Common use of Compensation and Expense Reimbursement Clause in Contracts

Compensation and Expense Reimbursement. (a) In consideration for the Wholesaler performing its obligations under this Agreement, the Dealer Manager shall pay the Wholesaler a sourcing fee (the “Sourcing Fee”) equal to 3.375% of the Selling Price of each of the Offered Shares sold by Participating Broker-Dealers who entered into dealer agreements with the Dealer Manager primarily as a result of the efforts of RCS Service Providers (“RCS Sales”); provided, however, the Sourcing Fee shall be payable solely from that portion of the Dealer Manager Fee that is (i) actually received by the Dealer Manager from the Company pursuant to Section 3,3 of the Dealer Manager Agreement, and (ii) not reallowed to any Participating Broker-Dealer pursuant to Section 3.3 of the Dealer Manager Agreement (a “Sourcing Fee Reallowance”) in respect of any RCS Sales.

Appears in 2 contracts

Samples: Sub Advisory Agreement (ARC Properties Operating Partnership, L.P.), Sub Advisory Agreement (RCS Capital Corp)

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Compensation and Expense Reimbursement. (a) In consideration for the Wholesaler performing its obligations under this Agreement, the Dealer Manager shall pay the Wholesaler a sourcing fee (the “Sourcing Fee”) equal to 3.3751.80% of the Selling Price of each of the Offered Shares sold by Participating Broker-Dealers who entered into dealer agreements with the Dealer Manager primarily as a result of the efforts of RCS RCAP Service Providers (“RCS RCAP Sales”); provided, however, the Sourcing Fee shall be payable solely from that portion of the Dealer Manager Fee that is (i) actually received by the Dealer Manager from the Company pursuant to Section 3,3 of the Dealer Manager Agreement, and (ii) not reallowed to any Participating Broker-Dealer pursuant to Section 3.3 of the Dealer Manager Agreement (a “Sourcing Fee Reallowance”) in respect of any RCS RCAP Sales.

Appears in 2 contracts

Samples: Sub Advisory Agreement (ARC Properties Operating Partnership, L.P.), Sub Advisory Agreement (RCS Capital Corp)

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Compensation and Expense Reimbursement. (a) In consideration for the Wholesaler performing its obligations under this Agreement, the Dealer Manager shall pay the Wholesaler a sourcing fee (the “Sourcing Fee”) equal to 3.3751.80% of the Selling Price of each of the Offered Shares sold by Participating Broker-Dealers who entered into dealer agreements with the Dealer Manager primarily as a result of the efforts of RCS Service Providers (“RCS Sales”); provided, however, the Sourcing Fee shall be payable solely from that portion of the Dealer Manager Fee that is (i) actually received by the Dealer Manager from the Company pursuant to Section 3,3 of the Dealer Manager Agreement, and (ii) not reallowed to any Participating Broker-Dealer pursuant to Section 3.3 of the Dealer Manager Agreement (a “Sourcing Fee Reallowance”) in respect of any RCS Sales.

Appears in 2 contracts

Samples: Sub Advisory Agreement (ARC Properties Operating Partnership, L.P.), Sub Advisory Agreement (RCS Capital Corp)

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