Property Management Fees definition

Property Management Fees means, with respect to each Property for any period, 3% of the aggregate base rent and percentage rent due and payable under leases with tenants at such Property.

Property Management Fees means monthly compensation provided to the property management agent, which may be calculated as a fixed fee per Unit or based upon a percentage of the Project’s “Gross Revenue Receipts”. “Gross Revenue Receipts” shall mean and refer to all items of income collected by the property manager in connection with its management and operation of the Project, including, but not limited to, rents, non-refundable deposits, laundry room income, non-refundable or forfeited cleaning and redecorating charges, receipts from vending and coin operated machines and equipment on the Project, excluding refundable security deposits, the value of employee units and sales taxes.

Property Management Fees means, with respect to any Real Estate Asset for any period, an assumed amount equal to the greater of (a) 3% of the aggregate base rent and percentage rent due and payable under leases with tenants at such Real Estate Asset and (b) actual management fees, excluding amounts that will be reclassified as “Regional”, “Executive Management”, or “General and Administrative” expenses.

Examples of Property Management Fees in a sentence

• The Advisor may cause the Company to pay Property Management Fees for property management services rendered by the Advisor or its Affiliates in connection with Properties acquired directly or through foreclosure.

• Property Management Fees will include the reimbursement of the specified cost incurred by the Advisor of engaging third parties for such services.

• Notwithstanding the above, the Advisor may engage (on behalf of the Company) third parties to provide property management services pursuant to its authority under Article 4 and pay such third parties all applicable Property Management Fees.

• If the Company retains the Advisor or its Affiliates to manage any of its Properties, the Company will pay the Advisor or its Affiliates in amounts that are usual and customary for comparable services rendered to similar Properties in the geographic market; provided, however, that the Conflict Committee must determine that such Property Management Fees are fair and reasonable and on terms and conditions not less favorable than those available from unaffiliated third parties.

• All or any portion of the Property Management Fees not taken as to any fiscal year shall be deferred without interest and may be paid in such other fiscal year as the Advisor shall determine.

More Definitions of Property Management Fees

Property Management Fees means fees in an amount equal to 3% of the gross revenues on a monthly basis generated from the rental income received from the managed properties.

Property Management Fees means the fees and expenses payable to Property Manager pursuant to Section 6, “Compensation,” hereof.

Property Management Fees means, with respect to each Property for any period 3% of the aggregate base rent and percentage rent due and payable under leases with tenants at such Property. “PTE” means a prohibited transaction class exemption issued by the U.S. Department of Labor, as any such exemption may be amended from time to time. “Public Lender” has the meaning specified in Section 7.02. “Qualified ECP Guarantor” means, at any time, each Loan Party with total assets exceeding $10,000,000 or that qualified at such time as an “eligible contract participant” under the Commodity Exchange Act and can cause another Person to qualify as an “eligible contract participant” at such time under Section 1a(18)(A)(v)(II) of the Commodity Exchange Act. “Qualified Fees” means, to the extent earned on a current basis (i.e. expected to be paid or settled in 30 days but excluding any payments made with Equity Interests) and are not deferred (except as set forth in (vii) below) by (a) the Borrower, (b) a wholly-owned Subsidiary of the Borrower or (c) a majority owned Subsidiary of the Borrower in which the Borrower, directly or indirectly, has the sole discretion to distribute any Qualified Fees at such Subsidiary to the Borrower (for clarification purposes, with respect to any non-wholly owned Subsidiary, only the pro rata portion of those fees that can be distributed to the Borrower shall constitute Qualified Fees for the purposes hereunder), all amounts consisting of the following: (i) property management fees, (ii) asset management fees, (iii) leasing commissions, (iv) tenant improvement oversight fees, (v) property acquisition fees, (vi) property financing fees and (vii) deferred asset management fees; provided that if the Qualified Fees attributable to the fees incurred with respect to clauses (v), (vi) and (vii) above accounts for more than 40% of the aggregate Qualified Fees, the amount of such property acquisition fees, property financing fees and deferred asset management fees that exceed such limit shall be deducted from Qualified Fees. With respect to a transaction that constitutes the acquisition of any Person or any management contracts, for the purpose of calculating Total Asset Value and Unencumbered Asset Value for the quarter during which the acquisition occurs and each of the next three full fiscal quarter periods subsequent to such acquisition, the Qualified Fees with respect to the acquired Person or management contracts, if any, shall be determined as follows:

Property Management Fees means fees agreed by the Company as payable to Property Managers for the fulfilment of the Property Management Services;

Property Management Fees means fees paid to any party for managing the day-to-day operations of any Property, provided such fees are billable to and paid by tenants occupying the Property.

Property Management Fees means all fees due to Property Manager under the Property Management Agreement.

Property Management Fees means, with respect to each Property (other than a Property for which the Borrower or Subsidiary has a triple-net lease in effect) for any period, an amount equal to actual management fees for such Property.