Common use of Listing of Property Clause in Contracts

Listing of Property. If an employee chooses to participate in the Housing Assistance Plan, by accepting the Purchase Guarantee, the employee will immediately list the property for days on (where such service is available) at a price not exceeding of the guaranteed price. The employee will retain the right to sell to a third party until such time as the property is turned over to Xxxxx Power for resale. In order to assist the employee to dispose of the property expeditiously and at a fair market value, the employee should notify the Relocation Manager of all offers to purchase during the listing period. Xxxxx Power may ask the employee to accept an offer which is lower than the Purchase Guarantee, whereupon the employee will be compensated for the difference between Xxxxx Power's Purchase Guarantee and the amount of the offer. The employee's acceptance of any offer less than Xxxxx Power's Purchase Guarantee is not mandatory and the employee will retain control of the sale of the residence throughout the listing period. All offers to purchase will be held in confidence by the Employee Relocation Administrator.