Business Management Fee Sample Clauses
The Business Management Fee clause defines the payment terms and conditions under which a business management company or service provider is compensated for managing certain aspects of a client's business operations. Typically, this fee is calculated as a fixed amount, a percentage of revenue, or based on specific performance metrics, and is paid at regular intervals such as monthly or quarterly. By clearly outlining the basis and schedule for these payments, the clause ensures transparency and helps prevent disputes over compensation for management services.
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Business Management Fee. The Business Manager shall be entitled to receive the quarterly Management Fee (the “BM Fee”), if any, to which the Business Manager is entitled pursuant to the terms and conditions of Business Management Agreement, prorated through the date of the termination of the Business Management Agreement pursuant to Section 2.02 of this Agreement. The Business Manager shall prepare and furnish to the Company, not later than two (2) business days prior to the Closing, a statement setting forth a calculation and estimate, in good-faith and consistent with past practice, of any pro rata BM Fee payable to the Business Manager for the calendar quarter in which the Closing occurs and the Company shall pay the BM Fee set forth in such statement to the Business Manager at the Closing. The amount of the BM Fee paid at Closing pursuant to the preceding sentence shall be subject to adjustment following the Closing based upon a final statement setting forth a calculation of the pro rata BM Fee payable to the Business Manager prepared by the Business Manager and furnished to Merger Sub or Parent not later than thirty (30) days following the Closing. Parent or Merger Sub, as successor to the Company, on the one hand, and Business Manager, on the other hand, shall be responsible for paying any additional amount owed to the other based upon such post-Closing adjustment and shall pay any such amount within three (3) business days after receipt by Merger Sub or Parent of the statement setting forth such post-Closing adjustment.