Common use of Construction and Development Fee Clause in Contracts

Construction and Development Fee. A construction and development fee of 1% to 4% paid to the General Partner or its Affiliates for construction management services and/or development management services on assets held by the Partnership. The fee is calculated as a percentage of the total project costs (including both hard and soft costs). The Partnership will also reimburse the General Partner or its Affiliates for costs incurred by them in connection with such services provided to the Partnership, including a share of the Partnership’s or its Affiliates’ overhead attributable to the actual time spent in connection with providing construction and development services to the Partnership, such as employee costs, travel, rent, utilities and technology costs.

Construction and Development Fee. A construction and development fee of 1% to 4% paid to the General Partner Manager or its Affiliates for construction management services and/or development management services on assets held by the Partnership. The fee is calculated as a percentage of the total project costs (including both hard and soft costs). The Partnership will also reimburse the General Partner Manager or its Affiliates for costs incurred by them in connection with such services provided to the Partnership, including a share of the Partnership’s or its Affiliates’ overhead attributable to the actual time spent in connection with providing construction and development services to the Partnership, such as employee costs, travel, rent, utilities and technology costs.