MANAGEMENT FEE – REIMBURSEMENT OF COSTS Sample Clauses

MANAGEMENT FEE – REIMBURSEMENT OF COSTS. 6.1 The Company shall pay the manager a fee (the “Management Fee”) as consideration for the Manager’s provision of the Services. 6.2 The Management Fee shall, in relation to each calendar year, be detailed in a fee letter to be submitted by the Manager to the Company no later than 1 December in the preceding year. The Management Fee shall cover those of the Services that are provided to the Subsidiaries as well as those provided to the Company. 6.3 The Company shall make on account payments of the Management Fee throughout the year in accordance with the terms of the annual fee letter. 6.4 The Management Fee shall be based on the market price for administrative services similar to the Services covered by it. 6.5 Both the Manager and the Company may, if it can be documented that the scope of the Services changes materially during a year, demand that the Management Fee or a specified element therein for such year is revised with effect for the remainder of the relevant year. The Manager shall have the same right if the Manager’s cost base increases materially during a year. 6.6 The Company shall reimburse the Manager for all out-of-pocket expenses incurred by the Manager in relation to third parties in connection with the provision of the Services.
Sample 1Sample 2
AutoNDA by SimpleDocs
MANAGEMENT FEE – REIMBURSEMENT OF COSTS. 5.1 The Company shall pay the Manager a fee (the “Management Fee”) as consideration for the Manager’s provision of the Services. The Management Fee shall equal the aggregate of the Operating Costs, the Margin and the Reimbursable Pass-Through Costs (all terms as defined below). 5.2 For the purpose of this Agreement, the term “Operating Costs” means all operating costs incurred by the Manager in rendering the Services, including:
Sample 1
MANAGEMENT FEE – REIMBURSEMENT OF COSTS. 6.1 The Customer shall pay the Service Provider a fee (the “Management Fee”) as consideration for the Service Provider’s provision of the Services.
Sample 1
MANAGEMENT FEE – REIMBURSEMENT OF COSTS. 7.1 The Customers shall pay the Manager a fee (the “Management Fee”) as consideration for the Manager’s provision of the Services. 7.2 Cost base for the Management Fee For the purpose of this Agreement, the term “Operating Costs” shall be defined as all operating costs incurred by the Manager in rendering the Services, including: a. salary, pension and other costs attributable to the Manager’s employees (all of whom are engaged in performing the Services); b. the Manager’s expenses for materials and supplies consumed in rendering the Services; c. the Manager’s office expenses; d. depreciations of the Manager’s fixed assets; and e. all other direct and indirect operating costs incurred by the Manager attributable to the rendering of the Services, including other administrative costs related to the operation of the Manager’s organisation. The Operating Costs shall exclude non-operational costs, such as: a. financial expenses, including interest costs; and b. taxes on net profits. The Operating Costs shall exclude fees and other costs paid to third party sub-contractors engaged by the Manager in the rendering of the Services (“Pass-Through-Costs”).
Sample 1
MANAGEMENT FEE – REIMBURSEMENT OF COSTS. 6.1 The Company shall pay the Manager a fee (the "Management Fee") as consideration for the provision of the Services. The Management Fee shall also represent consideration for the services to be provided by the Manager to each of the Subsidiaries hereunder. 6.2 The management fee for 2010 shall be USD 2,315,000 with effect from January 1, 2010. 6.3 The Parties agree that the Management Fee shall be subject to annual adjustments. The Parties shall negotiate the amount of any adjustment during the 4th quarter of each year. 6.4 The Management Fee shall be due and payable by the Company quarterly in arrears in an amount equal to one quarter thereof. 6.5 If directed by the Board to sell a Vessel (or a Subsidiary), the Manager shall solicit bids for the sale of such Vessel (or such Subsidiary) to the highest bidder. The Manager shall receive a 1% sales commission on the net proceeds of any sale of a Vessel (whether directly or through the sale of a Subsidiary). The Manager shall receive a 1% commission on the cost of purchase of any new vessel by the Company whether in its own name or in the name of a subsidiary and whether on a second hand or newbuilding basis. The Manager shall receive a commission equal to 1.25% of the gross freight earned on the chartering of each Vessel for which the Manager performs commercial management. The Manager may utilize the services of brokers and lawyers subject to the Board's approval (and enter into such compensation arrangements with them as the Manager shall deem appropriate) in relation to the purchase, chartering and sale of the Vessels for which the Manager acts as commercial manager. 6.6 The Company shall reimburse the Manager for all out-of-pocket expenses incurred by the Manager in relation to third parties in connection with the provisions of the Services. 6.7 The Manager shall, at its own cost and expense, provide all office accommodation, equipment, office stationary, staff, staff salaries and ancillary office expenses required for the performance of the Services. All out of pocket costs (which shall include travel costs) incurred by the Manager shall be reimbursed by the Company. All costs for the services rendered by any subcontractors to the Manager shall be carried by the Manager. For the avoidance of doubt, any remuneration to the Technical Managers for their services shall be paid directly by the relevant Subsidiary to the relevant Technical Manager. Upon reasonable notice, the relevant Subsidiary shall provid...
Sample 1
MANAGEMENT FEE – REIMBURSEMENT OF COSTS. 5.1 The Manager shall pay an annual fee (the “Management Fee”) to the Submanager as compensation for the Submanager’s provision of the Services.
Sample 1

