Common use of Incentive Management Fee Clause in Contracts

Incentive Management Fee. Owner shall pay Manager an annual fee (payable on a monthly basis) equal to five percent (5%) of the Net Cash Flow and Net Capital Proceeds from the Project which, if distributed to the partners of Owner, would not result in a breach or default under any Property Financings or other material agreements with unaffiliated third parties (other than affiliates of Manager) relating to the Property to which Owner is a party, and would not otherwise violate any applicable law.

Incentive Management Fee. Owner shall pay Manager an annual fee (payable on a monthly basis) equal to five percent (5%) of the Net Cash Flow and Net Capital Events Proceeds from the Project which, if distributed which are actually distributable to Xxxxxx X. Xxxxxxx III (the "Executive") or any entity owned by the Executive (to the partners extent of Ownerthe Executive's ownership in such entity), would not result in a breach or default under any Property Financings or other material agreements with unaffiliated third parties (other than affiliates of Manager) relating to the Property to which Owner is a party, and would not otherwise violate any applicable lawat Executive's discretion.