Production Management Fee
Production Management Fee. $300,000 out of the offering proceeds to be paid by 35 immediately to Manager upon the successful capitalization of 35. Since the subject offering is "all or none", Manager shall only be paid such fee if all of the Class A Shares are sold and the offering proceeds are released, upon receipt of a letter of direction from the Washington Department of Financial Institutions, or other similar state regulatory agency, from 35's impound account.
Found in
Waitlist, LLC contract
Production Management Fee. $300,000 out of the offering proceeds to be paid by Waitlist in accordance with the terms of the agreement between Waitlist and the Manager (see Exhibit 10.2). Since the subject offering is "all or none", Manager shall only be paid such fee if all of the Class A Units are sold and the offering proceeds are released.
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Found in
Waitlist, LLC contract