Subordinate Management Fee definition

Subordinate Management Fee means, a fee equal to 0.06% per annum 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 102% of sum of the Aggregate Outstanding Amount of the Secured Notes and the Income Notes; 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 ratio equal to (A) the Note Portfolio Value (after the payment of such amount and all amounts ranking higher to such payment in the Priority of Payments on the related Payment Date) divided by (B) the sum of the Aggregate Outstanding Amounts of the Secured Notes and the Income Notes declining below 102%.
Sample 1
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

Examples of Subordinate Management Fee in a sentence

  • Collectively, the Senior Management Fee Interest, the Subordinate Management Fee Interest and the Deferred Management Fee Interest.

  • The Subordinate Management Fee will be calculated on the basis of a calendar year consisting of 360 days and the actual number of days elapsed.

  • To the extent there are sufficient funds in the Subordinate Management Fee Fund, Manager shall be paid the first semi-annual payment of the Subordinate Management Fee Fund if the year to date REVPAR of the Hotel is at or above the REVPAR Performance Standard on the date when such semi-annual payment is due.

  • The Subordinate Management Fee Portion shall be paid quarterly, subject to the distribution waterfall under the 2020 Bond Documents.

  • Manager shall be permitted to request payment of the Subordinate Management Fee pursuant to Section 5.17(c) of the Indenture.

  • Notwithstanding the preceding sentence, each Semi-Annual Installment of the Subordinate Management Fee shall be paid only to the extent of the balance of the Subordinate Management Fee Fund as of the date of payment.

  • To the extent that funds are not available in the Subordinate Management Fee Fund for the payment of any Semi-Annual Installment(s) when due, such amounts shall be deferred ("Deferred Installment(s)"), and shall be payable (together with any interest thereon, as set forth below) as and when funds become available in the Subordinate Management Fee Fund.

  • For each Twelve Month Period Manager shall be paid the amount of the Subordinate Management Fee accrued through each Interest Payment Date on the Business Day immediately following such Interest Payment Date (each such installment, a “Semi-Annual Installment of the Subordinate Management Fee”).

  • Manager will qualify for a Subordinate Management Fee of 1% of Gross Operating Revenues for the applicable Operating Year, subject to Hotel achieving the REVPAR Performance Standard in such Operating Year.

  • All such fees shall be treated as Operating Expenses except the Subordinate Management Fee which, so long as any Bonds remain Outstanding under the Indenture, shall be subordinate to payment of Debt Service on all Outstanding Bonds and payable solely from amounts rightfully on deposit in the Subordinate Management Fee Fund held by the Trustee under the Indenture.


More Definitions of Subordinate Management Fee

Subordinate Management Fee means the “Subordinate Management Fee” as defined in the Investment Management Agreement.
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

Related to Subordinate Management Fee

  • Collateral Management Fee The fee payable to the Collateral Manager in arrears on each Payment Date pursuant to Section 8(a) of the Collateral Management Agreement and Section 11.1 hereof, comprised of (x) the Base Management Fee and (y) the Subordinated Management Fee.

  • Asset Management Fee shall have the meaning set forth in Section 8.03.

  • 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.

  • 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.

  • 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 Companion Loan A Companion Loan that, to the extent provided in the related Loan Documents and/or the related Co-Lender Agreement, is generally subordinate in right of payment to the related Split Mortgage Loan. The only Subordinate Companion Loans related to the Trust as of the Closing Date are evidenced by the Notes identified in the Loan Combination Table under the column heading “Subordinate Companion Loan(s),” each of which Notes evidences a separate Subordinate Companion Loan.

  • 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.

  • Default Management Charge has the meaning given to it in paragraph 6.2 of Framework Schedule 9 (Management Information);

  • 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 A 88.50 M-1 93.20 M-2 95.70 M-3 96.40 M-4 97.10 M-5 97.80 M-6 98.70

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

  • Management Fee shall have the meaning set forth in Section 10(a).

  • Pool Subordinate Amount As to each Mortgage Pool and any Distribution Date, the excess of the Pool Balance for such Mortgage Pool as of the first day of the immediately preceding Collection Period over (i) the Class Principal Amount of the Group 1 Senior Certificates (in the case of Pool 1) or (ii) the aggregate Class Principal Amounts of the Group 2 Senior Certificates (in the case of Pool 2) immediately prior to the related Distribution Date.

  • Subordination Depletion Date The Distribution Date preceding the first Distribution Date on which the Class A Percentage (determined pursuant to clause (ii) of the definition thereof) equals or exceeds 100%.

  • Subordinate Prepayment Percentage As to any Distribution Date, 100% minus the Senior Prepayment Percentage 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.