Advances for Developer Fee Sample Clauses

Advances for Developer Fee. Notwithstanding anything herein to the contrary, Xxxxxx shall not be obligated to advance any proceeds of the Loan in payment of or reimbursement for any portion of the Developer Fee payable to Borrower as shown on the Budget, so long as any Default or Event of Default has occurred and remains uncured. In addition, payments for Developer Fee shall not exceed the Permitted Developer Fee Payment.‌

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Advances for Developer Fee. Notwithstanding anything herein to the contrary, Majority Owner shall not be obligated to consent to Bond Trustee’s advance any proceeds of the Loan (or make any disbursement of any amounts on deposit in the Borrower’s Funds Account) for payment of or reimbursement for any portion of the developer fee payable to Borrower as shown on the Budget, so long as any default or Event of Default has occurred and remains uncured. In addition, payments for developer fee shall not be made from any source, exceed the amounts, or be made at any time except as set forth on Exhibit F attached hereto (the “Permitted Developer Fee Payments”). In addition, prior to the Conversion Date, no distribution of net operating income for the Project shall be made to Borrower, Guarantor, or any partner or affiliate of Borrower or Guarantor for any purpose, other than (i) Permitted Developer Fee Payments in strict accordance with the Budget, (ii) asset management fees due to any limited partner under the Partnership Agreement, or (iii) management fees made in accordance with the terms and conditions set forth in the Assignment of Management Agreement and the Partnership Agreement (“Permitted Management Fees”). After the Conversion Date, no distributions of net operating income from the Project shall be made to Guarantor, or any partner or affiliate of Borrower or Guarantor during any period when the Debt Service Coverage Ratio (as defined in the Note) for the Project is less than 1.00 to 1.00. In the event the Debt Service Coverage Ratio is at least 1.00 to 1.00 for any calendar year period, distributions of net operating income from the Project (after payment of debt service and provided that all required reserves are fully funded) shall be permitted, but only to the extent that, on a pro forma basis, the Debt Service Coverage Ratio (as defined in the Note) for the calendar year period would have not been less than 1.00 to 1.00 had the amount of the then proposed distribution been treated as a reduction in the amount of operating income generated by the Project for purposes of determining net operating income for the same period.

Related to Advances for Developer Fee

Subcontract Costs Payments made by the Construction Manager to Subcontractors in accordance with the requirements of the subcontracts.
Temporary Credit for Unamortized Specified Road Construction Cost When, under B8.33, Contracting Officer orders a delay or interruption of Purchaser’s Operations for more than 30 days when scheduled operations would be occurring but for the order, the Contracting Officer shall credit the unamortized cost of Specified Roads to Purchaser’s Timber Sale Account, upon the written request of Purchaser or at the discretion of Contracting Officer. The amount credited to Purchaser shall be limited to stumpage paid above Base Rates. Any Specified Road construction cost credited to Purchaser pursuant to this Subsection may be refunded or transferred at the request of Purchaser. However, if Purchaser has outstanding debt owing the United States, Contracting Officer must apply the amount of credit that could be refunded to the debt owed in accordance with the Debt Collection Improvement Act of 1996, as amended. Upon written notice from Contracting Officer that the basis for the delay or interruption no longer exists, Purchaser shall pay for timber a per unit amount, in addition to Current Contract Rates, that is equal to the amount credited to Purchaser’s Timber Sale Account divided by 80 percent of the estimated remaining volume of the contract, until the full amount credited to Purchaser has been returned.
Payment of Extraordinary Education Related Expenses Section 5.1. PAYMENT OF EXTRAORDINARY EDUCATION-RELATED EXPENSES. In addition to the amounts determined pursuant to Articles IV and VI of this Agreement, Applicant on an annual basis shall also indemnify and reimburse District for all non-reimbursed costs, certified by the District’s external auditor to have been incurred by the District for extraordinary education-related expenses directly and solely related to the project that are not directly funded in state aid formulas, including expenses for the purchase of portable classrooms and the hiring of additional personnel to accommodate a temporary increase in student enrollment caused directly by such project. Applicant shall have the right to contest the findings of the District’s external auditor pursuant to Section 4.9 above.
COMPENSATION FOR CONSTRUCTION PHASE SERVICES 5.1 For the Construction Manager’s performance of the Work as described in Section 2.3, the Owner shall pay the Construction Manager the Contract Sum in current funds. The Contract Sum is the Cost of the Work as defined in Section 6.1.1 plus the Construction Manager’s Fee.
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Compensation to Engineer A. City agrees to pay to Engineer for all services outlined in Section III, a base design fee in an amount not to exceed $254,160.00. The following services are not included in this base fee:
Cost Recovery Fee You understand and agree that in order for XOOM to offer and fulfill its fixed rate obligation to you, it has to purchase electricity in advance of usage in amounts needed to cover the full term of this Agreement. If you cancel this Agreement early, you will be responsible for paying the cost recovery fee (“Cost Recovery Fee”) set forth in the Contract Summary, which is intended not as a penalty, but simply to offset the cost of selling the unused portion of your electricity to others and estimated lost revenue that XOOM may incur from such a sale, if any, and related expenses. It will take time for your local utility company to cancel your XOOM account. During that time you agree to pay for the electricity you consume that is supplied by XOOM.
Rental Rates and Wage Rates for Change Orders As soon as is practical, but prior to the completion of the Construction Preparation Period and in any event prior to the commencement of any Work on the Site, the Contractor shall submit in accordance with the style and format of a specimen to be furnished by the Owner for consideration of the Owner the following: (1) a proposal for rental rates on heavy construction equipment that shall apply in the event Change Order Work is performed, and (2) a proposal for wage rates for the types of project labor that shall apply in the event of the execution of any Change Order Work. Under penalty of false swearing, a principal of the contracting firm shall certify that the proposal for rental rates and proposal for wage rates do not exceed current costs for like services. The Owner will in no event consider a rental rate in excess of eighty percent of the rate set forth in the latest edition of the "Compilation of Nationally Averaged Rental Rates for Construction Equipment" of the Associated Equipment Distributors unless the rates proposed in excess of eighty percent are supported by proof satisfactory to the Owner that the excess rates are reasonable. If the equipment is owned by the Contractor the costs shall be charged at a maximum of eighty percent of market monthly rental rates for the amount of time used. If applicable, transportation costs may be included. The decision of the Owner shall be final, binding and conclusive on all parties. Rental rates shall be payable only for the actual time the equipment is required on the Site.
Cash Advance Fee If you request a Cash Advance, in addition to the Interest Charge which will accrue on the Cash Advance, you agree to pay a fee of three percent (3%) of the amount of the Cash Advance subject to a minimum fee of $10.00.