Common use of Banking Fees Clause in Contracts

Banking Fees. Banking fees in cash in an amount equal to (A) eight percent (8%) of the total gross cash proceeds received by the Client (“Gross Cash Proceeds”) in the Equity Financing if such financing is a public offering registered under the Securities Act of 1933, as amended (the “Securities Act”), and (B) ten percent (10%) of the Gross Cash Proceeds in the Equity Financing if such financing is not a public offering registered under the Securities Act. For clarity, the 18% senior secured convertible promissory notes of SANUWAVE Health, Inc. are excluded from the Equity Financing and there shall be no compensation to the Banker for the sale of such notes or the conversion of such notes into common stock of the Client.