Sales Commissions. You shall not be entitled to charge a sales commission on the sale of Shares of the Company.
Sales Commissions. The Distributor shall be entitled to charge a commission on each sale of Shares in the amount set forth in the prospectus of the Fund, such commission to be an amount equal to the difference between the net asset value and the offering price of the shares, as such offering price may from time to time be determined by the board of directors of the Fund. All shares of the Fund shall be sold to the public only at their public offering price at the time of such sale, and the Fund shall receive not less than the full net asset value thereof.
Sales Commissions. Seller and Purchaser represent and warrant each to the other that they have not dealt with any real estate broker, sales person or finder in connection with this transaction. In the event of any claim for broker’s or finder’s fees or commissions in connection with the negotiation, execution or consummation of this Agreement or the transactions contemplated hereby, each party shall indemnify and hold harmless the other party from and against any such claim based upon any statement, representation or agreement of such party.
Sales Commissions. (a) The Units shall be offered to the public on a best efforts basis through participating broker-dealers. The participating broker-dealers may receive such commissions, reallowances, fees and other compensation as are set forth in the Prospectus, except that no such fees or reallowances shall be paid with respect to sales of Units under the Distribution Reinvestment Plan. The Offering shall be made in compliance with Rule 2810 of the NASD Conduct Rules, which governs the amount of compensation that direct participation programs may pay for the services provided by FINRA members. In the event the Company receives any unsolicited orders directly from an investor who did not utilize the services of a participating broker dealer, Redwood Mortgage Corp. through the Formation Loan may pay to the Company an amount equal to the amount of the Sales Commissions otherwise attributable to a sale of a Unit through a participating broker dealer. The Company will in turn credit such amounts received from Redwood Mortgage Corp. to the account of the investor who placed the unsolicited order. All unsolicited orders will be handled only by the Managers. Sales Commissions will not be paid by the Company out of the proceeds of the Offering. All Sales Commissions will be paid by Redwood Mortgage Corp., which will also act as the mortgage loan broker for all Loans as set forth in Section 11.1 above. Units may also be offered or sold directly by the Managers for which they will receive no Sales Commissions.
Sales Commissions. The Executive shall receive the following sales commissions:
Sales Commissions. Sales commissions as provided in Section 6, below.
Sales Commissions. The Units are being offered to the public on a best efforts basis through the Participating Broker-Dealers. The Participating Broker-Dealers may receive commissions as follows: at the rate of either (5%) or (9%) (depending upon the investor's election to receive cash distributions or to compound earnings and acquire additional Units in the Partnership) of the Gross Proceeds on all of their sales. In no event will the total of all compensation payable to Participating Broker Dealers, including sales commissions, expense reimbursements, sales seminars and/or due diligence expenses exceed ten percent (10%) of the program proceeds received plus an additional (0.5%) for bona fide due diligence expenses as set forth in Rule 2810 of the NASD Conduct Rules. Further, in no event shall any individual Participating Broker Dealer receive total compensation including sales commissions, expense reimbursements, sales seminar or expense reimbursement exceed (10%) of the gross proceeds of their sales plus an additional (0.5%) for bona fide due diligence expenses as set forth in Rule 2810 of the NASD Conduct Rules (the Compensation Limitation). Sales commissions will not be paid by the Partnership out of the offering proceeds. All sales commissions will be paid by Redwood Mortgage, an affiliate of the General Partners, which will also act as the mortgage loan broker for all Mortgage Investments as set forth in Section 10.7 above. With respect to the initial offering of 150,000 Units, the Continuing Servicing Fee will be paid by Redwood Mortgage, but will not be included in the first Formation Loan. The Partnership will loan to Redwood Mortgage funds in an amount equal to the sales commissions. With respect to the initial offering of 150,000 Units, Redwood Mortgage will use the proceeds from loan brokerage commissions on Mortgage Investments to pay the Continuing Servicing Fees, and if all or any one of the initial General Partners is removed as a General Partner by the vote thereafter designated, if such successor or additional General Partner(s) use any other loan brokerage firm for the placement of Mortgage Investments, Redwood Mortgage will be immediately released from any further obligation to continue to pay any Continuing Servicing Fees. In addition, if all of the General Partners are removed, no successor General Partners are elected, the Partnership is liquidated and Redwood Mortgage is no longer receiving any payments for services rendered, Redwood Mortgage will be...
