Year-End Adjustments. If the total amount deducted under Clauses 9.2 and 9.3 by the Manager in a Financial Year: (a) exceeds the amount of Manager’s Remuneration calculated in accordance with Clause 9.1, the amount of the excess shall be set off against subsequent deductions to be made by the Manager until the whole excess has been set off; or (b) falls short of the amount of Manager’s Remuneration calculated in accordance with Clause 9.1, the Manager shall be entitled to make such deduction(s) from Monthly Management Fees collected from the Owners until the whole amount of the shortfall has been deducted.
Appears in 13 contracts
Samples: Deed of Mutual Covenant and Management Agreement, Deed of Mutual Covenant and Management Agreement, Deed of Mutual Covenant and Management Agreement
