Timing of Payments. All of the forgoing costs and fees referenced in this Section 3 shall become due and payable by Masterworks, and not by Client, contemporaneously with (or promptly following) the closing of the Offering. Accordingly, all of the capital raised in the Offering will be applied to the purpose of the Client as set forth in the Offering Circular.
Appears in 125 contracts
Sources: Engagement Letter and Agreement Among Co Managers (Masterworks 198, LLC), Engagement Letter and Agreement Among Co Managers (Masterworks 210, LLC), Engagement Letter and Agreement Among Co Managers (Masterworks 212, LLC)
Timing of Payments. All of the forgoing costs and fees referenced in this Section 3 shall become due and payable by Masterworks, and not by Client, contemporaneously with (or promptly following) the closing of the Offering. Accordingly, all of the capital raised in the Offering will be applied to the purpose of the Client as set forth in the the final offering circular filed with the United States Securities and Exchange Commission (“SEC”) pursuant to Rule 253(g) (the “Offering Circular”).
Appears in 1 contract
Sources: Engagement Letter and Agreement Among Brokers of Record (Masterworks 108, LLC)