Common use of COMPENSATION OF DEALER MANAGER Clause in Contracts

COMPENSATION OF DEALER MANAGER. (a) As compensation for the services of the Dealer-Manager hereunder, the Fund will pay to the Dealer-Manager a selling commission of seven per cent (7%) of the purchase price of each BAC sold by it and a Dealer-Manager Fee in the amount of two per cent (2%) of the purchase price for each BAC sold to a subscriber. However, for purchases of more than 10,000 BACs, the selling commission will be as follows: first 10,000 BACs, 7.0%; next 10,000 BACs, 6.5%; next 10,000 BACs, 5.5%; next 10,000 BACs, 4.5%; next 10,000 BACs, 3.5%; and next 10,000 BACs and over, 2.5%. The Dealer-Manager shall be entitled to the foregoing compensation only for the number of BACs for which the subscriber is admitted to the Fund as a BAC holder. The Dealer-Manager will also be entitled to receive: (i) an accountable due diligence expense reimbursement for actual bona fide due diligence expenses incurred by the Dealer-Manager or Soliciting Dealers retained by the Dealer-Manager, in an aggregate amount not to exceed one-half of one per cent (0.5%) of the purchase price for the BACs in such Fund sold through the efforts of the Dealer-Manager or by the Soliciting Dealers to subscribers with respect to such Fund; and (ii) a non-accountable expense allowance in an amount up to one per cent (1%) of the public ofering price of the BACs sold.

COMPENSATION OF DEALER MANAGER. (a) As compensation for the services of the Dealer-Manager hereunder, the Fund will pay to the Dealer-Manager a selling commission of seven per cent (7%) of the purchase price of each BAC sold by it and a Dealer-Manager Fee in the amount of two per cent (2%) of the purchase price for each BAC sold to a subscriber. However, for purchases of more than 10,000 BACs, the selling commission will be as follows: first 10,000 BACs, 7.0%; next 10,000 BACs, 6.5%; next 10,000 BACs, 5.5%; next 10,000 BACs, 4.5%; next 10,000 BACs, 3.5%; and next 10,000 BACs and over, 2.5%. The Dealer-Manager shall be entitled to the foregoing compensation only for the number of BACs for which the subscriber is admitted to the Fund as a BAC holder. The Dealer-Manager will also be entitled to receive: (i) an accountable due diligence expense reimbursement for actual bona fide due diligence expenses incurred by the Dealer-Dealer- Manager or Soliciting Dealers retained by the Dealer-Manager, in an aggregate amount not to exceed one-half of one per cent (0.5%) of the purchase price for the BACs in such Fund sold through the efforts of the Dealer-Manager or by the Soliciting Dealers to subscribers with respect to such Fund; and (ii) a non-accountable expense allowance in an amount up to one per cent (1%) of the public ofering price of the BACs sold.