Payment of Base Management Fee. On the fifth (5th) day of each month during the term of this Agreement, Manager shall be paid out of the Operating Account, the Base Management Fee for the preceding Accounting Period, as determined from the books and records referred to in Article XV.
Payment of Base Management Fee. On the tenth (10th) day of each month during the term of this Agreement, Manager shall be paid out of the Operating Account, the Base Management Fee for the preceding Accounting Period, as determined from the books and records referred to in Article XV.
Payment of Base Management Fee. One-twelfth (1/12th) of the annual Base Management Fee for the applicable Twelve Month Period shall be paid on the first Business Day of each month in each Twelve Month Period in arrears. For any Twelve Month Period that is a partial twelve (12) month period, the Base Management Fee for each month in said partial Twelve Month Period shall be the pro rata amount calculated for the number of months or partial months in said partial Twelve Month Period. Owner hereby authorizes Manager to withdraw the monthly installment of the Base Management Fee on the first Business Day of each month from the Lockbox Fund.
Payment of Base Management Fee. The Base Management Fee for each month shall be paid, in arrears, concurrently with the delivery of the monthly report under Section 2.20.2. Corporation hereby authorizes Manager to withdraw the monthly installment of the Base Management Fee on such date from the Lockbox Fund. If the aggregate monthly Base Management Fees paid during an Operating Year either exceeds or are less than the Base Management Fee shown in the Certified Financial Statements of Corporation relating to the Hotel contemplated by Section 2.20.3, then Manager shall deposit into, or withdraw the amount of such overpayment or underpayment, as the case may be, from the Hotel Accounts. Any overpayments of the Base Management Fee required to be repaid by Manager shall not be subject to any right of offset of Manager for any other amounts owed to or claimed by Manager hereunder.
Payment of Base Management Fee. The Base Management Fee for each Fiscal Year each shall be payable from Gross Revenues, in arrears, in twelve (12) monthly installments due by the tenth (10th) day following the month for which such payment is to be made; provided, however, that in the case of the first Fiscal Year and the last Fiscal Year, the number of such installments shall equal the number of calendar months (or partial calendar months) included within such Fiscal Year. Appropriate provisions shall be made in the case of the final month of the Term. At the end of each Fiscal Year, in connection with the submission of annual financial statements and other reports pursuant to Section 6.01 and the completion of any audit pursuant to Section 6.03, the Gross Revenues for such Fiscal Year shall be determined. If such determination reveals any underpayments or overpayments in respect of the Management Fee for such Fiscal Year, then an adjustment in the amount of the Management Fee for such Fiscal Year shall be made, and all sums determined to be owing to either Tenant or Manager as a result of such adjustment shall be paid immediately.
Payment of Base Management Fee. The Base Management Fee shall be payable in arrears in cash, in monthly installments commencing with the first calendar month immediately following the month in which the Closing Date occurs (with such initial payment pro-rated based on the number of days during such month following the Closing Date), and the Manager shall calculate each installment thereof, and deliver such calculation to the Board of Trustees, as soon as practicable following the last day of each calendar month. The Company shall pay the Manager each installment of the Base Management Fee within five (5) Business Days after the date of delivery to the Board of Trustees of such computations.
