Reduction of Annual Fee Sample Clauses

Reduction of Annual Fee. In the event of the Reduction of Annual Fee, the Obligor shall pay to the Bank the resulting reduced Annual Fee, as defined and provided in the article 4(a) of the Contract and the Bank shall provide the Seller with information on the amount of payments received from the Obligor before the date of the Reduction of the Annual Fee (the "Pre-Reduced Payments Received"). Within 14 days from the receipt of such information, but not later than on the first date of the implementation of the Reduction of Annual Fee, the Seller shall reimburse the Bank with: (a) the difference between the Purchase Price, less the Pre-Reduced Payments Received and less the amounts of the resulting reduced Annual Fee to be paid (and, for the avoidance of doubt, being unpaid so far) by the Obligor (the "Reduced Difference"); and (b) the interest which accrues on the Reduced Difference calculated at the interest rate which the Bank could earn by placing the Reduced Difference (separately for each Annual Fee originally payable under the Contract) on deposit with a leading bank in the relevant Interbank Market for the period starting on the date of the actual payment of such Reduced Difference up to the date on which the respective Annual Fee would have been payable had the Reduction of Annual Fee not occurred.
Sample 1
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Reduction of Annual Fee. (a) In the event of the Reduction of Annual Fee paid to the Lender by the Obligor, the Lender shall provide the Borrower with information on the amount of payments received from the Obligor before the date of the Reduction of the Annual Fee (the "Pre-Reduced Payments Received"). (b) Within 14 days from the date of the Reduction of Annual Fee, the Borrower shall offer to reimburse the Lender with, and upon acceptance by the Lender shall reimburse the Lender: (i) the difference between the total amount of Loan outstanding at the end of the Availability Period together with the interest which would have been payable had the Reduction of the Annual Fee not occurred, less the Pre-Reduced Payments Received (the "Reduced Difference"), and (ii) the interest which accrues on the Reduced Difference calculated at the interest rate which the Lender could earn by placing the Reduced Difference (separately for each Annual Fee originally payable under the Contract) on deposit with a leading lender in the relevant Interbank Market for the period starting on the date of the actual payment of such Reduced Difference up to the date on which the respective Annual Fee would have been payable had the Reduction of Annual Fee not occurred, and (iii) the Hedge Costs. (c) With respect to the offer to reimburse referred to in Subsection (b) above, the Lender shall have the option to accept all or a portion of such offer for a period of 14 days from the date of receipt thereof by the Lender and such offer shall thereafter expire.
Sample 1
Reduction of Annual Fee. The Annual Fee shall be subject to reduction or termination as follows: (a) Except as set forth in Section 5(d), the amount of the Annual Fee payable to the AIP or Dolphin, as the case may be, shall be reduced from time to time by 10 percent for each 10 percent reduction, in one or a series of related or unrelated transactions, in the number of Conversion Shares held by the AIP or Dolphin, as applicable, from the number of Conversion Shares held by such person immediately following the effective date of the conversion (the “Conversion Date”), such reduction in the amount of the Annual Fee to be effective on the first day of any quarterly period following the date any such reduction occurs. (b) Except as set forth in Section 5(d), the Company’s obligation to pay its portion of the Annual Fee to the AIP or Dolphin, as the case may be, shall terminate on the first day of the first quarterly period following the date on which AIP or Dolphin, as applicable, no longer holds a beneficial interest in or voting control of at least 50 percent of the Conversion Shares it held at the end of the month in which the Conversion Date occurred. (c) Any reduction in or termination of the Annual Fee payable to AIP pursuant to this Section shall not affect the Company’s obligation to pay the Annual Fee payable to Dolphin unless and until such Annual Fee is reduced or terminated with respect to Dolphin. Likewise, any reduction in or termination of the Annual Fee payable to Dolphin pursuant to this Section shall not affect the Company’s obligation to pay the Annual Fee payable to AIP unless and until such Annual Fee is reduced or terminated with respect to AIP. (d) Notwithstanding the foregoing, if AIP III exercises its right (the “Put”) to require the Company to purchase and redeem its shares of Common Stock pursuant to the Put and Call Agreement between the Company and AIP III, dated September 30, 2004, and the Company either fails to pay the “put price” or issues shares of Series C Preferred Stock thereunder, no reduction in or termination of the Annual Fee payable to AIP pursuant to this Section shall take effect until the Put Price has been paid or all shares of the Company’s Series C Preferred Stock have been redeemed by the Company.
Sample 1

