Common use of Expenses of the Representative Clause in Contracts

Expenses of the Representative. The Company further agrees that, in addition to the expenses payable pursuant to Section 4.5(a), on the Closing Date, the Company will pay the Representative (i) up to $100,000 for its legal and other out of pocket expenses related to the Offering (which shall include expenses incurred under clauses (m) and (n) of Section 4.5(a) herein), (ii) a non-accountable expense allowance equal to $50,000, and (iii) a management fee equal to 1% of the gross proceeds of the Offering, including, without limitation, any proceeds upon the exercise of the Over-Allotment Option which shall be payable on the applicable Option Closing Date, by deduction from the proceeds of the Offering contemplated herein.

Expenses of the Representative. The Company further agrees that, in addition to the expenses payable pursuant to Section 4.5(a4.6(a), on the Closing Date, the Company will pay the Representative (i) up to $100,000 for its legal and other out of pocket expenses related to the Offering (which shall include expenses incurred under clauses (m) and (n) of Section 4.5(a4.6(a) herein), (ii) a non-accountable expense allowance equal to $50,000, and (iii) a management fee equal to 11.0% of the gross proceeds of the Offering, including, without limitation, any proceeds upon the exercise of the Over-Allotment Option which shall be payable on the applicable Option Closing Date, by deduction from the proceeds of the Offering contemplated herein.