Valuation; Use of Proceeds. You acknowledge that the price of the Shares (the “Offering Price”) was set by the Company on the basis of dividing (i) the Acquisition Cost for the Artwork, by (ii) the number of shares offered in the Offering at the Closing. The gross proceeds of the Offering will be paid (i) to the Asset Manager in an amount equal to 4% of the Purchase Price for the Artwork as the “Sourcing Fee,” and (ii) to the Auction House in an amount equal to the balance of the gross proceeds to acquire the Artwork and pay sales taxes, if any.
Appears in 2 contracts
Samples: Subscription Agreement (aShareX Fine Art, LLC), Subscription Agreement (aShareX Fine Art, LLC)
Valuation; Use of Proceeds. You acknowledge that the price of the Shares (the “Offering Price”) was set by the Company on the basis of dividing (i) the Acquisition Cost for the Artwork, by (ii) the number of shares offered in the Offering Series Shares issued at the Closing. The gross proceeds of the Offering will be paid (i) to the Asset Manager in an amount equal to 46% of the Purchase Price for the Artwork as the “Sourcing Fee,” and (ii) to the Auction House in an amount equal to the balance of the gross proceeds to acquire the Artwork and pay sales taxes, if anyArtwork.
Appears in 2 contracts
Samples: Subscription Agreement (aShareX Fine Art, LLC), Subscription Agreement (aShareX Fine Art, LLC)
Valuation; Use of Proceeds. You acknowledge that the price of the Shares (the “Offering Price”) was set by the Company on the basis of dividing (i) the Acquisition Cost for the Artwork, by (ii) the number of shares offered in the Offering at the Closing. The gross proceeds of the Offering will be paid (i) to the Asset Manager in an amount equal to 46% of the Purchase Price for the Artwork as the “Sourcing Fee,” and (ii) to the Auction House in an amount equal to the balance of the gross proceeds to acquire the Artwork and pay sales taxes, if any.
Appears in 1 contract
Valuation; Use of Proceeds. You acknowledge that the price of the Shares (the “Offering Price”) was set by the Company on the basis of dividing (i) the Acquisition Cost for the Artwork, by (ii) the number of shares offered in the Offering at the Closing. The gross proceeds of the Offering will be paid (i) to the Asset Manager in an amount equal to 4% of the Purchase Price for the Artwork as the “Sourcing Fee,” and (ii) to the Auction House in an amount equal to the balance of the gross proceeds to acquire the Artwork and pay sales taxes, if anyArtwork.
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