Management Fees and Expenses. SECTION 9.1. In consideration of the Manager providing the Services to the Subsidiaries, the Parent shall pay the Manager the following fees (together, the “Management Fees” and, on a per Vessel basis, the “Management Fee”):
(a) subject to Sections 9.2 and 9.3, a fee of US$956 per day per Vessel during the term of this Agreement payable monthly in arrears (pro rated to reflect the actual number of days that the relevant Subsidiary owns or charters-in each Vessel during the applicable month), unless a Vessel is chartered-out to a third party on a bareboat charter basis, in which case the fee payable to the Manager for such Vessel during the term of this Agreement shall be, subject to Sections 9.2 and 9.3, US$478 per day, PROVIDED HOWEVER, that when in respect of certain services to a Vessel the Manager appoints a Submanager in accordance with Section 2.3 and such Submanager enters into a management agreement directly with the relevant Subsidiary (the “direct agreement”), the fees payable by the Parent and/or such Subsidiary under this Agreement and/or any relevant Shipmanagement Agreement in respect of such Vessel pursuant to Section 9.1(a) shall be US$956 per day, or as the case may be, US$478 per day minus, in each case, the fees per day payable by such Subsidiary to such Submanager under the relevant direct agreement in respect of such Vessel;
(b) a fee equal to 0.15% calculated on the aggregate of the gross freight, demurrage, charter hire, ballast bonus or other income obtained for the employment of each Vessel during the term of this Agreement, payable to the Manager monthly in arrears, only to the extent such freight, demurrage, charter hire, ballast bonus or other income, as the case may be, is received as revenue; and
(c) subject to Sections 9.2 and 9.3, a fee of US$787,405 per Newbuild under construction for the services rendered by the Manager under the Supervision Agreement in respect of such Newbuild, payable in accordance with the terms of such Supervision Agreement.
SECTION 9.2. The Management Fees will be fixed and shall not be subject to adjustment for Euro/U.S. Dollar exchange rate fluctuations or inflation for the term of this Agreement, save that for the 12-month period starting on January 1, 2016 and for each subsequent 12-month period falling thereafter (each such 12-month period referred to hereinafter as an “Annual Period”), the Management Fee for each Vessel payable pursuant to Section 9.1(a) or Section 9.1(c) will be adjusted pursu...
Management Fees and Expenses. As compensation for the services rendered by Manager under this agreement, Owner shall pay Manager as follows:
I. Manager shall be paid % of the gross rent per month for managing the Property.
II. For leasing vacant residential units: a leasing fee of one (1) month’s rent with a minimum of one thousand dollars ($1000) will be charged. Manager agrees to cooperate with all Realtors. Leasing fees are waived if the owner has an on-site staff on payroll that performs leasing functions.
III. To renew a current lease or execute new Bay Management Group Philadelphia Lease for
Management Fees and Expenses. As compensation for the services rendered by Manager under this agreement, Owner shall pay Manager as follows:
Management Fees and Expenses. As compensation for the services rendered by Manager under this agreement, Owner shall pay Manager as follows:
I. Manager shall be paid the greater of $100.00 per month per unit or 8% of the gross rent per month for managing the property.
II. For leasing vacant residential units: a leasing fee of one (1) month’s rent with a minimum of $1,000.00 will be charged. Manager agrees to cooperate with all Realtors. Leasing fees are waived if the owner has an on-site staff on payroll that performs leasing functions.
III. To advertise for rent said Property or any part thereof, to display signs, to rent same, to sign leases for a period not to exceed 24 months and to renew or cancel leases, to institute and prosecute action to evict tenants and to recover possession of property(s). Manager is under no obligation to pursue evicted or past tenants for judgment, or collections, of expenses or damages that exceed tenant’s security deposit.
IV. Manager shall be paid $299.00 for each individual lease renewal, due to Manager at execution of lease renewal.
Management Fees and Expenses. (a) In consideration for the performance of the Management Services, the Recipient hereby agrees upon an invoice issued to the Recipient to pay (or to procure that one or more of the Beneficiary Affiliates shall pay) fees calculated as follows:
(i) management services fees for Management Services provided by the Advisor to the Recipient and/or Beneficiary Affiliates calculated on an arm’s length basis (the “Management Services Fees”), and
(ii) all reasonable out-of-pocket expenses incurred by such Advisor and/or its Affiliates in rendering the Management Services, including irrecoverable VAT thereon (“Management Expenses”), together, (the “Management Fees”).
(b) The Management Fees shall be payable in arrears in accordance with this Section 4(b). On or before 31 January and 31 July of each year, the Recipient shall pay to the Advisor (or at such Advisor’s request, to its designee(s)):
(i) the total Management Services Fees with respect to the previous 6 calendar months; plus
(ii) the Management Expenses incurred by such Advisor during the previous 6 calendar months, and the aggregate of (i) to (ii) (inclusive) shall be referred to herein as the “Semi-Annual Fee”. The Recipients shall agree between themselves how the Semi-Annual Fee shall be allocated between them by reference to their use of and benefit from the Management Services and the Semi-Annual Fee shall be paid by wire transfer in cash or other immediately available funds to the account(s) designated in writing by each Advisor by one or more of the Recipients as they mutually agree. If a Recipient is prohibited from paying any portion of a Semi-Annual Fee by virtue of any legal or contractual restrictions, the non-payment of such portion shall not constitute a default and such portion shall be paid to the Advisor immediately upon such dates as such payment is no longer prohibited; and in the interim, such unpaid portion of each applicable Semi-Annual Fee shall accrue interest at a rate of 4 percent (4%) above EURIBOR per annum, provided that the Recipient further agrees to use commercially reasonable efforts to satisfy all conditions necessary to (i) prevent any such payment restrictions from arising and (ii) eliminate as promptly as practicable any such payment restrictions that do arise, provided that the Recipient shall not be required as a consequence of such obligation to take any action, or omit to take any action, that would jeopardize the Recipient’s ability to continue as a going concern.
