Compensation of Partners. No payment will be made by the Partnership to any Partner or to any Affiliate thereof for any services performed for the Partnership by such Partner or any member, shareholder, director or employee of such Partner or any Affiliate of such Partner.
Compensation of Partners. 26 7.2 Services..............................................................................26 7.2.1
Compensation of Partners. Except as may be specifically provided in this Agreement or in any other written agreement, no Partner shall receive any salary, fee or draw for services rendered to or on behalf of the Partnership.
Compensation of Partners. Partners shall be entitled to draw against their percentage of the estimated Net Income of the Firm for the applicable fiscal year as such percentage is established by the Percentage Draw Committee from time to time. No partner shall be entitled to draw more than such established percentage, and should the actual Net Income of the Firm for the applicable fiscal year be less than the estimated Net Income upon which the percentage draw of the partner was based, the difference between the amount to which the partner would have been entitled based upon actual Net Income and the amount actually drawn by the partner shall be carried upon the books of account of the Firm as a loan to such partner, to be repaid as the Executive Committee and the Percentage Draw Committee, acting as a single committee, shall by a two-thirds vote determine. [COMMENT: In providing for partnership draws, many firms assume that each year will always produce net income. For some firms, in some economic times, that may not be true. Consequently, if the firm is to borrow money in a particular year, then the funds forwarded to the partners should be considered loans to them and a method of repayment should be adopted to parallel the firm's obligations. Alternatively, the agreement can provide that there will be no partnership draws in any year in which the firm fails to have sufficient net income.]
Compensation of Partners. 3.4.1 Except as may be expressly provided herein or hereafter agreed upon by the Partners, no payment will be made by the Partnership to any Partner for the services of such Partner.
3.4.2 Each of the Partners shall be reimbursed by the Partnership for authorized reasonable out‑of‑pocket expenses incurred by such Partner in connection with the business and affairs of the Partnership.
Compensation of Partners. No Partner shall receive compensation for the services it performs for the Partnership. However, each Partner shall be reimbursed for actual substantiated expenditures incurred in administration of the Partnership's business.
Compensation of Partners. Unless determined otherwise by the vote of a majority in interest of the Partners, no Partner shall receive any compensation, salary, fee, draw or guaranteed payment under Code Section 7.07(c) for services rendered to or on behalf of the Partnership or otherwise in his capacity as a Partner, unless specifically provided otherwise in this Agreement or subsequently agreed to in writing by all the Partners.
Compensation of Partners. No Partner shall be entitled to separate compensation for services as Partner.
Compensation of Partners. Except as may be specifically provided in this Agreement or in any other written agreement, no Partner shall receive any salary, fee or draw for services rendered to or on behalf of the Partnership. [*] DESIGNATES PORTIONS OF THIS DOCUMENT THAT HAVE BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED SEPARATELY WITH THE COMMISSION.
Compensation of Partners. 3.8.1 X shall construct improvements on the Property as general contractor for a fee of ten percent (10%) of all project costs, excluding financing fees, sales, advertising, and promotion expenses. Except for this fee, no payment will be made by the Joint Venture to any Partner for the services of such Partner except pursuant to a written agreement specifying the terms of such services and compensation.
3.8.2 X shall be reimbursed for all legal, accounting, and organizational costs incurred in connection with the Joint Venture prior to the date hereof. In the future, each of the Partners shall be reimbursed by the Joint Venture for authorized reasonable out-of-pocket expenses incurred by such Partner in connection with the business and affairs of the Joint Venture.
