The Management Fee Sample Clauses
The Management Fee clause defines the compensation that a manager or management company receives for providing their services. Typically, this clause outlines the calculation method for the fee, such as a fixed amount, a percentage of assets under management, or a share of profits, and specifies the payment schedule and any conditions for adjustments. By clearly establishing how and when management fees are paid, this clause ensures transparency and helps prevent disputes over compensation between the parties.
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The Management Fee. As full compensation for the services rendered to the Partnership hereunder and the expenses borne by the Company hereunder, during the period ending four (4) years after the Initial Closing Date (the "Initial Payment Period"), the Partnership shall pay the Company a management fee equal to 2% per annum of the aggregate Capital Commitments of all Partners. The management fee shall be paid semi-annually in advance commencing on the Initial Closing Date of the Partnership and continuing on the first days of each February and August thereafter until termination of this Contract. Subsequent to the end of the Initial Payment Period, the management fee will be equal to 1% per annum of the aggregate Capital Commitments of all Partners. In addition the management fee will be reduced by one-half during any period in which the Partnership is in a Continuity Mode as provided in Section 6.4 of the Agreement and to the extent that the Partnership is placed in a Continuity Mode during any period with respect to which the management fee has already been paid, such reduction shall be reflected as a credit against the management fee to be paid in the following semi-annual period.
The Management Fee. The Construction Manager agrees that the fee which the Owner must pay the Construction Manager for the following described items shall not exceed the percentage of the Cost of the Work as set forth in Appendix “A”. However, the Owner shall, at Owner’s sole discretion, have the ability to convert this Cost to a fixed sum at the time the Guaranteed Maximum Price Proposal is accepted by the Owner, which conversion shall be documented on Exhibit “M”. Further, the Owner shall have the right to audit the Management Fee. Management Fee shall include the Preconstruction Services Fee and all costs, including overhead and profit, associated with the construction of the project excluding General Conditions which will be itemized and documented in the GMP. The items which are included in this provision are as follows but not limited to:
(i) The Construction Manager’s provision of management services for the phase pursuant to Articles 1, 3 and 4, Chapter 2 of Appendix “A”;
(ii) Direct costs incurred with the exception of those specifically enumerated compensable as General Conditions Cost, Cost of the Work, cost of self-performed Work, or a Subcontractor or Supplier Cost;
(iii) The cost of Construction Manager’s home or branch office employees or consultants not at the Project Site (except as set forth in the GMP Proposal);
(iv) Non-field office (home and branch office) operational expenses such as telegrams, telephone service and long-distance and zone telephone charges, postage, office supplies, expressage, and other similar expenses;
(v) Data-processing costs indirectly related to the Work, including hardware, software, and CAD costs;
(vi) Cost of all non-project specific insurance (i.e. any insurances for which the GMP Proposal does not provide for payment to Construction Manager for insurance);
(vii) All general operating expenses;
(viii) All capital expenses, including any interest;
(ix) Any costs which would cause the Construction Price to exceed the GMP;
(x) Intentionally deleted;
(xi) Any costs or expenses incurred by the Construction Manager, not included in the General Conditions Cost, or Cost of the Work, incurred by the Construction Manager to provide management services necessary to complete the Project in an expeditious and economical manner consistent with this Contract for Construction Management and the best interests of the Owner;
The Management Fee a. The Management Fee shall be as follows: 1.2% of the Gross Receipts.
b. The Management Fee shall be payable in monthly installments as provided herein for the immediately preceding month beginning with the first day of the first month following the Commencement Date; provided, however, that for any partial month such amount shall be prorated to reflect the actual number of days for such month.
The Management Fee. As full compensation for the services rendered to the LLC hereunder and the expenses borne by the Company hereunder, during the period ending four (4) years after the date hereof (the "Initial Payment Period"), the LLC shall pay the Company a management fee equal to 2% per annum of the aggregate Capital Commitments of all Members (such Capital Commitments being in the aggregate amount of $55,762,673). The management fee shall be paid semi-annually in advance commencing on the date hereof and continuing on the first days of each February and August thereafter until termination of this Contract. Subsequent to the end of the Initial Payment Period, the management fee will be equal to 1% per annum of the aggregate Capital Commitments of all Members. The management fee will be reduced by one-half during any period in which the Domestic Fund is in a Continuity Mode as provided in Section 6.4 of the Domestic Fund Agreement and to the extent that the Domestic Fund is placed in a Continuity Mode during any period with respect to which the management fee has already been paid, such reduction shall be reflected as a credit against the management fee to be paid in the following semi-annual period.
The Management Fee. All remaining Net Revenues (the "Monthly Distribution Payment") shall be distributed to the Band, prior to a Band Event of Default and such notice as Manager may be required to give before exercising rights under the Dominion Agreement, at the same time the Management Fee is paid. After a Band Event of Default and the giving of such notice, payments shall be made in accordance with Section 4.19.6 above and, to the extent not inconsistent with that subsection, the Dominion Agreement, prior to payments of any remaining Net Revenues to the Band.