Common use of Selling Commission Clause in Contracts

Selling Commission. As compensation for services rendered hereunder, the Company shall pay the Dealer Manager, subject to the volume discounts and provisions regarding Special Sales (as defined below), the following: (i) a selling commission equal to seven percent (7.0%) of the gross offering price of each Share for which a sale is completed with respect to Shares offered on a “best efforts” basis, of which the full amount may be reallowed by the Dealer Manager to the Soliciting Dealers (the “Selling Commission”); (ii) a marketing contribution equal to three percent (3.0%) of the gross proceeds of the offering of Shares on a “best efforts” basis, of which one and one-half percent (1.5%) may be reallowed by the Dealer Manager to the Soliciting Dealers (the “Marketing Contribution”); and (iii) a reimbursement for any bona-fide out-of-pocket, itemized and detailed due diligence expenses in an amount not to exceed one-half of one percent (0.5%) of the gross proceeds of the offering of Shares on a “best efforts” basis, which shall be reimbursed from amounts paid as the Marketing Contribution.

Selling Commission. As compensation for services rendered hereunder, the Company shall pay the Dealer Manager, subject to the volume discounts and provisions regarding Special Sales (as defined below), the following: (i) a selling commission equal to seven percent (7.0%) of the gross offering price of each Share for which a sale is completed with respect to Shares offered on a “best efforts” basis, of which the full amount may be reallowed by the Dealer Manager to the Soliciting Dealers (the “Selling Commission”); (ii) a marketing contribution equal to three percent (3.0%) of the gross proceeds of the offering of Shares on a “best efforts” basis, of which one and one-half percent (1.5%) may be reallowed by the Dealer Manager to the Soliciting Dealers (the “Marketing Contribution”); and (iii) a reimbursement for any bona-fide out-of-pocket, itemized and detailed due diligence expenses in an amount not to exceed one-half of one percent (0.5%) of the gross proceeds of the offering of Shares on a “best efforts” basis, which shall may be reimbursed reimbursed, in the Company’s sole discretion, from amounts paid as the Marketing ContributionContribution or from Issuer Costs (as defined in Section 7 hereof).