Common use of Year-End Adjustment to Management Fee Clause in Contracts

Year-End Adjustment to Management Fee. If for any Operating Year, the aggregate amount of the monthly payments of the Management Fee theretofore paid by Owner to Manager shall be more or less than the Management Fee payable for such Operating Year based upon the final determination of such Management Fee as reflected in the annual financial statements certified by the Independent Auditor in accordance with Section 6.3 of this Agreement, then, by way of year-end adjustment, within thirty (30) days after the delivery of such annual financial statements to Owner, Manager shall pay into the Operating Accounts the amount of any overpayment or withdraw from the Operating Accounts the amount of any underpayment; provided, however, that in the event that funds in the Operating Accounts are not sufficient to pay fully the Management Fee payable to Manager hereunder, Owner shall promptly pay to Manager on demand the amount of such deficiency.

Year-End Adjustment to Management Fee. If for any Operating Year, the aggregate amount of the monthly payments of the Management Fee theretofore paid by Owner to Manager shall be more or less than the Management Fee payable for such Operating Year based upon the final determination of such Management Fee as reflected in the annual financial statements certified by the Independent Auditor in accordance with Section 6.3 of this Agreement, then, by way of year-end adjustment, within thirty f if teen (3015) days after the delivery of such annual financial statements to Owner, Manager shall pay into the Operating Accounts to Owner the amount of any overpayment or withdraw from the Operating Accounts the amount of any underpayment; provided, however, that in the event that funds in the Operating Accounts are not sufficient to pay fully the Management Fee payable to Manager hereunder, Owner shall promptly pay to Manager on demand the amount of such deficiency.