Compensation of Administrative General Partner Sample Clauses

Compensation of Administrative General Partner. (a) The Administrative General Partner (or its Affiliate designee) shall receive a management fee of three percent (3 %) of the gross rentals collected by the Partnership each month. Neither the Administrative General Partner (nor any Affiliate thereof) shall be entitled to receive any leasing fee or leasing renewal fee for any leases executed on behalf of the Partnership. The Management and Leasing Agreement executed in connection with the Original Partnership Agreement shall be amended to conform with the provisions of this Section 7.3(a). The Administrative General Partner shall be entitled to pay market rate leasing fees to unaffiliated third party brokers, and shall be entitled to reimbursement for any out-of-pocket expenses advanced in connection with leasing of the Property (including salary payments to Steven Aronow; and commission payments to Jay Tillman when paid on a xxxxxxxxxx xnly basis). The aggregate leaxxxx xxx (xo unaffiliated third party brokers and to "in-house" persons such as Steven Aronow and John Tillman) shall not exceed three (3%) percent. Xxxx Xxxxxxx Partxxx xxxxx xx entitled to reimbursement by the Partnership for its reasonable out-of-pocket expenses paid to unaffiliated third parties incurred on behalf of the Partnership, after approval (not to be unreasonably withheld from the other General Partner. (b) The Administrative General Partner shall not be liable to the Partnership or to the Partners for damages or otherwise for any acts performed by it within the scope of authority conferred upon it by this Agreement, except for gross negligence, malfeasance or acts in contravention of this Agreement. (c) The Administrative General Partner shall devote substantially all of its time to the handling of the affairs of the Partnership, and shall provide staffing and personnel necessary and as needed (without expense to the Partnership except for reimbursement of $1,000 per month for internal accounting overhead) to achieve completion of the Project in accordance with the revised development budget attached as Exhibit "B". The officers and directors of the Administrative General Partner shall devote such time as is reasonably necessary to the handling of the affairs of the Partnership as may be required.
Sample 1
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Related to Compensation of Administrative General Partner

  • COMPENSATION OF ADVISER The Manager will pay the Adviser an advisory fee with respect to the Allocated Portion as specified in Appendix A to this Agreement. Payments shall be made to the Adviser on or about the fifth day of each month; however, this advisory fee will be calculated daily for the Allocated Portion based on the net assets of the Allocated Portion on each day and accrued on a daily basis.

  • Compensation of Advisor For services to be provided by the Advisor pursuant to this Agreement, the Fund will pay to the Advisor, and the Advisor agrees to accept as full compensation therefor, an investment advisory fee consisting of a base fee plus a performance adjustment at the rates specified in Schedule A to this Agreement, payable quarterly in arrears.

  • COMPENSATION OF ULTIMUS The Trust, on behalf of each Fund, shall pay for the services to be provided by Ultimus under this Agreement in accordance with, and in the manner set forth in, Schedule B attached hereto, as such Schedule may be amended from time to time. If this Agreement becomes effective subsequent to the first day of a month or terminates before the last day of a month, Ultimus’ compensation for that part of the month in which the Agreement is in effect shall be prorated in a manner consistent with the calculation of the fees as set forth above. Payment of Ultimus’ compensation for the preceding month shall be made promptly.

  • Reimbursement of General Partner (a) Except as provided in this Section 6.5 and elsewhere in this Agreement (including the provisions of Articles 5 and 6 regarding distributions, payments, and allocations to which it may be entitled), the General Partner shall not be compensated for its services as general partner of the Partnership. (b) The General Partner shall be reimbursed on a monthly basis, or such other basis as the General Partner may determine in its sole and absolute discretion, for all Administrative Expenses incurred by the General Partner.

  • Compensation of the Manager For the services to be rendered by the Manager as provided in this Agreement, the Fund shall pay to the Manager a fee computed on the aggregate net asset value of the Portfolio as of the close of each business day and payable monthly at the annual rate of 0.20%. In the event that this Agreement is terminated at other than a month-end, the fee for such month shall be prorated, as applicable.

  • Compensation of the Investment Manager For the services rendered, the facilities furnished and expenses assumed by the Investment Manager, the Fund shall pay to the Investment Manager at the end of each calendar month a fee which shall accrue daily at the annual rate specified by the schedule of fees in the Appendix to this Agreement. The average daily value of the net assets of the Portfolio shall be determined and computed in accordance with the description of the method of determination of net asset value contained in the Prospectus.

  • COMPENSATION OF SUB-ADVISER The Adviser will pay the Sub-Adviser a fee with respect to each of the Portfolio(s) as specified in Appendix A to this Agreement. Payments shall be made to the Sub-Adviser on or about the fifth day of each month; however, this fee will be calculated daily for each of the Portfolio(s) based on the net assets thereof on each day and accrued on a daily basis.

  • Compensation to the Master Servicer The Master Servicer shall be entitled to receive a monthly fee equal to the Master Servicing Fee, as compensation for services rendered by the Master Servicer under this Agreement. The Master Servicer also will be entitled to any late reporting fees paid by a Servicer pursuant to its Servicing Agreement, any investment income on funds on deposit in the Certificate Account and any Liquidation Profits to which a Servicer is not entitled under its Servicing Agreement.

  • Compensation of OFI GLOBAL The Fund agrees to pay OFI GLOBAL and OFI GLOBAL agrees to accept as full compensation for the performance of all functions and duties on its part to be performed pursuant to the provisions hereof, a management fee computed on the aggregate net asset value of the Fund as of the close of each business day and payable monthly at the following annual rates:

  • Compensation to the Sub-Adviser For the services to be provided by the Sub-Adviser pursuant to this Agreement, the Adviser will pay the Sub-Adviser, and the Sub-Adviser agrees to accept as full compensation therefor, a sub-advisory fee at the rate specified in Schedule B which is attached hereto and made part of this Agreement. The fee will be calculated based on the average daily value of the Assets under the Sub-Adviser's management and will be paid to the Sub-Adviser monthly. Except as may otherwise be prohibited by law or regulation (including any then current SEC staff interpretation), the Sub-Adviser may, in its discretion and from time to time, waive a portion of its fee.

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