Common use of Subject to Section 1 Clause in Contracts

Subject to Section 1. 9.1 and any provisions to the contrary which may be required by the lender of the First Mortgage Loan, as defined in the Venture Agreement (as hereafter defined), the Partnership shall pay the Development Fee to Manager as and when earned. The parties acknowledge that the Development Fee shall be paid from funds available to the Partnership including capital contributions to the Partnership and proceeds of loans received by the Partnership from lenders for the Project and that notwithstanding any provision in this Section 1.9 to the contrary, payment of the Development Fee to the Manager as provided herein shall be made only to the extent and in the manner permitted by such lenders; provided, however, that the Partnership shall make every effort to include the Development Fee within such loans and to permit payment of the Development Fee as provided herein under the terms of such loans. The Partnership shall promptly advise Manager of any limitation or objection by its lenders with respect thereto.