Common use of Organizational and Offering Expenses Clause in Contracts

Organizational and Offering Expenses. Organizational and Offering Expenses are defined as any and all costs and expenses, other than selling commissions and the 1.5% marketing allowance incurred by the Company, the advisor or any affiliate of either in connection with the formation, qualification and registration of the Company and the marketing and distribution of Shares, including, without limitation, the following: legal, accounting and escrow fees; printing, amending, supplementing, mailing and distributing costs; filing, registration and qualification fees and taxes; telegraph and telephone costs; and all advertising and marketing expenses, including the costs related to investor and broker-dealer sales meetings. The Organizational and Offering Expenses paid by the Company in connection with its formation, together with all selling commissions and the 1.5% marketing allowance, will not exceed fifteen percent of the proceeds raised in connection with the Offering.

Organizational and Offering Expenses. Organizational and Offering Expenses are defined as any and all costs and expenses, other than selling commissions and the 1.5% marketing allowance incurred by the Company, the advisor or any affiliate of either in connection with the formation, qualification and registration of the Company and the marketing and distribution of Shares, including, without limitation, the following: legal, accounting and escrow fees; printing, amending, supplementing, mailing and distributing costs; filing, registration and qualification fees and taxes; telegraph and telephone costs; and all advertising and marketing expenses, including the costs related to investor and broker-dealer sales meetings. The Organizational and Offering Expenses paid by the Company in connection with its formation, together with all selling commissions and the 1.5% marketing allowance, will not exceed fifteen percent of the proceeds raised in connection with the Offering.