Fee Offset Clause Samples
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Fee Offset. In the event the Company incurs, accrues or otherwise suffers any losses under GAAP (“Losses”) as a result of the Manager’s (i) failure to materially adhere to the Company’s Guidelines or (ii) material breach of any term or condition hereof, without limiting any other rights and remedies the Company may have in law or in equity against the Manager, any Management Fee that would otherwise be due and owing hereunder (whether accrued and unpaid or in the future) shall be offset against the amount of such Losses on a dollar for dollar basis.
Fee Offset. Beginning on the Offset Start Date, subject to the terms hereof, the Adviser agrees to provide a Management Fee Offset and Incentive Fee Offset (collectively, the “Fee Offset”) to the Company. The amount of the Fee Offset shall initially be 20% of the management fee revenue earned and incentive fee revenue realized, respectively, by the Adviser and its affiliates in connection with managing any aircraft assets in the Included Funds. Once the aggregate of the capital raised by the New Aircraft Funds or New Managed Accounts and capital invested by the New Balance Sheet Investments exceeds $3 billion cumulatively, the amount of the Fee Offset shall be 10% of the amount of incremental management fee revenue earned and incentive fee revenue realized, respectively, by the Adviser and its affiliates. The Fee Offset will be calculated and paid on a quarterly basis in arrears, with the Management Fee Offset and Incentive Fee Offset calculations detailed further in paragraph three (3).