Construction and Development Fee definition
Examples of Construction and Development Fee in a sentence
The General Partners shall promptly take all action which may be necessary or appropriate for the proper development, maintenance and operation of the Apartment Complex in accordance with the provisions of this Agreement, the Project Documents and applicable laws and regulations including, without limitation, funding the Construction and Development Fee to the extent Capital Contributions are insufficient.
Any portion of the Construction and Development Fee which shall not have been paid as of the date which is six months after it shall have been earned shall accrue interest at the Applicable Federal Rate in effect at the time earned from the date earned through the date of payment; any such interest shall be payable in accordance with the provisions of Article X.
The General Partners shall promptly take all action which may be necessary or appropriate for the proper development, maintenance and operation of the Apartment Complex in accordance with the provisions of this Agreement, the Project Documents and applicable laws and regulations including, without limitation, funding the Construction and Development Fee to the extent Capital Contributions and Cash Flow are insufficient.
The deferred portion of the Construction and Development Fee which shall not have been paid as of the date which is six months after it shall have been earned shall accrue interest at the Applicable Federal Rate in effect at the time earned from the date earned through the date of payment; any such interest shall be payable in accordance with the provisions of Article X.
The General Partners shall promptly take all action which may be necessary or appropriate for the proper development, maintenance and operation of the Apartment Complex in accordance with the provisions of this Agreement, the Project Documents and applicable laws and regulations, including, without limitation, funding the Construction and Development Fee to the extent Capital Contributions are insufficient.
Any portion of the Construction and Development Fee which shall not have been paid after payment of the Installments shall be payable from cash flow as set forth in Section 10.2, with the deferred developer's fee being paid in full by the tenth year of operations.
A portion of the Construction and Development Fee in the amount of $1,758 shall be deferred.
The Construction and Development Fee was paid $400,000 from the proceeds of the Second Installment and $167,100 from the proceeds of the Third Installment.
The Construction and Development Fee shall be payable $40,080 from the proceeds of the Third Installment and $16,600 from the proceeds of the Fourth Installment.
The General Partners shall make additional Capital Contributions to the Partnership in an amount aufficient to enable the Partnership to pay any deferred portion of the Construction and Development Fee not paid by December 31, 2008.