Common use of Manager’s Remuneration Clause in Contracts

Manager’s Remuneration. 100. The Manager's Remuneration shall be ten percent (10%) per annum (which percentage may not be varied except with the approval by a resolution of the Owners at meetings of the Owners convened under this Deed) of the total annual management expenditure of the Land and the Development (excluding the Manager’s Remuneration itself and any capital expenditure and any expenditure drawn out of the Special Fund as referred to in Clause 111) necessarily and reasonably incurred in the management of the Land and the Development provided that, by a resolution of the 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 applicable under this clause or at such lower rate as considered appropriate by the Owners. Payment of the Manager's Remuneration shall be in advance in the manner as shall be determined by the Manager. Any over-payment of the Manager's Remuneration in the year in question shall be refunded and be paid by the Manager into the management fund within 21 days of the completion of the auditing of the annual accounts for such year as provided under Clause 126 and any adjustment payment that needs to be made by the Owners to bring the amount paid to the Manager by way of remuneration for the year in question to the correct amount for such year, calculated in accordance with the first sentence of this clause, shall likewise be made within 21 days of the completion of the auditing of the annual accounts for such year.

Manager’s Remuneration. 1001. The Manager's Remuneration ’s annual remuneration shall be ten percent (10%) per annum (which percentage may not be varied except with the approval subject to variation by a resolution of the Owners at meetings of the Owners convened under this Deed) of the total annual management expenditure of the Land and the Development (excluding Development. For the purpose of calculating the Manager’s Remuneration, the total management expenditure shall exclude the Manager’s Remuneration itself and any capital expenditure and any or expenditure drawn out of the Special Fund as referred to in Clause 111) 10 of Subsection D of this Section VI necessarily and reasonably incurred in the management of the Land and the Development provided that, that by a resolution of the 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 applicable under this clause herein or at such lower rate as considered appropriate by the Owners. Payment of the Manager's ’s Remuneration shall be in advance in the manner as shall be determined by the Manager. Any over-payment of the Manager's ’s Remuneration in the year in question shall be refunded and be paid by the Manager into the management fund Management Fund within 21 twenty-one (21) days of the completion of the auditing of the annual accounts for such year as provided under Clause 126 5 of Subsection H of this Section and any adjustment payment that needs to be made by the Owners to bring the amount paid to the Manager by way of remuneration for the year in question to the correct amount for such year, (calculated in accordance with of the first sentence provisions of this clause, ) for such year shall likewise be made within 21 twenty-one (21) days of the completion of the auditing of the annual accounts for such year.

Manager’s Remuneration. 1001. The Manager's Remuneration shall be ten percent (10%) per annum (which percentage may not be varied except with the approval subject to variation by a resolution of the Owners at meetings of the Owners convened under this Deed) of the total annual management expenditure of the Land and the Development (excluding the Manager’s Remuneration itself itself, and any capital expenditure and any (or expenditure drawn out of the Special Fund as referred to in Clause 11110 of Subsection D of this Section VI)) necessarily and reasonably incurred in the management of the Land and the Development provided that, that by a resolution of the Owners at an Owners’ meeting convened under this Deed, Deed any capital expenditure or expenditure drawn out of the Special Fund may be included for calculating the Manager’s Remuneration at the rate applicable under this clause or at such lower rate as considered appropriate by the Owners. Payment of the Manager's Remuneration shall be in advance in the manner as shall be determined by the Manager. Any over-payment of the Manager's Remuneration in the year in question shall be refunded and be paid by the Manager into the management fund within 21 days of the completion of the auditing of the annual accounts for such year as provided under Clause 126 5 of Subsection H of this Section and any adjustment payment that needs to be made by the Owners to bring the amount paid to the Manager by way of remuneration for the year in question to the correct amount for such year, year calculated in accordance with the first sentence of this clause, clause shall likewise be made within 21 days of the completion of the auditing of the annual accounts for such year.

Manager’s Remuneration. 100107. The Manager's Remuneration shall be ten fifteen percent (1015%) per annum (which percentage may not be varied except with the approval by a resolution of the Owners at meetings of the Owners convened under this Deed) of the total annual management expenditure expenses of the Land and the Development (excluding (i) the Manager’s Remuneration itself itself, and (ii) any capital expenditure and any or expenditure drawn out of the Special Fund as referred to in Clause 111118) necessarily and reasonably incurred in the management of the Land and the Development provided that, that by a resolution of the Owners at an Owners’ meeting convened under this Deed, Deed any capital expenditure or expenditure drawn out of the Special Fund may be included for calculating the Manager’s Remuneration at the rate applicable under this clause or at such lower rate as considered appropriate by the Owners. Payment of the Manager's Remuneration shall be in advance in the manner as shall be determined by the Manager. Any over-payment of the Manager's Remuneration in the financial year in question shall be refunded and be paid by the Manager into the management fund within 21 days of the completion of the auditing of the annual accounts for such financial year as provided under Clause 126 133 and any adjustment payment that needs to be made by the Owners to bring the amount paid to the Manager by way of remuneration for the financial year in question to the correct amount for such year, financial year calculated in accordance with the first sentence of this clause, clause shall likewise be made within 21 days of the completion of the auditing of the annual accounts for such financial year.

Manager’s Remuneration. 1001. The Manager's Remuneration shall be not exceed ten percent (10%) per annum (which no variation of the percentage may not be varied made except with the approval by a resolution of the Owners at meetings of the Owners convened under this Deed) of the total annual management expenditure of the Land and the Development (excluding the Manager’s Remuneration itself itself, and any capital expenditure and any or expenditure drawn out of the Special Fund as referred to in Clause 11111 of Subsection D of this Section VI) necessarily and reasonably incurred in the management of the Land and the Development provided that, that by a resolution of the 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 applicable under this clause Clause or at such lower rate as considered appropriate by the Owners. Payment of the Manager's Remuneration shall be in advance in the manner as shall be determined by the Manager. Any over-payment of the Manager's Remuneration in the year in question shall be refunded and be paid by the Manager into the management fund within 21 days of the completion of the auditing of the annual accounts for such year as provided under Clause 126 5 of Subsection H of this Section and any adjustment payment that needs to be made by the Owners to bring the amount paid to the Manager by way of remuneration for the year in question to the correct amount for such year, year calculated in accordance with the first sentence of this clause, Clause shall likewise be made within 21 days of the completion of the auditing of the annual accounts for such year.