bear the Trust's expenses to the extent required by such expense limitation.
Total Managed Assets means, with respect to the Company on a consolidated basis, as of any fiscal quarter end, total balance sheet assets plus securitized receivables.
Total Managed Assets means the total assets of the Trust (including any such assets attributable to leverage) minus the sum of accrued liabilities (other than liabilities representing leverage). For purposes of this Agreement, the Total Managed Assets of the Trust shall be calculated pursuant to procedures adopted by the Trustees of the Trust for calculating the value of the Trust?s assets or delegating such calculations to third parties. Fees due to WAML Singapore hereunder shall be paid promptly to WAML Singapore by the Manager following its receipt of fees from the Trust. For any period less than a month during which this Agreement is in effect, the fee shall be prorated according to the proportion which such period bears to a full month of 28, 29, 30 or 31 days, as the case may be.
Total Managed Assets means the total assets of the Fund (including assets attributable to any reverse repurchase agreements, dollar roll transactions or similar transactions, borrowings, and preferred shares that may be outstanding) minus accrued liabilities (other than liabilities in respect of reverse repurchase agreements, dollar roll transactions or similar transactions, and borrowings). For purposes of calculating “total managed assets,” the liquidation preference of any preferred shares outstanding shall not be considered a liability. With respect to any reverse repurchase agreement, dollar roll transaction or similar transaction, “total managed assets” includes any proceeds from the sale of an asset of the Fund to a counterparty in such a transaction, in addition to the value of the asset subject to the reverse repurchase agreement or dollar roll transaction, as of the relevant measuring date. Cash and cash equivalents are included when calculating the Fund’s total managed assets. For purposes of calculating total managed assets, the Fund’s derivative investments generally will be valued based on their market value (i.e., the notional value of such investments will not be used for purposes of calculating total managed assets). The average daily total managed assets of the Fund for any month is determined by taking an average of all of the determinations of total managed assets during such month at the close of business on each business day during such month. The Adviser was founded in December 2009. ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ serves as the Chief Executive Officer and Chief Investment Officer of the Adviser. As of June 30, 2023, the Adviser had approximately $95.0 billion of assets under management. U.S. Bancorp Fund Services, LLC, with offices at ▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇ and doing business as U.S. Bank Global Fund Services, (“USBGFS” or the “Administrator”) is the Fund’s administrator, fund accountant and transfer agent pursuant to a Master Services Agreement (the “Master Services Agreement”) between the Fund and USBGFS. As administrator, USBGFS provides certain services, including, among other things, certain compliance monitoring services; furnishing the Fund with various services required by the Fund’s operations; compiling data for and preparing filings or notices to the SEC; calculating the Fund’s daily NAV, providing pricing information and certain other financial data; preparing reports that are required by the securities, investment, tax or other law...