Common use of Incentive Management Fee Clause in Contracts

Incentive Management Fee. The Incentive Management Fee shall be payable to Manager in quarterly installments in arrears within fifteen (15) days of delivery to Owner of each Quarterly Report with respect to the end of the calendar quarter to which such Incentive Management Fee installment relates. Each installment payment of the Incentive Management Fee shall equal the Incentive Management Fee for the period consisting of the preceding four (4) calendar quarters, less the sum of all prior installment payments of Incentive Management Fee attributable to such period (and subject to any adjustments made in connection with any annual reconciliations undertaken pursuant to Section 3.1.3). At the time of submission of each Quarterly Report, Manager shall provide to Owner a computation of the Incentive Management Fee installment payment in reasonable detail and certified by Manager’s Designated Financial Officer. Any disputes regarding the Incentive Management Fee shall be referred to the Expert for Expert Resolution pursuant to Article XVII.