Hotel Facility - Incentive Management Fee Sample Clauses

Hotel Facility - Incentive Management Fee. In addition to the Hotel Base Management Fee and the Hotel Subordinated Base Management Fee, and in consideration of the services to be performed during the term of this Agreement with respect to the Hotel Facility, Management Company shall be paid for each Fiscal Year (or partial Fiscal Year), subject to Section 6.04 B, an incentive fee ("Hotel Incentive Fee") equal to the sum of: (i) thirty (30%) percent by which the amount of Operating Profit of the Hotel Facility for such Fiscal Year (or partial Fiscal Year) exceeds $3,250,000.00 up to $3,750,000.00, prorated for any partial Fiscal Year; plus (ii) thirty-five (35%) by which the amount of Operating Profit of the Hotel Facility for such Fiscal Year (or partial Fiscal Year) exceeds $3,750,00.00 up to $4,250,000.00, prorated for any partial Fiscal Year; plus (iii) forty (40%) by which the amount of Operating Profit of the Hotel Facility for such Fiscal Year (or partial Fiscal Year) exceeds $4,250,000.00, prorated for any partial Fiscal Year. Notwithstanding the foregoing to the contrary, Management Company shall not be entitled to receive any portion of the Hotel Incentive Fee in any Fiscal Year with respect to which Operating Profit of the Hotel Facility has not equaled or exceeded the respective threshold amounts set forth in this subsection A. (For example purposes only, if Operating Profit of the Hotel Facility for a given Fiscal Year is $4,000,000.00, Management Company would receive a Hotel Incentive Fee equal to 30% of $500,000.00 ($3,250,000.00 up to 3,750,000.00) plus 35% of $250,000.00 ($3,750,000.00 to $4,000,000.00).) 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 A 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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Related to Hotel Facility - Incentive Management Fee

  • Construction Management Fee The Construction Management Fee for the Project shall be either a ☒Lump Sum or ☐Not-To-Exceed Fee of Fifty-One Thousand, Four Hundred Fifty-Six Dollars and Twenty-Three Cents ($51,456.23). NOTE: Allowances will be on a Not-To-Exceed basis. All unused funds will be returned to the School District at the time of construction closeout. Fee will be paid only on cost of work for these items. Exhibit C- Project Assignment Page 2 of 4

  • VENDOR MANAGEMENT FEE Contractor shall pay to Enterprise Services a vendor management fee (“VMF”) of 1.5 percent on the purchase price for all Master Contract sales (the purchase price is the total invoice price less applicable sales tax).

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  • PERFORMANCE MANAGEMENT SYSTEM 5.1 The Employee agrees to participate in the performance management system that the Employer adopts or introduces for the Employer, management and municipal staff of the Employer.

  • Construction Management Plan Contractor shall prepare and furnish to the Owner a thorough and complete plan for the management of the Project from issuance of the Proceed Order through the issuance of the Design Professional's Certificate of Material Completion. Such plan shall include, without limitation, an estimate of the manpower requirements for each trade and the anticipated availability of such manpower, a schedule prepared using the critical path method that will amplify and support the schedule required in Article 2.1.5 below, and the Submittal Schedule as required in Article 2.2.3. The Contractor shall include in his plan the names and resumés of the Project Superintendent, Project Manager and the person in charge of Safety.

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