Deferral of Fees. A Director may elect to defer all or a specified percentage of his or her Fees, and may change such percentage by filing a Participation Agreement with the Administrator, which shall be effective as of the first day of the Plan Year which commences after the date such Participation Agreement is filed with the Administrator.
Deferral of Fees. Subject to the terms and conditions of the Agreement, the Bank, the Company and the Director agree to defer payment of fees of which the Director would otherwise be entitled to be paid ("Deferred Fees"), for a period of up to five years from the date hereof.
Deferral of Fees. On receipt of a written election by a Director, Xxxxxxxx Federal Savings and Loan Association will establish an accounting record of the fees deferred by such Director. The deferred fees will be recorded as a current operating expense for accounting purposes but will not be deducted by Xxxxxxxx Federal Savings and Loan Association on its income tax returns until the year of actual payment. An unfunded liability for deferred but unpaid fees and accumulated interest will be recorded on the books and records of Xxxxxxxx Federal Savings and Loan Association. Nothing contained herein shall be deemed to create a trust of any kind. No participant shall have any right to receive any current or accumulated deferred compensation or interest for any year until such time as described in Section 6. To the extent that any person, including the participant, acquired a right to receive payments from Xxxxxxxx Federal Savings and Loan Association under the Agreement such right shall be no greater than the right of any unsecured general creditor of Xxxxxxxx Federal Savings and Loan Association. Furthermore, such right may not be pledged, transferred or assigned in whole or in part.
Deferral of Fees. The Director has elected to defer receipt of Director's fees to be earned during the Deferral Period. Once the Director has executed the Election to Participate Form, a subsequent increase in the Director's fees payable due to an increase in the fee structure shall also be deferred under the provisions of this Agreement, unless the Director directs the Secretary in writing within 10 days after notification of the increase and prior to the right to receive the additional fees that such additional fees are not to be deferred. If Director fees are increased or decreased during the Deferral Period, the Compensation payable under Article 3 and Article 4 shall be actuarially determined and evidenced by the Addendum to this Agreement.
Deferral of Fees. Notwithstanding the provisions of Sections 7(c)(A)-(F) with respect to the Market Rate Fees (the "Deferrable Fees"), the Manager, on behalf of itself and its Affiliates, and its and their respective successors and assigns, hereby agrees that it may defer all or a portion of the Deferrable Fees with respect to all or any portion of the Real Estate Assets, as determined by the Manager (any fees so deferred, "Deferred Fees") but only with the mutual written agreement and consent of CDS. Upon a Capital Event Transaction with respect to any Real Estate Asset or upon Termination without Cause, all such Deferred Fees shall immediately become due and payable.
Deferral of Fees. The Director has elected to defer receipt of Five Thousand Five Hundred and 00/100 Dollars ($5,500.00) annually of Director's fees to be earned during the five year period which commenced with the execution of the Election to Participate Form (a copy of which is attached hereto), said form to be filed with the Secretary of the Board. Any increase in Director's fees payable to the Directors of the Bank due to an increase in the fee structure shall be covered by the above mentioned election unless the Director directs the Secretary in writing within 10 days after notification of the increase and prior to the right to receive the additional fees that such additional fees are not to be deferred. If Director fees are increased or decreased during the deferral period, the compensation payable under paragraph (3) and (4) shall be determined by reference to the Adjustment Schedule held by the Secretary and adopted by the Board of Directors and evidenced by an addendum to this Agreement.
Deferral of Fees. In Raclin's discretion, she may elect to defer the payment of all or a portion of the consulting fees that she is to receive under this Agreement, according to the following procedures:
Deferral of Fees. BKC hereby agrees that all royalties, franchise fees and, if required, development fees owed by IFFC and/or IFFP falling due after the date hereof (including, for the avoidance of doubt, seven franchise fees totaling $280,000, previously rolled up and payable on December 31, 1999, together with the development fee of $250,000 which fell due on September 14, 1999 (collectively, the "Fees")) will be rolled-up and be paid in one lump sum on the date (the "Payment Date") which is the earlier to occur of (i) January 15, 2001 or (ii) such date BKC is require to make a payment to Citibank pursuant to the Guarantee. After the Payment Date, all Fees will be paid in accordance with the agreements under which such Fees are required to be paid.
Deferral of Fees. (i) Notwithstanding the provisions of Sections 7(b) and 7(h) with respect to the Asset Management Fee, Multifamily Property Management and Leasing Fee, the Retail Management Fee, the Retail Leasing Fee and the General and Administrative Expenses Fee (the "Deferrable Fees"), the Manager, on behalf of itself and its affiliates, and its and their respective successors and assigns, hereby agrees that it may defer all or a portion of the Deferrable Fees with respect to all or any portion of the Company's assets, as determined by the Manager (any fees so deferred, "Deferred Fees"). The Manager agrees to promptly deliver to the Company written notice of any deferral of the Deferrable Fees.
Deferral of Fees. Section 7 of the Management Agreement is hereby amended to add the following Section 7(i):
