Limitation on Expenses. (a) Within 60 days after the end of any fiscal quarter, if Operating Expenses of the Company during the 12-month period ending with the last month of such quarter exceed the greater of (i) two percent of the Average Invested Assets during the same 12-month period or (ii) 25% of the Adjusted Net Income of the Company during the same 12-month period, then subject to paragraph (b) of this Section 13, such excess amount shall be the sole responsibility of the Advisor and the Company shall not be liable for payment therefor.
Appears in 9 contracts
Samples: Form of Advisory Agreement (CPA:14 Holdings Inc.), Advisory Agreement (Carey W P & Co LLC), Advisory Agreement (Carey W P & Co LLC)
Limitation on Expenses. (a) Within 60 days after the end of any fiscal quarter, if If Operating Expenses of the Company during the 12-month period ending with on the last month day of such any fiscal quarter of the Company exceed the greater of (i) two percent of the Average Invested Assets during the same 12-month period or (ii) 25% of the Adjusted Net Income of the Company during the same 12-month period, then subject to paragraph (b) of this Section 13, such excess amount shall be the sole responsibility of the Advisor and the Company shall not be liable for payment therefor.
Appears in 8 contracts
Samples: Advisory Agreement (Corporate Property Associates 16 Global Inc), Advisory Agreement (Carey W P & Co LLC), Advisory Agreement (Corporate Property Associates 14 Inc)
