Average Daily Managed Assets of the Fund shall mean the average daily value of the total assets of the Fund, less all accrued liabilities of the Fund (other than the aggregate amount of any outstanding borrowings constituting financial leverage). The Adviser may waive a portion of its fees. If this Agreement becomes effective subsequent to the first day of a month or shall terminate before the last day of a month, compensation for such month shall be computed in a manner consistent with the calculation of the fees payable on a monthly basis. Subject to the provisions of Section 5 below, the accrued fees will be payable monthly as promptly as possible after the end of each month during which this Agreement is in effect.
Average Daily Managed Assets. Average Daily Managed Assets" of the Fund shall mean the average daily value of the total assets of the Fund, less all accrued liabilities of the Fund (other than the aggregate amount of any outstanding borrowings constituting financial leverage). The Adviser may waive a portion of its fees. If this Agreement becomes effective subsequent to the first day of a month or shall terminate before the last day of a month, compensation for such month shall be computed in a manner consistent with the calculation of the fees payable on a monthly basis. Subject to the provisions of Section 5 below, the accrued fees will be payable monthly as promptly as possible after the end of each month during which this Agreement is in effect. (b) The Adviser may direct the Fund's administrator to pay to any sub-adviser a portion of the compensation payable to the Adviser pursuant to Section 4(a) out of the assets of the Fund; provided, however, that in such case the compensation payable to the Adviser hereunder will be reduced by the amount of any compensation paid directly by the Fund to such sub-adviser. SECTION 5.
Average Daily Managed Assets of the Fund shall mean the average daily value of the total assets of the Fund, less all accrued liabilities of the Fund. If this Agreement becomes effective subsequent to the first day of a month or shall terminate before the last day of a month, compensation for such month shall be computed in a manner consistent with the calculation of the fees payable on a monthly basis. The accrued fees will be payable monthly as promptly as possible after the end of each month during which this Agreement is in effect.
Examples of Average Daily Managed Assets in a sentence
Where the Commissioner’s agreement has been given to make cheque payments, cheque payments will be accepted as being received in time if delivered to an Inland Revenue office on or before the close of business on the due date.
The remuneration policy will be effective from the financial year which commenced on the 1st of January 2020.
Board of Trustees and Investment Adviser of the Prospectus is hereby deleted in its entirety and replaced with the following:For the services provided to the Funds under the Investment Advisory Agreement, the Funds pay the Adviser an annual unitary fee, payable monthly, at the rate of 0.75% of the Funds Average Daily Managed Assets (as defined below) in the case of the Womens ETF and the Sustainable Development ETF and 0.49% of the Funds Average Daily Managed Assets in the case of the Minority ETF.
Prior to June 29, 2020, the Merger Arbitrage Fund paid the Adviser a gross advisory fee of 1.20% of the Average Daily Managed Assets of the Fund.
In return for its advisory services, the Fund pays the Adviser an advisory fee of 0.45% of the Fund’s Average Daily Managed Assets for the most recent fiscal year.
More Definitions of Average Daily Managed Assets
Average Daily Managed Assets means the average daily value of the assets of the Fund allocated to the Sub-Adviser, less accrued liabilities of the Fund related or allocated to such portion of the Fund's assets allocated to the Sub-Adviser (other than the aggregate amount of any outstanding borrowings constituting financial leverage). [For the avoidance of doubt, assets allocated by the Sub-Adviser to other sub- advisers pursuant to Section 2(a) of this Agreement will not be considered to have been allocated to Sub-Adviser for purposes of determining Average Daily Managed Assets, and the Sub-Adviser will not receive any fees with respect to such assets.]2 If this Agreement becomes effective subsequent to the first day of a month or shall terminate before the last day of a month, compensation for such month shall be computed in a manner consistent with the calculation of the fees payable on a monthly basis. The accrued fees will be payable monthly no later than the fifteenth (15) business day following the end of each month during which this Agreement is in effect. (b) The Adviser agrees to direct the Fund's administrator to pay the Sub-Adviser the compensation payable pursuant to Section 5(a) out of the assets of the Fund; provided, however, that in such case the compensation payable to the Sub-Adviser by the Adviser hereunder will be reduced by the amount of any compensation paid directly by the Fund to the Sub-Adviser. To the extent the Sub-Adviser allocates any assets to third-party sub-advisers as contemplated by clause (i) of Section 2(a), the fees payable to such third-party sub-advisers shall not be payable by the Sub-Adviser out of the fees paid by the Adviser to the Sub-Adviser pursuant to this Section 5 but shall be paid pursuant to the terms and conditions of the sub-advisory agreement entered between such third-party sub-adviser and the Adviser.]3 SECTION 6.