Sales Commissions. Formation Loan Sales commissions are not paid directly by the Partnership out of the offering proceeds. Instead, the Partnership will loan to Redwood Mortgage, an affiliate of the General Partners, amounts to pay all sales commissions and amounts payable in connection with unsolicited orders. This loan is referred to as the Formation Loan. It is unsecured and non-interest bearing. The Formation Loan relating to the initial $15,000,000 offering totalled $1,074,840, which was 7.2% of limited partners contributions of $14,932,017 (under the limit of 9.1% relative to the initial offering). It is to be repaid, without interest, in ten annual installments of principal, which must commence on January 1, following the year the initial offering closes, which was in 1996. The Formation Loan relating to the second offering ($30,000,000) totalled $15,384 at December 31, 1996, which was 4.9% of the limited partners contributions of $310,937. Sales commissions range from 0% (units sold by General Partners) to 9% of gross proceeds. The Partnership anticipates that the sales commissions will approximate 7.6% based on the assumption that 65% of investors will reinvest earnings, thus generating 9% commissions. The principal balance of the Formation Loan will increase as additional sales of units are made each year. The amount of the annual installment payment to be made by Redwood Mortgage, during the offering stage, will be determined at annual installments of one-tenth of the principal balance of the Formation Loan as of December 31 of each year. Such payment shall be due and payable by December 31 of the following year with the first such payment to be made by December 31, 1997. Upon completion of the offering, the balance will be repaid in ten equal annual installments. The following summarizes Formation Loan transactions to December 31, 1996: Initial Subsequent Total Offering of Offering of $15,000,000 $30,000,000 --------------- --------------- --------------- Limited Partner contributions $14,932,017 $310,937 $15,242,954 =============== =============== =============== Formation Loan made $1,074,840 15,384 1,090,224 Payments to date (8,960) 0 (8,960) Early withdrawal penalties applied (7,558) 0 (7,558) --------------- --------------- --------------- Balance December 31, 1996 $1,058,322 $15,384 $1,073,706 =============== =============== =============== Percent loaned of Partners contributions 7.2% 4.9% 7.2% =============== =============== ===============
Sales Commissions. The Sales Agent, a wholly-owned subsidiary of Prime, has entered into a Sales Agency Agreement with the Partnership pursuant to which the Sales Agent has agreed to sell the Units on a "best efforts" any or all basis. As compensation for its services, the Sales Agent will receive a commission equal to $250 for each Unit sold (up to an aggregate of $20,000). If the offering is successful, the Sales Agent will also be reimbursed by the Partnership for its out-of-pocket expenses associated with its sale of the Units in an amount not to exceed $15,000. See "Plan of Distribution" and "Conflicts of Interest."
Sales Commissions. Purchaser represents that he/she did not use any broker other than Seller’s broker and _ (co-broker). Co Broker, if any, shall receive a percent commission based upon the Purchase Price less any credits or adjustments to the Purchase Price, and/or Seller closing credit contribution, which Seller provides to Purchaser as an incentive or otherwise. Seller will pay all sales commissions due its in-house sales personnel and the co-broker, if any, identified above (if such space is left blank, it shall mean that Seller has not agreed to pay any co-broker and that Purchaser represents that there is no co-broker who can claim by, through or under Purchaser), provided that such co-broker has properly registered in writing and received approval from Seller as a participating co-broker. To properly register a prospective purchaser, the broker must, among other things, be present with the prospective purchaser the first time that the purchaser visits the Condominium. No broker’s registration of a prospective purchaser after the prospective purchaser has visited the Condominium will be accepted by Seller. Seller has no responsibility to pay any sales commissions to any other broker or sales agent with whom Xxxxxxxxx has dealt (except as specifically named herein and then only as Seller has agreed in writing). Purchaser will be solely responsible to pay any such brokers. Purchaser represents and warrants to Seller that Purchaser has not dealt with, nor has the sale been procured by, any real estate broker, salesperson or finder, other than Seller’s in-house staff and the co-broker, if any, named on the second page hereof. Purchaser will indemnify Seller against all claims made against Seller by any other brokers or sales agents (and agrees also to pay all costs and attorneys’ fees actually incurred by Seller because of these claims). This paragraph will survive (and continue to be effective after) Closing.
