Base Fee Adjustment Sample Clauses

Base Fee Adjustment. Beginning in the 13th month of operations, the Base Fee of 2.50% will be adjusted upward or downward on a monthly basis based upon the performance of the Subadviser Assets relative to the performance of the S&P 500 Index (the "Index"). The maximum or minimum adjustment is 1.50% annually. Therefore, the maximum annual fee payable to the Subadviser shall be 4.00% of Subadviser Assets, and the minimum annual fee shall be 1.00% of Subadviser Assets. The pro rata adjustment upward or downward will be determined based upon the performance of the Subadviser Assets in excess of, or below, that of the Index. The amount of any upward adjustment in the Base Fee shall be equal to 1.50% multiplied by the ratio of the number of percentage points by which the performance of the Subadviser Assets exceeds the performance of the Index as compared to 30 percentage points. For example, if the performance of the Subadviser Assets was 6.6% above that of the S&P 500 Index, the ratio would be 6.6 to 30, or 22%, times 1.50%, for an upward adjustment of 0.33%. The amount of any downward adjustment in the Base Fee will be equal to 1.50% multiplied by the ratio of the number of percentage points by which the performance of the Subadviser Assets is less than the performance of the Index as compared to 30 percentage points. For example, if the performance of the Subadviser Assets was 10.0% below that of the S&P 500 Index, the ratio would be 10 to 30, or 33.33%, times 1.50%, for a downward adjustment of 0.50%. In determining the Base Fee adjustment, if any, applicable during any month, the Adviser will compare the investment performance of the Subadviser Assets for the twelve-month period ending on the last day of the prior month (the "Performance Period") to the investment record of the Index during the Performance Period. The investment performance of the Subadviser Assets will be determined for each month in the Performance Period by subtracting (i) the value of the Subadviser Assets as of the first business day of the calendar month (including any amounts allocated to the Subadviser Assets as of that date) from (ii) the value of the Subadviser Assets as of the last business day of the calendar month, expressed as a percentage of (iii) the value of the Subadviser Assets as of the first business day of the calendar month (including any amounts allocated to the Subadviser Assets as of that date). The investment performance for the Performance Period shall be the annualized product of t...
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Base Fee Adjustment. The Base Fee may be renegotiated annually at the request of either Party. In the event that the Parties cannot agree then the Base Fee shall be increased by the greater of 5% or the amount of the cost of living index increase as published by the Canadian Federal government in its final annual publication of such reports..
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Base Fee Adjustment. Beginning in the 13th month of operations, the Base Fee of 2.00% will be adjusted upward or downward on a monthly basis based upon the performance of Series Z relative to the performance of the S&P 500 Index (the "Index"). The maximum or minimum adjustment is 0.75% annually. Therefore, the maximum annual fee payable to the Management Company shall be 2.75% of Series Z's average daily net assets, and the minimum annual fee shall be 1.25% of Series Z's average daily net assets. The pro rata adjustment upward or downward will be determined based upon the performance of the shares of Series Z in excess of, or below, that of the Index. The amount of any upward adjustment in the Base Fee shall be equal to 0.75% multiplied by the ratio of the number of percentage points by which the performance of Series Z exceeds the performance of the Index as compared to 15 percentage points. For example, if the performance of Series Z was 6.6% and that of the Index was 0%, the ratio would be 6.6 to 15, or 44%, times 0.75%, for an upward adjustment of 0.33%. The amount of any downward adjustment in the Base Fee will be equal to 0.75% multiplied by the ratio of the number of percentage points by which the performance of Series Z is less than the performance of the Index as compared to 15 percentage points. For example, if the performance of Series Z was --10.0% and that of the Index 0%, the ratio would be 10 to 15, or 66.66%, times 0.75%, for a downward adjustment of 0.50%. In determining the Base Fee adjustment, if any, applicable during any month, the Management Company will compare the investment performance of the shares of Series Z for the twelve-month period ending on the last day of the prior month (the "Performance Period") to the investment record of the Index during the Performance Period. The investment performance of Series Z will be determined by adding together (i) the change in the net asset value of Series Z shares during the Performance Period, (ii) the value of cash distributions made by Series Z to holders of its shares to the end of the Performance Period, and (iii) the value of capital gains per share, if any, paid on undistributed realized long-term gains accumulated to the end of the Performance Period, and will be expressed as a percentage of the net asset value per share of Series Z shares at the beginning of the Performance Period. The investment performance of the Index will be determined by adding together (i) the change in the level of the Index dur...
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Base Fee Adjustment. If the due date for the payment of the 2008 Base Fee Adjustment under the terms of the Management Agreement Amendments is on or after the Closing Date, then Manager shall pay such Base Fee Adjustment, if any, in full at the Closing. For purposes of this Section 7.15, the term “Management Agreement Amendments” means, collectively, that certain First Amendment to Amended and Restated Management Services and License Agreement with respect to xxx Xxxxx Management Agreement dated as of December 17, 2008, and that certain First Amendment to Amended and Restated Management Services and License Agreement with respect to the Sandusky Management Agreement dated as of December 17, 2008.
Sample 1
Base Fee Adjustment. The Base Fee may be renegotiated annually at the -------------------- request of either Party. In the event that the Parties cannot agree then the Base Fee shall be increased by the greater of 5% or the amount of the cost of living index increase as published by the U.S. Federal government in its final annual publication of such reports. The Base Fee may be temporarily adjusted in the event that sales of the Company in any quarter are less than operating costs of the Company and then at the end of the subsequent quarter should negative cash flow be still occurring the Consultant's Base Fee shall, together with other management personnel subject to the same formula, be reduced pro rata to reduce costs to balance incoming revenue and outgoing expense but only up to a 50% reduction of the Base Fee. The reduction of Base Fee shall be ameliorated upon the Company's revenue increasing sufficiently to pay some or all deferred Base Fee (the Base Fee payment shall increase to its normal rate in direct proportion to positive cash flow). Any reduction of Base Fee shall be treated as a shareholder loan, without interest, and shall be paid from profit before dividends.
Sample 1
Base Fee Adjustment. The Base Fees shall be subject to an increase or decrease in the reasonable discretion of the Golf Course, provided however: (a) the fees available to Hotel Guests shall be subject to adjustment by SGR only once per calendar year (during either September or October) effective January or February and shall thereafter remain constant for one year from the date of each adjustment.
Sample 1
Base Fee Adjustment. Beginning in the 13th month of operations, the Base Fee of 2.00% will be adjusted upward or downward on a monthly basis based upon the performance of the Series relative to the performance of the S&P 500 Index (the "Index"). The maximum or minimum adjustment is 0.75% annually. Therefore, the maximum annual fee payable to SMC shall be 2.75% of the Series' average daily net assets, and the minimum annual fee shall be 1.25% of the Series' average daily net assets. The pro rata adjustment upward or downward will be determined based upon the performance of the Class A shares of the Series in excess of, or below, that of the Index. The amount of any upward adjustment in the Base Fee shall be equal to 0.75% multiplied by the ratio of the number of percentage points by which the performance of the Series exceeds the performance of the Index as compared to 15 percentage points. For example, if the performance of the Series was 6.6% and that of the Index was 0%, the ratio would be 6.6 to 15, or 44%, times 0.75%, for an upward adjustment of 0.33%. The amount of any downward adjustment in the Base Fee will be equal to 0.75% multiplied by the ratio of the number of percentage points by which the performance of the Series is less than the performance of the Index as compared to 15 percentage points. For example, if the performance of the Series was -10.0% and that of the Index was 0%, the ratio would be 10 to 15, or 66.66%, times 0.75%, for a downward adjustment of 0.50%. In determining the Base Fee adjustment, if any, applicable during any month, SMC will compare the investment performance of the Class A shares of the Alpha Opportunity Series for the twelve-month period ending on the last day of the prior month (the "Performance Period") to the investment record of the Index during the Performance Period. The investment performance of the Series will be determined by adding together (i) the change in the net asset value of Class A shares during the Performance Period, (ii) the value of cash distributions made by the Series to holders of its Class A shares to the end of the Performance Period, and (iii) the value of capital gains per share, if any, paid on undistributed realized long-term gains accumulated to the end of the Performance Period, and will be expressed as a percentage of the net asset value per share of the Class A shares at the beginning of the Performance Period. The investment performance of the Index will be determined by adding together (i) the change ...
Sample 1

