Subordinated Incentive Fee. The fee payable to the Advisor under certain circumstances if the Shares are Listed. Termination Date. The date of termination of the Agreement. 2%/25% Guidelines. The requirement pursuant to the guidelines of the North American Securities Administrators Association, Inc. that, in any 12 month period, total REIT Operating Expenses not exceed the greater of 2% of the Company’s Average Invested Assets during such 12 month period or 25% of the Company’s Net Income over the same 12 month period.
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Samples: Advisory Agreement (Orange REIT, Inc.), Advisory Agreement (Orange Hospitality, INC), Advisory Agreement (Orange REIT, Inc.)
Subordinated Incentive Fee. The fee payable to the Advisor under certain circumstances if the Shares are Listed. Termination Date. The date of termination of the Agreement. 2%/25% Guidelines. The requirement pursuant to the guidelines of the North American Securities Administrators Association, Inc. that, in any 12 month period, total REIT Operating Administrative Expenses not exceed the greater of 2% of the Company’s Average Invested Assets during such 12 month period or 25% of the Company’s Net Income over the same 12 month period.
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