Payment of Subordinate Management Fee Sample Clauses

Payment of Subordinate Management Fee. For each Twelve Month Period Manager shall be paid the amount of the Subordinate Management Fee accrued through each Interest Payment Date on the Business Day immediately following such Interest Payment Date (each such installment, a “Semi-Annual Installment of the Subordinate Management Fee”). Notwithstanding the preceding sentence, each Semi-Annual Installment of the Subordinate Management Fee shall be paid only to the extent of the balance of the Subordinate Management Fee Fund as of the date of payment. If the balance of the Subordinate Management Fee Fund is not sufficient to satisfy the applicable Semi-Annual Installment of the Subordinate Management Fee, the unpaid portion of such Semi Annual Installment of the Subordinate Management Fee shall accrue, without interest, and shall be paid as soon as there are funds in the Subordinate Management Fee Fund. After the Bonds are no longer Outstanding, any Subordinate Management Fees in excess of amounts available in the Subordinate Management Fee Fund shall be paid within thirty (30) days of the delivery to Owner of an invoice evidencing the applicable Subordinate Management Fees. Notwithstanding any provision to the contrary herein contained, the Subordinate Management Fee is subordinate and inferior to Debt Service.
Sample 1
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Payment of Subordinate Management Fee. Manager shall be paid the Subordinate Management Fee semiannually, as accrued through each Interest Payment Date on the Business Day immediately following such Interest Payment Date (based on the then-current projected amount of the Subordinate Management Fee) from amounts then on deposit in the Subordinate Management Fee Fund (the "Semi-Annual Installment"). Manager shall be permitted to request payment of the Subordinate Management Fee pursuant to Section 5.17(c) of the Indenture. To the extent that funds are not available in the Subordinate Management Fee Fund for the payment of any Semi-Annual Installment(s) when due, such amounts shall be deferred ("Deferred Installment(s)"), and shall be payable (together with any interest thereon, as set forth below) as and when funds become available in the Subordinate Management Fee Fund. Deferred Installments shall earn interest equal to the lesser of (i) Prime Rate, plus 1.5%, and (ii) the maximum rate of interest permitted by law, including, without limitation Section 2251.025, Texas Government Code. Deferred Installments shall be paid with priority being given to the longest-accrued Deferred Installments, and shall be paid prior to any current/undeterred Semi-Annual Installments. Notwithstanding any of the foregoing or in the Indenture to the contrary, Corporation will be required to pay all Subordinate Management Fees (including interest thereon) no later than five years after the original due date thereof. Manager shall be entitled to reimbursement of any earned and unpaid Subordinate Management Fees (including interest thereon) upon expiration or an early Termination of this Agreement through the date of such expiration or Termination. Such amounts shall be payable regardless of whether funds are available therefor in the Subordinate Management Fee Fund. Notwithstanding any provision to the contrary herein contained, the Subordinate Management Fee is subordinate and inferior in priority to the payment of Debt Service. To the extent there are sufficient funds in the Subordinate Management Fee Fund, Manager shall be paid the first semi-annual payment of the Subordinate Management Fee Fund if the year to date REVPAR of the Hotel is at or above the REVPAR Performance Standard on the date when such semi-annual payment is due. In the event Manager has received payment of any portion of the Subordinate Management Fee with respect to any Operating Year in which the REVPAR Performance Standard is not met, then Manag...
Sample 1

Related to Payment of Subordinate Management Fee

  • Control and Payment of Subordinates; Independent Contractor The Services shall be performed by Consultant or under its supervision. Consultant will determine the means, methods and details of performing the Services subject to the requirements of this Agreement. City retains Consultant on an independent contractor basis and not as an employee. Consultant retains the right to perform similar or different services for others during the Term of this Agreement. Any additional personnel performing the Services under this Agreement on behalf of Consultant shall also not be employees of City and shall at all times be under Consultant’s exclusive direction and control. Consultant shall pay all wages, salaries, and other amounts due such personnel in connection with their performance of Services under this Agreement and as required by law. Consultant shall be responsible for all reports and obligations respecting such additional personnel, including, but not limited to: social security taxes, income tax withholding, unemployment insurance, disability insurance, and workers’ compensation insurance.

