Common use of Placement Agents Fees and Expenses Clause in Contracts

Placement Agents Fees and Expenses. At the Closing, the Company shall pay to the Placement Agent a commission equal to 10% of the aggregate purchase price of the Units sold in the Offering. In order to reimburse the Placement Agent for its expenses incurred in connection with the Offering, at the Closing, the Company also shall pay to the Placement Agent a non-accountable expense allowance equal to 3% of the aggregate purchase price of the Units (less $20,000 paid on account) sold in the Offering. On or before the Closing, the Company shall pay the fees and disbursements of GM&M referred to in Section 5.3 below in connection with the qualification of the Units under the securities or Blue Sky laws of the states which the Placement Agent shall designate and the other expenses of the offering that are referred to in Section 5.3 below. All the foregoing amounts are payable directly to the parties who are owed same by deduction from the aggregate purchase price of the Units sold.

Placement Agents Fees and Expenses. At the Closing, the Company shall pay to the Placement Agent a commission equal to 10% of the aggregate purchase price of the Units sold in the Offering. In order to reimburse the Placement Agent for its expenses incurred in connection with the Offering, at the Closing, the Company also shall pay to the Placement Agent a non-accountable expense allowance equal to 3% of the aggregate purchase price of the Units (less $20,000 10,000 paid on account) sold in the Offering. On or before the Closing, the Company shall also pay the fees and disbursements of GM&M referred to in Section 5.3 5.2 below in connection with the qualification of the Units under the securities or Blue Sky laws of the states which the Placement Agent shall designate and the other expenses of the offering that are referred to in Section 5.3 5.2 below. All the foregoing amounts are payable directly to the parties who are owed same by deduction from the aggregate purchase pur chase price of the Units sold.