Expense Management Sample Clauses

Expense Management. If the Actual Expenses for Eligible Properties for any Collection Period exceed the Approved Amount for such Collection Period, the Master Property Manager shall, not later than the Reporting Date for such Collection Period, certify to the Agent in writing the amount of such excess, together with details of such excess, including the Property or Properties to which such excess relates, the amounts of all Actual Expenses paid in respect of Eligible Properties during such Collection Period for all Properties and the reason or reasons that such excess arose. Upon receipt of such certification, the Agent may request additional detail from the Master Property Manager and, upon the Agent’s receipt of all requested detail, the Agent may approve (subject to the right of the Lenders to submit a Formal Objection within three (3) Business Days after notice of the Agent’s approval is posted to the Data Site by the Master Property Manager) or not approve such excess. Subject to the provisions of Section 2.15(c), if the Agent approves such excess or any portion thereof, the Agent shall direct the Paying Agent to withdraw from the Ongoing Reserve Account the amount so approved and, in accordance with such direction from the Agent, either (i) if the Master Property Manager has reimbursed or advanced to a Property Manager the amount of such excess, pay such amount to the Master Property Manager or (ii) if the Master Property Manager has not reimbursed or advanced to a Property Manager such excess, include such amount in the Available Funds for such Collection Period (to account for such amount not being included in the Net Collections for such Payment Date). If the Agent does not approve such excess or any portion thereof, (x) the Agent shall direct the Paying Agent to withdraw from the Ongoing Reserve Account such amount and include such amount in the Available Funds for such Collection Period and (y) such excess shall be an “Excess Expense” and shall, to the extent the Master Property Manager has reimbursed or advanced to a Property Manager such excess, be reimbursed to the Master Property Manager solely in accordance with Section 2.8(b)(xii).
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Related to Expense Management

  • Case Management Prompt resolution of any dispute is important to both parties; and the parties agree that the arbitration of any dispute shall be conducted expeditiously. The arbitrators are instructed and directed to assume case management initiative and control over the arbitration process (including scheduling of events, pre-hearing discovery and activities, and the conduct of the hearing), in order to complete the arbitration as expeditiously as is reasonably practical for obtaining a just resolution of the dispute.

  • Base Management Fee The Base Management Fee will be calculated at an annual rate of 2.0% of the Company’s gross assets, exclusive of cash and cash equivalents. The base management fee will be payable quarterly in arrears and will be calculated based on the average value of the Company’s gross assets at the end of the two most recently completed calendar quarters (and, in the case of our first quarter, our gross assets as of such quarter-end). The base management fee may or may not be taken in whole or in part at the discretion of the Adviser. All or any part of the base management fee not taken as to any quarter will be deferred without interest and may be taken in such other quarter as the Adviser will determine. The base management fee for any partial month or quarter will be appropriately prorated.

  • Incentive Management Fee In addition to the Management Fee, RREM shall, on an annual basis, pay to Manager, an Incentive Management Fee equal to thirty percent (30%) of the actual income for each calendar year in excess of 110% of the budgeted income for such calendar year, not to exceed $7,500.

  • Construction Management Landlord or its Affiliate or agent shall supervise the Work, make disbursements required to be made to the contractor, and act as a liaison between the contractor and Tenant and coordinate the relationship between the Work, the Building and the Building’s Systems. In consideration for Landlord’s construction supervision services, Tenant shall pay to Landlord a construction supervision fee equal to three percent (3%) of Tenant’s Costs specified in Section 7.

  • Member Management Except as otherwise expressly provided in this Agreement, the business and affairs of the LLC shall be managed and controlled by the Member, and the Member shall have full, exclusive and complete authority and discretion to make all the decisions affecting the business and affairs of the LLC, and to take all such actions as the Member deems necessary or appropriate to accomplish the purposes of the LLC; and any actions taken by the Member shall be binding on the LLC.

  • Program Management (WBS 1.1) All components of the Project Management Plan as implemented for the Base Contract and Options 1-4 will be reviewed and amended to reflect specific needs for Option 5 and the outcome of continuous process improvement evaluations.

  • Change Management BNY Mellon shall require that changes to its network or software used to provide the services are tested and applied pursuant to a documented change management process.

  • Agent’s Management Time Any amount payable to the Agent under Clause 14.3 (Indemnity to the Agent), Clause 16 (Costs and expenses) and Clause 25.10 (Lenders’ indemnity to the Agent) shall include the cost of utilising the Agent’s management time or other resources and will be calculated on the basis of such reasonable daily or hourly rates as the Agent may notify to the Parent and the Lenders, and is in addition to any fee paid or payable to the Agent under Clause 11 (Fees).

  • Project Management With respect to each Project Plan, each party will appoint a project manager who will be the party responsible for overseeing the Project Plan.

  • Construction Management Fee In connection with the Construction Projects, on a project by project basis, Property Manager shall be paid a fee equal to five percent (5%) of the hard costs for the project in question (the “Construction Management Fee”). The Construction Management Fee shall be payable from the Operating Account or from other funds timely provided by Company.

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