Nonaccountable Expenses. The Company agrees that, in addition to the expenses payable pursuant to Section 3.13.1, it will pay to the Representative an additional cash fee equal to 1.5% of the gross proceeds received by the Company from the sale of the Firm Units (of which $75,000 has previously been paid) representing a nonaccountable expense allowance due to the Representative. The balance owed will be payable only if and when the Company consummates a Business Combination. If a Business Combination is not consummated, the Representative shall not be entitled to any additional fee but will be entitled to retain the $75,000 advance previously paid.
Appears in 6 contracts
Samples: Underwriting Agreement (Renaissance Acquisition Corp.), Underwriting Agreement (Renaissance Acquisition Corp.), Underwriting Agreement (Renaissance Acquisition Corp.)
