Construction Management Fees. For each Property for which Manager provides construction management services, Manager shall be entitled to fees as follows:
Construction Management Fees. The Advisor shall receive a Construction Management Fee for its effort in overseeing any construction, development, re-development or renovation work on the Company’s Projects, with such fee calculated as 1% of the amount of expended in connection with such work.
Construction Management Fees. For each Property for which Manager provides construction management services, Manager shall be entitled to fee from Owner equal to a percentage of the cost of tenant improvements, as determined by the Board of Directors of The GC Net Lease REIT, in its sole discretion (the “Construction Management Fee”). The Construction Management Fee shall equal 5% of the cost of such improvements. Owner shall ensure that any Lease or Lease renewal contains a provision requiring tenant to pay Manager a comparable Construction Management Fee for any tenant-paid finish-out or improvements not covered by such Lease concessions (i.e., paid by tenant).
Construction Management Fees. “Construction Management Fees” shall mean the “Construction Management Fee” as defined in the Construction Management Agreement.
Construction Management Fees. For each Property for which Manager provides construction management services, Manager shall be entitled to fee from Owner equal to a percentage of the cost of tenant improvements, as determined by the Board of Directors of the REIT, in its sole discretion (the “Construction Management Fee”). The Construction Management Fee shall equal five percent (5%) of the total cost of such improvements if the cost is less than or equal to One Hundred Thousand Dollars ($100,000) and three percent (3%) of the total cost of such improvements if the cost exceeds One Hundred Thousand Dollars ($100,000). Owner shall ensure that any Lease or Lease renewal contains a provision requiring tenant to pay Manager a comparable Construction Management Fee for any tenant-paid finish-out or improvements not covered by such Lease concessions (i.e., paid by tenant).
Construction Management Fees. At such time, if at all, as the Company or an Investment Entity shall acquire an REO Property, the Managing Member or its Affiliate shall be entitled to receive a construction management fee from the Company or the applicable Investment Entity equal to 3% of the gross construction costs relating to all construction projects and tenant improvements at such REO Property.
Construction Management Fees. Five Percent (5%) of the cost of any capital project exceeding $10,000 (which items have been approved by Owner and have been itemized in the approved Budget) but not including regular recurring interior capital replacements such as carpet, floor vinyl and appliance replacements. Additionally, if the services of a capital projects manager is required and has been approved by Owner, such capital projects manager will charge to the Property $40.00 per hour for time worked plus travel time, travel expenses and accommodations expenses.
Construction Management Fees. There will be no fees added on to actual costs by Lessor, its construction manager or the property manager for administration of Lessor’s Work, Improvements and architectural/engineering services.
Construction Management Fees. The construction management fees shall be calculated based on 5% of the Direct Development Costs of the Xueling Project, which is estimated to be RMB18,600,000 and shall be paid in equal instalments on a quarterly basis based on the construction cycle of the Xueling Project (temporarily 10 quarters) until it amounts to 90% of the temporary amount of the construction management fees, being an average payment of RMB1,670,000 per quarter. Such payment shall be made in the third month of each quarter. The annual cap of the construction management fees shall be RMB9,000,000 (RMB1,670,000 per quarter multiplied by 4 quarters, plus 10% of the contractsum, and plus 5% of the construction management fees as buffer (i.e. RMB1,670,000 x 4 + RMB9,949,000 x 10%) x 105%). The construction management fees shall be settled by the parties based on the settlement price within 30 calendar days upon receipt of the completion certificates (項目竣工備案證明) in respect of the Xueling Project and completion of full settlement under the Xueling Entrusted Construction Agreement. The construction management fees are subject to adjustment based on the target cost after it has been approved by the Heshan Construction. Payment of the construction management fees shall be made based on the adjusted amount. The construction management fees were determined on arm’s length basis by reference to the prevailing market rates of project management services provided to independent third parties, as well as the services, quantity and nature of services to be provided by Zhaocheng Engineering to Heshan Construction. Annual Caps The annual caps of the construction management services to be provided by Zhaocheng Engineering to Heshan Construction under the Xueling Entrusted Construction Agreement are as follows: Financial Year/Period Annual Cap of Construction management Service 1 July 2016 to 31 December 2016 RMB4,500,000 1 January 2017 to 31 December 2017 RMB9,000,000 1 January 2018 to 31 December 2018 RMB9,000,000 1 January 2019 to 30 June 2019 RMB4,500,000 Reasons for Continuing Connected Transactions The “Xueling Village Redevelopment Resettlement Housing (薛嶺舊村改造安置房)” is located in Xiamen, Fujian Province, the PRC, which consists of the resettlement housing projects for residential development. The entering into of the Xueling Entrusted Construction Agreement not only leverages Zhaocheng Engineering’expertise and experience in project management, but also ensures that the Group’s consistent quality s...
Construction Management Fees. Deleted.
