Annual Management Fee. On March 31, 2009 and on each anniversary thereof, Borrower shall pay to Agent, for its own account, in advance, a non-refundable annual management fee in an amount equal to $25,000, which fee shall be fully earned when paid.
Annual Management Fee. Housing Leeds agrees to pay LCCU an annual Management Fee relating to the provision of agreed services. Any changes that are required to the management of the service will be negotiated and agreed by both parties through the Quarterly Review Process (see clause 5 below). LCCU will deliver a service which provides value for money and excellence for Leeds City Council tenants. This agreement enables Housing Leeds to purchase an additional LCCU service for Leeds City Council tenants but does not intend to employ individual staff direct now or at any time in the future.
Annual Management Fee. The annual management fee is a fee charged for the ongoing investment management within the DMPS and also covers standard administrative services including the provision of quarterly valuation reports and the cost of any Adviser review meetings. The fee will normally be set out in your Investment Planning Report terms of business letter or other equivalent document provided to you but in the absence of anything to the contrary will be charged at 1.5% of the value of your Assets. The annual management fee is calculated on a monthly basis at a rate of one twelfth of the annual management fee based on the market value of the DMPS Portfolio and is taken by us from the DMPS Portfolio monthly in arrears.
Annual Management Fee. Borrower shall pay to Lender a non-refundable annual management fee for the account of the Lender, in an amount equal to Fifteen Thousand Dollars ($15,000.00) per year, which fee shall be fully earned, and due and payable in advance, on the Effective Date and each annual anniversary thereafter until the Termination Date; provided, that such amount is to be prorated if this Agreement is terminated prior to such anniversary.” WEST\291759554.4
8. New subsection (h) is hereby added to Section 2.2 of the Agreement as follows:
Annual Management Fee. Commencing on the Effective Date and subject to Section 6 below, the Company shall pay to Advisor an annual management fee (the “Annual Management Fee”) equal to $1,500,000. The Annual Management Fee shall be payable in advance in immediately available funds in equal quarterly installments. Quarterly installments shall be made on the first day of the applicable calendar quarter beginning with January 1, 2012. Advisor may elect in its sole discretion to defer the receipt of all or a portion of the Annual Management Fee. Any portion of the Annual Management Fee accrued or deferred pursuant to this provision shall be payable immediately prior to an initial public offering of the equity securities of the Company or any of its affiliates or a Sale of the Company, where “Sale of the Company” means a sale, directly or indirectly, of the Company to an independent third party or group of independent third parties pursuant to which such party or parties (i) acquire capital stock of the Company possessing the voting power under normal circumstances to elect a majority of the Board (whether by merger, consolidation or sale or transfer of the Company’s capital stock or otherwise), (ii) acquire or obtain an exclusive license to all or substantially all of the Company’s assets determined on a consolidated basis, or (iii) a direct or indirect initial public offering of the Company. If, after the date of this Agreement, the Company or any of its affiliates consummates the acquisition of any other business, company, product line or enterprise (each an “Add-On Acquisition”), then Advisor and the board of directors of the Company shall, prior to the consummation of such Add-On Acquisition, determine whether and to what extent the amounts payable pursuant to this Section 4 shall be increased as a result thereof. Any increase shall be evidenced by a written supplement to this Agreement signed by the Company and Advisor. In the case of a Sale of the Company, the Company shall pay a lump sum amount equal to the net present value (using a discount rate equal to the then prevailing yield on U.S. Treasury securities of like maturity) of the Annual Management Fees that would have been payable to Advisor with respect to the period from the date of such Sale of the Company until the end of the Term in effect immediately prior to such Sale of the Company.
Annual Management Fee. The Investor will pay the Manager an Annual Management Fee equal to 1% of his/her total Subscription amount. The Annual Management Fee will accrue annually in advance from the Closing Date of the Fund, until 5 years from Closing Date (5 years total). The accrued Annual Management Fee will be satisfied from any distribution made by the Fund to the Investor under the terms of this Agreement and such fee shall be deducted after the Transaction Fee (see 1.3.2 below) is deducted and prior to any distribution to the Investor being made and prior to the Performance Fee to the Manager. If there are no distributions from the Fund, then the Investor will not be subject to payment of the accrued Annual Management Fee of 1%.
