Common use of Compensation and Expenses Clause in Contracts

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 Asset, the Asset Manager may be granted a sourcing fee equal to 2.96% of the total aggregate amount of Series Gallery Drop 062 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

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Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 080 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.06% of the total aggregate amount of Series Gallery Drop 062 080 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 080 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 061 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.01% of the total aggregate amount of Series Gallery Drop 062 061 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 061 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 052 Asset, the Asset Manager may be granted a sourcing fee equal to 2.967.43% of the total aggregate amount of Series Gallery Drop 062 052 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 052 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 072 Asset, the Asset Manager may be granted a sourcing fee equal to 2.964.48% of the total aggregate amount of Series Gallery Drop 062 072 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 072 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 093 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.5% of the total aggregate amount of Series Gallery Drop 062 093 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 093 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 064 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.38% of the total aggregate amount of Series Gallery Drop 062 064 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 064 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 110 Asset, the Asset Manager may be granted a sourcing fee equal to 2.962.59% of the total aggregate amount of Series Gallery Drop 062 110 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 110 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 070 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.2% of the total aggregate amount of Series Gallery Drop 062 070 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 070 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 121 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.21% of the total aggregate amount of Series Gallery Drop 062 121 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 121 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 #KW Asset, the Asset Manager may be granted a sourcing fee equal to 2.962.3556% of the total aggregate amount of Series Gallery Drop 062 #KW membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 #KW Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 025 Asset, the Asset Manager may be granted a sourcing fee equal to 2.961.44% of the total aggregate amount of Series Gallery Drop 062 025 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 025 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 092 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.59% of the total aggregate amount of Series Gallery Drop 062 092 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 092 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 012 Asset, the Asset Manager may be granted a sourcing fee equal to 2.962.00% of the total aggregate amount of Series Gallery Drop 062 012 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 012 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 076 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.52% of the total aggregate amount of Series Gallery Drop 062 076 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 076 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 063 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.37% of the total aggregate amount of Series Gallery Drop 062 063 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 063 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 077 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.27% of the total aggregate amount of Series Gallery Drop 062 077 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 077 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 015 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.50% of the total aggregate amount of Series Gallery Drop 062 015 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 015 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 097 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.38% of the total aggregate amount of Series Gallery Drop 062 097 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 097 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 116 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.57% of the total aggregate amount of Series Gallery Drop 062 116 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 116 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 065 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963% of the total aggregate amount of Series Gallery Drop 062 065 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 065 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 060 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.53% of the total aggregate amount of Series Gallery Drop 062 060 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 060 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 005 Asset, the Asset Manager may be granted a sourcing fee equal to 2.962.12% of the total aggregate amount of Series Gallery Drop 062 005 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 005 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 008 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.50% of the total aggregate amount of Series Gallery Drop 062 008 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 008 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Collection Drop 062 009 Asset, the Asset Manager may be granted a sourcing fee equal to 2.962.44% of the total aggregate amount of Series Gallery Collection Drop 062 009 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Collection Drop 062 009 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Collection LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 021 Asset, the Asset Manager may be granted a sourcing fee equal to 2.961.14% of the total aggregate amount of Series Gallery Drop 062 021 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 021 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 118 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.36% of the total aggregate amount of Series Gallery Drop 062 118 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 118 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 101 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.58% of the total aggregate amount of Series Gallery Drop 062 101 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 101 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 037 Asset, the Asset Manager may be granted a sourcing fee equal to 2.962.81% of the total aggregate amount of Series Gallery Drop 062 037 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 037 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 067 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.54% of the total aggregate amount of Series Gallery Drop 062 067 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 067 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 024 Asset, the Asset Manager may be granted a sourcing fee equal to 2.960.34% of the total aggregate