Residence Inn System Fee definition

Residence Inn System Fee means an amount payable to Manager as a Deduction from Gross Revenues for System Services, pursuant to Sections 3.01 and 4.01, that is an amount equal to (i) four percent (4%) of Suite Revenues for each Accounting Period through the end of the first twenty-six (26) full Accounting Periods, and (ii) five percent (5%) of Suite Revenues for each Accounting Period thereafter.
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Residence Inn System Fee shall during any given Fiscal Year (or portion ------------------------ thereof), be equal to four percent (4%) of Gross Revenues. It shall mean an amount paid to Management Company for the Residence Inn System Services.
Sample 1
Residence Inn System Fee means an amount paid to Manager for the ------------------------ following services hereunder: divisional financial services; product planning and development; employee planning; protection of the "Marriott Residence Inn" "Residence Inn by Marriott," and "Residence Inn" trade names, trademarks, logos and servicemarks; and the services of Manager's technical and operational experts making periodic inspection and consultation visits to the Inns (but not the services of the personnel of the Architecture and Construction Division of Marriott providing architectural, technical or procurement services for any Inn, which shall be treated as a Deduction described in subsection 6 of the definition of "Operating Profit"). Such amount shall be equal, during any given Fiscal Year (or portion thereof), to four percent (4%) of Suite Revenues.
Sample 1

Examples of Residence Inn System Fee in a sentence

  • Calculations and payments of the Incentive Management Fee, the Base Management Fee, the Residence Inn System Fee, and applications of Operating Profit made with respect to each Accounting Period within a Fiscal Year shall be accounted for cumulatively.

  • Notwithstanding the provisions of Article IX of this Agreement permitting the consolidation of reports and co-mingling of certain funds with other hotels owned by Owner, the Base Management Fee, Deferred Contingent Base Management Fees, Residence Inn System Fee and Incentive Management Fee shall be calculated based on the revenues generated by the Inn and not on a consolidated basis with any other hotels which may be owned by Owner.

  • Provide services included in the Residence Inn System Fee and the Chain Services.

  • Manager shall retain out of Gross Revenues an amount equal to the Base Management Fee plus the Residence Inn System Fee.

  • The Group’s recovery plans directly address the lessons of the year, stabilising operations after what has been a disruptive period.

  • The services described in this Section 10.02 shall not include services which are described in the definitions of "Base Management Fee" and "Residence Inn System Fee." Costs and expenses incurred in the providing of such services shall be allocated on a fair and equitable basis, on a "per-suite" basis, among all "Residence Inn by Marriott" inns managed by Manager in the United States receiving the same.

  • Notwithstanding anything to the contrary contained herein, any payments to third parties for services covered by the Base Management Fee or the Residence Inn System Fee shall be borne by the Manager.

  • The Residence Inn System Fee shall be calculated on the basis of Suite Revenues and will be payable as set forth in this Article V, and shall not be subject to limitations based on the amount of Operating Profit.

  • The Base Management Fee and the Residence Inn System Fee shall be payable based on Gross Revenues and Suite Revenues, as applicable, and shall not be subject to limitations based on the amount of Operating Profit.

  • Calculations and payments of the Incentive Management Fee, the Base Management Fee, the Residence Inn System Fee, and distributions of Operating Profit made with respect to each Accounting Period within a Fiscal Year shall be accounted for cumulative.


More Definitions of Residence Inn System Fee

Residence Inn System Fee means an amount paid to Manager for the following services hereunder: divisional financial services; product planning and development; employee planning; protection of the "Marriott Residence Inn" "Residence Inn by Marriott," and "Residence Inn" trade names, trademarks, logos and service marks; and the services of Manager's technical and operational experts making periodic inspection and consultation visits to the Inns (but not the services of the personnel of the Architecture and Construction Division of Marriott providing architectural, technical or procurement services for any Inn, which shall be treated as a Deduction described in subsection 6 of the definition of "Operating Profit"). Such amount shall be equal, during any given Fiscal Year (or portion thereof), to four percent (4%) of Suite Revenues.
Sample 1
Residence Inn System Fee means an amount paid to Manager for ------------------------ the following services hereunder: System financial planning (excluding any services provided in refinancing the Inns) and policy services; product planning and development; human resources management and planning for the System (but not any particular inn within the System); protection of the "Marriott Residence Inn," "Residence Inn by Marriott," and "Residence Inn" trade names, trademarks, logos and servicemarks; and the development and implementation of Manager's technical and operational programs designed for the periodic inspection and consultation visits to the inns in the System (but not the services of the personnel of the Architecture and Construction Division of Marriott providing architectural, technical or procurement services for any Inn, which shall be treated as a Deduction described in subsection 6 of the definition of "Operating Profit"). The Residence Inn System Fee shall be equal, during any given Fiscal Year (or portion thereof), to four percent (4%) of Suite Revenues.
Sample 1

