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Title: |
Corporate Overhead Fee Agreement |
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Date: |
2005 |
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Preview shows 3KB of 11KB total |
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Price: |
$37 |
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ID: |
#734423 |
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CORPORATE OVERHEAD FEE AGREEMENT
This CORPORATE OVERHEAD FEE AGREEMENT (this "Agreement") is entered into
as of ______________, 2005, by and between John Q. Hammons Hotels, L.P., a
Delaware limited partnership (the "Partnership"), and JQH Acquisition LLC, a
Delaware limited liability company (the "Manager").
WHEREAS, the Manager is specially skilled in financial, strategic
planning, management consulting and other management skills and services;
WHEREAS, the Partnership wishes to obtain the benefit of the experience of
the Manager and its knowledge of the Partnership and the Partnership's financial
affairs in particular;
WHEREAS, the Manager is willing to make such skills available and to
provide such services to the Partnership on the terms and conditions hereinafter
set forth;
NOW, THEREFORE, in consideration of the foregoing recitals and the mutual
promises hereinafter set forth, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the Partnership
and the Manager, intending to be legally bound, do hereby agree as follows:
1. Engagement. The Partnership hereby engages the Manager for the Term (as
hereinafter defined) and upon the terms and conditions herein set forth to
provide consulting and management advisory services to the Partnership or any of
its subsidiaries, as reasonably requested from time to time by the Partnership
(the "Services"). The Services will be in the field of financial, strategic
planning, management consulting services and such other management areas as the
Manager and the Partnership shall mutually agree. In consideration of the
compensation to the Manager specified herein, the Manager accepts such
engagement and agrees to perform the Services.
2. Term. The engagement hereunder shall be for a term commencing as of the
date hereof and expiring on the Liquidation Completion Date, as such term is
defined in the Third Amended and Restated Partnership Agreement of the
Partnership (the "Term"). The expiration of the Term of this Agreement shall not
affect the Partnership's obligations pursuant to Section 4 with respect to any
portion of the Management Fee (as defined below) payable to the Manager that is
not paid by the Partnership as of the expiration of the Term.
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