Management Fee Expenses. (a) In consideration for the provision by the Investment Adviser of its services hereunder and the Investment Adviser's bearing of certain expenses, the Fund shall pay the Investment Adviser a fee payable quarterly, equal to 0.1875% (0.75% on an annualized basis) of the Fund's "net assets" (the "Management Fee"). "Net assets" shall equal the total value of all assets of the Fund, less an amount equal to all accrued debts, liabilities and obligations of the Fund calculated before giving effect to any repurchases of interests. However, so long as substantially all of the Fund's assets are invested in the Master Fund, the Fund will not be subject to the Management Fee.
Management Fee Expenses. (a) Neither the Manager nor the Special Purpose Manager shall receive any management or other fee or salary for services rendered to the Company, or reimbursement of any costs and expenses incurred in connection therewith, except as permitted pursuant to Section 1.9 (c) or as provided in Section 5.5(b).
(b) The Manager and the Special Purpose Manager shall each be entitled to current reimbursement out of Company assets for all reasonable costs and expenses incurred by it when acting for or on behalf of the Company and in accordance with the terms of this Agreement specifically including, but not limited to, all salaries and related expenses of its employees performing authorized services for the Company. The Manager shall be entitled to an annual fee in the amount of $100,000, payable quarterly in advance, for accounting and administrative services.
Management Fee Expenses. (a) In return for the provision of the Services and for the other actions of the Manager hereunder, the Company shall pay the Manager an annual management fee equal to 1% of the outstanding aggregate principal balances of the Notes (“Management Fee”). The Management Fee will be paid in arrears on the last day of each calendar quarter and will be calculated on the average daily outstanding principal balances of the Notes during the applicable quarter.
(b) The Company will pay all expenses related to the operation of the Company, other than the costs of the personnel of the Manager. These costs will be paid by the Company and include the fees and expenses related to any securities offering of the Company, office rent and fees, office common area maintenance charges, phone, fax, and internet access, computer hardware and related supplies, general office supplies, office rental of fax, printers, or scanners and maintenance costs related thereto, consulting, legal, accounting, and professional fees, marketing and travel expenses and any business licenses and registrations required of the Company or the Manager as a result of its management of the Company. The Manager may elect to pay any of these Company expenses, in which event the Company will reimburse the Manager for those out-of-pocket costs.
(c) The Manager may charge the Company or any of its subsidiaries an acquisition fee to cover the costs of due diligence and underwriting involved in closing a real estate purchase, as well as a disposition fee to cover the costs of closing a real estate sale. The acquisition fee will be non-refundable.
(d) If the Manager, or an Affiliate of the Manager or the Company, guarantees, whether personally or otherwise, a loan, bond or other obligation of the Company or any of its subsidiaries, such guarantor will be entitled to receive from the benefiting entity an annual fee equal to 1% of the total amount of the credit facility, bond amount, or other obligation subject to the guarantee.
Management Fee Expenses. (a) In return for the provision of the Services and for the other actions of the Manager hereunder, the Company shall pay the Manager an annual management fee equal to a percentage of the outstanding aggregate principal balances of the Notes (“Management Fee”). As of the date of this Agreement the Management Fee is (i) 1.30% of the outstanding aggregate principal balance of the Variable Denomination Floating Rate Demand Notes and (ii) 1.00% of the outstanding aggregate principal balance of the Secured Demand Notes offered in that certain Private Placement Memorandum of the Company dated October 1, 2018. The Management Fee will be paid in arrears on the last day of each calendar quarter and will be calculated on the average daily outstanding principal balances of the Notes and Private Placement Notes during the applicable quarter.
