Weekly Management Fee has the meaning set forth in the Management Agreement.
Weekly Management Fee means, with respect to each Weekly Allocation Date, the amount determined by dividing:
Weekly Management Fee means (X) prior to the Operative Date, with respect to each Weekly Allocation Date, the amount determined by dividing (i) an amount equal to the sum of (A) a $55,000,000 base fee, plus (B) $13,000 for every $1,000,000 in U.S. System Sales by (ii) 52; provided that the Weekly Management Fee may be adjusted on each Weekly Allocation Date to reflect any change to U.S. System Sales as set forth in the Weekly Manager’s Certificate, it being agreed that the Manager will update the U.S. System Sales figures as often as reasonably practicable but at least once in each Monthly Fiscal Period); provided, further, that each of the amounts set forth in clauses (i)(A) and (i)(B) will be subject to successive 2% annual increases on the first day of the Quarterly Collection Period that commences immediately following each anniversary of the Closing Date and that the incremental portion of such fees will be payable only to the extent that the sum of amounts set forth in clauses (i)(A) and (i)(B) as so increased will not exceed 35% of the aggregate Retained Collections over the preceding four Quarterly Collection Periods or (Y) following the Operative Date, the “Weekly Management Fee” shall be the formula designated by the Master Issuer in writing to the Trustee, so long as (a) the Master Issuer certifies in writing to the Trustee that (i) the formula was determined in consultation with the Back-up Manager, (ii) the Master Issuer believes that the new formula is necessary to obtain a rating for a future issuance of a new Series of Notes under the Base Indenture and (iii) the Master Issuer will disclose the formula in each Quarterly Noteholders’ Statement and (b) the Trustee has received written confirmation from the Master Issuer that the Rating Agency Condition with respect to each Series of Notes Outstanding has been satisfied with respect to such new formula; provided, that if no such designation is made by the Master Issuer to the Trustee following the Operative Date then the “Weekly Management Fee” shall be the amount calculated as set forth in clause (X).”
Examples of Weekly Management Fee in a sentence
So long as the Manager continues to provide the Services (whether or not the Manager has been terminated as the Manager) during the Disentanglement Period, the Manager will continue to be paid the Weekly Management Fee.
As compensation for the performance of its obligations under this Agreement, the Manager shall receive the Weekly Management Fee and the Supplemental Management Fee, if any, on each Weekly Allocation Date out of amounts available therefore under the Indenture on such Weekly Allocation Date in accordance with the Priority of Payments.
So long as the Manager continues to provide the Services during the Disentanglement Period, the Manager will continue to be paid the Weekly Management Fee.
As compensation for the performance of its obligations under this Agreement, the Manager shall receive the Weekly Management Fee and the Supplemental Management Fee, if any, on each Weekly Allocation Date out of amounts available therefor under the Indenture on such Weekly Allocation Date in accordance with the Priority of Payments.
As compensation for the performance of its obligations under this Agreement, the Manager will be entitled to receive (i) the Weekly Management Fee, and (ii) with the written consent of the Control Party (such consent not to be unreasonably withheld or delayed), the Supplemental Management Fee, if any, on each Weekly Allocation Date out of amounts available therefor under the Indenture on such Weekly Allocation Date in accordance with the Priority of Payments.
More Definitions of Weekly Management Fee
Weekly Management Fee means for each Weekly Allocation Date within a Quarterly Collection Period, an amount, payable in arrears, determined by dividing (a) the sum (as adjusted pursuant to this definition) of (i) $26,500,000, plus (ii) $600,000 for every 100 Open Domino’s Stores located in the contiguous United States as of the last day of the immediately preceding Quarterly Collection Period; by (b) 52 or 53, as applicable, based on the number of weeks in the fiscal year; provided that the amount set forth in clause (a) will increase by 2% per annum on each anniversary of the Closing Date or, if the anniversary of the Closing Date in any calendar year is not the first day of a Quarterly Collection Period, on the first day of the Quarterly Collection Period immediately following the anniversary of the Closing Date; provided, further, that the amount in clause (a), as adjusted, shall not exceed an amount equal to 25% of the aggregate amount of Retained Collections with respect to the preceding four Quarterly Collection Periods.
Weekly Management Fee means with respect to each Weekly Allocation Date, the amount determined by dividing (i) an amount equal to the sum of (A) a $55,000,000 base fee, plus (B) $13,000 for every $1,000,000 in U.S. System Sales by (ii) 52; provided that the Weekly Management Fee may be adjusted on each Weekly Allocation Date to reflect any change to U.S. System Sales as set forth in the Weekly Manager’s Certificate, it being agreed that the Manager will update the U.S. System Sales figures as often as reasonably practicable but at least once in each Monthly Fiscal Period); provided, further, that each of the amounts set forth in clauses (i)(A) and (i)(B) will be subject to successive 2% annual increases on the first day of the Quarterly Collection Period that commences immediately following each anniversary of the Closing Date and that the incremental portion of such fees will be payable only to the extent that the sum of amounts set forth in clauses (i)(A) and (i)(B) as so increased will not exceed 35% of the aggregate Retained Collections over the preceding four Quarterly Collection Periods.
Weekly Management Fee has the meaning set forth in the applicable Management Agreement. “Weekly Manager’s Certificate” has the meaning specified in Section 4.1(a) of the Base Indenture. “Weekly Product Sourcing Profits Amount” means, with respect to each fiscal week of the applicable Securitization Entities, the amount (not less than zero) equal to (a) all revenue (excluding applicable Pass-Through Amounts) accrued over such period in respect of the operation of the applicable Product Sourcing Business minus (b) all operating expenses (excluding applicable Pass-Through Amounts, but in the case of Driven Canada Product Sourcing, including Excluded Amounts described in clause (ii) or (iii) of the definition thereof and, at the option of Driven Canada Product Sourcing, any such Excluded Amount required or reasonably expected to be payable at or prior to the immediately following four (4) Quarterly Payment Dates or for which a reserve is maintained on account of quarterly or annual payment of such Excluded Amounts which, in each case, will be deemed to be accrued when paid or reserved) accrued over such period in connection with the operation of such applicable Product Sourcing Business.
