Common use of Manager’s Remuneration Clause in Contracts

Manager’s Remuneration. (a) The Manager’s annual remuneration for the performance of its duties hereunder shall be fifteen per cent (15%) of the total annual Management Expenses (excluding (i) the Manager’s remuneration and (ii) expenditure of a capital nature or expenditure drawn or to be drawn out of the Special Fund, in this Clause, ("capital expenditure"), PROVIDED THAT by a resolution of Owners passed at a meeting of the Owners convened under this Deed, any capital expenditure may be included for calculating the Manager’s remuneration at the aforesaid percentage or at such lower rate as considered appropriate by the Owners) reasonably and necessarily incurred for the proper and efficient management of the Land and the Building.

Manager’s Remuneration. (a) The Manager’s 's annual remuneration for the performance of its duties hereunder shall be fifteen ten per cent (1510%) of the total annual Management Expenses (excluding (i) the Manager’s 's remuneration and (ii) expenditure of a capital nature or expenditure drawn or to be drawn out of the Special Fund, in this Clause, (the "capital expenditure"), PROVIDED THAT by a resolution of Owners passed at a meeting of the Owners convened under this Deed, any capital expenditure may be included for calculating the Manager’s 's remuneration at the aforesaid percentage or at such lower rate as considered appropriate by the Owners) reasonably and necessarily incurred for the proper and efficient management of the Land and the BuildingDevelopment.

Manager’s Remuneration. (a) The Manager’s 's annual remuneration for the performance of its duties hereunder shall be fifteen ten per cent (1510%) of the total annual Management Expenses (excluding (i) the Manager’s 's remuneration and (ii) expenditure of a capital nature or expenditure drawn or to be drawn out of the Special Fund, in this Clause, (the "capital expenditure"), PROVIDED THAT by a resolution of the Owners passed at a meeting of the Owners convened under this Deed, any capital expenditure may be included for calculating the Manager’s 's remuneration at the aforesaid percentage or at such lower rate as considered appropriate by the Owners) reasonably and necessarily incurred for the proper and efficient management of the Land and the Building.

Manager’s Remuneration. (a) The Manager’s annual remuneration for the performance of its duties hereunder shall be fifteen ten per cent (1510%) of the total annual Management Expenses (excluding (i) the Manager’s remuneration and (ii) expenditure of a capital nature or expenditure drawn or to be drawn out of the Special Fund, in this Clause, ("“capital expenditure"”), PROVIDED THAT by a resolution of Owners passed at a meeting of the Owners convened under this Deed, any capital expenditure may be included for calculating the Manager’s remuneration at the aforesaid percentage or at such lower rate as considered appropriate by the Owners) reasonably and necessarily incurred for the proper and efficient management of the Land and the Building.

Manager’s Remuneration. (a) The Manager’s annual remuneration for the performance of its duties hereunder shall be fifteen ten per cent (1510%) of the total annual Management Expenses (excluding (i) the Manager’s remuneration and (ii) expenditure of a capital nature or expenditure drawn or to be drawn out of the Special Fund, in this Clause, ("capital expenditure"), PROVIDED THAT by a resolution of Owners passed at a meeting of the Owners convened under this Deed, any capital expenditure may be included for calculating the Manager’s remuneration at the aforesaid percentage or at such lower rate as considered appropriate by the Owners) reasonably and necessarily incurred for the proper and efficient management of the Land and the Building.