Acquisition Fees and Expenses. Subject to the following sentence, the Fund shall pay to the Advisor, as compensation for services rendered by the Advisor in connection with the investigation, selection and acquisition (by purchase, investment or exchange) of Investments, with the exception of loans for which a Origination Fee shall be paid as described in Section 9(b) hereof (the “Paladin Acquisition Fee”), in an amount equal to 1.5% of (1) the Purchase Price of a Real Property Investment acquired directly; (2) the Fund’s allocable cost of a property acquired in a joint venture or (3) with respect to Real Estate Related Investments, the funds advanced for such investment. The Fund’s allocable cost of a joint venture investment shall equal the product of (i) the amount actually paid or allocated to the purchase, development, construction or improvement of properties by the joint venture, inclusive of expenses related thereto, and the amount of outstanding debt associated with such properties and the joint venture, and (ii) the Fund’s percentage economic interest in the joint venture. The total of all Acquisition Fees (including the Paladin Acquisition Fee) and any Acquisition Expenses incurred by the Advisor and reimbursed by the Company in accordance with Section 10(a)(ii) hereof shall not exceed an amount equal to 6.0% of (i) for any Investment acquired by the Fund directly or indirectly other than a Real Estate Related Investment, the Purchase Price of the underlying property, and (ii) for any preferred equity securities acquired by the Fund directly or indirectly, 6.0% of the amount of the underlying investment in preferred equity securities. The Paladin Acquisition Fee payable with respect to the acquisition of any Investment shall be paid to the Advisor by the Fund at the time of such acquisition. The Advisor may elect, in its sole discretion, to defer (without interest) payment of any Paladin Acquisition Fee by providing written notice of such deferral to the Fund.
Acquisition Fees and Expenses. The Advisor may receive, as compensation payable by the Company for services rendered in connection with the investigation, selection and acquisition (by purchase, investment or exchange) of Properties, Acquisition Fees in an amount equal to up to 3.0% of Gross Proceeds and Acquisition Expenses in an amount equal to up to 0.5% of Gross Proceeds.
Acquisition Fees and Expenses. (a) As compensation for acquisition and financing services to be rendered directly to the Partnership by Captec Net Lease Realty Advisors, Inc., a Delaware corporation that is affiliated with the General Partner through overlapping ownership and common corporate officers, (the "Advisor"), the Partnership shall pay directly to the Advisor, Acquisition Fees equal to the lesser of (1) 2.0% of Gross Proceeds plus an additional .0624% ("Debt Fee") for each 1% of indebtedness (calculated as the aggregate amount of Partnership indebtedness secured by Partnership Assets as a percentage of the aggregate Purchase Prices of such Assets) (2) 3.0% of the aggregate Purchase Prices of Properties and/or Equipment acquired by the Partnership, or (3) compensation customarily charged in arms-length transactions by others rendering similar services as an on-going activity in the same geographic location for property or equipment comparable to the Property or Equipment to be purchased by the Partnership. The Advisor shall pay all Acquisition Expenses from amounts received as Acquisition Fees.
Acquisition Fees and Expenses. (a) As compensation for acquisition and financing services to be rendered directly to the Partnership by Captec Net Lease Realty Advisors, Inc., a Delaware corporation that is affiliated with the General Partner through overlapping ownership and common corporate officers, (the "Advisor"), the Partnership shall pay directly to the Advisor, Acquisition Fees equal to the lesser of (1) 2.0% of Gross Proceeds plus an additional .0677% ("Debt Fee") for each 1% of indebtedness (calculated as the aggregate amount of Partnership indebtedness secured by Partnership Assets as a percentage of the aggregate Purchase Prices of such Assets) (2)3.0% of the aggregate Purchase Prices of Properties and/or Equipment acquired by the Partnership, or (3) compensation customarily charged in arms-length transactions by others rendering similar services as an on-going activity in the same geographic location for property or equipment comparable to the Property or Equipment to be purchased by the Partnership. The Advisor shall pay all Acquisition Expenses from amounts received as Acquisition Fees. Although the Debt Fee is included within the definition of Acquisition Fees in calculating the 3.0% limitation, the Debt Fee will be paid out of proceeds of indebtedness rather than from Gross Proceeds.
