Common use of Manager’s Remuneration Clause in Contracts

Manager’s Remuneration. The annual remuneration of the Manager for the performance of its duties hereunder shall be 10% of the total annual expenditure costs and charges (excluding the Manager’s remuneration and any capital expenditure or expenditure drawn out of the Special Fund) reasonably and necessarily incurred in the management of the Lot and the Development or any portion of the Lot and the Development. The Manager’s remuneration shall be the net remuneration of the Manager for its services as Manager and shall not include the costs, expenses and fees for any staff, facilities, legal, professional, accounting and administration services and all disbursements and out-of-pocket expenses properly incurred in the course of carrying out its duties hereunder which said costs, expenses, fees and disbursements shall be a direct charge on the management funds. Payment of the Manager’s remuneration hereunder shall be in advance by twelve equal calendar monthly instalments each such payment to be in the sum of one twelfth of the annual remuneration of the Manager being 10% of the estimated total annual expenditure for the management of the Lot and the Development (excluding the Manager’s remuneration and the capital expenditure as aforesaid) payable by the Owners according to the annual budget or revised budget for the year in question to be prepared as provided in Clauses 14 to 16 hereof and any adjustment payment or deduction that needs to be made to bring the amount paid to the Manager by way of remuneration for the year in question to the correct amount for such year will be made within twenty-one (21) days from the completion of the auditing of the management accounts for such year as provided in Clause 35 hereof Provided always that by a resolution of Owners at an Owners’ meeting convened under this Deed, any capital expenditure or expenditure drawn out of the Special Fund may be included for calculating the Manager’s remuneration at the rate as provided under this Clause, or at such lower rate as the Owners may consider appropriate. No variation of the percentage of the annual remuneration of the Manager may be made except with the approval by a resolution of Owners duly passed at a meeting of Owners convened under this Deed.

Manager’s Remuneration. The annual remuneration of the Manager for the performance of its duties hereunder shall be not exceed 10% of the total annual expenditure costs and charges (excluding the Manager’s remuneration and any capital expenditure or expenditure drawn out of the Special Fund) reasonably and necessarily incurred in the management of the Lot and the Development or any portion of the Lot and the Development. The Manager’s remuneration shall be the net remuneration of the Manager for its services as Manager and shall not include the costs, expenses and fees for any staff, facilities, legal, professional, accounting and administration services and all disbursements and out-of-of- pocket expenses properly incurred in the course of carrying out its duties hereunder which said costs, expenses, fees and disbursements shall be a direct charge on the management funds. Payment of the Manager’s remuneration hereunder shall be in advance by twelve equal calendar monthly instalments instalments, each such payment to be in the sum of one twelfth of the annual remuneration of the Manager being not exceeding 10% of the estimated total annual expenditure for the management of the Lot and the Development (excluding the Manager’s remuneration and the capital expenditure or expenditure drawn out of the Special Fund as aforesaid) payable by the Owners according to the annual budget or revised budget for the year in question to be prepared as provided in Clauses 14 to 14-16 hereof and any adjustment payment or deduction that needs to be made to bring the amount paid to the Manager by way of remuneration for the year in question to the correct amount for such year will be made within twenty-one (21) days from the completion of the auditing of the management accounts for such year as provided in Clause 35 hereof Provided always that PROVIDED ALWAYS THAT by a resolution of Owners at an Owners’ meeting convened under this Deed, any capital expenditure or expenditure drawn out of the Special Fund may be included for calculating the Manager’s remuneration at the rate as provided under this Clause, or at such lower rate as the Owners may consider appropriate. No variation of the percentage of the annual remuneration of the Manager may be made except with the approval by a resolution of Owners duly passed at a meeting of Owners convened under this Deed.

Manager’s Remuneration. The annual remuneration of the Manager for the performance of its duties hereunder shall be 10% of the total annual expenditure expenses costs and charges (excluding the Manager’s remuneration and any capital expenditure or expenditure drawn out of the Special Fund) reasonably and necessarily incurred in the management of the Lot and the Development or any portion of the Lot and the Development. The Manager’s remuneration shall be the net remuneration of the Manager for its services as Manager and shall not include the costs, expenses and fees for any staff, facilities, legal, professional, accounting and administration services and all disbursements and out-of-pocket expenses properly incurred in the course of carrying out its duties hereunder which said costs, expenses, fees and disbursements shall be a direct charge on the management funds. Payment of the Manager’s remuneration hereunder shall be in advance by twelve equal calendar monthly instalments each such payment to be in the sum of one twelfth of the annual remuneration of the Manager being 10% of the estimated total annual expenditure for the management of the Lot and the Development (excluding the Manager’s remuneration and the capital expenditure or expenditure drawn out of the Special Fund as aforesaid) payable by the Owners according to the annual budget or revised budget for the year in question to be prepared as provided in Clauses 14 to 16 hereof and any adjustment payment or deduction that needs to be made to bring the amount paid to the Manager by way of remuneration for the year in question to the correct amount for such year will be made within twenty-one (21) days from the completion of the auditing of the management accounts for such year as provided in Clause 35 hereof Provided always that by a resolution of Owners at an Owners’ meeting convened under this Deed, any capital expenditure or expenditure drawn out of the Special Fund may be included for calculating the Manager’s remuneration at the rate as provided under this Clause, or at such lower rate as the Owners may consider appropriate. No variation of the percentage of the annual remuneration of the Manager may be made except with the approval by a resolution of Owners duly passed at a meeting of Owners convened under this Deed.