Related to Base Fee Adjustment

  • Fee Adjustments The fixed fees and other fees expressed as stated dollar amounts in this Schedule C and in this Agreement are subject to annual increases, commencing on the one-year anniversary date of the date of this Agreement, in an amount equal to the percentage increase in consumer prices for services as measured by the United States Consumer Price Index entitled “All Services Less Rent of Shelter,” or a similar index should such index no longer be published, since such one-year anniversary or since the date of the last fee increase, as applicable.

  • Minimum Adjustment The adjustments required by the preceding sections of this Article IV shall be made whenever and as often as any specified event requiring an adjustment shall occur, except that no adjustment of the Exercise Price or the number of shares of Common Stock issuable upon exercise of the Warrants that would otherwise be required shall be made unless and until such adjustment either by itself or with other adjustments not previously made increases or decreases by at least 1% the Exercise Price or the number of shares of Common Stock issuable upon exercise of the Warrants immediately prior to the making of such adjustment. Any adjustment representing a change of less than such minimum amount shall be carried forward and made as soon as such adjustment, together with other adjustments required by this Article IV and not previously made, would result in a minimum adjustment. For the purpose of any adjustment, any specified event shall be deemed to have occurred at the close of business on the date of its occurrence. In computing adjustments under this Article IV, fractional interests in Common Stock shall be taken into account to the nearest one-hundredth of a share.

