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.

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.