Examples of Deferred Asset Management Fees in a sentence
For the calendar quarter ended [DATE], the total amount of Deferred Asset Management Fees is $ .
For the calendar quarter ended [DATE], the Advisor hereby agrees, solely with respect to such calendar quarter, to make Expense Support Payments in an amount equal to (i) the CDFFO Shortfall for such quarter, less (ii) the amount of Deferred Asset Management Fees for such quarter.
For each calendar quarter, the Corporation, the Operating Partnership and the Advisor shall execute a written acknowledgement substantially in the form attached hereto as Exhibit B specifying, with respect to such quarter, the dollar amount of (i) Deferred Asset Management Fees, (ii) Expense Support Payments, (iii) reimbursement payments to be made by the Corporation to the Advisor, and (iv) Reimbursable Amounts expiring in accordance with Section 4(a) hereof.
If the Company’s Distribution Payout Ratio is less than 100%, the excess MFFO will be used to repay any previously Deferred Asset Management Fees.
Commencing on the Effective Date and terminating on the earlier of the expiration or termination of this Agreement, in no event will the aggregate of the Deferred Asset Management Fees and Deficiency Support Payments exceed $30 million (the “Maximum Amount”).
If the Company’s Distribution Payout Ratio is greater than 100%, the excess MFFO will be used to repay any previously Deferred Asset Management Fees.
Any portion of the Asset Management Fees otherwise due and payable may or may not be taken, in whole or in part ("Deferred Asset Management Fees"), in the sole discretion of the Advisor.
As of September 30, 2022, Deferred Asset Management Fees totaled approximately $8.5 million.
The Company remains obligated to pay the Advisor outstanding Deferred Asset Management Fees in any month to the extent that MFFO for such month exceeds the amount of distributions declared for the record dates of that month (such excess amount, an “MFFO Surplus”); provided however, that any amount of outstanding Deferred Asset Management Fees in excess of the MFFO Surplus will continue to be deferred in accordance with this Section 8.03(iv).