Management Fee and Expenses. (a) The Owners shall pay to the Managers an annual daily management fee as stated in Box 14 for their services as Managers under this Agreement, which shall be payable in equal monthly instalments in advance, the first instalment (pro rata if appropriate) being payable on the commencement of this Agreement (see Clause 2 (Commencement and Appointment) and Box 2) and subsequent instalments being payable at the beginning of every calendar month. The management fee shall be payable to the Managers' no minated account stated in Box 15.
(b) The Owners shall place with the Managers for the duration of this Agreement an amount equal to three months of management fee as stated in Box 14 as security. Upon termination of this Agreement, all moneys remaining within the security or any portion thereof, if the amounts due to the Managers pursuant with the obligations set forth in the management agreement and their addenda(if any) is less than the security amount paid as per above shall be returned to the Owners subject to the terms and conditions of this agreement. It is being understood that in event of default from the part of the Owner is forfeited in favor of the Manager without prejudice to any rights which the Managers may have against the Owner in law or in equity.
(c) The management fee shall be subject to an annual review for each calendar year and will be automatically adjusted to the Greek CPI index for the previous year. It is understood that any such increase will not be less than 3% and not more than 5% and t The proposed fee shall be presented in the annual budget in accordance with Sub-clause 13(a).
(d) The Managers shall, at no extra cost to the Owners, provide their own office accommodation, office staff, facilities and stationery. Without limiting the generality of this Clause 12 (Management Fee and Expenses) the Owners shall reimburse the Managers for postage and communication expenses, travelling expenses, and other out of pocket expenses properly incurred by the Managers in pursuance of the Management Services. Any days used by the Managers' personnel travelling to or from or attending on the Vessel or otherwise used in connection with the Management Services in excess of those agreed in the budget shall be charged at the daily rate stated in Box 16.
(e) If the Owners decide to layup the Vessel and such layup lasts for more than the number of months stated in Box 17, an appropriate reduction of the Management Fee for the period exceeding such perio...
Management Fee and Expenses. Manager shall receive a management fee at the prevailing market rate. Manager shall also be reimbursed for its reasonable expenses incurred in rendering services to the Company in its capacity as Manager of the Company.
Management Fee and Expenses. (a) The Owners shall pay to the Managers an annual management fee as stated in Box 14 for their services as Managers under this Agreement, which shall be payable in equal monthly instalments in advance, the first instalment (pro rata if appropriate) being payable on the commencement of this Agreement (see Clause 2 (Commencement and Appointment) and Box 2) and subsequent instalments being payable at the beginning of every calendar month. The management fee shall be payable to the Managers’ nominated account stated in Box 15.
(c) The Managers shall, at no extra cost to the Owners, provide their own office accommodation, office staff, facilities and stationery. Without limiting the generality of this Clause 12 (Management Fee and Expenses) the Owners shall reimburse the Managers for postage and communication expenses, travelling expenses, and other out of pocket expenses properly incurred by the Managers in pursuance of the Management Services. Any days used by the Managers’ personnel travelling to or from or attending on the Vessel or otherwise used in connection with the Management Services in excess of those agreed in the budget shall be charged at the daily rate stated in Box 16.
(e) Save as otherwise provided in this Agreement, all discounts, rebates and commissions, other than those that are not attributable to the Owner's vessels, obtained by the Managers in the course of the performance of the Management Services shall be credited to the Owners.
Management Fee and Expenses. (a) The Adviser will be paid a quarterly management fee (the “Management Fee”) for its investment advisory services provided hereunder, determined in accordance with Schedule A to this Agreement. During the term of this Agreement, the Management Fee shall be billed and payable in arrears on a quarterly basis within 10 days after the last day of each calendar quarter based upon the value of the Investment Account as of the last day of the immediately preceding calendar quarter. The Management Fee shall be pro-rated for any partial quarter. It is understood that, in the event that the Management Fee is to be billed and payable by the custodian out of the Investment Account, the Client will provide written authorization to the custodian to pay the Management Fee directly from the Investment Account.
(b) The Client shall be responsible for all expenses incurred directly in connection with transactions effected on behalf of the Client pursuant to this Agreement and shall include: the Management Fee; custodial fees; investment expenses such as commissions; and other expenses reasonably related to the purchase, sale or transmittal of Investment Account assets (other than research fees and expenses with respect to the Investment Account).
Management Fee and Expenses. (a) The Owners shall pay to the Managers an annual management fee as stated in Box 14 for their services as Managers under this Agreement, which shall be payable in equal monthly instalments in advance, the first instalment (pro rata if appropriate) being payable on the commencement of this Agreement (see Clause 2 (Commencement and Appointment) and Box 2) and subsequent instalments being payable at the beginning of every calendar month. The management fee shall be payable to the Managers’ nominated account stated in Box 15.
(b) The management fee shall be subject to an annual review and the proposed fee shall be presented in the annual budget in accordance with Sub-clause 13(a).
(c) The Managers shall, at no extra cost to the Owners, provide their own office accommodation, office staff, facilities and stationery. Without limiting the generality of this Clause 12 (Management Fee and Expenses) the Owners shall reimburse the Managers for postage and communication expenses, travelling expenses, and other out of pocket expenses properly incurred by the Managers in pursuance of the Management Services. Any days used by the Managers’ personnel travelling to or from or attending on the Vessel or otherwise used in connection with the Management Services in excess of 30 days those agreed in the budget shall be charged at the daily rate stated in Box 16.
