When Earned; When Payable - Purchase Clause Samples

When Earned; When Payable - Purchase. The Success Fee is earned by Brokerage Firm upon the 128 Purchase of the Property and is payable upon closing of the transaction. If any transaction fails to close as a result of the seller’s 129 default, with no fault on the part of Buyer, the Success Fee will be waived. If any transaction fails to close as a result of ▇▇▇▇▇’s 130 default, in whole or in part, the Success Fee will not be waived; such fee is payable upon Buyer’s default, but not later than the 131 date that the closing of the transaction was to have occurred.