Common use of Nonaccountable Expenses Clause in Contracts

Nonaccountable Expenses. The Company further agrees that, in addition to the expenses payable pursuant to Section 3.13.1, on each of the Closing Dates, it will pay to the Representative a nonaccountable expense allowance equal to one percent (1%) of the gross proceeds received by the Company from the sale of the Firm Units by deduction from the proceeds of the Offering contemplated herein; provided, however, that this nonaccountable expense fee shall be reduced on a dollar-for-dollar basis by the amount that the expenses incident to the Offering, including the expenses incurred pursuant to Section 3.13.1, exceed $450,000 in the aggregate.

Nonaccountable Expenses. The Company further agrees that, in addition to the expenses payable pursuant to Section 3.13.1, on each of the Closing DatesDate, it will pay to the Representative a nonaccountable expense allowance equal to one percent (1%) of the gross proceeds received by the Company from the sale of the Firm Units by deduction from the proceeds of the Offering contemplated herein; provided, however, that this nonaccountable expense fee shall be reduced on a dollar-for-dollar basis by the amount that the expenses incident to the Offering, including the expenses incurred pursuant to Section 3.13.1, exceed $450,000 in the aggregate; provided, further, that in the event the Offering is terminated for whatever reason prior to the Closing Date, the Representative shall be reimbursed only for its actual, accountable out-of- pocket expenses.

Nonaccountable Expenses. The Company further agrees that, in addition to the expenses payable pursuant to Section 3.13.1, on each of the Closing DatesDate, it will pay to the Representative a nonaccountable expense allowance equal to one percent (1%) of the gross proceeds received by the Company from the sale of the Firm Units by deduction from the proceeds of the Offering contemplated herein; provided, however, that this nonaccountable expense fee shall be reduced on a dollar-for-dollar basis by the amount that the expenses incident to the Offering, including the expenses incurred pursuant to Section 3.13.1, exceed $450,000 400,000 in the aggregate; provided, further, that in the event the Offering is terminated for whatever reason prior to the Closing Date, the Representative shall be reimbursed only for its actual, accountable out-of- pocket expenses.