Definition of Pooling and Cumulation Agreement


Pooling and Cumulation Agreement means that certain Pooling and Cumulation Agreement made as of this day of , 2003 by Lessee and Manager, in the form attached hereto as Exhibit B.

Examples of Pooling and Cumulation Agreement in a sentence

In addition to the Base Management Fee, subject to the Pooling and Cumulation Agreement, Manager shall be paid an incentive fee (Incentive Management Fee) equal to fifty percent (50%) of Available Cash Flow in any Fiscal Year.
Without limiting the foregoing, for clarification purposes, Manager and Lessee hereby agree that the payment to Manager of the Incentive Management Fee, if any, shall be subordinated to Lessees Priority hereunder (for the then current Fiscal Year and for any and all prior Fiscal Years, to the extent not fully paid) and shall be subject to the Pooling and Cumulation Agreement.
All payments to Manager with respect to the Incentive Management Fee, including, without limitation advances, are expressly subject to the prior payment to Lessee, and subordinated to Lessees right to receive, Lessees Priority, and are subject to the other terms and conditions of this Agreement, the Pooling and Cumulation Agreement, and Lessees rights to contest or challenge any such report and to the resolution of any such challenge.