Variable Fee definition

Variable Fee means an amount in cash based on the Total Basket NAV, which shall be paid by the Authorized Participant in connection with Variable Fee Cash Orders. The amount may be changed by the Sponsor in its sole discretion at any time.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Variable Fee means, for each calendar month, the amount that Customer is obligated to pay to Sabre pursuant to SCHEDULE 8 of the Agreement in connection with Variable Services provided in that month.

Variable Fee. ’ means a variable fee of 4% per annum of the net property income (before deduction therefrom of the Variable Fee) of real estates held by New Century REIT;

Examples of Variable Fee in a sentence

• The Sponsor will determine if such Creation Order will be a Variable Fee Cash Order or an Actual Execution Cash Order, which determination will be communicated to the Authorized Participant.

• The relevant Redemption Order shall be deemed a failed trade and the Trust will return (x) (A) in the case of a Variable Fee Cash Order, the Total Basket NAV less any Variable Fee; or (B) in the case of an Actual Execution Cash Order, the Total Basket NAV less any Redemption Cash Shortfall (plus any Additional Redemption Cash), if applicable, to the liquidity provider and/or (y) the Shares to the Authorized Participant, in each case to the extent received by the Trust.

• The Sponsor will determine if such Redemption Order will be a Variable Fee Cash Order or an Actual Execution Cash Order, which determination will be communicated to the Authorized Participant.

• The Sponsor and Transfer Agent may deem the relevant Redemption Order as a failed trade, and the Trust shall return (A) in the case of a Variable Fee Cash Order, the Total Basket NAV less any Variable Fee; or (B) in the case of an Actual Execution Cash Order, the Total Basket NAV less any Redemption Cash Shortfall (plus any Additional Redemption Cash), if applicable, to the relevant liquidity provider.

• The relevant Creation Order shall be deemed a failed trade and the Trust will return (x) the Total Basket Amount to the liquidity provider and/or (y) the Total Basket NAV plus (A) in the case of a Variable Fee Cash Order, the Variable Fee or (B) in the case of an Actual Execution Cash Order, any Additional Creation Cash (less any Excess Creation Cash), if applicable, to the Authorized Participant, in each case to the extent then in possession of the Trust.

More Definitions of Variable Fee

Variable Fee means the variable fee payable to the REIT Manager on an annual basis under the Trust Deed, being 25.0% per annum of the difference in DPU in a financial year compared to the preceding financial year, multiplied by the weighted average number of Units in issue for such financial year. For the purpose of calculating the Variable Fee only, the DPU shall be calculated before accounting for the Variable Fee but after accounting for the Base Fee for the relevant financial year.

Variable Fee shall have the meaning set forth in Section 5.

Variable Fee means for any Variable Advance, the number of basis points per annum determined at the time of funding of such Variable Advance by Lender as the Variable Fee for such Variable Advance.

Variable Fee or “VF” means, in respect of a Site Service, the fee identified as such in the Service Schedule for such Site Service.

Variable Fee means, with respect to any calendar quarter, a fee equal to 0.375% of the product of (x) the excess of (A) the Quarter-End Price with respect to such calendar quarter over (B) the Reference Share Price multiplied by (y) the Reference Share Count, where:

Variable Fee for any fiscal year means an amount equal to the Fixed Management Fee payable in that fiscal year if the Cumulative Adjusted EBITDA for that fiscal year equals or exceeds the applicable Target Adjusted EBITDA. If the Cumulative Adjusted EBITDA for that fiscal year is less than or equal to 85% of the applicable Target Adjusted EBITDA the Variable Fee shall be zero. If the Cumulative Adjusted EBITDA for that fiscal year is between 85% and 100% of the applicable Target Adjusted EBITDA, the Variable Fee shall be a portion of the Fixed Management Fee payable to BI for that year which is linearly proportional to the amount by which such percentage of the Target Adjusted EBITDA exceeds 85%. For example, if the Cumulative Adjusted EBITDA for a fiscal year were 86% of the Target Adjusted EBITDA, the Variable Fee would equal 1/15th of the Fixed Management Fee payable in that fiscal year.

Variable Fee has the meaning given to it in Appendix C.