Management Fees Expenses. (a) All expenses, costs, losses, liabilities or damages incurred with respect to the ownership or operation of the Business, including, without limitation, wages, salaries and other labor costs incurred in the construction, maintenance, expansion or operation of the Business, or personnel working on special projects or services for the Xxxx Entities, will be paid by the Company. 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 (provided, however, that (a) in no event shall any such payments include any fee, profit or similar component benefiting the Manager, it being understood and agreed that such payments instead are intended to reimburse only actual costs and expenses, and (b) in no event shall such payments include amounts characterized as "Affiliated Overhead Expenses" under the terms of the Bank Credit Agreement (as hereinafter defined)). Subject to the payment priority provisions of this Section 3, the Company agrees to pay the Manager, as the Manager's compensation for the services to be rendered hereunder, a yearly management fee (the "Management Fee") equal to one and one-half percent (1.5%) of the "Net Revenues" (as determined in accordance with generally accepted accounting principles as applicable to companies in the gaming business) of the Company, payable semi-annually in arrears. Accrual of such Management Fee shall commence upon "Opening Date" (as defined in the Bank Credit Agreement defined below). For so long as there is any outstanding indebtedness under the Second Mortgage Notes Indenture (as hereinafter defined), the semi-annual accrual periods shall be set to match the semi-annual interest accrual periods under the Second Mortgage Notes Indenture, and the payment date with respect to any such accrued Management Fees shall be the tenth (10th) Business Day after the date established under the Second Mortgage Notes Indenture for payment of accrued interest with respect to such semi-annual period.
(b) Notwithstanding anything to the contrary in this Agreement, the parties acknowledge and agree that the payment of the Management Fee is subject to a Management Fees Subordination Agreement of even date herewith (the "Subordinati...
Management Fees Expenses. Section 6(a) of the Money Manager Agreement is hereby deleted and replaced in its entirety with the following:
(a) Management Fees. Schedule I attached hereto sets out the fees to be paid by the Fund to the Manager by the tenth business day of the following month in connection with this Agreement. The applicable fee rate will be applied to the average daily net assets (gross of expenses except any interest accrued in respect of Additional Assets) of the Managed Assets (exclusive of the Additional Assets), computed as described in the Fund’s Registration Statement, pursuant to this Agreement.”
Management Fees Expenses. (a) REM shall be entitled to receive all Collateral Management Fees (as defined in the Management Agreement) paid or payable on the Payment Date in July 2010, and the Assignee shall be entitled to receive all Collateral Management Fees paid or payable on or after the Payment Date in January 2011, in each case in accordance with the terms of the Management Agreement.
(b) The parties acknowledge and agree that from and after the Closing, to the extent permitted by the terms of the Management Agreement, REM shall be entitled to be reimbursed by the Issuer for reasonable expenses up to an aggregate amount of €20,000 incurred by REM in connection with the provision of management services to the Issuer prior to the Closing; provided, that any such request for reimbursement of expenses shall be submitted by REM to the Trustee (copied to the Assignee) and accompanied by an invoice addressed to the Issuer no later than 30 days after the Closing Date. To the extent the Assignee or any of its Affiliates receives any amounts after the Closing Date which are due to REM as reimbursement of expenses in connection with the foregoing, the Assignee shall promptly pay-over and deliver such amounts to REM or its designee.
Management Fees Expenses. Section 6(a) of the Money Manager Agreement is hereby deleted and replaced in its entirety with the following:
Management Fees Expenses. 5.1 Upon fulfillment of the condition precedent set forth in Section 6.1, Bank 24 shall pay HFT a management fee of DEM 108,821.25 as of the date of execution of this Rental Agreement by all parties and an additional DEM 108,821.25 as of the time OTP Bank, a Hungarian Bank ("OTP") shall have entered into a binding agreement with Bank 24 relating to the use by OTP customers of the Bank 24 ATM network in accordance with the terms of a certain letter of intent entered into by Bank 24 and OTP on December 16, 1994.
Management Fees Expenses. Holdings and/or the Captive (or the admitted carrier on Holdings’ and/or the Captive’s behalf) will pay to the Manager a fee of 5% of the total gross premium charged on stop loss policies that are reinsured by the Captive. In the event that there are no in-force medical stop loss policies for the Captive to reinsure, the Manager and Member Board will negotiate a fee with the Manager to provide for the administration of the Captive until all of the Captive’s insurance obligations have been commuted or otherwise terminated and for the windup of the Captive and Holdings. Payment for services furnished to Holdings and the Captive by their respective professional advisers (i.e. auditor, actuarial, legal, and captive management fees) will be paid by Holdings and/or the Captive, as applicable. Such fees have been estimated at 1.75% of gross premium for the 2018 program year. This estimate has been included in the determination of the net reinsurance premiums to be charged by the Captive to the admitted carriers; however, the estimated fee is subject to change by the Manager.
