Common use of Buy-Out Clause in Contracts

Buy-Out. 5.1 Buy-Out (a) on or after the 60th birthday of the Broker; or (b) in the event that the Broker is diagnosed with a serious illness or otherwise which renders him permanently and totally unable to work as a Broker; or (c) in the event of the Broker's death, having regard for the provisions of Clause 7.3. 5.2 [ ]

Buy-Out. 5.1 Buy-Out (a) on or after the 60th birthday of the Broker; or (b) in the event that the Broker is diagnosed with a serious illness or otherwise which renders him permanently and totally unable to work as a Broker; or (c) in the event of the Broker's ’s death, having regard for the provisions of Clause 7.3. 5.2 [ ]

Buy-Out. 5.1 Buy-Out (a) on or after the 60th birthday of the Broker; or (b) in the event that the Broker is diagnosed with a serious illness or otherwise which renders him permanently and totally unable to work as a Broker; or (c) in the event of the Broker's death, having regard for the provisions of Clause 7.3. 5.2 [ ]Where the Broker is a company or corporation, Clause 5.1 will apply where the events referred to in 5.1 have occurred to a company director or owner or partner of the Broker.

Buy-Out. 5.1 Buy-Out (a) on or after the 60th birthday of the Broker; or (b) in the event that the Broker is diagnosed with a serious illness or otherwise which renders him permanently and totally unable to work as a Broker; or (c) in the event of the Broker's death, having regard for the provisions of Clause 7.3. 5.2 [ ]