(b) Prior to January 1, 2020, certain expenses of the Company’s affiliated entities were allocated to the Company. These allocations were based on several factors including size of notes payable, number of individual investors, and term of operations with an allocation period. Effective January 1, 2020, management decided to increase the Management Fee from 1.00% to 1.30% of outstanding aggregate principal balances of the Variable Denomination Floating Rate Demand Notes in lieu of allocating expenses from affiliated entities to the Company. Therefore, when the Company issues the Notes on or after January 1, 2020, the management fee paid by the Company shall be (i) 1.30% of outstanding aggregate principal balances of the Variable Denomination Floating Rate Demand Notes and (ii) 1.00% of the outstanding aggregate principal balance of the Secured Demand Notes offered in that certain Private Placement Memorandum of the Company dated October 1, 2018. The Manager or an Affiliate of the Manager may elect to pay any of these Company expenses, in which event the Company will reimburse such entity for those out-of-pocket costs. Additionally, in the event any personnel of the Manager or any of its Affiliates perform any professional service for the Company, the Company shall pay the Manager or its Affiliate for such services at rates that are no higher than is standard in the market.
(c) The Manager may charge the Company or any of its subsidiaries an acquisition fee to cover the costs of due diligence and underwriting involved in closing a real estate purchase, as well as a disposition fee to cover the costs of closing a real estate sale. S...
Management Fee Expenses. Section 7.1 Management Fee
Management Fee Expenses. (a) In consideration for the provision by RIM of its services hereunder, the Fund will pay RIM a fee payable quarterly, equal to 0.025% (0.10% on an annualized basis) of the Fund's "net assets" (the "Management Fee"). "Net assets" shall equal the total value of all assets of the Fund, less an amount equal to all accrued debts, liabilities, and obligations of the Fund calculated before giving effect to any repurchases of interests. However, so long as substantially all of the Fund's assets are invested in a registered investment company also advised by RIM that has the same investment objective and substantially the same investment policies as the Fund, the Fund will not be subject to the Management Fee.
Management Fee Expenses. (a) Milford Wind will pay the Manager an annual management fee (the “Management Fee”) initially equal to $150,000 per calendar year, payable in equal monthly installments on the 1st day of each month and prorated for the number of months remaining in 2009. Commencing with 2010, the Management Fee shall be adjusted annually on January 1 of each year of the Term to reflect changes in the Consumer Price Index.
(b) No additional fees for the performance of the Services will be charged to any Holding Company in addition to the Management Fee. If the Manager, at the request of the managing member of Milford Wind, performs services not contemplated by this Agreement, the fee for such additional services shall be such amounts payable at such times as the Manager and the managing member of Milford Wind shall agree. It is understood that all out-of-pocket expenses incurred in the administration and operation of any Holding Company are solely for the account of such Holding Company, and may be disbursed by the Manager from such Holding Company’s funds. The Manager shall be reimbursed for all reasonable other expenses that the Manager incurs in connection with performance of its obligations under this Agreement (not including any cost of retaining Service Providers to perform Services).
Management Fee Expenses. (A) Commencing on the date of Financial Closing, the Company shall pay the Managing Member a management fee of $250,000.00 per year (the "Management Fee"), payable in equal monthly installments due on the first day of each month. The Management Fee shall be adjusted annually for inflation on October 1st of each year based on the Consumer Price Index, All Urban Consumers (CPI-U): U.S. City Average (All Items Category), with a standard reference base period of 1982-84 = 100, or as subsequently updated (the "CPI"). The Management Fee shall be calculated for each subsequent year by first determining the percentage increase in the CPI from the previous year. The percentage increase in the CPI from the previous year shall then be multiplied by the Management Fee in effect for the prior year and added to the Management Fee in effect during the prior year. Notwithstanding the above, the annual increase in the Management Fee cannot be greater than 10% of the prior year's Management Fee.
(B) Other than as provided in Section 5.1(b)(ii)(C), all costs incurred by the Managing Member relating to the management of the day-to-day operations of the Company, including, among other things, personnel costs and out-of-pocket expenses, shall be paid by the Company at the Managing Member's cost plus 5%. The Company shall reimburse the Managing Member within 15 days of receipt of an expense report from the Managing Member. All reimbursement requests shall have been reasonable in amount and incurred in furtherance of the Company's business.
(C) The Managing Member shall provide the following services to the Company without reimbursement for expenses directly incurred in connection therewith, other than travel expenses:
(1) The services of a CEO of the Company, whose salary and benefits shall be paid by the Managing Member without reimbursement;
(2) Access to any group pricing for materials or services that are available to the Managing Member relating to the operations of the Company.
