Base Management Fees. (a) The Manager is entitled to receive a Base Management Fee in respect of each calendar month.
(b) The Base Management Fee for a calendar month is to be calculated by the Manager as of the last day of the relevant calendar month and notice of such Base Management Fee calculation shall be provided by the Manager to the Company and the Compensation Committee within five Business Days after such day.
(c) The Base Management Fee calculated pursuant to Section 7.2(b) above will be allocated between the Company and the Managed Subsidiaries in accordance with the Company’s corporate allocation policy and otherwise in accordance with GAAP.
(d) The Base Management Fee to which the Manager is entitled under this Section 7.2 is due in cash (subject to Section 7.2(e)) as of the last day of the relevant calendar month and shall be settled by the Company and the Managed Subsidiaries (in accordance with the allocation pursuant to Section 7.2(c) above) within 10 Business Days of receipt by the Company of notification pursuant to Section 7.2(b).
(e) The Manager has the right but not the obligation to invest all or a portion of the Base Management Fee to which the Manager is entitled under this Section 7.2 in Company Common Units.
(i) If the Manager determines to invest all or any portion of its Base Management Fee with respect to a calendar month in Company Common Units, the Manager shall be entitled to purchase, upon payment and subject to clause (iii) below, that number of Company Common Units equal to such amount of the Base Management Fee calculated pursuant to Section 7.2(b), divided by the volume weighted average trading price of a Company Common Unit during the period commencing on and including the first Trading Day of such calendar month and ending on and including the last Trading Day of such calendar month (such volume weighted average trading price, the “Base Fee VWAP”).
(ii) In the event the Manager determines to invest all or any portion of its Base Management Fee for any calendar month in Company Common Units, it shall notify the Company and the Compensation Committee of the percentage of the Base Management Fee to be invested in Company Common Units during the period commencing on and including the third Trading Day after the Earnings Release Day immediately preceding such calendar month and ending on and including the 22nd Trading Day after such Earnings Release Day (such period, an “Election Period”) (subject to the third sentence of this Section 7.2(e)(...
Base Management Fees. In consideration of the services to be performed during the Term of this Agreement by Management Company, Management Company shall be paid a periodic base management fee (“Base Management Fee”) in the amount of four percent (4%) of Gross Revenues for each Accounting Period. Each such periodic fee shall be paid to Management Company (or retained by Management Company as provided below) at such time as the final monthly report for such Accounting Period is submitted to TRS as provided in Section 6.02 A below.
Base Management Fees. Manager hereby agrees to a base sub-management fee (the “Sub-Management Fee”) of 3.25%of the Gross Revenues for each Accounting Period, which shall be paid out of the Manager’s Base Management Fee as set forth in Section 6.01 A of the Management Agreement (the “Base Management Fee”). Sub-Manager shall be entitled to retain such Sub-Management Fee from the Gross Revenues in accordance with Section 6.01 A of the Management Agreement, provided Sub-Manager remits the remaining 0.75% percent of the Base Management Fee to Manager within twenty (20) days after the close of each Accounting Period.
Base Management Fees. In consideration of the services to be performed during the term of this Agreement by Management Company, Management Company shall be paid a periodic base management fee ("Base Management Fee") in the amount of four percent (4%) of Gross Revenues for each Accounting Period.[In the event that there are 250 or more rooms in the Hotel, the Base Management Fee shall be 3% rather than 4%] Each such periodic fee shall be paid to Management Company (or retained by Management Company as provided below) at such time as the final monthly report for such Accounting Period is submitted to Owner as provided in Section 6.02 A below.
Base Management Fees. In consideration of the services to be performed during the term of this Agreement by Manager, the Lessee shall pay to the Manager a periodic base management fee ("Base Management Fee") in the amount of two percent (2%) of Gross Revenues for each month. Each such periodic fee shall be paid to Manager (or retained by Manager as provided below) at such time as the final monthly report for such month is submitted to Lessee pursuant to Section 5.04.
Base Management Fees. (I) The Management Fee shall equal 0.4375% per quarter (1.75% annualized) of the Company’s Managed Assets, except as provided by (II) and (III) below.
(II) Until the date on which the Company is Fully Invested, the Management Fee with respect to that portion of the Company’s Managed Assets that are held in cash and cash equivalents shall equal 0.0625% per quarter (0.25% annualized).
(III) During the period from the Closing Date through the first anniversary of the Closing Date, subject to clause (II) above, the Management Fee shall equal 0.375% per quarter (1.5% annualized) of the Company’s Managed Assets.
Base Management Fees. In consideration of the services to be performed during the Term of this Agreement by Management Company, Management Company shall be paid a periodic base management fee (“Base Management Fee”) in the amount of (i) two and three quarters percent (2.75%) of Gross Revenues for each Accounting Period from and after the Plan Effective Date through and including December 31, 2022; and (ii) two and one half percent (2.5%) of Gross Revenues for each Accounting Period from and after January 1, 2023. Each such periodic fee shall be paid to Management Company (or retained by Management Company as provided below) at such time as the final monthly report for such Accounting Period is submitted to TRS as provided in Section 6.02 A below.
Base Management Fees. In the event of termination of this -------------------- Agreement for any reason except pursuant to Clause 12.1(b)(i) due to a Manager Payment Default or Manager Dissolution Default, the Base Management Fees accruing as of the first day of the calendar month following the month in which the Termination Notice is delivered shall no longer be calculated based upon actual NOI per-CEU, per-day, but shall be based upon the average NOI per-CEU, per-day for the three (3) full calendar months immediately preceding the Termination Notice. In the event of termination of this agreement pursuant to Clause 12.1(b)(i) due to a Manager Payment Default or Manager Dissolution Default, as of the date of the Termination Notice, Manager shall be entitled to no Base Management Fees.
Base Management Fees. (a) The Manager is entitled to receive a Base Management Fee in respect of each Fiscal Quarter.
(b) The Base Management Fee for a Fiscal Quarter is to be calculated by the Manager as of the Fiscal Quarter End Date for the relevant Fiscal Quarter and notice of such Base Management Fee calculation shall be provided to the Company and the Compensation Committee within 20 Business Days after that Fiscal Quarter End Date.
(c) The Base Management Fee calculated pursuant to Section 7.2(b) above will be allocated between the Company and the Managed Subsidiaries in accordance with the Company's corporate allocation policy and otherwise in accordance with GAAP.
(d) The Base Management Fee to which the Manager is entitled under this Section 7.2 is payable in cash by the Company and the Managed Subsidiaries (in accordance with the allocation pursuant to Section 7.2(c) above) to the Manager within 10 Business Days of receipt by the Company of notification pursuant to Section 7.2(b), subject to Section 7.2(e).
(e) The Manager has the right but not the obligation to invest all or a portion of the Base Management Fee to which the Manager is entitled under this Section 7.2
Base Management Fees. For each Fiscal Year, Operator shall receive as compensation for services during the year a “Base Management Fee” equal to three and one-half percent (3½%) of the Gross Volume of Business.
