Earned and Payable. A person is not obligated to pay Broker a commission until such time as Broker's commission is earned and payable. (1) Broker's commission is earned when Client enters into a binding written contract for the acquisition of property in the market area. (2) Broker's commission is payable, either during the term of this agreement or after it ends, upon the earlier of: (a) the closing of the transaction to acquire the property; (b) Client's breach of a written contract to purchase or lease a property in the market area; or (c) Client's breach of this agreement. (3) If Client acquires more than one property under this agreement, Broker's commissions for each property acquired are earned as each property is acquired and are payable at each closing of the properties acquired.
Appears in 1 contract
Sources: Buyer Representation Agreement
Earned and Payable. A person is not obligated to pay Broker a commission until such time as Broker▇▇▇▇▇▇'s commission is earned and payable.
(1) Broker▇▇▇▇▇▇'s commission is earned when Client enters into a binding written contract for the acquisition of property in the market area.
(2) Broker▇▇▇▇▇▇'s commission is payable, either during the term of this agreement or after it ends, upon the earlier of:
(a) the closing of the transaction to acquire the property;
(b) Client's breach of a written contract to purchase or lease a property in the market area; or
(c) Client's breach of this agreement.
(3) If Client acquires more than one property under this agreement, Broker's commissions for each property acquired are earned as each property is acquired and are payable at each closing of the properties acquired.
Appears in 1 contract
Sources: Buyer Representation Agreement
Earned and Payable. A person is not obligated to pay Broker a commission until such time as Broker's commission is earned and payable.
(1) . Broker's commission is earned when when:
(1) Client enters into a binding written contract for the acquisition of to buy or lease property in the market area.; or
(2) Client breaches this Agreement. Broker's commission is payable, either during the term of this agreement Agreement or after it ends, upon the earlier of:
(a1) the closing of the transaction to acquire the property;
(b2) Client's breach of a written contract to purchase buy or lease a property in the market area; or
(c3) Client's breach of this agreement.
(3) Agreement. If Client acquires more than one property under this agreement, Broker's commissions for each property acquired are earned as each property is acquired and are payable at each the closing of the properties acquiredeach acquisition.
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