AGENT; REQUIRED PURCHASERS Sample Clauses

The 'AGENT; REQUIRED PURCHASERS' clause defines the roles and authority of an agent acting on behalf of a group of purchasers, as well as the criteria for identifying which purchasers are necessary to make certain decisions or take specific actions under the agreement. Typically, this clause outlines how the agent is appointed, the scope of their powers, and the threshold (such as a majority or supermajority) of purchasers needed to direct the agent or approve key matters. Its core function is to streamline decision-making among multiple purchasers, ensuring efficient administration and reducing the risk of deadlock or confusion in group actions.