Transaction Defined. For purposes of this Agreement, the term "transaction" shall be defined as the recording of the deed following the sale of real estate, or the execution by all parties of a lease, where a commission is paid to Broker as a result of the efforts of Contractor. Contractor agrees that Broker has the right to hold and/or apply any commissions owing to Contractor, as may be necessary to pay for or secure any obligations of Contractor hereunder.
Transaction Defined. For purposes of this Engagement Letter, the term "Transaction" means the occurrence, either indirectly or directly, by way of a negotiated transaction or otherwise, any of the following: (i) the acquisition by SYBD of all, or substantially all, of the outstanding capital stock, or all, or substantially all, of the assets or business of any other entity, (ii) any issuance by SYBD of common stock, stock options, warrants, stock rights, or other interest in the ownership of SYBD, (iii) any issuance by SYBD of any debt or debt-related securities, or (iv) the merger, sale or other transfer of SYBD or its assets or business to another entity. In connection with a Transaction, the Company shall take such action as is necessary or desirable to facilitate the Transaction, including the preparation of any documents to be filed with the Securities and Exchange commission.