Annual Management Fee. Ardshiel hereby accepts the engagement described in Section 1 hereof. For the above management advisory services, the Companies shall pay Ardshiel a fee (the "Management Fee") of $1.3 million dollars ($1,300,000) per annum, payable monthly in arrears.
Annual Management Fee. (a) An Annual Management Fee, which will be computed and payable monthly in arrears, shall be payable by the County to the Operator in the amount set forth below for each Contract Year:
(i) For the first Contract Year, the Annual Management Fee shall be $396,829.00.
(ii) For the second Contract Year, the Annual Management Fee shall be $396,829.00.
(iii) For the third Contract Year, the Annual Management Fee shall be $396,829.00.
(b) The Operator acknowledges and agrees that the annual Management Fee covers and includes for each Contract Year: (i) all salary and benefits of the on-site management team of the Operator, (ii) all profit of the Operator, and (iii) all amounts for overhead and administration, including without limitation, business insurance, finance and interest expenses, supervisory, legal, and other overhead costs. The Operator shall not be entitled to payment by the County of any amounts on account of any of the foregoing items, except payment of the monthly installments of the Annual Management Fee.
Annual Management Fee. (a) As compensation for its services in connection with the operation of the Enterprise and the management services provided by Manager pursuant to this Agreement, Holdings shall pay Manager an annual management fee (the "Annual Management Fee") in an amount determined in accordance with the schedule immediately below, based on the percentage by which the actual EBITDA of Holdings for the applicable year (as determined by reference to its audited financial statements) varies in comparison with the projected EBITDA of Holdings for such year (as determined by reference to the applicable operating budget) ("Projected EBITDA"): EBITDA as a Percentage of Projected EBITDA Annual Management Fee Equals ---------------------- ---------------------------- 100%-101.99% A percentage of EBITDA equal to the percentage by which EBITDA exceeds Projected EBITDA 102%-104% 2% of Projected EBITDA + 2% of the amount by which EBITDA exceeds 102% of Projected EBITDA Over 104% 2.04% of Projected EBITDA + 25% of the amount by which EBITDA exceeds 104% of Projected EBITDA
(b) For the sole purpose of determining the Annual Management Fee, EBIDTA shall exclude the accrual of the Annual Management Fee, whereas Projected EBITDA shall include a projected Annual Management Fee of 2% of EBITDA. Any Annual Management Fee earned with respect to any Fiscal Year shall be due and payable in cash on the tenth business day following the Committee's receipt of the audited financial statements of Holdings for such Fiscal Year and confirmation of the amount of the fee payable hereunder, if any.
(c) Notwithstanding any provision hereof to the contrary: (i) Manager shall not receive any Annual Management Fee for the Fiscal Year ending December 31, 2004; and (ii) if the Committee does not reach an agreement with respect to the capital expenditures and operating budgets for the first full Fiscal Year after the Closing Date as contemplated by Sections 1.06(a) & (b) of Exhibit "A" hereto by June 30, 2005, then Manager shall not receive any Annual Management Fee for the Fiscal Year ending December 31, 2005.
Annual Management Fee. (i) From and after Principal Closing Date until the Expiration Date, the Partnership shall pay the Manager an annual management fee (the “Management Fee”) equal to 2.5% of the Net Capital Commitments.
(ii) From and after the Expiration Date until the final dissolution and liquidation of the Partnership, the Partnership shall pay the Manager an annual Management Fee equal to 1.0% of the Net Capital Commitments.
(iii) The Management Fee will be payable quarterly in advance on the first day of each calendar quarter based on Net Capital Commitments on such date and is not refundable. It will be reduced by Portfolio Management Fees, Other Portfolio Company Fees and Direct Placement Fees as set forth in Sections 3(d), 3(e) and 3(f) hereof. Such reductions shall be carried forward and applied against any future payments of the Management Fee until the reductions have been fully applied. The Management Fee for partial quarters will be prorated. The Management Fee will accrue from the Principal Closing Date on all capital commitments to the Partnership through the date on which this Agreement terminates as provided in Section 10 hereof. For purposes of calculating the Management Fee, the Net Capital Commitments shall not be reduced by any cash distributions, returns of capital, or other payments by the Partnership to the Partners.