Related to MANAGEMENT FEE – REIMBURSEMENT OF COSTS

  • Reimbursement of Costs City may reimburse Consultant’s out-of-pocket costs incurred by Consultant in the performance of the Required Services if negotiated in advance and included in Exhibit A. Unless specifically provided in Exhibit A, Consultant shall be responsible for any and all out-of-pocket costs incurred by Consultant in the performance of the Required Services.

  • Reimbursement of Costs Incurred The Contractor agrees to reimburse the Authorized User promptly for any and all additional costs and expenses incurred for acquiring acceptable services, and/or replacement Product. Should the cost of cover be less than the Contract price, the Contractor shall have no claim to the difference. The Contractor covenants and agrees that in the event suit is successfully prosecuted for any default on the part of the Contractor, all costs and expenses, including reasonable attorney’s fees awarded by a court of competent jurisdiction, shall be paid by the Contractor.

  • Reimbursement of Costs and Expenses Seller shall have paid, or reimbursed Purchaser for, all reasonable and documented out-of-pocket expenses, including but not limited to reasonable legal fees of outside counsel and reasonable and due diligence fees, actually incurred by Purchaser in connection with the development, preparation and execution of this Agreement, the other Transaction Documents and any other documents prepared in connection herewith or therewith.

  • Fees, Expenses and Reimbursement (a) The Board may cause the Fund to compensate each Manager who is not an "interested person" of the Fund (as defined in the 1940 Act), and such Manager shall be reimbursed by the Fund for reasonable travel and out-of-pocket expenses incurred by him in performing his duties under this Agreement. (b) The Fund shall bear all costs and expenses incurred in its business and operations. Costs and expenses to be borne by the Fund include, but are not limited to, the following: (1) all costs and expenses directly related to investment transactions and positions for the Fund's account, including, but not limited to, brokerage commissions, research fees, interest and commitment fees on loans and debit balances, borrowing charges on securities sold short, dividends on securities sold but not yet purchased, custodial fees, margin fees, transfer taxes and premiums, taxes withheld on foreign dividends, and indirect expenses from investments in Investment Funds; (2) all costs and expenses associated with the operation and registration of the Fund, offering costs and the costs of compliance with applicable Federal and state laws; (3) all costs and expenses associated with the organization and operation of separate Investment Funds managed by Investment Managers retained by the Fund; (4) the costs and expenses of holding meetings of the Board and any meetings of Members, including costs associated with the preparation and dissemination of proxy materials; (6) the fees and disbursements of the Fund's counsel, legal counsel to the Independent Managers, auditing and accounting expenses and fees and disbursements for independent accountants for the Fund, and other consultants and professionals engaged on behalf of the Fund; (7) the fees payable to custodians and other persons providing administrative services to the Fund; (8) the costs of a fidelity bond and any liability insurance obtained on behalf of the Fund or the Board or Indemnitees; (9) all costs and expenses of preparing, setting in type, printing, and distributing reports and other communications to Members; and (10) such other types of expenses as may be approved from time to time by the Board. (c) Subject to procuring any required regulatory approvals, from time to time the Fund may, alone or in conjunction with other registered or unregistered investment funds or other accounts for which CSFB Alternative Capital, or any Affiliate of CSFB Alternative Capital, acts as general partner or investment adviser, purchase insurance in such amounts, from such insurers and on such terms as the Board shall determine.

  • Payment of Costs and Fees The Borrower shall pay to the Administrative Agent all reasonable costs, out-of-pocket expenses, and fees and charges of every kind in connection with the preparation, negotiation, execution and delivery of this Amendment and any documents and instruments relating hereto (which costs include, without limitation, the reasonable fees and expenses of any attorneys retained by the Administrative Agent) to the extent provided in Section 10.5 of the Credit Agreement.

  • Mileage Reimbursement Subject to the current Vehicle Rules and Regulations established by the Board, an employee who is authorized to use a private automobile in the performance of duties shall be paid the Internal Revenue Service Standard Mileage Rate for the Business Use of a Car for each mile driven during each monthly period.

  • Expenses Reimbursement State Street shall be entitled to receive from the Fund on demand reimbursement for its cash disbursements, expenses and charges, excluding salaries and usual overhead expenses, as set forth in Schedule A.

  • Expense Reimbursements To the extent that any reimbursements payable pursuant to this Agreement are subject to the provisions of Section 409A of the Code, any such reimbursements payable to Executive pursuant to this Agreement shall be paid to Executive no later than December 31 of the year following the year in which the expense was incurred, the amount of expenses reimbursed in one year shall not affect the amount eligible for reimbursement in any subsequent year, and Executive’s right to reimbursement under this Agreement will not be subject to liquidation or exchange for another benefit.