Related to Residence Inn System Fee

  • Residence district means the territory contiguous to a highway, not comprising a business district,

  • Collection System means software used for the collection, tracking, and reporting of 34 outcomes data for Clients enrolled in the FSP programs.

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

  • Rechargeable Electrical Energy Storage System (REESS) means the rechargeable energy storage system that provides electric energy for electrical propulsion.

  • distribution system operator means a natural or legal person responsible for operating, ensuring the maintenance of and, if necessary, developing the distribution system in a given area and, where applicable, its interconnections with other systems and for ensuring the long-term ability of the system to meet reasonable demands for the distribution of electricity;

  • mover means an applicant who changes the dwelling in which the applicant is resident, and in respect of which the applicant is liable to pay council tax, from a dwelling in the area of the authority to a dwelling in the area of a second authority;

  • Cable television system means any system licensed, franchised or certificated pursuant to Article

  • Franchise Fee means a direct or indirect payment to purchase or operate a franchise. Franchise fee does not include any of the following:

  • Residential child care facility means a twenty-four-hour residential facility where children live together with or are supervised by adults who are not their parents or relatives;

  • Contract feeder means a person who as an independent contractor, feeds commercial feed to animals pursuant to a contract whereby such commercial feed is supplied, furnished or otherwise provided to such person and whereby such person’s remuneration is determined all or in part by feed consumption, mortality, profits or amount or quality of product.

  • Production System means a live SAP system used for running Licensee’s internal business operations and where Licensee’s data is recorded.

  • Residential customer means a customer who consumes gas solely for domestic use.

  • Residence in foreclosure or “affected residence” means residential real property consisting of one to four family dwelling units, one of which the owner occupies as the owner’s principal place of residence, where a delinquency or default on any loan payment or debt is secured by or attached to the residential real property including but not limited to contract for deed payments, real estate contracts, or real estate taxes.

  • Centralized Message Distribution System (CMDS) means the industry-wide data collection system, which handles the daily exchange of message details between CMDS participating telephone companies (also known as CMDS Direct Participants). AT&T-21STATE is a CMDS Direct Participant.

  • Residence employee means a person employed by you to perform duties in connection with the maintenance or use of the insured premises. This includes persons who perform household or domestic services or duties of a similar nature for you. This does not include persons while performing duties in connection with your business.

  • Transient lodging means a room or a suite of rooms.

  • apartment building means a residential use building, or the residential use portion of a mixed-use building, other than a townhouse or stacked townhouse containing four or more dwelling units each of which shall have access to above grade common halls, stairs, elevators, and yards;

  • Wastewater collection system means the sewer and pumping system used for the collection and conveyance of domestic, commercial and industrial wastewater; and

  • Residential contractor means a licensed contractor that holds an endorsement as a:

  • Energy storage system means a system which stores energy and releases it in the same form as was input.

  • Transportation System means the facilities at any time in place to receive Shipper’s Gas at the Entry Point(s), process, handle, transport and redeliver the Gas at the Exit Point(s), in accordance with the Transportation Agreement, as detailed in Transportation System Description.

  • Distribution System means the system of wires and associated facilities between the delivery points on the transmission lines or the generating station connection and the point of connection to the installation of the consumers;

  • Centralized Message Distribution System or "CMDS" means the operation system that Local Exchange Carriers use to exchange outcollect and IABS access messages among each other and other parties connected to CMDS.

  • Contract Fee means the price, fee, rent, or royalty payable in a contract under this chapter or

  • Intermodal Rail Yard means a rail facility in which cargo is transferred from drayage truck to train or vice-versa.

  • Water distribution system means that portion of the water supply system in which water is conveyed from the water treatment plant or other supply point to the premises of the consumer.