Compensation of Developer Sample Clauses

The "Compensation of Developer" clause defines how and when the developer will be paid for their services under the agreement. It typically outlines the payment structure, such as fixed fees, hourly rates, or milestone-based payments, and may specify invoicing procedures and timelines for payment. This clause ensures both parties have a clear understanding of the financial terms, helping to prevent disputes over payment and providing the developer with assurance of compensation for their work.
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Compensation of Developer. In consideration of Developer's Services, Owner shall pay to Developer, _1_% of the Hard Costs for Construction of the Project (the "Developer Fee"). At the same time that Owner pays or is required to pay (whichever occurs first) any Hard Costs for Construction of the Project, Owner shall pay Developer _2Q__% of such Hard Costs for Construction of the Project. In addition to the Developer Fee, Owner shall reimburse Developer for all Reimbursable Costs within 10 days after submission of a request for paymerit of such Reimbursable Costs by Developer to Owner.
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Compensation of Developer. 11.1 Development Fee for the Development Work. For and in consideration of the services rendered by Developer with respect to the Development Work, Owner shall, subject to and in accordance with the terms and provisions of this Agreement, pay to Developer during each month of the Development Period, the applicable monthly installment of the Development Fee. The Development Fee shall be $2,382,568; provided, however, that if there is a material change in the scope of the Development Work, Developer and Owner shall negotiate in good faith to adjust, upward or downward, as applicable, the Development Fee to reflect the increase or decrease in the Development Budget resulting from such change in scope. The applicable monthly installment of the Development Fee for a month shall be based upon the percentage of the Development Work completed as of the end of the relevant month; provided, however, that to the extent that draws against the Member’s Initial Capital Contributions (as defined in the LLC Agreement) and the Loan or, to the extent not funded from those sources, other existing available funds of the Company are not sufficient to pay the Development Fee on such basis, the excess amount shall be deferred until Final Completion, at which time the unpaid balance of the Development Fee shall be due in full.
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Compensation of Developer. As compensation for the services hereunder, Owner agrees to pay Developer a fee in the amount of $[_________], which fee shall be paid as follows: (i) 50% due and payable upon the earlier to occur of (a) [______________] or (b) closing on the financing for the Project and (ii) 10% due and payable on the last business day of each of the five successive calendar months commencing on [___________] and ending on [______________].
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Compensation of Developer. Subject to the adjustments, terms and conditions as expressly provided in this Agreement, as consideration for Developer's services provided under this Agreement, BCOI agrees to pay to Developer the fees set forth on EXHIBIT "F" (the "Developer Fees"). So long as (i) the Project is proceeding in all material respects in accordance with the terms, provisions and conditions of this Agreement, and is proceeding within the Development Budget and in accordance with the Development Schedule, (ii) Developer is not in default hereunder and no event has occurred which with the giving of notice or the passage of time or both would constitute such a default hereunder, (iii) there is no Default or Event of Default, each as defined in the Funding Agreement, and (iv) Developer and/or DSI or any of their Affiliates are not in default under any other agreements and contracts with BCOI or any of its Affiliates or Owner or any of its Affiliates, and no event has occurred which with the giving of notice or the passage of time or both would constitute such a default under this Agreement or any other agreement or contract of Developer and/or DSI with BCOI and any of its affiliates, or Owner or any of its affiliates, eighty percent (80%) of the Developer Fees shall be prorated over ten (10) months and paid in equal monthly installments commencing on September 15, 2005. Such monthly installments shall continue thereafter so long as the requirements set forth in subitems (i) through (iv) of this Article 5 are met and so long as (a) the requirements for funding under the Funding Agreement are satisfied. The remaining twenty percent (20%) of the Developer Fees along with the bonus described on EXHIBIT "F" hereto (the "Developer Bonus").shall be paid to Developer upon the satisfaction of all conditions to the Final Funding under the Funding Agreement. Developer agrees that the payments referred to in this Article 5 are subject and subordinate in all respects to the obligations of BCOI to Owner under the Leases and to any financing for the Project in favor of the Facility Lender and Developer shall, upon written request, execute all documents necessary to confirm such subordination and deferral in such form and on such terms as the Facility Lender may request. In the event Developer defaults hereunder, or if the Project is not progressing in accordance with this Agreement and the Development Schedule and within the Development Budget, then any amounts owed to Developer shall be deter...
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Compensation of Developer. As compensation for the services hereunder, Owner agrees to pay Developer a fee in the amount of $300,000, which fee shall be paid as follows: (i) $150,000 due and payable upon the earlier to occur of (a) November 30, 1998 or (b) closing on the financing for the Project and (ii) $25,000 due and payable on the last business day of each calendar month commencing on December 31, 1998 and continuing thereafter up through and including May 31, 1999.
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Compensation of Developer 
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Related to Compensation of Developer

