Common use of Dealers’ Commissions Clause in Contracts

Dealers’ Commissions. The Dealer's compensation for the offering and sale of Notes will be sales commissions of up to four percent (4%), marketing incentive fees of up to one half of one percent (0.5%) and reimbursement of accountable expenses of up to one-half of one percent (0.5%) of the aggregate proceeds generated from the sale of Notes by such Dealer. For these purposes, a "sale of Notes" shall occur if and only if a transaction has closed with a purchaser of Notes pursuant to all applicable offering and subscription documents and the Company has thereafter distributed the commission to the Dealer Manager in connection with such transaction. The Dealer hereby waives any and all rights to receive payment of commissions due until such time as the Dealer Manager is in receipt of the commission from the Company. The Dealer affirms that the Dealer Manager's liability for commissions payable is limited solely to the proceeds of commissions receivable associated therewith.

Appears in 2 contracts

Samples: Vestin Group Inc, Vestin Group Inc

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Dealers’ Commissions. The Dealer's compensation for the offering and sale of Notes Units will be sales commissions of up to four three percent (43%), marketing incentive fees of up to one half of one percent (0.5%) and reimbursement of accountable expenses of up to one-half of one percent (0.5%) of the aggregate proceeds generated from the sale of Notes units by such Dealer. For these purposes, a "sale of NotesUnits" shall occur if and only if a transaction has closed with a purchaser of Notes Units pursuant to all applicable offering and subscription documents and the Company has thereafter distributed the commission to the Dealer Manager in connection with such transaction. The Dealer hereby waives any and all rights to receive payment of commissions due until such time as the Dealer Manager is in receipt of the commission from the CompanyManager. The Dealer affirms that the Dealer Manager's liability for commissions payable is limited solely to the proceeds of commissions receivable associated therewith.

Appears in 1 contract

Samples: Vestin Fund Ii LLC

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Dealers’ Commissions. The Dealer's compensation for the offering and sale of Notes Units will be sales commissions of up to four two percent (42%), marketing incentive fees of up to one half of one percent (0.5%) and reimbursement of accountable expenses of up to one-half of one percent (0.5%) of the aggregate proceeds generated from the sale of Notes units by such Dealer. For these purposes, a "sale of NotesUnits" shall occur if and only if a transaction has closed with a purchaser of Notes Units pursuant to all applicable offering and subscription documents and the Company has thereafter distributed the commission to the Dealer Manager in connection with such transaction. The Dealer hereby waives any and all rights to receive payment of commissions due until such time as the Dealer Manager is in receipt of the commission from the CompanyManager. The Dealer affirms that the Dealer Manager's liability for commissions payable is limited solely to the proceeds of commissions receivable associated therewith.

Appears in 1 contract

Samples: Vestin Fund Ii LLC

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