Compensation to Developer. District agrees to pay Developer the amount of Two Thousand Five Hundred Dollars ($2,500.00), for the performance of the Services contemplated by this Agreement, as indicated in Attachment “C” (“Services: Costs & Schedule”). Developer shall be responsible for all costs and expenses including the costs of hiring sub-consultants and other professionals to perform the Services, travel expenses to the Project site as well as for meetings with District and its representatives, long distance telephone charges, copying expenses, salaries of Developer’s staff and employees working on the Project, overhead, and any other reasonable expenses incurred by Developer in performance of the Services contemplated by this Agreement. Developer shall submit the names of all proposed sub-consultants to District in writing for the District’s prior approval.
Compensation to Developer. In consideration of DEVELOPER’s performance of services hereunder, DISTRICT agrees to: Reimburse DEVELOPER in the total amount not to exceed Dollars ($ ), for the performance of services contemplated by this Agreement. DEVELOPER shall be paid monthly for the actual fees and allowed costs and expenses for all time and materials required and expended for work requested and specified by the DISTRICT as completed. Said amount shall be paid within thirty (30) days upon submittal to and verification by the DISTRICT of a monthly billing statement showing completion of the tasks for that month on a line item basis. In the event DEVELOPER and DISTRICT enter into the lease/leaseback agreements for the development of the Project, this compensation for services rendered will be included as part of the Guaranteed Maximum Price to be paid to DEVELOPER by DISTRICT. DEVELOPER shall be responsible for any and all costs and expenses incurred by DEVELOPER, including but not limited to the costs of hiring sub-consultants, sub-contractors and other professionals, review of the Project’s Plans and Specifications, review and preparation of necessary documentation relating to the development of the Project, all travel-related expenses, as well as for meetings with DISTRICT and its representatives, long distance telephone charges, copying expenses, salaries of DEVELOPER staff and employees working on the Project, overhead, and any other reasonable expenses incurred by DEVELOPER in performance of the services contemplated by this Agreement.
Compensation to Developer. The Authority shall pay to Developer as compensation forthe services set forth herein, a fee in the amount of Fourteen Million Dollars ($14,000,000) (the "Development Fee"). The Development Fee shall be paid as follows: on January 15, 2000 and thereafter within fifteen (15) days following the end of each calendar quarter until the Completion Date, the Authority shall pay to Developer a percentage of the Development Fee equal to the completion percentage of the Project certified by Developer as of December 31, 1999 and the end of each successive calendar quarter. The Authority shall make payments of the Development Fee to Developer upon receipt of an application for payment from Developer, which statement shall include evidence of satisfaction of the foregoing conditions to payment.
Compensation to Developer. If IFA issues Notice of termination of this Agreement due to a Default Termination Event, or if Developer terminates this Agreement on grounds or in circumstances beyond Developer’s termination rights specifically set forth in this Agreement, Developer will be entitled to compensation to the extent (if any), and only to the extent, provided in Section 3 of Exhibit 22 (
Compensation to Developer. If the Department issues a notice of termination of this Agreement and the Lease due to a Default Termination Event, Developer will be entitled to compensation in an amount equal to:
19.3.2.1 If this Agreement and the Lease are terminated by the Department pursuant to Section 19.3.1 (but excluding a termination due to a Default Termination Event under Section 19.3.1.5) before the Substantial Completion Date, the Department shall pay compensation to Developer in an amount calculated as follows (calculated at the Early Termination Date and without double-counting):
1. The lesser of (a) Project Adjusted Costs, or (b) the costs as shown in the Schedule of Values (as such Schedule of Values may be adjusted for Relief Events), corresponding to the percentage of such Work completed as of the Early Termination Date, excluding (i) interest and other financing costs, professional and advisory fees, and (ii) Developer overhead and administrative expenses; plus
2. The lesser of (a) the actual costs incurred in performing the O&M Work, or (b) the O&M Work costs shown in the O&M Work budget for the Construction Period (as such O&M Work budget may be adjusted for Relief Events), corresponding to the percentage of the O&M Work completed as of the Early Termination Date, excluding from both items (a) and (b) the (i) interest and other financing costs, professional and advisory fees, and (ii) Developer overhead and administrative expenses; minus the sum of subsections (3) and (4) below:
3. Subject to Section 18.2.11, the amount of any Losses recoverable by the Department under the Contract Documents resulting from the Developer Default, including the projected costs required to remedy any defective part of the Work, to rectify any breach by Developer and/or to bring the condition of the Project to the standard it would have been in if Developer had complied with its obligations to carry out and complete the Work in accordance with its obligations under the Contract Documents as of the Early Termination Date, as well as the costs of replacing Developer; and
4. Any amounts previously paid by the Department to Developer under the Agreement. However, if the sum of subsections (1) and (2) above is less than [80% or less] of the Project Debt Termination Amount, Developer will be entitled to compensation of [80% or less] of the Project Debt Termination Amount minus the sum of subsections (3) and (4) above.
19.3.2.2 If this Agreement and the Lease are terminated by the Department p...
Compensation to Developer. 8.1 Subject to the terms and conditions of this Agreement and the Payment Conditions (defined below), for each tax year commencing with the “Initial Reimbursement Tax Year”, defined as FY2022, and then continuing annually for a total of ten (10) consecutive tax years throughout the remainder of the Term of this Agreement or until the Maximum Reimbursement Amount (defined below) is disbursed, whichever comes first, City and TIRZ shall provide Developer payment as follows:
(a) For FY 2022 and FY2023, Developer may request reimbursement (the “Public Improvement Cost Reimbursement”) in an amount equal to
(i) the Eligible Public Improvement Costs (as hereinafter defined) incurred by Developer up to a cumulative TWO MILLION DOLLARS AND NO CENTS ($2,000,000) (“Maximum Reimbursement Amount”), not to exceed $1,000,000 per year, which shall be paid from the Midtown TIRZ Fund’s Available Tax Increment.
Compensation to Developer. The Terms by which eligible Project Costs will be reimbursed are as follows:
Compensation to Developer. 5.3.1 Reimbursement will be made available in the following maximum amounts during the fiscal years set forth below. FY 2022: $100,000 FY 2023: $100,000 FY 2024: $100,000 FY 2025: $100,000 FY 2026: $100,000 FY 2027: $100,000
Compensation to Developer. Other than the fees and payments provided for in Section 2 hereof, PLI shall not be responsible or required to pay axx xxxxx xxxx xx xxxxensation to Developer for the Final Sites.
Compensation to Developer