Related to Reduction of Annual Fee

  • Annual Fees The annual rental fee of a standard individual 12 x 14 plot is $40 per plot. Please note this rental fee is non-refundable and must be paid at the time of application. This fee is used to offset expenses associated with the Garden. Please make checks payable to Xxxxxx Township Recreation.

  • Annual Fee As compensation for its activities hereunder, the Asset Representations Reviewer shall be entitled to receive an annual fee (the “Annual Fee”) with respect to each Annual Period prior to the termination of the Issuer, in an amount equal to $5,000.

  • Payment of Annual Leave Upon resignation, retirement, or dismissal of any employee in the bargaining unit, he/she shall receive a sum equal to the number of days of annual leave remaining to his/her credit, provided that any or all amounts may be applied to offset any amounts owed the state by the employee. In the event of death of an employee while in the bargaining unit, a sum equal to the number of days annual leave remaining shall be paid to his/her estate.

  • Base Annual Salary “Base Annual Salary” means the greater of (1) the highest annual rate of base salary in effect for the Executive during the 12 month period immediately prior to a Change in Control or, (2) the annual rate of base salary in effect at the time Notice of Termination is given (or on the date employment is terminated if no Notice of Termination is required).

  • Contract Duration and Annual Salary 1. The College hereby employs the Administrator in the capacity of Director - Marketing Services, Associate Professor for one year, commencing on July 1, 2024 and terminating on June 30, 2025. The Administrator accepts such employment on the conditions hereinafter set forth, and any applicable provisions of the Board of Trustees Policy Manual. In the event of conflict between Board Policy and this Contract, the Contract shall govern. 2. For the 2024-2025 contract year, the Administrator shall receive an annual salary of $178,054.00 subject to applicable deductions, to be paid in bi-weekly installments as full compensation for all rights granted and service performed under this Contract.

  • Monthly Fees ACS will xxxx Customer each month during the term of this Agreement based on number of "Actions" which occurred during the prior month. The definition of "Actions" and fees for each Action will be documented in each Task Order. Customer shall cause ACS to be paid the foregoing fees on a monthly basis within thirty (30) days of ACS' delivery of an invoice for the preceding month's Actions.

  • Referral Fees If the CLIENT was introduced to the ADVISER through a Solicitor, the ADVISER may pay that Solicitor a referral fee in accordance with Rule 206(4)-3 of the Investment Advisers Act of 1940. The referral fee shall be paid solely from Adviser Compensation as defined in this Agreement, and shall not result in any additional charge to the CLIENT. The CLIENT acknowledges receipt of the written disclosure statement disclosing the terms of the solicitation arrangement between the ADVISER and the Solicitor, including the compensation to be received by the Solicitor from the ADVISER.

  • PAYMENT OF REFERRAL FEE For each Referred Client, Recipient Broker/Agent shall pay Xxxx.xxx 35% of the gross compensation earned on the referred side in connection with the sale and purchase of real property by such Referred Client if closing occurs within 18 months after the date Xxxx.xxx identified via the monthly report, agent portal and/or placed such Referred Client to Recipient Agent, and the property closed with Recipient Agent (a “Referral Fee”). In the event Recipient Broker/Agent provides the Referred Clients information to another Agent in the brokerage and the Referred Client closes with that Agent, a Referral Fee will be due and that agent shall also be considered a Recipient Agent for the purposes of this Agreement. In the event the Recipient Broker/Agent is an active client of XXXX.xxx’s “Guaranteed Display” featured agent program at the time of the property closing, the applicable referral will be 30%. Recipient Broker/Agent shall either (i) direct the escrow/closing agent to pay the Referral Fee to Xxxx.xxx at closing or (ii) pay the Referral Fee directly to Xxxx.xxx within 15 calendar days of closing.

