Common use of Contribution Fee Clause in Contracts

Contribution Fee. In connection with Services rendered with respect to the Contribution, the Company hereby agrees to pay the Advisor a fee in the amount of $1,500,000, together with reimbursement of any unreimbursed or unpaid expenses incurred by the Advisor in connection with the Contribution, with such fee and expenses to be payable by the Company on the earlier of (x) the closing of an initial public offering of common stock by the Company (or any successor to the Company by merger, consolidation or reorganization of the Company, by incorporation or otherwise), or (y) September 30, 1998.