Assigned Fees. As consideration for the Advisor Sub’s appointment to provide and perform the Services, the General Partner hereby assigns and transfers to the Advisor Sub all of its right, title and interest in and to the Assigned Fees and each installment thereof. The General Partner shall direct the Partnership to pay the Assigned Fees directly to Advisor Sub. As a result of the payment of the Assigned Fees pursuant to this Section 2, the fees payable to the Advisor under the Advisory Agreement will be reduced by the product of (a) the Assigned Fees paid to the Advisor Sub, and (b) the percentage interest of the Partnership owned by IPT or any entity in which IPT directly or indirectly owns an interest.
Appears in 2 contracts
Samples: Partnership Agreement (BLACK CREEK INDUSTRIAL REIT IV Inc.), Partnership Agreement (Industrial Property Trust Inc.)
Assigned Fees. As consideration for the Advisor Sub’s appointment to provide and perform the Services, the General Partner hereby assigns and transfers to the Advisor Sub all of its right, title and interest in and to the Assigned Fees and each installment thereof. The General Partner shall direct the Partnership to pay the Assigned Fees directly to Advisor Sub. As a result of the payment of the Assigned Fees pursuant to this Section 23, the fees payable to the Advisor under the Advisory Agreement will be reduced by the product of (a) the Assigned Fees actually paid to the Advisor SubAdvisor, and (b) the percentage interest of the Partnership owned by IPT or any entity in which IPT directly or indirectly owns an interestaffiliates.
Appears in 2 contracts
Samples: Amended and Restated Agreement (BLACK CREEK INDUSTRIAL REIT IV Inc.), Second Amended and Restated Agreement (Industrial Property Trust Inc.)
Assigned Fees. As consideration for the Advisor SubAdvisor’s appointment to provide and perform the Services, the General Partner hereby assigns and transfers to the Advisor Sub all of its right, title and interest in and to the Assigned Fees and each installment thereof. The General Partner shall direct the Partnership to pay the Assigned Fees directly to Advisor SubAdvisor. As a result of the payment of the Assigned Fees pursuant to this Section 2, the fees payable to the Advisor under the Advisory Agreement will be reduced by the product of (a) the Assigned Fees actually paid to the Advisor SubAdvisor, and (b) the percentage interest of the Partnership owned by IPT or any entity in which IPT directly or indirectly owns an interestaffiliates.
Appears in 1 contract
Samples: Amended and Restated Agreement (Industrial Property Trust Inc.)