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Management Fees and Expenses. (a) The Parties acknowledge and agree as good and valuable compensation for the Provider providing the Management Services, the Company shall pay to the Provider a “Management Fee” equal to one hundred percent (100%) of the Company’s total revenues, minus the Company’s total expenses (including, for this purpose, all taxes assessed against the Company in connection with the Company’s operations and reasonable reserves for taxes and other liabilities as reasonably determined by the Provider and the Company, but excluding the Management Fee), for the applicable time period. The Management Fee shall be paid in arrears, within thirty (30) days of the end of each calendar month, and shall be accompanied by invoices, payment records or other documentation reasonably acceptable to Provider regarding any direct expenses deducted from the Management Fee.
(b) The Company shall reimburse the Provider for reasonable and necessary out-of-pocket expenses incurred by the Provider or its affiliates in connection with providing the Management Services, provided the Provider provides the Company with reasonable documentation of such expenses in accordance with the Company’s expense reimbursement policy. The Company shall promptly pay such expenses no later than thirty (30) days following the date which the Provider submits to the Company an invoice for such expenses.
Management Fees and Expenses. As compensation for the services rendered by Manager under this agreement, Owner shall pay Manager as follows:
I. Manager shall be paid the greater of $100.00 per month per unit or 8% of the gross rent per month for managing the Property.
II. For leasing vacant residential units: a leasing fee of one (1) month’s rent with a minimum of
III. To advertise for rent said Property or any part thereof, to display signs, to rent same, to sign leases for a period not to exceed 24 months and to renew or cancel leases, to institute and prosecute action to evict tenants and to recover possession of property(s). Manager is under no obligation to pursue evicted or past tenants for judgment, or collections, of expenses or damages that exceed tenant’s security deposit.
Management Fees and Expenses. As compensation for the services rendered by Manager under this agreement, Owner shall pay Manager as follows:
i. Manager shall be paid the greater of $100.00 per month per unit or 8% of the gross rent per month for managing the Property.
ii. For leasing vacant residential units: a leasing fee of one (1) month’s rent will be charged. If owner brings a qualified tenant to the manager and a leased is signed with the tenant, manager agrees to charge a leasing fee equal to one half (50%) of one month’s rent. Manager agrees to cooperate with all Realtors. Leasing fees are waived if the owner has an on-site staff on payroll that performs leasing functions. No commissions are charged on renewals of residential leases.
iii. To advertise for rent said Property or any part thereof, to display signs, to rent same, to sign leases for a period not to exceed 24 months and to renew or cancel leases, to institute and prosecute action to evict tenants and to recover possession of property(s). Agent is under no obligation to pursue evicted or past tenants for judgment, or collections, of expenses or damages that exceed tenant’s security deposit.
Management Fees and Expenses. Following the Effective Date, the Owner shall pay to the Administrator the following fees for the Administrative Services and pay or reimburse the following expenses:
Management Fees and Expenses. (a) In consideration for its services, and subject to the terms of this Section 2, Manager shall be entitled to receive (i) a one-time payment of one hundred twenty thousand (120,000) shares of common stock of the Company, par value $0.0001 per share (the “Common Stock”) to be issued under the SCG Financial Acquisition Corp. 2013 Equity Incentive Plan and (ii) an annual management fee (the “Management Fee”) for each year during the term of this Agreement beginning on the Effective Date and ending upon the termination of this Agreement (as provided in Section 8 hereof). The Management Fee shall be equal to $50,000 per each one (1) year period following the Effective Date.
(b) The Management Fee shall be payable in four equal installments per year. All installments, with the exception of the last installment, shall be payable quarterly in advance on each January 1, April 1, July 1 and November 1 (or the next succeeding business day, if such day is not a business day) beginning July 1, 2013. All Management Fees shall be fully earned for each contract year on the anniversary of the Effective Date occurring at the beginning of such year.
(c) Notwithstanding anything to the contrary contained herein, the Company shall accrue but not pay the Management Fee if and for so long as (i) any such payment would constitute a default (or any event which might, with the lapse of time or the giving of notice or both, constitute a default) under the Company’s or any of its subsidiary’s financing agreements (a “Default”); provided, that the Company shall be obligated to pay any accrued Management Fees deferred under this Section 2(c)(i) to the extent that such payment would not constitute a Default or (ii) the Company’s board of directors, or equivalent, determines in good faith that it is in the Company’s best interest to withhold payment of the Management Fee in order to use available cash for other exigent corporate needs during any fiscal year. Interest will accrue on all due and unpaid Management Fees not paid at 5% per annum, compounded annually (each 12-months following the due date) each year, until such Management Fees are paid. Manager shall have the right (in its discretion) to payment of any portion of the Management Fee that is deferred in accordance with this Section (c), including interest thereon, through the issuance of Common Stock.