  • COMPENSATION OF ULTIMUS The Trust, on behalf of each Fund, shall pay for the services to be provided by Ultimus under this Agreement in accordance with, and in the manner set forth in, Schedule B attached hereto, as such Schedule may be amended from time to time. If this Agreement becomes effective subsequent to the first day of a month or terminates before the last day of a month, Ultimus’ compensation for that part of the month in which the Agreement is in effect shall be prorated in a manner consistent with the calculation of the fees as set forth above. Payment of Ultimus’ compensation for the preceding month shall be made promptly.

  • Compensation of Consultant Town agrees to pay to Consultant for satisfactory completion of all services included in this Agreement a total fee of Fifty Thousand ($50,000.00) for the Project as set forth and described in Exhibit B - Compensation Schedule and incorporated herein as if written word for word. Lump sum fees shall be billed monthly based on the percentage of completion. Hourly not to exceed fees shall be billed monthly based on hours of work that have been completed. Direct Costs for expenses such as mileage, copies, scans, sub- consultants, and similar costs are included in fees and shall be billed as completed. Consultant agrees to submit statements to Town for professional services no more than once per month. These statements will be based upon Consultant's actual services performed and reimbursable expenses incurred, if any, and Town shall endeavor to make prompt payments. Each statement submitted by Consultant to Town shall be reasonably itemized to show the amount of work performed during that period. If Town fails to pay Consultant within sixty (60) calendar days of the receipt of Consultant's invoice, Consultant may, after giving ten (10) days written notice to Town, suspend professional services until paid. Nothing contained in this Agreement shall require Town to pay for any work that is unsatisfactory as reasonably determined by Town or which is not submitted in compliance with the terms of this Agreement. The Scope of Services shall be strictly limited. Town shall not be required to pay any amount in excess of the original proposed amount unless Town shall have approved in writing in advance (prior to the performance of additional work) the payment of additional amounts.

  • COMPENSATION OF CONTRACTOR A. The Contractor shall be paid in the manner set forth in Exhibit B. Payment shall be made monthly, unless another payment term is specified in Exhibit B, following receipt of invoices submitted by the Contractor, and approved by the Contract Administrator. B. The Contractor will be compensated for Services performed in addition to the Services described in Article III, only when the scope of and compensation for those additional Services have received prior written approval of the Contract Administrator. C. The Contractor shall keep complete records of work performed (e.g. tasks performed, hours allocated, etc.) so that the City may verify invoices submitted by the Contractor. Such records shall be made available to the City upon request and submitted in summary form with each invoice.

  • Obligations and Compensation of Dealer Manager 3.1. The Company hereby appoints the Dealer Manager as its agent and principal distributor for the purpose of selling for cash up to a maximum of $2,975,000,000 in Shares (or such other amount as the Company allocates to the primary Offering of Shares as described in the first paragraph of this Agreement) through the dealers selected to participate in the distribution of Shares in the Offering who have executed Selected Dealer Agreements with the Dealer Manager (each, a “Dealer” and, collectively, the “Dealers”), all of whom shall be members of the Financial Industry Regulatory Authority, Inc. (“FINRA”). The Dealer Manager may also sell Shares for cash directly to its own clients and customers at the public offering price and subject to the terms and conditions stated in the Prospectus. The Dealer Manager hereby accepts such agency and distributorship and agrees to use its best efforts to sell the Shares on said terms and conditions. The Dealer Manager represents to the Company that (i) it is a member of FINRA; (ii) it and its employees and representatives have all required licenses and registrations to act under this Agreement; and (iii) it has established and implemented anti-money laundering compliance programs in accordance with applicable law, including applicable FINRA rules, SEC rules, and the USA PATRIOT Act of 2001, reasonably designed to detect and cause the reporting of suspicious transactions in connection with the sale of Shares of the Company. 3.2. The Dealer Manager and the Dealers shall commence the offering of the Shares for cash to the public only in jurisdictions in which the Shares are registered or qualified for sale or in which such offering is otherwise permitted. The Dealer Manager and the Dealers will suspend or terminate offering of the Shares upon request of the Company at any time and will resume offering the Shares upon subsequent request of the Company. 3.3. Except as provided in the “Plan of Distribution” section of the Prospectus, as compensation for the services rendered by the Dealer Manager, the Company agrees that it will pay to the Dealer Manager selling commissions in the amount of 7.0% of the gross proceeds of the Class A Shares sold and 3.0% of the gross proceeds of the Class T Shares sold, plus a dealer manager fee in the amount of 2.0% of the gross proceeds of the Shares sold to the public; provided, however, that there shall be no selling commissions and no dealer manager fees paid for sales of Shares under the Company’s distribution reinvestment plan. In addition, the Company agrees that it will pay to the Dealer Manager a monthly distribution and stockholder servicing fee that will accrue daily in an amount equal to 1/365th of 0.8% of the Company’s per share NAV of Class T Shares sold, excluding Class T Shares sold pursuant to the distribution reinvestment plan. The Company will cease paying the distribution and stockholder servicing fee with respect to Class T Shares sold in the Offering at the earliest of (i) the end of the month in which the transfer agent, on behalf of the Company, determines that total selling commissions and distribution and stockholder servicing fees paid by a stockholder within his or her individual account would be equal to 7.0% of the stockholder’s total gross investment amount at the time of the purchase of the primary Class T shares held in such account; (ii) the date on which the aggregate underwriting compensation from all sources equals 10.0% of the gross proceeds from the sale of Shares, excluding Shares sold pursuant to the distribution reinvestment plan; (iii) the fifth anniversary of the last day of the month in which the Offering (excluding the offering of shares pursuant to the Company’s distribution reinvestment plan offering) terminates; (iv) the date such Class T share is no longer outstanding; and (v) the date the Company effects a liquidity event. The distribution and stockholder servicing fee relates to the share or shares sold. Payments to the Dealer Manager shall be made by the end of the week following the week in which Shares are sold by wire transfer of immediately available funds to an account designated by the Dealer Manager. Notwithstanding the foregoing, the Dealer Manager will reallow all of the selling commissions to Dealers. The Dealer Manager also may reallow all or a portion of the dealer manager fee and the distribution and stockholder servicing fee to Dealers; provided, however, that with respect to any individual investment, the Dealer Manager will not re-allow the related distribution and stockholder servicing fee to a Dealer if such Dealer ceases to hold the account related to such investment. In addition, the Dealer Manager will not reallow the distribution and stockholder servicing fee to any Dealer if such Dealer has not executed a Participating Dealer Agreement with the Dealer Manager or if the Dealer’s previously executed Selected Dealer Agreement with the Dealer Manager is terminated. In any instance in which the Dealer Manager does not re-allow the distribution and stockholder servicing fee to a Dealer, the Dealer Manager will return such fee to the Company. If, for any reason, a sale is cancelled or rescinded, the Dealer Manager shall return to the Company the selling commission, the dealer manager fee and the distribution and stockholder servicing fee paid to it with respect to such sale. The Company will not be liable or responsible to any Dealer for direct payment of commissions to such Dealer, it being the sole and exclusive responsibility of the Dealer Manager to make payment of commissions to Dealers. Notwithstanding the above, at its discretion, the Company may act as agent of the Dealer Manager by making direct payment of commissions to such Dealers without incurring any liability therefore. 3.4. The Dealer Manager shall use and distribute, in conjunction with the offer and sale of any Shares, only the Prospectus and such sales literature and advertising as shall have been previously approved in writing by the Company. 3.5. The Dealer Manager acknowledges that the Company may reimburse its advisor for underwriting expenses not covered by the selling commissions, dealer manager fee and distribution and stockholder servicing fee set forth in Section 3.3, but only to the extent that the total of such reimbursements for underwriting expenses and the selling commissions, dealer manager fee and distribution and stockholder servicing fee set forth in Section 3.3 is no more than 10.0% of the gross offering proceeds of the Shares sold in the Offering, excluding proceeds from the distribution reinvestment plan. In no event will total underwriting compensation exceed 10.0% of the gross proceeds of the Shares sold in the Offering, excluding proceeds from the distribution reinvestment plan.

  • Compensation for Consulting Services For each quarter (i.e., three-month period) that Executive provides consulting services to MediciNova pursuant to the option of MediciNova contained in Section 9 above, MediciNova shall pay Executive a sum equal to fifteen percent (15%) of Executive’s annual Base Compensation which shall be applicable at the time of Executive’s termination of employment with MediciNova (prorated for any period of less than a quarter). The parties expressly agree that when Executive is performing consulting services for MediciNova, Executive is acting as an independent contractor. Therefore, Executive shall be solely liable for Social Security and income taxes that result from Executive’s compensation as a consultant. In addition, Executive shall not be entitled to any other benefits including, without limitation, such group medical, life and disability insurance and other benefits as may be provided to employees and/or executives of MediciNova.