Payment of Operator's Basic Fee Sample Clauses

Payment of Operator's Basic Fee. Effective September 1, 2004 and on the first (1st) day of each month thereafter during the Operating Term, Operator shall be paid out of the Hotel Operating Account the Operator’s Basic Fee for the immediately prior month, based upon Gross Hotel Income for the immediately prior month, as determined from the books and records referred to in Article IX.
Sample 1Sample 2See All (4)
AutoNDA by SimpleDocs
Payment of Operator's Basic Fee. (a) On the first (1st) day of each month during the Operating Term, Operator shall be paid out of the Hotel Operating Account the Operator's Basic Fee for that month, based upon Gross Hotel Income for the immediately prior month, as determined from the books and records referred to in Article IX. Operator's Expenses, if any, shall be paid as invoiced for services and materials rendered. (b) Notwithstanding Section 10.01(a), upon commencement of this Agreement, Lessee agrees to pay to Operator the aggregate Operator's Basic Fee for the first three (3) months of the Operating Term as estimated from the initial budgeted revenues for such three-month period previously agreed to by the parties hereto.
Sample 1
Payment of Operator's Basic Fee. (a) On the first (1st) day of each month during the Operating Term, Operator shall be paid out of the Disbursement Account the Operator's Basic Fee for that month, based upon Gross Hotel Income for the immediately prior month, as determined from the books and records referred to in Article IX. Operator's Expenses, if any, shall be paid as invoiced for services and materials rendered. (b) The Operator and Lessee shall meet at least quarterly to review the Operator's Basic Fee (and to adjust it to the extent appropriate to provide fair and reasonable compensation and profit to the Operator) and review Operating Expenses. The Operator and Lessee at such meetings shall adjust the Approved Budget and proposed capital expenditures to reflect market conditions.
Sample 1

Related to Payment of Operator's Basic Fee

  • Payment of Operating Expenses Subject to the provisions of Section 6.08(c), Borrower will (i) pay the expenses of operating, managing, maintaining and repairing the Mortgaged Property (including utilities, Repairs and Capital Replacements) before the last date upon which each such payment may be made without any penalty or interest charge being added, and (ii) pay Insurance premiums at least 30 days prior to the expiration date of each policy of Insurance, unless applicable law specifies some lesser period.

  • Commencement of Operations The Partnership shall not begin operations on its Leases unless the Managing General Partner is satisfied that necessary title requirements have been satisfied.

  • List of Operator’s Subprocessors [Box 26] [Box 27] [Box 28] [Box 29]

  • PERIOD OF OPERATION Subject to certification, this Agreement shall come into force from the first pay period commencing on or after 1st December 2002 and shall remain in force until 31 October 2005.

  • CONTINUITY OF OPERATION Section 1: No Strikes, Work Stoppages or Lockouts

  • Statement of Operations Statement of Changes in Net Assets.

  • Definition of Operating Expenses Operating Expenses" shall mean and include all expenses incurred and payable in connection with the ownership, operation, maintenance, repair and management of the Premises and the improvements thereon and, without restricting the generality of the foregoing, shall include:

  • DATE AND PERIOD OF OPERATION 3.1 This Agreement will operate from the date seven (7) days after it is approved by the FWC and shall have a nominal expiry date of 2 July 2027. By no later than 2 July 2026 the Employer intends to commence discussions concerning a replacement enterprise agreement. This Agreement will continue to operate after its nominal expiry date unless it is replaced by another enterprise agreement or terminated in accordance with the Fair Work Act.

  • Date of Operation 3.1 This Agreement remains in force until 2/7/2027. The agreement will continue to apply beyond its expiration date until it is replaced in accordance with the FW Act.

  • Duties of Operator Operator shall perform all required testing of Manufacturer’s Bus in accordance with the FTA Regulations and the established testing procedures used at the bus testing facility and provided to Manufacturer which procedures are attached hereto marked Exhibit “A” and incorporated herein by this reference.

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