Fees Payable to the Managing Member. and/or the Members of the Board of Directors, and the Company’s Affiliates. The MANAGING MEMBER and MEMBER OF THE BOARD OF DIRECTORS, or their AFFILIATES shall be entitled to receive the fees set forth in Section 5.10 of this OPERATING AGREEMENT. The MANAGING MEMBER or BOARD OF DIRECTORS, or their AFFILIATES, in their sole discretion may defer or waive any fee payable to it under this OPERATING AGREEMENT. All or any portion of any deferred fees will be deferred without interest and paid when the MANAGING MEMBER or BOARD OF DIRECTORS determines.
Appears in 5 contracts
Samples: Operating Agreement (Century West Multifamily Income Reit, LLC), Operating Agreement (Anabasis Real Estate Investment Trust, LLC), Operating Agreement (Century West Multifamily Income Reit, LLC)
