Property Management Fee Rate definition

Property Management Fee Rate. With respect to each Lease and Mortgage Loan, a monthly rate equal to the product of (i) one-twelfth and (ii) 0.25%.

Property Management Fee Rate. With respect to each Mortgage Loan and each Lease, a fixed percentage rate equal to 0.25% per annum.

Property Management Fee Rate. With respect to each Mortgage Loan and each Lease, a fixed percentage rate equal to 0.25% per annum. “Property Manager ”: Spirit Realty, in its capacity as property manager under this Agreement, or any successor property manager appointed as herein provided. “Property Manager Additional Servicing Compensation ”: As defined in Section 3.11(b) . “Property Protection Advances ”: With respect to the Leases, the Mortgage Loans and the Mortgaged Properties: (i) All customary, reasonable and necessary out-of-pocket costs and expenses incurred by the Property Manager or the Back-Up Manager, in connection with servicing the Leases, the Mortgaged Properties and the Mortgage Loans, in accordance with the Servicing Standard and this Agreement, for the purpose of paying (a) real estate taxes, (b) in the case of Leasehold Mortgaged Properties, payments required to be made under the related ground leases, (c) premiums on Property Insurance Policies (not already paid pursuant to Section 2.11 of the Indenture, as confirmed by the applicable Issuers) and (d) other amounts necessary to preserve or maintain the security interest and lien of the Indenture Trustee in, and value of, each related Mortgaged Property (including any costs and expenses necessary to re-lease such Mortgaged Property), Lease or Mortgage Loan (including costs and expenses related to collection efforts). (ii) All customary, reasonable and necessary out-of-pocket costs and expenses incurred by the Property Manager or the Back-Up Manager (or, if applicable, the Special Servicer) in connection with the servicing of a Mortgage Loan after a default, delinquency or other unanticipated event, or in connection with the administration of any REO Property, including, but not limited to, the cost of (a) 20 US-DOCS\ 96557504.7 102826315.7

Examples of Property Management Fee Rate in a sentence

• As to each such Mortgaged Property and Mortgage Loan included in the Collateral Pool, the Property Management Fee shall accrue daily at the related Property Management Fee Rate on the basis of the Collateral Value of each such Mortgaged Property and Mortgage Loan and shall be calculated with respect to each Mortgage Loan on the same basis as interest accrues on such Mortgage Loan and with respect to each Mortgaged Property on a 30/360 Basis.

• We also received submissions from landowners in the precinct concerned about the delay of their land acquisitions.

• As to each such Property, the Property Management Fee shall accrue daily at the related Property Management Fee Rate on the basis of the Allocated Loan Amount (as of the related Determination Date) of each such Property.

• As to each such Lease, the Property Management Fee shall accrue at the related Property Management Fee Rate on the basis of the Allocated Loan Amount of each Lease that is not a Specially Managed Lease.