Manager’s Remuneration. The annual remuneration of the Manager for the performance of its duties hereunder shall be 10% of the total annual expenditure costs and charges (excluding the Manager’s 's remuneration and any capital expenditure or expenditure drawn out of the Special Fund) reasonably and necessarily incurred in the management of the Lot and the Development or any portion of the Lot and the Development. The Manager’s 's remuneration shall be the net remuneration of the Manager for its services as Manager and shall not include the costs, expenses and fees for any staff, facilities, legal, professional, accounting and administration services and all disbursements and out-of-of- pocket expenses properly incurred in the course of carrying out its duties hereunder which said costs, expenses, fees and disbursements shall be a direct charge on the management funds. Payment of the Manager’s 's remuneration hereunder shall be in advance by twelve equal calendar monthly instalments each such payment to be in the sum of one twelfth of the annual remuneration of the Manager being 10% of the estimated total annual expenditure for the management of the Lot and the Development (excluding the Manager’s 's remuneration and the any capital expenditure as aforesaidor expenditure drawn out of the Special Fund) payable by the Owners according to the annual budget or revised budget for the year in question to be prepared as provided in Clauses 14 to 16 hereof 16-18 and any adjustment payment or deduction that needs to be made to bring the amount paid to the Manager by way of remuneration for the year in question to the correct amount for such year will be made within twenty-one (21) days from the completion of the auditing of the management accounts for such year as provided in Clause 35 hereof 38 Provided always that by a resolution of Owners at an Owners’ ' meeting convened under this Deed, any capital expenditure or expenditure drawn out of the Special Fund may be included for calculating the Manager’s 's remuneration at the rate as provided under this Clause, or at such lower rate as the Owners may consider appropriate. No variation of the percentage of the annual remuneration of the Manager may be made except with the approval by a resolution of Owners duly passed at a meeting of Owners convened under this Deed.

Manager’s Remuneration. The annual remuneration of the Manager for the performance of its duties hereunder shall be not exceed ten per cent (10% %) of the total annual expenditure costs and charges Management Expenses (excluding the Manager’s remuneration and any capital expenditure or expenditure drawn out of the Special Fund) reasonably and necessarily incurred in the management of the Lot and the Development or any portion of the Lot and the Development. The Manager’s remuneration shall be the net remuneration of the Manager for its services as Manager and shall not include the costs, expenses and fees for any staff, facilities, legal, professional, accounting and administration services and all disbursements and out-of-pocket expenses properly incurred in the course of carrying out its duties hereunder which said costs, expenses, fees and disbursements shall be a direct charge on the management funds. Payment of the Manager’s remuneration hereunder shall be in advance by twelve (12) equal calendar monthly instalments instalments, each such payment to be in the sum of one twelfth (1/ th) of the annual remuneration of the Manager being not exceeding ten per cent (10% %) of the estimated total annual expenditure for the management of the Lot and the Development Management Expenses (excluding the Manager’s remuneration and the capital expenditure or expenditure drawn out of the Special Fund as aforesaid) payable by the Owners according to the annual budget or revised budget for the year in question to be prepared as provided in Clauses 14 to 16 4.5-4.8 hereof and any adjustment payment or deduction that needs to be made to bring the amount paid to the Manager by way of remuneration for the year in question to the correct amount for such year will be made within twenty-one (21) days from the completion of the auditing of the management accounts for such year as provided in Clause 35 4.27 hereof Provided always that PROVIDED ALWAYS THAT by a resolution of Owners at an Owners’ meeting convened under this Deed, any capital expenditure or expenditure drawn out of the Special Fund may be included for calculating the Manager’s remuneration at the rate as provided under this Clause, or at such lower rate as the Owners may consider appropriate. No variation of the percentage of the annual remuneration of the Manager may be made except with the approval by a resolution of Owners duly passed at a meeting of Owners convened under this Deed.

