Permitted Management Fee Payments definition

Permitted Management Fee Payments means the following payments: (i) regularly scheduled payments of the Management Fee under (and as defined in) the Sun Management Agreement on the dates and in the amounts set forth in the Sun Management Agreement, (ii) payments of reasonable fees for management consulting services provided by Sun Capital or its affiliates to the Company or its subsidiaries in connection with a Management Consulting Event (as defined in the Sun Management Agreement), (iii) payments of amounts paid in reimbursement of reasonable out-of-pocket costs and expenses (including legal fees and disbursements) to the extent set forth in the Sun Management Agreement, provided that in no event shall the amount of such payments under this clause (iii) exceed Sixty Thousand Dollars ($60,000) in the aggregate during any twelve (12)-month period, and (iv) without duplication and to the extent applicable, payments of the Management Fee and the fees and payments described in the preceding clauses (ii) and (iii) that have been deferred during the term of this Financing Agreement. For avoidance of doubt, to the extent that the Management Fee or the fees described in clause (ii) of the definition of Permitted Management Fee Payments are not paid in cash when due during the term of this Financing Agreement, such amounts shall be permitted to accrue.
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Permitted Management Fee Payments shall have the meaning provided for in Section 7.4(i) of this Financing Agreement. Permitted Tax Liens shall mean, as to any Credit Party, liens for Taxes not due and payable and liens for Taxes that such Credit Party is contesting in good faith, by appropriate proceedings which are sufficient to prevent imminent foreclosure of such liens, and with respect to which adequate reserves are being maintained by such Credit Party in accordance with GAAP; provided that in either case, such liens (a) other than with respect to Real Estate, are not senior in priority to the liens granted by such Credit Party to the Lender and CIT, or (b) do not secure taxes owed to the United States of America (or any department or agency thereof) or any State or State authority, if applicable State law provides for the priority of tax liens in a manner similar to the laws of the United States of America, excluding in the case of clauses (a) and (b) of this proviso such liens in an amount not to exceed Twenty-Seven Thousand Five Hundred Dollars ($27,500) in the aggregate at any time for all Credit Parties and for which a notice of tax lien has been filed unless the Lender otherwise agrees in writing. PIK Interest Tranche shall have the meaning ascribed to it in Section 3.2(a). Plan shall mean an employee benefit plan (as defined in Section 3(3) of ERISA) now or hereafter maintained for employees of any Credit Party.
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Permitted Management Fee Payments means payments by Holdings and its Subsidiaries of management fees in an aggregate amount not to exceed (i) $3,000,000 in Fiscal Year 2011, (ii) $3,500,000 in Fiscal Year 2012, and (iii) $4,000,000 in Fiscal Year 2013 and each Fiscal Year thereafter, in each case, pursuant to the terms of the Management Agreement and the Management Fee Subordination Agreement.
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Examples of Permitted Management Fee Payments in a sentence

  • At any time prior to a Qualified IPO, except in connection with the consummation of a Qualified IPO, (i) enter into any other management agreement, consulting agreement, or similar arrangement (other than the Management Agreement) without the prior written consent of Agent; or (ii) pay any Management Fees other than Permitted Management Fee Payments.


More Definitions of Permitted Management Fee Payments

Permitted Management Fee Payments means payments by the Borrower of the management fees and out-of-pocket expenses payable by one or more of the Credit Parties to Xxxxxxxx International pursuant to the terms of the Consulting Agreement.
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Permitted Management Fee Payments means at any time prior to the consummation of a Qualified IPO, the payment of regularly scheduled Management Fees in accordance with the Board Services and Consulting Agreements each dated as of September 30, 2020 (as in effect on the date hereof) so long as at the time of and after giving pro forma effect thereto (calculated with respect to the financial covenants set forth in Section 6.5 as of the last day of the fiscal quarter for which Borrowers were required to deliver financial statements pursuant to Section 9.8 hereof as if such payment was made on the last day of such fiscal quarter and without giving effect to the addback set forth in clause (v) of the definition Consolidated EBITDA) no Default or Event of Default has occurred or would occur.
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Permitted Management Fee Payments means as to EIK or any Collateral Property, the sum of (a) up to 5.0% of the Gross Revenues (as such term is defined in the Management Agreement with EIK), (b) up to 10% of the Pharmacy/Rehab G&A Costs (as such term is defined in the Management Agreement with EIK), and (c) reimbursement of employment related costs necessary to keep the collateral facilities functioning and maintain residents’ safety which are required to be paid pursuant to the Management Agreement with EIK.
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Related to Permitted Management Fee Payments

  • Property Management Fee means the fee payable to the Manager for its day-to-day management of the Property pursuant to the Management Agreement.

  • Management Fees means, with respect to each Project for any period, an amount equal to the greater of (i) actual management fees payable with respect thereto and (ii) three percent (3%) per annum on the aggregate base rent and percentage rent due and payable under leases at such Project.

  • Collateral Management Fee means each of the Senior Management Fee, the Subordinated Management Fee and the Incentive Collateral Management Fee.

  • Base Management Fee means the base management fee, calculated and payable quarterly in arrears, in an amount equal to one-fourth of 1.50% of the Company’s Equity.

  • Asset Management Fee shall have the meaning set forth in Section 8.02.

  • Management Fee has the meaning given in Section 4.1.

  • Investment Management Fee means each of the Senior Investment Management Fee, the Subordinated Investment Management Fee and the Incentive Investment Management Fee.

  • Management Fee Subordination Agreement means that certain Amended and Restated Management Fee Subordination Agreement, dated as of the Closing Date, by and between the Sponsor and Agent and acknowledged by the Borrower.

  • Fee Payment Date (a) the third Business Day following the last day of each March, June, September and December and (b) the last day of the Revolving Commitment Period.

