Payment of Incentive Fee. The Incentive Fee shall be deemed earned at the time it is calculated but shall not be due or payable unless and until Cost Recovery has occurred. The Incentive Fee shall accrue simple interest at 9% per annum from the date it is deemed earned until paid.
Appears in 6 contracts
Samples: Operating Agreement (Wellsford Real Properties Inc), Operating Agreement (Equity Residential Properties Trust), Operating Agreement (Wellsford Real Properties Inc)
