Subordinate Management Fee definition

Subordinate Management Fee means, a fee equal to 0.05% per annum (computed on the basis of the actual number of days elapsed in the Payment Period in respect of which payment is being made divided by 360) multiplied by the average of the daily Total Portfolio Value for the preceding Payment Period, payable monthly in arrears to the Investment Manager on each Payment Date if the Note Portfolio Value at the end of the immediately preceding Payment Period is greater than or equal to the Note Portfolio Value Threshold; provided that, without the prior approval of 662/3% of the Aggregate Outstanding Amount of the Income Notes, on any Payment Date on which the condition in clause (ii) of the definition of Income Note Distribution Deferral Condition is applicable, the Investment Manager shall not be entitled to receive the Subordinate Management Fee on such Payment Date; provided that, such amount will be deferred (but without the accrual of interest thereon) and paid on the first succeeding Payment Date on which the Note Portfolio Value exceeds the Note Portfolio Value Threshold; provided that the deferred amount will be paid in whole or in part only to the extent that such payment would not result in the Note Portfolio Value (after the payment of such amount and all amountsranking higher to such payment in the Priority of Payments on the related Payment Date) declining below the Note Portfolio Value Threshold.
Sample 1
Subordinate Management Fee means twenty-four and one-half percent (24.5%) of the Management Fee for each Twelve Month Period.
Sample 1
Subordinate Management Fee means the fee payable to Terwin Money Management LLC in arrears on each Quarterly Distribution Date pursuant to the Collateral Management Agreement, in an amount equal to 0.17%
Sample 1

Examples of Subordinate Management Fee in a sentence

  • The Subordinate Management Fee will be subordinated to certain other payments as provided for in the hotel operating agreement.

  • FACILITY OPERATOR AGREEMENTS - CONTINUED Subordinate Management Fee – The subordinate management fee shall mean that portion of the management fee set forth opposite the applicable period of time as set forth in the table below: Fourth Full Operating Year $234,000Fifth Full Operating Year $270,000Sixth Full Operating Year and thereafter $324,000, provided that the subordinate management feepayable for each succeeding operating year shall be increased or decreased by the REVPAR change.

  • These fees would be paid subject to the availability of amounts in the Subordinate Management Fee Fund.

  • Subordinate Management Fee – The subordinate management fee shall mean that portion of the management fee set forth opposite the applicable period of time as set forth in the table below: Fourth Full Operating Year $234,000Fifth Full Operating Year $270,000Sixth Full Operating Year and thereafter $324,000, provided that the subordinate management feepayable for each succeeding operating year shall be increased or decreased by the REVPAR change.

  • These fees will be paid subject to the availability of amounts in the Subordinate Management Fee Fund.

  • On the date that a Semi-Annual Installment of the Subordinate Management Fee is due, Owner shall, to the extent of funds in the Subordinate Management Fee Fund, disburse to Manager the applicable Semi-Annual Installment of the Subordinate Management Fee plus any accrued and unpaid portion of a Semi-Annual Installment of the Subordinate Management Fee.

  • Principal Waterfall Step 6 refers to payment of the [5] bp Subordinate Management Fee.

  • After the Bonds are no longer Outstanding, any Subordinate Management Fees in excess of amounts available in the Subordinate Management Fee Fund shall be paid within thirty (30) days of the delivery to Owner of an invoice evidencing the applicable Subordinate Management Fees.

  • Notwithstanding any provision to the contrary herein contained, the Subordinate Management Fee is subordinate and inferior to Debt Service.

  • The rooms shall be well lighted, drained, ventilated and of good construction with impervious materials in general, finished in light colors and so developed and planned that good sanitation can be maintained throughout the building at all times.


