Incentive Management Fees. In addition to the Base Management Fee and in consideration of the services to be performed during the Term of this Agreement, Management Company shall be paid for each Fiscal Year (or partial Fiscal Year), subject to Section 6.02 B, an incentive fee (“Incentive Fee”) equal to fifteen percent (15%) of the amount by which Operating Profit for such Fiscal Year (or partial Fiscal Year) exceeds TRS's Priority (prorated for any partial Fiscal Year). Notwithstanding the foregoing to the contrary, Management Company shall not be entitled to receive any Incentive Fee in any Fiscal Year with respect to which the distributions to TRS have not equaled or exceeded TRS's Priority.
Incentive Management Fees. Manager hereby assigns its right to receive from TRS an Incentive Fee, if any, pursuant to Section 6.01 B of the Management Agreement.
Incentive Management Fees. In addition to the Base Management Fee and in consideration of the services to be performed during the term of this Agreement, Management Company shall be paid for each Fiscal Year (or partial Fiscal Year), subject to Section 6.02 B, an incentive fee ("Incentive Fee") equal to fifteen percent (15%) of the amount by which Operating Profit for such Fiscal Year (or partial Fiscal Year) exceeds Owner's Priority (prorated for any partial Fiscal Year). Notwithstanding the foregoing to the contrary, Management Company shall not be entitled to receive any Incentive Fee in any Fiscal Year with respect to which the distributions to Owner have not equaled or exceeded Owner's Priority.
Incentive Management Fees. In addition to the Base Management Fee and in consideration of the services to be performed during the term of this Agreement, the Lessee shall pay to the Manager for each Year (or partial Year), an incentive fee ("Incentive Management Fee"), at the times and in the amounts designated on Schedule I.
Incentive Management Fees. 35 5.3. Fee Adjustment....................................................................... 35 5.4. Subordination of Incentive Management Fees........................................... 35 5.4.1. Subordination................................................................. 35 5.4.2.
Incentive Management Fees. Subject to the provisions of Section 5.3 and 5.4 of this agreement, for each Fiscal Year during the term of this agreement, the Partnership shall pay Manager an incentive management fee (the "Incentive Management Fee") of ten (10%) percent of Resort Operating Profits (as hereinafter defined), which Incentive Management Fee shall be payable annually on the earlier to occur of (a) five days after the Partnership's receipt of audited financial statements for such Fiscal Year or (b) 120 days after the end of such Fiscal Year.
Incentive Management Fees. Any Incentive Management Fee and Contingent Incentive Management Fee the payment of which is based on Operating Profit shall, in each Fiscal Year (and with respect to each Accounting Period within each such Fiscal Year, as more particularly described in Section 5.05 hereof), be payable in accordance with the following sequence of computations, and no Incentive Management Fee shall be paid until sufficient Operating Profit is available for actual payment thereof:
Incentive Management Fees. In addition to the Base Management Fee and in consideration of the services to be performed during the Term of this Agreement, Management Company shall be paid for each Fiscal Year (or partial Fiscal Year), subject to Section 6.02 B, an incentive fee (“Incentive Management Fee”) equal to fifteen percent (15%) of the amount by which Operating Profit for such Fiscal Year (or partial Fiscal Year) minus the amount of any ground lease rentals or other rental payments pursuant to any ground lease in connection with the Hotel (but not including rental payments made pursuant to the Lease Agreement) paid by Owner from its own funds (and not from Gross Revenues or the Reserve) during the same time period exceeds Owner’s Priority (prorated for any partial Fiscal Year). Notwithstanding the foregoing to the contrary, Management Company shall not be entitled to receive any Incentive Management Fee in any Fiscal Year with respect to which the distributions to Owner have not equaled or exceeded Owner’s Priority.
Incentive Management Fees. 10 Indebtedness.......................................................... 10
Incentive Management Fees. Subject to the provisions of Sections 5.4 and 5.5 of this Agreement, for each Fiscal Year during the term of this Agreement, Owner shall pay Manager an incentive management fee (the "Incentive Management Fee") of twelve (12%) percent of Hotel and Casino Gross Operating Profits (as hereinafter defined in Section 5.7), which Incentive Management Fee shall be payable annually on the earlier to occur of (a) five days after receipt of audited financial statements for such Fiscal Year or (b) 120 days after the end of such Fiscal Year.