  • Base Fee The Company shall pay to the Advisor a quarterly base fee (the “Base Fee”) payable in arrears in cash, for services provided by the Advisor in the preceding quarter. For purposes of this Agreement, the “Base Fee” will be equal to 0.70% per annum of the Total Market Capitalization of the Company, subject to the payment of a minimum quarterly base fee (“Minimum Base Fee”), if applicable. For purposes of this Agreement, “Total Market Capitalization” shall be calculated on a quarterly basis as (i) the average of the volume-weighted average price per share of Ashford Prime’s common stock for each trading day of the preceding quarter multiplied by the average number of shares of Ashford Prime’s common stock outstanding during such quarter, on a fully-diluted basis (assuming all common units and long term incentive partnership units in the Operating Partnership which have achieved economic parity with common units in the Operating Partnership have been converted to common stock in the Company), plus (ii) the quarterly average of the aggregate principal amount of the Company’s consolidated indebtedness (including the Company’s proportionate share of debt of any entity that is not consolidated but excluding the Company’s joint venture partners’ proportionate share of consolidated debt), plus (iii) the quarterly average of the liquidation value of the Company’s outstanding preferred equity. The Minimum Base Fee for each quarter will be equal to the greater of (i) 90% of the Base Fee paid for the same quarter in the prior year and (ii) the G&A Ratio multiplied by the Company’s Total Market Capitalization. For purposes of this Agreement, the “G&A Ratio” will be calculated as the simple average of the ratios of total general and administrative expenses, less any non-cash expenses but including any dead deal costs, paid in the applicable quarter by each member of a select peer group set forth in Exhibit A (each, a “Peer Group Member” and collectively, the “Peer Group”), divided by the total enterprise value of such Peer Group Member (calculated in the same manner as the Company’s Total Market Capitalization). The G&A Ratio for each Peer Group Member will be calculated based on the financial information presented in such Peer Group Member’s Form 10-Q or 10-K periodic filings with the SEC following the end of each quarter. The Peer Group may be modified from time to time by mutual written agreement of the Advisor and a majority of the Independent Directors, negotiating in good faith. The Base Fee, as calculated above, shall be payable in arrears no later than the 15th day following the end of each quarter (i.e., one-fourth of 0.70% of the Total Market Capitalization of the Company). The Minimum Base Fee shall be calculated as soon as practicable following the end of the quarter, and to the extent the Minimum Base Fee exceeds the Base Fee paid to the Advisor with respect to any quarter, the Company will pay the Advisor the difference between Minimum Base Fee and the Base Fee within 5 business days of final calculation of the Minimum Base Fee. For purposes of payment of the Base Fee for a partial quarter relating to the first quarter in which this Agreement is effective or for the last quarter in which this Agreement is terminated, the Base Fee shall be calculated as 0.70% of the Total Market Capitalization of the Company, calculated using each trading day of such partial quarter prior to termination, multiplied by the number of days in the applicable quarter in which this Agreement is in effect divided by 365 or 366 days, as applicable. The Minimum Base Fee shall be similarly reduced proportionately based on the number of days in the applicable quarter in which this Agreement is in effect divided by 365 or 366 days, as applicable.

  • Payment for annual leave (a) Before going on annual leave, an employee will be paid the amount of wages they would have received for ordinary time worked had they not been on leave during that period. (b) At the election of the employee such payments may be paid in accordance with the usual pay day relevant to the period of leave being taken.

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