More Definitions of Subordinate Management Fee

Subordinate Management Fee has the meaning assigned to such term in Exhibit K of the Management Agreement.
Sample 1
Subordinate Management Fee shall have the meaning, with respect to each Property, given such term in the Management Agreement for such Property.
Sample 1
Subordinate Management Fee means the “Subordinate Management Fee” as defined in the Investment Management Agreement.
Sample 1

Related to Subordinate Management Fee

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

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

  • Base Management Fee means the base management fee, calculated quarterly in arrears, equal to 25% of the Fee Amount;

  • Subordinate Percentage As of any Distribution Date and, with respect to any Mortgage Pool comprised of two or more Loan Groups, any Loan Group, 100% minus the related Senior Percentage as of such Distribution Date.

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

  • Rate Management Agreement means any agreement, device or arrangement providing for payments which are related to fluctuations of interest rates, exchange rates, forward rates, or equity prices, including, but not limited to, dollar-denominated or cross-currency interest rate exchange agreements, forward currency exchange agreements, interest rate cap or collar protection agreements, forward rate currency or interest rate options, puts and warrants, and any agreement pertaining to equity derivative transactions (e.g., equity or equity index swaps, options, caps, floors, collars and forwards), including without limitation any ISDA Master Agreement between Borrower and Lender or any affiliate of Fifth Third Bancorp, and any schedules, confirmations and documents and other confirming evidence between the parties confirming transactions thereunder, all whether now existing or hereafter arising, and in each case as amended, modified or supplemented from time to time.

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

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

  • Subordinate Debt means indebtedness secured hereby or by any Supplemental Indenture which is by its terms expressly subordinate and inferior hereto both in lien and right of payment.

  • Subordinated Incentive Fee means the fee payable to the Advisor under certain circumstances if the Shares are Listed, as calculated in Section 8.07.

  • Subordinate Indebtedness means all present and future indebtedness, obligations, and liabilities of Borrower to Subordinate Lender under or in connection with the Subordinate Loan or the Subordinate Loan Documents.

  • Group I Subordinate Percentage For any Distribution Date, the excess of 100% over the Group I Senior Percentage for such date.

  • 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.

  • 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.

  • Subordinate Reduction Amount With respect to any Payment Date, the sum of the Scheduled Principal, Unscheduled Principal and Recovery Principal for such Payment Date, less the Senior Reduction Amount.

  • Subordinate Liquidation Amount For any Distribution Date and each Loan Group, the excess, if any, of the aggregate Liquidation Principal of Mortgage Loans related to that Loan Group which became Liquidated Mortgage Loans during the prior calendar month over the related Senior Liquidation Amount for that Distribution Date.

  • Group Subordinate Amount For a Mortgage Pool and any Distribution Date; the excess of (a) the Pool Principal Balance of such Mortgage Pool for the immediately preceding Distribution Date, over (b) the aggregate Class Certificate Balance of the Senior Certificates of the related Certificate Group immediately prior to that Distribution Date. Index: Not applicable.

  • Subordinate Net Funds Cap With respect to any Distribution Date, an amount equal to the weighted average of the Pool 1 Net Funds Cap and the Pool 2 Net Funds Cap, weighted on the basis of the Pool Subordinate Amount for each Mortgage Pool; provided, however, that on any Distribution Date after which the aggregate Class Principal Amount of the Senior Certificates relating to any Mortgage Pool has been reduced to zero, such weighting shall be on the basis of the Pool Balance of each Mortgage Pool.

  • Subordination Percentage With respect to each class of Class A Certificates and Class M Certificates, the respective approximate percentage set forth in the table below: Class Percentage (1) Percentage (2) A 73.250% 78.600% M-1 81.625% 85.300% M-2 88.125% 90.500% M-3 91.500% 93.200% M-4 92.750% 94.200% M-5 94.125% 95.300%

  • Group II Subordinate Percentage For any Distribution Date, the excess of 100% over the Group II Senior Percentage for such date.

  • Management Fee has the meaning given in Section 4.1.

  • Subordinate Prepayment Percentage As to any Distribution Date and Loan Group, 100% minus the Senior Prepayment Percentage for such Loan Group for such Distribution Date.

  • Group I Interest Remittance Amount With respect to any Distribution Date, that portion of the Available Funds for such Distribution Date attributable to interest received or advanced with respect to the Group I Mortgage Loans.