Community definition
Examples of Community in a sentence
If any shares of the Common Stock remain unsold after the completion of the Subscription Offering and any Community Offering, at the request of the Company, KBW will seek to form a syndicate of registered broker-dealers to assist in a Syndicated Community Offering, on a best efforts basis, subject to the terms and conditions set forth in a selected dealers agreement to be entered into by and between the Company and KBW.
The obligation to pay to KBW the full Success Fee upon completion of the Subscription Offering and any Community Offering shall survive any termination of this Agreement, including any termination occurring prior to the completion of such Offerings.
A Success Fee shall be paid based on 1% of the aggregate purchase price of Common Stock sold in the Subscription Offering and if any 1.5% of the aggregate purchase price of Common Stock sold in the Community Offering, excluding shares purchased or donated to any charitable foundation established by the Company (or any shares contributed to such a foundation), subject to the payment of a minimum Success Fee $350,000 and shall be paid upon the completion of the Offerings.
In the event of a Syndicated Community Offering, KBW will be paid a transaction fee not to exceed 6% of the aggregate purchase price of the shares of Common Stock sold in the Syndicated Community Offering.
From this fee, KBW will pass onto selected broker-dealers (if any), who assist in the Syndicated Community Offering, an amount competitive with gross underwriting discounts charged at such time for comparable amounts of stock sold at a comparable price per share in a similar market environment.