Management Compensation and Fees. The Manager will not receive a salary for its services to the Company, unless otherwise approved by the Members. However, the Manager and/or its designated assigns, Affiliates of the Manager, and third parties may receive the following fees and reimbursements payable from Capital Contributions made to the Company and revenues from the Properties. Any fee or reimbursement provided for under this Section 10.9 shall be subordinate to any payments required on any loan secured by the Properties. Additionally, the Manager in its sole discretion, may suspend, delay, accrue, or forego payment of any fee unless otherwise contractually bound.
Management Compensation and Fees. The Manager will not receive a salary for its services to the Company, unless otherwise approved by the Members. However, the Manager, its Affiliates, and third parties may receive the following fees and reimbursements payable from Capital Contributions made to the Company and revenues from the Project. Any fee or reimbursement provided for under this Section 6.8 shall be subordinate to any payments required on any loan secured by the Project. The following fees will be paid before distributions of Distributable Cash to Members:
Management Compensation and Fees. The Manager will not receive a salary for its services to the Company, unless otherwise approved by the Members. However, the Manager or its Affiliates will receive reimbursement of reasonable expenses paid or incurred by the Manager or its Affiliates in connection with the Company’s operations, including any legal, financial and tax reporting, and accounting costs, which may be paid from Capital Contributions, debt, operating revenue, or reserves. The Manager may also reimburse Members of the Company for such expenses incurred by them in connection with the Company’s operations, as decided in the Manager’s sole discretion. In addition, the Manager or its Affiliates will be reimbursed the fair value for provision of professional services to the Company at reasonable commercial rates on either an hourly or per-service basis, as permitted by Section 6.3. OPERATING AGREEMENT OF ADPI FUND I, LLC
Management Compensation and Fees. The Manager will not receive a salary for its services to the Company, unless otherwise approved by the Members. Notwithstanding the foregoing, Affiliates of the Manager will receive fees as follows from the Company or its subsidiaries: ● Strata Construction Services, LLC will receive a fee equal to 5% of the total development and construction costs for each property, for its construction management services. ● Strata Property Services, LLC will receive a fee of 3% of net asset value of our Company’s properties per year, payable monthly, for administrative services including, but not limited to, payroll services, office services, bookkeeping and reporting oversight. ● Strata Capital Companies, LLC will receive a fee of 1.5% of the sales price upon the acquisition and disposition of each property for its due diligence and related services. Such fees will be paid upon the closing of each purchase and sale of a property. The Manager or its Affiliates will receive reimbursement of reasonable expenses paid or incurred by the Manager or its Affiliates in connection with the Company’s operations, including any legal, financial and tax reporting, and accounting costs, which may be paid from Capital Contributions, operating revenue, or reserves. The Manager may also reimburse Members of the Company for such expenses incurred by them in connection with the Company’s operations, as decided in the Manager’s sole discretion. In addition, the Manager or its Affiliates will be reimbursed the fair value for provision of services to the Company at reasonable commercial rates on either an hourly or per-service basis, as permitted by Section 6.3.
Management Compensation and Fees