Management Fee and Expenses. The Adviser will be paid a quarterly management fee (the "Management Fee") for its investment advisory services provided hereunder, determined in accordance with Schedule C to this Agreement. During the term of this Agreement, the Management Fee shall be billed and payable in arrears on a quarterly basis within 10 days after the last day of each calendar quarter based upon the value of the Investment Accounts as of the last day of the immediately preceding calendar quarter. The Management Fee shall be pro-rated for any partial quarter. It is understood that, in the event that the Management Fee is to be paid by the custodian out of the Investment Accounts, OneBeacon or the Clients will provide written authorization to the custodian to pay the Management Fee directly from the Investment Accounts.
(a) Each Investment Account shall be responsible for all expenses incurred directly in connection with transactions effected on behalf of the Investment Account pursuant to this Agreement and shall include: custodial fees; XXX accounting service fees, lnfomediary, investment expenses such as commissions; and other expenses reasonably related to the purchase, sale or transmittal of Investment Account assets (other than research fees and expenses with respect to the Investment Account).
Management Fee and Expenses. During the term of this Agreement, Tortoise shall pay to the Manager, for services rendered under this Agreement, an amount equal to ten percent (10%) of the base management fee paid quarterly to Tortoise by the Company pursuant to the Client Agreement; provided, however, that no such fee shall be payable by Tortoise to the Manager until the “Total Assets” initially exceed $75,000,000 as of the end of that particular fiscal quarter. The term “Total Assets” means the total assets of the Company (including any assets purchased with any borrowed funds). The management fee for each fiscal quarter shall be calculated and paid in arrears within thirty days of the end of each fiscal quarter. In case of the initiation or termination of this Agreement during any fiscal quarter, the management fee for that quarter shall be reduced proportionately on the basis of the number of calendar days during which this Agreement is in effect. In addition to payment of any management fee, the Manager shall be reimbursed on a quarterly basis for all out-of-pocket expenses reasonably incurred by the Manager in providing the Designated Services. The Manager shall submit to Tortoise an itemized list within fifteen days after the end of each fiscal quarter reflecting the items as to which the Manager anticipates reimbursement. Unless any request for reimbursement is disputed by Tortoise in good faith, Tortoise shall reimburse the Manager for all such itemized expenses within fifteen days after the receipt by Tortoise of the list of such expenses. In the event of a dispute, the parties shall negotiate in good faith to resolve such dispute promptly.
Management Fee and Expenses. (a) The Company shall pay WSI for the services performed by Whitxxx xxx other WSI personnel under this Agreement a fee at the annual rate of $275,000 (the "Management Fee"). The Management Fee shall be paid in equal monthly installments of $22,916.67 payable in arrears on the fifteenth day of each calendar month during the Initial Term and any Renewal Term, provided that until July 1, 1996, $12,500.00 of each monthly installment shall accrue and be paid on the closing by the Company of an initial public offering, with interest at the rate of 7% per annum compounded [quarterly] from the respective dates accrued until paid, and provided further that the Management Fee for periods after July 1, 1996 shall continue to accrue and be paid as provided above if the conditions precedent to the Round Three closing set forth in section 5(c) of the Subscription Agreement dated as of March 14, 1995 among the Company and the other parties listed therein have not been met.
(b) The Management Fee shall cover all expenses incurred by Whitxxx xxx other WSI personnel in performing services under this Agreement,
(c) The Company shall provide Whitxxx xxxh a suitable office at its principal office.
Management Fee and Expenses. 4.1 As compensation for providing the Services, MSP shall be entitled to receive the compensation that is described in Schedule “B” (the “Management Fee”).
4.2 The Management Fee shall be paid at the end of each calendar month or at other frequencies as the Corporation sees convenient and MSP agrees to. In any case, at the termination or end of the term of this Agreement, all outstanding compensations owed by the Corporation to MSP should be paid to MSP.
4.3 The Corporation shall provide MSP with the Management Fee in respect of the Services, provided that MSP has not breached, and is not otherwise in default of, MSP’s obligations under this Agreement.
4.4 No out-of-pocket expenses spent by MSP in carrying out the Services shall be reimbursed by the Corporation. However, for the greater clarity, expenses for seeking professional advices or services, including but not limited to legal matters and patent applications, are not considered as out-of-pocket expenses by MSP in carrying out the Services. Before engaging and disbursing these expenses, MSP must get prior approval in writing by the Corporation.
Management Fee and Expenses. (a) The Advisor will be paid a quarterly fee for its services, including the Portfolio Management Services, provided hereunder (the “Management Fee”, determined in accordance with Schedule A to this Agreement. During the term of this Agreement, the Management Fee shall be billed and payable in arrears on a quarterly basis within 10 days after the last day of each calendar quarter based upon the book value of the Investment Account, and, with respect to the Portfolio Management Services, the book value of the net assets of the Aggregate Investment Account, as of the last day of the immediately preceding calendar quarter. The Management Fee shall be pro-rated for any partial quarter. It is understood that, in the event that the Management Fee is to be billed and payable by the custodian out of the Investment Account, or, with respect to the Portfolio Management Services, the Agreement Investment Account, the Client will provide written authorization to the custodian to pay the Management Fee directly from the Investment Account, or, with respect to the Portfolio Management Services, the Aggregate Investment Account.
(b) The Client shall be responsible for all expenses incurred directly in connection with transactions effected on behalf of the Client pursuant to this Agreement and shall include: the Management Fee; custodial fees; State Street XXX accounting services; investment expenses such as commissions; and other expenses reasonably related (i) to the purchase, sale of transmittal of Investment Account assets (other than research fees and expenses with respect to the Investment Account) and (ii) providing the Portfolio Management Services.
6. Section 17 of the Agreement is amended by deleting it in its entirety and replacing it with the following:
