Common use of Compensation of Developer Clause in Contracts

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 determined by BCOI subject to the prior written approval of Owner and the Facility Lender.

Compensation of Developer. Subject to adjustments and the adjustments, terms and conditions as expressly provided in this Agreement, as consideration for Developer's services provided under this Agreement, BCOI Monroe agrees to pay to Developer the fees set forth on EXHIBIT "FE" (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 its Affiliates are not in default under any other agreements and contracts with BCOI Monroe or any of its Affiliates or Owner MPT 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 Monroe and any of its affiliatesAffiliates, or Owner or any of its affiliates, eighty fifty percent (8050%) of the Developer Fees shall be paid on the execution of this Agreement, forty percent (40%) of the Developer Fees shall be prorated over ten twelve (1012) months and paid in equal monthly installments commencing on September October 15, 2005. Such monthly installments shall continue thereafter so long as the requirements set forth in subitems sub items (i) through (iviii) of this Article 5 6 are met and so long as (a) the requirements for funding under the Funding Agreement are satisfied. The remaining twenty ten percent (2010%) of the Developer Fees along with the bonus described on EXHIBIT "F" hereto (the "Developer Bonus").shall shall be paid to Developer upon the satisfaction of all conditions to the Final Funding under the Funding Agreement. So long as the requirements set forth in sub items (i) through (iii) of this Article 6 are and remain satisfied, and the requirements for funding under the Funding Agreement are and remain satisfied, the developer fee to be paid for Post-Construction Development Services of Two Hundred Fifty Thousand Dollars ($250,000.00) (the "Developer Bonus"), shall be paid to Developer upon the later of the completion of all Post-Construction Development Services, as set forth in Section 3.4 hereof, or December 31, 2007. 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 determined by BCOI subject to the prior written approval of Owner and the Facility Lender.this