amount of Series Gallery Drop 062 024 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 024 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 056 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.35% of the total aggregate amount of Series Gallery Drop 062 056 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 056 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 111 Asset, the Asset Manager may be granted a sourcing fee equal to 2.962.86% of the total aggregate amount of Series Gallery Drop 062 111 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 111 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 057 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.08% of the total aggregate amount of Series Gallery Drop 062 057 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 057 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 069 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.42% of the total aggregate amount of Series Gallery Drop 062 069 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 069 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 059 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.36% of the total aggregate amount of Series Gallery Drop 062 059 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 059 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 094 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.32% of the total aggregate amount of Series Gallery Drop 062 094 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 094 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 042 Asset, the Asset Manager may be granted a sourcing fee equal to 2.962.94% of the total aggregate amount of Series Gallery Drop 062 042 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 042 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 013 Asset, the Asset Manager may be granted a sourcing fee equal to 2.962.00% of the total aggregate amount of Series Gallery Drop 062 013 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 013 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 100 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.14% of the total aggregate amount of Series Gallery Drop 062 100 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 100 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 084 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.39% of the total aggregate amount of Series Gallery Drop 062 084 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 084 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 029 Asset, the Asset Manager may be granted a sourcing fee equal to 2.960.85% of the total aggregate amount of Series Gallery Drop 062 029 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 029 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 053 Asset, the Asset Manager may be granted a sourcing fee equal to 2.960.36% of the total aggregate amount of Series Gallery Drop 062 053 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 053 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 041 Asset, the Asset Manager may be granted a sourcing fee equal to 2.964.45% of the total aggregate amount of Series Gallery Drop 062 041 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 041 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 083 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.49% of the total aggregate amount of Series Gallery Drop 062 083 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 083 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 028 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.51% of the total aggregate amount of Series Gallery Drop 062 028 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 028 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 079 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.36% of the total aggregate amount of Series Gallery Drop 062 079 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 079 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 082 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.5% of the total aggregate amount of Series Gallery Drop 062 082 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 082 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 068 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.38% of the total aggregate amount of Series Gallery Drop 062 068 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 068 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 075 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.52% of the total aggregate amount of Series Gallery Drop 062 075 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 075 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 117 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.75% of the total aggregate amount of Series Gallery Drop 062 117 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 117 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 023 Asset, the Asset Manager may be granted a sourcing fee equal to 2.961.84% of the total aggregate amount of Series Gallery Drop 062 023 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 023 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Collection Drop 062 006 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.06% of the total aggregate amount of Series Gallery Collection Drop 062 006 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Collection Drop 062 006 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Collection LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 022 Asset, the Asset Manager may be granted a sourcing fee equal to 2.962.06% of the total aggregate amount of Series Gallery Drop 062 022 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 022 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Collection Drop 062 007 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.14% of the total aggregate amount of Series Gallery Collection Drop 062 007 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Collection Drop 062 007 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Collection LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 040 Asset, the Asset Manager may be granted a sourcing fee equal to 2.964.49% of the total aggregate amount of Series Gallery Drop 062 040 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 040 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 114 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.02% of the total aggregate amount of Series Gallery Drop 062 114 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 114 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 045 Asset, the Asset Manager may be granted a sourcing fee equal to 2.964.68% of the total aggregate amount of Series Gallery Drop 062 045 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 045 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 112 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.47% of the total aggregate amount of Series Gallery Drop 062 112 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 112 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 107 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.23% of the total aggregate amount of Series Gallery Drop 062 107 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 107 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 018 Asset, the Asset Manager may be granted a sourcing fee equal to 2.961.16% of the total aggregate amount of Series Gallery Drop 062 018 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 018 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

