Construction Management Fees. At such time, if at all, as the Company or an Investment Entity shall acquire an REO Property, the Managing Member or its Affiliate shall be entitled to receive a construction management fee from the Company or the applicable Investment Entity equal to 3% of the gross construction costs relating to all construction projects and tenant improvements at such REO Property.
Appears in 2 contracts
Sources: Limited Liability Company Agreement (Winthrop Realty Trust), Limited Liability Company Agreement (Lexington Master Limited Partnership)