Aggregate Owner definition
Examples of Aggregate Owner in a sentence
If any installment of the Aggregate Base Management Fee, the Aggregate Reservation Fee, the Aggregate System Fee or the Aggregate Owner Priority is not paid when due, it shall accrue interest at the Interest Rate.
Fourth, pari passu, to (i) Owners, in an amount necessary to reimburse Owners for all Aggregate Owner Advances which have not yet been repaid pursuant to this Section 3.01, and (ii) to Manager, in an amount necessary to reimburse Manager for all Aggregate Additional Manager Advances which have not yet been repaid pursuant to this Section 3.01.
Fourth, pari passu, to (i) Owners, in an amount necessary to reimburse Owners for all Aggregate Owner Advances which have not yet been repaid pursuant to this Section 3.01, and (ii) to Managers, in an amount necessary to reimburse Managers for all Aggregate Additional Manager Advances which have not yet been repaid pursuant to this Section 3.01.
Fourth, pari passu, (i) to Owners, in an amount necessary to reimburse Owners for all Aggregate Owner Advances which have not yet been repaid pursuant to this Section 3.01, and (ii) to Managers, in an amount necessary to reimburse Managers for all Aggregate Additional Manager Advances which have not yet been repaid pursuant to this Section 3.01.
The Aggregate Base Fee and Aggregate Owner Priority Return shall be subject to adjustment by increasing or decreasing the payment due in the following month based upon Aggregate Gross Revenues reflected in the Aggregate Monthly Financial Statements and increases or decreases in Aggregate Invested Capital reported to Manager by Owners, as the case may be.
If any installment of the Aggregate Base Fee or the Aggregate Owner Priority Return is not paid when due, it shall accrue and bear interest at the Interest Rate.
After December 31, 2018, if in each of three consecutive calendar years the Aggregate Owner Priority Return (together with any accrued interest) has not been paid in full (a “Priority Return Shortfall”), by notice given within sixty (60) days after receipt of the Aggregate Annual Statement for such third year, the Owners may terminate all, but not less than all, of the Management Agreements.
The Aggregate Incentive Fee and Aggregate Owner Residual Payment shall be paid on the last Business Day of the calendar month following the month to which such Aggregate Incentive Fee and Aggregate Owner Residual Payment relate, in arrears, and shall be based upon the Aggregate Monthly Statements.
The Aggregate Owner Priority Return and Aggregate Owner Residual Payment shall be allocated among the Owners as the Owners shall determine in their sole discretion and Manager shall have no responsibility or liability in connection therewith.
The Aggregate Owner Priority Return and accrued interest, if any, shall be paid on the first Business Day of each calendar month, in advance in approximately equal monthly installments, based upon Aggregate Invested Capital most recently reported to Manager by Owner.