Development Incentive Fee Sample Clauses

Development Incentive Fee. Subject to Section 9.7, 9.8, 9.9 and 9.10, Development Manager shall be entitled to receive, from time to time, an incentive fee as described in this Section 9.2 (“Development Incentive Fee”) based upon the “IRR Rate” (as defined in Exhibit “K”). Subject to the foregoing, Owner shall pay to Development Manager simultaneously with the distribution by FOCIL Holdings to its members of any distributions of cash, a Development Incentive Fee computed as follows: