Subordinated Performance Fee definition
Examples of Subordinated Performance Fee in a sentence
In the event the Subordinated Incentive Fee is paid to the Advisor following Listing, no other performance fee or Subordinated Share of Net Sales Proceeds, including the Subordinated Performance Fee Due Upon Termination, will be paid to the Advisor.
In connection with the Acquisition Fee, Real Estate Commission, Annual Subordinated Performance Fee and Financing Coordination Fee, the Company shall pay such fees to the Advisor or its assignees in cash, in Shares, or a combination of both, the form of payment to be determined in the sole discretion of the Advisor.
The Company shall pay such Subordinated Performance Fee at such time as the Company completes the first Sale after the Termination Date.
If the Subordinated Performance Fee has not been paid in full within five years from the Termination Date, then the Advisor, its successors or assigns, may elect to convert the balance of the fee into Shares at a price per Share equal to the average closing price of the Shares over the ten trading days immediately preceding the date of such election if the Shares are Listed at such time.
The Company shall pay the Advisor or its assigns an Annual Subordinated Performance Fee payable in any year equal to 15% of the amount that the Total Return to Stockholders exceeds 6% per annum, provided, that in no event may the Annual Subordinated Performance Fee exceed 10% of the aggregate Total Return to Stockholders for the applicable year.
If the Advisor is paid a Subordinated Performance Fee in connection with a Listing, “Net Income” for purposes of calculating Total Operating Expenses, shall exclude the gain from the Sale of any Assets.
No deferral of payment of the Subordinated Performance Fee may be made under this paragraph of this Section 3.01(c).
The Company may pay an Annual Subordinated Performance Fee to the Advisor calculated on the basis of the total return to Stockholders, payable monthly in arrears in any year in which the Company’s total return on Stockholders’ capital contributions exceeds six percent (6%) per annum.
In the event the Subordinated Incentive Fee Due Upon Listing is paid to the Advisor following Listing, the Advisor will not be entitled to receive any payments of Subordinated Performance Fee Due Upon Termination or Subordinated Share of Net Sale Proceeds following receipt of the Subordinated Incentive Fee Due Upon Listing.
After the Termination Date, other than the Subordinated Performance Fee Due Upon Termination, the Advisor shall not be entitled to compensation for further services hereunder except it shall be entitled to receive from the Company within 30 days after the effective date of such termination all unpaid reimbursable expenses and all earned but unpaid fees payable to the Advisor prior to termination of this Advisory Agreement.