  • Permitted Special Servicer/Affiliate Fees Any commercially reasonable treasury management fees, banking fees, title insurance and/or other insurance commissions and fees, title agency fees, and appraisal review fees received or retained by the Special Servicer or any of its Affiliates in connection with any services performed by such party with respect to any Serviced Loan or REO Property, in each case, in accordance with Article III of this Agreement.

  • Management Expenses means the Management Expenses more particularly described in Clause 10.1;

  • L/C Fee Payment Date the last day of each March, June, September and December and the last day of the Revolving Credit Commitment Period.

  • Servicing Fee Percentage With respect to each Mortgage Loan, the percentage specified on the Servicer Mortgage Loan Schedule.

  • Permitted Expenses means the reasonable and documented costs and expenses incurred by the Agents and the Lenders (and their respective agents or professional advisors) in connection with the preparation, administration, amendment and due diligence of this Agreement and the other Credit Documents and, which costs and expenses the Borrower shall reimburse to the Administrative Agent or shall pay or cause to be paid in accordance with the Credit Documents. “Permitted Expenses” shall include, without limitation, the expenses set forth in Sections 5.10 and 9.2 hereof.

  • Administration Fee Rate The sum of (i) the Servicing Fee Rate, (ii) the Master Servicing Fee Rate and (iii) the Credit Risk Management Fee Rate.

  • Incentive Management Fee shall have the meaning set forth in Section 9.2(e) hereof.

  • Pre-Incentive Fee Net Investment Income means interest income, dividend income and any other income (including any other fees, other than fees for providing managerial assistance, such as commitment, origination, structuring, diligence and consulting fees or other fees that the Corporation receives from portfolio companies) accrued during the calendar quarter, minus the Corporation’s operating expenses for the quarter (including the Base Management Fee, expenses reimbursed to the Adviser under this Agreement and any interest expense and dividends paid on any issued and outstanding preferred stock, but excluding the Incentive Fee). Pre-Incentive Fee Net Investment Income includes, in the case of investments with a deferred interest feature (such as original issue discount debt instruments with payment-in-kind interest and zero coupon securities), accrued income that the Corporation has not yet received in cash. Pre-Incentive Fee Net Investment Income does not include any realized capital gains, realized capital losses or unrealized capital appreciation or depreciation.

  • Total Assets under Management is the total average assets under management for the month for all Accounts or portions thereof for which all investment advisers (including the Adviser) to which FASC provides that Category of Services act as investment adviser or subadviser and which utilize the Category of Services. “Applicable Margin” is 0.10.

  • Arrangement Fee has the meaning specified in Section 2.05(a).

  • Credit Risk Management Fee The amount payable to the Credit Risk Manager on each Distribution Date as compensation for all services rendered by it in the exercise and performance of any and all powers and duties of the Credit Risk Manager under the Credit Risk Management Agreements, which amount shall equal one twelfth of the product of (i) the Credit Risk Management Fee Rate multiplied by (ii) the Stated Principal Balance of the Mortgage Loans and any related REO Properties as of the first day of the related Due Period.

  • Assets Under Management means, as of any specified date, the value of all Assets owned by the Partnership (the value to be determined as provided in this Agreement), including contributions requested and due from Partners and uncalled amounts of Commitments that are included in the Partnership’s regulatory capital (as such term is used in the SBIC Act), less the amount of any liabilities of the Partnership, determined in accordance with generally accepted accounting principles, consistently applied.

  • Net Liquidation Proceeds After Debt Service means, with respect to any Liquidation Event, all amounts paid to or received by or on behalf of Borrower, Senior Mezzanine Borrower or Mortgage Borrower in connection with such Liquidation Event, including, without limitation, proceeds of any sale, refinancing or other disposition or liquidation, less (a) Lender’s, Senior Mezzanine Lender’s and/or Mortgage Lender’s reasonable costs incurred in connection with the recovery thereof, (b) amounts required or permitted to be deducted therefrom and amounts paid pursuant to the Mortgage Loan Documents and Senior Mezzanine Loan Documents to Mortgage Lender and/or Senior Mezzanine Lender (as applicable), (c) in the case of a foreclosure sale, disposition or Transfer of any Individual Property in connection with realization thereon following a Mortgage Loan Event of Default, such reasonable and customary costs and expenses of sale or other disposition (including attorneys’ fees and brokerage commissions), (d) in the case of a foreclosure sale, disposition or Transfer of any Senior Mezzanine Collateral in connection with realization thereon following a Senior Mezzanine Loan Default under any Senior Mezzanine Loan Documents, such reasonable and customary costs and expenses of sale or other disposition (including attorneys’ fees and brokerage commissions), (e) in the case of a foreclosure sale, such costs and expenses incurred by Mortgage Lender under the Mortgage Loan Documents as Mortgage Lender shall be entitled to receive reimbursement for under the terms of the Mortgage Loan Documents, (f) in the case of a foreclosure sale, such costs and expenses incurred by Senior Mezzanine Lender under the Senior Mezzanine Loan Documents as Senior Mezzanine Lender shall be entitled to receive reimbursement for under the terms of the Senior Mezzanine Loan Documents, (g) in the case of a refinancing of the Mortgage Loan and/or Senior Mezzanine Loan, such costs and expenses (including attorneys’ fees) of such refinancing as shall be reasonably approved by Mortgage Lender and/or Senior Mezzanine Lender, as the case may be, and (h) the amount of any prepayments required pursuant to the Mortgage Loan Documents, Senior Mezzanine Loan Documents, and/or the Loan Documents, in connection with any such Liquidation Event.

  • Monitoring Fee means the fees payable to the Lender pursuant to Section 2.03(b) below.

  • Termination Fee Event has the meaning ascribed thereto in Section 5.2(a);