  • CPI Adjustment If the CPI Percentage Increase (as defined below) is more than [***] for the relevant Adjustment Period, then the Rent payable during that Adjustment Period shall be adjusted upward by a percentage equal to the CPI Percentage Increase (as defined below) applicable to such Adjustment Period, but not to exceed an adjustment during any Adjustment Period of greater than [***]. The term “Consumer Price Index” shall mean the unadjusted Consumer Price Index for All Urban Workers, U.S. City Average, All Items, 1982-84=100, calculated and published by the United States Department of Labor, Bureau of Labor Statistics. The “CPI Percentage Increase” shall mean, with respect to any Adjustment Period, [***]. For the avoidance of doubt, no CPI Adjustment shall be made to any payment due under this Ground Lease for any Adjustment Period if the result of such CPI Adjustment would be to (a) reduce the amount of such payment to an amount that is less than the amount of such payment due for the immediately preceding Adjustment Period or (b) to raise the amount of such payment to an amount that is greater than [***]. For illustrative purposes only, [***]. The CPI Percentage Increase for any Adjustment Period shall be calculated by the Tenant, and the Tenant shall deliver written notice to the Landlord describing such calculation in reasonable detail (a “CPI Notice”) no later than thirty (30) days after the commencement of any Adjustment Period. If the Landlord disagrees with the Tenant’s calculation of the CPI Percentage Increase, then the Landlord shall deliver to the Tenant written notice, describing the basis for such disagreement in reasonable detail (a “CPI Disagreement Notice”), not later than thirty (30) days after delivery of the CPI Notice. If the Landlord fails to deliver a CPI Disagreement Notice within thirty (30) days after delivery of any CPI Notice, then the Landlord shall be conclusively deemed to have agreed with the calculation of the CPI Percentage Increase set forth in such CPI Notice.

  • Performance Adjustment One-twelfth of the annual Performance Adjustment Rate will be applied to the average of the net assets of the Portfolio (computed in the manner set forth in the Fund's Declaration of Trust or other organizational document) determined as of the close of business on each business day throughout the month and the performance period.

  • PREMIUM ADJUSTMENT If THE COMPANY overpays a reinsurance premium and THE REINSURER accepts the overpayment, THE REINSURER’s acceptance will not constitute or create a reinsurance liability or increase in any existing reinsurance liability. Instead, THE REINSURER will be liable to THE COMPANY for a credit in the amount of the overpayment. If a reinsured policy terminates, THE REINSURER will refund the excess reinsurance premium. This refund will be on a prorated basis without interest from the date of termination of the policy to the date to which a reinsurance premium has been paid.

  • Cost Adjustments Both parties agree that contracted prices shall be fixed for the first 12 months of this Contract. Contractor must submit to District any proposed cost adjustments at least 60 days before the proposed effective date of such increases with a detailed explanation for each adjustment. District alone reserves the right to reject any changes to this Contract it deems unacceptable.

  • True-Up Adjustments From time to time, until the Retirement of the Recovery Bonds, the Servicer shall identify the need for True-Up Adjustments and shall take all reasonable action to obtain and implement such True-Up Adjustments, all in accordance with the following:

  • Performance Adjustment Rate Except as otherwise provided in sub-paragraph (e) of this paragraph 3, the Performance Adjustment Rate is 0.02% for each percentage point (the performance of the Portfolio and the Index each being calculated to the nearest .01%) that the Portfolio's investment performance for the performance period was better or worse than the record of the Index as then constituted. The maximum performance adjustment rate is 0.20%. For purposes of calculating the performance adjustment of the portfolio, the portfolio's investment performance will be based on the performance of the retail class. The performance period will commence with the first day of the first full month following the retail class's commencement of operations. During the first eleven months of the performance period for the retail class, there will be no performance adjustment. Starting with the twelfth month of the performance period, the performance adjustment will take effect. Following the twelfth month a new month will be added to the performance period until the performance period equals 36 months. Thereafter the performance period will consist of the current month plus the previous 35 months. The Portfolio's investment performance will be measured by comparing (i) the opening net asset value of one share of the retail class of the Portfolio on the first business day of the performance period with (ii) the closing net asset value of one share of the retail class of the Portfolio as of the last business day of such period. In computing the investment performance of the retail class of the Portfolio and the investment record of the Index, distributions of realized capital gains, the value of capital gains taxes per share paid or payable on undistributed realized long-term capital gains accumulated to the end of such period and dividends paid out of investment income on the part of the Portfolio, and all cash distributions of the securities included in the Index, will be treated as reinvested in accordance with Rule 205-1 or any other applicable rules under the Investment Advisers Act of 1940, as the same from time to time may be amended.