Management Fees Expenses. 4.1. In consideration for services rendered by Parent and Parent Personnel under this Agreement, the Parent shall be entitled to receive a monthly fee in U.S. Dollars of $400,000 for the remainder of June, 2002, and commencing July, 2002, and continuing each calendar month thereafter that this Agreement is in effect, an amount equal to six percent (6%) of the Company's consolidated monthly revenues. If this Agreement terminates other than on the last day of a calendar month, the management fee for such month shall be pro-rated based upon the number of days in such month that this Agreement was in effect. While this Agreement is in effect, $40,000 of the monthly fee which is earned during any month will be paid by the fifteenth day of the succeeding month. Any remaining fees due and payable hereunder to Parent (including amounts payable under Section 4.4) shall be paid by the later of (i) the end of the calendar month succeeding the month in which this Agreement terminated or (ii) the date upon which the Company's and its subsidiaries' obligations to Wachovia Bank, National Association, are paid in full. (For such purposes, a termination under Section 5.6 shall be deemed a termination under Section 5.2.) In addition, the Company shall promptly reimburse Parent for reasonable travel accommodation and transportation expenses and other out-of-pocket costs as may be incurred by Parent and/or Parent Personnel, in connection with services rendered under this Agreement.
4.2. Other than any expenses that are to be reimbursed by the Company and the fees payable under Sections 4.1 above, Parent shall be responsible for compensating the Parent Personnel in all respects.
4.3. All fees and expenses payable by Company to Parent under this Agreement shall be paid by wire transfer of immediately available funds. If the Company fails to timely pay fees or expenses due under this Agreement, Parent shall be entitled to charge interest to the Company at a rate of 1.5% per month for any period in which such payment has not been made on a timely basis.
4.4. If this Agreement terminates under Section 5.6, Parent shall be entitled to receive the lesser of all fees that it otherwise would have received under this Agreement had this Agreement terminated under Sections 5.2 or 5.3, it being understood, however, Parent shall not be obligated to provide any management services following termination under Section 5.6. Such fees shall be deemed to be liquidated damages and not in the natu...
Management Fees Expenses. (a) Management Fees. Schedule I attached hereto sets out the fees to be paid by the Fund to the Manager by the tenth business day of the month following the month to which the fee relates. The Manager represents that the fee schedules offered to the Fund, whether for a separately managed account or an interest in a pooled investment fund offered by the Manager, are not higher than any fee schedule in effect for clients that have a substantially similar investment mandate and have an inception date on or after the date of this Agreement (a “Similar Account”). The Manager agrees that if it subsequently agrees to a fee schedule for a Similar Account that is lower than the fee schedules offered to the Fund, whether for a separately managed account or an interest in a pooled investment fund offered by the Manager, the Manager will promptly offer the lower fee schedule to the Fund.
Management Fees Expenses. In consideration for the provision of the Services, the Manager shall be entitled to an annual management fee equal to $240,000 (the “Management Fees”). The Management Fees will be paid on a monthly basis with each installment being $20,000.00. Payment of the Management Fees shall be made to the Manager or another party specified by the Manager in accordance with payment instructions provided to the Company from time to time by such party. In addition, the Company shall reimburse the Manager and its Affiliates for all of its reasonable out-of-pocket expenses incurred in connection with the provision of the Services. Any such reimbursement of expenses shall be made promptly after submission of a xxxx therefor by the Manager or such Affiliate. The initial payment of the Management Fees will be due on the first business day of the first full calendar month following the date of this Agreement, with each subsequent payment to be made on the first business day of each calendar month thereafter. Notwithstanding anything to the contrary contained herein, in the event that any Management Fees or expenses are unable to be paid or reimbursed in accordance with the terms, conditions and provisions of the Subordination Agreement (as hereinafter defined), such fees and expenses shall accrue unless and until such time that payment is permitted thereunder.
Management Fees Expenses. (i) The Borrowers may, in addition to the dividends and loans permitted to be paid or made under SUBSECTIONS 13(E), (F) and (M) hereof, pay dividends and/or make loans to the Parent the proceeds of which shall be used to fund the payment by Parent of management fees; PROVIDED, HOWEVER, that (A) no Default or Event of Default shall have occurred and be continuing on the date of, and immediately after giving effect to, such payment; and (B) Adjusted Availability on the date of the proposed payment, and immediately after giving effect thereto, on a combined basis for all Borrowers, shall not be less than Three Million and No/100 Dollars ($3,000,000); and (C) such payments shall not aggregate in any one Fiscal Year more than the lesser of (x) ten percent (10%) of net income, as defined under generally accepted accounting principles, consistently applied, of the Parent and its Subsidiaries, on a consolidated basis, for the immediately prior Fiscal Year and (y) One Million and No/100 Dollars ($1,000,000).
(ii) The Borrowers may, in addition to the dividends and loans permitted to be paid or made under SUBSECTIONS 13(E), (F) and (M) hereof, pay dividends and/or make loans to Parent in an aggregate amount not to exceed One Million and No/100 Dollars ($1,000,000) each calendar month for the payment by Parent of its operating expenses.
