Promote Crystallization Clause (90/10 Real Estate Joint Venture) | Practical Law
A promote crystallization clause that can be used in a limited liability company (LLC) operating agreement for a real estate joint venture formed between a minority owner operating member, and a majority owner investor member. It allows the operating member to receive or realize its promote without a capital event. This Standard Clause has integrated notes with important explanations and drafting and negotiating tips for both members.