Payment of Operator's Incentive Fee Sample Clauses

Payment of Operator's Incentive Fee. On or before each March 31 during the Operating Term, beginning with March 31, 2005, Lessee shall pay to Operator, the Operator’s Incentive Fee, if any, for the prior Fiscal Year (prorated as applicable) which shall be determined consistent with the audited annual financial statements.
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Payment of Operator's Incentive Fee. On the 60th day following the end of each Fiscal Year, Lessee shall pay to Operator, the Operator's Incentive Fee, if any, for such Fiscal Year. "Operator's Incentive Fee" for any Fiscal Year shall be an amount determined by Lessee and Operator prior to commencement of the Fiscal Year and shall generally be based upon the financial performance of all of the Hotels, in the aggregate. The formula for calculating and determining Operator's Incentive Fee, if any, for each Fiscal Year shall be agreed to by Operator and Lessee in connection with the Approved Budget and in any event prior to commencement of each Fiscal Year.
Sample 1
Payment of Operator's Incentive Fee. On or before each December 31 during the Operating Term, beginning with December 31, 2002, Lessee shall pay to Operator, the Operator's Incentive Fee, if any, for the prior twelve month period ended September 30 which shall be determined consistent with the audited annual financial statements.
Sample 1

Related to Payment of Operator's Incentive 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.

  • Incentive Fee In the event that the actual costs for the development and construction of the Project are less than the Projected Project Costs (such difference being referred to as the "Savings"), fifty percent (50%) of the Savings shall be paid to the Developer as an incentive fee.

  • Base Management Fee The Base Management Fee shall be calculated at an annual rate of 2.0% of the Company’s average gross assets. The Base Management Fee shall be payable quarterly in arrears, and shall be calculated based on the average value of the Company’s gross assets at the end of the two most recently completed calendar quarters. All or any part of the Base Management Fee not taken as to any quarter shall be deferred without interest and may be taken in such other quarter as the Adviser shall determine. The Base Management Fee for any partial month or quarter shall be appropriately pro rated.

  • 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.

  • Interim payment At the end of each of the periods indicated in Annex I the Contractor shall submit to the Agency a formal request for payment accompanied by those of the following documents which are provided for in the Special Conditions: ➢ an interim technical report in accordance with the instructions laid down in Xxxxx X; ➢ the relevant invoices indicating the reference number of the Contract and of the order or specific contract to which they refer;

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

  • 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.

  • 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:

  • Incentive Payment 11.3.1 An employer may offer and an employee may accept an early retirement incentive based on the age at retirement to be paid in the following amounts Age at Retirement % of Annual Salary at Time of Retirement 11.3.2 An employer may opt to pay the early retirement incentive in three equal annual payments over a thirty-six (36) month period. 11.3.3 Eligible bargaining unit members may opt for a partial early retirement with a pro- rated incentive.

  • Payment of Overtime For the purposes of calculating overtime payments, each day or shift will stand-alone.

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