BROKERAGE COMMISSION PAYABLE Clause Samples

BROKERAGE COMMISSION PAYABLE. This Agreement being a sole agency Agreement, on the happening of any of the following the Broker shall be entitled to this full commission at the rate stated in the attached schedule: (a) A sale is completed to a Purchaser whether introduced by the Broker or not; (b) a Purchaser introduced by the Broker wishes to proceed at the asking price or other price agreed with the Owner, but the Owner is subsequently unwilling to proceed; (c) when a sale falls through after survey and a Purchaser introduced by the Broker has not rejected the vessel and the Owner is unwilling to make allowance for defects (unless such unwillingness has been previously stated in writing). If the broker shall introduce a prospective Purchaser for the vessel under the terms of this Agreement, where a Purchaser defaults after Agreement and his deposit / part payment is forfeit under the terms of the Sale & Purchase Agreement the Broker shall be entitled to commission on the agreed selling price.