Examples of Gross Collections in a sentence
Commencing on the date hereof, Owner shall pay to Manager a fee (the “Management Fee”), payable monthly in arrears, in an amount equal to Three Percent (3.0%) of Gross Collections for such month.
Beginning withthe report for July 2005, we report only Gross Collections and Taxable Sales.TABLE 3.
Notwithstanding anything to the contrary in any Pooling Agreement, the Servicer shall not receive Servicing Fees, other servicing compensation, or reimbursement of Servicing Advances or Servicer Delinquency Advances except in accordance with this Amendment and the Servicer shall not be entitled to deduct, off-set or net any amounts from Gross Collections prior to deposit into the Clearance Account.
Notwithstanding the foregoing sentence; upon any termination by Owner without cause under this Section 4.3, Owner shall pay to Manager a fee (the “Termination Fee”) equal to three (3) months of the Management Fee calculated on the average Gross Collections for the three (3) calendar months preceding the date of such termination.
Alternatively, if Owner contracts or Manager subcontracts with a third-party property manager pursuant to Section 3.15 hereof, Owner agrees to pay to Manager an oversight fee (the “Oversight Fee”), payable monthly in arrears, in an amount equal to one percent (1.0%) of Gross Collections for such month.