Consulting Fee. As compensation for all Services rendered pursuant to this Agreement, Manager shall pay Consultant a consulting fee (the "Consulting Fee"), equal to TWENTY-FIVE AND 765/100 PERCENT (25.765%) of the Total Management Fee (defined below) payable to Manager. The Consulting Fee shall be payable by Manager to Consultant monthly within ten (10) days after the close of each calendar month, beginning June 10, 2003, which fee shall be pro-rated for any partial month during the Term. The term "Total Management Fee" means the total of the base and incentive fees payable to Manager under the terms of each Management Agreement in effect during the Term of this Agreement, as calculated pursuant to a statement prepared by Manager and submitted to Consultant together with each monthly Consulting Fee, setting forth in reasonable detail the management and incentive fees paid to Manager under each Management Agreement subject of this Agreement.
Appears in 8 contracts
Samples: Asset Management and Consulting Agreement (Ashford Hospitality Trust Inc), Asset Management and Consulting Agreement (Ashford Hospitality Trust Inc), Asset Management and Consulting Agreement (Ashford Hospitality Trust Inc)
