Management and Other Fees Clause Samples
The 'Management and Other Fees' clause defines the types and amounts of fees that a party, typically a manager or service provider, is entitled to receive for their services under the agreement. It outlines how these fees are calculated—such as a fixed monthly amount, a percentage of assets managed, or based on specific milestones—and may also specify when and how payments are to be made. This clause ensures transparency and clarity regarding compensation, helping to prevent disputes over payment expectations and obligations.
Management and Other Fees. (a) In consideration of the Services being rendered by the Managers, the Company will pay, or will cause to be paid, to the Managers an aggregate annual non-refundable and irrevocable management fee (the “Management Fee”) of $3,000,000, payable in quarterly installments in arrears at the end of each calendar quarter, subject to adjustment from time to time as set forth below. The initial Management Fee shall be pro rated to reflect the portion of the current calendar year which has elapsed prior to the Closing Date. The Management Fee shall be apportioned such that each Manager shall receive 50% of the Management Fee (including each installment payment thereof).
(b) In the event the Company or any of its subsidiaries enters into a business combination transaction with another entity that is large enough to constitute a “significant subsidiary” of the Company under any of the relevant tests contained in Regulation S-X as promulgated by the Securities and Exchange Commission, the Company and the Managers will mutually agree, following good faith negotiations, on an appropriate increase in the Management Fee as warranted by the increase in the consolidated size of the Company. Such increase in the Management Fee will be pro rated on the basis of the number of days elapsed in the then applicable quarter in which such transaction is consummated.
(c) To the extent the Company cannot pay, or cause to be paid, the Management Fee for any reason, including by reason of any prohibition on such payment pursuant to any applicable law or the terms of any agreement or indenture governing indebtedness of the Company or its subsidiaries, the payment by the Company or any of its subsidiaries to the Managers of the accrued and payable Management Fee will be deferred and will be payable immediately on the earlier of (i) the first date on which the payment of such deferred Management Fee is no longer prohibited under any such agreement or indenture applicable to the Company and the Company or its subsidiaries, as applicable, is otherwise able to make such payment, or cause such payment to be made and (ii) total or partial liquidation, dissolution or winding up of the Company. Notwithstanding anything to the contrary herein, under any applicable law or under any contract applicable to the Company or its subsidiaries, any forbearance of collection of the Management Fee by either Manager shall not be deemed to be a subordination of such payments to any other person, entity or cre...
Management and Other Fees. (a) As compensation for the management services to be performed by Kin Risk Management as Attorney-in-Fact on behalf of KIN as set forth in Section 2 above, KIN agrees that Kin Risk Management is authorized to retain the following percentages of annual gross written premiums:
( i ) for underwriting and marketing management services provided to KIN, Kin Risk Management will receive as compensation an amount equal to seventeen percent (17%) of the annual gross premium written by KIN.
(ii) for services provided in the servicing and management of claims, Kin Risk Management will receive as compensation an amount equal to five percent (5%) of the annual gross premium written by KIN.
(b) The percentages set forth in Section 3(a) above may be adjusted at any time as agreed to by both KIN and Kin Risk Management, subject to the written approval of the Florida Office of Insurance Regulation. However, the underwriting and marketing fees set forth in Section 3(a)(i) shall never be below 10% or above 20% of annual gross premium. Any changes to the percentages will be disclosed, in advance, to the Subscribers. Kin Risk Management will refund to KIN any unearned subscribers fees on a pro-rata basis for cancelled policies.
Management and Other Fees. Members are responsible for payment of all maintenance and other fees payable by the person to his Home Resort or Home Group in respect of the Accommodation deposited or ceded by such Member into the Network and the Network Administrator reserves the right to suspend or cancel Reservations (or the right of such Member to make Reservations) in the event that it is informed by the applicable Home Resort or Home Group that such fees are unpaid.
Management and Other Fees. (a) As compensation for the management services to be performed by the AIF as Attorney-in-Fact on behalf of the Exchange, as set forth in Section 2 above, the Exchange agrees that the AIF is authorized to retain the following percentages of annual gross written premiums:
(i) underwriting and marketing management services provided to the Exchange, the AIF will receive as compensation an amount equal to seventeen percent (17%) of the annual gross premium written by the Exchange.
(ii) claims management services for non-catastrophic claims pursuant to the attached Claims Service Fee Schedule, plus an amount equal to three percent (3%) of the annual gross premium written by the Exchange
(iii) claims management services for catastrophic claims pursuant to the attached Claims Service Fee Schedule.
(b) The percentages set forth in Section 3(a) above may be adjusted at any time as agreed to by both the Exchange and the AIF, subject to the written approval of the Office.
(c) At the sole discretion of the AIF, the AIF may waive fees from the Exchange as a method to build or maintain surplus in the Exchange.
