Examples of Management Fee in a sentence
In the event Owner fails to approve appropriation of funds provided for in this Agreement for any year, Owner will pay Maxim the applicable Monthly Management Fee for three months thereafter, provided that such three-month period remains within the term of this Agreement.
A "Fixed Management Fee" shall be paid to Maxim for each month this Agreement is in effect in the applicable amount described in subparagraph 7.c. (Schedule of Fixed and Contingent Management Fees).
If this Agreement is terminated prior to the end of any fiscal year, for purposes of determining the Contingent Management Fee the dollar amount of Revenue Base for that year set forth above shall be adjusted downward, based upon reasonable proration, as determined by utilizing the monthly average of the preceding two fiscal years.
A "Contingent Management Fee" shall accrue and be payable to Maxim at the end of the first (1st ) month following a fiscal year in which Revenues equals or exceeds Revenues Base set forth in subparagraph 7.c. (Schedule of Fixed and Contingent Management Fees), provided, however, that no such Fee shall be due and owing unless and until the Owner has received the audited financial statements referenced in paragraph 8 hereof and as hereinafter provided.
Fiscal Year Fixed Monthly Fee Contingent Management Revenues Base Fee Percentage 2024/2025 $3,917 10% $630,000 2025/2026 $4,000 11% $635,000 2026/2027 $4,167 12% $640,000 2027/2028 $4,250 13.5% $645,000 2028/2029 $4,333 15% $650,000 *If Revenues for Owner equals $640,000 in fiscal year 2024/2025 then the Contingent Management Fee would be computed as follows: (Example Revenue Base) = $630,000 ($10,000 times 10% or a contingent management fee of $1,000).