Fees and Annual Caps Sample Clauses

Fees and Annual Caps. In consideration of construction management and operation management services provided by, as well as the licensing of certain intellectual property rights granted by the Group, the Group will receive fees of 30% of the net property income generated by the Project Companies each year after the relevant Xxxxx Plaza commences operation. For the purpose of determining such fees, the net property income refers to the gross property income generated from the operation of the Project Companies minus reasonable costs and expenses. Notwithstanding the above, if in any year the 70% of the net property income generated by the Project Companies and attributable to Xxxxx Xxxxx is less than the relevant investment return for that specific year as prescribed in the Light Asset Cooperation Framework Agreement, the net property income attributable to Xxxxx Wenyu shall be increased to the extent of the net property income received by the Group. Such adjustment shall terminate after seven years from the effective date of the Light Asset Cooperation Framework Agreement. After that, if the 70% of the net property income generated by the Project Companies and attributable to by Xxxxx Xxxxx in any year is more than the annualized return of 7.5% on the investment of Xxxxx Wenyu, Xxxxx Xxxxx will increase the allocation of the net property income to the Group to the extent of the excess of the net property income over the annualized return of 7.5% on the investment of Xxxxx Wenyu. The fees above are determined after arm’s length negotiations with reference to (i) the Company’s business and project management experiences obtained from previous practices; and (ii) profit margin of the similar properties on the market as known to the Company. The proposed annual caps under the Light Asset Cooperation Framework Agreement for each of the years ending 31 December 2021 are set out below: 2015 2016 2017 2018 2019 2020 2021 0 24.41 127.26 133.21 139.92 156.15 164.82 Construction management and operation management services and licensing of certain intellectual property rights In determining the annual caps listed above, the Directors have taken into account, among other things, (i) the expected timetable of construction, operation and generation of income by the Project Companies, and (ii) the estimated net property income generated by the Project Companies after they commence operations; and (iii) the allocation of the income as agreed under the Light Asset Cooperation Framework Agreemen...
Sample 1
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Fees and Annual Caps. In consideration of construction management and operation management services provided by, as well as the licensing of certain intellectual property rights granted by the Group, the Group will receive fees of 30% of the net property income generated by the Project Companies each year after the relevant Xxxxx xxxxxx commence operation. For the purpose of determining such fees, the “net property income” refers to the gross property income generated from the operation of the Project Companies minus reasonable costs and expenses. Notwithstanding the above, if in any year the 70% of the net property income generated by the Project Companies and attributable to Xxxxx Wenpu is less than the relevant investment return for that specific year as prescribed in the Light Asset Cooperation Framework Agreement, the net property income attributable to Xxxxx Wenpu shall be increased to the extent of the net property income received by the Group. If the 70% of the net property income generated by the Project Company attributable to Xxxxx Wenpu in any subsequent year within the investment period is more than the annualized return of 7.5% of the investment of Xxxxx Wenpu, the exceeding part shall be refunded to the Group to the extent of the additional net property income received by Xxxxx Wenpu as a result of the above increases in the preceding years. Such adjustment shall terminate after four years from the date of the Light Asset Cooperation Framework Agreement. The fees above are determined after arm’s length negotiations with reference to (i) the Company’s business and project management experiences obtained from previous practices; and (ii) profit margin of the similar properties on the market as known to the Company. The proposed annual caps under the Light Asset Cooperation Framework Agreement for the five years ending 31 December 2019 are set out below: and operation management service and licensing of certain intellectual property rights In determining the annual caps listed above, the Directors have taken into account, among other things, (i) the expected timetable of construction, operation and generation of income by the Project Companies, and (ii) the estimated net property income generated by the Project Companies after they commence operations; and (iii) the allocation of the income as agreed under the Light Asset Cooperation Framework Agreement.
Sample 1

Related to Fees and Annual Caps

  • Contract Duration and Annual Salary 1. The College hereby employs the Administrator in the capacity of Director - Marketing Services, Associate Professor for one year, commencing on July 1, 2024 and terminating on June 30, 2025. The Administrator accepts such employment on the conditions hereinafter set forth, and any applicable provisions of the Board of Trustees Policy Manual. In the event of conflict between Board Policy and this Contract, the Contract shall govern. 2. For the 2024-2025 contract year, the Administrator shall receive an annual salary of $178,054.00 subject to applicable deductions, to be paid in bi-weekly installments as full compensation for all rights granted and service performed under this Contract.

  • Quarterly and Annual Reconciliation 10.6.1 The Parties acknowledge that all payments made against Monthly Bills and Supplementary Bills shall be subject to quarterly reconciliation within 30 days of the end of the quarter at the beginning of the following quarter of each Contract Year and annual reconciliation at the end of each Contract Year within 30 days to take into account the Energy Accounts, Tariff adjustment payments, Tariff Rebate, Late Payment Surcharge, or any other reasonable circumstance provided under this Agreement. 10.6.2 The Parties, therefore, agree that as soon as all such data in respect of any quarter of a Contract Year or a full Contract Year as the case may be has been finally verified and adjusted, the SPD and SECI shall jointly sign such reconciliation statement. Within fifteen (15) days of signing of a reconciliation statement, the SPD shall make appropriate adjustments in the next Monthly Bill. Late Payment Surcharge/ interest shall be payable in such a case from the date on which such payment had been made to the invoicing Party or the date on which any payment was originally due, as may be applicable. Any Dispute with regard to the above reconciliation shall be dealt with in accordance with the provisions of Article 16.