  • Disbursements, Reimbursement (a) Immediately upon the issuance of each Letter of Credit, each Lender holding a Revolving Commitment shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from Issuer a participation in each Letter of Credit and each drawing thereunder in an amount equal to such Xxxxxx’s Revolving Commitment Percentage of the Maximum Undrawn Amount of such Letter of Credit (as in effect from time to time) and the amount of such drawing, respectively. (b) In the event of any request for a drawing under a Letter of Credit by the beneficiary or transferee thereof, Issuer will promptly notify Agent and Borrowing Agent. Regardless of whether Borrowing Agent shall have received such notice, Borrowers shall reimburse (such obligation to reimburse Issuer shall sometimes be referred to as a “Reimbursement Obligation”) Issuer prior to 12:00 Noon, on each date that an amount is paid by Issuer under any Letter of Credit (each such date, a “Drawing Date”) in an amount equal to the amount so paid by Issuer. In the event Borrowers fail to reimburse Issuer for the full amount of any drawing under any Letter of Credit by 12:00 Noon, on the Drawing Date, Issuer will promptly notify Agent and each Lender holding a Revolving Commitment thereof, and Borrowers shall be automatically deemed to have requested that a Revolving Advance maintained as a Domestic Rate Loan be made by Lenders to be disbursed on the Drawing Date under such Letter of Credit, and Lenders holding the Revolving Commitments shall be unconditionally obligated to fund such Revolving Advance (all whether or not the conditions specified in Section 8.2 are then satisfied or the commitments of Lenders to make Revolving Advances hereunder have been terminated for any reason) as provided for in Section 2.14(c) immediately below. Any notice given by Issuer pursuant to this Section 2.14(b) may be oral if promptly confirmed in writing; provided that the lack of such a confirmation shall not affect the conclusiveness or binding effect of such notice. (c) Each Lender holding a Revolving Commitment shall upon any notice pursuant to Section 2.14(b) make available to Issuer through Agent at the Payment Office an amount in immediately available funds equal to its Revolving Commitment Percentage (subject to any contrary provisions of Section 2.22) of the amount of the drawing, whereupon the participating Lenders shall (subject to Section 2.14(d)) each be deemed to have made a Revolving Advance maintained as a Domestic Rate Loan to Borrowers in that amount. If any Lender holding a Revolving Commitment so notified fails to make available to Agent, for the benefit of Issuer, the amount of such Lender’s Revolving Commitment Percentage of such amount by 2:00 p.m. on the Drawing Date, then interest shall accrue on such Lender’s obligation to make such payment, from the Drawing Date to the date on which such Lender makes such payment (i) at a rate per annum equal to the Effective Federal Funds Rate during the first three (3) days following the Drawing Date and (ii) at a rate per annum equal to the rate applicable to Revolving Advances maintained as a Domestic Rate Loan on and after the fourth day following the Drawing Date. Agent and Issuer will promptly give notice of the occurrence of the Drawing Date, but failure of Agent or Issuer to give any such notice on the Drawing Date or in sufficient time to enable any Lender holding a Revolving Commitment to effect such payment on such date shall not relieve such Lender from its obligations under this Section 2.14(c), provided that such Lender shall not be obligated to pay interest as provided in Section 2.14(c)(i) and (ii) until and commencing from the date of receipt of notice from Agent or Issuer of a drawing. (d) With respect to any unreimbursed drawing that is not converted into a Revolving Advance maintained as a Domestic Rate Loan to Borrowers in whole or in part as contemplated by Section 2.14(b), because of Borrowers’ failure to satisfy the conditions set forth in Section 8.2 (other than any notice requirements) or for any other reason, Borrowers shall be deemed to have incurred from Agent a borrowing (each a “Letter of Credit Borrowing”) in the amount of such drawing. Such Letter of Credit Borrowing shall be due and payable on demand (together with interest) and shall bear interest at the rate per annum applicable to a Revolving Advance maintained as a Domestic Rate Loan. Each applicable Lender’s payment to Agent pursuant to Section 2.14(c) shall be deemed to be a payment in respect of its participation in such Letter of Credit Borrowing and shall constitute a “Participation Advance” from such Lender in satisfaction of its Participation Commitment in respect of the applicable Letter of Credit under this Section 2.14. (e) Each applicable Lender’s Participation Commitment in respect of the Letters of Credit shall continue until the last to occur of any of the following events: (x) Issuer ceases to be obligated to issue or cause to be issued Letters of Credit hereunder; (y) no Letter of Credit issued or created hereunder remains outstanding and uncancelled; and (z) all Persons (other than Borrowers) have been fully reimbursed for all payments made under or relating to Letters of Credit.

  • Expense Reimbursement The Executive shall be entitled to receive reimbursement for all appropriate business expenses incurred by him in connection with his duties under this Agreement in accordance with the policies of the Company as in effect from time to time.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!