Base Management Fee. The base management fee (“Base Management Fee”) shall be equal to the greater of (i) $12,673.48 (to be increased annually based on any increases in CPI over the preceding annual period), or (ii) three percent (3%) of the Gross Revenues for each Accounting Period, to be paid monthly in arrears. If this Agreement shall commence or expire on other than the first and last day of a calendar month, respectively, the Base Management Fee shall be apportioned based on the actual number of days of service in the month.
Appears in 4 contracts
Samples: Management Agreement (Ashford Hospitality Prime, Inc.), Management Agreement (Ashford Hospitality Prime, Inc.), Development Agreement (Ashford Hospitality Prime, Inc.)
Base Management Fee. The base management fee (“Base Management Fee”) shall be equal to the greater of (i) $12,673.48 10,000 (to be increased annually based on any increases in CPI over the preceding annual period), or (ii) three percent (3%) of the Gross Revenues for each Accounting Period, to be paid monthly in arrears. If this Agreement shall commence or expire on other than the first and last day of a calendar month, respectively, the Base Management Fee shall be apportioned based on the actual number of days of service in the month.
Appears in 2 contracts
Samples: Hotel Master Management Agreement (Ashford Hospitality Trust Inc), Hotel Master Management Agreement (Ashford Hospitality Trust Inc)
Base Management Fee. The base management fee (“Base Management Fee”) shall be equal to the greater of (i) $12,673.48 13,504 (to be increased annually based on any increases in CPI over the preceding annual period), or (ii) three percent (3%) of the Gross Revenues for each Accounting Period, to be paid monthly in arrears. If this Agreement shall commence or expire on other than the first and last day of a calendar month, respectively, the Base Management Fee shall be apportioned based on the actual number of days of service in the month.
Appears in 2 contracts
Samples: Hotel Master Management Agreement (Ashford Hospitality Trust Inc), Management Agreement (Braemar Hotels & Resorts Inc.)
Base Management Fee. The base management fee (“Base Management Fee”) shall be equal to the greater of (i) $12,673.48 16,897.11 (to be increased annually based on any increases in CPI over the preceding annual period), or (ii) three percent (3%) of the Gross Revenues for each Accounting Period, to be paid monthly in arrears. If this Agreement shall commence or expire on other than the first and last day of a calendar month, respectively, the Base Management Fee shall be apportioned based on the actual number of days of service in the month.
Appears in 2 contracts
Samples: Hotel Master Management Agreement (Ashford Hospitality Trust Inc), Hotel Master Management Agreement (Ashford Inc.)
Base Management Fee. The base management fee (“Base Management Fee”) shall be equal to the greater of (i) $12,673.48 $ 16,897.11 (to be increased annually based on any increases in CPI over the preceding annual period), or (ii) three percent (3%) of the Gross Revenues for each Accounting Period, to be paid monthly in arrears. If this Agreement shall commence or expire on other than the first and last day of a calendar month, respectively, the Base Management Fee shall be apportioned based on the actual number of days of service in the month.
Appears in 1 contract
Samples: Hotel Master Management Agreement (Stirling Hotels & Resorts, Inc.)
Base Management Fee. The base management fee (“Base Management Fee”"BASE MANAGEMENT FEE") shall be equal to the greater of (i) $12,673.48 10,000 (to be increased annually based on any increases in CPI over the preceding annual period), or (ii) three percent (3%) of the Gross Revenues for each Accounting Period, to be paid monthly in arrears. If this Agreement shall commence or expire on other than the first and last day of a calendar month, respectively, the Base Management Fee shall be apportioned based on the actual number of days of service in the month.
Appears in 1 contract
Samples: Master Management Agreement (Ashford Hospitality Trust Inc)
