Calculation of Incentive Fee. The LLC's accountants shall calculate the Incentive Fee promptly after they have sufficient information to accurately calculate Stabilized NOI. The Incentive Fee shall equal the following, provided that in no event shall the Incentive Fee exceed the Incentive Cap: a. If the Yield is 9% or less, the Incentive Fee shall equal zero; b. If the Yield is greater than 9% and less than or equal to 10%, then the Incentive Fee shall equal (A) the Target Fee, multiplied by (B) the Yield minus 9%, multiplied by (C) 100. c. If the Yield is greater than 10% and less than or equal to 11.5%, then the Incentive Fee shall equal the following: (i) the Target Fee, plus (ii) (A) the Incentive Cap minus the Target Fee, multiplied by (B) the Yield minus 10%, divided by (C) 1.5, multiplied by (D) 100. d. If the Yield is greater than 11.5%, then the Incentive Fee shall equal the Incentive Cap.
Appears in 6 contracts
Samples: Operating Agreement (Wellsford Real Properties Inc), Operating Agreement (Wellsford Real Properties Inc), Operating Agreement (Wellsford Residential Property Trust)
