Common use of COMMISSION AND PAYMENT Clause in Contracts

COMMISSION AND PAYMENT. (a) In the event that the Work is sold to a third-party buyer (the “Buyer”) during the Consignment Period, pursuant to the terms and conditions of this Consignment Agreement: (i) Masterworks shall receive no less than the minimum Net Proceeds; (ii) to the extent that the purchase price paid by the Buyer, exclusive of any applicable taxes (the “Purchase Price”) exceeds the minimum Net Proceeds, the Consignee shall be entitled to retain a Commission of the Purchase Price no greater than the amount set forth on the first page of this Consignment Agreement; (b) Consignee shall be entitled to retain this Commission and forward the balance of the sale proceeds for the Work to Masterworks within five (5) business days of the receipt by Consignee of the entire Purchase Price for the Work in good and clear funds, or any portion thereof. Masterworks reserves the right to request the full amount of the Purchase Price, as well as a redacted copy of any bill of sale or purchase agreement.

COMMISSION AND PAYMENT. (a) In the event that the Work is sold to a third-party buyer (the “Buyer”) during the Consignment Period, pursuant to the terms and conditions of this Consignment Agreement: (i) Masterworks shall receive no less than the minimum Net Proceeds; (ii) to the extent that the purchase price paid by the Buyer, exclusive of any applicable taxes (the “Purchase Price”) exceeds ), is less than or equal to the minimum Net Proceeds, the Consignee shall be entitled to retain a Commission commission of the Purchase Price no greater than the amount set forth on the first page of this Consignment Agreement;; and (iii) to the extent the Purchase Price is greater than the Floor Price, the parties shall be entitled to the Profit Share as set forth on the first page of this Consignment Agreement. (b) Consignee shall be entitled to retain this Commission commission and forward the balance of the sale proceeds for the Work to Masterworks within five (5) business days of the receipt by Consignee of the entire Purchase Price for the Work in good and clear funds, or any portion thereof. Masterworks reserves the right to request the full amount of the Purchase Price, as well as a redacted copy of any bill invoice, bxxx of sale sale, or purchase agreement.

COMMISSION AND PAYMENT. (a) In the event that the Work is sold to a third-party buyer (the “Buyer”) during the Consignment Period, pursuant to the terms and conditions of this Consignment Agreement: (i) Masterworks shall receive no less than the minimum Net Proceeds; (ii) to the extent that the purchase price paid by the Buyer, exclusive of any applicable taxes (the “Purchase Price”) exceeds the minimum Net Proceeds, the Consignee shall be entitled to retain a Commission of the Purchase Price no greater than the amount set forth on the first page of this Consignment Agreement; (b) Consignee shall be entitled to retain this Commission and forward the balance of the sale proceeds for the Work to Masterworks within five (5) business days of the receipt by Consignee of the entire Purchase Price for the Work in good and clear funds, or any portion thereof. Masterworks reserves the right to request the full amount of the Purchase Price, as well as a redacted copy of any bill of sale or purchase agreement.

COMMISSION AND PAYMENT. (a) In the event that the Work is sold to a third-party buyer (the “Buyer”) during the Consignment Period, pursuant to the terms and conditions of this Consignment Agreement: (i) Masterworks shall receive no less than the minimum Net Proceeds;; and (ii) to the extent that the purchase price paid by the Buyer, exclusive of any applicable taxes (the “Purchase Price”) exceeds ), is less than or equal to the minimum Net Proceeds, the Consignee shall be entitled to may retain a Commission commission of the Purchase Price no greater than the amount set forth on the first page of this Consignment Agreement;. (b) Consignee shall be entitled to retain this Commission commission and forward the balance of the sale proceeds for the Work to Masterworks within five (5) business days of the receipt by Consignee of the entire Purchase Price for the Work in good and clear funds, or any portion thereof. Masterworks reserves the right to request the full amount of the Purchase Price, as well as a redacted copy of any bill of sale or purchase agreement.