  • Allocation of Subordinate Reduction Amount to the Reference Tranches On each Payment Date prior to the Termination Date, after allocation of the Senior Reduction Amount and the Tranche Write-down Amount or Tranche Write-up Amount, if any, for such Payment Date as described above, the Subordinate Reduction Amount will be allocated to reduce the Class Notional Amount of each Class of Reference Tranche in the following order of priority, in each case until its Class Notional Amount is reduced to zero:

  • Engineer Payment of Subproviders No later than ten (10) days after receiving payment from the State, the Engineer shall pay all subproviders for work performed under a subcontract authorized hereunder. The State may withhold all payments that have or may become due if the Engineer fails to comply with the ten-day payment requirement. The State may also suspend the work under this contract or any work authorization until subproviders are paid. This requirement also applies to all lower tier subproviders, and this provision must be incorporated into all subcontracts.

  • Payment of Charges All amounts chargeable to Borrower under Section 6 hereof shall be Obligations secured by all of the Collateral, shall be payable on demand and shall bear interest from the date such advance was made until paid in full at the rate applicable to Revolving Credit Loans from time to time.

  • Payment of Service Fees Customer will pay the Service Fees for Services ordered by Customer, and all other amounts due under the Agreement, pursuant to the terms of this Section 5.

  • Payment of Extraordinary Education Related Expenses Section 5.1. PAYMENT OF EXTRAORDINARY EDUCATION-RELATED EXPENSES. In addition to the amounts determined pursuant to Articles IV and VI of this Agreement, Applicant on an annual basis shall also indemnify and reimburse District for all non-reimbursed costs, certified by the District’s external auditor to have been incurred by the District for extraordinary education-related expenses directly and solely related to the project that are not directly funded in state aid formulas, including expenses for the purchase of portable classrooms and the hiring of additional personnel to accommodate a temporary increase in student enrollment caused directly by such project. Applicant shall have the right to contest the findings of the District’s external auditor pursuant to Section 4.9 above.

  • Management Fee For all services to be rendered, payments to be made and costs to be assumed by you as provided in sections 2, 3, and 4 hereof, the Trust on behalf of the Fund shall pay you in United States Dollars on the last day of each month the unpaid balance of a fee equal to the excess of (a) 1/12 of .55 of 1 percent of the average daily net assets as defined below of the Fund for such month; provided that, for any calendar month during which the average of such values exceeds $250,000,000 the fee payable for that month based on the portion of the average of such values in excess of $250,000,000 shall be 1/12 of .52 of 1 percent of such portion; provided that, for any calendar month during which the average of such values exceeds $1,000,000,000, the fee payable for that month based on the portion of the average of such values in excess of $1,000,000,000 shall be 1/12 of .50 of 1 percent of such portion; provided that, for any calendar month during which the average of such values exceeds $2,500,000,000, the fee payable for that month based on the portion of the average of such values in excess of $2,500,000,000 shall be 1/12 of .48 of 1 percent of such portion; provided that, for any calendar month during which the average of such values exceeds $5,000,000,000, the fee payable for that month based on the portion of the average of such values in excess of $5,000,000,000 shall be 1/12 of .45 of 1 percent of such portion; provided that, for any calendar month during which the average of such values exceeds $7,500,000,000, the fee payable for that month based on the portion of the average of such values in excess of $7,500,000,000 shall be 1/12 of .43 of 1 percent of such portion; provided that, for any calendar month during which the average of such values exceeds 10,000,000,000, the fee payable for that month based on the portion of the average of such values in excess of $10,000,000,000 shall be 1/12 of .41 of 1 percent of such portion; and provided that, for any calendar month during which the average of such values exceeds 12,500,000,000, the fee payable for that month based on the portion of the average of such values in excess of $12,500,000,000 shall be 1/12 of .40 of 1 percent of such portion; over (b) any compensation waived by you from time to time (as more fully described below). You shall be entitled to receive during any month such interim payments of your fee hereunder as you shall request, provided that no such payment shall exceed 75 percent of the amount of your fee then accrued on the books of the Fund and unpaid.

  • Calculation of Liquidation Amount Upon the occurrence of a Liquidation Date:

  • Payment of Supplementary Xxxx 10.7.1 SPD may raise a ("Supplementary Xxxx") for payment on account of:

  • Rental Fee Is for one day only from 8:00 am to 12:00 midnight. Groups or Individuals requiring more than one day for their event will be charged a rental fee for each day required – no exceptions.

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