Accountable Expense Allowance Clause Samples
Accountable Expense Allowance. Subject to Section 11, and in addition to the Non-Accountable Expenses described in Section 8, the Company will reimburse the Managing Broker-Dealer and Selling Group Members for their actual expenses “Accountable Expenses” in amounts not to exceed 0.70% of the principal amount of the Debentures sold.
9.1 The expenses reimbursable under this Section 9 are referred to as “Accountable Expenses.” Accountable Expenses shall be payable in the same manner and on the same terms as Fees and Non-Accountable Expenses are payable under Section 7 upon the Company’s receipt of proper accounting back-up for such Accountable Expenses. Company and Managing Broker-Dealer shall work proactively with each other to insure that each are timely informed of all Accountable Expenses and commitments to pay such expenses as they are made.
Accountable Expense Allowance. The Company will provide Placement Agent with an accountable expense allowance of up to one percent (1.0%) of the amount of the offering. An advance on the accountable expense allowance in the amount of twenty thousand dollars ($20,000) has been paid to Placement Agent. Such amount has been wholly used by Placement Agent to pay the initial fee of its counsel. If the advances paid by the Company to the Placement Agent exceed the amount of accountable expenses actually incurred, the excess amount will be returned to the Company. Notwithstanding any other provision of this Agreement or any other agreement or understandings between the parties, the amount reimbursable shall not exceed the amount of out-of-pocket accountable expenses actually incurred by IAA in compliance with Rule 5110(f)(2)(D) of the FINRA Rules. In addition any advance received by the Sales Agent or any Selected Dealer will be reimbursed to the Company to the extent not actually incurred pursuant to FINRA Corporate Financing Rule 5110(f)(2)(C).
Accountable Expense Allowance. The Company will provide Placement Agent with an accountable expense allowance of up to one percent (1.0%) of the amount of the offering. An advance on the accountable expense allowance in the amount of twenty thousand dollars ($20,000) has been paid to Placement Agent. Such amount has been wholly used by Placement Agent to pay the initial fee of its counsel. If the advances paid by the Company to the Placement Agent exceed the amount of accountable expenses actually incurred, the excess amount will be returned to the Company. Notwithstanding any other provision of this Agreement or any other agreement or understandings between the parties, the amount reimbursable shall not exceed the amount of out-of-pocket accountable expenses actually incurred by IAA in compliance with Rule 5110(f)(2)(D) of the FINRA Rules.
Accountable Expense Allowance. Cambria will receive at the closing of the Offering an accountable expense reimbursement from the gross proceeds received by the Company in the Offering. Cambria estimates that the cost of its counsel will be between $10,000 to $20,000 and agrees to cap its total expenses at $25,000. In the spirit of transparency, we will send proof of expenses with our invoices to the Company for all the costs associated with the offering.