FEES, EXPENSES AND COMMISSIONS. (a) The Escrow Agent fee of $5,000, and all reasonable out-of-pocket expenses paid or incurred by the Escrow Agent in the administration of its duties hereunder, including, but not limited to, postage, all outside counsel to the Escrow Agent and advisors' and agents' fees and all taxes or other governmental charges, if any, shall be paid from the gross proceeds from the sale of the Debentures held in escrow. The Escrow Agent shall retain the sum of $500 from the gross proceeds from the sale of the Debentures for out-of- pocket expenses, and the Company agrees to pay the Escrow Agent any out-of- pocket expenses in excess of the $500, upon receipt of an invoice from the Escrow Agent for such excess amount. The Escrow Agent is directed to pay itself such Escrow Agent fee and out-of pocket expenses in the amount of $500 from the escrow, at Closing. (b) The document production fee of $5,000 pursuant to the terms of the retainer agreement dated April 6, 1999 among Kxxxxx Gxxxxxxxxx & Lxxxxxxx, LLP ("KGL"), the Company and Lxxxxxx, Inc., will be paid to KGL from the funds held in escrow at Closing. (c) The consulting fee of ten percent (10%) of the Purchase Price pursuant to the terms of the Term Sheet by and between Cxxxx and the Company dated April 2, 1999, will be paid to Cxxxx from the funds in escrow at Closing. -------------------------------------------------------------------------------
Appears in 1 contract
Samples: Convertible Debenture and Warrant Purchase Agreement (Crys Tel Telecommunications Com Inc)
FEES, EXPENSES AND COMMISSIONS. (a) The Escrow Agent fee of $5,000, and all reasonable out-of-pocket expenses paid or incurred by the Escrow Agent in the administration of its duties hereunder, including, but not limited to, postage, all outside counsel to the Escrow Agent and advisors' and agents' fees and all taxes or other governmental charges, if any, shall be paid from the gross proceeds from the sale of the Debentures held in escrow. The Escrow Agent shall retain the sum of $500 300 from the gross proceeds from the sale of the Debentures for out-of- of-pocket expenses, and the Company agrees to pay the Escrow Agent any out-of- of-pocket expenses in excess of the $500300, upon receipt of an invoice from the Escrow Agent for such excess amount. The Escrow Agent is directed to pay itself such Escrow Agent fee and out-of of-pocket expenses in the amount of $500 300 from the escrow, at Closing. The Company is to receive prior written notice in the event the Escrow Agent engages outside counsel.
(b) A management fee of an aggregate of six percent (6%) of the gross proceeds from the sale of the Debentures, will be paid to GEM Advisors, Inc. from the funds held in escrow.
(c) The document production fee of $5,000 pursuant to the terms of the retainer agreement dated April 6November 5, 1999 1998 among Kxxxxx Gxxxxxxxxx Kaplan Gottbetter & LxxxxxxxLevenson, LLP LLX ("KGLXXL"), the Company and Lxxxxxxxxx Xxmpaxx xxx XEM Advisors, Inc., will be paid to KGL from the funds held in escrow at Closingescrow.
(c) The consulting fee of ten percent (10%) of the Purchase Price pursuant to the terms of the Term Sheet by and between Cxxxx and the Company dated April 2, 1999, will be paid to Cxxxx from the funds in escrow at Closing. -------------------------------------------------------------------------------
Appears in 1 contract
Samples: Escrow Agreement (Accord Advanced Technologies Inc)
FEES, EXPENSES AND COMMISSIONS. (a) The Escrow Agent fee of $5,000, and all reasonable out-of-pocket expenses paid or incurred by the Escrow Agent in the administration of its duties hereunder, including, but not limited to, postage, all outside counsel to the Escrow Agent and advisors' and agents' fees and all taxes or other governmental charges, if any, shall be paid from the gross proceeds from the sale of the Debentures held in escrow. The Escrow Agent shall retain the sum of $500 350 from the gross proceeds from the sale of the Debentures for out-of- of-pocket expenses, and the Company agrees to pay the Escrow Agent any out-of- of-pocket expenses in excess of the $500350, upon receipt of an invoice from the Escrow Agent for such excess amount. The Escrow Agent is directed to pay itself such Escrow Agent fee and out-of of-pocket expenses in the amount of $500 350 from the escrow, at Closing.
(b) A sales commission of an aggregate of seven percent (7%) of the gross proceeds from the sale of the Debentures, will be paid to GEM Advisors, Inc. ("GEM") from the funds held in escrow.
(c) The document production fee of $5,000 pursuant to the terms of the retainer agreement dated April 6November 16, 1999 among Kxxxxx Gxxxxxxxxx 1998 between Xxxxxx Xxxxxxxxxx & LxxxxxxxXxxxxxxx, LLP ("KGL"), the Company and Lxxxxxx, Inc.GEM, will be paid to KGL from the funds held in escrow at Closingescrow.
(c) The consulting fee of ten percent (10%) of the Purchase Price pursuant to the terms of the Term Sheet by and between Cxxxx and the Company dated April 2, 1999, will be paid to Cxxxx from the funds in escrow at Closing. -------------------------------------------------------------------------------
Appears in 1 contract
Samples: Escrow Agreement (Alottafun Inc)
FEES, EXPENSES AND COMMISSIONS. (a) The Escrow Agent fee of $5,000, and all reasonable out-of-pocket expenses paid or incurred by the Escrow Agent in the administration of its duties hereunder, including, but not limited to, postage, all outside counsel to the Escrow Agent and advisors' and agents' fees and all taxes or other governmental charges, if any, shall be paid from the gross proceeds from the sale of the Debentures held in escrow. The Escrow Agent shall retain the sum of $500 from the gross proceeds from the sale of the Debentures for out-of- of-pocket expenses, and the Company agrees to pay the Escrow Agent any out-of- of-pocket expenses in excess of the $500, upon receipt of an invoice from the Escrow Agent for such excess amount. The Escrow Agent is directed to pay itself such Escrow Agent fee and out-of pocket expenses in the amount of $500 from the escrow, at Closing.
(b) The document production fee of $5,000 pursuant to the terms of the retainer agreement dated April 6, 1999 among Kxxxxx Gxxxxxxxxx & Lxxxxxxx, LLP ("KGL"), the Company and Lxxxxxx, Inc., will be paid to KGL from the funds held in escrow at Closing.
(c) The consulting fee of ten percent (10%) of the Purchase Price pursuant to the terms of the Term Sheet by and between Cxxxx and the Company dated April 2, 1999, will be paid to Cxxxx from the funds in escrow at Closing. -------------------------------------------------------------------------------.
Appears in 1 contract
Samples: Convertible Debenture and Warrant Purchase Agreement (Crys Tel Telecommunications Com Inc)