Deferred Sales Commission definition

Deferred Sales Commission means an annual deferred sales commission of up to 1.0% of the gross proceeds from the sale of Shares in the Initial Public Offering (not including Shares sold pursuant to the Company’s distribution reinvestment plan) payable to the Primary Dealer and to Soliciting Dealers with respect to Shares sold by them, provided, however, that the aggregate Deferred Sales Commission paid to the Primary Dealer and Soliciting Dealers shall not exceed 5.0% of the gross offering proceeds the Company raises from the sale of Shares in the Initial Public Offering (not including Shares sold pursuant to the Company’s distribution reinvestment plan).
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Examples of Deferred Sales Commission in a sentence

  • The maximum cumulative Deferred Sales Commission payable to Primary Dealer shall be 3.00% per Share.

  • Payments of the Deferred Sales Commission on each Share from the Company to the Dealer Manager, and from the Dealer Manager to the Primary Dealer, will be paid monthly (one-twelfth of the annual Deferred Sales Commissions) and commence one year after the sale of such Share for a period of up to twelve years.

  • The maximum cumulative Deferred Sales Commission payable to Selected Dealer shall be 3.00% per Share sold by the Selected Dealer.

  • Payments of the Deferred Sales Commission on each Share from the Company to the Dealer Manager, and from the Dealer Manager to the Selected Dealer, will be paid monthly (one-twelfth of the annual Deferred Sales Commissions) and commence one year after the sale of such Share for a period of up to twelve years.