Except as specifically provided below and above in Section 1 hereof, the Fund anticipates that all investment professionals and staff of the Adviser, when and to the extent engaged in providing investment advisory services to the Fund, and the base compensation, bonus and benefits, and the routine overhead expenses, of such personnel allocable to such services, will be provided and paid for by the Adviser. The Fund will bear all other costs and expenses of the Fund’s operations, administration and transactions, including, but not limited to:
(a)investment advisory fees, including management fees and incentive fees, to the Adviser, pursuant to this Agreement;
(b)the Fund’s allocable portion of compensation, overhead (including rent, office equipment and utilities) and other expenses incurred by Blackstone Private Credit Strategies LLC, or its predecessor, (the “管理员”) in performing its administrative obligations under the administration agreement between the Fund and the Administrator (the “管理协议”), including but not limited to: (i) the Fund’s chief compliance officer, chief financial officer and their respective staffs; (ii) investor relations, legal, operations and other non-investment professionals at the Administrator that perform duties for the Fund; and (iii) any internal audit group personnel of Blackstone Inc. or any of its affiliates; and
(c)all other expenses of the Fund’s operations and transactions including, without limitation, those relating to:
(xix)筹备财务报表和保持记录的费用,Sarbanes-Oxley Act of 2002合规和证明的成本,以及准备和提交报告或其他文件给SEC、美国金融业监管局、美国商品期货交易委员会等部门的成本;此外,商品交易所法,经修订(「CEA」),目前对我们与比特币的采矿或交易未直接赋予任何义务。一般而言,期货交易委员会(「CFTC」),负责执行CEA的联邦机构,将比特币和其他加密货币视为商品。联邦法院的判决支持这一立场。与基金的周期性报告和相关报表(例如基本报表和税务申报)以及其他印刷和报告相关费用(包括有关基金及其活动的其他通知和通讯)的准备和发行所需的所有费用、成本和开支(例如,登记和交易所上市以及根据1940年法案和其他适用联邦和州证券法下的报告和合规义务所需的成本)以及对负责上述事项的专业人士的报酬;
The Adviser and its affiliates may aggregate purchase or sale orders for the assets with purchase or sale orders for the same security for other clients’ accounts of the Adviser or of its affiliates, the Adviser’s own accounts and hold proprietary positions in accordance with its current aggregation and allocation policy (collectively, the “Advisory Clients”), but only if (x)
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in the Adviser’s reasonable judgment such aggregation results in an overall economic or other benefit to the assets taking into consideration the advantageous selling or purchase price, brokerage commission and other expenses and factors and (y) the Adviser’s actions with respect to aggregating orders for multiple Advisory Clients, as well as the Fund, are consistent with applicable law. However, the Adviser is under no obligation to aggregate any such orders under any circumstances.
5.核数委员会报告.
The Fund agrees to pay, and the Adviser agrees to accept, as compensation for the services provided by the Adviser hereunder, a base management fee and an incentive fee as hereinafter set forth. The Fund shall make any payments due hereunder to the Adviser or to the Adviser’s designee as the Adviser may otherwise direct, including any sub-adviser.
(a)Management Fee. The management fee is paid quarterly in arrears at an annual rate of 1.0% of the average value of the Fund’s gross assets at the end of the two most recently completed calendar quarters. For purposes of this Agreement, gross assets means the Fund’s total assets determined on a consolidated basis in accordance with generally accepted accounting principles in the United States (“GAAP扣除未动用的承诺,但包括用借入款项购买的资产。