Average Daily Managed Assets so long as the Adviser has not waived in writing all or a portion of such compensation. “Average Daily Managed Assets” of a Fund shall mean the average daily value of the total assets of the Fund, less all accrued liabilities of the Fund (other than the aggregate amount of any outstanding borrowings constituting financial leverage). The Adviser may waive a portion of its fees, by written notice the relevant Fund and the Board. If this Agreement becomes effective subsequent to the first day of a month or shall terminate before the last day of a month, compensation for such month shall be computed in a manner consistent with the calculation of the fees payable on a monthly basis. The accrued fees will be payable monthly as promptly as possible after the end of each month during which this Agreement is in effect.
Average Daily Managed Assets of the Fund shall mean the average daily value of the total assets of the Fund less all accrued liabilities of the Fund (other than the aggregate amount of any outstanding borrowings constituting financial leverage).
Average Daily Managed Assets of the Trust shall mean the average daily value of the total assets of the Trust, less all accrued liabilities of the Trust (other than the aggregate amount of any outstanding leverage). Leverage includes (i) indebtedness of any type (including, without limitation, borrowing through a credit facility or the issuance of debt securities), (ii) the issuance of preferred stock or other similar preference securities, (iii) the reinvestment of collateral received for securities loaned in accordance with the Trust’s investment objectives and policies, and/or (iv) any other means. The accrued fees will be payable monthly as promptly as possible after the end of each month during which this Agreement is in effect. The Adviser may waive a portion of its fees. If this Agreement becomes effective subsequent to the first day of a month or shall terminate before the last day of a month, compensation for such month shall be computed in a manner consistent with the calculation of the fees payable on a monthly basis.
Average Daily Managed Assets of a Fund shall mean the average daily value of the total assets of the Fund, less all accrued liabilities of the Fund (other than the aggregate amount of any outstanding borrowings constituting financial leverage). The Adviser may waive a portion of its fees. If this Agreement becomes effective subsequent to the first day of a month or shall terminate before the last day of a month, compensation for such month shall be computed in a manner consistent with the calculation of the fees payable on a monthly basis. The accrued fees will be payable monthly as promptly as possible after the end of each month during which this Agreement is in effect.
Average Daily Managed Assets means the average daily value of the assets of the Fund allocated to the Sub-Adviser, less accrued liabilities of the Fund related or allocated to such portion of the Fund’s assets allocated to the Sub-Adviser (other than the aggregate amount of any outstanding borrowings constituting financial leverage). If this Agreement becomes effective subsequent to the first day of a month or shall terminate before the last day of a month, compensation for such month shall be computed in a manner consistent with the calculation of the fees payable on a monthly basis. The accrued fees will be payable monthly no later than the fifteenth (15) business day following the end of each month during which this Agreement is in effect.
Average Daily Managed Assets means, with respect to each Portfolio, the average daily value of the total assets of the Portfolio, less all accrued liabilities of the Portfolio (other than the aggregate amount of any outstanding borrowings constituting financial leverage). The accrued fees will be payable monthly as promptly as possible after the end of each month during which this Agreement is in effect. Highland may waive a portion of its fees. If this Agreement becomes effective subsequent to the first day of a month or shall terminate before the last day of a month, compensation for such month shall be computed in a manner consistent with the calculation of the fees payable on a monthly basis.