Operations Fee Reduction Sample Clauses

Operations Fee Reduction. If the Monthly Average Receipt Point Pressure exceeds the applicable Sub-System Turnover Average Receipt Point Pressure for any Sub-System (other than the High-Pressure Sweet Sub-System and the High Pressure Sour Sub-System) during any Month after the one (1) year anniversary of the end of the Expansion Period, then for each Receipt Point on such Sub-System that exceeds the Sub-System Turnover Average Receipt Point Pressure for the Sub-System to which such Receipt Point is connected, the Operations Fees for such Month applicable to such Receipt Point shall be reduced by an amount equal to the product of (i) such Operations Fee and (ii) two percent (2%) for each one percent (1%) that such Monthly Average Receipt Point Pressure exceeds the applicable the Sub-System Turnover Average Receipt Point Pressure. For example, if during the applicable Month, the applicable Operations Fee is $0.10 per Mcf and the applicable the Sub-System Turnover Average Receipt Point Pressure is one hundred (100) psig, but during such Month, the Monthly Average Receipt Point Pressure was one hundred ten (110) psig, then the Operations Fee would be reduced to $0.08 per Mcf. Nothing herein shall relieve Gatherer of any liability for failure to provide Services pursuant to, and in accordance with, the terms of this Agreement. Notwithstanding anything contained in this Section 10.4(b), there will be no reduction in the Operations Fee for any Receipt Point that is first established or re-connected to the Gathering System after the one (1) year anniversary of the end of the Expansion Period, which has, during the first thirty (30) days of production, a weighted average pressure above the Sub-System Turnover Average Receipt Point Pressure for the Sub-System to which such Receipt Point is connected.
Sample 1
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Related to Operations Fee Reduction

  • Exclusions from Operating Expenses Operating Expenses exclude the following expenditures:

  • Operating Expense Payments Landlord shall deliver to Tenant a written estimate of Operating Expenses for each calendar year during the Term (the “Annual Estimate”), which may be revised by Landlord from time to time during such calendar year. During each month of the Term, on the same date that Base Rent is due, Tenant shall pay Landlord an amount equal to 1/12th of Tenant’s Share of the Annual Estimate. Payments for any fractional calendar month shall be prorated.

  • Variances From Operating Budget Furnish Agent, concurrently with the delivery of the financial statements referred to in Section 9.7 and each monthly report, a written report summarizing all material variances from budgets submitted by Borrowers pursuant to Section 9.12 and a discussion and analysis by management with respect to such variances.

  • Voluntary Fee Waiver/Expense Reimbursement Nothing herein shall preclude an Adviser from contractually waiving other fees and/or reimbursing expenses of any Fund, voluntarily waiving Advisory Fees it is entitled to from any Fund or voluntarily reimbursing expenses of any Fund as the Adviser, in its discretion, deems reasonable or appropriate. Any such voluntary waiver or voluntary expense reimbursement may be modified or terminated by the Adviser at any time in its sole and absolute discretion without the approval of the Fund’s Board of Trustees or Board of Directors, as the case may be.

  • Duration of Operating Expense Limit The Operating Expense Limit with respect to the Fund shall remain in effect during the term of this Agreement.

  • Minimum Debt Service Coverage The Borrower will not at any time permit the outstanding principal amount of the Unsecured Indebtedness to exceed an amount such that: (a) the Unencumbered Net Operating Income, divided by (b) Pro Forma Unsecured Debt Service Charges would be less than 1.5 for any Fiscal Quarter.

  • Daily Management Fee Calculation For each calendar day, each class of each Fund shall accrue a fee calculated by multiplying the Per Annum Management Fee Rate for that class times the net assets of the class on that day, and further dividing that product by 365 (366 in leap years).

  • Property Cash Flow Allocation (a) During any Cash Management Period, all Rents deposited into the Deposit Account during the immediately preceding Interest Period shall be applied on each Payment Date as follows in the following order of priority:

  • Maximum Consolidated Capital Expenditures Holdings shall not, and shall not permit its Subsidiaries to, make or incur Consolidated Capital Expenditures, in any Fiscal Year, in an aggregate amount for Holdings and its Subsidiaries in excess of $125,000,000; provided, such amount for any Fiscal Year shall be increased by an amount equal to the excess, if any (but in no event more than $62,500,000), of such amount for the immediately preceding Fiscal Year (with the above scheduled amount for any Fiscal Year being used prior to any amount carried over from the preceding Fiscal Year) over the actual amount of Consolidated Capital Expenditures for such previous Fiscal Year; provided, further, so long as no Default shall have occurred and being continuing or would result therefrom, Holdings and its Subsidiaries may also make Consolidated Capital Expenditures in an amount not to exceed the Cumulative Growth Amount immediately prior to the making of such Consolidated Capital Expenditures (but the amount of Consolidated Capital Expenditures made from the Cumulative Growth Amount in any Fiscal Year shall not exceed 50% of the above scheduled amount of Consolidated Capital Expenditures that would have otherwise been permitted to made in such Fiscal Year pursuant to this Section 6.7(c)); and provided, further that for each Permitted Acquisition consummated in any Fiscal Year and, if consummated, the SDI Acquisition in the Fiscal Year ending December 31, 2011, the maximum amounts set forth above for such Fiscal Year and for every Fiscal Year thereafter shall be increased by an amount equal to 110% of the quotient obtained by dividing (A) the amount of Consolidated Capital Expenditures made by the acquired Person or business for the thirty-six month period immediately preceding the consummation of such Permitted Acquisition or SDI Acquisition as determined by the financial statements for such acquired Person or business by (B) three (3).

  • Monthly Management Fee Payment On the first business day of each month, each class of each Fund shall pay the management fee to the Investment Manager for the previous month. The fee for the previous month shall be the sum of the Daily Management Fee Calculations for each calendar day in the previous month.

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