  • Market Adjustment The parties to this Agreement recognize the appropriateness of market pay adjustments in rare instances for compelling reasons. To effectuate judgments in such cases, the President and AAUP Chapter President, in consultation, shall each name three (3) individuals to a university Market Evaluation Committee. Deans may submit recommendations for market pay adjustments with supporting written reasons to the Committee. Said Committee shall consult with the President concerning proposed market pay adjustments reporting its advice not later than May 15 in each year. Upon the favorable recommendation of the President and the BOR President, market pay adjustments may be approved effective at the beginning of that pay period including September 1 of the following year. Not more than one (1) market pay adjustment per one hundred (100) full-time members, or fraction thereof, may be recommended in any contract year. A member’s salary may not be increased beyond the maximum for the rank. Funding for this program shall be governed by Article 12.10.2.

  • Base Rent Adjustment The Base Rent payable hereunder shall be adjusted upward from time to time in accordance with the following provisions: (a) Tenant shall pay to Landlord as an adjustment to Rent, an amount equal to the excess (the “Excess”) from time to time of total annual Operating Expenses per square foot of Rentable Area of the Premises, as Grossed-Up, over and above the Expense Stop. The Excess shall be obtained by multiplying (i) the difference between the annual Operating Expense per square foot of Rentable Area in the Premises and the Expense Stop, by (ii) the total Rentable Area of the Premises as set forth in Section 1.15. Such amount shall be paid in advance in monthly installments on the same dates as Base Rent is due and payable hereunder based on Landlord’s notice delivered to Tenant from time to time setting forth Landlord’s good faith estimate of the Operating Expenses for the current calendar year. Landlord shall have the right to adjust such amount no more than once a year to reflect any changes in Landlord’s estimate of Operating Expenses. (b) By April 1 of each calendar year during the Lease Term, or as soon thereafter as practicable, Landlord shall furnish to Tenant a statement (“Actual Statement”) of Landlord’s annual Operating Expenses, as Grossed-Up, for the previous calendar year. If for any calendar year the amounts collected from Tenant for the prior year, as a result of Landlord’s estimate of Operating Expenses, exceeds the amount of the Excess actually due during such prior year, then Landlord shall refund to Tenant any overpayment (or at Landlord’s option, apply such amount against Rent due or to become due hereunder). Likewise, Tenant shall pay to Landlord, on demand, any underpayment with respect to the prior year. (c) In the event of any good faith dispute as to the amount of the Excess as set forth in the statement of actual Operating Expenses, Tenant shall have the right, no more frequently than once per calendar year, after reasonable notice to Landlord and at reasonable times, to inspect and photocopy Landlord’s Operating Expenses records at Landlord’s offices. If, after such inspection and photocopy, Tenant continues, in good faith, to dispute the amount of the Excess as set forth in said statement, Tenant shall be entitled not later than one (1) year following Tenant’s receipt of an Actual Statement to retain a national, independent, certified public accountant who is not contracted on a contingency fee basis and is mutually acceptable to Landlord and Tenant to audit Landlord’s Operating Expenses records with respect to the calendar year covered by Actual Statement to determine the proper amount of the Excess. Landlord shall be entitled to review the results of such audit promptly after completion of same. If such audit proves that Landlord has overcharged Tenant, then within fifteen (15) days after the results of the audit are made available to Landlord, Landlord shall credit Tenant the amount of such overcharge toward the payments of Base Rent and Additional Rent next coming due under this Lease. If the results of such audit prove that Landlord has undercharged Tenant, then within fifteen (15) days after the results of the audit are made available to Tenant, Tenant shall pay to Landlord the amount of any such undercharge. Tenant agrees to pay the cost of such audit, provided that Landlord shall reimburse Tenant the amount of such cost if the results of such audit prove that Landlord’s determination of the Excess (as set forth in the Actual Statement) was in error by more than six percent (6%). If Tenant does not request an audit in accordance with the provisions of this Section 6(c) within one (1) year after Tenant’s receipt of an Actual Statement, such Actual Statement shall be conclusively binding upon Tenant. Landlord shall be required to maintain records of all Operating Expenses for three (3) years following the issuance of the Operating Expense statement for such Operating Expenses. The payment by Tenant of any amounts pursuant to this Article shall not preclude Tenant from questioning the correctness of any such statement.