  • Types and Amounts 39 3.4 Conditions..................................................39 3.5 Procedure for Issuance of Letters of Credit.................40 3.6 Letter of Credit Participation..............................40 3.7 Reimbursement Obligation....................................40 3.8 Letter of Credit Fees.......................................42 3.9 Issuing Bank Reporting Requirements.........................42 3.10 Indemnification; Exoneration................................42 3.11 Cash Collateral.............................................43

  • Average Annual Compensation The Executive's "Average Annual Compensation" for purposes of this Agreement shall be deemed to mean the average level of compensation paid to the Executive by the Employers or any subsidiary thereof during the most recent five taxable years preceding the Date of Termination, including Base Salary and benefits and bonuses under any employee benefit plans of the Employers.

  • Term and Annual Renewal The term of this Agreement shall be from the date of its approval by the vote of a majority of the Board of each Issuer, and it shall continue in effect from year to year thereafter only so long as such continuance is specifically approved at least annually by the vote of a majority of its Board, and the vote of a majority of those members of the Board who are neither parties to the Agreement nor interested persons of any such party, cast at a meeting called for the purpose of voting on such approval. “Approved at least annually” shall mean approval occurring, with respect to the first continuance of the Agreement, during the 90 days prior to and including the date of its termination in the absence of such approval, and with respect to any subsequent continuance, during the 90 days prior to and including the first anniversary of the date upon which the most recent previous annual continuance of the Agreement became effective. The effective date of the Agreement with respect to each Fund is identified in the Schedule A of this Agreement.

  • Payments and Computations, Etc (a) All amounts to be paid or deposited by the Seller or the Servicer hereunder or under any other Transaction Document shall be made without reduction for offset or counterclaim and shall be paid or deposited no later than noon (New York, New York time) on the day when due in same day funds to the account for each Purchaser maintained by the applicable Purchaser Agent as may be designated from time to time by such Purchaser Agent to the Seller and the Servicer. All amounts received after 1:00 p.m. (New York, New York time) will be deemed to have been received on the next Business Day. Except as expressly set forth herein, each Purchaser Agent shall distribute the amounts paid to it hereunder for the benefit of the Purchasers in its Purchaser Group to the Purchasers within its Purchaser Group ratably (x) in the case of such amounts paid in respect of Discount and fees, according to the Discount and fees payable to such Purchasers and (y) in the case of such amounts paid in respect of Capital (or in respect of any other obligations other than Discount and fees), according to the outstanding Capital funded by such Purchasers. (b) The Seller (with respect to amounts payable by the Seller) or the Servicer (with respect to amounts payable by the Servicer), as the case may be, shall, to the extent permitted by law, pay interest on any amount not paid or deposited by the Seller or the Servicer, as the case may be, when due and payable hereunder, at an interest rate equal to 2.00% per annum above the Base Rate, payable on demand; provided, that such rate shall not at any time exceed the maximum rate permitted by applicable Law. (c) All computations of interest under clause (b) and all computations of Discount, fees and other amounts hereunder shall be made on the basis of a year of 360 days (or 365 or 366 days, as applicable, with respect to Discount or other amounts calculated by reference to the Base Rate) for the actual number of days elapsed. Whenever any payment or deposit to be made hereunder shall be due on a day other than a Business Day, such payment or deposit shall be made on the next Business Day and such extension of time shall be included in the computation of such payment or deposit.

  • To be Provided Annually but no later than December 1 i) Current complete address listing, ii) Details of all absences of members from the workplace due to an injury for which the member received Workplace Safety and Insurance Board benefits, iii) All approved leaves of absence including type of leave. Any additional information requests beyond that noted above may be provided, if possible, by the Employer at the expense of the Plan, unless the Employer is obligated by law to provide the information.

  • Adjustments to Required Subordinated Percentages and Amount (a) On any date, the Issuer may, at the direction of the Beneficiary, change the Required Subordinated Percentage of Class B Notes, the Required Subordinated Percentage of Class C Notes or the Required Subordinated Percentage of Class D Notes, in each case for the Class A(2016-4) Notes, without the consent of any Noteholders; provided that the Issuer has received written confirmation from each applicable Note Rating Agency that the change in such percentage will not result in a Ratings Effect for any Tranche of Outstanding DiscoverSeries Notes. (b) On any date, the Issuer may, at the direction of the Beneficiary, replace all or a portion of the Required Subordinated Amount of Class B Notes, the Required Subordinated Amount of Class C Notes or the Required Subordinated Amount of Class D Notes, in each case for the Class A(2016-4) Notes with a different form of credit enhancement (including, without limitation, a cash collateral account, a letter of credit, a reserve account, a surety bond, an insurance policy or a collateral interest, or any combination thereof) and may add such definitions and other terms and make such additional amendments to this Terms Document as shall be necessary for such replacement without the consent of any Noteholders, provided that the Issuer has received written confirmation from each applicable Note Rating Agency that such replacement and such other amendments will not result in a Ratings Effect for any Tranche of Outstanding DiscoverSeries Notes.

  • Other Fees and Expenses Borrower shall pay to Agent, for its own account, all charges for returned items and all other bank charges incurred by Agent, as well as Agent's standard wire transfer charges for each wire transfer made under this Agreement.

  • Interest Rates and Letter of Credit Fee Rates Payments and Calculations (a) Interest Rates. Except as provided in Section 2.13(c) and Section 2.15(a), all Obligations (except for the undrawn portion of the face amount of Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal to the lesser of (i) the LIBOR Rate plus the Applicable Margin, or (ii) the maximum rate of interest allowed by applicable laws; provided, that following notice to Borrower in accordance with Section 2.15(a) hereof, all Obligations that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal, during the duration of the circumstances described in Section 2.15(a), to the lesser of (A) the Base Rate plus the Applicable Margin as calculated pursuant to Section 2.15(a) or (B) the maximum rate of interest allowable by applicable laws.

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