Common use of Adjustment to Development Fee Clause in Contracts

Adjustment to Development Fee. Upon the date of Completion, a determination shall be made as to whether the Development Fee should be reduced. If the Designated Construction Costs incurred to complete the Project exceed the Designated Construction Costs set forth in the Final Development Budget, or if the date of Completion is later than the date of Completion projected in the Final Project Schedule (excluding delays caused by Force Majeure Events, delays requested by the General Contractor and approved by Owner, and delays resulting from change orders initiated by Owner), then the Development Fee shall be reduced in the manner set forth in Exhibit G attached hereto and made a part hereof.