Deductions from the Management Fee Sample Clauses
The 'Deductions from the Management Fee' clause defines the circumstances under which certain amounts may be subtracted from the management fee payable to a service provider or manager. Typically, this clause outlines specific costs, penalties, or reimbursements—such as overpayments, damages, or expenses advanced by the client—that can be deducted before the fee is paid out. By clearly specifying allowable deductions, the clause helps prevent disputes over payment amounts and ensures that the manager is only compensated for net services rendered, thereby protecting the client's financial interests.
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Deductions from the Management Fee. Notwithstanding Section 6.08(a), the Authority shall have the right to deduct from the Management Fee any amounts due to the Authority from the Contractor, including, but not limited to, Non-Reimbursable Expenses and Liquidated Damages as described in Article 6 and Article 12, herein. Further, if the Authority pays any sum or incurs any obligations or expenses because of the failure, inability, neglect or refusal of the Contractor to perform or fulfill any of the terms or conditions of this Contract, then the Authority shall also have the right to deduct said expenses from the Management Fee. The Authority shall provide the Contractor with written notice of the deduction and the reasons therefore within five (5) business days after taking the deduction. The Authority’s remedies for Operating Receipts due to the Authority by Contractor are not limited to Management Fee deductions.
Deductions from the Management Fee. Notwithstanding this Article VII.J., the Authority shall have the right to deduct from the Management Fees payable to the Contractor any amounts due the Authority from the Contractor, including, but not limited to, unauthorized or disputed expenses and Liquidated Damages as described in Article X. herein. If the Authority pays any sum or incurs any obligations or expenses because of the failure, inability, neglect or refusal of the Contractor to perform or fulfill any of the terms or conditions of this Contract that it is obligated to perform or fulfill, then the Authority shall have the right to deduct said expenses from the Contractor’s Management Fee.