Compensation to the Agent Clause Samples

Compensation to the Agent. The Managing Sales Agent shall pay the Agent, as compensation for services to be rendered by the Agent hereunder, a commission on each Unit sold equal to 6.0%, which commission rate shall remain in effect during the full term of this Agreement unless otherwise changed by an agreement in writing between the parties hereto. If the Agent sells more than $1,000,000 of Units, the Managing Sales Agent shall pay the Agent, as compensation for services to be rendered by the Agent hereunder, a commission on each Unit sold equal to 6.5%. A sale of a Unit shall be deemed to be completed when a properly completed Subscription Agreement, Signature Page and Power of Attorney has been received from the Agent by the Managing Sales Agent, and payment of the full purchase price of each purchased Unit has been received by the Managing Sales Agent, from a buyer who satisfies each of the terms and conditions of the Registration Statement and Prospectus. Such compensation due under this paragraph shall be payable to the Agent by the Managing Sales Agent within a reasonable time after the end of the month of receipt of the full purchase price; PROVIDED, HOWEVER, that no commissions will be paid to the Agent with respect to any Units sold until the Managing Sales Agent receives such commissions from the Partnership; PROVIDED FURTHER that no commission shall be paid to the Agent with respect to any Units sold unless and until the purchase price for the Units is released from the Escrow Account to the Partnership in accordance with the Prospectus and the Escrow Agreement, or, after the minimum number of Units has been sold, until the purchase price for the Units is paid to the Partnership.