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Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 049 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.26% of the total aggregate amount of Series Gallery Drop 062 049 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 049 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 074 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.13% of the total aggregate amount of Series Gallery Drop 062 074 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 074 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 091 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.27% of the total aggregate amount of Series Gallery Drop 062 091 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 091 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 043 Asset, the Asset Manager may be granted a sourcing fee equal to 2.964.01% of the total aggregate amount of Series Gallery Drop 062 043 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 043 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 007 Asset, the Asset Manager may be granted a sourcing fee equal to 2.96between 0-5% of the total aggregate amount gross proceeds from the sale of Series Gallery Drop 062 007 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 007 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 019 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.56% of the total aggregate amount of Series Gallery Drop 062 019 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 019 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 078 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.13% of the total aggregate amount of Series Gallery Drop 062 078 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 078 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 106 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.44% of the total aggregate amount of Series Gallery Drop 062 106 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 106 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 104 Asset, the Asset Manager may be granted a sourcing fee equal to 2.962.53% of the total aggregate amount of Series Gallery Drop 062 104 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 104 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 036 Asset, the Asset Manager may be granted a sourcing fee equal to 2.961.59% of the total aggregate amount of Series Gallery Drop 062 036 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 036 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Collection Drop 062 005 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.22% of the total aggregate amount of Series Gallery Collection Drop 062 005 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Collection Drop 062 005 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Collection LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 090 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.58% of the total aggregate amount of Series Gallery Drop 062 090 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 090 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 051 Asset, the Asset Manager may be granted a sourcing fee equal to 2.964.61% of the total aggregate amount of Series Gallery Drop 062 051 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 051 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 027 Asset, the Asset Manager may be granted a sourcing fee equal to 2.960.31% of the total aggregate amount of Series Gallery Drop 062 027 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 027 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 087 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.61% of the total aggregate amount of Series Gallery Drop 062 087 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 087 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 115 Asset, the Asset Manager may be granted a sourcing fee equal to 2.962.87% of the total aggregate amount of Series Gallery Drop 062 115 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 115 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 120 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.32% of the total aggregate amount of Series Gallery Drop 062 120 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 120 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 048 Asset, the Asset Manager may be granted a sourcing fee equal to 2.960.44% of the total aggregate amount of Series Gallery Drop 062 048 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 048 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 011 Asset, the Asset Manager may be granted a sourcing fee equal to 2.962.00% of the total aggregate amount of Series Gallery Drop 062 011 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 011 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 020 Asset, the Asset Manager may be granted a sourcing fee equal to 2.960.11% of the total aggregate amount of Series Gallery Drop 062 020 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 020 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 003 Asset, the Asset Manager may be granted a sourcing fee equal to 2.960.81% of the total aggregate amount of Series Gallery Drop 062 003 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 003 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 071 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.45% of the total aggregate amount of Series Gallery Drop 062 071 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 071 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 014 Asset, the Asset Manager may be granted a sourcing fee equal to 2.964.61% of the total aggregate amount of Series Gallery Drop 062 014 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 014 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Collection Drop 062 003 Asset, the Asset Manager may be granted a sourcing fee equal to 2.962.09% of the total aggregate amount of Series Gallery Collection Drop 062 003 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Collection Drop 062 003 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Collection LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 109 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.43% of the total aggregate amount of Series Gallery Drop 062 109 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 109 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 073 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.4% of the total aggregate amount of Series Gallery Drop 062 073 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 073 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 030 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.57% of the total aggregate amount of Series Gallery Drop 062 030 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 030 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 050 Asset, the Asset Manager may be granted a sourcing fee equal to 2.965.09% of the total aggregate amount of Series Gallery Drop 062 050 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 050 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 046 Asset, the Asset Manager may be granted a sourcing fee equal to 2.962.66% of the total aggregate amount of Series Gallery Drop 062 046 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 046 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 054 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.26% of the total aggregate amount of Series Gallery Drop 062 054 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 054 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 031 Asset, the Asset Manager may be granted a sourcing fee equal to 2.964.14% of the total aggregate amount of Series Gallery Drop 062 031 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 031 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 103 Asset, the Asset Manager may be granted a sourcing fee equal to 2.962.98% of the total aggregate amount of Series Gallery Drop 062 103 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 103 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 039 Asset, the Asset Manager may be granted a sourcing fee equal to 2.964.98% of the total aggregate amount of Series Gallery Drop 062 039 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 039 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 113 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.47% of the total aggregate amount of Series Gallery Drop 062 113 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 113 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 004 Asset, the Asset Manager may be granted a sourcing fee equal to 2.96between 0-5% of the total aggregate amount gross proceeds from the sale of Series Gallery Drop 062 004 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 004 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 098 Asset, the Asset Manager may be granted a sourcing fee equal to 2.962.71% of the total aggregate amount of Series Gallery Drop 062 098 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 098 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 119 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.51% of the total aggregate amount of Series Gallery Drop 062 119 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 119 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 081 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.62% of the total aggregate amount of Series Gallery Drop 062 081 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 081 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

Compensation and Expenses. (a) As compensation for sourcing the Series Gallery Drop 062 122 Asset, the Asset Manager may be granted a sourcing fee equal to 2.963.56% of the total aggregate amount of Series Gallery Drop 062 122 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion. (b) Except as set forth in Section 5, the Series will bear all expenses of the Series Gallery Drop 062 122 Asset and shall reimburse the Asset Manager for any such expenses paid by the Asset Manager on behalf of the Series together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Asset Manager in its sole discretion (“Operating Expenses Reimbursement Obligation”). (c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

Appears in 1 contract

Samples: Asset Management Agreement (Otis Gallery LLC)

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