Manager’s Remuneration. Remuneration of Manager (1) The annual remuneration of Manager's Remuneration being the Manager for the performance of its duties hereunder shall be sum not exceeding 10% of the total annual expenditure expenses costs and charges per annum necessarily and reasonably incurred in the course of proper and efficient management of the Development (excluding the total expenses costs and charges, for the purposes of this sub-clause, shall exclude the Manager’s remuneration and 's Remuneration, the Government rents, any capital expenditure or and the expenditure drawn out of the Special Fund) reasonably and necessarily incurred in the management of the Lot and the Development or any portion of the Lot and the Development. The Manager’s remuneration shall be the net remuneration of the Manager for its services as Manager and shall not include the costs, expenses and fees for any staff, facilities, legal, professional, accounting and administration services and all disbursements and out-of-pocket expenses properly incurred in the course of carrying out its duties hereunder which said costs, expenses, fees and disbursements shall be a direct charge on the management funds. Payment of the Manager’s remuneration hereunder shall be in advance by twelve equal calendar monthly instalments each such payment to be in the sum of one twelfth of the annual remuneration of the Manager being 10% of the estimated total annual expenditure for the management of the Lot and the Development (excluding the Manager’s remuneration and the capital expenditure as aforesaid) payable by the Owners according to the annual budget or revised budget for the year in question to be prepared as Fund provided in Clauses 14 to 16 hereof and any adjustment payment or deduction that needs to be made to bring the amount paid to the Manager by way of remuneration for the year in question to the correct amount for such year will be made within twenty-one (21) days from the completion of the auditing of the management accounts for such year as provided in Clause 35 hereof Provided always that by a resolution of the Owners at an Owners’ Owner’s meeting convened under this Deed, any capital expenditure or expenditure drawn out of the Special Fund may be included for calculating the Manager’s remuneration 's Remuneration at the rate as provided under this Clause, of 10% or at such lower rate as considered appropriate by the Owners may consider appropriateOwners) shall be payable by way of equal monthly payments in advance. No variation of the percentage of the annual remuneration of the Manager above may be made except with the approval by a resolution of Owners duly passed at a an Owners’ meeting of Owners convened under this Deed. The amount for such monthly payments shall be estimated by the Manager with adjustments to be made at the end of each financial year when the final annual Management Expenses are ascertained. The percentage chargeable by the Manager may be reviewed by resolution passed at meetings of the Owners, the Owners' Committee or Owners' Incorporation, if formed. For the purpose of this Clause, capital expenditure shall mean expenditure of a kind not expected by the Manager to be incurred annually. Manager's Remuneration exclusive of disbursements (2) The Manager's Remuneration shall not be subject to any requirement by the Manager to disburse or provide from such money such staff referred to in Clause (1)(ag) of Subsection (B) of Section V hereof, but not further or otherwise, facilities, accountancy services, or other professional supervision the cost for which shall be a direct charge upon the Management Funds. Payment of Manager's Remuneration (3) The Manager's Remuneration shall be payable in advance on the first day of each month.

Manager’s Remuneration. The annual remuneration of the Manager for the performance of its duties hereunder shall be 10% of the total annual expenditure costs and charges (excluding the Manager’s 's remuneration and any capital expenditure or expenditure drawn out of the Special Fund) reasonably and necessarily incurred in the management of the Lot and the Development or any portion of the Lot and the Development. The Manager’s 's remuneration shall be the net remuneration of the Manager for its services as Manager and shall not include the costs, expenses and fees for any staff, facilities, legal, professional, accounting and administration services and all disbursements and out-of-of- pocket expenses properly incurred in the course of carrying out its duties hereunder which said costs, expenses, fees and disbursements shall be a direct charge on the management funds. Payment of the Manager’s 's remuneration hereunder shall be in advance by twelve equal calendar monthly instalments each such payment to be in the sum of one twelfth of the annual remuneration of the Manager being 10% of the estimated total annual expenditure for the management of the Lot and the Development (excluding the Manager’s 's remuneration and the any capital expenditure as aforesaidor expenditure drawn out of the Special Fund) payable by the Owners according to the annual budget or revised budget for the year in question to be prepared as provided in Clauses 14 to 14-16 hereof and any adjustment payment or deduction that needs to be made to bring the amount paid to the Manager by way of remuneration for the year in question to the correct amount for such year will be made within twenty-one (21) days from the completion of the auditing of the management accounts for such year as provided in Clause 35 hereof Provided always that by a resolution of Owners at an Owners’ ' meeting convened under this Deed, any capital expenditure or expenditure drawn out of the Special Fund may be included for calculating the Manager’s 's remuneration at the rate as provided under this Clause, or at such lower rate as the Owners may consider appropriate. No variation of the percentage of the annual remuneration of the Manager may be made except with the approval by a resolution of Owners duly passed at a meeting of Owners convened under this Deed.