Common use of COOPERATING BROKER PROGRAM Clause in Contracts

COOPERATING BROKER PROGRAM. If the Cooperating Broker Program conducted by Auctioneer is in effect for the Auction, a properly licensed broker (“Cooperating Broker”) who timely registers and qualifies with Auctioneer in accordance with the terms of this program will be paid a commission by Seller at Closing, in accordance with the terms of this program, provided that both Cooperating Broker and the Buyer that Cooperating Broker represents fulfill all requirements under the Terms of Auction, this Sale Contract, and this program. If for any reason Closing does not occur, including, but not limited to, the default of any party hereto, no commission will be due or paid to any Cooperating Broker and Seller and Auctioneer will have no liability on any basis and for any amount.