Examples of Development Management Fee in a sentence
The Development Management Fee shall be paid as follows (i) twenty-five percent (25%) upon the commencement of construction of the Public Parking Garage, and (ii) the remaining seventy-five percent (75%) in equal monthly payments over the term of the Parking Garage Project, as reflected in the Project Construction Schedule and as adjusted to take into account any change orders or other modifications to the Approved Project Budget.
As compensation for Development Manager's services rendered in connection with the Parking Garage Project, DSA shall pay to Development Manager a "Development Management Fee" in the amount of four percent (4%) of the total hard and soft costs incurred with respect to the Parking Garage Project.
Anything to the contrary in this Agreement notwithstanding, if this Agreement is terminated for any reason prior to the Final Project Completion, the amount of the Development Management Fee to be paid hereunder shall be reduced to an amount equal to the portion of the Development Management Fee actually earned by Development Manager through such date of termination of this Agreement and such amount shall constitute payment in full of the Development Management Fee required hereunder.
Progress Construction Payment Applications shall reflect retainage in the amount of five percent (5%) of the Development Management Fee and ten percent (10%) of the Offsite Costs, Direct Costs and Construction Management Fee.
For the BTS Transaction, the Trustee and the Manager’s independent directors have reviewed and approved the Development Management Fee of S$1.80 million (being 1.0% of the Total Project Cost, less fees payable to the Manager).