Common use of COMPENSATION AND OTHER FEES Clause in Contracts

COMPENSATION AND OTHER FEES. In addition to the fees described in Section 7 herein, as compensation for the services provided by the Placement Agents hereunder, the Company agrees to pay to the Representative on each applicable Closing Date a commission equal to 7.00% times the aggregate gross proceeds raised in the Placement on the applicable Closing Date from Purchasers originally introduced to the Company by the Placement Agents, in such proportions as determined by the Representative; provided, however, that the Placement Agents shall not receive compensation for gross proceeds raised from Purchasers participating in the Placement and originally introduced to the Company by any officers, directors or other affiliates of the Company.

COMPENSATION AND OTHER FEES. In addition to the fees described in Section 7 herein, as compensation for the services provided by the Placement Agents Agent hereunder, the Company agrees to pay to the Representative Placement Agent on each applicable Closing Date a commission equal to 7.00% times the aggregate gross proceeds raised in the Placement on the applicable Closing Date from Purchasers originally introduced to the Company by the Placement Agents, in such proportions as determined by the RepresentativeAgent; provided, however, that the Placement Agents Agent shall not receive compensation for gross proceeds raised from Purchasers participating in the Placement and originally introduced to the Company by any officers, directors or other affiliates of the Company.