Management and Other Fees. (a) As compensation for the management services to be performed by the AIF as Attorney-in-Fact on behalf of the Exchange, as set forth in Section 2 above, the Exchange agrees that the AIF is authorized to retain the following percentages of annual gross written premiums:
(i) underwriting and marketing management services provided to the Exchange, the AIF will receive as compensation an amount equal to seventeen percent (17%) of the annual gross premium written by the Exchange.
(ii) claims management services for non-catastrophic claims pursuant to the attached Claims Service Fee Schedule, plus an amount equal to three percent (3%) of the annual gross premium written by the Exchange
(iii) claims management services for catastrophic claims pursuant to the attached Claims Service Fee Schedule.
(b) The percentages set forth in Section 3(a) above may be adjusted at any time as agreed to by both the Exchange and the AIF, subject to the written approval of the Louisiana Department of Insurance.
(c) At the sole discretion of the AIF, the AIF may waive fees from the Exchange as a method to build or maintain surplus in the Exchange.
Management and Other Fees. 6.1. MANAGER shall receive a fixed management fee (“Management Fee”) as compensation for Property Management Services performed for DISTRICT under this Agreement. In addition to all services expressly required by this Agreement, Property Management Services shall include monthly and other periodic meetings with DISTRICT regarding integration or consideration of the Santa Ana River Mainstem Project construction, environmental responsibilities, recreation planning activities, and Prado Dam operations in relation to providing Property Management Services. Such meetings, discussion and any corresponding preliminary analysis by MANAGER is considered part of MANAGER’S obligations under this Agreement, in addition to routine responsibility to facilitate improved golf operation and revenues resulting from MANAGER’S Property Management practices.
6.2. In addition to the Management Fee, the Director may authorize extra work (“Extra Work”) assignments to MANAGER as described in Clause 7., herein.
6.3. The Management Fee shall be as follows: Time Period Total Annual Amount Monthly Payment During first 12 months $162,500.00 $13,541.67 During second 12 months $16750000 $13,958.33 During third 12 months $172,500.00 $14,375.00 During fourth 12 months $177,500.00 $14,791.67 During fifth 12 months* $182,500.00 $15,208.33 *(if two year extension authorized by Board) The Management Fee shall be directly paid to MANAGER by DISTRICT, starting thirty (30) days after Board approval of this Agreement in equal monthly increments, except when withheld due to non-compliance, and/or audits and reconciliations as specified in this Agreement, including the Concession Agreement. The Management Fee shall be as follows: Time Period Total Annual Amount Monthly Payment During first 12 months $162,500.00 $13,541.67 During second 12 months $167,500.00 $13,958.33 During third 12 months $172,500.00 $14,375.00 During fourth 12 months $177,500.00 $14,791.67 During fifth 12 months $182,500.00 $15,208.33 During sixth 12 months $160,000.00 $13,333.33 During seventh 12 months $165,000.00 $13,750.00 During eighth 12 months $170,000.00 $14,166.67 The Management Fee shall be directly paid to MANAGER by DISTRICT, starting thirty (30) days after Board approval of this Agreement in equal monthly increments, except when withheld due to non-compliance, and/or audits and reconciliations as specified in this Agreement, including the Concession Agreement. The Management Fee shall be as follows: Time Period Total...
Management and Other Fees. The Owner and the Manager agree and covenant that the following provisions will govern the computation and distribution of rental income: 管理及其他费用｡ 业主及管理人员同意及约定以下条款将支配租赁收入的计算及分配｡
Management and Other Fees. The Stockholders Agreement is hereby amended by replacing Section 3.6 thereof with the following Section:
Management and Other Fees. 7.1. The Borrower shall pay to the Lender a Management Fee at the rate specified in the Special Conditions. The fee shall be calculated daily on the original Loan Amount specified in the Special Conditions and on the basis of thirty (30) day month and three hundred sixty (360) day year, as of the date the Loan Amount is disbursed by the Lender to the Borrower until the Borrower has fully paid to the Lender all his/her financial liabilities arising from the Loan Agreement, i.e. in the event of termination or withdrawal also after the arrival of the due date and/or expiry of the Loan Agreement.
7.2. The Management Fee shall be included in the Monthly Repayment Amount indicated in the Special Conditions and shall be paid once a month on the due date of Monthly Repayments set forth in the Special Conditions.
7.3. The Borrower shall pay to the Lender the Contract Fee in the amount specified in the Special Conditions. The fee shall be deducted from the Loan Amount before it is disbursed to the Borrower in accordance with Section 4.1.
7.4. Upon using an additional product or service provided by the Lender, the Borrower shall pay the Lender a fee in accordance with the Price List available on the Lender’s website. All such fees shall be payable by the Borrower to the Lender in accordance with the relevant notice made available to the Borrower on the Portal within the payment period specified therein.
Management and Other Fees. Members are responsible for payment of all maintenance and other taxes and/or fees payable in respect of the Accommodation Deposited by such Member into the Club and the Club Administrator reserves the right to suspend or cancel Reservations (or the right of such Member to make Reservations) in the event that such fees are unpaid.