Affiliate Compensation. Except as set forth above in this Section 3.7, the Company shall not pay any Initial Stockholder or any of their affiliates any fees or compensation from the Company, for services rendered to the Company prior to, or in connection with, the consummation of a Business Combination; provided that the Initial Stockholders shall be entitled to reimbursement from the Company for their reasonable out-of-pocket expenses incurred in connection with seeking and consummating a Business Combination.
Affiliate Compensation. Except as set forth above in this Section 3.7, the Company shall not pay any Initial Stockholder or any of their affiliates any fees or compensation from the Company, for services rendered to the Company prior to, or in connection with, the consummation of a Business Combination; provided that the Initial Stockholders shall be entitled to reimbursement from the Company for their reasonable out-of-pocket expenses incurred in connection with seeking and consummating a Business Combination; and provided, further, that such persons shall be entitled to receive, upon consummation of a Business Combination, commissions for monies raised by them for the Company in connection with such Business Combination, at rates which are no less favorable to the Company than those which the Company would pay to unaffiliated third parties.
Affiliate Compensation. Except as set forth above in this Section 3.7, the Company shall not pay any Initial Stockholder or any of their affiliates any fees or compensation from the Company, for services rendered to the Company prior to, or in connection with, the consummation of a Business Combination; provided that the Initial Stockholders shall be entitled to reimbursement from the Company for their reasonable out-of-pocket expenses incurred in connection with seeking and consummating a Business Combination. Notwithstanding the foregoing to the contrary, the Company may pay an Initial Stockholder or any of its affiliates fees or compensation in connection with bona fide services to be rendered to the Company that (i) are expressly approved by a majority of the Company's disinterested directors, (ii) are legitimately required by the Company and the Company would otherwise contract such services from a third party, and (iii) all fees and compensation to be paid to any Initial Stockholder or its affiliates are determined on an arm's length basis and in good faith and such fees and compensation are customarily charged by unrelated third party service providers of a similar nature.
Affiliate Compensation. There will be no fees, reimbursements, cash payments or compensation of any kind, including the issuance of any securities of the Company, made to the Company’s officers and directors (directly or indirectly) prior to the consummation of an Acquisition Transaction other than: (i) repayment of an aggregate of $[_______] in non-interest bearing loans made by Selway Capital Holdings, LLC to pay a portion of the Company’s offering expenses; (ii) securities issued to the Company’s officers and directors in exchange for loans reasonably necessary to meet the Company’s working capital needs; and (iii) reimbursement for any reasonable out-of-pocket expenses incident to the Offering and finding a suitable Acquisition Transaction. There is no limit on the amount of out-of-pocket expenses reimbursable by the Company (except that reimbursement may not be made using funds in the trust account unless and until an Acquisition Transaction is consummated). Additionally, the Company may pay to Selway Capital LLC, an affiliate of Selway Capital Holdings, LLC, $5,000 per month for up to twelve months for office space and general and administrative services (the “Services Agreement”).
Affiliate Compensation. The Company will not, and will not permit any of its Subsidiaries, to pay to any natural Person that is an Affiliate of the Company in the form of compensation to such Affiliate in his or her capacity as an officer of the Company if, as a result of such payment, the Company would breach one or more of the covenants, obligations or agreements of the Company set forth herein or in the Warrants. In addition, the Company will maintain a compensation committee composed of outside directors who are not employees of the Company or any of its Subsidiaries. The compensation committee will review the annual salary, bonus, stock options and other benefits of the Company's senior executives to ensure that they are commensurate with the real estate service industry and competitive factors.
Affiliate Compensation. Except as set forth above in this Section 3.17.2, the Company shall not pay the Initial Shareholder or any of its affiliates any fees or compensation from the Company, for services rendered to the Company prior to, or in connection with, the consummation of a Business Combination; provided that the Insiders shall be entitled to reimbursement from the Company for their reasonable out-of-pocket expenses incurred in connection with seeking and consummating a Business Combination. Notwithstanding the foregoing to the contrary, the Company may pay the Initial Shareholder or any of its affiliates fees or compensation in connection with bona fide services to be rendered to the Company pursuant to the services agreement between the Company and Arco Capital Management LLC filed as Exhibit 10.4 to the Registration Statement (the “Services Agreement”).
Affiliate Compensation. Except as provided in Section 3.7.2, the Company shall not pay any Initial Stockholder or any of their affiliates any fees or compensation from the Company, for services rendered to the Company prior to, or in connection with, the consummation of a Business Combination; PROVIDED that the Initial Stockholders shall be entitled to reimbursement from the Company for their reasonable out-of-pocket expenses incurred in connection with seeking and consummating a Business Combination.
Affiliate Compensation. Affiliates of the Members may provide services to the Company provided those services are on commercially reasonably terms and approved by all of the Members.
Affiliate Compensation. In consideration of providing the Affiliate Services, the Affiliate shall be entitled to compensation as described in Schedule B. The Company reserves the right to change the compensation structure from time to time.
Affiliate Compensation. Pay any compensation or other payments to any officer, director or employee of the Borrower or any Affiliate of the Borrower other than as expressly provided for in the Approved Budget.
