Common use of Appointment of TeamCo as PSL Agent Clause in Contracts

Appointment of TeamCo as PSL Agent. Subject to the terms of this Agreement, during the Sales Term the Authority hereby appoints TeamCo to serve, and TeamCo shall act as, the Authority’s exclusive agent (in such capacity, the “PSL Agent”), with the right to appoint subagents pursuant to the terms hereof (each, a “Subagent”), for the marketing of, solicitation of orders for, and sales of, PSLs and the execution and delivery of PSL Sales Agreements on the forms approved by the Authority as provided in Section 2.4 of this Agreement and any related PSLs. The PSLs will be sold with respect to seating in the Stadium for Team Games. The PSL Agent shall use commercially reasonable efforts to sell, or cause to be sold, all of the PSLs for an aggregate purchase price of no less than $250 million. In the event that a PSL shall terminate due to a default by the PSL Licensee under the applicable PSL Sales Agreement, the PSL Agent shall use commercially reasonable efforts to sell, or cause to be sold, a new PSL with respect to the applicable PSL Seat (each such new PSL, a “Replacement PSL”).

Appointment of TeamCo as PSL Agent. Subject to the terms of this Agreement, during the Sales Term the Authority hereby appoints TeamCo to serve, and TeamCo shall act as, the Authority’s exclusive agent (in such capacity, the “PSL Agent”), with the right to appoint subagents pursuant to the terms hereof (each, a “Subagent”), for the marketing of, solicitation of orders for, and sales of, PSLs and the execution and delivery of PSL Sales Agreements on the forms approved by the Authority as provided in Section 2.4 of this Agreement and any related PSLs. The PSLs will be sold with respect to seating in the Stadium for Team Games. The PSL Agent shall use commercially reasonable efforts to sell, or cause to be sold, all of the PSLs for an aggregate purchase price of no less than $250 [ ] million. In the event that a PSL shall terminate due to a default by the PSL Licensee under the applicable PSL Sales Agreement, the PSL Agent shall use commercially reasonable efforts to sell, or cause to be sold, a new PSL with respect to the applicable PSL Seat (each such new PSL, a “Replacement PSL”).

Appointment of TeamCo as PSL Agent. Subject to the terms of this Agreement, during the Sales Term the Authority hereby appoints TeamCo to serve, and TeamCo shall act as, the Authority’’s exclusive agent (in such capacity, the “PSL Agent”), with the right to appoint subagents pursuant to the terms hereof (each, a “Subagent”), for the marketing of, solicitation of orders for, and sales of, PSLs and the execution and delivery of PSL Sales Agreements on the forms approved by the Authority as provided in Section 2.4 of this Agreement and any related PSLs. The PSLs will be sold with respect to seating in the Stadium for Team Games, [for UNLV Games, and for certain other events held at the Stadium]. The PSL Agent shall use commercially reasonable efforts to sell, or cause to be sold, all of the PSLs for an aggregate purchase price of no less than $250 [ ] million. In the event that a PSL shall terminate due to a default by the PSL Licensee under the applicable PSL Sales Agreement, the PSL Agent shall use commercially reasonable efforts to sell, or cause to be sold, a new PSL with respect to the applicable PSL Seat (each such new PSL, a “Replacement PSL”).