Common use of Deductions from the Management Fee Clause in Contracts

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 expense 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 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 expense 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.