Voluntary Base Management Fee Waiver Agreement between Alcentra NY LLC and Alcentra Capital Corporation (May 2018)
Alcentra NY LLC and Alcentra Capital Corporation have agreed to temporarily reduce the base management fee rates specified in their Investment Advisory Agreement for the period from May 1, 2018, to April 30, 2019. During this time, Alcentra NY LLC will waive any portion of the management fee that exceeds the newly agreed lower rates. This agreement ensures that Alcentra Capital Corporation pays reduced management fees for one year, after which the original fee structure resumes.
Exhibit 10.2
Alcentra NY LLC
200 Park Avenue, 7th Floor
New York, NY 10166
May 4, 2018
David Scopelliti
President and Chief Executive Officer
Alcentra Capital Corporation
200 Park Avenue, 7th Floor
New York, NY 10166
Re: Voluntary Base Management Fee Waiver
Dear David:
Reference is hereby made to the Amended and Restated Investment Advisory Agreement (the “Agreement”), dated May 4, 2018, by and between Alcentra Capital Corporation and us. Capitalized terms used but not defined herein shall have the meaning ascribed to them in the Agreement.
We hereby agree that the Base Management Fee for the period commencing on May 1, 2018 and ending on April 30, 2019, will be calculated in accordance with the Agreement but as if the annual rates of 1.50%, 1.40%, and 1.25% specified in Section 3(a) of the Agreement were reduced to and replaced with 1.25%, 1.15%, and 1.00%, respectively, during such period. We agree to waive the Base Management Fee that we would otherwise be entitled to receive under the Agreement for this period to the extent it exceeds the Base Management Fee calculated in accordance with the foregoing.
[Signature page to follow]
Sincerely yours,
ALCENTRA NY LLC
By: /s/ Jack Yang
Name: Jack Yang
Title: President
Agreed and Accepted:
ALCENTRA CAPITAL CORPORATION
By: /s/ David Scopelliti
Name: David Scopelliti
Title: President and Chief Executive Officer