Management Fee Expenses. (a) All expenses, costs, losses, liabilities or damages incurred with respect to the ownership or operation of the Cable Systems, including, without limitation, wages, salaries and other labor costs incurred in the construction, maintenance, expansion or operation of the Cable Systems, or personnel working on special projects or services for the Company, will be paid by the Company and, to the extent that the Manager pays or incurs any obligation for any such expenses, costs, losses, liabilities or damages, the Company, subject to the limitations set forth in Section 5, will pay or reimburse the Manager therefor, as well as for any reasonable out-of-pocket expenses incurred by the Manager in the performance of its obligations under this Agreement. Subject to the payment priority provisions of this Section 3, the Company agrees to pay the Manager, in addition to any reimbursement of expenses, and the Manager shall be entitled to receive, as the Manager's compensation for the services to be rendered hereunder, a yearly management fee (the "Management Fee") equal to three and one-half percent (3.5%) of the Gross Revenue (as determined in accordance with generally accepted accounting principles) of the Company, payable quarterly in arrears. "Gross Revenue" will include all revenues from the operation of the Cable Systems including, without limitation, subscriber payments, advertising revenues and revenues from other services provided by the Cable Systems, but not including interest income or income from investments unrelated to the Cable Systems. Accrual of such Management Fee shall commence upon February 23, 1999. The fee payable pursuant to this paragraph for any quarter shall be reduced by the amount of any management fees with respect to Gross Revenue of a subsidiary of the Company and separately paid to the Manager for such quarter pursuant to a separate management agreement between the Manager and a subsidiary of the Company. Notwithstanding the foregoing, the Management Fee due and payable as provided in this Section 3 shall be subordinated and junior in right of payment to the prior payment in full in cash of all of the Senior Debt (as defined below) and shall not be paid except to the extent allowed under the Credit Agreement (as defined below). In the event of any bankruptcy or similar proceeding relative to the Company (a "Reorganization"), then all of the Senior Debt shall first be paid in full in cash before any payment of the Management Fee is ma...
Management Fee Expenses. (a) As compensation for the Services, the Company will pay the Manager a management fee (the "Management Fee") initially equal to $25,000 per month. The Management Fee shall be escalated on an annual basis on each anniversary of the Effective Date, indexed to CPI-West All Urban.
(b) In connection with matters within the Approved Budget, and matters outside of the parameters of the Approved Budget but authorized pursuant to this Section 4.01, the Company will reimburse the Manager from the Company’s funds for the following expenses (other than any such expenses that constitute Excluded Expenses): (i) all reasonable out-of-pocket expenses of Manager’s personnel, (ii) all Emergency Expenditures and (iii) reasonable expenses of independent third parties (other than any such Persons performing Nonreimbursable Services) which, for the convenience of the Company, perform services by contract with the Manager rather than directly with the Company, provided, that the Members have consented to such arrangement. For purposes of this Section 4.01(b), (x) "Excluded Expenses" shall mean costs incurred by Manager in employing its personnel (other than amounts payable to its personnel as described in clause (i) above), including costs associated with wages, benefits, workers’ compensation insurance and home office expenses and costs incurred to retain Persons to perform Nonreimbursable Services) and (y) an "Emergency Expenditure" shall mean an expense with respect to the Company that is not included in the Approved Budget and which is incurred, in the reasonable judgment of the Manager, to avoid or to mitigate a risk of physical injury to any Person, or a financial loss or damage to the Company or the Projects, or a violation of law and with respect to which there is not a reasonable opportunity to convene a meeting of the Members in order to obtain prior approval of the expense. The Manager shall give prompt written notice to the Members of any Emergency Expenditure. Notwithstanding any of the foregoing, for the avoidance of doubt, to the extent an obligation of the Manager is expressly to be performed at the sole expense of the Company, the Manager shall be reimbursed for any amounts (other than Excluded Expenses) expended from its own funds to perform such obligation.
