Extended Transition Service Amount After Initial Transition Service Period Sample Clauses

The "Extended Transition Service Amount After Initial Transition Service Period" clause defines the terms and costs associated with continuing transition services beyond the originally agreed-upon period. Typically, this clause specifies how fees for extended services will be calculated, such as through predetermined rates or negotiated adjustments, and may outline the process for requesting and approving such extensions. Its core function is to provide a clear framework for both parties to manage and budget for additional support if the transition process takes longer than expected, thereby reducing uncertainty and potential disputes over service continuation and associated costs.
Extended Transition Service Amount After Initial Transition Service Period. (Payment Of Management Fee After Initial Transition Service Period): PropCo with the consent of the Mortgage Lenders, or the Mortgage Lenders on its behalf, may request a ninety (90) day (or shorter) extension of the Initial Transition Service Period (such period, the “Extended Transition Service Period”), during which period SCI shall continue to be obligated to provide Transition Services as provided herein, provided that any such request shall be made in writing to SCI (with a copy to the Prepetition Agent) not less than ten (10) business days prior to the end of the Initial Transition Service Period. During the Extended Transition Services Period, PropCo shall, beginning with the first day following the Initial Transition Service Period, pay to SCI, as consideration for SCI providing the Transition Services during the Extended Transition Service Period (such Transition Services, the “Extended Transition Services”), for each calendar month or partial calendar month during which SCI is providing Transition Services (beginning with the first day of the Extended Transition Service Period), an amount that is equal to the sum of (i) a management fee that consists of the sum of both (x) two percent (2%) of aggregate gross revenue, to be computed in the manner set forth in Exhibit D, of the Leased Hotels and (y) five percent (5%) of EBITDAR of the Leased Hotels (calculated in the same manner used to calculate Reduced Rent but as reduced by the management fee payable under clause (x) above) in each case during such full or partial calendar month (the sum of (i) and (ii), with (ii) including both (x) and (y) being the “Extended Transition Service Amount”; and all such amounts to constitute an administrative claim in PropCo’s bankruptcy case pursuant to section 503(b) of the Bankruptcy Code). For the avoidance of doubt, such fee is in excess of all expenses included in the calculation of EBITDAR which SCI is entitled to retain as reimbursement for its services. For each calendar month or partial calendar month during which SCI is providing Extended Transition Services (the “Billing Period”), the applicable EBITDAR of the Leased Hotels shall be the aggregate EBITDAR amount computed by SCI for the Leased Hotels for the full calendar month immediately preceding the first day of the applicable Billing Period, provided that (i) the Extended Transition Service Amount shall only be earned if active management services for the Leased Hotels are being provided by SCI or t...
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Extended Transition Service Amount After Initial Transition Service Period. (Payment Of Management Fee After Initial Transition Service Period):
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Related to Extended Transition Service Amount After Initial Transition Service Period

  • Contract Transition Upon Contract expiration or termination, the Contractor shall ensure a seamless transfer of Contract responsibilities with any subsequent Contractor necessary to transition the Products and services of the Contract. The incumbent Contractor assumes all expenses related to the contract transition.

  • Transition Period Due to the nature of our purchasing process, the District often requires an existing service provider to continue to provide goods and/or services while the District is in the process of advertising, evaluating, and awarding a contract for the provision of the same goods and/or services in the future. To accommodate this process, the Contractor shall agree to maintain the same terms and conditions set forth in this Agreement for a period up to ninety (90) days after the automatic termination of this Agreement at the end of its term, if requested by the District, as a transition period. In addition, if the Contractor is not the successful bidder for a future solicitation for the same or similar services, he or she shall agree to provide the same goods and/or services provided in this Agreement for a period up to ninety (90) days to allow for an orderly transition to the new provider. The District and the Contractor may mutually agree to a longer transition period.

  • Service Term XOOM agrees to act as your exclusive natural gas supplier and will provide competitive retail natural gas service to you. The term of this Contract will begin when your local utility switches your account to XOOM and will continue for the Contract Term set forth in the accompanying Product Sheet.

  • Service Period The Service Period of this Agreement is for 1 year in respect of the unit and starts on the Start Date as defined in the Terms and Conditions, or, in the case of an extension of renewal of the provision of Support Services, starts on the date of payment of the Charges.

  • Transition Services Agreement Seller shall have executed and delivered the Transition Services Agreement.