Deferred Developer Fee Sample Clauses

Deferred Developer Fee. Owner agrees to defer its receipt of a portion of the Developer Fee, in the amount of $600,000 (the “Deferred Developer Fee”), which amount is subject to adjustment by the Mayor in accordance with the City Note. The Deferred Developer Fee constitutes that portion of the Developer Fee to be paid to Owner from Borrower’s Share of Residual Receipts, with the balance of the Developer Fee in the amount of $1,400,000 payable to Owner during construction of the Project, in accordance with the following schedule of disbursements or pursuant to the Construction Lender’s schedule of disbursements, it being agreed that the schedule of disbursement to be followed for each milestone set forth below shall be whichever schedule of disbursement (City’s or Construction Lender’s) is more restrictive at each such milestone such that the following schedule of disbursements is the maximum disbursement of fees at each milestone:
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Deferred Developer Fee. No interest may be charged or collected on the deferred developer fee (referred to as the Development Fee in the Partnership Agreement).
Sample 1
Deferred Developer Fee. Any portion of the Developer Fee, as set forth in the Project Budget in an amount not to exceed $375,000, which is not paid from other Project sources and must be deferred and paid to the extent available from (i) the gross cash flow of the Project; (ii) Cost Savings pursuant to the paragraph entitled “Cost Savings” of Section 2.2.b of this Method of Financing; or (iii) Additional Proceeds pursuant to the paragraph entitled “Additional Proceeds” of Section 2.2 .b of this Method of Financing.”
Sample 1
Deferred Developer Fee. Payment of a portion of the Developer Fee shall be deferred through completion of the Project (“Deferred Developer Fee”), with the balance of the Developer Fee payable to Developer during construction of the Project, in accordance with the following schedule of disbursements: i. 25% upon Closing; ii. 25% upon 50% Completion of construction of Improvements;
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Deferred Developer Fee. [insert]
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Deferred Developer Fee. Borrower agrees to make payments towards the Deferred Developer Fee according to the terms and conditions in Section 1.2.2 of the Note.
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Related to Deferred Developer Fee

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  • Attendance Incentive Program In January of the year following any year in which a minimum of sixty (60) days of leave for illness or injury is accrued, and each January thereafter, any eligible employee may exercise an option to receive remuneration for unused leave for illness or injury accumulated in the previous year at a rate equal to one (1) day of monetary compensation of the employee for each four (4) full days of accrued leave for illness or injury in excess of sixty (60) days. Leave for illness or injury for which compensation has been received shall be deducted from accrued leave for illness or injury at the rate of four (4) days for every one (1) day of monetary compensation; provided, however, no employee shall receive compensation under this section for any portion of leave for illness or injury accumulated at a rate in excess of one (1) day per month. At the time of separation from school district employment due to retirement or death an eligible employee or the employee's estate shall receive remuneration at a rate equal to one (1) day of current monetary compensation of the employee for each four (4) full days accrued leave for illness or injury. The provisions of this section shall be administered in accordance with state law and applicable state rules and regulations. Should the legislature revoke any benefits granted under this section, no affected employee shall be entitled thereafter to receive such benefits as matter of contractual right.

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  • Deferred Compensation Program ‌ Unit members shall continue to be eligible to join the County’s Deferred Compensation Plan. Said employees will be bound by the same Plan, rules and participation agreements as are generally applicable to other County employees. DSA acknowledges that County retains the right to alter, amend, or repeal the current plan, rules, and participation agreements, at any time. The County shall not charge an administrative fee to participating employees.

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