Ongoing Monthly Fee definition

Ongoing Monthly Fee means, for each Acquired Hotel, an amount equal to either (i) ten percent (10%) of the Net Cash Received by HHG in respect of such Acquired Hotel for the month in question, or (ii) in the event that HHG splits a portion of its management fee with another third party or third parties, the Ongoing Monthly Fee shall be an amount equal to fifteen percent (15%) of the Net Cash Received by HHG for the month in question less all management fees paid to such other third party or third parties.
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Examples of Ongoing Monthly Fee in a sentence

  • For any given Acquired Hotel, the Ongoing Monthly Fee shall be payable for 36 calendar months following the closing of the acquisition of such Acquired Hotel.

  • In consideration of the Ongoing Services provided by AEL, HHG agrees to pay to AEL the Ongoing Monthly Fee; provided that the aggregate of the Retainer and the Ongoing Monthly Fees in respect of all Acquired Hotels payable to AEL shall be limited to no more than the Maximum Amount.

  • In consideration of the Ongoing Services provided by RPC, HHG agrees to pay to RPC the Ongoing Monthly Fee; provided that the aggregate of the Retainer and the Ongoing Monthly Fees in respect of all Acquired Hotels payable to RPC shall be limited to no more than the Maximum Amount.

  • In consideration of the Ongoing Services provided by NCL, HHG agrees to pay to NCL the Ongoing Monthly Fee; provided that the aggregate of the Retainer and the Ongoing Monthly Fees in respect of all Acquired Hotels payable to NCL shall be limited to no more than the Maximum Amount.

  • Ongoing Monthly Fee - $199.00 Including GST This fee must be paid by direct debit on a day of the month agreed by Principal and Contractor.