Examples of Minimum Management Fee in a sentence
Such Minimum Management Fee shall apply until such time as the leaseable space of the Property is at least fifty percent (50%) leased.
In addition to the Fixed Executive Management Fee, City shall pay Operator the sum of Twelve Thousand Five Hundred Dollars ($12,500.00) per calendar month as a “Fixed Minimum Management Fee.” The Fixed Minimum Management Fee will be paid on the 15th day of each month during the term of this Agreement.
Notwithstanding the foregoing, to the extent that Operator is required to disclose the use or application of the proceeds of the Fixed Minimum Management Fee pursuant to Section 14.4 of this Agreement or pursuant to Internal Revenue Service Form 990 reporting requirements, Operator shall, consistent with reporting requirements, provide City with the same information that is required to be so reported.
It is understood and agreed that Operator may use and expend the proceeds of the Fixed Minimum Management Fee as determined in the sole and absolute discretion of the Board of Directors of Operator without the consent of or reporting to City.
The Fixed Minimum Management Fee shall be paid in consideration of the management services provided by Operator hereunder, and is fully earned by Operator when paid.
In addition to the Fixed Executive Management Fee and the Fixed Minimum Management Fee, City shall pay to Operator an annual incentive fee (the “Incentive Fee”) in amount that shall vary based upon Operator’s ability to achieve the Weighted Incentive Fee Percentages for each Operating Year.