Common use of LEASE WITH OPTION TO PURCHASE Clause in Contracts

LEASE WITH OPTION TO PURCHASE. Where the Premises are leased and the Lessee has a right of purchase or a first right of refusal which is exercised by the Lessee, or the person/s introduced to the Principal by the Agent in accordance with and for the purpose of this agreement purchases the Premises the Agent's fee shall be as follows: ............................. (GST inclusive) Such fee shall be due and payable by the Principal when such right is exercised or the person/s complete the purchase of the Premises.