Terminated Listing Clause Samples
A Terminated Listing clause defines the conditions under which a real estate listing agreement between a property owner and a broker is ended before its scheduled expiration. This clause typically outlines the procedures for formally notifying the other party of termination, any obligations that survive the termination (such as payment of commissions for buyers introduced during the listing period), and the effective date of termination. Its core practical function is to provide a clear process for ending the listing relationship, thereby preventing disputes and ensuring both parties understand their rights and responsibilities when the agreement is concluded early.
Terminated Listing. If, at any time, either (i) the Intermediary notifies the Deposit Account Agent in writing that the Intermediary has exercised its right to terminate the Issuer’s Offering and not proceed with the Closing of the Offering or (ii) the Deposit Account Agent receives a written instruction stating that the Offering has been terminated and the Parties will not proceed with a Closing, the Deposit Account Agent shall return all Cleared Funds to Subscribers according to the amounts and return payment instructions contained in the Offering Report promptly (noon the following business day) upon such written notification without deduction, penalty, or expense to Subscriber.
Terminated Listing. If, at any time, the Deposit Account Agent receives a written instruction stating that the Offering has been terminated and the Parties will not proceed with a Closing, the Deposit Account Agent shall return all Cleared Funds to Subscribers according to the amounts and return payment instructions contained in the Offering Report promptly (noon the following business day) upon such written notification without deduction, penalty, or expense to Subscriber.