Base Management Fee Percentage definition

Base Management Fee Percentage means 1.5% per annum; provided, however, that, subject to the last sentence of this definition, on such date as Residential has more than 2,499 Single-Family Rental Assets Actually Rented, the Base Management Fee Percentage shall increase to 1.75% per annum, and on such date as Residential has more than 4,499 Single-Family Rental Assets Actually Rented, the Base Management Fee Percentage shall increase to 2.0% per annum, subject to the following additional conditions: (a) at any time when the Base Management Fee Percentage is set at 2.0% per annum, the Base Management Fee Percentage shall be reduced to 1.75% per annum in the event the number of Single-Family Rental Assets Actually Rented decreases to less than 4,500; (b) at any time when the Base Management Fee Percentage is set at 1.75% per annum, the Base Management Fee Percentage shall be reduced to 1.5% per annum in the event the number of Single-Family Rental Assets Actually Rented decreases to less than 2,500; and (c) after the number of Single-Family Rental Assets Actually Rented decreases to less than 2,500 or 4,500, respectively, if the number of Single-Family Rental Assets Actually Rented again exceeds 2,499 and 4,499, respectively, the Base Management Fee shall again increase to 1.75% per annum and 2.0% per annum, respectively. For each fiscal quarter, the Base Management Fee Percentage shall be set based on the number of Single-Family Rental Assets Actually Rented on the last Business Day of the preceding fiscal quarter. For the avoidance of doubt, the Base Management Fee Percentage at the beginning of any fiscal quarter shall apply for the duration of such fiscal quarter, regardless of whether the number of Single-Family Rental Assets Actually Rented exceeds 2,500 or 4,500 during such quarter.
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Base Management Fee Percentage means 1.5% per annum; provided, however, that, subject to the last sentence of this definition, on such date as Residential has more than 2,499 Single-Family Rental Assets Actually Rented, the Base Management Fee Percentage shall increase to 1.75% per annum, and on such date as Residential has more than 4,499 Single- Family Rental Assets Actually Rented, the Base Management Fee Percentage shall increase to 2.0% per annum, subject to the following additional conditions: (a) at any time when the Base Management Fee Percentage is set at 2.0% per annum, the Base Management Fee Percentage shall be reduced to 1.75% per annum in the event the number of Single-Family Rental Assets Actually Rented decreases to less than 4,500; (b) at any time when the Base Management Fee Percentage is set at 1.75% per annum, the Base Management Fee Percentage shall be reduced to 1.5% per annum in the event the number of Single-Family Rental Assets Actually Rented decreases to less than 2,500; and (c) after the number of Single-Family Rental Assets Actually Rented decreases to less than 2,500 or 4,500, respectively, if the number of Single-Family Rental Assets Actually Rented again exceeds 2,499 and 4,499, respectively, the Base Management Fee shall again increase to 1.75% per annum and 2.0% per annum, respectively. For each fiscal quarter, the Base Management Fee Percentage shall be set based on the number of Single-Family Rental Assets Actually Rented on the last Business Day of the preceding fiscal quarter. For the avoidance of doubt, the Base Management Fee Percentage at the beginning of any fiscal quarter shall apply for the duration of such fiscal quarter, regardless of whether the number of Single-Family Rental Assets Actually Rented exceeds 2,500 or 4,500 during such quarter.
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Related to Base Management Fee Percentage

  • Facility Fee Percentage means the applicable percentage per annum ----------------------- determined, at any time, based on the range into which Borrower's Credit Rating (if any) then falls, in accordance with the following tables. Any change in the Facility Fee Percentage shall be effective immediately as of the date on which any of the rating agencies announces a change in the Borrower's Credit Rating or the date on which the Borrower has no Credit Rating, whichever is applicable. The Facility Fee Percentage during the time, from time to time, that the Borrower maintains an Investment Grade Credit Rating by either Xxxxx'x or S&P shall be as follows: Range of Borrower's Credit Rating Percentage of S&P/Moody's Ratings Maximum Credit Amount ------------------- --------------------- below BBB-/Baa3 0.00% BBB-/Baa3 0.20% BBB/Baa2 0.20% BBB+/Baa1 0.15% A-/A3 0.15% If at any time the Borrower has a Credit Rating by both Moody's and S&P which Credit Ratings are split, then: (A) if the difference between such Credit Ratings is one ratings category (e.g. Baa2 by Moody's and BBB- by S&P), the Facility Fee Percentage shall be the rate per annum that would be applicable if the highest of the Credit Ratings were used; and (B) if the difference between such Credit Ratings is two ratings category (e.g. Baa1 by Moody's and BBB- by S&P), the Facility Fee Percentage shall be the rate per annum that would be appli- cable if the median of the applicable Credit Ratings is used.

