Manager’s and Affiliates’ Compensation. The Manager and its Affiliates shall receive compensation from the Company for services rendered or to be rendered only as specified in this Agreement and the Management Agreement, a true copy of which is attached as Exhibit B. If any provision of the Management Agreement is inconsistent with any provision contained in this Agreement, then the provision contained in the Management Agreement shall control and the inconsistent provision herein shall be of no force or effect.
Manager’s and Affiliates’ Compensation. The Manager and its Affiliates shall receive compensation from the Company for services rendered or to be rendered only as specified in this Agreement.
Manager’s and Affiliates’ Compensation. The Manager and its Affiliates shall receive reimbursement from the Venture for services rendered only as specified in this Agreement or as set forth in the Memorandum. Any additional agreements that the Company or the Venture enters into with an Affiliate of the Manager will be at arm’s length, market terms.
6.1.1 The Manager and its Affiliates will be reimbursed by the Venture for all direct costs incurred by the Manager or its Affiliates when performing services on behalf of the Venture for certain expenses incurred with respect to the Venture or the Business and for certain indirect costs allocable to the Company.
6.1.2 The Manager will be reimbursed for all reasonable fees and expenses in connection with the pursuit and operation of the Business.
Manager’s and Affiliates’ Compensation. The Manager and its Affiliates shall receive compensation for services rendered or to be rendered only as specified in this Agreement or as set forth in the Memorandum. Any additional agreements that the Company enters into with an Affiliate of the Manager will be at arm’s length, market terms.
6.1.1 For the services it provides in connection with operating and managing the Business, including the maintenance of the Equipment which the Plant Manager shall perform in conformance with the terms in the Lease Agreement, the Plant Manager will be entitled to receive an annual plant management fee in an amount equal to $10,000 per month plus up to 2% of the gross revenues received by the Company (the “Plant Management Fee”), which will be paid on a monthly basis.
6.1.2 The Company intends to use RPC Design and Manufacturing, LLC, as a subcontractor to assist in building the Equipment. For providing the Company or its subcontractors a manufacturing license of intellectual property rights to enable the Company to purchase and manufacture the Equipment, Vivakor shall waive RPC Design and Manufacturing, LLC’s license fees, and will be entitled to receive a license fee from the Company in an amount equal to $1,000,000 per unit of Equipment purchased or manufactured by the Company (the “License Fee”).
Manager’s and Affiliates’ Compensation. The Manager and its Affiliates shall receive compensation from the Company for services rendered or to be rendered in connection with the Company’s properties only as specified in this Agreement and the Memorandum.
6.1.1 As compensation for its services, the Manager and its Affiliates shall receive on a monthly basis compensation for services rendered or to be rendered at an annual rate equal to one-and-one-half percent (1.5%) of the Company’s aggregate Capital Contributions (the “Asset Management Fee”). The Asset Management Fee will be payable monthly and in arrears commencing upon receipt of the first Capital Contributions made to the Company based on the aggregate Capital Contributions made to the Fund through and including the last day of such month (net of any Capital Contributions returned to the Class A Members pursuant to Section 5.2.2); provided, however no Asset Management Fee will accrue or be paid on Capital Contributions that are not deployed into Investments.
6.1.2 An acquisition fee equal to two percent (2%) of the purchase price of each Investment (the “Acquisition Fee”), shall be payable to the Manager by the Company; provided that at the Manager’s sole discretion, the Acquisition Fee on certain Investments may be less than 2.0% due to competitive considerations and other factors.
6.1.3 The Manager shall be compensated for its oversight of any construction or renovation of the improvements to any Investments. The construction supervision fee may be a percentage of the aggregate of all hard and soft costs for items included in the construction or renovation budget at the outset of each Investment in accordance with commercially reasonable local market standards (“Construction Management Fee”).
6.1.4 The Manager shall receive a tax and accounting management fee (the “Tax and Accounting Fee”) at an annual rate equal to one-half of one percent (0.50%) of the Company’s aggregate Capital Contributions, for accounting services, tax management and reporting of the Company’s activities. The Tax and Accounting Fee will be payable monthly and in arrears commencing upon receipt of the first Capital Contributions made to the Company based on the aggregate Capital Contributions made to the Fund through and including the last day of such month (net of any Capital Contributions returned to the Class A Members pursuant to Section 5.2.2).
6.1.5 The Manager or an Affiliate shall receive leasing fees for new tenants and leasing override fees for the renewal o...
Manager’s and Affiliates’ Compensation. (a) The Manager and its Affiliates shall receive compensation from the Company for services rendered or to be rendered only as specified in this Agreement, except that upon consummation of the Mergers, services that had been provided by the Manager to the Company which entitled the Manager to receive from the Company the origination fee, the monthly asset management fee, the monthly asset servicing fee, the disposition fee and the transaction breakup fee will instead be provided to the REIT and accordingly the fees associated with such services will be paid by the REIT to the Manager pursuant to the Management Agreement.
(b) Unless otherwise provided in the applicable Memorandum, the Company will pay the following fee and reimburse the Manager or its Affiliates (to the extent not otherwise paid or reimbursed to the Manager or its Affiliates by the REIT) for organization and offering expenses up to two percent (2.0%) of the gross proceeds raised in any Offering, which expenses include the cumulative cost of actual legal, accounting, printing, and marketing expenses such as (i) salaries and direct expenses of employees and others while engaged in the Offering, (ii) participating in due diligence, training seminars and education conferences and (iii) coordinating generally the marketing process; provided, however, unless otherwise provided in the applicable Memorandum, in the event that such expenses are less than 2.0% of the gross offering proceeds, the Manager will nonetheless receive the 2.0% reimbursement payment and will retain any remaining amount as an additional fee for services rendered in connection with the Offering. Unless otherwise provided in the applicable Memorandum, if such expenses exceed 2.0% of the gross offering proceeds, the Manager will pay any such excess.
Manager’s and Affiliates’ Compensation. No Manager, Owner or any Affiliates shall receive any compensation from the Company for services rendered or to be rendered to the Company.
Manager’s and Affiliates’ Compensation. The Managers and their Affiliates shall receive compensation from the Company for services rendered or to be rendered only as set forth on Exhibit C, provided, however, that the compensation for the Initial Manager shall be established by the Court and may be changed only by the Court. Any increase in the compensation of Managers (other than the Initial Manager) shall require a Member Vote. No agreement may be entered into with an Affiliate of a Manager without the approval of both of the other Managers.
Manager’s and Affiliates’ Compensation. The Manager and its Affiliates shall receive no fee compensation from the Fund for services rendered or to be rendered under this Agreement.
Manager’s and Affiliates’ Compensation. The Manager and its Affiliates shall receive compensation from the Company for services rendered or to be rendered only as specified in this Agreement.
6.1.1 The Manager shall receive an asset management fee equal to 1% of the Gross Revenues of the Hotel, which shall be paid monthly. Ridgewood Hotels, Inc. shall receive the fees set forth in the Property Management Agreement pursuant to the terms in the Property Management Agreement.