Weekly Management Fee means for each Weekly Allocation Date within a Quarterly Collection Period, either (X) an amount, payable in arrears, determined by dividing (a) the sum (as adjusted pursuant to this definition) of (i) $14,000,000, plus (ii) $4,700 for every integer multiple of $100,000 in aggregate Retained Collections (excluding PULSE Maintenance Fees and Technology Fees) over the preceding four Quarterly Collection Periods; by (b) 52 or 53, as applicable, based on the number of weeks in the fiscal year; provided, that the amount in clause (a), as adjusted, shall not exceed an amount equal to 25% of the aggregate amount of Retained Collections (excluding PULSE Maintenance Fees and Technology Fees) with respect to the preceding four Quarterly Collection Periods or (Y) on and after the Implementation Date (as defined in the Second Amendment), an amount determined by another formula notified by the Master Issuer in writing to the Trustee and the Control Party; provided that (a) the Master Issuer or the Manager certifies to the Trustee and the Control Party that such other formula was determined in consultation with the Back-Up Manager, (b) after delivering such notification, the Master Issuer will disclose the then-applicable formula in subsequent Quarterly Noteholders’ Statements and (c) the Master Issuer or the Manager delivers written confirmation to the Trustee and the Control Party that the Rating Agency Condition with respect to each Series of Notes Outstanding has been satisfied with respect to such new formula. For the avoidance of doubt, the Weekly Management Fee may also be amended in accordance with the amendment provisions in Section 8.21.
Weekly Management Fee means for each Weekly Allocation Date within a Quarterly Collection Period, either (X) an amount, payable in arrears, determined by dividing (a) the sum (as adjusted pursuant to this definition) of (i) $26,500,000, plus (ii) $600,000 for every 100 Open Domino’s Stores located in the contiguous United States as of the last day of the immediately preceding Quarterly Collection Period; by (b) 52 or 53, as applicable, based on the number of weeks in the fiscal year; provided that the amount set forth in clause (a) will increase by 2% per annum on each anniversary of the Closing Date or, if the anniversary of the Closing Date in any calendar year is not the first day of a Quarterly Collection Period, on the first day of the Quarterly Collection Period immediately following the anniversary of the Closing Date; provided, further, that the amount in clause (a), as adjusted, shall not exceed an amount equal to 25% of the aggregate amount of Retained Collections with respect to the preceding four Quarterly Collection Periods or (Y) on and after the Implementation Date (as defined in the Second Amendment), an amount determined by another formula notified by the Master Issuer in writing to the Trustee and the Control Party; provided that (a) the Master Issuer or the Manager certifies to the Trustee and the Control Party that such other formula was determined in consultation with the Back-Up Manager, (b) after delivering such notification, the Master Issuer will disclose the then-applicable formula in subsequent Quarterly Noteholders’ Statements and (c) the Master Issuer or the Manager delivers written confirmation to the Trustee and the Control Party that the Rating Agency Condition with respect to each Series of Notes Outstanding has been satisfied with respect to such new formula. For the avoidance of doubt, the Weekly Management Fee may also be amended in accordance with the amendment provisions in Section 8.22.” 1 All modifications to existing provisions of the Agreement are indicated herein by adding the inserted text (indicated in the same manner as the following example: inserted text, deleted text).
Weekly Management Fee means, with respect to each Weekly Allocation Date, the amount determined by dividing: (i) an amount equal to the sum of (A) a base fee of $5,000,000, plus (B) a fee of $13,940 for every $100,000 of aggregate Retained Collections over the preceding four (4) most recently ended Quarterly Fiscal Periods; by (ii) 52 or 53, as applicable; provided, that the dollar amounts set forth in clause (i)(A) shall be subject to successive 2% annual increases on the first day of the first Quarterly Fiscal Period of the fiscal year of the Securitization Entities commencing with the Quarterly Fiscal Period beginning December 29, 2019; provided, further, that the incremental increased portion of such fees shall be payable only to the extent that the sum of the amounts set forth in clauses (i)(A) as so increased and (i)(B) shall not exceed 35% of the aggregate Retained Collections over the preceding four (4) Quarterly Fiscal Periods; provided, further, that for purposes of this definition, Retained Collections shall be deemed to be (i) with respect to the Quarterly Fiscal Period ending in December 2017, $17,383,987; (ii) with respect to the Quarterly Fiscal Period ending in March 2018, $18,635,701, (iii) with respect to the Quarterly Fiscal Period ending in June 2018, $18,187,223 and (iv) with respect to the Quarterly Fiscal Period ending in September 2018, $19,302,869. Retained Collections for the Quarterly Fiscal Period ending December 29, 2018 shall include the Manager’s good faith estimate (in accordance with the Managing Standard) of what Retained Collections would have been for such Quarterly Fiscal Period through the Closing Date, based on items that would otherwise have constituted Retained Collections actually received by the Manager during such Quarterly Fiscal Periods through the Closing Date. The Weekly Management Fee may be amended at the request of the Issuer subject to approval by the Control Party and satisfaction of the Rating Agency Condition. 10 “WRI”: has the meaning set forth in the preamble.
Weekly Management Fee set forth in Section 1.1 thereof in its entirety, as follows: