Monthly Gross definition
Examples of Monthly Gross in a sentence
MTS shall pay the Executive as a severance payment (the "Severance Payment") an amount equal to the product of 18 multiplied by the Executive's Monthly Gross Income as defined below.
MTS shall pay the Executive as a severance payment (the "Severance Payment") an amount equal to the product of 36 multiplied by the Executive's Monthly Gross Income as defined in Section 5(a)(i) above.
The cost of the Worker's Compensation Insurance shall be deducted from the Monthly Gross Collections as an operating expense and included in the monthly reports.
The Monthly Management Fee will be due and payable on or before the tenth (10th) day after Owner's receipt of an invoice from Manager with respect to and showing the amount of Monthly Gross Collections received, if any, during the immediately preceding month.
Owner agrees to pay to Manager all of Manager's reimbursable expenses for the preceding month together with a fee (the "MONTHLY MANAGEMENT FEE") computed and payable monthly in arrears in an amount equal to four percent (4%) of the Monthly Gross Collections of the Project.
The Reimbursable Expenses then owed shall be deducted each month from the Monthly Gross Receipts to be paid to Owner pursuant to this Agreement.
If any such Reimbursable Expenses are a part of the Approved Operating Expenses and are paid by Manager and not from Monthly Gross Receipts on hand, then Owner agrees to reimburse such amounts to Manager.
The Management Fee shall be deducted each month from the Monthly Gross Receipts to be paid to Owner pursuant to this Agreement.
The Department shall have the right, upon not less than 15 calendar days written notice to the Permittee, to terminate this Permit if Permittee has not engaged in any activity hereunder for ninety days or more, or if Permittee has failed to file the Monthly Gross Revenues Report required under Section D.1 of this Permit.
Notwithstanding anything contained herein to the contrary, Owner acknowledges and agrees, that the Monthly Gross Revenues used to calculate the Monthly Management Fee for Month One, shall include any pre-paid rents on hand as of the Commencement Date.