Development Fee. If the Advisor or an Affiliate of the Advisor provides development/ redevelopment related services, the Company shall pay the Advisor or the Affiliate of the Advisor, as the case may be, a Development Fee that is usual and customary for comparable services rendered for similar projects in the geographic market where services are provided; provided, however, that the Company shall not pay a Development Fee to the Advisor or an Affiliate of the Advisor if the Advisor elects to receive an Acquisition and Advisory Fee in connection with the respective development/redevelopment project.
Appears in 3 contracts
Samples: Advisory Agreement (Cole Credit Property Trust III, Inc.), Advisory Agreement (Cole Credit Property Trust III, Inc.), Advisory Agreement (Cole Credit Property Trust III, Inc.)
Development Fee. If the Advisor or an Affiliate of the Advisor provides development/ redevelopment related services, the The Company shall pay the Advisor or the Affiliate of the Advisor, as the case may be, a Development Fee Fees in amounts that is are usual and customary for comparable services rendered for to similar projects in the geographic market where services are providedmarket; provided, however, that no Development Fee will be paid in the event that the Company shall not pay a Development Fee to the Advisor or an Affiliate of the Advisor if the Advisor elects to receive pays an Acquisition and Advisory Fee in connection with based on the respective development/redevelopment projectcost of such development or construction. Development Fees will include the reimbursement of the specified cost incurred by the Advisor of engaging third parties for such services.
Appears in 2 contracts
Samples: Advisory Management Agreement (Behringer Harvard Opportunity REIT II, Inc.), Advisory Management Agreement (Behringer Harvard Opportunity REIT II, Inc.)