  • Applicable L/C Fee Percentage means, as at any date of determination, the rate per annum then applicable in the determination of the amount payable under Section 3.08(a) hereof as set forth in the Pricing Schedule.

  • Commitment Fee Percentage means, with respect to the Revolving Loan Commitments at any time, the per annum percentage which is used to calculate Commitment Fees for such Revolving Loan Commitments determined pursuant to the Pricing Grid.

  • Applicable Fee Percentage means, as of any date of determination thereof, the applicable percentage used to calculate certain of the fees due and payable hereunder, determined by reference to the appropriate columns in the Pricing Matrix attached to this Agreement as Schedule 1.1.

  • Applicable Unused Line Fee Percentage means, as of any date of determination, the applicable percentage set forth in the following table that corresponds to the Average Revolver Usage of Borrowers for the most recently completed month as determined by Agent in its Permitted Discretion; provided, that for the period from the Closing Date through and including February 28, 2015, the Applicable Unused Line Fee Percentage shall be set at the rate in the row styled "Level II"; provided further, that any time an Event of Default has occurred and is continuing, the Applicable Unused Line Fee Percentage shall be set at the margin in the row styled "Level II": Level Average Revolver Usage Applicable Unused Line Fee Percentage I > 50% of the Maximum Revolver Amount 0.25 percentage points II < 50% of the Maximum Revolver Amount 0.375 percentage points The Applicable Unused Line Fee Percentage shall be re-determined on the first date of each fiscal month of Borrowers by Agent.

  • Applicable Commitment Fee Percentage means, as at any date of determination, the rate per annum then applicable in the determination of the amount payable under Section 2.14(C)(i) hereof determined in accordance with the provisions of Section 2.14(D)(ii) hereof.

  • Applicable Facility Fee Percentage means, as at any date of determination, the rate per annum then applicable in the determination of the amount payable under Section 2.14(C)(i) hereof determined in accordance with the provisions of Section 2.14(D)(ii) hereof.

  • Servicing Fee Percentage With respect to each Mortgage Loan, the percentage specified on the Servicer Mortgage Loan Schedule.

  • Applicable Unused Commitment Fee Rate means 0.50% per annum.

  • Applicable Commitment Fee Margin means, for each Pricing Period, the margin set forth below (expressed in basis points per annum) opposite the Applicable Pricing Level for that Pricing Period: Applicable Pricing Level Margin II 10.0 V 17.5

  • Applicable Unused Line Fee Margin means the per annum fee, from time to time in effect, payable in respect of Borrowers’ non-use of committed funds pursuant to Section 1.9(b), which fee is determined by reference to Section 1.5(a).

  • Commitment Fee Rate has the meaning set forth in the definition of “Applicable Margin”.

  • Administrative Fee Rate The sum of the Servicing Fee Rate, the Trustee/Certificate Administrator Fee Rate and the CREFC® Licensing Fee Rate.

  • Utilization Fee Rate means the percentage set forth in Schedule 1 hereto beside the then applicable Level.

  • Unused Commitment Fee Rate has the meaning given to such term in the Fee Letter.

  • Facility Fee Rate means a rate per annum determined in accordance with the Pricing Schedule.

  • Unused Fee Rate means a rate equal to 0.50% per annum.

  • Program Fee Rate has the meaning set forth in the Fee Letter.

  • Administration Fee Rate The sum of (i) the Servicing Fee Rate, (ii) the Master Servicing Fee Rate and (iii) the Credit Risk Management Fee Rate.

  • Applicable Commitment Fee Rate means:

  • Applicable Facility Fee Rate means, at any time, the percentage rate per annum at which Facility Fees are accruing on the Aggregate Commitment (without regard to usage) at such time as set forth in the Pricing Schedule.

  • Applicable L/C Margin means the per annum fee, from time to time in effect, payable with respect to outstanding Letter of Credit Obligations as determined by reference to Section 1.5(a).

  • Applicable Utilization Fee Rate means, as of any date, the percentage rate per annum at which Utilization Fees accrue on all Revolving Credit Advances at such time as set forth in the Pricing Schedule.

  • Unused Facility Fee has the meaning specified in Section 2.09(a).

  • Monthly Uptime Percentage means total number of minutes in a calendar month minus the number of minutes of Downtime suffered in a calendar month, divided by the total number of minutes in a calendar month.

  • Applicable Fee Rate means, at any time, the percentage rate per annum at which Commitment Fees are accruing on the unused portion of the Aggregate Commitment at such time as set forth in the Pricing Schedule.