Management Fees; Compensation. Borrower shall not, and shall not permit any of its Subsidiaries to, (i) pay any management or consulting fees to any employee, director or Affiliate (other than a Subsidiary), or (ii) pay annual aggregate compensation, whether as salary, bonus or otherwise, to all directors or officers of such Person which is on a basis inconsistent with past practices.
Management Fees; Compensation. Pay management fees, incentive fees or otherwise increase the compensation payable to KKR Financial Advisors LLC pursuant to the Management Agreement, in excess of those fees and compensation levels in effect as of the Closing Date, without the prior written consent of the Administrative Agent (not to be unreasonably withheld).
Management Fees; Compensation. No Borrower shall, nor shall US Borrower permit any other Company to, pay any management or consulting fees to any Persons, or pay annual aggregate salary to all directors or officers of such Borrower or other Company in excess of one hundred ten percent (110%) of the aggregate salary to all directors, and officers of such Borrower or other Company in effect on the date of this Agreement for the first year and one hundred ten percent (110%) of the prior year’s aggregate salary amount for each subsequent year. The aggregate annual salary amount(s) shall be adjusted each year for the net addition or loss of directors or officers. Notwithstanding the foregoing, this paragraph (k) shall not apply to bonuses to be paid in accordance with the Oilgear Variable Compensation Plan as in effect on the date hereof attached as Exhibit D hereto.
Management Fees; Compensation. Borrower shall not, and shall not permit any other Credit Party to, pay any management or consulting fees to any Persons (excluding the consulting agreement with Jxxx Xxxxxxxx entered into on or before the date hereof), or pay annual aggregate compensation, whether as salary, bonus or otherwise, to all directors or officers of Borrower in excess of one hundred ten percent (110%) of the aggregate compensation, whether as salary, bonus or otherwise, to all directors, and officers of the Credit Parties in effect on the date of this Agreement for the first year and one hundred ten percent (110%) of the prior year's aggregate compensation amount for each subsequent year. The aggregate annual compensation amount(s) shall be adjusted each year for the net addition or loss of directors or officers.
Management Fees; Compensation. No Borrower shall (i) pay any management or consulting fees to any Persons, other than the Xxxxxxx Administrative Fee, an existing consulting agreement with Xxxxxxx Xxxxxxxx, and consulting fees and other remuneration to third-party consultants in arms-length transactions having an aggregate value per year of not more than $200,00, or (ii) pay annual aggregate compensation, whether as salary, bonus or otherwise, to all directors or officers of such Borrower in excess of one hundred ten percent (110%) of the aggregate compensation, whether as salary, bonus or otherwise, to all directors, and officers of such Borrower in effect on the Closing Date for the first year and one hundred ten percent (110%) of the prior year's aggregate compensation amount for each subsequent year. The aggregate annual compensation amount(s) shall be adjusted each year for the net addition or loss of directors or officers.
Management Fees; Compensation. Borrower shall not pay any management or consulting fees to any Persons.
Management Fees; Compensation. The Debtor shall not pay any management or consulting fees to any Persons in excess of one hundred ten percent (110%) of the aggregate compensation, whether as salary, bonus or otherwise, to all directors, and officers of the Debtor in effect on the date of this Security Agreement for the first year, and one hundred ten percent (110%) of the prior year's aggregate compensation amount for each subsequent year. The aggregate annual compensation amount(s) shall be adjusted each year for the net addition or loss of directors or officers.
Management Fees; Compensation. No Company shall pay any management or consulting fees to any Persons, or pay annual aggregate compensation, whether as salary, bonus or otherwise, to Henry Schnurbach, Gary Cxxxxxxx xx Xxxx Caxxxx xx xxxxss ox xxx xxxxxts permitted under their Employment Agreements.
Management Fees; Compensation. No Borrower shall pay any management or consulting fees to any shareholders of CTI Industries, or any management employees of CTI Industries (except to the extent described on Schedule 11(i) and existing as of the Closing Date), or pay annual aggregate compensation, whether as salary, bonus or otherwise, to all directors or officers of such Borrower in excess of one hundred ten percent (110%) of the aggregate compensation, whether as salary, bonus or otherwise, to all directors, and officers of such Borrower in effect on the date of this Agreement for the first year and one hundred ten percent (110%) of the prior year's aggregate compensation amount for each subsequent year. The aggregate annual compensation amount(s) shall be adjusted each year for the net addition or loss of directors or officers.
Management Fees; Compensation. Borrower shall not, and shall not permit any Subsidiary to (a) pay any management or consulting fees to any Persons, except in the ordinary course of business or (b) pay any bonus to any of its directors, officers or employees except that, Borrower and any Subsidiary may pay bonuses to its directors, officers and employees in accordance with its Incentive Plan Program as summarized on Schedule 13(k) hereto, in any case, so long as (a) no Event of Default is continuing or would result therefrom and (b) immediately before paying any such bonuses, Excess Availability is not less than $1,000,000 and (c) immediately after paying any such bonuses, Excess Availability is not less than $500,000.
