Performance Fee. The fee payable to the Advisor upon termination of this Agreement under certain circumstances if certain performance standards have been met pursuant to Section 4.03(b) or (c).
Performance Fee. Servicer shall pay to Ocwen for each calendar month during which Ocwen is servicing Mortgage Loans with respect to Subject Servicing Agreements pursuant to this Subservicing Supplement a performance fee (the “Performance Fee”) equal to the greater of (a) zero and (b) the excess, if any, of the aggregate of all Servicing Fees actually received by Servicer pursuant to the Subject Servicing Agreements and with respect to the Deferred Servicing Agreements during such calendar month (whether directly pursuant to such Subject Servicing Agreement or pursuant to the Sale Supplement, as applicable) over the sum of (i) the Monthly Servicing Fee for such calendar month and (ii) the Retained Servicing Fee for such calendar month, multiplied by (y) a fraction, (i) the numerator of which is the average unpaid principal balance of all Mortgage Loans subject to the Subject Servicing Agreements during such calendar month and (ii) the denominator of which is equal to the sum of the average unpaid principal balance of all Mortgage Loans subject to the Deferred Servicing Agreements during such calendar month and the average unpaid principal balance of all Mortgage Loans subject to the Subject Servicing Agreements during such calendar month, or such other allocation percentage which is agreed by Servicer and Ocwen (the “Allocation Percentage”). The Performance Fee, if any, for any calendar month will be reduced by 6.50% per annum (i.e., 0.5417% per month) of the Excess Servicing Advances, if any, for such calendar month multiplied by the Allocation Percentage. If the Closing Date does not occur on the first day of a calendar month, the Performance Fee for the period from the Closing Date to the last of the calendar month in which the Closing Date occurs shall be calculated in a pro rata manner based on the number of days in such period.
Performance Fee. The fee payable to the Advisor upon termination of this Agreement under certain circumstances if certain performance standards have been met and the Subordinated Incentive Fee has not been paid. Permanent Financing. The financing to acquire Assets, to pay a fee of 4.5% of any Permanent Financing as Acquisition Fees, and to refinance outstanding amounts on the Line of Credit.
Performance Fee. Notwithstanding any other provision herein, to the extent Seller’s performance is the direct and proximate cause of Buyer losing some or all of Buyer’s fee that it would have otherwise earned under its prime contract, Seller shall be liable to Buyer for the amount of such lost fee (“Lost Fee”). Prior to Buyer taking action to recover such Lost Fee, Buyer shall provide written notice to Seller. Such notice shall set forth the basis for Xxxxx’s assertion that Xxxxxx was responsible for the Lost Fee. Upon receipt of such notice, Seller shall have fifteen (15) business days to provide Buyer with a written response. Buyer shall then have an additional fifteen (15) business days to evaluate and consider Seller’s response. In the event that the Parties fail to reach agreement based on the foregoing procedure, the Parties shall escalate the Lost Fee dispute to their respective management designees who shall have an additional thirty (30) days to confer to resolve the dispute. If, after such additional time, the Parties cannot resolve the Lost Fee dispute, either Party may seek relief from a court of competent jurisdiction. If Xxxxxx and Buyer reach agreement of the amount of Seller’s liability for Buyer’s Lost Fee, Buyer may debit such amount against amounts owing to Seller under this Contract or other contracts between the Parties.
Performance Fee. In addition to the Asset Management Fee described in Section 9(a) above, the Company shall also pay to the Advisor as compensation for the advisory services rendered to the Company hereunder an amount equal to one half percent per annum of the Average Invested Assets of the Company (the "Performance Fee") calculated as set forth below. The Performance Fee will be calculated monthly, beginning with the month in which the Company first makes an investment in Properties or Loans, on the basis of one-twelfth of one half percent of the Average Invested Assets during the previous month, computed as a daily average. The Performance Fee calculated with respect to each month shall be payable on a quarterly basis on the last day of the first month of the immediately following fiscal quarter. Payment of this fee for any quarter shall be payable only if the Shareholders have received a Preferred Return. Any portion of the Performance Fee not paid due to the Company's failure to pay the Preferred Return shall be paid by the Company, to the extent it is not restricted by the 2%/25% Guidelines as described below, at the end of the next fiscal quarter through which the Company has paid the Preferred Return. If at the end of any fiscal quarter, the Company's Operating Expenses exceed the 2%/25% Guidelines over the immediately preceding 12 months, payment of the Performance Fee will be withheld to the extent necessary to cause the Company to satisfy the 2%/25% Guidelines. Any portion of the Performance Fee not paid due to the Company's failure to satisfy the 2%/25% Guidelines shall be paid at the end of the next fiscal quarter to the extent such payment would not cause the Company to fail to satisfy the 2%/25% Guidelines if such payment were to be included in the Company's Operating Expenses for the 12 months preceding such payment. For purposes of determining the Performance Fee, the price per share shall be: (i) the net asset value per share as determined by the most recent appraisal performed by an independent third party or, if an appraisal has not yet been performed, (ii) $10 per share. Any part of the Performance Fee that has been subordinated pursuant to this subsection (b) shall not be deemed earned until such time as payable hereunder.
