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, upon consummation of a Business Combination, it will pay to the Representative a cash fee of one percent (1%) of the gross proceeds received by the Company from the sale of the Firm Units (of which $100,000 has previously been paid) representing a nonaccountable expense allowance due to the Representative.

Nonaccountable Expenses. The Company further agrees that, in addition to the expenses payable pursuant to Section 3.13.13.8.1, upon the consummation of a the initial Business Combination, it will pay to the Representative a cash fee of nonaccountable expense allowance equal to one percent (1%) of the gross proceeds (excluding the over-allotment option) received by the Company from the sale of the Firm Units (of which $100,000 has previously been paid) representing a nonaccountable expense allowance due before giving effect to the Representativeany discounts and commissions).