Conference Center Facility - Incentive Management Fee Sample Clauses

Conference Center Facility - Incentive Management Fee. In addition to the Conference Center Base Management Fee and the Conference Center Subordinated Base Management Fee, and in consideration of the services to be performed during the term of this Agreement with respect to the Conference Center Facility, Management Company shall be paid for each Fiscal Year (or partial Fiscal Year), subject to Section 6.04 B, an incentive fee ("Conference Center Incentive Fee") equal to the sum of: (i) twenty-five (25%) percent of the initial $100,000.00 of Operating Profit, prorated for any partial Fiscal Year, of the Conference Center Facility for such Fiscal Year (or partial Fiscal Year); plus (ii) thirty (30%) of Operating Profit of the Conference Center Facility for such Fiscal Year (or partial Fiscal Year) between $100,000.00 and $350,000.00, prorated for any partial Fiscal Year; plus, (iii) thirty-five (35%) of Operating Profit of the Conference Center Facility for such Fiscal Year (or partial Fiscal Year) which exceeds $350,000.00, prorated for any partial Fiscal Year. Notwithstanding the foregoing to the contrary, Management Company shall not be entitled to receive any portion of the Conference Center Incentive Fee in any Fiscal Year with respect to which Operating Profit of the Conference Center Facility has not equaled or exceeded the threshold amounts set forth in this subsection B. (For example purposes only, if Operating Profit of the Conference Center Facility for a given Fiscal Year is $400,000.00, Management Company would receive a Conference Center Incentive Fee equal to 25% of the first $100,000.00 plus 30% of the next $250,000.00 plus 35% of the last $50,000.00.) Commencing on the first day of the sixth (6th) full Fiscal Year after the Management Commencement Date, the respective dollar threshold amounts set forth in this subsection B shall each be adjusted annually (and for each subsequent Fiscal Year) by the Consumer Price Index and any such adjustment(s) shall be stated in the Annual Operating Projection for the related Fiscal Year.
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