Performance Fee. The term "Performance Fee" shall mean the amount payable to the Business Manager, if any, determined under Section 6.2, as a Management Fee based upon the Business Manager achieving certain pre-determined performance criteria.
Performance Fee. (a) The Manager shall be entitled to receive the applicable Performance Fee, if any, in respect of each Fiscal Quarter.
(b) The Performance Fee, Performance Test Return and Performance Test Benchmark Return for a Fiscal Quarter is to be calculated by the Manager as of the Fiscal Quarter End Date for the relevant Fiscal Quarter and notice of such Performance Fee, Performance Test Return and Performance Test Benchmark Return, including the calculation thereof, shall be provided by the Manager to the Company and the Compensation Committee within five Business Days after that Fiscal Quarter End Date.
(c) The Performance Fee calculated pursuant to Section 7.3(b) above will be allocated between the Company and the Managed Subsidiaries in accordance with the Company’s corporate allocation policy and otherwise in accordance with GAAP.
(d) The Performance Fee, if any, to which the Manager is entitled under this Section 7.3 is due in cash (subject to Section 7.3(e)) as of the Fiscal Quarter End Date of the relevant Fiscal Quarter and shall be settled by the Company and the Managed Subsidiaries (in accordance with the allocation pursuant to Section 7.3(c) above) within 10 Business Days of receipt by the Company of notification pursuant to Section 7.3(b).
(e) The Manager has the right but not the obligation to invest all or a portion of the Performance Fee to which the Manager is entitled under this Section 7.3 in Company Common Units.
(i) If the Manager determines to invest all or any portion of its Performance Fee with respect to a Fiscal Quarter in Company Common Units, the Manager shall be entitled to purchase, upon payment and subject to clause (iii) below, that number of Company Common Units equal to such amount of the Performance Fee calculated pursuant to Section 7.3(b), divided by the volume weighted average trading price of a Company Common Unit during the period commencing on and including the first Trading Day of the last calendar month of the relevant Fiscal Quarter and ending on and including the last Trading Day of such calendar month (such volume weighted average trading price, the “Performance Fee VWAP”).
(ii) In the event the Manager determines to invest all or any portion of its Performance Fee for any Fiscal Quarter in Company Common Units, it shall notify the Company and the Compensation Committee of the percentage of the Performance Fee to be invested in Company Common Units during the Election Period immediately preceding the Fiscal Quarter End ...
Performance Fee. The terms of the Units in some of the Sub-Funds may allow a performance fee that will be charged in certain situations by a Sub-Fund and allocated to the Management Company to provide an additional incentive for generating performance. However, the performance fee could encourage the Management Company to make investments that are riskier or more speculative than it would if it were receiving only a management fee. Furthermore, the Management Company will receive a part of the performance fee on unrealized gains that may potentially never be realized. Conflicts of Interest. See section "Conflicts of Interest". Unaudited Redemption Price. Calculation and payment of a Unitholder's redemption proceeds will be based on an unaudited Net Asset Value per Unit. Adjustments and revisions may be made to the Net Asset Value and/or Net Asset Value per Unit following the year-end audit of the Segregated Portfolio. Since no adjustments will be made to the proceeds paid to the redeeming Unitholder, the amount paid to the redeeming Unitholder may be higher or lower than it would have been using the audited Net Asset Value per Unit. Such adjustments and revisions will also affect the non-redeeming Unitholders at the time that such adjustment or revision is made.
Performance Fee. The Performance Fee shall be the amount, calculated on a monthly basis, that is calculated in accordance with the Applicable Exhibit to the Budget.
Performance Fee. 26.1 The Fund Manager is entitled to Performance Fee as per Seventh Schedule.
