Subordinated Management Fees definition

Subordinated Management Fees means the management fees payable pursuant to the Management Services Agreement which in the event of a bankruptcy of the Company shall be subordinated to the prior payment in full, in cash, of all Obligations due in respect of the Notes (including interest after the commencement of any bankruptcy proceeding at the rate specified in the Notes) and payment of which shall be suspended during the continuance of a payment default in respect of the Notes.

Subordinated Management Fees shall have the meaning given such term in the Railcar Management Agreement.

Subordinated Management Fees means any amount in excess of four percent (4%) of revenues of a Facility as more specifically defined in the Management Agreement for such Facility.

Examples of Subordinated Management Fees in a sentence

• Notwithstanding the time of filing, attachment or -------------- recording of any document or other instrument, it is agreed by Junior Claimant that any liens arising under or pursuant to the Financing Documents shall be senior to any liens arising in favor of Junior Claimant as part of or relating to the Subordinated Management Fees.

• Should any payment on account of, or any -------------------- collateral for any part of, the Subordinated Management Fees be received by Junior Claimant in violation of this Agreement, such payment or collateral shall be delivered forthwith to Collateral Agent on behalf of the Senior Claimants by the recipient for application to Senior Claims, in the form received.

• All of the Subordinated Management Fees currently held in escrow shall be disbursed for payment to Manager.

• For the avoidance of doubt, accrued and unpaid Base Management Fees or Subordinated Management Fees that are deferred as a result of insufficient funds (other than any Waived Management Fees) in accordance with the Priority of Payments shall bear interest at LIBOR (calculated in the same manner as LIBOR in respect of the Notes) plus 0.30% per annum.

• Accrued and unpaid Base Management Fees or Subordinated Management Fees deferred at the election of the Portfolio Manager shall be deferred without interest.

More Definitions of Subordinated Management Fees

Subordinated Management Fees means management and other fees pursuant to a TAMSA that are not Technical Assistance and Management Services Fees.

Subordinated Management Fees means fifty percent (50%) of the Management Fee and other fees and amounts due to the Management Company under the Management Agreement as such amounts become due and payable.

Subordinated Management Fees means fifty percent (50%) of the Management Fee and other fees and amounts due to the Management Company under the Management Agreement as such amounts become due and payable;

Subordinated Management Fees means management fees not in excess of $300,000 per annum, provided that such management fee may increase by an amount equal to $300,000 per annum upon the consummation of each acquisition by the Company or any of its Restricted Subsidiaries of all of the Capital Stock of any Person or all or substantially all of the assets or any business unit or division of any Person, in each case, engaged primarily in a Permitted Business and such Person becomes a Restricted Subsidiary or such assets, business unit or division are acquired by a Restricted Subsidiary subject to a maximum aggregate amount of management fees of $2,000,000 in any twelve-month period, which in the event of a bankruptcy of the Company shall be subordinated to the prior payment in full, in cash, of all Obligations due in respect of the Notes (including interest after the commencement of any bankruptcy proceeding at the rate specified in the Notes) and payment of which shall be suspended during the continuance of a payment default in respect of the Notes.

Subordinated Management Fees shall have the meaning set forth in the Loan ---------------------------- Agreement.

Subordinated Management Fees shall have the meaning set forth in Section 5.5 of this Agreement. "Super-Priority Administrative Claim" shall have the meaning set forth in Section 7.1(a)(xi) of this Agreement.

Subordinated Management Fees convert the Subordinated Management Fees provided for under clause 23.3(e)(ii)(1) (Application of moneys on the Proceeds and Revenue Accounts) of the Facility Agreement into Subordinated Loans.