Common use of Formation Costs Clause in Contracts

Formation Costs. All costs of organizing and offering interests in the Partnership, including: printing expenses; legal and accounting fee and expenses; salary and employee benefits, travel, filing, mailing and other expenses incurred by the Managing General Partner or the Partnership in connection therewith or in connection with the formation of the Partnership; the registration and qualification of interests therein for offer and sale under applicable securities laws; the preparation of all related documents and offering materials; and escrow fees. Formation Costs shall not include any amounts payable to broker-dealers as selling commissions or amounts paid to the Dealer Manager in connection with managing the offering.