Common use of Nonaccountable Expenses Clause in Contracts

Nonaccountable Expenses. The Company agrees that, in addition to the expenses payable pursuant to Section 3.13.1, it will pay the Co-Representatives, upon consummation of a Business Combination, an additional cash fee equal to 1% of the gross proceeds received by the Company from the sale of the Firm Units representing a nonaccountable expense allowance due to the Co-Representatives; provided, however, that (a) in the event a Business Combination is not consummated, such fees will be returned to the Company prior to its liquidation or (b) in the event a Business Combination is consummated, such fees will be credited against the amount due to the Co-Representatives upon consummation of such Business Combination.

Appears in 2 contracts

Samples: Underwriting Agreement (Media & Entertainment Holdings, Inc.), Underwriting Agreement (Media & Entertainment Holdings, Inc.)

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Nonaccountable Expenses. The Company agrees that, in addition to the expenses payable pursuant to Section 3.13.1, it will pay the Co-RepresentativesRepresentative, upon consummation of a Business Combination, an additional cash fee equal to 1% of the gross proceeds received by the Company from the sale of the Firm Units representing a nonaccountable expense allowance due to the Co-RepresentativesRepresentative; provided, however, that (a) in the event a Business Combination is not consummated, such fees will be returned to the Company prior to its liquidation or (b) in the event a Business Combination is consummated, such fees will be credited against the amount due to the Co-Representatives Representative upon consummation of such Business Combination.

Appears in 2 contracts

Samples: Underwriting Agreement (Media & Entertainment Holdings, Inc.), Underwriting Agreement (Media & Entertainment Holdings, Inc.)

Nonaccountable Expenses. The Company agrees that, in addition to the expenses payable pursuant to Section 3.13.1, it will pay the Co-RepresentativesRepresentative, upon consummation of a Business Combination, an additional cash fee equal to 11.75% of the gross proceeds received by the Company from the sale of the Firm Units representing a nonaccountable expense allowance due to the Co-RepresentativesRepresentative; provided, however, that with respect to $1,325,000 of such fee, (a) in the event a Business Combination is not consummated, such fees will be returned to the Company prior to its liquidation or (b) in the event a Business Combination is consummated, such fees will be credited against the amount due to the Co-Representatives Representative upon consummation of such Business Combination.

Appears in 1 contract

Samples: Underwriting Agreement (Millennium India Acquisition CO Inc.)

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Nonaccountable Expenses. The Company agrees that, in addition to the expenses payable pursuant to Section 3.13.1, it will pay the Co-RepresentativesRepresentative, upon consummation of a Business Combination, an additional cash fee equal to 10.625% of the gross proceeds received by the Company from the sale of the Firm Units representing a nonaccountable expense allowance due to the Co-RepresentativesRepresentative; provided, however, that with respect to the $37,500 advance previously paid to the Representative, (a) in the event a Business Combination is not consummated, such fees will be returned to the Company prior to its liquidation or (b) in the event a Business Combination is consummated, such fees will be credited against the amount due to the Co-Representatives Representative upon consummation of such Business Combination.

Appears in 1 contract

Samples: Underwriting Agreement (Endeavor Acquisition Corp.)

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